NEWS

The latest from Balance for Business

Interest rates set to stay low for at least another two years

Interest rates are set to stay on hold for at least another two years as the economy continues to show signs of slowing, experts believe. If the economic outlook gets any worse, the next move could even be a cut from 0.25pc to 0.1pc. The latest figures for both consumer spending and business investment, published last […]

MORE

Revenue & Customs crackdown on VAT evaders yields £3.4bn from SME’s

Revenue & Customs collected an extra £3.4billion from small and medium-sized businesses in the tax year to April 2017 after a crackdown on firms that fail to pay VAT, according to tax investigation insurance company PFP. VAT accounted for 49 per cent of the extra tax take from investigations into SMEs by the Revenue’s compliance […]

MORE

Funding targeted for Plymouth’s historic buildings

A number of Plymouth’s historic buildings could benefit from funding and protection under a new initiative. Plymouth City Council has applied Historic England to create a new ‘Heritage Action Zone’ covering Devonport and St Peter and the Waterfront, over five years. The project could unlock thousands of pounds to protect and restore listed buildings, including […]

MORE

Business rate warning from experts was ignored

The government failed to act on warnings that controversial changes to the way business rates are calculated would hit small firms with a punitive so-called staircase tax, The Times has learnt. In correspondence seen by The Times, the government was warned of “adverse consequences” for businesses by the Royal Institution of Chartered Surveyors, the Rating Surveyors’ Association and […]

MORE

A growing demand for refurbishment bridging loans

It was interesting to read the latest industry analysis suggesting that demand in bridging finance is soaring. Encouraging figures were published just last week by the Association of Short Term Lenders (ASTL) showing that bridging lending for the 12 months to June passed the £3bn mark for the first time, up from £2.8bn recorded for the same […]

MORE

Steel Fabrication Firm launches after UKSE Funding

A powder-coating and fabrications specialist has founded his own steel fabrication business in Rotherham after receiving £40,000 funding from UK Steel Enterprise (UKSE). Greg Marsland established PCF Works in May 2017 to satisfy demand for the services in the area, following the closure of a number of firms. Since opening the business, the number of […]

MORE

Factory fortunes swell with cheap pound

The cheap pound continues to raise the fortunes of Britain’s factories as export orders and prices increased once again in August, according to the latest CBI industrial trends survey. Of the 432 manufacturers surveyed, a balance of 13 per cent said total order books were better than normal and a balance of 11 per cent […]

MORE

ThinCats provides £2.4m loan to music academy

The Academy of Contemporary Music (ACM) has secured a funding package worth £2.4m from alternative lender ThinCats. The owner of the ACM will be using the funds to expand the business further following a surge in student numbers. Discussions are already underway to secure a third site to help the ACM double its student numbers. […]

MORE

Golf club to sell land earmarked for housing

Strathaven Golf Club has put 1.92 acres of land up for sale for the development of new homes. The South Lanarkshire-based golf club made the decision to sell the portion of land next to the first hole at its Glasgow Road site to help fund the relocation and modernisation of its current greenkeeper’s accommodation. The […]

MORE

A look at the new Dragons’ Den investors

With BBC’s 12-year old business show set to return to our screens on August 20, Business Advice takes a look at the backgrounds of the two new Dragons’ Den investors. It’s about to start its 15th series and has seen hundreds of entrepreneurs originating from all manner of backgrounds, building businesses of all shapes and sizes, […]

MORE