Breaking Flooring News
Breaking flooring news – flooring industry news as it happens each and every day.
Long-Term Investors Rewarded For Patience
People who stayed invested and kept saving during the financial crisis of 2008 could now be seeing a return of 89%, according to research. Aegon calculated that £100,000 invested in a mixture of equities, gilts, cash and bonds before the…
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Show News
OCEAN MEDIA GROUP BUYS THE FLOORING SHOW
The Flooring Show, the UK’s national flooring event, which marked its 55th edition this year, has been purchased by Ocean Media Group, a leading provider of exhibitions, events, awards and specialist publications. Owned and organised by Wendy Adams for the…
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Flooring News
Floorswitch APP to revolutionise the way the world sees floors
The ‘imagination gap’, the point between a sample request and a loss of custom, currently costs the UK flooring industry an estimated £60 million per year. FloorSwitch is set to solve this problem with their revolutionary augmented reality flooring application.…
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Flooring News
French Competition Authority fines three leading PVC and Linoleum manufacturers €302 million over price fixing accusation
Acting on information submitted by the Directorate General for Competition Policy, Consumer Affairs and Fraud Control (DGCCRF), the Autorité started proceedings ex-officio and, in 2013, conducted dawn raids in the floor coverings industry. The Autorité today published a decision sanctioning the three leading…
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Industrial News
Instarmac are proud to announce the acquisition of Aztec Aerosols
Instarmac Group plc is a privately owned company established in 1977 whose primary activity is manufacturing. It has developed an excellent reputation for innovation, exceptional levels of customer support, manufacturing skills and people development. Operating within the construction and building…
Read More » Firms ‘Unprepared’ For Post-Brexit Labour Market
Almost half of businesses (47%) have unrealistic expectations on the post-Brexit immigration system, according to a study. The Resolution Foundation surveyed 503 companies who employ EU workers and found only 17% expect no change to the current immigration system, while…
Read More »UK Tax Gap Falls In 2014/15
The UK tax gap between the amount of tax due and that actually collected fell to 6.5% in 2014/15, according to figures by HMRC. The tax gap was 8.3% in 2005/06. The government points to the introduction of real time…
Read More »Technical Training Conference And Trade Show
Product Specific Training from 40+ Manufacturers in one place The National Academy of Floor Covering Training (NAFCT) is inviting Floor Industry Professionals to attend the first annual Technical Training Conference and Trade Show. Installers, Retailers, General Contractors, Inspectors, Claims Professionals and anyone involved…
Read More »Lanes Group achieves RoSPA Gold for seventh year in a row
Lanes Group has achieved its seventh consecutive Gold Award in the RoSPA Occupational Health and Safety Awards 2016. The accolade qualifies the Leeds-based company, the UK’s largest independent specialist drainage and structure maintenance solutions provider, to retain its Gold Medal…
Read More »Job Costs Add Up To £91 Billion A Year
Workers spend a total of £91 billion a year on costs related to their jobs, according to research from Santander. Expenses such as commuting, clothes, childcare and equipment cost add up to an average £3,405 per year for full-time…
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Breaking Flooring News
Lone Star Funds signs agreement to acquire Balta Group
Lone Star Funds, a global private equity firm, have signed a definitive agreement to acquire Balta Group, the leading European carpets and rugs manufacturer, from Doughty Hanson, a European private equity firm, Filip Balcaen and Management for an undisclosed sum.…
Read More » Government Curbs Holiday Pay Ruling
Employers may see the potential costs caused by the November 2014 holiday pay ruling reduced after the government announced measures to limit employees’ ability to claim backdated holiday pay. The government has submitted draft regulations that would mean employers are…
Read More »Errors Found In A Third Of Credit Reports
More than a third of people who have checked their credit report in the last 2 years have found errors, research by uSwitch has found. A credit report summarises a person’s financial history and is used by credit providers to…
Read More »Small Firms Predict 2015 Growth
Almost two thirds of small businesses are predicting business growth in 2015, according to a survey by the Federation of Small Businesses (FSB). The FSB members’ survey found that 62% of respondents are optimistic that their business will grow over…
Read More »Pensioner Bonds Interest Rates Announced
