It was a big week for small businesses in the UK, with the top story being the 2013 Budget announcement. But what else happened this week that could affect your business? Check out our roundup of small business news from the past seven days:
Last Friday, businesses all over the country got a bit silly for Red Nose Day, raising money for Comic Relief’s charity projects in the UK and Africa. From bake sales to fancy dress days, small businesses worked hard to donate millions to the worthy cause.
On Monday, a new survey revealed that more than a quarter of young people now aspire to run their own business once they leave school. However, 72% of them said they don’t think they will achieve their ambitions. The study came as Barclays launched its LifeSkills programme, to offer work skill to one million young people.
Tuesday brought good news for many small businesses, as HMRC announced the upcoming RTI tax rules would be relaxed until October. Small businesses which pay their employees weekly will now be able to submit tax information on their usual payroll date instead of in real-time as previously expected.
Next it was announced that UK unemployment is still rising, and has reached 2.52 million. The news is worse for young people, with the rate of unemployment among 16-24 year olds at 21.2%. However, the amount of people claiming Jobseeker’s Allowance is at its lowest since June 2011.
And yesterday, Business Secretary Vince Cable announced plans for the government’s long-awaited Business Bank. The scheme will open a £3.9 billion fund to help small businesses, with the first £300 million to be made available by the end of the current financial year.
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