Editor: Pat Williams. E-mail pwilliams@creditman.co.uk
John Arnold. E-mail jarnold@creditman.co.uk
Site: Business Credit Management UK
URL: http://www.creditman.co.uk
Issue: Vol 4 Issue 33
Dated: 17 September 2000
Welcome to the Business Credit News UK.
In this weeks edition you will find the following topics.
UKCBI APPLAUDS END OF FUEL BLOCKADE BUT WARNS ON OVERALL COST
Industry groups join forces and set up special action group on transport taxes
The Confederation of British Industry last Thursday applauded the news that the fuel blockade is coming to an end.
But it warned that the overall cost to business will run into hundreds of millions of pounds. It said that it will take a couple of weeks before firms are operating normally.
The CBI has today formed an action group to review government policy on road-use taxes. The group, which will meet within the next few days, will make proposals for the Pre-Budget Report.
It will include the CBI, the Road Haulage Association, the Society of Motor Manufacturers and Traders, the Trades Union Congress and the National Farmers Union.
Digby Jones, CBI Director-General, said: "Now companies face the long road back to normality. They are still concerned about the time it will take to get operations back up to speed.
"They are also worried about the bottom-line impact, which is certain to run into hundreds of millions of pounds. That does nothing for job security, productivity and global competitiveness.
"The government should not think it has got out of jail. Britain needs a road-use tax system that supports competitiveness and encourages efficiency. Now is the time to accept that the current system is not delivering what our country needs.
"That is why I am pulling together key organisations to carry out a thorough assessment of road-use taxes, ranging from VAT and fuel duty to Vehicle Excise Duty and Company Car Tax.
"It is clear that the country wants change. We should all contribute to the proposals, which will be used to press for balanced change this coming November."
ENTREPRENEURS DRIVE UK ECONOMY
Owner Managed Business
UK's Top 100 entrepreneurs generate £20bn sales and create jobs for 130,000
Dr Andrew Rickman, founder of Bookham Technology, has been named entrepreneur of the year in the Enterprise magazine survey of the UK's top 100 self-made businessmen and women. Rickman founded Bookham Technology, which produces components for high speed communication, in 1988 in a room above his garage. In April this year, Bookham floated on the Stock Exchange and is currently valued at around £5 billion.
The Enterprise 100 survey, compiled by Sunday Times' Rich List author, Dr Philip Beresford, highlights the impact entrepreneurs are making in driving the economy. Collectively, the entrepreneurs employ about a third more people than the entire British army and new jobs have increased by 163% over the last five years. Total sales over for the same period have rocketed from £5.4 billion to nearly £20 billion.
Other findings from the survey include:
High-tech sector dominates: over one third of the Enterprise 100 Entrepreneurs are in computers, software, mobile phones and telephony. However, old economy businesses continue to flourish: 9% are in construction and 7% are retailers.
Female entrepreneurs feature in the top 20 for the first time, one making it into the top 10. In total, eight women feature in the Enterprise 100, two more than last year.
53% of entrepreneurs are based in the South East; the North West and Midlands are also business hotbeds, with 10 resident entrepreneurs in each.
The youngest entrepreneur in the Enterprise 100 is 29, the oldest is 72.
Between them, the top 10 entrepreneurs generate over £1.5 billion turnover and have created nearly 9,000 jobs in the last five years. Their combined personal fortunes are estimated at £5.2 billion.
The collective net worth of the Enterprise 100 amounts to around £19.8bn.
Commenting on the findings, Bronagh Miskelly, editor of Enterprise magazine, says: "What is so impressive about the Enterprise 100 Entrepreneurs is the wealth and employment they have created for others. These are truly innovative individuals who make a massive contribution to the UK economy. These 100 entrepreneurs are the standard bearers for fast growing SMEs."
Mark Hunt, head of KPMG's Owner Managed Business team, adds: "Entrepreneurs are leaders who have a hunger to succeed and a drive that has enabled them to create and grow a phenomenally successful business and not necessarily for personal financial gain."
The winners, who received their awards at a celebration dinner in London's Grosvenor House Hotel on Wednesday 6 September, include:
Neil Franklin of Dataworkforce, the telecoms recruitment provider, who wins the award for the fastest growing business - over five years his sales have increased by 9725%.
