Business News Articles

Equality bill could push small firm owners 'over the edge'
The government's new Equality Bill could push small business owners ‘over the edge' according to the Confederation of British Industry and the British Chamber of Commerce. The legislation aims to promote fairness, equality of opportunity and to tackle discrimination. However, with many small firms having to let staff go in the current economic climate there are fears that the legislation may ... more

Business confidence rises 17 points
Confidence among business professionals has risen for the first time since the end of last year, according to The Institute of Chartered Accountants' index of business confidence. The business index rose by over 17 points to reach -28.2 at the end of March, up from -45.3 at the end of the previous quarter. "While the change in outlook is encouraging, I still believe that difficult times lie ... more

Bank lending to small firms increases £271m
Small business activity is showing signs of recovery as high street lending to small companies rose by £271m from February to March, according to figures released by the British Bankers' Association (BBA). The BBA also revealed that deposits from small companies increased by £881m. These figures contrast positively to figures from the downturn of 1990 and 1991 where start-up activity decrease... more

CBI call for pension reform to help businesses
Sweeping changes need to be made to the framework used for regulating pensions to ease the burden on businesses, according to the Confederation of British Industry (CBI). In its eight-point plan the CBI have called on the government to automatically allow firms 15 rather than 10 years to repay deficits and demanded greater clarity over how much money a company owes its pension scheme. "We ne... more

Small firm owners warned against using mandatory retirement
Small business owners have been warned that forcing workers who are over 65 into mandatory retirement could harm their company. Recent research by Age Concern and Help the Aged has found that around 15% of employers plan to use mandatory retirement policies to cut their workforces. "It's economically unwise for employers to force people who want to work out of a job just because of their age... more

Car production declines 55%
Car production in the UK fell by 55% in April compared to a year ago, according to figures released by the Society of Motor Manufacturers and Traders (SMMT). The car industry are hoping that the government's new car scrappage scheme, which became operational at the start of the week, will help to reverse the decline in sales. Under the scheme motorists that scrap cars registered before Augus... more

90% of small firms say government action is failing
Nine out of ten small and medium-sized companies believe that the government is failing to help their business, according to a survey of more than 2,000 entrepreneurs and business owners by cmypitch.com. Access to cashflow was the most commonly cited issue by SME owners in which they require government help. In this area 77% of respondents called for more funding, 39% for help with Employers' t... more

Small firms 'should not reply' to new HMRC texts
The HMRC's new contact system has been criticised as leaving small business owners open to potential fraud. Two weeks after warnings were issued regarding identity thieves scamming taxpayers by claiming to be from the HMRC, the Revenue has announced that it now plans to contact taxpayers via text and automated voice messages. "We are urging individuals and businesses not to respond to any of... more

Men twice as likely to start their own business as women
Women are only half as likely to start their own business as men, according to new research by the Women's Enterprise Task Force (WETF). The research also found that by the time new businesses have been established for two years and set on a growth path, just 13% of companies are owned by female entrepreneurs. Despite the relative lack of female owned firms, businesses run by women contribut... more

CBI president accuses government of ‘economic vandalism'
Martin Broughton, the chairman of British Airways and the outgoing president of the Confederation of British Industry (CBI), has accused the government of ‘economic vandalism' over the new 50p income tax rate on those earning more than £150,000 a year. Mr Broughton commented that the government was using the new income tax rate, introduced in last month's Budget, as a means of diverting atte... more