Business News Articles

Maternity proposal will cost SMEs £7,000
EU plans to extend maternity leave to 20 weeks will cost small businesses an extra £7,000, according to the Federation of Small Businesses (FSB) Ahead of the EU vote on proposals to extend maternity leave to 20 weeks from 14, the FSB is concerned that the additional cost to the UK - estimated to be £2.5bn - will be passed onto small businesses and could act as a deterrent to them taking on ne... more

Double-dip fears ‘exaggerated’
The UK economic recovery is losing momentum but chances of a double-dip recession has been exaggerated, according to a report from the Ernst & Young ITEM club. The report predicts that the economy will grow 1.4% this year and 2.2% in 2011 - but warns that it will slow in the coming months. "The economy is likely to slow over the winter following a surprisingly positive first half of the year... more

UK banks propose fund for SMEs
UK banks have proposed creating a £1.5bn fund to invest in small businesses. The business growth fund is a key proposal in a report to the Treasury. Chancellor George Osborne and Business Secretary Vince Cable said it was "an important first step" by the banks. "We have been absolutely clear that banks need to improve the lending environment for small businesses. It is important that the ba... more

Unemployment falls to 2.45m
The number of people unemployed in the UK declined by 20,000 to 2.45 million in the quarter to August, according to the Office for National Statistics (ONS). This decline means that the unemployment rate has fallen from 7.8% to 7.7%. However, the claimant count - those out of work and receiving unemployment benefit - rose by 5,300 in September to 1.47 million. "These figures are slightly bet... more

Trade deficit declines to £4.6bn
The UK's trade deficit declined slightly in August after reaching a five-year high in July, according to the Office for National Statistics. The deficit in goods and services was £4.6bn last month, narrowing from £5bn the month before and the deficit on trade in goods declined from £8.7bn in July £8.2bn. Disappointingly, total exports fell by 2.1% in August after dipping just 1% in July.... more

Inflation unchanged at 3.1%
Inflation remained unchanged at 3.1% in September, according to the Office for National Statistics (ONS). Consumer Prices Index (CPI) has been at 3.1% since July. A drop in transport costs last month offset a record jump in clothing prices and higher food inflation. The Retail Prices Index declined slightly to 4.6% from 4.8% from the previous month. CPI inflation has now been above the Ba... more

UK economic growth slowing
Growth in the UK economy is slowing, according to surveys from the British Chambers of Commerce (BCC) and The British Retail Consortium (BRC). The BRC said retail sales growth slowed last month, with like-for-like sales up 0.5% from a year ago. This is half the 1% growth rate the monthly BRC survey reported for August and the organisation said consumer confidence is ‘fragile' "We've now ha... more

Sir Philip Green criticises gov spending
The government is not making full use of its buying power when dealing with suppliers, according to serial entrepreneur and Topshop owner Sir Philip Green. Sir Philip - who was asked by David Cameron to look at how effectively government departments spend their money - has reported that the government fails to make the most of its scale, buying-power and credit rating. "The conclusion of thi... more

Business confidence falters
Business confidence among companies in the UK has declined to its lowest level since the height of the recession, according to BDO's Business Trends optimism index. The index fell to 91.6 last month, from 93.1 in August as businesses worry about what effect the government's cuts will have on the country's economic recovery. "We are worried that it is already beginning to look as if the gover... more

Small firms not going green
The continuing effects of the recession mean small and medium-sized businesses are not investing in green improvements, according to research from Lloyds TSB Commercial. The survey revealed that 30 % have stalled the implementation of energy-efficient improvements because of the economic downturn. Many blamed the cost of green improvements for their lack of action, while around a quarter said ... more