Dr Paul Drayson's Powderject Pharmaceuticals, which produces a needle-free delivery system for drugs, wins the award for greatest job creation - the company has boosted its workforce by 6700% in five years.
Anne Wood of TV production company, Ragdoll, is the first woman to rank in the Top 10 and is awarded the Woman Entrepreneur of the Year award.
Tahir Mohsan, 29, of retailer Time Computers, is honoured as the youngest entrepreneur.
TRIPLE DOSE OF GOOD NEWS MEANS RATE FREEZE
Reacting to the latest official labour market data, published on the 13 September, Ian Fletcher, Chief Economist of the British Chambers of Commerce said:
“The triple dose of good news this week, with lower inflation, factory gate and average earnings figures suggests a very benign inflation outlook and three compelling reasons why interest rates should be kept on hold at the Monetary Policy Committee’s October meeting.
"The BCC welcomes this latest set of very positive figures on employment, which continue to show that jobs are being created, without accompanying inflationary pressures. Employment growth without inflation has only been achieved because of the flexibility in the UK's labour market.”
THE EURO
The European Central Bank and euro-area finance ministers issued a joint statement affirming their confidence in the Euro. The finance ministers also announced that efforts to bolster the currency would include renaming themselves the Euro Group and lengthening their meetings. The euro again hit a record low against the dollar.
Amsterdam, 13 September 2000
The international credit insurer NCM is concerned about the continuing increase in oil prices. The risk that oil prices will continue to rise during the coming winter is a real possibility. Given that OPEC now only represents 30% of the world's oil production, its influence has considerably declined which increases the risk even more, says NCM. The possibility of a new oil crisis could negatively influence the economies of EU countries, partly because of the weak position of the Euro against the dollar. Therefore, market developments will be very unpredictable in the coming months and trade risks will increase, according to NCM.
Even though OPEC has offered to increase oil production the outcome of increased production will only become apparent in the long term. Currently the market remains extremely volatile because of the small stock volumes, especially with the winter approaching in Europe and North America. Oil is paid for in US dollars. Oil prices and the value of the dollar are both increasing, while the Euro is still struggling. Consequently the pressure is mounting from both sides, according to the NCM economists. This will not just influence the inflation rate, but also have a downside conjunctural impact. The ECB will be left with no other option than to raise interest rates further with negative consequences for interest sensitive business sectors like the building industry, the telecom industry and the high-tech sector which are already heavily indebted.
Other industries, like the transport and chemicals sectors also face very high costs. It is questionable whether these costs can be passed on. This could have a negative influence on profit margins.
NCM asserts that trade risks in these industries and in vulnerable sectors of business will be influenced negatively by the rising oil prices, the decrease in domestic demand and the high dollar rate. This is already the case in The Netherlands and the UK. The US and the UK markets appear to have suffered less from the oil price explosion because the $/Pound-appreciation has compensated for the higher oil price. NCM expects that monetary authorities in the US will take recourse to higher interest rates to curb inflationary trends after the elections in November. As soon as it becomes apparent that the US dollar is highly overvalued and that the US economy is growing on borrowed money, this course of action may change.
The NCM Group, a privately owned company with headquarters in Amsterdam, annually insures more than Euro 126 billion of business worldwide against the risk of non-payment. It has invested heavily in customer service and technological innovation and has operations in Belgium, Denmark, France, Germany, Ireland, Italy, Malaysia, The Netherlands, Norway, Spain, Sweden, USA and UK.
FIRST-EVER NATIONAL CREDIT WEEK TO TAKE PLACE: 4-10 MARCH 2001
Every aspect of the commercial and consumer credit industry will fall under the spotlight during the first National Credit Week, to take place from 4-10 March 2001.
The initiative aims to highlight everything from the credit options available to small businesses, the slow payment issue and the impact of legislation through to bad debt problems experienced by compulsive shoppers. A major focus of National Credit Week will be Credit 2001, the annual forum for the very latest developments affecting the industry, to be held at Olympia, London from 7-8 March. Over 30 companies have already signed up to take part in the week. Other events will include workshops and seminars at a variety of UK venues.
