Intelligent Issue 29 - Page 6


UK SMEs face significant barriers to international trade
Research from the CBI and Finastra , canvassing the opinions of UK small- and medium-sized businesses ( SMEs ), suggests that there ’ s a gap between the ambition of firms to trade internationally and the reality of doing so .
While just 44 % of businesses surveyed currently engage in international trade , only 23 % said they were not interested in doing so . One-third of respondents believe there ’ s potential value , but do not trade due to perceived barriers and a lack of support .
Common barriers cited by respondents include : Brexit ( 23 %); being too small to trade internationally ( 16 %); and limited knowledge about international markets ( 15 %).
To better understand current business attitudes to international trade and accessing finance , the CBI and Finastra worked with YouGov to gain more insight into the challenges businesses are facing , attitudes to finance and ambitions for international growth .
Intuit to accelerate and automate B2B payments for US businesses
Purpose is key in UK SMEs ’ push towards net zero
Intuit has expanded availability of the Intuit QuickBooks Business Network to millions of small and mid-market businesses in the US , creating one of the largest business-tobusiness ( B2B ) networks aimed at accelerating and automating B2B payments and improving overall cash flow .
challenges small and midmarket businesses face and that FinTech innovation is wellpositioned to address .
QuickBooks data shows that 52 % of B2B small businesses are paid late , even more than business-to-consumer ( B2C ) businesses ( 32 %), creating a cash flow challenge for small businesses that often rely on timely payments for critical business needs .
“ We ’ re innovating to address age-old challenges small businesses face when it comes to B2B payments , 70 % of which are still paper or check-based in the US ,” said Rania Succar , Senior Vice President , Intuit
UK small- and medium-sized businesses ( SMEs ) seeking to make changes to achieve net zero are as motivated by purpose-driven or social impact factors as by commercial considerations , according to research from Lloyds Bank .
The Lloyds Bank Net Zero Monitor shows that protecting the environment for future generations ( 37 %) and employee well-being and engagement ( 27 %) are two of the most important benefits anticipated for companies
making the transition to being carbon neutral . SMEs believe the main commercial benefits will be waste reduction ( 38 %) and cost savings ( 25 %).
The Net Zero Monitor saw similar results in a survey of the 7 % of businesses that are already at net zero , with 37 % of this group saying that protecting the natural environment for future generations was the biggest benefit , followed by 32 % citing waste reduction .
B2B payments remain one of the largest unsolved
QuickBooks Money Platform and CEO , Mailchimp .
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