Business News

  • SMEs In Carillion Supply Chain Could Be Left Unpaid

    Thousands of small businesses supplying services to Carillion face financial hardship after the stricken construction conglomerate entered liquidation. Carillion collapsed on 15 January 2018 under the weight of debts amounting to £1.5 billion after several banks refused to provide any further financial support. As a result, trade body Build UK claims that between 25,000 and 30,000 small businesses in Carillion’s supply chain could be left unpaid. While the government vowed to support public sector contracts…

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  • 48% Of SMEs Rely On Unprotected Loans

    Nearly half of SME owners are using unprotected loans to fund their business, according to research from Old Mutual Wealth. A poll of 250 small and medium-sized business owners revealed that 48% have unprotected loans or debts, and 60% had used their personal savings to fund their business. These findings followed the release of a quarterly survey by the Federation of Small Businesses (FSB), which reported low confidence among small businesses at the end of…

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  • More Men Are Working Part-Time

    According to a report by the Resolution Foundation, almost 1 in 8 men worked part-time in 2018, compared to fewer than 1 in 12 in 1997. While hours worked by men in lower paid jobs decreased, men in higher paid roles were found to be working more. The report claims this has led to a polarised labour force, as median-pay jobs have declined while lower and higher paid jobs have increased. The share of low-paid…

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  • 1 In 5 Landlords Intend To Sell Up

    The number of landlords planning to reduce their residential portfolio has hit a 10-year high, according to the National Landlords Association (NLA). Research by the NLA, which has more than 65,000 members, shows 20% of landlords are considering selling up after the government announced a series of tax changes. These include the withdrawal of mortgage interest relief for higher and additional rate taxpayers, a 3% surcharge on additional property purchases and a ban on upfront…

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  • HMRC Bans Credit Card Payments

    Taxpayers will no longer be able to use their personal credit card to pay their annual tax bill from Saturday 13 January 2018. HMRC is withdrawing this method of payment less than 3 weeks before its deadline for online tax returns – and any money owed for 2016/17 – by midnight on 31 January 2018. Withdrawing this facility builds on the EU’s payment services directive, which bans companies – including the Revenue – from charging…

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  • Card Surcharges To Be Banned

    From 13 January 2018, it will be illegal for businesses to charge customers an extra fee for paying by credit or debit card, under the EU’s Payment Services Directive 2. Though this could save money for consumers, the costs for businesses may have to be balanced elsewhere. Some retailers are considering introducing new service charges, increasing shelf prices or refusing to accept credit card payments altogether. It will also still be legal to require a…

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  • Average Earner Will Need £300,000 Pension Pot

    The average earner will need a combined pension pot of around £300,000 to maintain their pre-retirement lifestyle, according to analysis from Aegon. The figure is based on findings from the government’s auto-enrolment review, published in December 2017, which set out the percentage of earnings that savers should aim for in order to maintain their lifestyle. According to these rates, an individual on average earnings of £27,000 should be aiming for a retirement income of 67%…

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  • Flooring Coverings – Supply, Installation Tender

    Flooring Coverings – Supply, Installation and Associated Services Framework – Market Engagement Northern Procurement Group Limited Open early engagement – This means that a procurement idea is currently active, it is in the early stage of development and judging interest from potential suppliers. Contract summary Industry Materials and Products, Technology and Equipment Location of contract Any region Published date 21 December 2017 Closing date 26 January 2018 Description This Prior Information Notice is not a…

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  • National Museums Liverpool Carpet Renewal Tender

    National Museums Liverpool Carpet Renewal in Streets and World Culture Gallery at World Museum Open opportunity – This means that the contract is currently unfulfilled but active, and the buying department is looking for potential suppliers to contact them with bid applications. Contract summary Industry Construction and Real Estate Location of contract North West Value of contract — Published date 20 December 2017 Closing date 15 January 2018 Contract start date 22 January 2018 Contract…

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  • Vinyl and wet room floor covering Tender – Nottingham City Homes Ltd

    Open opportunity – This means that the contract is currently unfulfilled but active, and the buying department is looking for potential suppliers to contact them with bid applications. Contract summary Industry Materials and Products, Technology and Equipment, Mining and Ores Location of contract East Midlands Value of contract £400k Published date 21 December 2017 Closing date 05 January 2018 Contract start date 09 February 2018 Contract end date 08 February 2021 Contract is suitable for…

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  • Government Begins Process To Reverse ‘Staircase Tax’

