Editorial: Bank marched markets up the hill – it can’t be angry they were disappointed they were told to go back November 4, 2021 Bank of England governors have a recent history of not always delivering it comes to guidance. Famously, former Bank chief Mark Carney was labelled an “unreliable boyfriend” for routinely failing to deliver on his words. Current boss Andrew Bailey seems to be eyeing up Carney’s crown after the Bank yesterday decided to hold rates at [...]
Thousands of UK small businesses ‘can’t repay Covid loans’ August 10, 2021 Thousands of SMEs that received government Covid loans and the furlough scheme can now not make repayments amid limited cash flow, a survey of small businesses out today shows. The survey projected 59 per cent of SMEs in the UK, amounting to around 3.5m businesses, used government loans or furlough schemes during the pandemic. The [...]
SMEs confident about recovery but frustrated by lack of financial backing July 22, 2021 Owners of small and medium-sized enterprises are feeling more optimistic than last month but are struggling to get financial backing, according to figures from the Association of Chartered Certified Accountants (ACCA UK) and the Corporate Finance Network (CFN), shared with City A.M. today. The survey shows that 89 per cent of SME owners are trading [...]
Pandemic impact: Third of businesses to ramp up online presence and reduce physical foot flow July 20, 2021 Covid-19 saw most businesses close their doors indefinitely to the public and cause some to permanently shut. Many small business owners would not have survived the pandemic without creating or improving their digital presence, according to technology company Cisco, saying 40 per cent managed to get through the pandemic thanks to an online platform. In [...]
Over two-fifths of Hong Kong migrants plan to start business in the UK July 19, 2021 The UK could be set for an entrepreneurial boost from an unlikely source – with almost half of wealthy Hongkongers coming to the UK set to start their own businesses. According to UKHK.org, a charity supporting Hongkongers in the UK, a new survey of Hongkongers found more than half (52.1 per cent) have or intend [...]
Prince Charles warns small family farms must survive for an environmentally friendly future July 14, 2021 The Prince of Wales has called for small family-run firms to be at the heart of attempts to go green. In an essay for BBC Radio 4’s Today Programme, the heir to the throne warned letting family-run farms go to the wall would break “the backbone of Britain’s rural communities,” and said the “heart will [...]
Looking on the bright side: Business owners optimistic about pandemic recovery July 13, 2021 As Freedom Day approaches, business owners have told City A.M. they are optimistic about the road to recovery, with many believing they make come out stronger as their e-commerce operations have matured as a result of the pandemic. Almost one in five of small business owners expect their revenues to grow by about 10 per [...]
US lobby groups gear up to fight Biden corporate tax hikes July 6, 2021 US business lobbying groups are preparing to stop new corporate tax hikes in a spending bill linked to the bipartisan $1.2tr (£870bn) infrastructure deal. As reported by Reuters, the US Chamber of Commerce, the National Association of Manufacturers, the National Retail Federation and other wealthy lobby groups plan to sway a handful of Democrats against [...]
FSB calls for govt to bridge 18-day gap between Covid support and full reopening June 28, 2021 The Federation of Small Businesses (FSB) has made a last urgent appeal to the government to help small firms by bridging the gap between the end of Covid financial support this Thursday and the July 19 full reopening. Full furlough, business rates exemptions and deferred VAT payments will all end on Thursday July 1, eighteen [...]
Small businesses battered by Covid restrictions see return to pre-pandemic sales June 24, 2021 Small businesses are seeing their sales slowly creep back toward pre-Covid levels, but sectors such as hospitality and arts and recreation still have a way to go. An analysis of the records of hundreds of thousands of companies shows that the health of small businesses has remained steady. However, despite the easing of lockdown restrictions [...]