Business News Articles

Quarterly rent payments 'have no place in modern age'
Many companies that pay their rent on a quarterly basis will struggle when their first payment of the year is due this week and the practice of quarterly payments should be abolished, according to the British Retail Consortium (BRC). Stephen Robertson, BRC's director general stated that they "had no place in the modern age of instant electronic money transfers." Many retail businesses are si... more

New mortgage lending rises to 10-month high
New mortgage lending reached its highest level in 10 months in February, according to data released by the British Banking Association. While businesses around the country will be pleased with the news - the housing market is a major indication of the health of the economy - mortgage approvals are still only slightly above the record lows of last autumn. "Activity in the housing market is a ... more

Rising business costs squeeze SME profits
The cost of doing business is increasing at a quicker rate than prices by 2.2%, according to a new survey by Fathom Financial Consulting. The research found that companies costs rose at an average of 6.1% and consumer prices only increased by 3.9% - leading to a gap of more than 2%. "Business Price Inflation at 6.1% means that firms' profits, already under pressure from the recession, are b... more

Take-up of London office space hits new low
Take-up of new office space in the city of London has fallen to the lowest level since records began twenty years ago, according to figures released by retail company Atisreal. Since the beginning of the year just 220,000 sq feet of new office space has been taken up - just half of the office take-up during the last recession. The downturn has also affected city rents, which are down around ... more

Award ceremony recognises business educational partnerships
Businesses and higher education institutions from across the UK celebrated a year of outstanding achievements in innovation at the annual Knowledge Transfer Partnerships awards in London. The awards recognised the most successful partnerships fostered through the Technology Strategy Board-led Knowledge Transfer Partnerships programme, which supports innovation-led, three-way partnerships betwee... more

Government urged to 'extend cash rebate scheme'
Small businesses whose accounting year ends in the first half of 2008 could lose out on a cash rebate scheme unless the government changes its policy, warns The Institute of Chartered Accountants in England and Wales (ICAEW). The government's cash-rebate scheme is aimed at helping businesses through the recession by allowing firms that are suffering losses this year to offset them against profi... more

Over 65% of small firms unaware of changes to holiday entitlement
More than 65% of small businesses are unaware that from 1st of April all full time employees are legally entitled to an extra four days holiday a year, taking the total minimum holiday entitlement to 28 days a year. According to a survey by online storage firm Humyo.com, two-thirds of the small firms surveyed want no change in the holiday set-up because of the economic crisis and almost 50% sai... more

Employers are ‘not utilising their staff’s skills’
Employers are not making the best us of their staff's skills, according to research of more than 2,000 companies by consultancy The Work Foundation. The study found that businesses in the UK are failing to properly utilise the skills of their workers, with 40% of staff over-skilled for their current role. 65% of those surveyed also reported that they feel that their organisation is ‘rule and ... more

Latest RPI figures in line with expectations at 0%
The Retail Prices Index (RPI) - a key measure of UK inflation - has fallen to zero for the first time in 49 years, according to figures from the Office for National Statistics. The RPI fell to 0% in February, down from 0.1% in January. This has led to concerns that the UK could be on the brink of a prolonged period of deflation as customers hold back on spending as they wait for prices to decre... more

Peter Jones to head entrepreneurial support review
Entrepreneur and Dragon's Den star Peter Jones has been asked by skills secretary John Denham to head a review into the support that universities and colleges give to aspiring entrepreneurs. "I believe that small businesses can help us not only to come through our current economic problems, but also to emerge from them stronger," said Mr Denham. "That's why I want to ensure that my Departmen... more