    The government has published draft legislation to reverse the impact of the so-called ‘staircase tax’ to ease pressure on business owners. This follows a Supreme Court judgement which saw businesses operating in more than one unit in a shared building facing multiple bills where they had previously received one. Firms in adjoining units, which used a communal staircase between floors, were taxed as if they occupied separate properties. Some businesses also faced higher rate bills,…

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  • Tender – Flooring Framework (Coventry)

    WM Housing Group Open opportunity – This means that the contract is currently unfulfilled but active, and the buying department is looking for potential suppliers to contact them with bid applications. Contract summary Industry Materials and Products, Technology and Equipment, Mining and Ores, Construction and Real Estate Location of contract CV1 2UR Value of contract £80k – £106k Published date 08 December 2017 Closing date 06 January 2018 Contract start date 12 February 2018 Contract…

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  • Tender – The Supply, Installation & Maintenance of Floor Coverings

    University of Leeds Open opportunity – This means that the contract is currently unfulfilled but active, and the buying department is looking for potential suppliers to contact them with bid applications.   Contract summary Industry Materials and Products, Mining and Ores Location of contract Yorkshire and The Humber Value of contract — Published date 17 December 2017 Closing date 24 January 2018 Contract start date 30 April 2018 Contract end date 29 April 2020 Contract…

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  • Auto-Enrolment To Start At 18

    The starting age for automatic enrolment into workplace pensions will be lowered from 22 to 18, under new government plans. Auto-enrolment was introduced in 2012 and has seen participation in workplace pensions rise from 55% to 78% of all eligible employees in 2016 – an increase of around 6 million people. Extending the scheme to include younger people will add an estimated 900,000 workers saving into workplace pensions, adding £770 million to annual savings. As…

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  • Most Small Businesses Are Not Ready For MTD

    The overwhelming majority of business owners remain in the dark over making tax digital (MTD), according to government research. Ipsos Mori polled 2,900 small businesses and landlords for HMRC and found that 71% were unaware of the requirement to submit quarterly updates from 2020. A further 13% had heard of the requirements but knew nothing about them. MTD will mean most businesses and taxpayers access their tax affairs online through digital accounts from 2020. VAT-registered…

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  • Scotland Brings In New Income Tax Bands

    Higher earners in Scotland will be paying more income tax in 2018/19 than anywhere else in the UK. Finance secretary Derek Mackay decided to introduce 2 new Scottish income tax bands in his Draft Budget 2018/19, which was delivered on 14 December 2017. A new starter rate of income tax will see those earning less £13,850 a year paying 1 percentage point less than in 2017/18, at 19p in the pound. However, earnings between £24,000…

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  • Carpetright – Profits are below market expectations

    A sluggish housing market and lower consumer confidence have certainly caught up with Carpetright. Profits are below market expectations and the tone of its guidance statement is decidedly gloomy despite some positive revenue signs coming through early in the second half. Competition is also biting, with intense margin pressure not just evident in the Netherlands and Belgium: the UK operating margin has slumped a whole 0.7 percentage points to 1.9%. Management is working hard to stave off the competition…

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  • Carpetright plc Interim Results Announcement

    “Significant progress made in core UK flooring business – first half performance impacted by short term UK beds clearance and losses in Rest of Europe. Current trade encouraging but taking a more cautious view of second half prospects” Financial highlights Group Group revenue increased 2.6% to £228.1m (H1 FY17: £222.3m) (note 1) Underlying profit before tax of £2.1m (H1 FY17: £5.1m)(note 2) Net debt of £22.8m (H1 FY17: net cash £0.4m) reflecting the continued investment…

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  • 4 In 5 Entrepreneurs Are Optimistic About 2018

    Despite economic concerns and uncertain trading relations with the EU, most start-up founders in the UK are confident about how their business will fare in 2018. In research revealed by the Institute of Directors (IoD), 83% of entrepreneurs expressed optimism about their business’ prospects over the next 12 months. At the same time, survey participants were aware of the potential challenges they will face. First on the list of these concerns was the uncertainty caused…

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  • Tender – National Museums Liverpool – Sudley House Refurbishment Works

    National Museums On Merseyside Open opportunity – This means that the contract is currently unfulfilled but active, and the buying department is looking for potential suppliers to contact them with bid applications.   Contract summary Industry Construction and Real Estate, Other Services Location of contract North West Value of contract — Published date 06 December 2017 Closing date 15 December 2017 Contract start date 19 January 2018 Contract end date 29 March 2018 Contract is…

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  • Tender – Term Contracts for Responsive Repairs and Major Works – NN8 1BQ

