Business News Articles

Borrowing for April hits record £10bn
Public borrowing rose to £10bn in April, a record for the month, according to data released by the Office for National Statistics (ONS). The figure - up from last year's £8.8bn - has underlined the size of the task facing the new government and Chancellor George Osborne. The ONS figures also revealed that the amount borrowed by the government last year had been revised down from £163bn to... more

Gov plan part-privatisation of Royal Mail
The new coalition government are seeking a partial privatisation of Royal Mail. The Conservative and Liberal Democrat government have confirmed that they are looking for an injection of private capital in Royal Mail, but have not revealed what stake of the business will be up for sale. Post offices will be allowed to offer a wider range of services and ideas including a Post Office bank - wh... more

Osborne: I will reform business tax
The new chancellor George Osborne has told the Confederation of British Industry that the government is committed to lower and simpler corporate tax rates. In his first major speech as Chancellor Mr Osborne said that he would use an emergency Budget on June 22 to kick-start a five-year plan to overhaul the corporation tax regime. "We will reform the corporate tax system by simplifying relief... more

New SME telephony product launched
Small business owners should be aware that ComnmuniGate Systems have launched VoicePlus, a professional quality High Definition IP telephony solution designed specifically for the small office. The product is designed for small businesses that do not have a large IT staff or budget and VoicePlus is easy to manage and operate. Recognising that rising numbers of small firms are turning to Appl... more

Downturn leads to rise in self-employed
The economic downturn has created a new generation of home-grown entrepreneurs, according to a survey by Kelly Global Workforce Index. The survey revealed that more than one-in-five respondents described themselves as 'self-employed' and among the rest, almost half expressed a desire to work more independently. The survey also found that 20% of respondents have been bitten by the entrepreneu... more

BA strike: union to appeal court ruling
The Unite union is planning to appeal against the High Court’s ruling that declared the planned British Airways cabin crew strikes are illegal. Unite plan to be at the Appeal Court on Tuesday and a successful appeal could see strikes go ahead later in the month, but if this fails Unite says it will ballot members again on industrial action. It would be the third ballot since November last ... more

Inflation rises to 3.7%
UK inflation in April has reached its highest rate in 17 months, according to the Office for National Statistics. Consumer Price Index (CPI) inflation - the measure of the average price of consumer goods and services purchased by households – reached 3.7%. The Retail Price Index (RPI) measure, which includes housing costs, also increased to 5.3% from 4.4% recorded last month. Bank of En... more

Insolvencies decline 15%
The number of business insolvencies declined 15% during April compared to the same month last year, according to data released by Experian. Companies with 11-25 employees saw the greatest improvement year-on-year in the insolvency rate and the smallest businesses (with 1 to 2 employees) saw the most improvement in their financial strength scores. "Our analysis shows that it continues to be v... more

Emergency Budget to be held June 22
It has been announced that the new coalition government will hold its first Budget on June 22nd. As part of their coalition deal, the two parties agreed to make £6bn in spending cuts in the current year as they attempt to tackle the record budget deficit. Chancellor George Osborne has already announced an audit of all government spending over the past year in an attempt to see where money c... more

Stress rising for small firm bosses
Despite the economy slowly starting to grow small business bosses are coming under increasing pressure, according to a survey by Grant Thornton. Just over 40% of small firm owners reported that they were more stressed than a year ago, with 34% citing the economic situation as the greatest cause of their workplace stress. This is followed by a heavy workload (26%) and pressure on cash flow (also... more