Business news week round up
UK economy at a glance
|Indicator||Value||Change on week||Change on month||Change on year|
|FTSE 100||7094.22||– 26.37||+ 106.57||– 338.51|
|£ against US||1.30||none||– 0.01||– 0.02|
|£ against €||1.14||none||none||+ 0.01|
|UK inflation||2.4%||none||– 0.3%||– 0.6%|
|UK interest rates||0.75%||none||none||+ 0.5%|
* Figures are as at midday on 12th November 2018
Self-employed vulnerable to rising business debt
Debt advice service Business Debtline has revealed that a growing number of small business owners and the self-employed are contacting them due to rising debt. Overall, 36,000 small business owners and self-employed people contacted the service in 2017 and around 49% had a debt of £10,000 or more, while 23% owed more than £30,000. Business Debtline also revealed that businesses in the construction and retail sectors contacted them the most. Irregular incomes, late payments and a lack of business management skills are the main reasons why smaller businesses get into debt.
Read more about the research at:
New rules on use of personal data for marketing
The Committee of Advertising Practice (CAP) has updated the CAP Code following the introduction of new rules on the use of personal data for marketing. The new rules have been introduced to ensure the CAP Code covers the data protection issues most relevant to marketing and to align the rules with standards introduced by the General Data Protection Regulation. While the new rules will take effect immediately, they will be subject to a 12-month review period during which CAP and the Advertising Standards Authority will deal with most matters or breaches of the rules in an informal manner.
Read more about the new rules at:
Business tax relief to hurt small businesses
Changes in the Finance Bill will mean that the increase in the Annual Investment Allowance (AIA) will have an adverse effect on small businesses who do not meet the spending requirements by 31 December 2020.
To read more, go to:
Government amends accounting rules in Companies Act for post-Brexit
The government has issued draft legislation to amend the filing exemptions for companies and limited liability partnerships (LLPs) ahead of the UK leaving the EU, but refers to ‘exit day’.