    Term Contracts for Responsive Repairs and Major Works – In-House Team Support Contract Streams 1A/B/C/D/E/F: General Building Works/Roofing Works/Flooring Works/Drainage Works/Waste Management/Asbestos Removal. Wellingborough Homes Open opportunity – This means that the contract is currently unfulfilled but active, and the buying department is looking for potential suppliers to contact them with bid applications.   Contract summary Industry Other Services Location of contract NN8 1BQ Value of contract £1 – £200k Published date 28 November 2017…

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  • Supplier Event – South Cambridgeshire District Council

    Open early engagement – This means that a procurement idea is currently active, it is in the early stage of development and judging interest from potential suppliers. Contract summary Industry Construction and Real Estate, Computer and Related Services, Technology and Equipment, Other Services, Agriculture and Food, Printing and Publishing, Education, Environment and Sanitation Location of contract East of England Published date 04 December 2017 Closing date 04 January 2018   Description South Cambridgeshire District Council…

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  • Tender – Vinyl and wet room floor covering

    NOTTINGHAM CITY HOMES LIMITED Open opportunity – This means that the contract is currently unfulfilled but active, and the buying department is looking for potential suppliers to contact them with bid applications.   Contract summary Industry Materials and Products, Technology and Equipment, Mining and Ores Location of contract East Midlands Value of contract £400k Published date 06 December 2017 Closing date 22 December 2017 Contract start date 09 February 2018 Contract end date 08 February…

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  • UK Growth To Remain ‘Steady But Sluggish’

    The UK economy is expected to grow steadily, but at a subdued rate in 2018. According to the latest forecast by the Confederation of British Industry (CBI), GDP will grow 1.5% next year, and by 1.3% in 2019. Quarterly GDP growth is predicted to remain at 0.3% until the end of 2019. This is almost half the average growth rate since 2013. Squeezed household incomes are expected to reduce spending, while uncertainty surrounding Brexit will…

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  • Millennial Pension Income To Match Baby Boomers

    Young adults are expected to receive a similar pension income to older generations, a study claims. A report by the Resolution Foundation has challenged pessimistic expectations of the younger generation’s retirement income. Widespread public opinion on the future prospects of young people sees retirement as a concern second only to housing. However, millennials are expected to receive a similar level of pension income to that of baby boomers retiring in the 2020s. The report attributes…

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  • Advisory Fuel Rates Update

    As of 1 December 2017, advisory fuel rates have been updated for employees’ usage of company cars. The following rates are now in place for petrol and LPG-fuelled cars provided by your employer, while the previous rates can be used until 1 January 2018. Engine size Petrol – amount per mile LPG – amount per mile 1400cc or less 11p 7p 1401cc to 2000cc 14p 9p Over 2000cc 21p 14p   The following rates also…

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  • Wales To Revisit Land Transaction Tax

    Wales will consider amending its new land transaction tax in the wake of stamp duty being abolished for first-time buyers on all properties worth up to £300,000 in England and Northern Ireland. Stamp duty was the headline-grabbing measure announced in chancellor Philip Hammond’s Autumn Budget 2017, which was delivered on 22 November 2017. First-time buyers in Wales can only take advantage of the Westminster policy until 1 April 2018 , which is when Wales will…

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  • Profitability of UK companies: April to June 2017

    The net rate of return on capital employed for UK private non-financial corporations related to their UK operations. Publications Profitability of UK companies: April to June 2017 The net rate of return on capital employed for UK private non-financial corporations related to their UK operations. Data Profitability of UK companies Rates of return and revision tables of private non-financial corporations by quarter. Profitability of UK companies Annual and quarterly data for the latest UK profitabilty…

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  • Envirobuild gears up for growth with new board directors

    Envirobuild, supplier of sustainable building products, is marking the next stage in its development with the appointment of two non executive directors. Sandi Rhys Jones OBE and Ken Lindsay join the rapidly growing team that has recently been awarded contracts by Bellway, Bouygues, McAleer & Rushe, Galliard Homes and  Galliford Try. The two new directors bring a combination of finance, business and construction knowledge. Sandi Rhys Jones OBE brings many years experience in strategic marketing…

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  • Construction workers think Brexit will hit government infrastructure projects and ‘intensify skills crisis’, research shows

    More than 80 per cent of construction workers believe Brexit will damage the UK’s industry and prevent high-profile government infrastructure projects from being delivered, a new study suggests. Researchers at Birmingham City University have been examining the views of people working in the sector to see how they believe jobs, projects and industry will be impacted by Britain’s withdrawal from the European Union. The results revealed that 88 per cent of workers believed the UK…