The interest rate on National Savings and Investments pensioner bonds has been announced by the government. The 1-year bond will pay an annual interest rate of 2.8% and the 3-year bond will pay 4%. Important information: people aged 65 and…
Read More »Small Firms Suffer From Poor Payment Practices
Almost 1 in 5 small businesses have suffered from poor payment practices during the past 2 years, research by the Federation of Small Businesses (FSB). The survey of 2,500 FSB member businesses found that 17% have faced various forms of…
Read More »Auto Enrolment Hits 5 Million Milestone
The number of employees automatically enrolled into a workplace pension scheme has reached 5 million, according to the Pensions Regulator. The figures show that more than 42,700 employers have enrolled their employees into a workplace scheme since auto enrolment was…
Read More »Employees Unaware Of Workplace Benefits
Almost 1 in 7 workers are unaware of the workplace benefit packages offered by their employers, according to research conducted by Friends Life and YouGov. The survey of more than 12,200 employees found that almost 15% didn’t know what pensions…
Read More »Businesses Fail To Act On Employee Wellbeing
Three quarters of employers believe that unhealthy employees pose a business risk, yet 1 in 3 do not provide workplace health support, research by Bupa has found. The healthcare specialists surveyed almost 1,800 employers and more than 17,000 workers across…
Read More »Durability Of Pension Reforms Questioned
The government’s flagship pension policies may not survive a change of government, according to a survey of financial advisers by investment platform provider AJ Bell. The Chancellor’s 2014 Budget pensions freedoms, which will eliminate the requirement for pension savers to…
Read More »New Stamp Duty Regime In Force
As outlined in the Chancellor George Osborne’s 2014 Autumn Statement, major changes to the way stamp duty land tax (SDLT) is charged on residential property purchases in England and Wales are now in effect. From 00:00 on Thursday 4 December…
Read More »Autumn Statement 2014: Expectations
The Chancellor George Osborne will deliver the final Autumn Statement of this parliament early this afternoon. We look at what certain interested parties are calling for or expecting from the Chancellor’s speech. Here’s a round-up of 5 hot topics of…
Read More »SME Manufacturers Plan Investment
Almost three quarters of SME manufacturers are planning to invest in technology, premises or machinery in the next 6 months, a report by the Manufacturing Advisory Service (MAS) has found. The survey of more than 850 SME manufacturers found that…
Read More »Shared Parental Leave Comes Into Effect
New Shared Parental Leave regulations have come into effect, allowing parents more flexibility in how they look after their child during the first year after birth. The rules will allow couples with babies born or adopted from April 2015 to…
Read More »Employees Reluctant To Ask About Flexible Working
More than a third of employees are hesitant to ask their employers about flexible working options, a YouGov survey commissioned by the Confederation of British Industry (CBI) has found. The poll of almost 1300 workers revealed that 42% are reluctant…
Read More »Employers Urged To Combat Skills Shortage
Employers should take the lead in tackling workplace skills shortages, according to a report from the UK Commission for Employment and Skills (UKCES). The Growth Through People report urges employers to take initiative in developing the skills of the UK…
Read More »Boost Sharing Economy With Tax Cuts, Says IoD
Individuals should be able to earn up to £10,000 a year tax-free by sharing their time or resources, the Institute of Directors (IoD) has said. The IoD has recommended that the government should extend the principle of the Rent a…
Read More »Majority Of Micro Businesses Are Home Based
More than 8 out of 10 micro businesses are based in the home, according to research by Lloyds Bank Insurance. The report found that 84% of micro business owners have decided to base their business at their house, while more…
Read More »Gender Pay Gap At Record Low
The average pay gap between men and women has shrunk to its lowest figure since comparative records began in 1997, official figures reveal. Data released by the Office for National Statistics (ONS) shows the gender pay gap was 9.4% in…
Read More »SMEs Confident About Growth Prospects
Small and medium-sized businesses (SMEs) are predicting strong growth in turnover during the next 5 years, according to a survey by Santander. The survey of 500 business owners found that SMEs with annual turnover of up to £20 million are…
Read More »Small Firms Lack Savings Accounts
Less than a third of small and micro-sized businesses put money into a business savings account, research by Aldermore has found. The SME bank surveyed more than 1,000 firms and found that 31% have a savings account. Firms were asked…
Read More »Auto-Enrolment Closes Pensions Gender Gap
