NEWS - BUSINESS & ECONOMY
The United Kingdom has been ranked eighth out of 137 countries worldwide and fifth out of 41 European countries for starting a business in a report from Global Entrepreneurship Week.
The Global Entrepreneurship Index 2017, which was produced by the Global Entrepreneurship and Development Institute, gave the UK an over-all score of 71 per cent, making it one of the top ten places in the world for starting up a business.Read more >>
BT has boosted the UK economy by £23 billion in the last year, according to a report by Regeneris Consulting.
The report, which is titled The Economic Impact of BT and EE in the UK, showed the contributions that BT and EE, which BT has taken over, have made to the economy across England, Scotland, Wales and Northern Ireland in the financial year 2015/2016.Read more >>
SMEs are set to contribute £217 billion to the UK’s economy by 2020, according to new research from the Hampshire Trust Bank.
The research, which was completed in collaboration with the Centre for Economics and Business Research (Cebr), identified the top ten cities for SME contribution to the economy.Read more >>
Over 85 per cent of UK employees who have more good days at work feel appreciated, compared to 60 per cent who do not have as many good days, according to a survey from Robertson Cooper and the Bank Workers Charity.
The report, titled ‘What is a good day at work?’, surveyed 1,500 working adults from the private and public sector in the UK and looked at how good days are linked to employee wellbeing, including mental and physical health, personal development and job satisfaction.Read more >>
Specialist lender Together has confirmed that the company is part of NatWest’s Capital Connections panel of finance providers, with the scheme now being available to businesses nationwide.
The scheme enables businesses that are unable to obtain finance from NatWest to have access to alternative funding.Read more >>
The Government is aiming to make the UK the safest place in the world to do business by spending an additional £1.9 billion to help prevent cyber security threats.
Chancellor Philip Hammond outlined the new strategy, which will see the Government working with companies and investing in experts over the next five years to help tackle and prevent cyber-attacks.Read more >>
Business confidence in Britain is at a high after the Brexit vote, with 37 per cent of UK companies expecting their business prospects to improve, according to a survey from Lloyds.
The survey showed that businesses feel confident about the UK’s economy, with 47 per cent saying that they expect the economy to improve and 34 per cent being positive about the direction in which the country is heading. Just 13 per cent of businesses had a negative view.Read more >>
A £60 million fund to help businesses in Scotland to grow and boost the country’s economy has been unveiled.
The fund, which will come from the European Regional Development Fund, will benefit over 20,000 businesses and help to create thousands of jobs.Read more >>
Research from Trainline suggests that more businesses are choosing to be based outside of London, taking advantage of lower costs and increased mobility and interconnectivity between locations.
The research also found that small and medium-sized business rail travel to hubs outside of London has increased by up to 65 per cent since 2012, with Brighton having seen the biggest growth at 230 per cent.Read more >>
The 13 best places to do business have been revealed in a business environment index that is part of the Legatum Institute’s UK prosperity index.
The index ranked the locations by taking into account factors such as entrepreneurial activity, business survival rates, infrastructure and broadband speed.Read more >>
The ScaleUp 2016 expo, which brings leading business experts and entrepreneurs together to discuss current business issues, has now been announced.
The event is organised by Enterprise Nation in collaboration with the ScaleUp Institute and the Institute of Chartered Accountants, England and Wales (ICAEW).Read more >>
A group of entrepreneurial organisations have formed a small business taskforce, urging the Government to assist UK businesses and support labour market flexibility when Britain exits the EU.
The 13 organisations in this taskforce (including Enterprise Nation, Global Entrepreneurship Week, IPSE, and the Centre for Entrepreneurs) claim to represent over 1 million small businesses and self-employed workers.Read more >>
Over 70 per cent of small businesses in the UK are expecting dramatic or moderate growth over the next two years, according to a report from Albion Ventures.
The fourth Albion Growth Report surveyed 1,000 small businesses and found that just 5 per cent think that they are likely to shrink or wind down, whilst 50 per cent are planning to take on more employees.Read more >>
Business activity in London reached its highest in eight months during September, according to a report from Lloyds Bank.
The bank’s regional PMI, which is an economic health-check of UK regions, showed that business activity in London’s private sector reached its highest rate since January, with businesses experiencing a growing demand for goods and services.Read more >>
HSBC is to help small businesses in the UK to save £13 million a year by reviewing bank tariffs for businesses with turnovers of up to £22 million.
The plans come after the bank’s Electronic Banking Tariff increased its turnover from £500,000 to £2 million.Read more >>
A survey from Flexjobs asked employees when they feel least and most productive.
They found that most feel more productive at home, with 50 per cent preferring to work from home rather than in the office.Read more >>
The UK’s business population has reached its “highest ever level”, up by 4 per cent from £2 million last year to £2.1 million, according to research from UHY Hacker Young.
The research found that the number of businesses in the country per capita has increased to 32.7 businesses per 1,000 of the population, nearly reaching the pre-recession level of 32.8.Read more >>
Office space provider Citibase has announced plans to expand in Scotland, with two new centres being launched in Aberdeen and North Lanarkshire.
The new centres will see Citibase doubling its number of business hubs in Scotland, which will provide flexible workspace for 500 Scottish businesses and boost the country’s economy.Read more >>
Lloyds Bank and the British Franchise Association (bfa) have launched a new online learning initiative for aspiring franchisees.
The Prospect Franchisee Certificate (PFC) will enable people considering starting a franchise to learn about the financial aspects of starting and growing a business.Read more >>
Charity Finance Group (CFG) has launched a programme to help small charities manage their finances and provide support for community accountants.
The Small Charities Programme for England and Wales will be piloted this year and is set for a full launch in January 2017.Read more >>
The Prince's Countryside Fund, which was created six years ago to help improve rural businesses and communities, has announced a £600,000 grant funding pot to support rural initiatives.
The fund will help to support projects that provide opportunities, such as training for young and unemployed people, in rural communities.
Read more >>
London’s fintech sector could help the UK’s law firms after almost a quarter of finance directors from the country’s top law firms expressed their concerns over an M&A slowdown hitting profitability.
A new report by Thomson Reuters Legal, an organisation that helps professionals in areas such as finance, legal and accounting, states that the number of finance directors concerned over an M&A slowdown was down from 8 per cent last year.Read more >>
Small businesses in the UK have seen a second consecutive year of growth, according to the annual Hiscox DNA of an Entrepreneur report.
The report showed that 64 per cent of small businesses have reported revenue growth over the past 12 months.Read more >>
Lending to small businesses has reached a record high over the past year, according to new figures from the National Association of Commercial Finance Brokers (NACFB).
The figures showed that lending has risen by 30 per cent to a record £20.7 billion, despite the economic uncertainty surrounding the EU referendum. It is the seventh year in a row of growth for lending to small businesses.Read more >>
New measures are being introduced to tackle late payments that affect small businesses. The measures were supported in a letter from Minister for Small Business Margot James to PPC signatories.
The letter, which has been backed by Chartered Institute of Credit Management Executive Philip King, stated that paying invoices within 30 days should become “the norm.”Read more >>