Business News Articles

Number of start-ups falls 10% in recession
The number of new businesses being established around the world has declined due to the global recession, according to data released by the annual Global Entrepreneurship Monitor (GEM). There were 10% fewer new start-ups last year in the 20 richest countries in the world. The decline was the most severe in America, where it fell 24%. By contrast, the UK only saw a 6% drop. "Throughout the wo... more

New right for staff to request training
Small business owners have been advised that new guidance has been issued by the government to inform employers about the new right of staff to request time off for training. The right of staff to request time off for training will come into effect on the 6th of April this year, although the introduction of the right will be phased. The right will be made available to staff in organisations ... more

UK exports hit 13-month high
UK exports in November reached their highest rate in over 13 months, according to data released by the Office for National Statistics. Exports rose to £20.2bn, the most since October 2008, driven by sales of consumer goods and chemicals. "A narrowing trade balance is consistent with a rebalancing of the external and internal sectors of the economy and it's certainly a trend which we hope is... more

Best Christmas sales for 8 years
High street sales enjoyed their best December growth for eight years, according to data released by the British Retail Consortium (BRC). Like-for-like sales rose 4.2% by value during the month after a last-minute buying spree by shoppers, and a rebound in consumer confidence. The rush to snap up goods ahead of the New Year's Day reversion to 17.5% VAT acted as a further boost to sales. The i... more

Fraud increases 76%
Small business owners have been warned that there was over £2bn worth of reported fraud in the UK last year, according to new research released by business advisers BDO. This is the first time that the sum has gone over the £2bn mark and is a 76% increase on last year's figures. BDO have predicted that, though shocking, the fraud figure is likely to keep rising - perhaps as high as £5bn a ye... more

Tories reveal plans to help small firms
Conservative leader David Cameron has unveiled a host of measures designed to help small businesses. Cameron has said that a Conservative government would increase the insolvency threshold and reduce the number of days it takes to get a new business started. Under the current law the government can bankrupt companies that have unpaid taxes of over £750, a threshold that the Tories will rais... more

Jobs market is 'recovering'
The UK job market is growing at its quickest rate since July 2007, according to data released by the Recruitment and Employment Confederation (REC) and KPMG. Figures from last month showed that sharpest growth in the number of permanent and temporary placements for two and a half years. The number of staff appointments rose for the fifth month in a row in December, with demand for permanent ... more

Richard Branson moves into banking
Serial entrepreneur Richard Branson is planning to buy a privately-held British bank to extend the Virgin brand's reach into retail banking. Virgin Money has put forward a bid, which has been approved by the FSA, and values its target of Church House Trust - a bank with 3,000 private customers and £50m in deposits - at just under £12.5m. "The Church House Trust business offers us a strong ... more

50% of staff only had 2 sick days in 2009
More than 50% of staff took less than two days sick leave last year, according to data released by Water Wellpoint. The data also revealed that 85% off staff said that they would not even consider calling in sick this year unless they were seriously unwell, highlighting the fears that many employees have regarding their job security. While small business owners will no doubt welcome their st... more

Only 10% of staff absent due to snow
The majority of companies have reported that less than 10% of staff have been absent due to the adverse weather conditions, according to a survey by the British Chambers of Commerce (BCC). The survey revealed that 61% of businesses have seen less than 10% of their staff absent and 65% replied that any staff members facing poor travelling conditions are able to work from home. "The impact of ... more