Business News Articles

Bank cuts interest rates to 2%
The Bank of England has cut interest rates to 2%; the lowest level since 1951. ... more

Local councils given power to increase business rate from 2010
The government has announced via the Queen's speech that from 2010 councils will be allowed to charge an extra 2p on the national business rate to promote economic development in their area. The government's Lyons report recommended the action, saying that it would be a ‘vital tool for councils to promote long-term economic growth, working with local business and the local community'. With... more

New employment laws announced in Queen’s speech
The Queen's speech unveiled measurers that directly impact on the employment policies of small firms, such as the extension of flexible working and a new equality bill. The equality bill merges several pieces of anti-discrimination legislation into one statue and promotes ‘positive action.' This means that employers can legally choose between two equally suitable candidates due to race or ... more

Record fall in number of job vacancies
The number of jobs advertised declined at a record level in November, according to figures from Markit Economics. ... more

Lloyds unveil six-point initiative to help small businesses
Lloyds TSB has announced a six-point charter of measures designed to help small companies through the recession. The bank has promised its 600,000 small business customers that it will pass on in full any further rate cuts in 2008 and 2009, to host 120 seminars to provide expert guidance and to agree to any reasonable request for short-term financing. Lloyds have also promised to not change ... more

Internet shopping hits record high of £300m in one day
Online shopping hit record levels on Monday the 1st of December, as industry analysts estimated that £4.6m online shopping transactions were made. Customers spent around £300m online on Monday, with the average transaction coming in at just under £65. Retail Decisions have predicted that the busiest minute for internet shopping will be 1.21pm on December 8th - with over £980,000 being sp... more

Flexible working expansion could harm small firms
An extra 4.5m UK workers will be able to request flexible working under government plans announced in the Queen's speech. It had been thought that plans to extend flexible working rights from parents of under 6's to those who have children who are under 16 would be postponed given the current economic climate. It has been estimated that the move could cost the UK businesses an extra £69m a ... more

Over half of small firms have experienced data loss
Small to medium sized businesses rank electronic backup as one of the most important computing priorities, but over 50% of these companies have experienced data loss, according to research by computer software company Symantec. The research also reveals that of those companies that suffered data loss, over 30% missed sales because of it, 20% experienced a decline in sales and 40% said the incid... more

Takeaways top list of booming businesses
Takeaways and coffee shops are among the businesses that are prospering in the current economic climate, according to research into the spending habits of 20m Barclays customers. ... more

Small businesses take advantage of tax relief
Small firms are taking advantage of the Chancellor's ‘time to pay' offer - set out in the pre-Budget report - to pay tax bills later. Less than a week after the announcement over 2,200 small companies have applied to HM Revenues and Customs (HMRC) to request extended time in their tax payments. HMRC are willing to give companies several months to complete tax payments and take into account... more