Sarah Williams of National Credit Week said that for businesses and consumers alike, credit remained a topical - and sometimes contentious - issue.
She said: "National Credit Week will bring together suppliers, consumer bodies, business users and the wider public in a series of events which take an in-depth look at today's credit industry.
"Credit affects almost all of us to varying extents and activities from 4 -10 March 2001 aim to demonstrate that instead of being a negative issue, credit has many positive benefits when managed effectively."
For further information contact:
Sarah Corbey/Louise Findlay-Wilson
Findlay-Wilson PR
Tel: 01993 823011 Email: sarah@findlay-wilson.co.uk
GETTING PAID AND LOVING IT - A NEW BOOK
"If you ever felt bad about asking for money, this book is for you. Every year thousands of hard working people go broke orcan'tt pay their bills, not because they are unsuccessful, but because they are unwilling or unable to get paid. ‘Getting Paid and Loving it’ will show you simple effective systems and forms you can use to manage debt and debtors; it will develop your ability to ask for payment the way you want to be paid; and it will provide you with the secrets of positive confrontation to successfully help others do what you want them to do.
This book will help to simplify your life and increase your chances of success. It will help you to feel better about your work and your business by……Getting Paid and Loving it"
To order visit: www.getting-paid.com
The receivers have been called in at West Midlands-based Independent Energy Holdings plc after the company had to suspend trading in its shares on the 8 September 2000 .
Following this morning's announcement, Roger Oldfield and Myles Halley of KPMG Corporate Recovery have been appointed as the joint administrative receivers.
Independent Energy Holdings employs around 160 people, is headquartered in Solihull near Birmingham and currently serves 242,000 business and residential customers across the country.
OFGEM (The Office of Gas and Electricity Markets) have been quick to stress that supply to all customers will not be affected.
Commenting on the appointment, Myles Halley said: "Under our control, the company will continue to trade as normal and we have already had expressions of interest from several parties."
*** FORTHCOMING CREDITORS MEETINGS ***
Contributed byhttp://www.insolvency.co.uk
For more detailed information and ALL the British Isles insolvency's (liquidation's, receiverships, administrations, dividends, creditors) please visit http://www.insolvency.co.uk
From 18/09/2000 to 26/09/2000 Number of Creditor meetings : 157 Section Company Time Venue 138 Scotland - Interim Liquidator calling Creditors Meeting 21/09/2000 Coronaprime Ltd 10.00 am Edinburgh 22/09/2000 Ardersier Building Services Ltd 12.30 pm Inverness 26/09/2000 Ramona Foods (Glasgow) Ltd 12.00 pm Glasgow S Broadley Painters & Decorators Ltd 11.00 am Glasgow 23 Administrator Calling a meeting of Creditors 19/09/2000 Karl Cramp Sports Ltd 11.30 am Manchester 20/09/2000 Rockdale Service Station Ltd 03.00 pm London 48 Receiver calling unsecured Creditors Meeting 18/09/2000 Wyndham Engineering (Site Div) Ltd 10.30 am Cardiff Wyndham Engineering Ltd 10.30 am Cardiff 19/09/2000 Accident Courtesy Cars Ltd 12.00 pm London Accident Support Unit Ltd 12.00 pm London Collide A Line Ltd 12.00 pm London Collision Replacement Cars Ltd 12.00 pm London Crash Care (UK) Ltd 