Chancellor of the Exchequer, Jeremy Hunt, has set out his plans for the economy in his Autumn Statement, presented to the House of Commons on Wednesday 22nd November. Addressing the House of Commons, the Chancellor outlined proposals to grow the economy through boosts to productivity, and to … [Read more...]
News for: General Business
National Living Wage to rise to £11.44 in April 2024
The National Living Wage will rise by 9.8% in April 2024 to £11.44 per hour for workers aged 21 and over, up from its current level of £10.42. The uplift will be the largest single increase in the statutory minimum rate of pay since its inception. Following the publication of the Low Pay … [Read more...]
October saw inflation fall to 4.6%
The rate of inflation has fallen to less than half the rate seen at the start of 2023 according to the the Office of National Statistics' (ONS) headline measure of inflation, the Consumer Price Index (CPI). The latest CPI data shows inflation having fallen 2.1 percentage points to 4.6%, down from … [Read more...]
One in five SME owners planning to sell by 2025, finds Handelsbanken study
A study conducted for Handelsbanken Wealth & Asset Management has found that one in five SME business owners plan to sell all or part of their business within the next two years. The survey also found a further 11% will seek to downsize during the same period. Of those considering sale or … [Read more...]
Bank of England keeps interest rates at 5.25%
The Bank of England’s Monetary Policy Committee met on 21st September and opted to hold interest rates at 5.25% following a surprise fall in inflation. Economists at the bank voted 5-4 in favour of holding the rate at 5.25%, with those opposing the decision calling for a 0.25 percentage point … [Read more...]
Citation acquires cloud-based care sector compliance specialist
Wilmslow-based health and safety consultancy, The Citation Group, have acquired a Shropshire-based specialist in cloud-based compliance solutions for the care sector. The deal is The Citation Group's fifth acquisition in 2023, and its seventh in the last 12 months, which include the recent … [Read more...]
Inflation fell to 6.7% in August
Inflation fell by a tenth of a percentage point to 6.7% in August, according to the latest Consumer Price Index (CPI) data from the Office of National Statistics (ONS). The latest decline, from 6.8% in July, brings inflation to lowest level in 16 months. The main contributing factors to August’s … [Read more...]
Start Up Loans hits £1 billion milestone of support for UK small businesses
The government-backed Start Up Loans scheme, part of the British Business Bank, has delivered more than £1 billion worth of loans to small businesses nationwide since launching in 2012. In the North-west, businesses in the region have secured almost £122 million in 13,020 loans, with an average … [Read more...]
North West business activity fell in August, finds NatWest business survey
Business activity levels across the North West fell for the first time in seven months in August, according to the latest Regional PMI survey by high street bank NatWest. The headline North West PMI Business Activity Index – a seasonally adjusted index that measures the month-on-month change in … [Read more...]
Consultations launch on plans to ensure clear pricing to consumers
The Department for Business and Trade (DBT) is launching a number of consultations on proposed measures to boost transparency and fairness to consumers, particularly over pricing. Among the consultations being launched, the government is considering stronger measures to tackle ‘drip pricing’ … [Read more...]
Limited companies urged to file accounts ahead of September deadline
Limited companies due to file accounts with Companies House by the end of September are being urged to allow plenty of time before the deadline. All limited companies, including dormant companies that are not trading, must deliver annual accounts to Companies House each year. Even if an … [Read more...]
Interest rates rise to 5.25%
The Bank of England has raised its base interest rates to 5.25%, their highest level in 15 years as it continues to respond to high inflation. The latest 0.25 percentage point rise represents the fourteenth consecutive decision by the Bank’s Monetary Policy Committee to increase the base rate of … [Read more...]