Taxpayers could lose £2bn as small businesses take government to court over interest swap investigation January 25, 2015 Small business in the UK are taking the government to court over their exclusion from a compensation scheme set up following the mis-selling of interest rate swaps. The swaps were complex products sold to a large number of business by UK banks. They were designed to provide protection against interest rate changes. But when [...]
Political uncertainty: The greatest threat to Britain’s thriving small businesses January 21, 2015 In the depths of the financial crisis, we were approached by a small house builder in the South East who was looking for finance to refocus his business towards the higher end market. A gamble at the worst possible time, you might say. But five years on, and his business is thriving. It’s a small [...]
“One small step for WeBank, one giant step for financial reform”: China opens its first private bank under pilot scheme to help small businesses grow January 6, 2015 Yesterday, China opened its first web-only private bank, with the intention of helping small and micro-sized enterprises secure loans that commercial lenders are often unwilling to give them, due to a higher perceived risk compared to larger companies. Chinese investment company Tencent owns 50 per cent of the new bank, dubbed WeBank (see what [...]
Exclusive: Britain’s small businesses are being held back by “digital immaturity” December 17, 2014 Britain's small businesses are missing huge opportunities by failing to adapt adequately to the digital age, according to research published today. The UK's embrace of the American retail tradition of Black Friday has served to highlight how businesses are falling behind their customers. Mobile has become a key part of the consumer experience. On Black [...]
Small businesses make plea to Amazon customers over 1p glitch December 15, 2014 Etailers hit by a glitch that caused thousands of products to be listed on Amazon for 1p have made a direct plea to customers in a bid to recover their losses and stave off bankruptcy. Video games seller Go2Games said it has appealed on its Facebook page to customers who bought products for 1p on [...]
How government is opening its supply chain – to small business’s benefit December 7, 2014 If you’ve never considered government as a potential client for your business, think again. Government spends £230bn every year on products and services across all layers – from central and local government, to the police, NHS, and emergency services. This may not previously have appealed to the small business owner, as the perception has always [...]
Small Business Saturday 2014: High street stores are not keeping up with the online era, research claims December 6, 2014 As Brits are being urged to get out onto the high street to mark Small Business Saturday new research shows consumers aren't too impressed with the pace of change in the country's small shops. Only six per cent of the public think local shops are sufficiently equipped for an era of online retail and more [...]
George Osborne announces £1bn boost for small businesses ahead of the Autumn Statement December 2, 2014 George Osborne has announced a lending package worth nearly £1bn for the UK's small and medium-sized businesses ahead of tomorrow's Autumn Statement. The Treasury will give £400m to expand Enterprise Capital Funds, which invests in fast-growing small and medium size enterprises. It will also guarantee up to £500m of new bank lending to these kind [...]
Aim-listed firms bouncing back: Alternative Investment Market companies have biggest quarter of takeover activity October 5, 2014 The London Stock Exchange’s market for smaller growing companies, the Alternative Investment Market, had its biggest quarter of takeover activity in over two years as Aim-listed firms become attractive takeover targets. According to the accountancy group UHY Hacker Young, the three months to the end of September saw 13 merger and acquisition deals involving Aim [...]
Why Labour is the natural party of small business and entrepreneurs February 5, 2013 “You’re all the same” is the complaint often levelled at politicians. But this cannot be said of small businesses, even if the increasing use of “SME” as a shorthand for small and medium-sized enterprises can give the opposite impression. One of my resolutions for 2013 is to stop using the term. It doesn’t do justice [...]