12.00 pm London Crash Replacement Cars Ltd 12.00 pm London Western Help Hire Ltd 12.00 pm London 21/09/2000 Carter-Voce Ltd 11.00 am London Dacom Electronics Ltd 10.00 am Sheffield 25/09/2000 Biblios Publishers Dist Services Ltd 10.30 am London 26/09/2000 E T W Dennis & Sons Ltd 11.00 am York 67 Scotland - Receiver calling Meeting of unsecured Creditors 18/09/2000 Bruce Clark (Scotland) Ltd 03.00 pm Edinburgh 20/09/2000 Promat Engineering Services Ltd 10.00 am Edinburgh Promat Holdings Ltd 10.00 am Edinburgh Promat International Ltd 10.00 am Edinburgh Promat Manufacturing Ltd 10.00 am Edinburgh Promat Technical Services Ltd 10.00 am Edinburgh 84 N. Ireland - Creditors Voluntary Liquidation 22/09/2000 Fisher Crawford Ltd 10.00 am Belfast Popular Suppliers Ltd 11.00 am Belfast 95 Members converting to Creditors Voluntary Liquidation 19/09/2000 Milford Plastics Ltd 12.00 pm Basingstoke Rainford Engineering Ltd 01.00 pm Basingstoke S D L Sales Ltd 11.00 am Basingstoke 20/09/2000 Rabbot Repro Ltd 10.00 am St Albans 98 Creditors Voluntary Liquidations 18/09/2000 Alexander Wright & Young Ltd 11.15 am Bromley Atlantic Marine Ltd 11.00 am Gosforth Bendminster Ltd 10.30 am London C & E Trading UK Ltd 02.30 pm London Communicado Creative Market Serv Ltd 11.00 am Bristol Cumberland Display Solutions Ltd 10.30 am Billericay D + M Paper Products Ltd 12.00 pm Manchester DKW Electrical Distributors Ltd 10.30 am Lincoln Data & Virtual Environments Ltd 11.30 am Manchester Earlestown Recruitment Ltd 10.30 am Liverpool Housememo Ltd 11.15 am North Yorkshire Jasmine-Louise Ltd 03.00 pm London Lion Heart Catering Ltd 03.45 pm London Machinery Services Ltd 12.00 pm Ashford Manor Glass Systems Ltd 03.00 pm Swansea Memorymakers UK Ltd 11.00 am Glasgow Michelles First Choice Select Ltd 11.00 am Todwick Movability Ltd 11.00 am London Overlander Trailers Ltd 11.00 am Birmingham Power & Dta Installations Ltd 11.30 am Southampton R M Underwriting Ltd 11.30 am Watford Tiger Print Litho Ltd 11.30 am Birmingham Tony Jacobs Screen Printing Ltd 12.00 pm Ashford Touchbase International Ltd 11.00 am Marlow 19/09/2000 158 Realisations Ltd 10.30 am Edinburgh Bearkley Homes Ltd 11.00 am Plymouth Beer-Flow Cooling Services Ltd 11.00 am London Charnwood Loft Conversions Ltd 11.00 am Leicester Crestlock Ltd 11.30 am Wetherby Cumberland Marketing Ltd 11.30 am London EBA Graphic & Printing Ltd 10.30 am Guildford G & R Fashions Ltd 11.30 am Manchester Greystone Systems Ltd 10.30 am Birmingham Hednesford Control Systems Ltd 10.30 am Aldridge Intra-Logic Ltd 10.00 am London J & J Groundworks Ltd 10.00 am Edinburgh KW Electronics Ltd 12.00 pm St Asaph McLeod Slape Asso (Worldwide) Ltd 12.00 pm Brighton Pentacom Communications Ltd 11.00 am London Post Masters Kent Workers Ltd - The 11.00 am Chatham Sundial International Ltd 10.15 am Leeds Valriver Ltd 10.30 am Yarm Windmill Murat Machines UK Ltd 11.30 am Birmingham 20/09/2000 Altima Ltd 12.00 pm London Andrew Ainsworth Designs Ltd 11.30 am London Anglia Telecomm (Peterborough) Ltd 11.30 am Bedford Bracklodge Ltd 12.00 pm London Branstall Engineering Ltd 10.30 am Droitwich Branstall Metal Structures Ltd 12.00 pm Droitwich Contract Development Services Ltd 03.00 pm Glasgow D B Hughes Ltd 11.00 am Birmingham D N H Ltd 11.00 am South Ruislip Edinburgh Flowers Sundries & Gifts Ltd 11.00 am East Lothian Eldonbury Ltd 12.00 pm London Envy Us Ltd 11.00 am London Epoxy Floor Systems Ltd 11.00 am