When it comes to finance news relevant to small and medium enterprises, we’ve got all the stories that have been hitting the headlines this week. From export incentives for SMEs (could you be getting tax credits if you’re involved in exporting?) to a rundown of the mega shopping bonanza that is Black Friday (what is it and exactly how long do we have to prepare?), all the week’s hot financial topics are right here.
Feature of the week
If your business involves retail, then you’ll be quickly learning what Black Friday is (if you didn’t know already, of course). For many it’s the retail equivalent of a hunting horn that announces the start of the Christmas shopping period, and in the last few years has become extremely popular in the UK.
This article comes from The Telegraph and gives an interesting overview of when Black Friday started and how it’s seeped into UK consumer traditions. Definitely worth a look if you’re considering taking part in the pre-Christmas sales this year.
See more of the news that’s caught our eye…
Big banks need to protect themselves better to prevent the taxpayers having to bail them out, says global regulator, the Financial Stability Board. New rules will be put in place to make sure banks have enough money to act as a safety net rather than relying on the public and the government.
Some people are suggesting to the Chancellor that businesses who export should get reduced tax bills or tax credits. This comes on the heels of the news that Britain’s deficit of trade increased much more than expected in September – read above for the full figures.
Business leaders are being encouraged to increase living standards for their workers on low wages following the tough economic climate. Suggestions include offering free childcare and cutting taxes for those employees who have been hit hardest.
This week will see the arrival of new data revealing public sector spending with SMEs, although some are saying that these statistics need to be looked at much more closely before they are to be believed.