Business News Articles

New light bulb could cut bills by 75%
A light bulb that can last up to 60 years and cut bills by 75% has been unveiled, and will be available to buy in two years time. With costs rising for small business, investing in the £2 light bulb that is 12 times more efficient than traditional bulbs makes good business sense. "This won't just be good news for the environment, it will also cut electricity bills," said Prof Colin Humphrey... more

UK company failures increase 30% in final quarter of 2007
The number of UK company administrations increased by a third in the final quarter of 2007, according to a survey by business advisory group Deloitte. The amount of company failures rose by 30% in the last quarter of 2008, compared to the corresponding period in 2007. In 2008 there was a total of 3,025 company administrations - 20% more than in 2007. "Businesses should take this as a warn... more

TV advertising revenues to decline £600m by 2010
Television advertising is predicted to fall from the £3.4bn achieved in 2007 to £2.8bn in 2010, according to data from Enders Analysis. Despite increasing numbers of people staying at home during the recession and watching television, any businesses wishing to advertise are enjoying the lowest rates for several years. With the average number of adverts seen by a viewer reaching an all-time... more

Small firms could benefit from taking on apprentices
Small business owners should take on apprentices to ensure that their workforce is sufficiently trained, says The Forum of Private Business (FPB). A survey by the FPB found that 68% of small business owners considered the skill levels of graduates as ‘average' and 18% stated that the general labour skills in the UK are ‘poor' or ‘very poor.' By using apprentices small firms can ensure ... more

Pension Protection Insurance claims increase by 118%
Unemployment claims on Payment Protection Insurance (PPI) rose over 118% from November 2007 to 2008, according to figures released from the ABI. In November of 2008 19,105 people claimed unemployment on PPI, up from 8,772 the year before. "Many people are already feeling the effects of the recession, through rising unemployment. Losing your job is stressful enough, and even more so when you ... more

Government announce £2.5bn package for UK car industry
The government has announced a series of packages and loans worth £2.5bn to support the UK's car industry. Business secretary Lord Mandelson announced the deal yesterday, ahead of a meeting with several leading car manufacturers. The package is designed to unlock bank lending to the industry by offering guarantees based around £1bn worth of guarantees from the UK and around £1.3bn from th... more

BT announces winner of Outstanding Entrepreneur of the Year award
The BT Business Essence Entrepreneur competition has announced its outstanding 20 entrepreneur of the year. For the first time in the competitions three-year history the judges chose an overall winner, Michael Welch of tyre franchise firm Blackcircles who was crowned the Outstanding Entrepreneur of the Year and awarded a £20,000 grant from BT. Mr Welsh said that he plans to spend most of th... more

Poor government advice costing small firms ‘£800m a year’
A government funded review into how SMEs are supported by the government will report that poor advice is costing small firms around £800m a year. The Anderson review, chaired by entrepreneur Sarah Anderson, was set up to identify and evaluate the ways that small companies interact with Whitehall to ensure that they comply with laws on issues including employment, environmental standards and he... more

Open letter by Barclays’ helps shares recover
Shares in Barclays recovered yesterday after the bank issued a letter insisting that it did not have to raise fresh capital. Barclays' saw its shares rise 73% after the bank's chairman and chief executive took the unusual step of publishing an open letter which stated that the bank made over £5bn in profits and did not require new capital. Shares UK banks collapsed last week following conce... more

FSB call for changes to Business Rate Supplements Bill
The Federation of Small Businesses (FSB) has called on the government to allow small firms to have a say over the proposed Business Rate Supplements Bill. The Bill will impose extra tax burdens on businesses, and the FSB is seeking a number of amendments to ensure that the supplement will only be spent on economic development. As well as calling for businesses to be consulted and have a vote... more