News in brief: alternative finance; software; the EU

News in brief
News in brief

Aussie coffee group secures £800k via Crowdcube

Australian coffee and food group Beany Green has closed its Bondi Bond 38 days early, raising £800k via Crowdcube in just under a week. The cafés serve hand-roasted speciality coffee, Great Taste award-winning banana bread, Time Out-acclaimed healthy lunchtime detox boxes and bottomless brunches praised by the Evening Standard.

More than 220 savvy investors rushed to back the Bondi Bond, investing an average of £3,500 each into the Australia-based independent. The combination of solid historical revenue growth, rare early profitability and an attractive 11% interest rate drove investors to step up their ticket sizes and get on board early.

Founder Prue Freeman said: "As announced last week, we will use the £800k investment to help fund our expansion to two additional prime central London locations in 2016. We are committed to creating truly individual destinations with real personality, great coffee and art and big bold healthy food.”

New research stresses the importance of choosing the right software

Global research from SAP has revealed the importance for small and midsize enterprises (SMEs) to design their businesses to run simply from the beginning.

As businesses grow, they gradually add new software and processes that introduce complexity into their operations, creating a network of disjointed solutions that can hamper efficiency and growth.

According to a survey of small and midsize businesses conducted by the online business journal of the Wharton School of the University of Pennsylvania, Knowledge@Wharton and SAP, almost three quarters (72%) of leaders and team members say business complexity has hurt efforts to meet process and decision-making goals. More than 30% said it “strongly inhibited” that ability, and 58% pointed directly to technology complexity as the culprit.

Accountants and lawyers want the UK to remain in the EU

Members of the UK200Group of accountancy and lawyer firms have voted at their annual conference, with 54% having already decided that the UK should remain a member of the EU.

Only 6% have made up their mind that the country should leave, whilst just under a quarter (24%) believe that the UK should remain members but they could be persuaded to leave, in contrast to nine per cent who are in favour of a Brexit, but could be persuaded to remain.

Interestingly, despite these results, 35% think that David Cameron should campaign to remain in the EU, and a dramatic shift in the political position of Corbyn’s Labour party is seen by 52 per cent of UK200Group members as potentially causing a split. Just under a fifth (19 per cent) think it’s good to have a socialist voice, whilst four per cent fear militant employee action could follow.