Business News Articles

Lord Sugar joins new business taskforce
Lord Sugar is to sit on a new small business finance taskforce, the governent has announced. The star of The Apprentice will be part of a new government advisory board that will look into how to ensure small businesses are treated fairly when accessing bank finance. The board's main task - which will also feature outgoing FSB chairman John Wright and former Lloyd's TSB deputy chief executive... more

Ofgem: mobile phone costs must fall
Small business owners could see cheaper mobile phone bills from 2011 after a ruling by telecoms regulator Ofcom. The regulator has ruled that by next year customers should be able to change mobile providers in one working day rather than two. Ofcom also announced that the cost mobile phone firms can charge for connecting a call from another network or landline will decline from 4.3 pence per... more

Manufacturing output hits 16-year high
Manufacturing output increased to its highest level since October 1994, according to the latest CIPS/Markit Purchasing Managers' Index (PMI). The headline Manufacturing PMI - calculated from data on new orders, production, employment, supplier performance and stocks of purchases - rose to 57.2 in March, the highest level since 1994. Output rose for the tenth month in succession in March, exp... more

Scrappage scheme sells 330,000 cars
Over 330,000 cars have been sold under the government's car scrappage scheme, according to government figures. The scrappage scheme - which gives consumers £2,000 off a new car if they trade in a car that is at least ten years old - has now come to an end. The scheme accounted for a fifth of cars sold after its introduction. The figure of 330,000 could still rise as cars bought under the sc... more

Economic growth revised upwards to 0.4%
The UK economy came out of the recession at a faster pace than previously thought in the fourth quarter of last year, according to the Office for National Statistics (ONS). Data from the ONS revealed that the economy grew by 0.4% in the last three months of 2009, above the original estimate of 0.3%. This was the first quarter of growth since the start of 2008. The ONS said that the upward re... more

Entrepreneurs invest £16bn of own money
Entrepreneurs in the UK have invested £16bn of their personal savings into their companies to keep them operating during the recession, according to new figures released by specialist insurer Hiscox. The data reveals that 20% of small business bosses invested, on average, £17,000 of their own savings while more than a third cut their own salary to increase their firm's cashflow. Having sur... more

Post Office unveil new financial services
The Post Office will offer a new range of business measures such as 90% loans for first-time property buyers, a current account service and a budgeting account for those on low incomes. The new range of products will be offered at the Post Office's 11,500 branches in the UK. However, the current account will only be introduced once the market has stabilised. "The Post Office is a well-loved ... more

Search for entrepreneur of the year
Small business owners have been encouraged to enter the Entrepreneur of the Year Award 2010 and win £50,000 of prize money. The award - launched by the British Chambers of Commerce and sponsored by Staples - rewards and recognises entrepreneurial success across the UK. "We want to hear from people who have set up dynamic businesses by overcoming hurdles, finding innovative ways to navigate ... more

Mortgage approvals fall again
The number of mortgage approvals declined in February as the UK housing market continued its slow start to the year, according to figures released by the Bank of England. The number of mortgages approved for house purchases dipped by just over 1,000 to 47,094. This is the third consecutive month that mortgage approvals have fallen. Labour last week announced in the Budget a temporary exempti... more

Tories: we would scrap NI rise
Planned increases in National Insurance contributions would not take place if the Conservatives win the general election, the party will announce today. Shadow chancellor George Osborne is expected to announce that the Tories would scrap the recent 1% NI rise that Alistair Darling announced in last week's Budget. The Tories claim that by scrapping the increase in NI tens of thousands of jobs... more