June 2011 Noteworthy News
The health status of micro and small businesses improved , according to Experian’s April Insolvency Index which revealed that 0.55% fewer UK companies become insolvent, 1,808 in number (0.10% of active businesses), compared to the same period last year. There has been an increase of 4.44% year-on-year amongst medium sized companies, whilst the big boys (501+employees), rose by 9.09%. The year-on-year increase in business failure amongst the property sector was apparently 70.37%.
Tedious good health link: An interesting story about someone in good health, with a healthy business. According to the article we came across having to pay for medication in the treatment of cancer, one customer looked at her US drugstore receipt and wondered if she held precious gems. Following successful treatment the unused expensive pharmaceuticals were crafted into jewellery and it seems that Designer Drugs Jewellery pays for ongoing medication.
Unfortunately, it would seem, things are not as healthy in some areas. The Bank of England has been criticised (again), on this occasion a think-tank has criticised the BoE for failing to predict inflation. The Treasury’s decision to remould the Financial Services Authority (FSA) to the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) with a Financial Policy Committee continues to have its critics. Project Merlin the government’s flagship initiative to increase small business lending is set to miss its first set of targets for 2011 Q1 combined with the cost of credit rising the economic situation goes on to give much for debate and critique, and won’t be getting better any time soon. However, in typical British style, the weather managed to breakthrough, making the headlines and offering at least a ray of hope as May’s good weather, combined with the Royal Wedding, meant that consumer confidence had a lift.
(Image and Article credit: Copyright SUF)