Business News Articles

Small firms warned online fraud is rising
Small businesses have been warned that the number of recorded online fraud attempts reached a peak last month, according to HM Revenue & Customs (HMRC). HMRC received more than 15,000 reports of fraudulent repayment emails in the last year, in which con artists send out emails asking for financial details in order to issue a tax rebate. "We only ever contact customers who are due a refund in... more

Recession ‘will end within 3 months’
The UK recession will end within three months, according to a report issued by accountants BDO Stoy Hayward. The accountancy firm believe that the prompt fiscal stimulus package and bank recapitalisation scheme taken in the UK have helped the economy speed ahead in the race towards recovery. The BDO Output Index - which measures short-run turnover expectations and order book strength - rec... more

House prices will ‘recover slowly’
House prices in England will fall this year and will not start recovering until 2011, according to the National Housing Federation (NHF). The federation predicts that prices will fall 12.2% this year, 4.6% in 2010 and then stabilise in 2011 with a 1.1% rise. The NHF have also said that by 2014 house prices will be 20% higher than they are currently. "Our research shows that, while house pric... more

Decline eases for SME manufacturers
The rate of decline in orders and output for small and medium-sized manufacturers is slowing, according to data released by the CBI's (Confederation of British Industry) quarterly SEM Trends Survey. Of the 480 small and medium-sized businesses surveyed 51% reported a fall in orders in the three months to July and 17% saw a rise, leading to a balance of -34%. This figure is a marked improveme... more

Bank loan costs rise for small retailers
Over a third of small and medium-sized retailers have seen lending costs rise despite the historically low base rate, according to data released by the British Retail Commission (BRC). Of the small and medium-sized firm that reported a rise in the cost of lending more than 65% commented that it had undermined their ability to trade. "The poor availability of bank credit is undermining stock ... more

Sarah Beeny launches new business
Entrepreneur and television presenter Sarah Beeny has launched a new business, Tepilo, which aims to revolutionise the housing market. Sarah Beeny explained the concept to new users, writing on her site: "Tepilo is a place where you can buy and sell your home and take control of the process yourself. What's more we won't charge you a penny for doing it. "Tepilo will guide you through the pro... more

Entrepreneur offers IT savings
Small businesses owners can take advantage of an offer to receive IT and phone systems worth £10,000 for £6-a-month. Entrepreneur Piers Linney - who started his first company aged 14 - is offering the service through his IT firm Outsourcery to help companies in the recession. "The cost savings can be used by them [businesses] to thrive in these difficult conditions," said Mr Linney. ... more

48-hour rail strike commences
Thousands of rail passengers face disruption over the next 48-hours as workers at National Express East Anglia strike over pay and conditions. The action will affect trains to Cambridgeshire, Norfolk, Suffolk and Essex and routes into London and Stansted airport. Andrew Chivers, managing director of National Express East Anglia, has called the unions' demands of a 2.5% pay rise and a four-da... more

Firms pay off bank debt at record level
UK companies have paid off more bank loans this year than they have taken out for the first time since records began, according to data released by the Bank of England. Businesses are also paying back their bank loans at a record rate, with £3.6bn paid back by non-financial firms in June alone. "The fact that firms are paying off debt is an indication that they are less able to find finance... more

Now ‘great time to start a business’
Potential entrepreneurs should not be out off starting their own business because of the recession, according to the Institute of Chartered Accounts (ICAEW). The ICAEW believe that this is a great time to start a new company as the high numbers of firms falling into administration has resulted in decreased competition and office and retail space are available at the lowest rates for many years.... more