News

July 06, 2012 - imanuelv

Also in the news this week — 6 July 2012

UK SMEs are losing out on tax breaks

Recent research carried out by RSM Tenon reveals that one in three UK small firms could be missing out on thousands of pounds worth of Government money by ignoring valuable tax breaks. The Business Barometer — a quarterly survey of senior management in SMEs — found that 33% were unaware of any tax breaks that could benefit their company. Only one in ten said that they considered Research and Development (R&D) Tax Credits to be the most beneficial to their business and the Enterprise Investment Scheme (EIS) was the least popular tax break, with only 1% saying it was the biggest tax break for their company.

£10,000 of free business advice offered to London SMEs

A package of business advice and support worth £10,000 is on offer to London businesses looking to fund their growth ambitions. The British Library’s Business & IP Centre is looking for more than 100 small firms to join its Innovating For Growth scheme — a three-year initiative funded by the European Regional Development Fund that will be run from the British Library’s base in St Pancras, London. The programme offers three months of face-to-face support and workshops for businesses that have been trading for at least a year.

Regus to give young entrepreneurs free access to its business facilities

Regus is giving 30,000 young entrepreneurs in England access to its global network of business lounges and administrative support. Worth £20 million, the investment has been announced to support the Government’s StartUp Loans scheme, which provides mentoring support and around £2,500 to approved young people looking to set up a business. The offer includes free use of Regus business lounges; a business address; mail handling and call answering; and discounts on other products and services.

FSB calls for a moratorium on interest rate swap repayments

Following the FSA's ruling that Interest Rate Swap Agreements (IRSAs) were mis-sold to small businesses, the Federation of Small Businesses (FSB) is calling for an immediate suspension of repayments on these products — in addition to the moratorium imposed on the sale of these swaps already announced by the FSA. John Walker, FSB national chairman, said: "Suspending repayments immediately would relieve and possibly rescue small firms that have been burdened with huge bills — in most cases for years — and who in some cases are close to bankruptcy.”