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  • Retail Sales Report – Great Britain October 2017

    DOWNLOAD THIS FULL REPORT Table of contents Main points Statistician’s comment Things you need to know about this release Main figures for total retail sales Retail sales by store type Focus on non-food stores What is happening in other stores as the main contribution to non-food stores? What’s the story in online sales? Links to related statistics Quality and methodology Main points The underlying pattern in the retail industry in October 2017, as suggested by…

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  • Bucking the interior design trend: New research shows real diversity in design trends across the UK

    As part of its sponsorship of the Grand Room Sets feature at Grand Designs Live in Birmingham this October, AXA Insurance has released new research highlighting the most and least popular interior design trends across the UK, with some surprising results. No two houses are the same, however AXA has found that certain cities have particular tastes when it comes to decorating their homes, many of which go against our preconceptions of trends in certain…

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  • Over-50s ‘Risk Running Out Of Retirement Income’

    Over-50s could be putting themselves at risk of running out of money in retirement by underestimating how long they will live, according to a report. Retirement Advantage claims a combination of the introduction of pension freedoms in 2015 with people living longer has created potential for many to experience a pension deficit later in life. The freedoms allow over-55s to take their entire pension pot as a lump sum, with the first 25% tax-free and…

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  • Europe Door-Report-I

    Market for interior doors is benefiting from the renaissance of the construction industry

    The industry for interior doors in Europe increased its sales by 3.4% last year, thus increasing the business volume in the countries under investigation to over 1.8 billion Euros. This trend should continue at the same pace in the next few years due to the positive development in the construction sector, as a new study by Interconnection Consulting shows. Brexit is showing its teeth With a share of 37%, Germany is by far the largest…

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  • Architect@Work-Show

    [email protected] Show 2018 update

    [email protected] Show, the carefully curated two-day trade show aimed at architects, interior designers and specifiers, will return to Olympia National Hall, London for its 2018 edition on 24th and 25th January. Over 100 leading international architectural suppliers will showcase new products and offer the latest innovations in surface solutions, lighting technology as well as interior and exterior fixtures and fittings. All exhibitors go through a rigorous selection process, with an external judging panel overseeing the product…

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  • Industrial Strategy Aims To Boost Productivity

    The government is to invest £725 million into new Industrial Strategy programmes over the next 3 years, with the aim of boosting flagging business productivity. Businesses in the construction sector should be able to benefit from £170 million of the funding, which is designed to provide more affordable housing. Ministers will also review ways to improve SME productivity and promote growth, including the most effective way to address the so-called long tail of lower productivity…

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  • Tender for Floor Care Chemicals

    Yorkshire Purchasing Organisation Open opportunity – This means that the contract is currently unfulfilled but active, and the buying department is looking for potential suppliers to contact them with bid applications. Contract summary Industry Materials and Products, Technology and Equipment Location of contract Any region Value of contract £640k Published date 27 November 2017 Closing date 15 January 2018 Contract start date 24 February 2018 Contract end date 23 February 2022 Contract is suitable for…

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  • Tender – Replace Install new carpets at Templars Court Dartford

    Replacement and Installation of new carpets tender at Templars Court, Littlebrook Manor Way, Dartford DA1 5AD – Dartford Borough Council Open opportunity – This means that the contract is currently unfulfilled but active, and the buying department is looking for potential suppliers to contact them with bid applications. Contract summary Industry Materials and Products, Technology and Equipment Location of contract South East Value of contract £73k Published date 22 November 2017 Closing date 13 December 2017 Contract start…

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  • BIFM strengthens core team with new Commercial Director

    Jacqueline joins BIFM to further strengthen the senior management team at the institute led by Linda Hausmanis; Chief Executive Officer. Alongside Linda, Jacqueline will help define BIFM’s future strategic direction to address new opportunities and challenges facing the sector, including meeting shifting customer expectations, attracting and nurturing talent, and adopting new practices and tools that support greater productivity and organisational performance. Jacqueline brings extensive experience in the property and construction sectors, most recently as Commercial…

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  • ‘Complex’ Levy Affects Apprenticeships

    Small businesses that don’t pay the apprenticeship levy will have a key role to play in ensuring apprenticeship targets are met, a business group has claimed. The Department for Education revealed the number of apprenticeship in the 3 months to the end of July 2017 fell by 59%, compared to the same time the previous year. With many firms in the dark over the perceived “complex” nature of the apprenticeship levy, its effect on the…

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  • Interfloor shares best practice alongside Prime Minister Theresa May in The Parliamentary Review

