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DIVERSIFY.. OR DIE; Biz Bureau.

Byline: Tricia Phillips

Biz NEWS 1

MORE than half (56%) of small firms have diversified to survive the recession.

Offering new products or services and targeting new customers are the most common moves.

Many are working longer hours and opening at weekends. Almost three-quarters of companies have lengthened the working week, with those in Wales toiling the longest: 23% do a 56-plus hour week

A survey by Aviva also shows that tough times are forcing firms to take risks as they cut costs in crucial areas such as business protection and operational security.

Worryingly, one in 10 (12%) of businesses admitted they don't have any commercial insurance.

Employers' liability insurance is required by law. Some 560,00 companies could be trading illegally - and will end up out of pocket if disaster strikes.

Biz NEWS 2

CASHFLOW pressure has driven more firms than ever before to charge late payment interest.

According to according to
prep.
1. As stated or indicated by; on the authority of: according to historians.

2. In keeping with: according to instructions.

3.
 debt recovery firm Lovetts, there has been a 114% increase in debts with LPI (Lines Per Inch) The number of lines printed in a vertical inch.

(language) LPI - A PL/I interpreter for IBM PCs and workstations.

ftp://ftp.wustl.edu/mirrors/msdos/pli/runpli1a.arc.

E-mail: <rcg@lpi.liant.com>.
 added in the past three months, over the same period last year.

Business can charge daily interest rates of 8% over the base rate and a minimum pounds 40 per invoice for overdue payments.

"It's a powerful incentive for people to pay up," says Charles Wilson For other persons of the same name, see Wilson (surname).

Charles Wilson may refer to:
Politicians
  • Charlie Wilson (Ohio politician) (born 1943), U.S.
, of Lovetts.

For Biz help, email bizbureau@mirror. co.uk or write to: Biz Bureau, Your Money, Daily Mirror, 1 Canada Square
''Canada Square is also the name of an office/retail complex in Toronto.


Canada Square is a public square at Canary Wharf, on the Isle of Dogs in London's Docklands.
, London E14 5AP
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Title Annotation:Features
Publication:The Mirror (London, England)
Geographic Code:4EUUK
Date:Oct 14, 2009
Words:236
Previous Article:Bling and buy; Biz Bureau.
Next Article:Dear Biz; Biz Bureau.
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