NEWS

The latest from Balance for Business

Carillion must be a catalyst for change

Stephen Jones, chief executive of UK Finance, says in City AM that the collapse of Carillion must be used as a catalyst for change on the SME finance scene. Although much has been done by banks to improve trust and confidence, more needs to be done, particularly on the “major challenge of late payments”, says Jones.   […]

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New system sees business rates appeals plummet

Appeals over business rates have fallen by more than 99% since a new system was introduced last year. Between April 1 2017, when the new system for appealing business rates was introduced, and December 31, just 1,210 valuations were challenged in England, a 99.3% fall compared to the same period after the last system change […]

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Unscrupulous banks have fuelled rise of alternative lenders

Can small business owners trust big banks? Since the 2008 crash, these high street institutions have been reprimanded time and again for a reluctance to lend to SMEs. Tens of thousands of businesses have gone to the wall over the last decade as a direct result.   Click here for full article Click here for related […]

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SMEs not stifled by regulation

Research from AXA reveals that red tape and regulation is failing to stifle growth for many of the nations’ small businesses. Of the 800 small firms interviewed by AXA for the study, 93% said regulation was neither burdensome nor costly for the day-to-day running of their businesses. Employment laws do not appear to be slowing down hiring […]

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SME confidence holds firm

Small business confidence has held firm for the fourth consecutive quarter according to the latest Business Barometer by Hitachi Capital Business Finance.  The new data suggests that small business outlook has remained bullish over the last 12 months, despite Brexit uncertainty. Overall, 39% of small business owners predict growth for the next three months – […]

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Post-Brexit confidence among businesses

A survey of British and European businesses suggests more than two thirds (66%) of companies in the UK, France, Germany and Spain expect an increase in turnover after Brexit, with just 12% predicting a decrease. Some 64% also said they expected to boost their employee numbers after the 29 March 2019Brexit deadline, according to the research […]

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Companies face VAT border costs in hard Brexit

The European Commission has warned UK exporters that a “hard” Brexit will mean VAT becomes payable upfront at the border and British importers would no longer be able to claim refunds for foreign tax using electronic systems.   Click here for full article Click here for related articles

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Publish or be damned, FCA told

Financial Conduct Authority CEO Andrew Bailey was warned yesterday that he faced damaging the regulator’s reputation if there were further delays in publishing the report into RBS’s mistreatment of small businesses. MPs said there was no time for the FCA to conduct legal checks before publishing – an unredacted copy of the report was already […]

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UK growth upgraded

New figures from the Niesr show Britain’s economy will grow by 1.9% this year and in 2019 as confidence in the Brexit negotiations improves in combination with a strong global economy. The figure is up on the previous forecast of 1.7%. Threats to the forecast include a breakdown in Brexit talks and trading under WTO […]

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Manufacturing outlook bright despite cooling growth

UK manufacturing growth suffered an unexpected dip in output last month, according to the latest IHS Markit/Cips survey. Activity came in at 55.3 for January, down from December’s reading of 56.2, with economists expecting a figure of 56.5. Any reading above 50 denotes growth. However, the report also revealed that output and new orders had […]

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