Business News Articles

Number of firms going bust doubles in last quarter of 2008
The number of firms going bust in the last quarter of 2008 in the UK increased by 220% from the same period last year, according to figures released by the government's insolvency service. SMEs have suffered the most in the recession, with an increasing number of small firms ceasing trading. In the last three months of 2008 there were almost 2,5000 corporate insolvencies, and just under 30,0... more

Small business groups call on government to unblock credit
Business groups, including the Federation of Small Business (FSB) and the British Chamber of Commerce (BCC) have called on the government and the Bank of England to adopt new monetary policies and ensure that yesterday's interest rate cuts are passed on. "Interest rate cuts are yesterday's story and today's story is about access to money," said Stephen Alambritis of the FSB. Many small busin... more

Small business owners concerned over new health and safety laws
Small business owners believe that new health and safety regulations that have recently been implemented will pose the largest barrier to the growth of their business, according to a new survey. The Health and Safety Offences Act 2008 came into force on January the 16th and imposed tougher fines and prison sentences for the owners of companies found to be in breach of the Act. The survey by ... more

75% of small firms unaware of their printing costs
Only 25% of small businesses know how much money they are spending on printing, according to new research by Samsung Electronics. The research also found that despite SMEs not knowing their printing outlays over 80% stated that cost was the key factor when purchasing printers. "With companies looking to cut costs where they can right now it's amazing to see that print costs seem to have been... more

Bank of England cut interest rates to 1.0%
The Bank of England has cut interest rates from 1.5% to 1.0%, the fifth time since October that interest rates have been reduced In October 2008 the interest rate stood at 5% and the last rate cut in January brought the rate to 1.5% - the lowest in the Bank's 315-year history. Many business leaders, including the Federation of Small Businesses (FSB), had called for the rate to be maintained.... more

EU to examine rules regarding foreign employees
The European Union will examine rules that govern that free movement of EU workers, a ruling that could affect small business' employment policies. The European Commission has stated that it will, "study and develop any new measures necessary to face a changing world." The EU could implement new measures that would limit the number of cheap foreign staff that businesses can employ. Laws on t... more

Natwest and RBS make an extra £3bn available to small firms
Natwest and RBS is to make an additional £3bn worth of funding available to small and medium-sized firms in the UK. The money will be distributed through 12 regional Small Medium Enterprise regional funds, holding £250m each in England, Scotland, Wales and Northern Ireland. The extra cash is designed to provide business loans and overdrafts to SMEs and businesses can apply for the new fund... more

60% of small firms think interest rate should be held at 1.5%
Small firms do not want the Bank of England to make any further cuts to the interest rate, according to a survey of over 4,000 small businesses by the Federation of Small Businesses (FSB). The poll revealed that over 60% of small companies surveyed want the Bank of England to keep rates at 1.5%, and only a quarter think that the rate should be cut. "Small businesses are clearly worried that ... more

Half of small firm owners believe smartphones increase productivity
Small and medium-sized companies are increasingly using smartphones with mobile applications to increase their businesses' productivity, according to research from YouGov, commissioned by BlackBerry manufacturer Research In Motion (RIM). 46% of SME decision makers believe they can be more productive by using a smartphone, with 60% of young entrepreneurs claiming they save up to two hours pro... more

Aviva cut £1bn payout to policyholders
Aviva, the UK's biggest insurer, has backed out of a promise to give its 1m policyholders a £1bn payout, blaming the credit crisis and falling profits. The insurance company said in the summer that policyholders would receive an average of £1,000 each as part of a deal to free up surplus capital that has been built up over several decades. However, the company have said that in the current... more