Business News Articles

Capital allowance extension would ‘benefit small firms’
Capital allowances for small and medium-sized firms should be extended, according to the Finance & Leasing Association (FLA). The FLA have called on the government to increase the scope of its Enhanced Capital Allowances Scheme, so that small firms can offset more business equipment spending against their taxable profits. The scheme allows up to £50,000 to be offset, but the FLA want this c... more

Bank of England holds interest rates at 0.5%
The Bank of England has held interest rates at 0.5% following a succession of cuts in recent months. Since October last year the Bank has cut the rate six times, bringing it down from 5% to the current record low. The Bank have tried to boost the flagging economy by cutting rates, but the measures have been met with criticism from small firms who have not seen the cuts passed on in full by high... more

Only 17% of workers plan to apply for flexible working
Over 60% of eligible workers do not intend to make a flexible working request, according to new research commissioned by employment consultant Croner and carried out by YouGov. On April 6th new legislation was implemented that allowed all workers with children under the age of 16 - around 4.5m in the UK - to apply for flexible working. The survey found that 22% are unsure whether they would... more

Staff spend ‘25% of working day' on internet for personal reasons
Employees spend around a quarter of their working day using the internet for personal reasons, according to research by law firm Penunsula. The survey of more than 2,400 people by the law firm found that workers admitted to spending an average of two hours a day using the internet for non-work related reasons and 91% have sent personal emails. More than 65% of bosses have been forced to disc... more

PPF propose higher contributions in good economic times
Employers will have to pay more into the Pension Protection Fund (PPF) during good economic times to offset lower payments in a recession, if new changes to the scheme currently being examined by the PPF board are implemented. "There is a thought that we should be much more counter-cyclical then we are now," said new chief executive Alan Rubenstein to the Financial Times. At the moment the P... more

Costs rise for eight out of ten small firms in rural areas
Over 80% of small rural businesses have seen their costs rise and half have experienced a decrease in trading, according to a poll by the Federation of Small businesses (FSB). The survey of over 300 small firms in rural communities also revealed that the closure of one small firm can have a large impact on the local area. Over 40% of the businesses surveyed depend on one or more sole food shop,... more

40% of firms say Train to Gain had ‘no impact’ on their business
Business in the UK are unimpressed with the government's free training programme Train to Gain, according to a survey by the Confederation of British Industry (CBI). The CBI found that two-fifths (42%) of employers using the programme say it has delivered ‘no impact' for their business, and three-quarters rated its training brokerage service as ‘poor' or at best ‘mixed'. "The governmen... more

UK car companies receive £500m European loan
The British motoring industry has received a boost with news that The European Investment Bank (EIB) has approved over £500m of loans to Jaguar Land Rover and Nissan. The EIB has approved a £340m package for Jaguar Land Rover and £370m for Nissan - to be split equally between its plants in Sunderland and Spain. The funding is the first money provided to any carmaker in the UK since the fi... more

Over half of UK businesses not cutting advertising spend
Over half of businesses are not cutting their advertising budgets, despite the current recession, according to a report by the Institute of Practitioners in Advertising (IPA). According to the IPA report 55% of firms are not reducing their advertising budgets, up from 51% in the previous quarter. Confidence among advertisers also increased this quarter, with 15% of companies reporting that t... more

Over a third of UK companies cut staff and freeze wages
Over half of businesses are not cutting their advertising budgets, despite the current recession, according to a report by the Institute of Practitioners in Advertising (IPA). According to the IPA report 55% of firms are not reducing their advertising budgets, up from 51% in the previous quarter. Confidence among advertisers also increases this quarter, with 15% of companies reporting that t... more