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Government considers national lending scheme

2008-12-31T00:00:01Z

A multi-billion pound funding packing, to encourage banks to start lending to small businesses, will be announced by the Government in January 2009.

]]> A multi-billion pound funding packing, to encourage banks to start lending to small businesses, will be announced by the Government in January 2009. Among the measures being considered by Chancellor Alistair Darling is the implementation of a national lending scheme, which would see the Government cover up to 80% of the risk on loans to small businesses.

For more on this story see:
http://www.timesonline.co.uk/tol/news/politics/

Brits step closer to 48-hour limit on working week

2008-12-30T00:00:01Z

Britain is now closer to having to cap the working week to 48 hours after Euro MPs voted to end its opt-out of the working time directive.

]]> Britain is now closer to having to cap the working week to 48 hours after Euro MPs voted to end its opt-out of the working time directive. However, Prime Minister Gordon Brown has expressed his opposition to removing the opt-out and said that the limit would be "bad for business". A final decision is expected early in 2009 and, if Britain is told to end its opt-out, the law will come into force by 2012.

For more on this story see:
http://news.bbc.co.uk/1/hi/uk_politics/7786825.stm

And:
http://uk.reuters.com/article/topNews/idUKTRE4BH5QZ20081218

Businesses warned against intellectual property crime complacency

2008-12-29T00:00:01Z

The Government has warned businesses they must implement effective measures to prevent intellectual property (IP) crime.

]]> The Government has warned businesses they must implement effective measures to prevent intellectual property (IP) crime. The call comes after research by the Intellectual Property Office's (IPO) IP Crime Group found that 40% of businesses took no measures to ensure their IP is protected, such as registering a trademark or training employees. It also revealed that a third of businesses did not know whether goods sold on their premises by external traders were legitimate or not. Ed Quilty, director of copyright and IP enforcement at the IPO, said: "Intellectual property is central to the UK economy and businesses of all sizes cannot afford to be complacent in respecting its value."

For more on this story see:
http://nds.coi.gov.uk/Content/Detail.asp?ReleaseID=387749&NewsAreaID=2

Microsoft issues security patch for Internet Explorer

2008-12-24T00:00:01Z

Microsoft has issued an emergency update for the security flaw that was discovered in Internet Explorer in December.

]]> Microsoft has issued an emergency update for the security flaw that was discovered in Internet Explorer in December. The problem was down to a flaw that tricked users into visiting infected websites that left computer users vulnerable to having their details, such as online banking information, stolen by cyber criminals. The patch is rated as 'critical' for those using Internet Explorer 5.01, 6 and 7.

To download the patch go to:
http://www.microsoft.com/technet/security/Bulletin/MS08-078.mspx

CBI calls for business rates freeze

2008-12-23T13:38:32Z

The Confederation of British Industry (CBI) has called on the Government to freeze business rates after it was announced that rates will rise by 5% in April 2009.

]]> The Confederation of British Industry (CBI) has called on the Government to freeze business rates after it was announced that rates will rise by 5% in April 2009. Dr Neil Bentley, the CBI's director of business environment policy, said: "This unnecessary jump in business rates will affect nearly every firm and struggling retailers will be particularly hard hit at a time when they need all the help we can give them."

For more on this story see:
http://www.cbi.org.uk

Government considers extending music copyright to 70 years

2008-12-22T00:00:01Z

The Government has announced it is considering extending the copyright term for sound recordings to 70 years.

]]> The Government has announced it is considering extending the copyright term for sound recordings to 70 years. Culture secretary Andy Burnham told delegates at the UK Music Creators Conference in London that he believes 70 years is a fair length of time for copyright protection on songs and recordings. The copyright term currently stands at 50 years, which means that recordings by artists such as Cliff Richard, the Beatles and the Rolling Stones are nearly due to lose copyright protection.

To read more on this story see:
http://www.musicweek.com

New Construction Act 'could damage small businesses'

2008-12-21T00:00:01Z

Construction industry leaders have expressed concern that the new Construction Act could damage small and medium businesses.

]]> Construction industry leaders have expressed concern that the new Construction Act could damage small and medium businesses. Representatives from the Specialist Engineering Contractors' (SEC) Group are due to hold talks with the construction minister regarding the Local Democracy, Economic Development and Construction Bill, which was announced during the Queen's Speech. It is designed to encourage prompt payments throughout construction supply chains, but SEC Group chief executive Rudi Klein has expressed concern at a clause in the Bill relating to payment notices, which could be damaging to small businesses. He said: "The Bill gives the payer the option of issuing the payee with a notice for a certain amount and then allows them to issue a second notice with a different amount."

Read more on this story at:
http://www.cnplus.co.uk

Agency Workers Directive 'must be implemented by 2011', says EU

2008-12-20T00:00:01Z

The European Union (EU) has announced that the Agency Workers Directive must be implemented in the UK by 5 December 2011.

]]> The European Union (EU) has announced that the Agency Workers Directive must be implemented in the UK by 5 December 2011. The announcement comes as the EU sets out the official wording of the directive, which will give temporary workers the same rights as permanent workers after a period of 12 weeks with an employer. However, UK employers have said they hope the Government does not bring the directive into force any earlier than the EU deadline. David Yeandle, head of employment policy at manufacturers' trade body EEF, said: "We are urging the Government to use the full three-year period...before implementing this directive in the UK."

