Monthly Archives: November 2019

Hot Business News Today

Labour reveals plans to increase corporation tax to 26pc in 2019 manifesto

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Originally written by Anna Jordan on Small Business
Labour became the third party to release it General Election manifesto on 21 November.
The document has had a mixed reaction from the public, industry experts and organisations.
One of the most contentious policies is the rise of corporation tax to 26pc (it will be a lower 21pc for businesses with an annual turnover under £300,000). The tax would be staggered over the next three years. It’s hoped that this will raise £23.7bn within five years, according to the funding section in Labour’s manifesto.
To the contrary, figures show that slashing corporation tax in recent years has boosted Government coffers. It might not be that clear-cut, though.
The Office for Budget Responsibility (OBR) states that the cut in corporation tax from 28pc in 2009-10 to 19pc in 2017 boosted revenue to £57.6bn from £40.1bn in 2009-10. However, the Institute of Fiscal Studies (IFS) shows that the reduction in headline rate since 2010 has cost £13bn.
The IFS said: “Corporation tax revenue has increased since 2010 even while the headline rate has been cut. But that does not mean that rate reductions have increased revenue.
“Much of the rise in revenue since 2010 is simply recovering from the effects of

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Hot Business News Today

Small Business Saturday 2019: the small company’s time to shine

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Originally written by Ben Lobel on Small Business
This year’s Small Business Saturday, a day where shoppers are encouraged to spend with local firms, is on 7 December.
According to independent research by Toluna for American Express, £812m was spent with small businesses during Small Business Saturday 2018. The same research revealed that cafés were the most-visited independent outlets (27pc).
When shoppers were asked, over half said they spent more they would normally with small businesses and around a quarter (24pc) said they spent half as much again as they would normally.

Café27pc

Butcher 24pc

Baker20pc

Market17pc

Restaurant15pc

Independent grocery store15pc

Greengrocer 15pc

Independent convenience store14pc

Health and beauty shop10pc

Cinema9pc

Shops will be marking the day by holding customer events and councils will be offering free parking. Some areas will also be putting on networking events and street entertainment.
If you’re an American Express cardholder, you can get £5 credit when you spend £10 or more in participating small businesses.
A rare marketing opportunity
Elaine Burns, co-founder of clothing retailer Wear Eponymous says Small Business Saturday is a very important initiative for her company. ‘The press gets behind interesting small businesses to promote them for what could be, arguably, the only time in the year.
“Throughout the year it’s the major players that scoop the press so now

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