Barclays has today released £150 million in new funding for UK SMEs through the European Investment Bank (EIB) Loan Support Scheme, which includes a 2.5% upfront cashback payment when the loan is drawn.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
Why it pays to be protected
As businesses tighten their belt in a recession, the need for properly documented contracts is even more important than usual– it is well known that disputes increase when money is tight, and if you are doing business without proper contracts, you are at risk.
To grow or play it safe? That’s the million-dollar question…
One reoccurring topic which always seems to crop up when speaking to business owners is ‘when is the right time to bite the bullet and take the business to the next level’? When do we stop the bootstrapping and say hello to investment? I am a firm believer that all businesses can (and in most cases, should be) boot-strapped from day one. This not only saves costs, it keeps your business lean and avoids the unnecessary ‘fat’ that one could be tempted to add if investment is gained early on.
Businesses rank Business Link a success in latest customer surveys
Figures revealed today by Business Link, at an event attended leading entrepreneurs and Business Link ambassadors: Karen Darby (Call Britannia), John Bird (Big Issue), Imran Hakim (iTeddy), John Cowell (Cowell Co), and Claire Young (former Apprentice finalist) show that businesses believe they save time, increase their sales and raise profits as a direct result of using the Business Link service.
Business owners sacrifice health for work
Small business owners are putting work before their health, according to new research published today. The figures reveal that one in four (26%) small business chiefs have missed, cancelled or put off a health appointment in the last year due to work commitments.
Small businesses get help in pre-budget report
The chancellor is providing more help to small businesses by extending the availability of the enterprise finance guarantee scheme by six months to September 2010. Under the terms of the scheme, introduced in March, the government offers to guarantee 75% of loans to small firms with turnover of £25m or less.
Staff say they “deserve” Christmas parties after the last 12 months
Employees around the country really want to let loose this holiday season following the economic difficulties of the last 18 months – but nearly one in three won’t have the opportunity, as many smaller businesses plan to forgo the annual Christmas party this year.
Pre-Budget Report: Darling could drive out UK business
Business groups including the British Chambers of Commerce (BCC) have sounded a warning amid mounting expectations that Alistair Darling is contemplating a new 60pc to 70pc tax rate for those earning more than £500,000, as well as a windfall tax on banking bonuses.
SMEs lose nearly £1.2BN by not reclaiming VAT each year
UK VAT-registered SMEs are missing out on 1/4 of potential VAT reclaims due to sloppy expense practices, according to new research. Professor Stephen Roper, Centre for Small and Medium Sized Enterprises, Warwick Business School, estimates that this equates to £1.18bn in lost fuel VAT reclaim potential.
Fundraising challenge aims to raise £6Million in a week
A fundraising challenge to raise £6 million for charity in a single working week has been launched by one of the UK’s leading not for profit organisations.
The Big Give has created a matched fund – generated through a combination of trustees, major donors and the charitable Reed Foundation – which will be available from Monday 7 to Friday 11 December to attract £3 million of donations via its website, www.thebiggive.org.uk.
Tsar Sugar: the good, the bad, the pointless
Last night I, on behalf of Smarta, got my first close-hand look at Baron Alan Sugar of Clapton since he controversially assumed the position of ‘Enterprise Tsar’ – a title he rejects.
Royal Mail hit business hard with strikes
The recent strike action over pay and jobs at the Royal Mail is likely to cost the economy over £1 billion and many smaller businesses will bear the brunt.
The reason for the dispute centres on a pay and flexible working deal made in 2007, and which has since unraveled. The union wants reassurances over job security while the Royal Mail wants more flexible hours alongside more automated processes.
CBI sees recession as a catalyst for new business era
The recession has become the catalyst for a new era in business, according to a report by the CBI. The study by the employers’ group identifies four key areas of UK business where new ways of working could develop because of the downturn.
Federation of Small Business throws lifeline to flood-hit companies
British businesses which have been devastated by the recent floods and are members of the Federation of Small Business (FSB) can apply for interest-free loans of up to £5,000 to help them through the crisis.
Cautious welcome for Queen’s speech
UK business cautiously group UK200 welcomed some of the government’s proposals to stabilise the financial system, announced in today’s Queen’s Speech – although it said more information was needed on how the measures would work in practice before a final judgement could be made on how effective they would be.
