(Reuters) – A British government scheme requiring banks to refer small firms rejected for loans to alternative finance providers should be up and running by next year, the managing director of the British Business Bank said.
Nine trade associations in the UK have been advised that they should merge into a single body to strengthen lobbying in Europe and slash membership costs, according to a Reuters report.
The Federation of Small Businesses (FSB) believes small firms could be missing out on cheaper finance as new figures shows around two thirds (61%) of firms haven’t heard of Funding for Lending (FLS).
HMRC officials have increased the UK’s National Minimum Wage (NMW) for adults and apprentices. The changes, effective from 1st October 2012, will see approximately one million of Britain’s lowest paid workers benefit from pay increases. The adult NMW has increased by 11p to £6.19 per hour, while the apprentice rate has increased by 9p to £2.65 per hour. The rates for 18-20 year olds and 16-17 year olds remain unchanged.