Small and medium-sized enterprises (SMEs) are struggling to access finance and working capital, according to a report published by the Association of Chartered Certified Accountants (ACCA). The ACCA’s data showed that small firms are struggling to access finance for a range of reasons, including rising interest rates. 57% of firms reported that borrowing in order… Read more…
The National Living Wage (NLW) will rise to at least £11 an hour from April 2024, Chancellor Jeremy Hunt has confirmed. The Chancellor confirmed the increase in a speech to the Conservative Party conference and said the rise will benefit two million low paid workers. People aged 23 and over are eligible for the NLW.… Read more…
The UK’s base rate of interest was held at 5.25% in September as the rate of inflation fell to 6.7% in the year to August 2023. The fall in the rate of inflation surprised economists, who expected it to rise. The Consumer Prices Index (CPI) fell from 6.8% in July to 6.7% in August. Slowing… Read more…
Small firms will look to the upcoming Autumn Statement for signs that the government understands their operating concerns, says the Federation of Small Businesses (FSB). The business group said that UK businesses need urgent action to help stem the issue of late payment. It says that large corporates use late payments to offset interest rate… Read more…
We are delighted to have had Entrepreneur First Magazine write the below article on Dr. Anjulika Salhan. REGARDING SYSTEM HOLDINGS System Holdings is a design-focused company that creates solutions for people. The company home in on the problems and barriers that prevent individuals from moving to the next level and leverages cutting-edge and emerging technologies such… Read more…
When running a business, particularly a small business, growth is important. It’s only with sustained growth that small start-ups can become fully fledged, successful business. This may seem straightforward but how do we measure growth? After all, every business is different and each will have their own definition of success. This is where key performance… Read more…
The UK’s annual inflation rate fell to 6.8% in July, down from 7.9% in June, according to the latest data from the Office of National Statistics (ONS). It is the smallest increase in the cost of living since February 2022. A fall in gas and electricity, as well as a slowing down in the increase… Read more…
The UK is set for five years of lost economic growth, according to research from think tank the National Institute for Economic and Social Research (NIESR). The NIESR said the series of shocks from Brexit, Covid and Russia’s invasion of Ukraine had badly affected the economy. It added that the spending power of workers in… Read more…
More than a third of English households will see higher energy bills this winter than they did last winter, according to research published by the Resolution Foundation. Almost half of those hit by the higher bills will be in the poorest tenth of households, the report said. Ofgem is expected to announce a reduction in… Read more…
HMRC should increase the rewards it pays out to whistleblowers in line with the US system, according to law firm RPC. The tax authority paid out over £509,000 to individuals providing evidence about tax fraud over the past year, RPC’s research found. That figure is up from £495,000 in 2021/22 and a 75% increase from… Read more…
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