Business News Articles

Bank of England warn that ‘UK economy will shrink by 4%’
The Bank of England has predicted that the UK economy will contract by 4% from the middle of 2008 until mid-2009. The Bank's governor, Mervyn King, has stated that the UK is facing a deep recession in 2009 and that rate cuts alone may not be enough to stimulate the economy. Mr King stated that the length and depth of the recession in the UK is dependent on what happens in the world economy, ... more

UK unemployment rises to 10-year high of 1.97m
UK unemployment rose to 1.97m between October and December last year according to official figures from the Office for National Statistics. This figure is less than the 2m that many analysts predicted, but this watershed mark is expected to be broken when the next official figures are released. The unemployment rate increased to 6.3% - the highest figure since 1997. Unemployment in the UK is... more

Angels Den to run entrepreneurial workshop in London
An interactive workshop, run by the Angels Den team is being held in London on the 25th of February. The event will provide entrepreneurs and those wishing to start their own business with an invaluable insight into what business angels look for before investing in a company. "This is a fabulous opportunity to hear from those who have been there and to learn from their experiences. This is a... more

Venture capitalists invest £1bn in UK technology companies
Venture capital investment in UK and Irish technology companies last year reached the highest levels since 2001, according to research by Ascendant. In a break from the economic downturn IT technology firms are currently enjoying the most investment since the dotcom boom of the early 20th Century. Ascendent, an advisor to small companies seeking to raise money has calculated that over £1bn ... more

80% of UK firms not cutting back on overseas business travel
Four out of five UK businesses are still planning to spend money on travel, despite the current economic crisis, according to research by the Institute of Travel Management (ITM). The ITM survey found that only 20% of firms are planning to implement a total ban on staff traveling abroad and that 53% are positive about the future of the business travel industry. "Our clients are still traveli... more

Company start-ups at lowest level for 35 years
The number of new companies being set up has fallen to its lowest level in 35-years, according to research conducted by accountancy firm Wilkins Kennedy. Last year in the UK 372,400 new companies were set up - 17% fewer than in 2007. Although the current recession is partly responsible for the lack of new companies the government has also been blamed for the decline in new companies. In the ... more

Demand for office space falls at fastest rate on record
Demand for business office space has fallen at the fastest level on record, according to research conducted by the Royal Institution of Chartered Surveyors (RICS). More than 70% of RICS members reported a fall in demand in the last quarter of 2008, compared to the previous quarter when just over 50% saw a decline in demand. Small business owners whose lease is set to expire are being advised... more

Small businesses need ‘more government support’
Small firms do not feel that government measures have succeeded in helping their businesses, according to a survey by The Federation of Small Businesses (FSB). The survey of over 4,000 SME owners revealed that recent state intervention, such as the reduction in VAT, bank lending guarantees and a pledge to reduce the amount of time government organisations pay their invoices has had little impac... more

New apprenticeship bill to provide compulsory training for young staff
A new government bill would provide small business employees with increased access to training programmes. The apprenticeships, skills, children and learning bill will give all suitably qualified young people a legal right to on-the-job development. If the bill becomes law it would be the biggest change to apprenticeship legislation in modern times. "This new bill will put in place new ri... more

Government report backs new personal accounts pension scheme
A government report has backed a new national pension system that is designed to encourage employees to save. The personal accounts system, to be launched in 2012, will top up payments from the basic state pension and will use automatic enrolment to persuade millions of workers to save. The government have released a report, which has claimed that almost everyone will benefit from entering t... more