Starting a new business? Get 40% off our accountancy services for 3 months! 😎

x

The accounting and management software company Sage, has increased revenues over the last 12 months by four percent to £1.33 billion. The company has also boosted its customer base by 261,000. However, the company remains cautious, as statistics show that Small and Medium Enterprises remain uncertain about the future of the UK economy.

Business for the company’s branches in Ireland and the UK grew by four percent, which was in line with the outcome for other areas of Europe. The strongest growth was seen in Poland, which increased by 24 percent. However, Spain contracted by four percent in a difficult economy.

According to Guy Berruyer, the chief executive of the Newcastle-Upon-Tyne business, “concrete progress” was evident although he had significant concerns for the coming 12 months. The Sage Business Index shows that businesses remain uncertain of the economy’s future, with the Eurozone and a number of other factors having a detrimental effect on their performance. Berruyer said that if a “clear recession” in the UK occurred, this could affect performance in other countries resulting in contraction.

The uncertainty blurs the financial outcome for Sage, as two thirds of their revenue is secured from recurring income, with subscriptions for support and updates to software. However, the other third of the company’s revenue is income from licences for new software. This income suffered during the last recession. Mr Berruyer said:

“When there is bad weather outside, companies reduce the size of their sails.”

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

Read more posts...

Staff Spotlight: Charlotte Hughes, Accounts Junior

This month we spoke to Charlotte Hughes, Accounts Junior at The Accountancy Partnership! Give an overview of the duties, functions and responsibilities…

Read More

Staff Spotlight: Rebecca Boyd, Accounts Junior

This month we spoke to Rebecca Boyd, Accounts Junior at The Accountancy Partnership! Give an overview of the duties, functions and responsibilities…

Read More

February 2024 Client of the Month: CHERESHNIVSKA

This month we spoke to Iryna, CEO and Founder of CHERESHNIVSKA!  CHERESHNIVSKA | Instagram | Facebook Hey Iryna! Tell us about your business CHERESHNIVSKA…

Read More
Back to Blog...

Confirm Transactions

The number of monthly transactions you have entered based on your turnover seem high. A transaction is one bookkeeping entry such as a sale, purchase, payment or receipt. Are you sure this is correct?

Yes, submit my quote
No, let me change it

Please contact our sales team if you’re unsure

VAT Returns

It is unlikely you will need this service, unless you are voluntarily registered for VAT.

Are you sure this is correct?

Yes, the business is VAT registered
No, let me change it

Call us on 020 3355 4047 if you’re not sure.

Bookkeeping

You will receive our bookkeeping software Pandle for free, as part of your package.

You can use this to complete your own bookkeeping, or we can provide a quote to complete your bookkeeping for you.

Please select and option below:

I will do my own bookkeeping
I want you to do my bookkeeping

Call us on 020 3355 4047 if you’re not sure.