May
24 Business investment rises 6% in first quarter 2010
Figures from the Office for National Statistics show that business
investment for the first quarter 2010 is up 6% over the previous
quarter. Whilst this is good news, the figure is still 11% lower than
the same period last year. So we won’t get too carried away!
The 6% rise indicates an increase in business confidence, albeit small,
and backs up our view that business
lending is now becoming more available. The business friendly
measures announced by the Government recently should further increase
business confidence and continue the growth in business investment.
Hopefully the forthcoming budget will cement the pro-business view of
the government and continue the rise in confidence and investment.
Is your business looking to invest? Say Yes to a business loan from Yes
Business Loans. All types of businesses catered for and competitive
rates and terms can be obtained for the majority of loan requests put to
us.
Categories:
Business
,
Economy
,
Financial
Permalink
May
19 Business awaits first coalition budget
The newly formed independent Office for Budget Responsibility will in
future publish economic and fiscal forecasts in advance of the budget,
rather than the government. These won’t be binding upon the Chancellor
of the day but will be difficult to ignore politically.
The “emergency budget” of the new coalition government will take place
on Tuesday 22nd June. In advance of this the government is expected to
reveal how it will save £6bn this year in spending cuts.
Critics argue that cuts should be delayed due to the fragile nature of
the economic recovery so far. However the Government looks set to press
ahead straight away to reduce the colossal deficit of around £166bn.
Many economists are predicting a rise in VAT from the current 17.5%.
This could rise as high as 20%, although the increase may be delayed for
retailers to cope with the complicated changes needed to their
infrastructure. A 20% rate of VAT could raise as much as £11.5bn a year
for the Treasury.
There is also expected to be news on Capital Gains Tax (CGT) with some
form of rise in the offing. Full details are not yet known although the
rate for business assets is likely to stay lower than for personal
assets, protecting perceived entrepreneurship.
Categories:
Business
,
Economy
,
Financial
Permalink
May
17 Affordable business loans available now
The new coalition government have declared that supporting the growth of
small businesses should be a core priority. In addition, the appointment
of Vince Cable as Secretary of State for Business, Innovation and Skills
has been welcomed by a number of business organisations including the
FSB and British Chambers of Commerce.
Ensuring the flow of credit to business will be key in getting business
moving again and kick-starting the recovery, as will government moves to
reverse the proposed National Insurance rise and increase tax thresholds
for low earners.
Whilst many businesses have been struggling to obtain a loan through
traditional high street lenders, Yes
Business Loans continues to lend to all types of business for any
circumstance. Our position as brokers leaves us ideally placed to
service business loans with a number of lenders to choose from.
Reversing the recent decline in business
lending will take time for the new Government but in the meantime
Yes Business Loans are open for business. We welcome all enquiries so if
you are a business looking for any type of funding please get in touch.
Categories:
Business
,
Economy
Permalink
May
14 Election result bad for business?
A hung parliament and no sign of a strong government emerging in the
near future is a cause for concern for many businesses. The pound,
weakened as a result of the election result, is the biggest worry for
many business owners.
Lack of action on the deficit could also cause markets to lose faith in
the economy and put the UK’s credit rating under pressure, making it
more difficult to obtain business loans at a sensible rate. This in turn
would put pressure on investment and jobs.
Whilst it had looked likely that a Conservative/Lib Dem coalition was on
the cards, the option favoured by many businesses, it has also emerged
that the Lib Dems have been having secret talks with senior Labour Party
figures. We hope for a swift resolution so that whoever is in power can
start tackling the economic problems as soon as possible.
Categories:
Business
,
Economy
Permalink
May
10 One million more self employed workers during recession
Nearly one in four of all self-employed workers have been their own boss
for less than two years, according to research carried out on behalf of
Kensington.
The survey found that 24% of people self-employed have been so for less
than two years. The research also found there are 5 million
self-employed workers in the UK, this means that 1.2 million people have
started working for themselves since March 2008, during which period the
UK economy contracted for six consecutive quarters.
Categories:
Business
,
Economy
Permalink
May
05 Average house prices predicted to rise 5% during 2010
UK average house prices will grow to be 5 per cent higher at the end of
2010 than at the beginning despite the sluggish start to the year. The
average mortgage rate is likely to fall from a current APR of around 4%
to about 3% by Q1 2011, say cebr.
This is a key finding from the latest Consumer and Housing prospects
report published by the centre for economics and business research
(cebr) – one of the country's economics consultancies and respected
commentators on the UK housing market.
Due to the sluggish growth, cebr also forecasts that base rates will
average 0.5% over the next 18 months and will only rise slowly
thereafter.
Categories:
Economy
Permalink
