Small business startup advice – SmallBusinessVoodoo.com

Amid the madness that was Alistair Darling’s Pre Budget Report 2008 earlier today, a ray of hope as £7bn is set aside to help bolster the small business coffers through the impending recession.

The prime focus of the Pre Budget Report 2008 with regard to small business was to ease cash flow concerns which undoubtedly will bite ever deeper as the recession takes hold through 2009.

Pre Budget Report 2008 Key points:

- The planned 1% increase in corporation tax from 21% to 22% in 2009 has been deferred.  Marginally helpful but only if your small business happens to be turning a profit of course.

- Small business will be allowed to pay off VAT, NI payments and corporation tax over a longer period, although it is not clear Read more »

EIB Loans For Small Businesses…

Alistair Darling proudly announced last week that £4bn has been earmarked for lending by the European Investment Bank to the UK’s small and medium sized business sectors over the next four years as part of a European initiative to support SME’s through the current credit crunch.

His performance reminded me of the old yarn about a company chairman who stood up at the annual general meeting and announced: “Last year I had to report that the company was standing on the edge of a precipice. This year I am delighted to announce that we have taken one giant step forward…………” Read more »