For more on this story see:
http://www.personneltoday.com

Small businesses facing annual cost increases 'at double the rate of inflation'

2008-12-19T00:00:01Z

Small business inflation was 9.4%, double the UK's consumer inflation rate, during the third quarter of this year, according to recent figures.

]]> Small business inflation was 9.4%, double the UK's consumer inflation rate, during the third quarter of this year, according to recent figures. The Business Inflation Guide, produced by insurance firm More Th>n and Warwick Business School, measures the price of 20 essential goods and services for small firms. It found that inflation was highest among manufacturing businesses at 11.3% and stood at 9% for firms in the service sector. Mike Bowman, spokesperson for More Th>n, said: "The key message is that any small business should be looking at its cost base and reviewing everything that is essential."

For more on this story go to:
http://www.morethanbusiness.com

Mandelson launches prompt payment code for suppliers to small businesses

2008-12-18T00:00:01Z

Business secretary Lord Mandelson has launched a new Code of Practice designed to speed up payments to small businesses.

]]> Business secretary Lord Mandelson has launched a new Code of Practice designed to speed up payments to small businesses. The prompt payment code, which is voluntary and has been drawn up by the Department for Business, Enterprise and Regulatory Reform (BERR) and the Institute of Credit Management (ICM), aims to establish guidelines for payments between businesses, with the aim of making them quicker. Lord Mandelson said: "This will be essential to help smaller firms maintain cash flow in the months ahead. I want the maximum number of businesses to sign up to it."

To read more on this story see:
http://nds.coi.gov.uk/Content/Detail.asp?ReleaseID=387044&NewsAreaID=2

Banking industry pledges to help small businesses

2008-12-17T00:00:01Z

The banking industry has announced a series of guidelines it will follow in order to help entrepreneurs and small businesses.

]]> The banking industry has announced a series of guidelines it will follow in order to help entrepreneurs and small businesses. The British Bankers' Association (BBA) has released a revised Statement of Principles, which outlines how banks will help small businesses. The guidelines state that banks must be pro-active in contacting businesses they think may be in trouble, offer to discuss all concerns in person, use business assets before personal assets as security and help firms to revise their business plans and forecasts during the recession. Copies of the Statement of Principles can be downloaded from the BBA website (see below) and will be sent to all new and existing business customers in January 2009.

For more on this story see:
http://news.bbc.co.uk/1/hi/business/7779757.stm

To read the full BBA Statement go to:
http://www.bba.org.uk/bba/jsp/polopoly.jsp?d=145&a=15078

Pound plunges to new low against euro

2008-12-16T16:01:36Z

Sterling fell to a record low against the euro in early December, with one pound worth 1.1086 euros.

]]> Sterling fell to a record low against the euro in early December, with one pound worth 1.1086 euros. The pound has dropped 22% against the euro over the past twelve months but the Treasury has ruled out stepping in to save the pound. Yvette Cooper, chief secretary to the Treasury, told the BBC: "We've never had a policy targeting the pound. Our policy is to target inflation."

For more on this story see:
http://www.guardian.co.uk/business

And
http://www.guardian.co.uk/politics

HSE wants businesses to get involved in consultation

2008-12-15T00:00:01Z

The Health and Safety Executive (HSE) has launched a consultation about its new strategy which focuses on 'The Health and Safety of Great Britain'.

]]> The Health and Safety Executive (HSE) has launched a consultation about its new strategy which focuses on 'The Health and Safety of Great Britain'. The HSE says one of the reasons it has decided to draft a new strategy is due to the increase in the number of small businesses and people who are self-employed. It also claims the objective of the new strategy is to help small businesses comply with health and safety laws and is asking anyone involved in workplace health and safety, including employers, employees, professional bodies, the self-employed and Third Sector organisations, to get involved in the consultation. The deadline for responses is 2 March 2009.

Read more on this story at:
http://www.hse.gov.uk/strategy/strategy.htm

Access the strategy at:
http://www.hse.gov.uk/strategy/index.htm

HSBC to offer £1 billion extra funding to small businesses

2008-12-14T00:00:01Z

HSBC has promised to make an extra £1 billion worth of funding available to small businesses.

]]> HSBC has promised to make an extra £1 billion worth of funding available to small businesses. The bank has set up a £3.4 billion global working capital fund, which will be targeted at the UK and Hong Kong. The UK funding represents a 20% increase compared to last year. The promise of extra funding comes as the Government continues to criticise the big banks for failing to lend to small businesses. However, Paul Thurston, spokesman for HSBC, told the Times: "HSBC has already lent more to SMEs this year than last."

To read more on this story see:
http://business.timesonline.co.uk

Businesses must properly assess fire risks, says insurer

2008-12-13T00:00:01Z

Insurer Norwich Union is warning businesses to ensure they carry out fire risk assessments and review them frequently, or face prosecution for non-compliance.

]]> Insurer Norwich Union is warning businesses to ensure they carry out fire risk assessments and review them frequently, or face prosecution for non-compliance. The insurer found that more than a third of firms it surveyed failed to carry out a fire risk assessment, which is a requirement of the Regulatory Reform (Fire Safety) Order 2005. A spokesman for Norwich Union said "there has been an upturn in the number of prosecutions being brought by the fire and rescue services" and firms are "facing fines running into thousands of pounds".

For more on this story see:
http://www.aviva.com

For more on complying with the legislation see:
http://www.fire.gov.uk