Financing business

The Financial Services Authority (FSA) has confirmed that four major UK banks will start a full review into the mis-selling of products to small businesses, after it found that nine out of 10 sales did not meet regulatory requirements.

Lending to small and medium sized enterprises (SMEs) by banks and building societies contracted in the three months to November 2012, despite Government efforts to boost business lending.

Angel investors are being urged to take advantage of tax breaks when investing in start-up companies after additional incentives were highlighted by tax officials.

There was a significant increase last year in the amount of finance provided to businesses for plant, machinery and IT investment, according to figures released by trade association the Finance & Leasing Association (FLA).

The Government will invest an extra £30 million over the next three years in its start-up loans scheme, Prime Minister David Cameron has announced. The scheme has also been extended to those aged 25 to 30.

Small and medium sized businesses and sole traders are to benefit from £55 million of Government funding being channelled through non-bank lenders.

The Scottish Government's ambitious renewable energy targets are at risk because of a skills and finance shortage in small businesses, an inquiry has found.

Early stage companies in Scotland have benefited from a 26 per cent increase in business angel investments in the first nine months of 2012, figures from Linc Scotland have revealed.

Falling domestic and export orders and contracting production levels for SMEs in the three months to October knocked business confidence in the UK, a report by the Confederation of British Industry (CBI) has found.

Entrepreneurs and start-ups in Northern Ireland are to receive a new support programme to get their business ideas off the ground; Northern Ireland's enterprise minister Arlene Foster has announced.