Business News Articles

Jobs market will 'bounce back’
Despite recently released official data showing that unemployment has risen more steeply than in the recession of the 1990s Britain's jobs market is likely to bounce back sharply, according to the Institute for Employment Studies (IES). Figures from the Office of National Statistics recently revealed that the jobless rate has risen 1.3% to 7.1% - more than the 0.9% rate rise in the first three ... more

Eleven more firms sign up to prompt payment scheme
Eleven more companies have signed up to the government's prompt payment scheme, in which businesses promise to pay their suppliers within ten working days. The issue of late payment is an important one for small firms, with many companies paying increasingly late due to the recession. "Government has taken the lead with nine out of ten central government invoices now being paid within ten da... more

60% of employees saving money by working from home
Six out of ten employees say that they are financially better off because they have the flexibility to work from home, according to research by BT Business. Nearly half of respondents believe they save between £10 to £20 per day on travel by working from home, with additional savings coming from not having to buy lunch. "Anything employers can do to help their staff save money in the curre... more

Mortgage approvals increase by a third in March
Home buyer mortgages increased by almost a third in March, according to figures released by the Council of Mortgage Lenders (CML). 31,000 mortgages were completed in March - up 29% from February's 24,000 - and first-time buyers accounted for 40% of all loans in March, the highest percentage in four years. However, the actual number of first-time buyers is at the lowest point since the CML be... more

Airlines to make websites more transparent after EU pressure
More than 50 airlines, including budget carriers Ryanair and EasyJet, have announced that their websites will be improved to make bookings easier and more transparent following pressure from the European Union. The EU had threatened to name and shame airlines that did not reform their sites following concerns over the use of pre-ticked boxes - which unless consumers spot and un-select - can lea... more

Declining customer demand biggest problem for small firms
Falling customer demand is the biggest problem that small businesses faced in the first quarter of 2009, according to a survey conducted by the Open University Business School and the Association of Chartered Certified Accounts (ACCA). Just under 65% of small companies surveyed reported that falling demand is the biggest issue that they face followed by 25% who sited access to finance and 14% w... more

HSBC offers new technology firms business support
HSBC Bank is the first UK bank to join the Microsoft BizSpark Programme, which offers start up technology companies access to the computer giant's support network. HSBC will offer its estimated 17,000 technology start-up business banking customers access to the programme, which provides technology start-ups with mentoring, guidance and resources. The offer is available to businesses under th... more

New smart utility meters will ‘benefit small firms’
Small companies will benefit from greater control of their energy usage following the government's plan to introduce smart meters, according to the British Chambers of Commerce (BCC). The Department of Energy and Climate Change has revealed that the new system will be rolled out across the UK by 2020. This will lead to an end of estimated bills, allow easier payments and permit quicker switchin... more

UK unemployment rises to 2.2m
The number of people out of work in the UK rose just under 250,000 to reach 2.2m in the first quarter of 2009, according to figures released by the Office for National Statistics. The country's jobless rate also increased, jumping from 6.7% to 7.1% and the number of people claiming unemployment benefits in April rose 57,000 to 1.5m. Average earnings, including bonuses, were 0.4% lower in the... more

60% of small firms in London looking to expand in recession
Around 60% of small and medium-sized firms in London are concentrating on expanding their businesses during the recession, according to a poll by Business Link in London. The survey of more than 3,000 small businesses in the capital found that despite three-quarters being affected by the economic downturn the majority of small firms do not want to just consolidate their firm, but actually expan... more