Rural Business Category
-
Banks to rebalance towards SMEs
SMEs are still looking to banks as their primary source of funding, according to Ernst & Young's (E&Y) ITEM Club. However, the respected economic forecaster is predicting subdued growth in business lending in 2014, at just 1.5%, as larger firms increasingly turn to other sources of finance to drive investment. Businesses are expanding investment but growing profits and existing large cash balances mean they can make more use of other means of funding, such as bond issues ...
-
Co-op board exercised “facade of control”
In his widely-publicised review of the Co-operative Group's problems, Lord Myners has come to the "inescapable" conclusion that the present governance architecture and allocation of responsibilities at the mutual is not fit for purpose, having placed "individuals who do not possess the requisite skills and experience into positions where their lack of understanding prevents them from exercising the necessary oversight of the Executive". Lord Myners identified a "façade of control" exercised by individuals "drawn from an ...
-
Global economy strengthening
The global economy will strengthen over the coming two years, but urgent action is needed to reduce unemployment and address other legacies from the crisis, according to the latest Economic Outlook report from the OECD. GDP growth across the 34-member OECD is projected to accelerate to 2.2% in 2014 and 2.8% in 2015, according to the Outlook. The world economy will grow at a 3.4% rate in 2014 and 3.9% in 2015. Among the major advanced economies, ...
-
Crackdown on poorly managed park home sites
New measures to protect the rights of park home owners have come into force, Housing Minister, Kris Hopkins, has announced. Councils now have new powers to tackle poor conditions on park home sites, such as serving notice outlining the action that needs to be taken by the site owner by a given deadline. With over 2,000 park homes sites across the country, Mr Hopkins said it was about time action was taken to give councils the ability ...
-
SMEs encouraged to generate bioenergy from wetlands
Three UK businesses have been awarded a share of over £1.3 million to support innovation in turning reeds and rushes from wetlands into bioenergy, Energy and Climate Change Minister, Greg Barker, has announced. Contracts have been awarded to AMW IBERS, Natural Synergies and AB Systems, as part of a competition to help entrepreneurs demonstrate new ways of turning plant-based material derived from harvesting wetlands into renewable heat and electricity. According to the Government, sustainably sourced bioenergy has ...
-
New powers to protect park home residents
From 1st April 2014, local councils will find it easier to take action against park home site owners who fail to maintain or manage their sites adequately. Councils will be able to take enforcement action where owners are found to offer poor conditions and the new rules also mean that where an emergency situation arises and the park owner is unavailable to take immediate action, the council can step in – for example, if a power ...
-
Co-op to sell farms
As part of a strategic review necessitated by losses at its bank, Co-operative Group has decided that its farms are non-core and has started a process that is expected to lead to a sale of the business. The group currently operates 15 farms across the UK, from Aberdeenshire to the West Country.
-
Treasury Committee – short inquiry into SME lending
The Treasury Committee has announced that it will be conducting a short inquiry into SME lending, focusing on three issues: access to finance for SMEs, the scope for opening up the sector to more competition and the treatment of SMEs by banks. The first evidence session will take place on 25th February and details of further sessions and formal terms of reference will be announced in due course. Written submissions to the inquiry should be made online. Chairman ...
-
Red Throated Divers halt wind farm
The consortium behind the London Array offshore wind farm has announced that it will not proceed with the second phase of the project. The decision is linked to environmental issues which involve a wait of at least three years so that the potential impact of Phase 2 on the Red Throated Divers that overwinter in the Thames Estuary could be completely assessed. London Array general manager, Mike O’Hare, comments: “We believe it will take until at least ...
-
New intellectual property support for Scottish firms
Businesses in Scotland can benefit from new support aimed at helping small firms identify, protect and grow their intellectual property (IP) assets. The Intellectual Property Office has launched "IP for Business" - five tools that can help Scottish firms keep up-to-date in managing their intellectual property, while at the same time obtaining more relevant advice from their accountants and other business advisers. In efforts to improve a poor understanding of IP generally, the new IPEquip toolkit can identify ...
