Business News Articles

80% of UK firms not cutting back on overseas business travel
Four out of five UK businesses are still planning to spend money on travel, despite the current economic crisis, according to research by the Institute of Travel Management (ITM). The ITM survey found that only 20% of firms are planning to implement a total ban on staff traveling abroad and that 53% are positive about the future of the business travel industry. "Our clients are still traveli... more

Company start-ups at lowest level for 35 years
The number of new companies being set up has fallen to its lowest level in 35-years, according to research conducted by accountancy firm Wilkins Kennedy. Last year in the UK 372,400 new companies were set up - 17% fewer than in 2007. Although the current recession is partly responsible for the lack of new companies the government has also been blamed for the decline in new companies. In the ... more

Demand for office space falls at fastest rate on record
Demand for business office space has fallen at the fastest level on record, according to research conducted by the Royal Institution of Chartered Surveyors (RICS). More than 70% of RICS members reported a fall in demand in the last quarter of 2008, compared to the previous quarter when just over 50% saw a decline in demand. Small business owners whose lease is set to expire are being advised... more

Small businesses need ‘more government support’
Small firms do not feel that government measures have succeeded in helping their businesses, according to a survey by The Federation of Small Businesses (FSB). The survey of over 4,000 SME owners revealed that recent state intervention, such as the reduction in VAT, bank lending guarantees and a pledge to reduce the amount of time government organisations pay their invoices has had little impac... more

New apprenticeship bill to provide compulsory training for young staff
A new government bill would provide small business employees with increased access to training programmes. The apprenticeships, skills, children and learning bill will give all suitably qualified young people a legal right to on-the-job development. If the bill becomes law it would be the biggest change to apprenticeship legislation in modern times. "This new bill will put in place new ri... more

Government report backs new personal accounts pension scheme
A government report has backed a new national pension system that is designed to encourage employees to save. The personal accounts system, to be launched in 2012, will top up payments from the basic state pension and will use automatic enrolment to persuade millions of workers to save. The government have released a report, which has claimed that almost everyone will benefit from entering t... more

Number of firms going bust doubles in last quarter of 2008
The number of firms going bust in the last quarter of 2008 in the UK increased by 220% from the same period last year, according to figures released by the government's insolvency service. SMEs have suffered the most in the recession, with an increasing number of small firms ceasing trading. In the last three months of 2008 there were almost 2,5000 corporate insolvencies, and just under 30,0... more

Small business groups call on government to unblock credit
Business groups, including the Federation of Small Business (FSB) and the British Chamber of Commerce (BCC) have called on the government and the Bank of England to adopt new monetary policies and ensure that yesterday's interest rate cuts are passed on. "Interest rate cuts are yesterday's story and today's story is about access to money," said Stephen Alambritis of the FSB. Many small busin... more

Small business owners concerned over new health and safety laws
Small business owners believe that new health and safety regulations that have recently been implemented will pose the largest barrier to the growth of their business, according to a new survey. The Health and Safety Offences Act 2008 came into force on January the 16th and imposed tougher fines and prison sentences for the owners of companies found to be in breach of the Act. The survey by ... more

75% of small firms unaware of their printing costs
Only 25% of small businesses know how much money they are spending on printing, according to new research by Samsung Electronics. The research also found that despite SMEs not knowing their printing outlays over 80% stated that cost was the key factor when purchasing printers. "With companies looking to cut costs where they can right now it's amazing to see that print costs seem to have been... more