The gap between the number of men and women saving the minimum amount for a comfortable retirement has closed in the last 12 months, a survey by Scottish Widows has revealed. Scottish Widows calculates the minimum amount of yearly savings…
Read More »Employers Generous With Auto-Enrolment Contributions
Employers are contributing more to employee pension pots than is legally required under auto-enrolment, research by the Chartered Institute of Personnel and Development (CIPD) has found. The survey of more than 1,000 employers found that the average employer contribution rate is…
Read More »Pension Lump Sum Tax Implications Not Understood
Thousands of people could be pushed into the higher rate tax bracket if they take advantage of the new pension freedoms from April 2015, research by MGM Advantage has found. Next year, members of defined contribution pension schemes will be…
Read More »Local Authorities Want To Set Business Rates
Local councils should have the power to set business rates, the Local Government Association (LGA) has told the Chancellor. The LGA, which represents local authorities across the country, is calling on the government to allow councils to set their own…
Read More »Financial Taboos Revealed
Almost half of people think that finances are a personal matter that should not be talked about, a study from Legal & General has revealed. Researchers found that 46% of people prefer not to discuss their finances even though money…
Read More »Small Firms Fuel Economic Growth
More than a third of economic growth in 2013 was created by fast growing small firms, a report by Octopus Investments and the Centre for Economic and Business Research (Cebr) has found. The study found that high growth small businesses…
Read More »Pension Reforms Questioned By Industry Body
The government’s pension reforms still raise many “questions and uncertainties”, the National Association of Pension Funds (NAPF) has said. The industry body submitted 101 questions to the government in response to the Pension Schemes Bill – the legislation that will…
Read More »EU Regulation Cuts Benefit SMEs
British businesses have saved more than £200 million during the first year of a government campaign to reduce EU regulations, the Department for Business, Innovation and Skills (BIS) has announced. Last year, the government’s EU taskforce issued a list of…
Read More »Small Firms Lack Employers Liability Insurance
More than half of small businesses do not have employers’ liability cover, a survey by AXA Business Insurance has found. The survey found that, out of the 365 small businesses surveyed, 53% were either unaware of employers’ liability cover or…
Read More »Majority Look Forward To Retirement
More than half of people aged 50-70 are excited about their plans for retirement, according to a survey by Skipton Building Society. 28% of people surveyed said they were indifferent about the thought of retirement and 9% were not looking…
Read More »Tribunal Says Holiday Pay Should Include Overtime
Thousands of businesses are facing additional costs after a tribunal ruled that overtime should be included in holiday pay calculations. The Employment Appeal Tribunal ruled that employers must factor in overtime when calculating holiday pay, instead of only taking basic…
Read More »Retirees Support Families Financially
More than a quarter of retirees have given financial support to members of their family, research by LV= has found. The survey of more than 2,000 retirees found that 28% had given money to their family. The research found: 39%…
Read More »Self-Employed Pension Saving Falls
Less than a quarter of self-employed men are saving money for retirement into a personal pension, official figures show. Pension data published by the Office for National Statistics (ONS) revealed that just 22% of self-employed men put money into a…
Read More »Employment Costs For Small Firms Revealed
Small businesses pay an average of £35,500 to hire their first employee, according to research by the Centre for Economic and Business Research (Cebr) and the Federation of Small Businesses (FSB). In comparison, businesses with 20-49 employees face a bill…
Read More »Committee To Examine Prompt Payment Code
Businesses and the public sector will lead a new advisory board designed to strengthen the Prompt Payment Code (PPC), the government has announced. The PPC is a government-backed scheme aimed at prompting businesses to pay their suppliers on time and…
Read More »Consumers Face Retirement Uncertainty
Consumers lack confidence in their long-term savings and investments, research by Which? has found. The consumer group surveyed more than 2,200 people and found that just 19% trust long-term financial products such pensions and investments. The survey found: 57% of…
Read More »SMEs Warned About Cyber Threats
Small and medium-sized businesses (SMEs) should do more to protect themselves against online fraud and IT security risks, a panel of experts has said. Experts from government and industry have created a simple action plan for SMEs as part of…
Read More »Short Service Pension Refunds To Be Abolished
