economy

Increased Confidence in Business and Economy Among Freelancers

Increased Confidence in Business and Economy Among Freelancers

UK freelancers are optimistic about future prospects with business confidence for the next three months up 3.95 to 9.42 and rising from 0.6 to 7.19 over the next 12 months, according to the latest Freelancer Confidence Index published by the Association of Independent Professionals and the Self Employed (IPSE). The survey, which featured over 1,000 freelancers, revealed freelancers are also confident about the economy with confidence rising from 5.7 to 16.48 over the next quarter, and 4.75 to 18.05 over the coming year. This rise in confidence, which had slumped in the previous quarter, is believed to be a result of an increase in work volume and day rates as more self-employed individuals (38%) are reporting a growth in the volume of work accepted. Moreover, the survey found a record numb... »

7 Ways to raise £100,000

In today’s economy, is it possible to raise money? Below are a few options you could consider when looking to raise £100,000 for your business. Commercial lending, especially commercial and buy to let and bridging loans, is down 60% year on year compared to 2008. In fact all forms of commercial lending have seen a fall, except for invoice finance, which for many businesses has been a saving grace. Since 2008 the use of invoice finance has increased 20%, showing that lenders are still keen for this form of finance. In the current economic climate it can be difficult to raise finance for a business, yet it doesn’t stop the need for funding in order to start, grow or even sustain business activity. Option 1 – Family and friends This is typically one of the cheapest and most flexible ways to r... »

Double-Dip Avoided but Risks Remain

Results from the Quarter 1 2010 British Chambers of Commerce Economic Survey – published a day ahead of the MPC’s April rate setting decision – show that the UK’s upturn is still on course and the economy has not slipped back into recession. However, the recovery is weak and serious risks of a setback remain. Data from over 5,500 businesses show that the service sector’s performance is improving, with most indicators now positive and making gains on the previous quarter. The results in manufacturing are disappointing with too many key measures worsening, and several still in negative territory. Highlights from the Q1 QES include: Confidence, although weak by pre-recession standards, is firmly in positive territory confirming businesses’ resilience in the... »

The worst of the recession may be over...

Economy Showing Tentative Signs of Recovery

The worst of the recession may be over and the economy is showing signs of recovery, according to growing numbers of economists. Research from the Federation of Small Businesses (FSB) found that small firms are starting to see the signs of a ‘tentative’ recovery, including improved trade, increased confidence and better access to finance. The survey of more than 4,000 small firms revealed that trade had increased for 23% of them between April and June 2009. Just 16% said that trade had improved between December 2008 and February 2009. FSB spokesman, Marc Shoffman, said: “We don’t want people to overstretch themselves or get too excited, but there are signs that businesses are starting to recover and are looking to expand. Since the Enterprise Finance Guarantee Schem... »

Economy shows signs of recovery, says OECD

Economy shows signs of recovery, says OECD

Signs that the UK economy is no longer in decline have prompted the Organisation for Economic Co-operation and Development (OECD) to say that them worst of the recession may be over. The OECD’s leading indicators survey – which is driven by interest rates, business surveys and other financial markers – found that the UK economy progressed from being in a ‘strong slowdown’ to a ‘possible trough’ in March. “The overall message is that the economy might be bad, but it’s definitely not getting worse,” said OECD head of composite leading indicators, Gyorgy Gyomai. “We have seen small signs that the economy will return to its long-term potential. While we cannot know for sure whether this will eventually happen, the data for March... »

SMEs to the Rescue?

The Future of the Economy: SMEs to the Rescue?

Small Business News – 17th February 2009 All Party Parliamentary Group discusses UK Small Businesses in the 21st Century Doug Richard, entrepreneur and former ‘Dragon’ from Dragons’ Den, attended ACCA’s (the Association of Chartered Certified Accountants) All Party Parliamentary Small Business Group (APPSBG) recently to discuss the ‘future of small businesses in the UK in the 21st Century’. At the meeting, Mr Richard said SMEs can significantly help rescue the UK from its current recession. He argued that Britain must quickly become the entrepreneurial, innovative country it once was by encouraging self-employment. Doug Richard described the two recent ‘lost generations’ – people in late 40s and 50s who have lost their jobs and ma... »

Recession

Recession until end of 2009

The UK recession will be ‘deeper and longer’ than first predicted, according to the Confederation of British Industry (CBI). The CBI has revised its September economic forecast that the economy would grow by 0.3% next year, and has now predicted that it will instead contract by 1.7%. The business group has also forecast that the recession is likely to last until the end of 2009 and that unemployment will reach 2.9 million by 2010. CBI deputy director–general John Cridland said: “What is clear is that the short and shallow recession we had hoped for a matter of months ago is now likely to be deeper and longer lasting,” “Given the speed and force at which the downturn has hit the economy, we have reassessed and downgraded our expectations for UK economic g... »

Innovation: What our Economy Needs

Innovation: What our Economy Needs

Innovation is key to unlocking talent, boosting productivity and making the UK economy a world leader in ideas according to a recent white paper. After Lord Sainsbury’s Review of Government’s Science and Innovation Policies in October last year, we have a white paper published by the Department for Innovation, Universities and Skills (DIUS) urging for investment in innovation (the successful exploitation of new ideas). The white paper entitled Innovation Nation (PDF – 923k) sets out UK Government intentions to make the country the best place in the world to set-up and run an innovative business or service and argues that innovation is key to Britain’s prosperity and ability to tackle major issues such as climate change. A key point in the white paper is that innovat... »