Feeds

Chancellor props up SMBs with loans, gov work

Helps the medicine go down

Build a business case: developing custom apps

Budget 2008 The UK government will temporarily increase Small Firms Loans Guarantee funds by 20 per cent in the next year to help small businesses (SMBs) that are feeling the pinch from tightening credit conditions.

In his first budget speech, Chancellor Alistair Darling said in the Commons at lunchtime today that the government would also relax age restrictions on firms to enable SMBs to take better advantage of its loan scheme.

The government will work with banks to look into ways of helping SMBs access the most appropriate forms of finance, including mezzanine products, by providing an additional £30m in Enterprise Capital Funds.

The Chancellor also announced the creation of a committee that will advise on the practicality of setting a goal for SMEs to win 30 per cent of all public sector business in the next five years.

Darling said the government was simplifying taxes for small companies. He reiterated that corporation tax would fall to 28 per cent from next April.

He added that changes to the capital gains tax (CGT) system, which will also come into being next month, "will benefit over 80,000 businesses".

In January, Darling confirmed that the government had backtracked on its stance over CGT by slashing the rate on profits below £1m made by anyone flogging all or part of a business to 10 per cent. ®

Build a business case: developing custom apps

More from The Register

next story
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Sonos AXES support for Apple's iOS4 and 5
Want to use your iThing? You can't - it's too old
Amazon says Hachette should lower ebook prices, pay authors more
Oh yeah ... and a 30% cut for Amazon to seal the deal
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
Chips are down at Broadcom: Thousands of workers laid off
Cellphone baseband device biz shuttered
Feel free to BONK on the TUBE, says Transport for London
Plus: Almost NOBODY uses pay-by-bonk on buses - Visa
Twitch rich as Google flicks $1bn hitch switch, claims snitch
Gameplay streaming biz and search king refuse to deny fresh gobble rumors
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Backing up Big Data
Solving backup challenges and “protect everything from everywhere,” as we move into the era of big data management and the adoption of BYOD.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.