New research has found that a 0.25 per cent hike in interest rates to 0.75 per cent would cost small UK business owners another £355m in interest payments in the first year alone. more»
The Bank of England has urged retailers to start preparing for the switch, offering guidance to ensure their business is ready. more»
Having introduced the new polymer £10 notes, depicting the face of author Jane Austen, in September, business owners have been given a deadline for which the old note will cease to be legal tender. more»
In its forecasts released earlier this month, the Bank of England anticipated two further rate increases of 0.25 per cent over the next few years. more»
The Bank of England has launched a new scheme to promote banknote checking at the point of sale at cash-handling businesses, via targeted staff training. more»
New notes and coins are being introduced to improve durability as well as security. They are more resistant to water, dirt and tearing, and crucially they include more sophisticated anti-counterfeiting measures. more»
Around 96,000 companies, or five per cent of all businesses, were currently just paying interest rates on their debts, caused predominantly by the increasing costs of running a business. more»
A study from new challenger bank Cambridge & Counties has found that too many small firms get a bum deal from their lender, and yet owners fail to shop around for higher interest rates. more»
Fintech is yet another example of great British startups and innovators not just leading the way, but also disrupting the natural order of things in financial services. more»
In recent weeks, small business owners in particular have reason to feel buoyant. The Bank of England’s decision to cut interest rates to 0.25 per cent should see benefits passed down to business owners in the form of cheaper loans. more»
