Economic Growth

Bank of England puts hold on interest rates due to Brexit uncertainty

The Bank of England has placed interest rates on hold following growing uncertainty around Brexit. A vote to leave rates unchanged held by the bank’s Monetary Policy Committee (MPC) was in favour of leaving rates at 0.75% by 9-0. Financial markets are currently indicating that rates will not rise until…

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Retail sales expected to be ‘a little healthier’ next month

Retail sales are expected to pick up in May, according to the Distributive Trades Survey by the Confederation of British Industry (CBI). The survey of 100 firms showed that, in the year to April, retail sales volumes were broadly unchanged. Sales were below average for the time of year for…

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PIF offers licensing help to pet boarders

More Pet Industry Federation (PIF) members are now eligible for help with licensing. PIF has extended its successful Primary Authority coordinated partnership with City of London Corporation. It will offer support for its licensed kennel, cattery and home boarding members across England and Wales. PIF’s Primary Authority is a statutory partnership. It…

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The EU Referendum and what it means for you

We’ve all heard the debates and seen the news stories but what does the referendum mean for your business? On Thursday 23 June the UK will decide whether it chooses to remain in the European Union or whether it leaves. In 1975, Britain held a referendum shortly after joining the…

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Small firms tied up by red tape four days per month

New research from the Federation of Small Businesses (FSB) has revealed that small firms spend four days per month sorting through red tape. The survey of 1,685 smaller business owners learnt that they spent over 33 hours every month on internal business administration. In addition, the average small business sees around 70 hours of…

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London Stock Exchange success for pet food company

Town and Country Petfoods has been named one of the country’s most inspiring businesses by the London Stock Exchange. The firm has been recognised in the latest edition of the London Stock Exchange’s ‘1,000 Companies to Inspire Britain’ report, which celebrates the country’s fastest-growing and most dynamic small and medium…

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Domestic sales at lowest level for over three years

The UK economy continued to soften in the first quarter, according to a private sector business survey created by The British Chambers of Commerce (BCC). Domestic sales and orders have reached their lowest level for over three years adding to the decrease of economic growth. The BBC claim that the downfall is “The…

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Tax Freedom Day: The average Briton ‘works for 150 days a year’ just to pay their taxes

The average British citizen works for 150 days of the year solely to pay their taxes, according to the Adam Smith Institute, organisers of Tax Freedom Day. The UK’s Tax Freedom Day fell on 31 May this year, one day later than it did in 2014. It is calculated by…

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UK economy ‘returns to growth’

According to a British Chambers of Commerce (BCC) survey, the UK economy returned to growth in the third quarter. Based on its quarterly survey of 7,593 UK firms, the BCC estimates the economy to have grown by 0.5 per cent between July and September. Despite the estimate showing economic growth…

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Jubilee lifts early-June footfall

The Queen’s Diamond Jubilee provided an increase in footfall for non-food stores, according to the latest Retail Traffic Index (RTI). However the RTI, compiled by Ipsos Retail Performance, showed that there was no ‘bounce’ effect, as there had been following 2011’s royal wedding, with mid-June’s shop visitor figures regulating as…

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