Monthly Archives: July 2021

Hot Business News Today

Transition to a net zero future with green finance

by  •  • 0 Comments

By fundingoptions on Small Business – Advice and Ideas for UK Small Businesses and SMEs

We all need to play our part to build a more sustainable future. SMEs, who are the lifeblood of the UK economy, will be a key player ensuring this occurs.

It’s in every business’ own interests to ‘go green’. Research indicates that £3bn savings can be realised by the SME community if it were to implement simple energy efficient measures. 

Why is it important for businesses to go green?

In June 2019, the UK was the first major economy to pledge to end its contribution to global warming by 2050. Earlier this year, the UK also committed to the ambitious goal of reducing its carbon emissions by 78 per cent by 2035 compared to 1990 levels. 

If the UK is going to achieve these pledges, all businesses will need to pull together now to make sufficient headway.

Collective responsibility

SMEs make up 97 per cent of the UK economy and contribute 25 per cent to its carbon emissions. Therefore, the UK won’t reach its net zero goals unless the SME community starts taking collective action today. 

Future growth

As the world transitions to a low carbon future, customers will expect the businesses they interact

Read more...

Hot Business News Today

Calls to extend complex Brexit Support Fund

by  •  • 0 Comments

By Anna Jordan on Small Business – Advice and Ideas for UK Small Businesses and SMEs

The £20m Brexit Support Fund to support struggling businesses after Brexit has only given out £6.8m of its allocated funding.

Individuals and organisations are calling for the fund, now closed to new applications, to extend to a second round.

Cabinet Office Minister Michael Gove launched the Brexit Support Fund in February, encouraging businesses that trade with the EU to claim up to £2,000 each to help pay for training and professional advice. However, figures show that businesses who applied only received £1,555 rather than the £2,000 maximum.

Hilary Benn MP, co-chair of the cross-party UK Business and Trade Commission, said the support scheme was “more of an obstacle course, which discourages applications by making SMEs jump through too many hoops for a very small return”.  

Businesses were only able to apply if their overseas trading was purely focused on the EU, including Northern Ireland, with their imports and exports not going anywhere else. Business groups did lobby to have the rules relaxed so that firms that were predominantly trading with the EU could apply.

>See also: Top five tips for SME exporters in a post-Brexit world

HMRC, who

Read more...