Business News Articles

Business failures decline 3%
The number of businesses going bankrupt declined 3% in April compared to March, according to figures released by Equifax. Regionally the North East performed best, closely followed by London and the East Midlands. Yorkshire and Humberside, the East of England and Wales were the only regions to see an increase in the number of businesses going bust. In terms of sector performance, the constru... more

Construction activity increases
Activity in the construction sector expanded for the second month in succession, according to data released by the Chartered Institute of Purchasing and Supply (CIPS) and Markit purchasing managers' index. The index showed a sharp jump to 58.2 in April from 53.1 the previous month, well above the 50 level that separates growth from contraction. The expansion was supported by a further rise i... more

UK needs a 'regeneration Minister’
The next government should appoint a new Minister in charge of business regeneration, according to data released by RSM Tenon. The survey of potential MPs showed that more than 50% think the new cabinet position should be introduced in addition to roles for business, trade and industry to help companies struggling with the lingering effects of recession. "It is imperative that whoever forms ... more

Recession causes rise in self-employment
Almost 25% of all self-employed workers have been their own boss for less than two years, according to research carried out on behalf of Kensington. As there are five million self-employed workers in the UK, this means that 1.2 million people have started working for themselves since March 2008, during which period the UK economy entered recession. Only 6% of self-employed workers became sel... more

Staff pay declines
Businesses in the UK are reducing salary offers for new employees, according to data released by recruitment site Reed.co.uk. Average salaries offered in April were 4% lower than in February, according to the job site. "While employer demand for new workers has stayed steady this month, salaries are showing a downward trend, even in areas where demand for staff seems particularly buoyant," s... more

Consumers embrace online sales
Small business owners have been reminded of the importance of the internet with news that 49% of consumers now regularly buy from internet-only firms, according to data released by 1&1 Internet Ltd. The company's eBusiness audit found that consumers in 2010 are not only comfortable interacting with businesses online but a great many now prioritise this method. The majority of shoppers now see l... more

Manufacturing conditions ‘improving'
Small and medium-sized businesses in the UK are reporting improving conditions in demand and production of goods, according to data released by the Confederation of British Industry (CBI). Quarterly figures produced by the CBI showed that 36% of manufacturing firms said they had experienced an increase in orders for their products in the first three months of 2010. Although 26% of the compan... more

House price inflation hits 10.5%
The annual rate of house price inflation in the UK has reached double figures for the first time since June 2007, according to data released by the Nationwide. The building society said that house prices in the UK have risen by 10.5% in the year to the end of April. The average price of a home is now £167,802. However, the Nationwide predicted that the past year's surge in prices will ease ... more

SMEs look for alternative funding
Less than one in five small businesses approach banks when looking for new credit, according to data released by the Federation of Small Businesses (FSB). The survey of over 1,400 FSB members showed that only 18% of businesses have applied for new credit from banks, with half of these successful in their application. For businesses with existing finance, the survey revealed that 16% had seen... more

Small firms have liabilities of £55bn
A rise in interest rates this year could send thousands of small businesses into bankruptcy, according to insolvency expert Begbies Traynor. In its first quarter update Begbies reported that small firms in the UK had £55bn of liabilities on their books. The debts - typically owed to suppliers and service providers - would become difficult to maintain if the Bank of England's rate rose by 1%... more