Thu, 22 Mar 2012 | BUSINESS NEWS
The recovery-focused Budget this year has plenty of good news for businesses.
Medium-sized businesses up and down the country will be pleased to hear that the government initiative, Business Finance Partnership, has been given 20 per cent extra funding to £1.2 billion. The scheme is focused on supplying credit to mid-sized firms. Seven private sector partners, including MG Investment Management and Cairn Capital, are to co-invest in the Business Finance Partnership.
The funds will be available to businesses with up to £500 million in revenue. It is to assist firms too big to qualify for other credit initiatives and too small to gain access to capital markets.
The corporation tax cut, which could eventually fall to 20 per cent, is also welcomed by UK businesses. It is effectively a sign above an open door saying Britain is open for business, tax specialists are saying. The tax will fall from 26 per cent to 24 per cent in April, rather than the expected 25 per cent. George Osborne added to this a pledge to reduce the rate to 22 per cent by 2014.
The CBI employer’s body commented: “An extra 1% off corporation tax this year could make a big difference to investment intentions.”
In a measure to support the growth of small businesses, investors will receive 50 per cent income tax relief on amounts up to £100,000 put into companies, and a capital gains tax holiday for 12 months.
This unique and renowned freehold bar and restaurant in the heart of York City Centre offers over 250 covers across its spacious interior, pavement seating, and a rare rooftop terrace.
FREEHOLD
A well established and strongly profitable engineering business, located in the Midlands. The company will be an attractive acquisition for both a larger trade buyer and also those looking for a stable engineering business.
This European pharmacy manufacturer specialises in providing custom clinical trial batches for leading pharmacy companies across the continent, playing a crucial role in their R&D efforts.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.