Birmingham GRMS 1991 Ltd 11.00 am Northampton Keen & Able Scaffolding Ltd 12.00 pm London Level 1 (FPM) Ltd 03.00 pm London Level 1 Group Ltd 03.45 pm London Level 1 Support Ltd 03.15 pm London Level 1 System Solutions Ltd 03.30 pm London Lima Cars (Sidcup) Ltd 11.00 am London North Eastern Civils Ltd 11.15 am Bately Oliana Ltd 12.00 pm London Oxford Structural Services Ltd 02.00 pm London Palatine Cuisine Ltd 02.30 pm Manchester Poweruser Ltd 11.30 am Southampton Reflex Media Group Ltd 10.00 am London Scot-Tech Surveillance Ltd 03.00 pm Glasgow Technical Staff Solutions Ltd 11.30 am London Vickers Flooring Services Ltd 10.30 am Hornchurch Yellow Black Ltd 02.30 pm Leeds 21/09/2000 A I G Computer Services Ltd 10.30 am Guildford Aaargh Animation Ltd 12.00 pm Cardiff Aaargh Holdings Ltd 12.00 pm Cardiff Birch Engineering Design Ltd 02.30 pm Leeds County Contractors (Kent) Ltd 11.00 am Chatham Fowlers Depositories (Morc & Heys) Ltd 12.00 pm Manchester Frank & Shirleys Ltd 11.00 am London Hannan Inns Ltd 10.15 am London Hyperion Exec Ltd 10.30 am Reading Independent Mortgage Brokers Ltd 12.00 pm London Nobleclear Ltd 11.30 am London Travellers Book Store Ltd - The 10.30 am Reading Trident Computing Ltd 11.00 am London VT Group Plc 10.20 am Leeds Van World (UK) Ltd 12.00 pm Carlisle Vine Yard Taverns Ltd 10.15 am London W & B Construction Ltd 10.30 am Driffield Weave & Craft Ltd 11.00 am Harpenden Yellow Electronic Solutions Ltd 12.00 pm London 22/09/2000 Canine Cmoforts (Whitton) Ltd 03.30 pm Slough Celsius Photographic Imaging Ltd 11.45 am Glazebrook Cheshire Investigation Services Ltd 11.30 am Altrincham ETS (Lincs) Ltd 12.00 pm Hale Equals Children Wear Ltd 02.30 pm Southend-on-Sea Farpoint 2000 Ltd 11.00 am Birmingham Genius Marketing Ltd 11.00 am London Incredible Shoe Co of London Ltd - The 12.00 pm London Innall Ltd 11.00 am Chorley Kin Multimedia Ltd 11.15 am Glazebrook Lakebar Ltd 11.00 am Northwood McAnna & Sons Civil Engineering Ltd 11.00 am Southend-on-Sea Ronald Hagman Ltd 03.00 pm Billericay Scaffsafe Ltd 11.30 am Moorhouse Taylor Griffiths Holden Inter Ltd 11.30 am Glazebrook Wednesfield Building Supplies Ltd 12.00 pm Birmingham 25/09/2000 Executive Press Ltd 03.30 pm Slough Halo Consultancy Ltd 12.30 pm London McFadyen Electrical Ltd 11.00 am Birmingham Prompt Data Solutions Ltd 10.30 am Sutton Topwebsites Ltd 12.00 pm London 26/09/2000 Bexley Transport Ltd 11.30 am Croydon C R Polythene Ltd 10.30 am Droitwich Chatterbox Distribution Ltd 03.00 pm Northwood Hallsmark Transport Ltd 12.00 pm Hale Harrisons Motor Services Ltd 11.30 am Sheffield Heydon Ltd 12.00 pm London McKenzie Roberts Ltd 11.00 am Nottingham Parkway Office Supplies Ltd 11.30 am Altrincham Prospects Care Services Ltd 11.00 am Bristol Rams International Ltd 11.30 am Southampton Red Galleon Ltd 11.30 am Southend-on-Sea Ultimatum Records Ltd 11.30 am London Worldwide Ultimatum Trax Ltd 12.00 pm London
TW LW TW LW
USA 1.42 1.46 Canada 2.11 2.15
Austria 22.60 22.39 Portugal 329.27 326.34
France 10.77 10.67 Belgium 66.25 65.66
Finland 9.76 9.67 Italy 3180.19 3151.85
Germany 3.21 3.18 Sweden 13.79 13.65
Holland 3.61 3.58 Switzerland 2.50 2.52
Spain 273.27 270.84 Ireland 1.29 1.28
Australia 2.58 2.54 Denmark 12.26 12.27
Hong Kong 11.08 11.43 Euro 1.64 1.62
Africa Com 10.14 10.18 Saudi Arabia 5.33 5.50
India 64.92 67.04 Malaysia 5.40 5.57
Singapore 2.47 2.52 Norway 13.20 13.17
Japan 152.11 155.29
TW This week LW Last week.