People who change jobs regularly will no longer have to cash in or move their workplace pension, under new government proposals. Currently members of workplace defined contribution (DC) pension schemes are able to cash in their contributions if they have…
Read More »Small Firms Want Auto-Enrolment Delay
More than 9 out of 10 employers who have not yet started automatically enrolling employees into a workplace pension would like to delay until the government has confirmed final details of the upcoming pension reforms. Employers must start enrolling eligible…
Read More »Pension Charge Cap Confirmed
Pension charges will be capped at 0.75% per year from April 2015, the Department for Work and Pensions has confirmed. Under the plans first announced in March 2014, the cap will be on all charges to manage and invest the…
Read More »Small Firms Want Auto-Enrolment Delay
More than 9 out of 10 employers who have not yet started automatically enrolling employees into a workplace pension would like to delay until the government has confirmed final details of the upcoming pension reforms. Employers must start enrolling eligible…
Read More »SME Owners Not Identifying As Entrepreneurs
Small business owners are unlikely to consider themselves entrepreneurs, research by AXA has found. Less than half of individuals questioned identified with the title ‘entrepreneur’ and a similar number rejected the label altogether. However, the research found differences between age,…
Read More »Savings Fall Between Spring And Summer
The amount people saved each month fell between spring and summer 2014, both as a percentage of monthly income and in terms of value, according to National Savings and Investments (NS&I). NS&I’s latest quarterly survey of saving habits found that…
Read More »Funding For SME Business Advice
Small businesses will be able to get funding for advice from business schools under a project run by the Small Business Charter. The Growth Voucher scheme allows businesses to apply for a voucher to match funding of up to £2,000…
Read More »Switch Guarantee Popular With Consumers
There has been a 22% increase on the number of bank account switches since the Current Account Switch Service was introduced in September 2013, according to figures from the Payments Council. More than 1.2 million bank accounts were changed in…
Read More »Unemployment Rate Falls To 6%
The number of unemployed people fell by 154,000 to 1.97 million between June and August 2014, according to official figures. The Office for National Statistics (ONS) figures reveal that the unemployment was 6% between June and August 2014 – the…
Read More »Bill Introduces April 2015 Pension Reforms
Draft legislation that sets out the pension reforms announced at the 2014 Budget has now been published. The Taxation of Pensions Bill will change the tax rules to allow over 55s to access their defined contribution pension pots with more…
Read More »Couples Struggle With Financial Planning
Couples discuss their future finances but fail to turn their conversations into action, research by Prudential has found. The survey found that 79% of couples have talked about their financial plans in the last year. However, 52% say they cannot…
Read More »Female representation increases on boards
Female representation on FTSE 100-listed companies has continued to increase, government figures have shown. Women now account for 22.8% of FTSE 100 board members, up from 20.7% in March 2014. Female representation on FTSE 250 boards had increased to 17.4%,…
Read More »Faster wage growth for private sector
Private sector wages are likely to rise faster than those in the public sector during the next 5 years, a report from the Institute for Fiscal Studies (IFS) has found. The economic research body said that the pay gap between…
Read More »Savers face retirement shortfall
People saving for retirement are facing an average financial shortfall of almost £100 per week in retirement, a study by Friends Life has found. Data on the savings habits of more than 18,000 people revealed that: the average expected retirement…
Read More »Shop prises fall 1.8% in September
Shop prices fell by 1.8% in the year to September 2014, according to figures from the British Retail Consortium (BRC) and Nielsen. This deflation follows the 1.6% drop in prices in the year to August 2014 and is the seventeenth…
Read More »Over 55’s unmoved by pension reforms
The majority of people aged over 55 do not think the government’s pension reforms will impact them, according to a report by Aviva. From April 2015, retirees will have greater freedom to choose how they access their pension savings. This…
Read More »Over 65’s best at reviewing savings
People over 65 are most likely to monitor the performance of their savings and switch to better-paying accounts, a survey by Gocompare has found. The survey asked more than 2,000 adults about their savings habits. It found that people aged…
Read More »Brand Britain boosts businesses
Products labelled ‘Made in Britain’ are more attractive to overseas consumers than those with no declared country of origin, a study by Barclays Corporate Banking has found. The research found that 64% of consumers in new and emerging markets are…
