The Confederation of British Industry has forecast an improvement of the economy for the last six months of 2012. The growth forecast for 2012 by the CBI was reduced from 0.9 percent to 0.6 percent as the first quarter of 2012 saw the economy fall back into recession. However, the business group, which is a representative of more than 240,000 companies in the UK, believe that (more…)

According to the Centre for Economics and Business Research, bank holidays cost the UK economy £19 billion a year, with each individual bank holiday costing the economy £2.3 billion. The CEBR believe that the close proximity of some bank holidays reduces momentum of businesses and ultimately a reduction in output. (more…)

Retailers with an online presence are outperforming high street stores which rely on footfall, according to a recent survey by BDO, an accountancy and business advisory company. The new BDO report uses data from the published accounts of the largest companies in the Top 150 for Yorkshire to produce a report of the region’s economic health. The Yorkshire Report 2012 is based on revenue of companies. (more…)

A recent announcement by the Business Secretary states that the National Minimum Wage for adults aged 21 years and over is to increase by 11p per hour from 1st October 2012. The increase will push the adult minimum wage to £6.19 per hour. However, rates for youths aged between 16 and 20 years old will remain at their current rate. Apprentices will be given 5p per hour, raising the hourly rate to £2.65. (more…)

According to recently released research, the cost of anti-social behaviour and criminal damage to UK businesses amounts to an overwhelming £9.8 billion per annum. The issue continues to cost businesses huge amounts of money every year as the problem escalates. (more…)

A new report produced by Regus reveals an increased number of Small and Medium Enterprise are looking to a flexible workforce as the UK economy remains unstable. UK SMEs are planning to hire freelancers and remote workers in an attempt to increase the workforce while (more…)

Businesses which have notified HM Revenue & Customs that they need to register for VAT must do so before 31st December 2011. The deadline for notifications was 30th September 2011, and companies then had to register with HMRC. The deadline is fast approaching, with less than one month left in order to avoid a penalty. (more…)

According to a recent survey, businesses across the UK are failing to maximise opportunities for their business as they don’t have the financial knowledge required. The survey carried out by Intuit, a financial management company shows that a large number of UK entrepreneurs don’t understand the (more…)

A recent survey carried out by Hiscox insurance company, reveals that 30 percent of Small and Medium Enterprises are willing to take risks and only take out minimum insurance cover. SMEs told the insurance company that they only take out minimum insurance against employers’ liability, transport and property. (more…)

Workers who have a temporary place of work have traditionally been able to claim travelling expenses from home to their temporary place of work. Claims for the previous six years have also been claimed for, resulting in a payable order being issued for the whole amount. However, from the 1st of February 2012, taxpayers will no longer be able to claim for expenses or repayment of overpaid tax for (more…)