Number of firms going bust jumps by 16%

first_imgDespite a noteworthy increase in house prices last year, the number of estate agents going out of business has shot up, according to a major accountancy firm, Moore Stephens.Residential property prices in the UK rose by 6.7 per cent in 2015, according to the ONS, led by gains in England, at 7.3 per cent, but this was not enough to prevent 185 agents going bust last year, up from 160 in 2014, as local agencies were squeezed out by larger brands and ’no frills’ rivals, such as online players like Housesimple and PurpleBricks.The volume of agencies closing bucks the UK trend of decreasing numbers of insolvencies, with the national rate of business insolvencies across all sectors declining by 9 per cent over the same period from 16,558 to 15,027.Moore Stephens believes that the fixed-fee business model of many online agencies is putting increased pressure on margins for high street agents.At the same time, Moore Stephens says that local firms are losing business to larger chains that tend to have bigger sales and marketing budgets and can break into new local markets by offering greater incentives, such as a zero-commission deal.Mike Finch, Restructuring & Insolvency Partner at Moore Stephens, commented, “The rising number of ‘no frills’ estate agents at one end of the market and modern, highly branded estate agents is posing a threat to smaller traditional firms in a crowded field.“Small high street agencies, with their expensive shop space and cost of employees cannot match the ultra-low commissions of online estate agents.“Those smaller firms do not have the budgets needed to compete with the big chains on marketing spend, investments in database technology, mailshots and newspaper advertising that larger estate agents can afford.“If a small high street agent cuts costs in order to match the commissions of online agencies, they then put themselves at risk of losing businesses to those big agencies that can outspend with more expensively fitted out offices and customer care.”high street agencies agencies closing business insolbencies estate agents going out of business firms going bust March 11, 2016The NegotiatorWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021 Home » News » Agencies & People » Number of firms going bust jumps by 16% previous nextAgencies & PeopleNumber of firms going bust jumps by 16%The number of UK agents going out of business has soared, new report claims.The Negotiator11th March 20160660 Viewslast_img read more

Gojek, Traveloka will not offer courses in preemployment card training: Program management

first_imgThe program, which aims to help people whose jobs and businesses had been hit by the COVID-19 outbreak, eventually partnered with eight online learning platforms, including Skill Academy by Ruangguru, MauBelajarApa and Pintaria, to provide such courses.The preemployment card program, which was launched on April 11 to accommodate 5.6 million eligible recipients this year, recently drew criticism over its lack of transparency in appointing its partners.Many accused the government of conflict of interest for partnering with online learning platform Skill Academy, which was linked to then-presidential expert staff member Adamas Belva Syah Devara. He later resigned from his post and continued his role as CEO of education tech firm Ruangguru, the parent company of Skill Academy.Denni said her side had held consultations since last year with tech companies, researchers, labor unions, the Indonesian Chamber of Commerce and Industry (Kadin), the Indonesian Employers Association (Apindo) and representatives from more than 50 companies before the appointments.The current eight partner platforms were chosen because they had met the requirements, such as operating at a national scale, the necessary information and technology capacity, relevant courses and partnerships with training institutions.“We invited Bukalapak, Tokopedia, Gojek and others, but they do not offer courses,” said Denni, who formerly served as the President’s economic policy adviser. “That was the reason we invited Ruangguru and MauBelajarApa.”Gojek, employing more than 1 million drivers, is however, partnering with the program by providing a payment platform through its e-wallet Gopay. The preemployment card program is also partnering with two other digital payment platforms,  Ovo and LinkAja, and state-owned lender Bank Negara Indonesia (BNI) to disburse cash assistance as part of the Rp 3.5 million (US$231.66) in benefits for each recipient.Topics : The management of the government’s preemployment card program revealed Wednesday that it had failed to persuade ride-hailing decacorn Gojek and online airline ticketing and hotel booking unicorn Traveloka to be its partners.The management’s executive director, Denni Purbasari, said her side had asked Gojek and Traveloka, valued at US$10 billion and $1 billion respectively, to provide online courses to enhance the skills of the program’s eligible unemployment benefit recipients.“Gojek and Traveloka said: ‘We do not want to participate right now,’” Denni said in an online talk. “After making their assessments, they concluded that [the offer] was not in line with their core businesses.”last_img read more

Owen signs for Stoke

first_imgFormer England striker Michael Owen has joined Stoke City on a free transfer, subject to Premier League Board approval, the club announced Tuesday.Owen, who made his name at Liverpool before joining Real Madrid, has signed a one-year deal following his release from Stoke’s Premier League rivals Manchester United at the end of last season.He has enjoyed an impressive career, scoring 221 goals in 473 appearances.But the 32-year-old’s career has been blighted by a series of injury problems and he has started just one Premier League match in the last two seasons.And it is that fitness record which has led to reports, still to be confirmed by Stoke, that he has signed on a pay-as-you play deal.Although he was also linked with Liverpool and Sunderland, Owen insisted Tuesday he was “always keen to join” Tony Pulis’ side. After signing a one-year contract, he posted on Twitter: “Delighted to have signed for Stoke subject to Premier League approval.“We have been in talks for a while and it was a club I was always keen to join.“I’m particularly excited at the prospect of working under Tony Pulis.“He has assembled a great squad that I look forward to joining.“I’m now looking forward to contributing as much as possible to the club and can’t wait to play in front of a great set of supporters. “Thanks for your kind messages everyone. Can’t wait to get going again!”Clubs are able to sign free agents outside the transfer window but are only able to field them in the Premier League if they have previously registered fewer than 25 players.The Premier League said in a statement Tuesday: “The Premier League board is currently considering an application from Stoke City to register a player and, subsequently, their squad list will be confirmed at a later date.”Owen is set to becomes City’s seventh signing of the summer, following the arrivals of Jamie Ness, Geoff Cameron, Michael Kightly, Maurice Edu, Charlie Adam and Steven N’Zonzi.For England, Owen scored 40 goals in 89 appearances, including a hat-trick against Germany in a 5-1 victory just over a decade ago. – AFPlast_img read more