Small business finance problems investigated

A new initiative has been launched to get banks and financial institutions lending to small businesses again.

As a result of organisations pointing out that finding finance for small firms was 'vital to reinvigorating the economy,' business secretary Vince Cable and chancellor George Osborne have launched the 'Financing a Private Sector Recovery' paper, in a bid to get lending moving and to encourage investment. ... Continue Reading

Motherwell hotel goes into administration

Dalziel Park and Conference Centre in Motherwell has entered administration due to its failure to satisfy creditors.

The hotel and conference centre has four conference suites, as well as wedding facilities and a golf course. It is currently owned by Mario Rea and is a popular venue for weddings in the area.

It is now in the hands of KPMG, who have confirmed that Dalziel Park will operate under their control whilst a buy... Continue Reading

Cornish holiday cottage business seeks buyer

Glynn Barton, a leading holiday cottage business near Bodmin in Cornwall, has come to the market for offers in excess of £2,500,000 through Chesterton Humberts.

The business, which specialises in holidays for families with young children, is set in a beautiful elevated position with panoramic valley views, equidistant between the south and north Cornish coastlines. It was named ‘Best for small children' in The Times newspape... Continue Reading

Chancellor commission small business tax reform body

George Osborne has commissioned a new project aimed at simplifying or scrapping the complex tax laws faced by small businesses.

He has enlisted top accountants Michael Jack and John Whiting to spearhead the Office for Tax Simplification (OTS), and charged them to produce a report by the autumn detailing the reliefs, exemptions and allowances that could be streamlined.

A second report will be produced before the next Bu... Continue Reading

Eminent Newmarket restaurant seeking buyer

A buyer is being sought for one of the most celebrated pub restaurants in Newmarket after the long-term landlady decided to call it a day.

The Star at Lidgate has attracted a clientele that has included Prince Harry, Lord Lloyd Webber and many famous faces in the horseracing industry, but Maria Teresa "Tere" Axon is calling time on her tenure at the establishment.

Mrs Axon's husband, Tony, said their first priorit... Continue Reading

CIM survey suggests growth for small, medium businesses

Small and medium-sized business in the UK is improving, according to new results published in The Chartered Institute of Marketing’s (CIM) Marketing Trends Survey 2010.

The annual report, which is conducted by research giant Ipsos MORI on behalf of the Institute, found that small and medium-sized businesses in the UK are the most optimistic about business growth over the coming year. More than half of respondents were convinced tha... Continue Reading

'Local loans' policy to launch in Scotland

Project New Bank, which is being set up by City grandees Lord Levene and Sir David Walker, aims to put high street bank managers back at the heart of lending decisions.

Poised to launch soon, the bank will give local branches the power to make their own decisions on lending to small business and individual borrowers. By making decisions at a local level, it will be able to keep risks low, confining any failures rather than feeling t... Continue Reading

Yorkshire brewery buys its own pub

One of West Yorkshire's most prominent micro brewers has bought up its first premises, taking ownership of the freehold of a Wakesfield pub from the Scottish and Newcastle Pub Company.

Great Heck Brewing, which was founded in 2008 by Denzil Vallance and Jason Hall, has bought O'Donaghue's pub in the West Yorkshire town for and undisclosed sum. The pub was originally for sale for an asking price of £175,000

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Hotel to reopen following administration

Sandwell's most famous restaurant, Jonathans in Oldbury, went into administration in October last year but is about to reopen as the four-star Accor All Seasons Hotel.

In its previous guise, the business was well loved for its traditional English cooking, attracting 300 visitors a week to the three-star, 45-bedroom hotel.

It underwent a multi-million-pound revamp in a bid to start attracting a new wave of customer... Continue Reading

New company registrations rise

Following two years of steep falls, the number of new business registrations has begun to rise once more.

Recent research by Companies House has revealed that new company registrations rose by 10 per cent to 362,317 during the 12 months to March this year.

These figures, in such stark contrast to those recorded during 2007/08 and 2008/09 - when new registrations fell by 17 per cent and 11 per cent respectively - hint a... Continue Reading

Boost to small business in emergency budget

It is expected that today’s budget will boost small enterprise with the government pledging ‘help for business that doesn’t stifle investment.’

A plan to increase lending from banks to businesses is also expected, coupled with a five-year plan that will reform corporation tax.

George Osborne’s plans to increase bank lending to small and medium sized businesses was described last week by Vince Cable as a ‘key ... Continue Reading

Star-studding Edinburgh hotel for sale

A five-star Scottish hotel frequented by the stars is up for sale following the collapse of its parent group.

The prestigious Glasshouse Hotel in Edinburgh - which has welcomed celebrities such as Kylie Minogue, Annie Lennox and Meryl Streep - is on the market after the Eton Collection Group collapsed.

The glitzy Edinburgh hotel, which opened in 2003, and four other hotels owned by the group are now looking for new owner... Continue Reading

Law firm helps small business make big sale

A Newcastle business man has credited the guidance of a UK law firm in helping him to sell his small business, a mobile phone firm, for an impressive £3.6 million.

When Ian Gillespie, majority shareholder of Fone Logistics, sold his company recently it was with the assistance of Muckle LLP law firm – a company he first contacted when he was setting up his small business 15 years ago.

Fone Logistics supplies mobile h... Continue Reading

Pubs go under the hammer to repay debts

A number of central London pubs will go under the hammer next month in a sale-and-lease-back enterprise by a pub group.

In an effort to raise funds to pay off debts, Enterprise Inns will put 10 London pubs on the market and then lease back the premises. The pub group hopes to raise almost £11 million through the process.

In line with previous sell-and-lease-back auctions, Enterprise Inns proposes to lease back the pubs... Continue Reading

Franchise industry is weathering economic storm

New figures just released show that franchises are bucking the economic trend and continuing to be profitable.

Despite the much publicised downturn, franchise businesses have remained a success story. The release of the 2010 Natwest/BFA Annual Continue Reading