Business News Articles

Small firms welcome freeze in small companies corporation tax
The majority of small firms believe that the freeze in small companies corporation tax will help their business, according to a survey by the British Chamber of Commerce (BCC). 52% of respondents reported that the delay in increasing the tax would help their business in the current economic climate. Not all government measures to help business have been met with approval - over 90% of Britis... more

Pre-tax profits for BT down 81%
Telecommunications giant BT have announced that pre-tax profits in the three months to December 2008 have fallen 81% from £630m to £113m. Shares in the company have fallen to a record low following the announcement, down to the lowest level since BT was privatised in 1984. This news follows a report by the telecoms regulator that it would not be able to stop BT from securing an adequate re... more

Only ‘£12m’ lent to small firms through loan guarantee scheme
Only £12m has so far been lent to small companies under the government's £1bn loan guarantee scheme for small businesses, according to research by the Financial Times. Gordon Brown launched the scheme to try and ensure that banks continued to lend to small firms in the economic downturn, and the PM recently stated that over 60,000 businesses had benefited from the scheme. However, this fig... more

New IT service offers savings for small firms
Specialist supplier of Web-based services for small businesses, Business IT online, have launched a series of services to the SME market to help them cut costs. With recent reports from the Federation of Small Businesses (FSB) showing that over 80% of small firms saw their costs increase last year any area that small companies can save money is potentially vital. Business IT online have laun... more

Over £1bn worth of ‘time to pay’ deals agreed with HMRC
Over 60,000 businesses have taken advantage of HM Revenue & Customs time to pay arrangements and delayed paying certain taxes. The total figure of delayed payment by UK firms, many of them small companies, is over £1bn. The time to pay arrangements are particularly helpful to smaller firms that are experiencing cash flow and credit difficulties during the current recession. "This service... more

Government offer small firms tips on cutting utility bills
A government campaign is offering small businesses tips from Defra and the Department of Energy and Climate Change (DECC) on how to save money on utility bills. DECC and Defra have put forward ten tips on how SMEs can save money and the environment as part of their Real Help for Businesses Now' campaign. The tips include switching off computers and monitors as a single computer and monitor l... more

Number of foreign workers in the UK rises by over 200,000
Employment of UK-born workers declined by almost 280,000 in 2008, according to official figures released by the Office for National Statistics. While the number of UK-born employees declined, the number of foreign staff employed by UK businesses rose by 214,000. The number of foreign workers now stands at over 3.8m - up almost 2m from a decade ago. Staff in the UK staff have recently been pr... more

Financial Services Authority to cut fees for 10,000 small firms
The Financial Services Authority (FSA) has revealed in its annual business plan that it is to cut fees for over 10,000 small firms. Small companies will have their minimum FSA fees frozen at 2008/09 levels and the regulator says they will see a reduction in fees due to sums raised by the impact of FSA fines and by larger firms paying more. "This will mean higher fees for regulated firms, al... more

Trust between business motorists and government has ‘broken down’
The chief executive of the British Vehicle Rental and Leasing Association (BVRLA) has told the Commons Transport Committee that trust has broken down between the business motorist and the government. Chief executive John Lewis said that too many taxes on motorists are viewed as simply being there to make money rather than trying to positively influence driving behaviours. "I think that mistr... more

Leading entrepreneur calls on government to cut red tape
Entrepreneur Sir Tom Farmer has stated that the largest burden that small companies face is red tape, and has urged the English and Scottish governments to cut the amount of paperwork that SMEs face. "The one difficulty that all businesses face is red tape. It's a stranglehold on many firms," said Sir Tom. The founder of the Kwik-Fit tyre company is one of the most respected entrepreneurs in... more