Welcome to WrightCFO's July newsletter. If you missed last month's instalment you can take a look here.
June signalled the start of glorious summer and throughout the month at WrightCFO we are happy to report it was business as usual. We have also been preparing for July's London Fintech Week and Independent Retailer Month but more on that later. For now we are excited to share our latest news with you and as always, please get in touch if you want to discuss anything from the newsletter in more detail.
It's All Happening in July
July has become synonymous with London Fintech Week and the 6th annual conference is now under way, with the main event taking place between the 8th-9th July. Our latest blog focuses on the highlights of this prestigious event and we will be monitoring the progress on relevant social media platforms to provide a follow up article next month.
July is also Independent Retailer Month, highlighting the importance of small and local retailers throughout the UK, and we look forward to sharing a blog post on that topic later on this month.
The Future of Money & Financial Technology - Fintech 2019
Between 4th - 9th July London will play host to 60+ leading speakers gathered to discuss the future of money and financial technology. This landmark event brings major authorities from around the globe together to provide the latest scoop on the innovations and challenges facing the financial technology industry.
Over 2000 attendees are expected over the 6 day event, participating in a wide diversity of activities. It is a hands-on affair offering current technologies and trends, utilised by governments, industry leaders and a wealth of organisations world-wide.
Significant research has been completed in recent years concerning the state of SME's in the UK and recognising their significant contribution to the economy. We have provided a brief summary of several such reports which analyse the situation and provide valuable insight and resources. While the final chapter of this saga cannot be written until Brexit is resolved we hope that the following resources will be of interest.
In 2016 the Economic and Social Research Council completed various studies on this topic, publishing their evidence briefing here. Their main policy recommendations focused on the need for support for SME's from the public sector, and perhaps from public-private partnerships that could deliver high quality business support.
This was followed up in 2018 with the House of Commons Business, Energy and Industrial Strategy Committee's report on Small Business and Productivity. This report concluded that current and proposed measures by Government would aid prosperity and sustainable growth. However, it added that these efforts would be undermined if bad payment practices continued and SME's were prevented from competing with their larger counterparts.
Lastly, June brought the publication of the State of Small Business Britain Report 2019 published by the Enterprise Research Council. It is no surprise that it makes for grim reading in light of the current political climate. The document focuses on research surrounding business confidence, job creation and destruction, entrepreneurship and firm growth. It also highlights many of the key messages coming out of the research program that will perhaps provide insight into the next stage of SME development upon exiting the European Union.
WrightCFO blogs
WrightCFO have published a series of articles on Brexit including a recent article on where to find advice for your business. Read the full series on our blog.
In the spirit of Independent Retailer Month, this July I will be making a concerted effort to visit shops in my local area for food, clothing and gifts. It’s a great initiative which the retail industry needs now more than ever. If you find yourself holidaying in Devon, Cornwall or South Oxfordshire this summer, why not visit WrightCFO client, Busby & Fox’s clothing and lifestyle shops. Happy shopping!
