Business News Articles

UK’s trade deficit falls
The UK's trade deficit narrowed slightly in September, according to the Office for National Statistics (ONS). The deficit on trade in goods and services reduced £4.6bn, compared with a deficit of £4.9bn in August. The trade gap shrank to £8.23bn from £8.47bn. This is the second month in succession that the trade deficit has fallen following July's five-year high. However, separate fig... more

Business websites not mobile friendly
Businesses in the UK are neglecting the needs of consumers accessing websites from mobile devices, according to research released today by 1&1 Internet Ltd. The data revealed that 53% have never checked the appearance or functionality of their website for Smartphone users. From companies that have, 41% admit their website has a reduced appearance, and 36% offer reduced functionality. Three... more

SMEs not embracing global marketplace
Small and medium-sized business owners are missing an opportunity to reduce operating costs and increase revenue, according to research from Alibaba.com. A survey of just under 1,500 businesses found that 80% are failing to embrace the global marketplace with over one quarter considering themselves too small to trade with partners from outside the UK. Cultural and language barriers (21%) couple... more

UK exports to China rise 44%
UK exports to China increased by 44% in the first eight months of this year, indicating what a potentially lucrative market for small businesses this area is, according to government figures. David Cameron and Business Secretary Vince Cable travel to China next week on a major business delegation trip. "China represents the biggest source of demand in the world for many of the products that ... more

Business insolvencies fall
The number of businesses ceasing trading in the UK has declined, according to data released by the Insolvency Service. Just fewer than 4,000 businesses entered liquidation in the quarter to September, down 14% on the same three months last year and 2.2% on the previous quarter this year. The number of individuals declaring themselves insolvent also fell, with 33,935 personal insolvencies in ... more

House prices rise 1.8%
House prices in the UK increased by 1.8% in October compared with September, according to data released by the Halifax. However, this figure is boosted as it follows the biggest monthly drop on record when house prices dropped by 3.6% in September, compared with the previous month. The more stable three-month on three-month comparison showed property values dropped by 1.2% and that the avera... more

Interest rates held again at 0.5%
The bank of England has held interest rates at a record low of 0.5% for the 20th month in succession and decided to not pump more money into the economy via quantitative easing (QE). The decision to make no change to policy comes after recent figures on the economy showed good growth - gross domestic product grew at 0.8% in the third quarter - better than expected. The US recently announced ... more

Firms ‘neglecting’ health and safety
Just under half of workplaces in the UK have never been visited by a health and safety inspector, according to the Trades Union Congress (TUC). This is despite evidence that inspection and enforcement activity is the most effective way to ensure that employers comply with health and safety laws. In small companies who employ less than 50 people only 16% have had an inspection in the last yea... more

Service sector reports strong growth
The UK service sector grew stronger than expected in October, according to the purchasing managers' index (PMI) produced by data services company Markit. The PMI revealed that activity at UK service sector companies rose to 53.2 last month, up from 52.8 in September. Expectations for this month had been of a fall to 52.5. This figure means that PMI services index registered its highest level... more

Tube strike to hit Londoners
Small and medium-sized business owners in London have been advised to allow staff to work from home tomorrow to negate the effects of the latest tube strike. The 24-hour action begins tonight at 7pm and up to 60% of tube services could be out of action in the industrial action that is being brought by the RMT and TSSA unions. This will be the third strike in a dispute over job cuts for 650 tick... more