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FREE Monthly Business Update


Savings fall between spring and summer

The amount people saved each month fell between spring and summer 2014, both as a percentage of monthly income and in terms of value, according to National Savings and Investments (NS&I).

NS&I's latest quarterly survey of saving habits found that the average person saved 7.63% of their monthly income in June, July and August - or £101.66. This is down from 8.21% (£105.43) in the...

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Funding for SME business advice

Small businesses will be able to get funding for advice from business schools under a project run by the Small Business Charter.

The Growth Voucher scheme allows businesses to apply for a voucher to match funding of up to £2,000 towards the cost of advice provided by selected business schools.

Six schools have confirmed their participation in the award scheme:

  • Aston...
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Unemployment rate falls to 6%

The number of unemployed people fell by 154,000 to 1.97 million between June and August 2014, according to official figures.

The Office for National Statistics (ONS) figures reveal that the unemployment was 6% between June and August 2014 - the lowest since August 2008.

Key ONS employment figures:

  • 30.76 million people were in work between June and August 2014
  • ...
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Switch guarantee popular with consumers

There has been a 22% increase on the number of bank account switches since the Current Account Switch Service was introduced in September 2013, according to figures from the Payments Council.

More than 1.2 million bank accounts were changed in the year to September 2014, compared to 985,000 the year before.

The Current Account Switch Service aims to increase competition in the...

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Bill introduces April 2015 pension reforms

Draft legislation that sets out the pension reforms announced at the 2014 Budget has now been published.

The Taxation of Pensions Bill will change the tax rules to allow over 55s to access their defined contribution pension pots with more flexibility from April 2015.

Under current rules, savers who want to take their pension as a lump sum take 25% of their pot tax-free and put...

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