Great News for Growing Businesses

In January 2013, the amount business owners will be able to write off as tax-deductible capital expenditure in the year of purchase will increase from £25,000 to £250,000. This is a massive boost and far more significant than the previous government’s attempt at encouraging investment amongst business owners. Back in April 2010 the relief was £100,000, which was also generous, but not perhaps quite large enough to enable a lot of companies to write off all their capital purchases in the first year.   This new limit however will achieve

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Is Daisy suffering from Indigestion?

Daisy is a shopaholic. In its brief history, the business telecoms group has bought 18 companies. This has come at a cost. Customer churn has meant the group is consistently in the red. It was a similar story this half, as losses accelerated due to mounting amortisation costs. Cash conversion improved, however, which should provide some relief for investors. Daisy’s shares currently trade on a forecast price/earnings ratio of 6.5, below the sector average and TalkTalk’s on 13.9. Unlike TalkTalk, though, Daisy does not pay a dividend, however, it has promised to

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Overdrafts for SMEs reined in as many admit to exceeding agreed limits

Most business would fold in less than three months without an overdraft despite the facility being reined in, ABN AMRO Commercial Finance says. Findings from its study reveal that 71 per cent of small and medium sized businesses SMEs have seen overdraft limits reduced by finance providers, while 86 per cent have seen overdraft fees rise. However, the statistics also show that 48 per cent rely heavily on the finance option to keep the business operating.   Some 89 per cent of respondents admit that their business would only last

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SMEs turn to credit cards and personal savings to balance the books

Small and medium sized business SMEs in the UK are increasingly turning to alternative forms of finance to fuel operations, with the use of credit cards growing. Personal savings and credit cards are becoming more common forms of SME capital, findings from Western Union show.  The money transfer services International Trade Monitor reveals that access to credit continues to be a worry for SMEs, with 30 per cent saying that its is a top concern. The research also finds that 21 per cent are turning away from banks and actively

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Ovum believes the Time for Enterprise Social Networking is now

The time has come to think seriously about enterprise social networking and consider its role within wider enterprise collaboration strategy, according to global analyst firm, Ovum. In a new report* the global analyst firm says the enterprise social networking market is starting to mature and is moving from the introduction phase into the growth phase. Strategic acquisitions have already been made by start-ups and establish vendors alike. Richard Edwards, Ovum analyst and author of the report, comments: “Ovum’s current assessment of the enterprise social networking market indicates that Jive and

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Could the cloud help Britain out of recession?

Cloud computing must remain at the centre of business strategies to combat the challenges associated with rising costs. SMEs often point to IT as a major capital expense in their businesses but it is possible to reduce the financial burden without cutting down on innovative technology. Investing in cloud computing technology – where software and hardware is pooled centrally and made available over the internet – will enable small and medium-sized businesses across the UK to reduce costs and enhance efficiencies. The Office for National Statistics released figures showing that

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Lack of bank lending could see surge of first time backers

Findings from online lending platform Funding Circle show that seven in ten people in Britain would be prepared to invest in UK companies. The survey from Funding Circle, a business which was set-up in August 2010 and has allowed businesses to borrow £40 million, shows that £72 billion could be injected into the UK economy. Breaking the statistics down further reveals that the average saver is prepared to invest £2,080 into businesses looking for finance. The study, compiled by OnePoll on behalf of Funding Circle, reveals that almost two thirds

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UK experiences drop in insolvencies in majority of regions

Findings from the latest Business Insolvency Index from Experian shows that every UK region besides the North East, East Midlands and Eastern posted a decrease in the number of business insolvencies in July. The biggest fall in England was recorded in the South East where 249 companies entered insolvency, a decrease of 19.4 per cent. Within the UK, Scotland has seen the sharpest improvement. The UK region, which traditionally has some of the lowest insolvency rates, saw 65 businesses fall away in July, a fall of 25.3 per cent over

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Bank reveals cheaper loan scheme | The Times

Details of a new scheme to help make £80 billion of loans more accessible and cheaper for households and businesses have been announced by Bank of England and the Treasury today. George Osborne, the Chancellor, and Sir Mervyn King, Bank of England Governor, first revealed the “funding for lending” scheme last month, under which the Bank of England will give banks cheap access to finance if they then lend in turn to cash-strapped businesses and home-buyers. via Bank reveals cheaper loan scheme | The Times.

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Six Degrees Group hits M&A trail again

Penta Capital has provided £8 million in new acquisition capital to Six Degrees Group, to coincide with the business undisclosed purchase of Cloud Computing Centre CCC.Six Degrees Group operates in the managed data services sector and was set up following the sale of Mills previous business, SpiriTel, to AIM-listed communications company Daisy Group for £27 million in November 2010.It was created by securing £60 million worth of funding and buying up data centre provider UKSolutions, technology business NetworkFlow and voice player Protel, all with help from Penta Capital.According to a

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