July 2011 Archives

Businesses that are serious late payers are causing their suppliers unnecessary hardship and misery according to the Forum of Private Business.

Many companies are afraid to speak up because they fear losing work and business. However, the FPB has a Late Payment Hall of Shame where users can anonymously name and shame those who are turning the screw.

To enter a late payer into the hall of shame, the FPB are asking for email to be sent to campaigns@fpb.org together with any background information and copies of correspondence. 

Good luck.

According to the recently released SME Finance Monitor, only two-thirds of small firms (that is, those with fewer than 10 employees) are getting the finance they need. A third of small firms are turned down when they apply for loans. 

But in fact the news for small firms is worse than the statistics suggest, because half of the small firms surveyed said they wouldn't even apply for a loan in the first place. Why? Because they think they will be turned down.

Widespread mistrust of banking institutions hasn't been helped by the disappearance of old-style branch banking. 

The banks need to get it right. But in the meantime firms are relying on other sources of finance, including factoring and leasing - and extended payment terms too. Watch out, that SME may be using your credit line as a bank!

It wasn't that long ago - March 23 - when BusinessMan reported that HMRC was warning taxpayers about phishing emails being sent out by fraudsters. Well HMRC is again alerting taxpayers to be on their guard against more of the same.

This time the email informs the recipient they are due a tax rebate, and provides a click-through link to a cloned replica of the HMRC website. The recipient is asked to provide their credit or debit card details. Fraudsters then try to take money from the account using the details provided.

Since the beginning of April, more than 46,000 phishing emails have been reported by customers. During the same period of time HMRC helped shut down more than 150 scam websites.

HMRC say that they only ever contact customers who are due a tax refund in writing by post. They don't use telephone calls, emails or external companies in these circumstances.

HMRC strongly advises taxpayers to check the advice published at www.hmrc.gov.uk/security/index.htm to see if the email received is listed;
 forward suspicious emails to HMRC at phishing@hmrc.gsi.gov.uk and then delete it; not to click on websites, links contained in suspicious emails or open attachments; and follow advice from www.getsafeonline.co.uk.

Here's a question for you.

What would you do if you received an unsolicited email stating that "in order to have your company inserted into the World Trade Register's 2011/2012 directory, please print, complete and return the enclosed to the following address" and which had at the end a tag which said "updating is free"? 

Would you do as you were asked, thinking it could do no harm as the deal mentioned no charges? Or would you junk the email?

A round of applause to those who say they would reach for the delete button. It appears that we're looking at a very well put together round robin which lulls its victims into a three year, €995 per annum contract.

The detail is in small, hard to read, print at the end and nicely proves the point that you really should read every word before you sign something.