Business News Articles

House sales increase for second month in succession
The number of houses sold in the UK increased for the second month in a row in October, according to figures from the National Association of Estate Agents (NAEA). The study showed that agencies sold an average of seven properties a month in October, compared to six the month before. ... more

Bank of England hints at further rate cuts
The Bank of England has delivered its clearest hint yet that interest rates will continue to fall over the coming months. The minutes of the meeting of the recent Monetary Policy Committee revealed that the bank had considered an even bigger cut than the recent 1.5% drop, but opted against it for fear of sparking panic and a run on the pound. ... more

New car prices slashed by £2,000
Car dealers are cutting nearly £2,000 off the value of new cars, according to a survey by What Car? Magazine. With car sales falling at the fastest rate for almost twenty years this may be a good time for small firms to pick up a discounted company car. The survey found that the average discount on a new car is £1,932 - around £250 more than at the start of the year. UK car sales fell ... more

New £25m fund for female entrepreneurs launched
The business minister, Baroness Shriti Vadera has launched a fund designed to encourage women entrepreneurs at the Everywoman conference in London. The Aspire fund will be backed by £25m provided equally by the government and private sector investment. In order to avoid discrimination laws being breached the Department for Business will allow male owned companies to apply for funding of bet... more

'Up to 60,000’ UK businesses at risk of going bust in 2009
Nearly 60,000 British businesses could go bust next year, with a raft of insolvencies particularly affecting small and medium sized businesses, according to recruitment firm Begbies Traynor. Around 20,000 job losses were announced last week by firms including BT, Virgin media and bank RBS. Begbiw Taylor’s latest insolvency monitor reveals that over 57,000 firms are experiencing significant... more

Credit insurance withdrawn for 12,000 UK firms
Over 12,000 UK businesses, the majority of which are small and medium sized, have seen their insurance cover withdrawn as the credit crunch affects the country's supply lines. Atradius, the UK's largest credit insurer has confirmed that it is retracting its insurance offered to the suppliers of these companies against non-payment on bills for goods and credit. Without credit insurance suppli... more

Rail passengers face disruption over Christmas
Large parts of the UK rail network will close over the Christmas period, causing delays and diversions for business and customer travellers. Some London train and tube lines, such as the Jubilee line, will be shut for eleven days as planned improvement works are carried out. "The work has to be done but there is never a good time to close the railways," commented a spokesman for Virgin Train... more

Number of small firms marketing via social networking sites doubles
The number of small businesses using social networking sites as a marketing device has doubled in the last six months, according to a BT Tradespace survey. The research found that 15% of companies are now promoting themselves on social networking sites, compared to just 7% at the start of the year. There is a clear regional split across the country, with London topped the league table, with ... more

Call to boost small firm loans
The government should make it a priority to ensure banks lend to small firms to prevent a wave of healthy companies going out of business, the Liberal Democrats have said. The party’s leader Nick Clegg has called on the government to lend directly to small firms through the Post Office, local authorities and should even consider creating a new bank specifically for this purpose. ... more

Women entrepreneurs ‘better placed to survive recession’
Female entrepreneurs are faring better in the current economic climate than their male counterparts, according to a survey by Delta Economics. The survey of over 1,500 founders of businesses between two and ten years old found that only 50% of women entrepreneurs are concerned about financing for their companies, compared to 75% of men. This is likely to be because women entrepreneurs are mo... more