Feeds

Chancellor props up SMBs with loans, gov work

Helps the medicine go down

Designing a Defense for Mobile Applications

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. ®

Boost IT visibility and business value

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
HP and Microsoft prove it again: Big Business Doesn't Create Jobs
SMEs get lip service - what they need is dinner at the Club
Samsung threatens to cut ties with supplier over child labour allegations
Vows to uphold 'zero tolerance' policy on underage workers
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
US freemium mobile network eyes up Europe
FreedomPop touts 'free' calls, texts and data
prev story

Whitepapers

Seven Steps to Software Security
Seven practical steps you can begin to take today to secure your applications and prevent the damages a successful cyber-attack can cause.
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.
Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.