Business News Articles

Small firms view internet as critical tool during recession
Small and medium-sized businesses would cut investment in IT hardware, software and support before they would reduce the quality of their internet connection, according to a survey by Easynet connect. If forced to cut costs due to the recession 62% of the SMEs surveyed said that they would cut investment in IT hardware, 35% would reduce IT support and 28% would reduce expenditure on software li... more

Post Office to sell insurance to small businesses
Small business owners now have the option to insure their business through the Post Office, follwing the annoucement that the Post Office has announced that it has signed a five-year agreement with Fortis Insurance UK and independent insurance broker Heath Lambert. Initially the new SME offering, which will include shops, offices, people working from home and property owners will be available t... more

Ofcom orders mobile phone companies to cut charges
British mobile phone companies will have to cut the rates that they charge each other for connecting calls to rival networks by up to 21%, according to the watchdog Ofcom. Setting price controls for the next two years Ofcom said that Vodafone and O2 must cut their average mobile rates to 4.7 pence per minute - a cut of over 8%. T-Mobile and Orange will have to cut their rates to 4.8 pence per m... more

New service offers small firms free insurance health check
Aon have launched a new service for small and medium-sized businesses that offers free advice and assessments to ensure that their insurance is sufficient in the current economic climate. The health check is available to all small companies with a turnover of between £2m to £20m and will include an insurance audit, a written report of its findings and recommendations on how firms can identify... more

New reports reveal UK businesses are gaining confidence
New reports by the Confederation of British Industry (CBI) and BDO Stoy Hayward have indicated that business confidence in the UK is improving. The CBI Access to Finance Survey found that firms are less negative about the availability of new and existing credit than in the previous three months. Regarding new credit, the net percentage of firms saying availability had deteriorated in the pas... more

UK car sales decline 30% in March
UK car sales declined by 30.5% in March compared to the corresponding month, according to figures released by the Society of Motor Manufacturers and Traders (SMMT). The amount of new registrations in March stood at 313,912, down from 4511642 the year before. These figures are extremely low - in the decade since the switch to the twice-yearly plate change March has typically accounted for almost... more

Bank lending to small businesses increases £211m
Bank lending to small businesses increased in February, according to figures released by the British Bankers Association (BBA). The BBA statistics show that high street banks' lending to SMEs increased by £211m in February compared to the previous months figures. "Lending to the 3.8m small businesses supported by the main high street banks rose again in February and significant numbers of n... more

Small business owners motivated by being their own boss
Small business owners are personally motivated to start their firms due to a desire to be their own boss, according to a poll by Premierline Direct. The survey found that 49% started their own company so they wouldn't have to answer to someone above them at work and 48% established their company so they would have more independence. When questioned about the biggest difficulties faced in run... more

Government launch new support service for businesses
The government has launched Solutions for Business, a new free business advice and support service for companies in the UK. The new service, launched on the 1st of April, offers free and impartial advice to firms to help them improve and grow their business and will also attempt to simplify access to information for employers. "Through using the service, businesses of all sizes can receive f... more

Almost £600,000 available to young entrepreneurs in the North East
Just under £600,0000 has been made available to extend a business and enterprise project which encourages young entrepreneurs in the North East of England to create their own businesses. "Our main objective is to help young people develop an entrepreneurial culture and raise aspirations for self employment," said David Beavis, the Prince's Trust North East regional director. "We are achievi... more