Small firms sceptical of new dispute service as they face later payment July 12, 2015 The average delay in receiving payments faced by small businesses has risen to 72 days, according to new research published today by the Asset Based Finance Association (ABFA). It is a day longer than a year ago and 11 days longer than at the peak of the recession. “Despite the economic recovery gathering pace, payment [...]
July Budget 2015: George Osborne pledges lowest corporation tax in G20 but new bank tax hits UK small lenders July 8, 2015 Chancellor pledges lowest corporation tax in the G20 – but casts punitive net over the UK’s small lenders Chancellor George Osborne ushered in a new tax regime for British banks yesterday, dialling down the controversial bank levy while introducing a new corporation tax surcharge for the entire lending industry. In a summer Budget that the [...]
July Budget 2015: Living wage bill hurts retailers and small firms July 8, 2015 Retail and hospitality industry insiders warned yesterday that their sectors face a huge rise in labour costs after a Tory pledge to introduce a minimum wage of £9 for over-25s by 2020. From April next year, businesses will be required to pay £7.20 per hour to workers over the age of 25, rising to [...]
DWP makes fresh pension push with Theo Paphitis advertising campaign to get small business auto-enrolling workers July 6, 2015 The Department of Work and Pensions (DWP) is relaunching its pensions advertising campaign starring Dragons’ Den entrepreneur Theo Paphitis in a new push to get small companies auto-enrolling staff in workplace pensions. The campaign will rework the previous creative used in 2012 when a £3.5m campaign first launched, as the government seeks to target businesses employing [...]
July Budget 2015: Small business group wants tax reform June 28, 2015 British small businesses are calling on chancellor George Osborne to reform and simplify the tax system in next week’s emergency budget. The Federation of Small Businesses (FSB) has asked the government to “widen the scope of reform to radically simplify the tax system and improve incentives to encourage investment”. The small business group praised the [...]
Better small company reporting is key to unlocking EU Capital Markets Union June 24, 2015 Smaller quoted companies are vital to generating long-term sustainable economic growth and creating jobs. Smaller enterprises have the capacity for dynamic growth, development of new markets and sustainable job creation. But how best to attract the capital they need to achieve their potential? The European Commission’s proposal for a Capital Markets Union has sought [...]
Small business confidence hits five-year high in the UK June 22, 2015 Britain's small businesses grew solidly over the last three months, according to the latest small business index from the Federation of Small Business. A “robust” improvement in confidence pushed up productivity, job creation and investment at a faster rate than in the economy as a whole. Both investment and growth hit their highest [...]
Small firms grow at fastest rate since 2008 June 16, 2015 Small and medium-sized enterprises (SMEs) are growing at their fastest rate since the economic crisis in 2008, according to a report out today. New research from the Enterprise Research Centre (ERC) shows that the private sector added over 600,000 net new jobs last year, allowing SMEs to “regain the ground lost” in 2008. The ERC said [...]
Goldman Sachs is launching an online lending platform for small businesses June 16, 2015 Goldman Sachs is launching an online lending business for consumers and small businesses, according to an internal memo. It will allow the bank to provide loans more quickly via the internet, helping it to compete with the likes of the Lending Club, for which it was a lead underwriter only six months ago. The [...]
Alibaba founder Jack Ma’s three tips for small business owners June 11, 2015 If there's one person small business owners would want to learn from, the richest man of the world's second-largest economy who was also the guiding force behind the biggest IPO in history wouldn't be far down the last. Luckily, Jack Ma has shared his three tips for small business owners in a conversation with American [...]