Read More »Majority of firms lack faith in young people
Nearly 9 in 10 businesses think young people leaving school are not prepared for the workplace, a study by the British Chambers of Commerce (BCC) has found. The workforce survey received responses from almost 3,000 companies and found that 88%…
Read More »A third to inherit family assets
A third of UK adults expect to inherit money or property from family members, according to a survey by GoCompare.com. The price comparison site polled more than 2,000 people and found 33% expect they or their partner will inherit assets.…
Read More »New online venture capital initiative announced
SMEs will be able to get help securing finance from angel and venture capital investors online. Online venture investment company, JustInvesting will run the Department of Business, Innovation and Skills’s GrowthShowcase, a website created by Innovate UK and Growth Accelerator.…
Read More »UK SME’s outperform European rivals when Exporting
UK SMEs have seen bigger increases in their export turnover than their European counterparts, a survey by UPS has found. The survey of more than 8,000 SMEs across 7 European countries found that an average 43% of European exporting SMEs…
Read More »Ground-breaking ceremony signals start of transformation of Norwich gateway
A special ground-breaking ceremony has taken place to celebrate the inception of a new student housing and community development set to revitalise the area around Norwich bus station. Brenda Arthur, Leader of Norwich Council, wielded the spade on the site…
Read More »Tax on inherited pensions abolished
The 55% tax charge on inherited pensions will be abolished from April 2015, the Chancellor George Osborne has announced. Inherited defined contribution (DC) pensions that have a drawdown arrangement or have not been accessed will face new tax treatment depending…
Read More »Credit rating factors misunderstood
Just 2 out of 5 financial decision makers in UK SMEs have ever checked the business’s credit report, a survey by Experian has found. Of these, 44% checked their report more than 6 months ago and ‘curiosity’, rather than wanting…
Read More »Slightly older peers key to financial education
Young people aged 16-21 could benefit from hearing financial mismanagement stories from those in the 22-29 age bracket, a report by the Money Advice Service has suggested. The money management advisory group conducted research among 16-21 year-olds and the 22-29…
Read More »Micro-business numbers surge
The number of micro businesses in the UK has grown by 43% since 2000, a report by insurance group RSA has found. Micro firms are businesses employing between 0 and 9 workers. The research found: 1.4 million new micro firms have…
Read More »Small firms unprepared for data loss
Less than a third of small businesses have plans to ensure business continuity in the event of data loss, according to a report by disaster recovery firm Databarracks. Just 30% of the small businesses surveyed have procedures in place to…
Read More »Pension changes boost confidence
More than 4 in 10 pension savers feel more confident about their pension schemes following the reforms announced at the 2014 Budget, a survey for the Association of Investment Companies (AIC) has found. The YouGov survey of more than 3,000…
Read More »Restrictive rules on savings accounts
Four in 10 popular savings accounts come with restrictions that prevent customers accessing their savings, research by Which? has found. The consumer rights group analysed 285 instant-access savings accounts and cash NISAs and found that 39% had hidden rules and…
Read More »SME owners in work/life struggle
Almost two-thirds of SME owners say running a business is a ‘constant challenge’, a survey for card payment provider First Data Merchant Solutions has found. YouGov asked more than 1,000 SME owners about their work-life balance and found that 44%…
Read More »Firms call for business rates reform
More than 100 of Britain’s biggest businesses have called on political parties to reform the business rates system. The group of 107 businesses said the current system is “no longer fit for purpose” in an open letter calling on the…
Read More »Equity investments to boost retirement income
One third of over-55s who have yet to retire plans to use stocks and shares in retirement to offset the effects of inflation on their income, according to research by MGM Advantage. Two separate surveys of more than 2,000 people…
Read More »Online sales growth at 10 month high
The online retail sector grew by 18% in the year to August 2014, according to e-retail industry body IMRG. Around £8.1 billion was spent online between August 2013 and August 2014, the highest level of growth since November 2013. The…
Read More »Annuity sales fall by a third
The number of annuities sold fell by a third between the first and second quarters of 2014, according to figures published by the Association of British Insurers (ABI). The figures reveal that 27,902 fewer annuities were sold in Q2 2014…
