small business news

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Sole traders, entrepreneurs and other individuals who are required to fill out self-assessment tax returns will not receive a late filing penalty if they make their submission on the 1st or 2nd of February.

schools must develop entrepreneurs

The Forum for Private Business has called for schools to play a leading role in encouraging entrepreneurship amongst young people.

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Search engine giant Google has announced a 12 month campaign to get businesses in Wales to start using the web.

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SMEs use multiple banks to avoid risk

july 2010

Small businesses are moving away from using just one bank due to the credit crunch and the difficulties in accessing finance from high street banks.

“Multi-banking” has increased by 14% in the last 3 years, and one in 3 small companies are using more than one bank, according to research by Continental Research and Santander Corporate Banking.

More than 50% of “multi-banking” companies were doing so to avoid further risk after the recession and the bank bailouts, and 44% were benefiting from better interest rates and service options as a result.

“Businesses have traditionally had one banking partner which has acted as depositor, creditor and guarantor," stated Steve Pateman, head of Santander Corporate Banking.

“However, we are increasingly finding that this role has changed and become more fragmented as the overall level of service offered by many banks has become less flexible in meeting the needs of their corporate and commercial customers.”

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