When the world goes to hell in a handcart, there’s two basic ways you can react. You can either run through the streets in a shrieking panic yelling ‘doom’ at everyone you meet or grit your teeth, buckle-up and get ready to meet the challenge head on – whichever you prefer.
In the most dramatic move in a generation, the Monetary Policy Committee has cut the cost of borrowing by 1.5 per cent. While this will restore the confidence of entrepreneurs, the Forum of Private Business (FPB) says banks must pass on the cut in full.
Sterling will hopefully strengthen in the weeks to come following the 1.5 per cent cut in interest rates, says FC Exchange managing director Nick Fullerton.
Lindsay Drabwell launched her organic babycare firm DaisychainBaby on Monday. Far from being worried about the recession, she thinks the current climate is ideal for her fledgling business.
Animated holographic technology developer View Holographics has received a £500,000 (€625,000) investment from Welsh business angel network Xenos, Finance Wales and the Welsh Assembly Government
Tony Deep doesn’t care if bank funding is drying up. His £108m-turnover wholesale business East End Foods is entirely self-financed.
The Monetary Policy Committee has cut interest rates by 150 basis points to 3 per cent.