Here is this week’s news round-up for home business, micro business, sole-traders, freelancers, self-employed and any one who is interested in small business news from the United Kingdom and Ireland:
- More action needed to stimulate the economy: The Government has come under attack from the Federation of Small Businesses (FSB) once more for not doing enough to stimulate the economy.
- Are banks really behind the EFG?: The Government’s Enterprise Finance Guarantee (EFG) has received a mixed reception from the UK banks, as reports from the following small businesses show:
- Small businesses in the South West need protection as recession begins to bite: More than one in three small businesses in the South West of England are already experiencing the effects of recession, with a quarter seeing a decline in new business, according to PFA Research’s South West Business Pulse Survey.
- Business lobby group welcomes new £3 billion fund to boost lending to small businesses: The FPB is welcoming of a £3 billion fund to boost lending to small businesses. Following the Government’s decision in January 2009 to restructure its investment in the Royal Bank of Scotland (RBS) and NatWest, the bank has announced the fund, which will be split into 12 regional tranches of £250 million each.
- FSB: Delays new laws that could cost small businesses £800 million: The Government must delay passing new laws which could cost small businesses nearly £800 million a year, the Federation of Small Businesses (FSB) said.
- VAT cut having ‘no impact at all’: The vast majority of small businesses say the government’s VAT cut has failed to boost trade, according to a new poll.
- Firms risk being tricked into higher energy bills: Up to a million small businesses could see their energy bills nearly double this year when they come to renew their contracts, despite falling fuel prices
- Retirement put on hold as slump bites: Growing numbers of small business owners are set to delay retirement as a result of the dire economic climate.
- UK small businesses unhappy with state help: A survey of 4,000 enterprises shows that government support schemes have either flopped or failed to take effect, reflecting growing despondency at the scale of the economic decline
- Credit insurers mock government underwriting plan: Britain’s three biggest credit insurers are at loggerheads with Baroness Vadera, minister for small business, over her plans to overhaul the industry in the wake of the credit crunch.
As always this list is not exhaustive, but I hope it will give you a little overview. — ST.