Business Insights

A new survey has found that, despite a high performing year, many SMEs are still preparing themselves for a challenging start to 2016. As the year progresses, the single biggest uncertainty is the possibility of the UK leaving the European Union.

A survey of young entrepreneurs working in the UK has found that the continuing skills shortage and a lack of access to finance are major concerns. The IoD 99 Network, the Institute of Directors’ network of more than 650 entrepreneurs under the age of 35, warned that these are the issues that could undermine or derail the country’s ‘start-up revolution’.

The US Federal Reserve has announced it is raising interest rates for the first time in a decade. Rates were increased from the range of 0% to 0.25% that had held sway for the past ten years to a new range of 0.25% to 0.5%.

Adam Marshall, director of policy and external affairs at the British Chambers of Commerce, has called for the Government to cut tax administration red tape for businesses.

Representatives of ten so-called ‘challenger’ banks have met with Charles Roxburgh, the Treasury’s director of financial services. The meeting is the first of a new quarterly series of meetings and a number of issues, including the continuation of the Funding for Lending scheme, capital requirements and banking surcharges are all on the agenda.