Business News Articles

New bank holiday announced for 2012
Small business owners must be aware that they will have to give staff an extra day's holiday to mark The Queen's Diamond Jubilee in the first weekend of June 2012. The government have announced that the extra bank holiday on Tuesday the 5th of June has been created to provide a focal point for the celebrations. In addition, the traditional Bank Holiday at the end of May will in 2012 be moved... more

Interest rates held again
The Bank of England has held interest rates at the historic low of 0.5% and announced no new changes to its quantitative easing programme. The bank first cut interest rates to 0.5% in March in an attempt to boost the UK economy, and it is widely expected that the rate will not be increased until at least the second quarter of 2010. An extra injection of £25bn was made to the quantitative ea... more

Firms still operating despite snow
Employees from many small and medium-sized businesses have continued to work this week, despite many being unable to make it into the office, according to data released by internet services provider Gradwell. The firm's statistics show that, despite the snow, between 9am and 10am on the 5th and 6th of January, almost as many phone calls were made as on any other working day of the year. This... more

House prices rise 1.1%
House prices in the UK were 1.1% higher in December than the same month last year - the first annual rise since March 2008, according to data released by the Halifax. Prices in December were also 1% higher than in November, meaning that house prices have now risen for six consecutive months. The average home in the UK is now worth £169,042. "The prospects for the market this year will depen... more

London SMEs face tax rise
Ten thousand small firms in London are being hit by a stealth rise in business rates this year. Government figures reveal that there has been a large fall in the number of companies that are exempt from paying a rates supplement to fund Crossrail following a revaluation in April. Until the recent changes just under a quarter of a million SMEs in the capital fell below a rateable value of £5... more

Google launch Nexus One
Google has unveiled its own-brand smartphone - the Nexus One - which it hopes will compete with Apple's iPhone. The Nexus One is a slim, touchscreen phone that runs Google's Android operating system. The phone can be purchased via Google's website and initially is available on T-mobile in America followed by Vodafone in Europe. Direct from Google the phone will cost £330 and those who want ... more

Lending increases by £14bn
Lending to businesses and consumers by banks increased in November following two consecutive months of decline, according to the Bank of England. The Bank's data revealed that the amount of money available increased by 0.9%, the equivalent of £14.3bn, during November. This increase has been attributed to the Bank's policies of quantitative easing (QE) and the historic low interest rate. How... more

Banks overcharging for gov scheme
Small businesses believe that banks are charging too much in administration charges and interest rates under the government's Enterprise Finance Guarantee scheme, according to research from Durham University. The research reveals that the average administration fee charged by Enterprise Finance Guarantee lenders is £2,430, with interest rates set at just under 6%. Only 26% of small businesses ... more

70% of SMEs using online marketing
Over 70% of small businesses are increasing their online presence as a means of attracting new customers and surviving the recession, according to new research by private banking firm Kleinwort Benson. The data also revealed that 63% of the small companies surveyed said that an online presence is critical to future success. Glyn Heath, chief executive of Centiq, said that interest in social med... more

Manufacturing activity hits 2 year high
Activity in the manufacturing sector has risen at the fastest pace for more than two years, according to the Chartered Institute of Purchasing and Supply (CIPS) managers' index. The index rose to 54.1 last month, above the expected forecast of 52.0 and after a surprise fall to 51.8 in November. The figures suggest Britain's economy ended the year on a strong footing and will boost expectations ... more