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Funds of £115 million which had been set aside by the Government to push the
new ‘Train to Gain’ programme have been now transferred to other budgets ..more |
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because of the lack of take up by small businesses. Skills Minister, John Denham
announced that these funds have been moved over to education and other
training schemes as the Government have not been successful in persuading
every employer of the importance of skills. In some areas, workplaces are still
not aware of these funds whereas other organisations simply do not train their
staff. Critcs of the programme have said the reason behind small businesses not
taking up the funds offered to them, may be because the Government has not
done enough to make businesses aware of the opportunity.
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Dragons Den judge and entrepreneur Peter Jones, who has been committed to promoting entrepreneurship amongst young people and works alongside ministers in creating the National Enterprise Academy. ..more |
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has now contributed £100,000 to the
Governments latest student initiative –
‘Make Your Mark With a Tenner.’ This
contribution, along with government
funding, will allow 50,000 students to run
‘real-life businesses.’ As part of the
scheme, each student is given £10 to
begin with and must then make as much
profit on their £10 in one month.results.
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The number of new mortgages being approved for house purchases in Britain has
dropped heavily for another month. The Bank of England said 42,000 homes were
approved in May, ..more |
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a 28 per cent fall compared with the previous month and 64 per cent
down on a year ago. This is the lowest since the Bank began reporting the figures in
1993 and lower than many analysts’ predictions. Mortgage lending has slumped owing
to the credit crunch with institutions reducing their willingness to lend. The number of
home loans approved have now fallen for 13 consecutive months, the bank’s figures
show. As a result of the increasingly uncertain house market, a change of attitude has
now been recorded by Bank of England research, showing a drop in the number of
mortgage approvals for homeowners who are remortgaging.
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The Prime Minister has drawn criticism over his decision to
reappoint Cynthia Carroll, chief executive of Anglo American, ..more |
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to his prestigious Business Council the week after the mining
company announced a controversial £200 million investment
in Zimbabwe. The Business Council was introduced by
Gordon Brown last Spring in the first days after he took
office. The council brings together business leaders who
meet at Downing Street to advise the Prime Minister on
enterprise and economic issues. Since forming the group he
has recruited some of the key names in British business,
from Sir Alan Sugar to Sir Richard Branson, to private equity
master Damon Buffini and BP chief Tony Hayward, to leading
retailers Sir Terry Leahy and Sir Stuart Rose.
The first chair saw Mervyn Davies, Chairman of Standard
Chartered, who spoke out against Alistair Darling’s
controversial moves on capital gains tax and non-doms. At
the most recent meeting yesterday the chairmanship passed
to Stephen Green, chair of HSBC.
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Figures released this month by the Office for National Statistics, show a steeper fall in British manufacturing than experts had
previously predicted. ..more |
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Output has declined by 0.5 percent on the
previous month - five times the level stated in analysts’ forecasts –
whilst, in industrial production consisting of utilities and mining,
there was a greater decrease of 0.8 percent. This is the largest
annual drop since December 2005 which Michael Hume, an analyst
at Lehman Brothers, suggests is due to a combination of producers
raising prices and export markets turning down.
This news will be of particular concern to the Monetary Policy
Committee who had hoped that the weakening of the pound against
the Euro would help the economic slowdown by making British
goods cheaper in the European market. This is also worrying for the
job market. As a report by accountancy firm, KPMG, describes,
demand for labour fell for the first time in five years last month. This
does not bode well for small businesses with Alan Nolan, a director
at KPMG, saying, “The credit crunch has finally taken its toll and is
now severely weakening the U.K. jobs market”.
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The soaring costs of fuel have gone so high that it has
affected the economy by slowing down growth and
employment. ..more |
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In the FSB survey of over 9,000 small
business owners, over 80 per cent claimed that furl costs
are likely to make it much more difficult for them to expand
their businesses and hire the staff they need. 40 per cent
said that due to fuel prices they would need to reduce staff
numbers in the next 12 months. Seeing that SMEs
contribute to half the UK’s GDP this has raised concern.
FSB National Chairman, John Wright claims that small
businesses seem to be reaching breaking point and if
something is not done about the fuel prices we may face
an economic crisis fairly soon. He added that the UK’s 4.5
millions-strong small business community simply cannot
cope with these rates and that it is a problem which effects
every type of business in every area in the country.
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This is the table that will appear when link #1 is clicked.
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This is the table that will appear when link #1 is clicked.
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