Business News Articles

Rate of pay falls at quickest level for a decade
Demand for staff is continuing to fall, and the rate of decline in pay is the fastest pace in over ten years, according to survey by consultants KPMG and the Recruitment and Employment Confederation (REC). Job opportunities last month reached their lowest levels since the survey began in 2007, and the rate of pay for temporary workers and those starting new jobs has plummeted. "These figures... more

Only 4% of small business owners predict closure in 2009
Small businesses in the UK are feeling positively about 2009, with only 4% of SMEs forecasting that their business will close, according to research by Close Brothers plc. The survey of over 500 small business owners revealed that 45% thought that their firm would stay the same size in 2009, and only 4% thought that their business would close. Regarding employment patterns, 67% expect to kee... more

Third phase of London’s Low Emission initiative suspended to help UK businesses
The third phase of London's Low Emission Zone initiative will be put on hold because of the financial costs involved to UK firms to ensure that all their vehicles were compliant with the new requirements. Many small businesses in London use company vehicles, which may have required modifications to meet the new criteria. Major Boris Johnston made the announcement today, in which he confirmed... more

Record number of self assessment tax returns completed online
A record 5.8m taxpayers completed their self-assessment returns online - meaning that almost two-thirds of those in the self-assessment bracket now use this method. HM Revenue & Customs (HMRC) has reported that the number of taxpayers usinf the online facility has increased by 53% from last year. "I am delighted that more and more people are recognising the benefits of filing their tax retu... more

New board members appointed to Association of British Insurers
The Association of British Insurers (ABI) has announced the latest additions to their board of directors. Brit Insurance chief executive Dane Douetil and Friends Provident chief Trevor Matthews has been appointed to the board. "Dane and Trevor bring a wealth of experience and a great enthusiasm for delivering real improvements to customers," said ABI chairman Archie Kane. The ABI represen... more

Business rate rise to be largest in over 15 years
Small business groups have criticised the forthcoming increase in business rates of 5% - the largest rise since the present system was formed in 1993. At a time when many small firms are struggling in the current recession it is argues that the extra cost could prove to be too much for some firm companies. "If the government is serious about helping firms survive the worst downturn in a gene... more

Disruption caused by snow could cost UK economy ‘£1bn’
The heavy snowfall experienced across much of Britain could cost the UK economy around £1bn, as around 20% of the country's workforce has been unable to make it into their job today. The Federation of Small Businesses (FSB) has stated that the £1bn projection is a cautious estimate, and the actual cost is likely to be higher. "There is also the knock-on effect of passing trade going down a... more

40% of small manufacturing companies cutting staff
Small and medium-sized manufacturing firms are cutting staff at the quickest rate since the early 1990s, according to new research released by the Confederation of British Industry (CBI). Of the 492 small firms surveyed by the CBI in this sector just under 40% axed jobs in the final quarter of 2008 and many believe the first quarter of 2009 will be even more difficult for their company. Only... more

LGA issue ten-point plan to help small firms
The Local Government Association (LGA) has called for a radical overhaul of tax breaks for small businesses and for an end to red tape, to help small firms survive the recession. The LGA have issued a 10-point plan that includes a proposal to allow small firms to automatically receive rate relief owed to them and to cut red tape so developers are not forced to reapply for planning permission if... more

90% of Equitable Life insurance customers may miss out on compensation
Government ministers have been accused of mishandling the Equitable Life case, in which over a million policyholders are still waiting for compensation. Judge Sir John Chadwick is now reviewing the case, but it is unclear how long the review will take and if any policyholders will receive any money back. Paul Braithwaite, general secretary of the Equitable Members Action commented that aroun... more