    Lancashire-based underlay and flooring accessories manufacturer and distributor Interfloor appears alongside Prime Minister Theresa May in the 2016/17 Parliamentary Review. Established by former minister The Rt Hon David Curry in 2010, The Parliamentary Review is now a key fixture in the political calendar. Interfloor features alongside the Prime Minister and a small number of outstanding organisations in a document that looks back on the year in industry and Westminster. The main aim of the Review is to…

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  • Palace Chemicals ‘On The Ball’ With New Commercial Director  

    Liverpool based Palace Chemicals Ltd has appointed a new Commercial Director, in a deal which is set to see the firm achieve its formidable growth plan as they head towards 2020  and beyond. Steve Ball has joined one of the leading manufacturers of Tile Adhesives and Building Products, after over seven years working at, Building Adhesives Limited. Managing and leading the national sales team across its commercial, retail and specification sales, Steve was previously responsible for…

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  • Disincorporation Relief To End In March 2018

    Disincorporation relief will not be extended beyond its March 2018 expiry date. The relief was introduced in April 2013 in a bid to remove the tax burdens when small business owners want to change from a limited company to a sole trader or partnership. It allows companies to transfer certain assets, such as land, building and goodwill, to shareholders without incurring a corporation tax charge. However, the relief has not been widely used – until…

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  • Autumn Budget 2017: Duties On Diesel Cars

    Cars Vehicle excise duty on the most polluting cars will go up by 1 band from April 2018. The diesel supplement will increase by 1%. Vans are not affected by these changes. The government will invest £550 million in electric vehicles, including funding for charging research and development. Duties Duties on beer, wine, spirits and some ciders will be frozen. The government will legislate to increase duty on high-strength alcohol, such as white cider, from…

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  • Autumn Budget 2017: Business

    Business Rates Increases to business rates will switch from the RPI measure of inflation to CPI from April 2018. This is 2 years earlier than planned. Revaluation of business rates will take place every 3 years after the next revaluation. VAT The VAT threshold will remain at £85,000 for the next 2 years. Online marketplaces and sellers will be jointly liable for VAT. Research And Development Research and development tax credit will increase to 12%…

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  • Snickers Workwear – The Right Choice, The Bright Choice This Winter

    There’s superb new Snickers products coming your way to make working in the worst of weather so much easier and comfortable – all of them incorporating the very latest in market-leading designs and fabric technology. There’s brand new 37.5 high-tech Undergarments, plus Jackets, Trousers and Accessories added to the RUFFWork, FLEXIWork and ALLROUND clothing families. Plus a brand new range of Hi-Vis garment collection for maximum safety and wellbeing on site. They’re all working clothes that deliver…

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  • Tower Three Partners Announces Controlling Investment in Parterre Flooring Systems

    Tower Three Partners, a leading operationally-oriented private equity firm that invests in a concentrated portfolio of U.S.-based middle market companies, today announced that it has made a controlling investment in Parterre Flooring Systems, a privately-held leader in the luxury vinyl tile segment of the flooring industry. Founded in 1991 and headquartered in Wilmington, Massachusetts, Parterre was one of the first designers and manufacturers of luxury vinyl tile, plank and sheet flooring products in the United…

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  • Insufficient careers advice puts £90bn GDP at risk

    Almost three quarters (74%) of parents feel that careers advice in schools is too focused on academia Over half (57%) say tuition fees put them off encouraging their child to go to university Lack of knowledge of the many different entry points to the construction/built environment, such as work experience, internships and apprenticeships to undergraduate and graduate programmes Over two thirds (68%) of parents believe that children do not receive enough careers advice at school…

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  • Tender for the slurry surfacing treatments of footways – Supply and Lay

    Open future opportunity – This means that the buyer is not yet ready to invite bid applications but early notification has been provided and some dialogue may be possible. Contract summary Industry Materials and Products, Mining and Ores, Construction and Real Estate Location of contract North West Value of contract £180k Published date 21 November 2017 Approach to market date 11 January 2018 Contract start date 26 March 2018 Contract end date 27 March 2020…

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  • SMEs Pessimistic Ahead Of Budget

    Most small business owners fear tomorrow’s Autumn Budget will not address many of their concerns, according to research from Aldermore. Of 1,008 owners polled by the retail bank, 68% believe there will be next to nothing in chancellor Philip Hammond’s red briefcase to allay their fears. With business rates set to rise by 3.9% in April 2018, 21% either want rates to be cut or rate relief to be increased. 29% called for more investment,…

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