It wasn’t all about the General Election when it came to small business news this week (but it was a pretty big part). From the majority political win that has divided opinions, to its knock-on effect on the UK economy, there’s a lot to talk about in the headlines. Read on to see what’s new…
Feature of the Week
Small business owners have ‘made their voices heard’ in election | Small Business
The hype has come to a head, and it’s been revealed that the Conservative party have officially won the General Election 2015. And that’s good news for small businesses, according to one study conducted on the eve of the big day.
This particular study says that the majority of small businesses surveyed favoured a Conservative government, partly thanks to David Cameron’s promise to cut red tape for businesses by £10bn, according to one commenter. See the article above for the full consideration of what the Conservative party will, and won’t, be bringing for small businesses in the next parliament.
Shares and pound surge on election outcome | BBC News
Speaking of the General Election 2015 results, it’s already having an effect on the economy. The BBC reports that that the pound jumped up more than a cent against the US dollar, while the FTSE 100 rose 2%. Keep reading the piece above for a full analysis of this spike.
Barclays unstraps contactless wristbands | Finextra News
The current Barclays contactless wrist-bands are about to be discontinued, and in their place a new, sleeker wristband will be joining the fray of payment technology options now on the market. The futuristic bands can be used to pay small amounts in over 300,000 places in the UK, and up to 10,000 consumers are currently using them. It looks with this new advancement as if they’re here to stay.
In further news of the UK’s economy, the Office for National Statistics has shown that the UK’s trade deficit has dropped from £3.3bn (February) to £2.8bn (March). On top of this, the value of the pound has increased 10% against the euro since the beginning of the year. Click above for the full figures.
Official sales figures of governments bonds were off by more than £2bn, the Bank of England has revealed, thanks to an input error.
A Notice of Errata was issued when the mistake came to light, and the Bank has since been working to revise any data created using the incorrect figure. It’s said that foreign investors were buying UK debt at a record rate thanks to the inflated figures – see this article from The Express for all the information.