According to recent figures from HM Revenue & Customs (HMRC), paper tax returns accounted for just 11 per cent of the 10.39 million filed in 2015, which was 340,000 fewer than in the year before. Continue reading
A group of nearly 50 tech start-up representatives have signed an open letter to Prime Minister Theresa May urging her to protect access to tech talent once Brexit negotiations begin. Continue reading
The British Chambers of Commerce (BCC) has written to Chancellor Philip Hammond, urging him to adopt an £18bn package of measures to support business when he delivers his Autumn Statement next month. Continue reading
According to a new report from the Department for Business, Energy and Industrial Strategy, the number of private sector businesses in the UK has reached a record high of 5.5 million, a 23 per cent increase on the number in 2010. Continue reading
A recently formed small business taskforce, created by the joining together of a number of entrepreneurial organisations, is calling on the Government to continue to support labour market flexibility, reasonable taxes and business and export support. Continue reading
The National College for Teaching and Leadership (NCTL) is offering grant funding of up to £30,000 for groups of schools to carry out collaborative research projects. Continue reading
Business leaders in the telecoms industry are furious at the proposal to increase business rates fourfold from April next year, saying that the steep rise will almost certainly lead to higher prices for consumers. Continue reading
The largest ever seed funding competition for start-ups has been launched in the UK, which will give them the opportunity to apply for a share of a £1.8m investment fund. Continue reading
New businesses have to work smarter and faster if they are to succeed in the marketplace and new research has found that over 70 per cent of entrepreneurs now rely on mobile apps to run their operations, eliminate admin and scale their business. Continue reading
New research has found that more tech start-ups in the UK went public or were bought in the second quarter of the year than in any other country in the world, except the US, and accounted for 65 per cent of all merger and acquisition activity in Europe.
However, the number of exits in the first half of this year is down 17 per cent year-on-year and the price tags have also reduced, with more than 50 per cent of tech company exits going for less than $50m.
This may be because they are being pressured to opt for a quick sale so that they can repay their investors rather than hanging on for growth, which is certainly what one of the UK’s most celebrated investors believes.
According to Neil Woodford, who is a passionate advocate of taking the long-term approach to investing, the UK’s funding system is “appallingly bad” at helping start-ups reach their full potential.
He believes that when investors decide to offer cash to start-ups, they often want a return too quickly, meaning that the business is unable to continue to invest in growth.
Speaking to the BBC last week, Mr Woodford said that the start-ups that have been successful have, in his opinion, sold out early in a bid to repay their shareholders.
According to the investor, this a capital problem; typically, the successful businesses that reach a few million in value have been under pressure to sell, principally because of the time constraints placed on those investments.