Workers’ rights fines will harm growth and jobs, small businesses warn Politics The government risks “reversing economic growth” and disincentivising hiring if it pursues plans to issue “punitive” fines to businesses that breach its workers’ rights plan, industry leaders have warned. Businesses face paying thousands of pounds in fines if they fall foul of the new protections that Labour are hoping to introduce, it was revealed on [...]
‘Engine of the UK’s economy’: Mid-sized firms set to ramp up investment in boost to growth economy More than half of the UK's mid-sized firms plan to invest at least £3m in the next five years.
Labour promises to ‘stamp down’ on late payments in SME policy package Race for No. 10 Late payments have been a major hindrance to small businesses, often contributing to cash flow problems and forcing firms to divert resources to chasing unpaid bills.
Government to fully fund apprenticeships for small firms, Rishi Sunak to announce March 18, 2024 The government will fully fund apprenticeships for small and medium sized enterprises (SMEs) with a £60m investment in up to 20,000 training places, Rishi Sunak will announce.
Lending to small and mid-sized firms drops for third straight year as banks pull back March 13, 2024 Lending to small and medium-sized enterprises (SMEs) dropped for a third straight year in 2023, according to new data, as businesses ditch big banks for specialist lenders.
Spring Budget 2024: Hunt to extend Covid recovery loans by two years March 5, 2024 The government will reportedly extend a Covid recovery loan programme by two years in a boon to Britain’s small businesses.
Spring Budget 2024: What are business groups lobbying for? February 29, 2024 Firms up and down the UK are waiting in anticipation for Jeremy Hunt and the Treasury to reveal the contents of next week’s Spring Budget.
‘High Court or the high road’: MPs say future of banking dispute resolution is ‘uncertain’ for SMEs January 23, 2024 MPs have flagged potential "gaps" left behind for the Financial Ombudsman Service (FOS) to fill when the British Business Resolution Service (BBRS) compensation scheme closes.
Cynergy Bank chief urges struggling SMEs to ‘de-risk’ current accounts January 18, 2024 The boss of challenger Cynergy Bank has said small firms are letting too much money languish in no-interest current accounts, as it launches a new offering that puts it in more direct competition with Britain’s major lenders. Chief executive Nick Fahy told City A.M. that small and medium-sized enterprises (SMEs) are increasingly struggling to afford [...]
Sadiq Khan: London mayor criticised for failing to pay small businesses on time December 22, 2023 Sadiq Khan has been criticised for failing to hit a City Hall target to pay 90 per cent of small businesses’ invoices on time.