Commenting on data, David Kern, Chief Economist at the British Chambers of Commerce (BCC), was reported as saying: “The further sharp decline in business investment signals serious threats to Britain’s long-term recovery. In the face of weak demand and mounting financial pressure, businesses have little choice but to cut investment and stock.

“Unless this trend can be reversed, the long-term productive capacity of the economy will be damaged, and the country will lack the necessary capital stock to sustain a recovery. This must be kept in mind when the government plans a fiscal strategy to repair the public finances. It is critical not to impair the business sector’s ability to invest and create wealth”.

Declines in business investment occurred in most industries, with the quarterly fall in business investment mainly due to reduced capital spending by industries classified as private sector manufacturing (down 16.8%), private sector non-manufacturing (down 9.7%) and public corporations non-manufacturing (down 7.2%).

FinSMEs

27/08/2009

One in eight tied pubs said they are paying up to 50% or more for beer compared to untied pub owners who buy their products on the open market. They are then forced to pass these inflated charges imposed on them by the Pub Company (Pubco) to the customer to make ends meet.
Another 85% said that high prices imposed on them by the Pubco is a problem for their business and 73% said they would support a complete removal of the tie.

Figures show that over the past year, 2,377 pubs have closed and 24,000 people have lost their jobs. The FSB belive that the tie is the principle reason for over 50 pub closures a week this year and, given that, the Government should take action to save tied pubs around Britain.

Clive Davenport, Trade and Industry Chairman of the Federation of Small Businesses, said: “Tenanted pubs are being crippled by high beer prices: one in eight tenants are paying 50% or more for their beer because of the inflated prices imposed on them by the Pubco. This then has to be passed onto the customer for the pub to survive. Three quarters of tied tenants said they would support a complete removal of the tie, so we must see change. The tie must be abolished.

“Tenanted pubs are not being given a fair deal from the Pubcos that own them: nearly one in six say they do not receive enough business support and a further seven out of ten are left to their own devices once the contract has been signed. The FSB is calling on the Government to introduce an independent ombudsman and a statutory code to ensure transparency at rent reviews. Without urgent action, we could see the pubs at the heart of our communities disappear forever”.

27/08/2009

The survey, which questioned business leaders from across eight sectors, found that 43% of them believe that cleantech will grow at the fastest pace by 2020, followed by science and technology (20%) and media and entertainment (15%).

Particularly, the survey highlights how the current climate presents new investment opportunities in high-growth areas of the economy.

In a statement from BIS, Science and Innovation Minister Lord Drayson was reported as saying: “Cleantech and renewables will play a huge part in helping the UK economy to grow sustainably, but we need to do more to encourage innovation in these and other high tech sectors”.

FinSMEs

27/08/2009

the Fund, which is supported by the Mayor of London, enables a diverse range of art and skills organisations in the capital to put on courses in activities including theatre, dance and music production, writing and design. Managed by Arts Council England, the fund intends to help Londoners to improve their employment prospects in the creative industries as well as tap into London 2012 opportunities such as the Cultural Olympiad.

This is the second round of the £1.2m fund with a further £500,000 to be awarded later this year through round three.

The Mayor’s Director of Policy, Arts, Culture and the Creative Industries Munira Mirza announced the funding while meeting with young fashion, interior and jewellery designers who have been training at Cockpit Arts in Deptford, a business incubator for design makers which received funding from round one of the 2012 London Cultural Skills Fund in April this year.

The projects to benefit from the round two funding are:

– East London Dance – aDvANCE (Newham)
– Battersea Arts Centre – Creative Technicians Training Bursaries(Wandsworth)
– 198 Contemporary Arts and Learning – 1 London(Lambeth)
– Corali Dance Company – Visual Voices(Lambeth, Hackney, Southwark and Lewisham)
– Spread the Word – Supporting Emerging Writers (Greenwich, Harrow, Croydon, Hounslow and Waltham Forest)
– Kinetika – Championing Artists – Creative Leaders Programme (Tower Hamlets, Hackney, Southwark, Lambeth, City of Westminster and City of London)
– The Albany – Future Fusion(Lewisham)
– Urban Development – Industry Takeover (Newham, Hackney, Hounslow and Lambeth)
– Emergency Exit Arts – Gigantic (Greenwich, Bexley, Barking and Dagenham, Havering, Lewisham and Redbridge)
– English PEN – Readers and Writers – New Communities (City of Westminster and Islington)
– Craft Central – Craft London: Emerging New Talent (Islington)
– Akademi – Extend – Developing Dancers’ Skills (City of Westminster, Camden, Greenwich, Haringey, Newham, Southwark)

FinSMEs

27/08/2009