The London International Financial Futures Exchange suffered a three-hour failure of its electronic-trading system, Connect. The breakdown may prove a setback for Liffe; it hopes to sell the system to other exchanges, including the LSE.
Kingfisher, the large UK retail group, announced that it will demerge its British retail chains, Woolworths and Superdrug, from its B&Q and Comet stores. The group, whose shares have underperformed badly, also issued a profits warning.
Nomura, a Japanese bank, pulled out of a deal to buy Britain's much criticised and poorly attended Millennium Dome for 105m pounds ($148m). The bank, which had a large team investigating the deal, claimed that it had been unaware previously of the financial confusion, unforeseen costs and future liabilities at the Dome.
Hewlett-Packard, the American technology company, is in talks with PricewaterhouseCoopers to buy the consultancy arm from the "big five" accountancy firm. HP would rapidly expand its consultancy capability at a time when IT firms need to offer both consultancy and technology. PwC would satisfy American regulators who think there is a conflict of interest between auditing and consulting.
Source - The Economist
Alvis, announced pre-tax profits of 5.93 million pounds, after exceptional charge, on turnover of 106.4 million, for the six months ending 30th June 2000. Earnings per share stand at 3.2p.
BAE Systems announcedd pre-tax profits of 214 million pounds, after exceptional charge, on turnover of 5,663 million, for the six months ending 30th June 2000. Earnings per share stand at 2.6p.
Geest announced pre-tax profits of 16 million pounds, on turnover of 303.9 million for the six months ending 1st July 2000. Earnings per share stand at16.8p.
Trinity Mirror announced pre-tax profits of 81.9 million pounds, after exceptional charge, on turnover of 559.9 million, for the six months ending 2nd July 2000. Earnings per share stand at 20.1p on increased capital.
BYERS GIVES DETAILS OF GOVERNMENT ACTION FOLLOWING COATS VIYELLA ANNOUNCEMENT
The Secretary of State for Trade and Industry, Stephen Byers, on the 8 September gave details of the measures Government is taking to respond to this week's announcement that Coats Viyella intend to dispose of a number of their textile and clothing businesses. Mr Byers said:
"Some would argue that there is no legitimate role for government to play and that we should simply leave things to the market.
"We believe that there is a role for government. An active government, whilst recognising that ultimately these will be commercial decisions, should do what it can to assist people and sectors through the process of change which is taking place around us and particularly in the textile sector.
"On Wednesday I made it clear that we would respond rapidly and effectively to the announcement from Coats Viyella. Since then we have been talking to Coats Viyella and all the other relevant parties at both a national and regional level.
"It is clear that the first priority must be to try and find a new owner or owners for the factories affected by this decision.
"Deloitte and Touche are managing the divestment on behalf of Coats Viyella. We have indicated to them that through Invest UK and the Regional Development Agency we will put together as attractive a package as we can.
"In addition we are in discussions with Coats Viyella's customers to determine their willingness to continue their existing agreements with the factories affected.
"There will be many businesses in the supply chain who will also feel the effects of Coats Viyella's decision. We shall therefore set up a programme of help and assistance to those businesses to see them through any dislocation in orders that may occur and provide them with the opportunity of finding new customers or to diversify into new markets."
We are also taking steps to help those individuals affected by this decision. These include:
Mr Byers added
"This is a difficult time for parts of the textiles industry. That is why I announced a 12 point plan to help the industry in June. This includes measures to help exporters, support UK design talent and promote and develop new technical developments for the industry. This plan is designed to enable to industry to adapt to the challenges of the knowledge economy."
"The Government will work with all relevant parties to do what we can to safeguard jobs and support those workers affected by this decision."
