Britain’s manufacturing industry continues to perform strongly, new figures suggest. Continue reading
A new study suggests that more than two thirds of UK small and medium-sized enterprises (SMEs) believe that ‘internet issues’ – such as slow broadband and website failures – are the biggest barrier to workplace productivity. Continue reading
Worrying new research has revealed that approximately half of all UK businesses were hit by at least one cyber-attack or security breach in 2016. Continue reading
A new study carried out by the Federation of Small Businesses (FSB) has revealed a drop in business confidence among Britain’s small and medium-sized enterprises (SMEs). Continue reading
The Institute of Chartered Accountants (ICAEW) has predicted that the UK economy will grow by 1.7 per cent this year, despite a slump in growth during the first quarter (Q1). Continue reading
Exactly two-thirds (66 per cent) of people would be happy to pay more tax if it means the quality of the NHS improves, a new poll has revealed. Continue reading
Operating costs for small and medium-sized enterprises (SMEs) are now “at their highest in four years,” according to the Federation of Small Businesses (FSB). Continue reading
Year-on-year consumer spending has fallen for the first time in almost four years, figures from credit card firm Visa reveal. Continue reading
The Financial Ombudsman Service (FOS) has found that complaints about pay day loans have risen once again, with there being nine times more complaints than two years ago.
According to the organisation’s annual report, 10,529 new complaints were logged relating to short-term credit products in the 2016-17 financial year.
Payment Protection Insurance (PPI) was the most complained about financial product, with 168,769 inquiries logged.
High costs and interest rates, damaged credit ratings and money being taken from accounts by a lender without permission are among other common gripes.
A new set of rules was put in place last month, asserting that pay day loan providers are now required to advertise on at least one price comparison website.
Caroline Wayman, the chief financial ombudsman, said “The most striking story this year has been the rise in complaints we have seen from people having trouble with credit.
“It is clear that financial difficulties and financial exclusion remain significant challenges for many people. The important thing is to speak up if you’re struggling. Money is often very complicated – and our job is to unravel what’s happened and find a fair way to put things right by looking at individual complaints.”
City regulator, the Financial Conduct Authority (FCA), and the Bank of England have both expressed concerns over consumer borrowing.
A Lords committee has also suggested that more stringent controls are needed in order to tackle the issue effectively.
Political uncertainty following June’s general election has caused concern among the business community, a study has revealed. Continue reading