Measures in the Pre-Budget Report targeted towards the entrepreneurial community have been welcomed by many business commentators although some have questioned the lack of detail and the timescales involved.
Firms struggling to turn a profit in the current economic climate have been promised “real help” in the form of corporation tax savings and better access to credit by Chancellor Alistair Darling in the 2009 Pre-Budget Report.
Entrepreneurs aren’t immediately impressed by the cut in VAT
At 3:30pm, Chancellor Alistair Darling will deliver his second pre-budget report. Leaked details indicate the government will cut VAT, slap a higher tax on the wealthy, scrap claims on foreign dividends and announce a package of measures for small companies.
During times of recession, one business model soars while others plunge: franchising. No wonder Stelios has been plugging his easyOffice franchise, which rents out cheap office space to start-ups.
Sure, it’s important to respect terms and conditions. But you don’t need to follow them to the tee. “We train our staff to know when it’s okay to break or bend the rules,” comments Laura Tenison, the entrepreneur behindJoJoMamanBebe.
Asian entrepreneur Lord Karan Bilimoria has put Cobra, the beer company he founded 18 years ago, up for sale for an estimated £200m.
The government has confirmed VAT will drop from 17.5 per cent to 15 per cent as a means of stimulating the economy out of likely recession. But Rhodri Ferrier, co-founder of men’s natural grooming brand Bulldog, doesn’t think it’s going to make a difference.
Business tax cuts, a special lower-rate of National Insurance for small companies; postponement of planned rises in corporation tax. The CBI says urgent action is required to safeguard jobs and businesses. Here’s its ten-point plan.
Businesses across the UK are feeling the pinch of recession. Here are some top tips to reduce outgoings without losing staff or cutting corners.
Mandelson portrays himself as champion of Britain’s small business
Firms are being encouraged to stay in the UK with Alistair Darling’s announcement of an exemption for foreign dividends in this year’s Pre-Budget Report.