Coats Viyella announced their intention to dispose of their Contract Clothing, Home Furnishings and Branded Clothing Businesses on 6 June. Deloitte & Touche are managing the divestment on behalf of Coats Viyella.
MERGER CLEARANCE
There is no merger news this week.
Government commits £25 million to continue the good work
Small businesses have smashed the Government's target for getting online, Prime Minister Tony Blair and e-Minister Patricia Hewitt announced on the 11 September 2000 at the launch of 'UK online'.
1.7 million small and medium sized enterprises (SMEs) are now online, according to figures from the DTI's forthcoming International Benchmarking Study. This is an increase of 1.1million over last year and exceeds the Government's target of getting 1.5 million businesses online by 2002 two years early.
Other figures released include:
The Prime Minister and Patricia Hewitt also announced £15 million of funding for UK online for business (formerly the Information Society Initiative - ISI). This is in addition to the £10 million announced in this year's budget. The money will be used for expanding UK online for business and providing a further 100 advisers.
E-Minister Patricia Hewitt said:
"This is good news. Businesses are responding to the challenges of the information revolution and seizing the opportunities it presents. However, there is still more to be done.
"We must continue to work towards our target of getting one million SMEs trading on-line by 2002. The challenge now is not just getting connected but succeeding online using the new ways of working that e-commerce and new e-businesses practices bring.
"That is why we are providing £25 million to expand and improve the assistance we provide through UK online for business to help our SMEs succeed in the knowledge driven economy."
'UK online' is a partnership between Government, industry, the voluntary sector, trade unions and consumer groups aimed at getting people, business and Government online. The Prime Minister today announced three packages of initiatives under 'UK online' to achieve these aims.
The Information Society Initiative (now being rebranded as UK online for business) has been running since 1996. It currently has a network of 103 advice centres and offers accessible, independent, jargon free advice to SMEs to help them find the right commercial solutions to meet their business needs.
The network of UK online for business advisers are currently being integrated into the Business Link network in England and its counterparts in Scotland, Wales and Northern Ireland.
To find your nearest UK online for business adviser, call the Infoline on 0845 7152000 or visit the website at http://www.ukonlineforbusiness.gov.uk
The DTI defines a business as being 'online' or 'connected' if it uses external email frequently, has a web-site or uses Electronic Data Interchange - EDI. A business is defined as 'trading online' if it engages in both payment and ordering activities online with customers or suppliers. The percentages in this news release are calculated by using numbers of businesses weighted by the number of employees. For example, '81% of businesses' should be understood to indicate 'businesses accounting for 81% of all UK employees'
Tuesday 3 October 2000 ICM Credit Scotland 2000 (Conference and Exhibition) Hampden Park Football Stadium, Glasgow Anyone interested in attending (or exhibiting) should contact David Ancliffe on (0131 200 8686). Friday 6 October 2000 Swindon Branch of the ICM Seminar Telephone Collection Techniques Credit Scoring and Vetting Procedures Receiverships/Liquidations Prioritise Your Workload Cost 85.00 members, 95.00 non-members Lunch included and Refreshments Contact Barry Parkin on 01793-766471 during working hours Tuesday 17th October 2000 Chilterns Branch of the ICM Insolvency Reform and Corporate Restructuring To be held at Kodak, Hemel Hempstead 6.30 for 7.00pm Friday 24th November Chilterns Branch of the ICM Annual Dinner Your Branch Committee invites you and your Colleagues, Suppliers or Customers to a formal Dinner, a Speech and Toasts by our Special Guest Speaker. This Years sumptuous occasion is at Putteridgebury near Luton, one of the most beautiful of locations in the branch area. Tickets : #30 Per member, #50 Member & guest or A corporate table for the modest price of #275.00 For details, tickets & Table reservations please contact: Jennifer Scott 01992 553931, Stuart Hopewell 020 7465 5908, Friday 20 October 2000 Millennium Annual Dinner of the ICM Drapers Hall, City of London. # = pounds sterling
To unsubscribe to this list please send e-mail addressed to jarnold@creditman.co.uk as follows:
unsubscribe credit-news your e-mail name and address
Business Credit Management UK: John Arnold jarnold@creditman.co.uk
Business Credit News UK: Pat Williams pwilliams@creditman.co.uk