Read More »Peer-to-Peer Lending exceeds £2bn
Peer-to-peer lenders have given more than £2 billion to businesses and individuals, according to data published by AltFi. The total amount lent has doubled from £1 billion to £2.004 billion since December 2013. The sector has experienced rapid growth so…
Read More »New support for online exporters
UK businesses will have access to a new package of services designed to boost online exports, UK Trade and Investment (UKTI) has announced. The e-Exporting programme will provide face-to-face advice to businesses looking to develop an online exporting strategy. UKTI…
Read More »Annuity rates fall 2.6% in August
Annuity rates saw their biggest monthly falls in 3 years in August 2014, according to figures published by Investment Life and Pensions Moneyfacts. The figures reveal: annual income from a standard annuity fell 2.6% during August 2014 monthly income fell…
Read More »Retirees avoid cashing in full pension pot
Fewer than 1 in 10 retirees will take their entire pension savings as a lump sum when the government’s pension reforms are introduced in 2015, according to research by Fidelity Worldwide Investment. The survey of 500 people retiring between April…
Read More »Current account interest rates a priority
More than a quarter of people look for a higher interest rate when deciding whether they should switch their current account, according to research by MoneySuperMarket. The price comparison website analysed search data and found that 27% of consumers prioritise…
Read More »1 in 7 dont plan to retire
One in 7 adults do not plan to retire, according to a poll conducted by ICM on behalf of Barings Asset Management. Many more people are uncertain about when they will retire, with 34% of survey respondents reporting that they…
Read More »SME’s look to find investment plans
Three in 5 SMEs are confident they can secure a bank loan to fund investment plans, research by Clydesdale and Yorkshire Banks has found. The survey of more than 850 SMEs found that buying equipment, premises and recruiting more staff…
Read More »SME’s want better government support
Small and medium-sized businesses (SMEs) have mixed feelings about government initiatives to help them grow, research by Aviva has found. A third of business owners think there is enough government support and advice available but 43% say there is not…
Read More »Small firms Blinkered
A third of SMEs are unaware of funding options other than the traditional forms offered by their high street bank, a survey by Aviva has found. Some 29% of surveyed firms said they weren’t aware of ‘alternative’ options – such…
Read More »Small firms blinkered to alternative finance
A third of SMEs are unaware of funding options other than the traditional forms offered by their high street bank, a survey by Aviva has found. Some 29% of surveyed firms said they weren’t aware of ‘alternative’ options – such…
Read More »Loans to first-time home buyers in Northern Ireland increased 29%
Loans to first-time home buyers in Northern Ireland increased 29% in the last year and 13% in the last quarter, the Council of Mortgage Lenders (CML) has revealed. The 1,800 first-time buyers in Northern Ireland borrowed £150 million in Q2…
Read More »Simpler accounting rules planned
Thousands of medium-sized businesses will be able to submit simpler accounts with Companies House under government proposals. Some businesses that are currently classed as medium-sized for accounting purposes would be considered ‘small’ under plans to enforce new EU rules in…
Read More »Home owners unaware of mortgage rates
Almost half of people do not know the current rate of their mortgage, research by communications campaigner Keep Me Posted has found. The consumer group surveyed more than 1,000 people and found that 42% of UK mortgage holders are unaware…
Read More »Businesses back EU rethink
The majority of British businesses favour a renegotiated relationship with the EU with certain powers returning to Westminster, a British Chambers of Commerce (BCC) survey has found. Of the 3,200 businesses surveyed by the BCC, 60% wanted to see a…
Read More »SME lending under government scheme falls again
Lending to SMEs under the government’s Funding for Lending (FLS) scheme fell by £435 million in Q2 2014, according to the latest figures from the Bank of England (BoE). Large corporates borrowed £3.5 billion less under the scheme in the…
Read More »Economey to grow 3.2% in 2014
The UK economy will this year grow by more than 3% for the first time since 2007, according to updated forecasts from the British Chambers of Commerce (BCC). Updating its projections for the rest of the year and through to…
Read More »Financial jargon confuses consumers
Consumers don’t understand the financial jargon used by banks and building societies, according to a survey by National Savings & Investments (NS&I). The poll of more than 1,200 adults found that 67% of Brits know what a BACS payment is…
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