6:10 am, September 23, 2024
Small firms enjoy fastest sales and profits growth for over two years – report
Britain’s small business sector is ‘thriving’ after seeing sales and profits rise at the fastest pace for more than two years, according to a new report.
The latest Sage small business tracker found that average profits in the sector surged 9.5% higher year on year between April and June, marking the highest growth since the first quarter of 2022.
The report, compiled with Smart Data Foundry and the Centre for Economics and Business Research (Cebr), also showed that small business revenues lifted by 4.4% year on year, which is also the fastest since the first quarter of 2022.
Fuel prices plummeting at fastest rate of the year so far
Fuel prices are falling faster than at any other point in 2024 so far, new figures show.
Average prices for petrol and diesel across UK forecourts are nearly 7p per litre cheaper than a month ago, sinking to their lowest level in almost three years.
Typical per-litre petrol prices have fallen from 142.9p to 136.2p, while diesel has dropped from 147.7p to 140.9p.
Nissan Qashqai takes parking to a whole new level
Nissan has already broken a world record for the longest bungee jump involving a car with its latest Qashqai, and now its campaign to draw attention to the model has continued in the capital.
The latest stunt the firm has pulled off is at the 49-metre tall Truman brewery chimney in Shoreditch, London. But instead of fixing a real version of the car to the chimney, Nissan decided to create a replica.
A spokesperson for Nissan said: ‘We’re very proud of this British-built model and wanted to show it off for everyone to see. So we figured, why not park it in a place where it can’t be missed?’
The markets
Global stock markets tumbled on Friday, with the UK’s top index wiping out gains from the previous day after the dust settled on a week dominated by central bank activity.
London’s FTSE 100 fell 98.73 points, or 1.19%, to end the week at 8,229.99 – the biggest losses came from retailers including Frasers Group, Next and Burberry.
In Paris, the Cac 40 dropped 1.51% and in Frankfurt, the Dax fell 1.43%. Over in New York, trading started on the back foot with the S&P 500 down 0.3% and Dow Jones down 0.1% by the time European markets closed.
Reeves defends ‘tough decisions’ as Labour showdown over winter fuel cut looms
Rachel Reeves will insist that ‘tough decisions’ on the public finances are needed to prevent economic ruin but she will attempt to persuade her critics that there will be ‘no return to austerity’.
In her first Labour conference speech as chancellor, she will also promise action to tackle tax dodgers and claw back money from flawed Covid-era contracts.
But her decision to strip winter fuel payments from 10 million pensioners is likely to be the focus of a fierce debate at the party’s conference in Liverpool, with major trade unions demanding a U-turn on the policy.
UK facing critical shortage of skilled tradespeople – report
The UK faces a critical shortage of skilled tradespeople that threatens to undermine ambitions on housing and net zero, a new report is warning.
Checkatrade said there was an urgent need for 1.3m new skilled workers and 350,000 apprentices over the next decade to meet government targets and ever-growing demands on the construction, home improvement and repair industries.
Its report said that with an improving economy, lower interest rates and accelerated planning processes, the home improvement and repair sector is forecast to grow by 40% over the next decade.
The weekend on Car Dealer
Nissan names Bassetts Swansea site as its best UK dealership in 2024
Bassetts Nissan Swansea was named Nissan’s UK Dealership Ambassador of the Year for 2024, recognized for outstanding sales and customer care. They’ve also won regional Dealer of the Zone awards twice, following a £400,000 site revamp and consistently positive customer feedback.
Special beach-themed SVA Auction sale raises funds for children’s cancer charity
Shoreham Vehicle Auctions achieved a 100% conversion rate at their beach-themed auction, selling 170 vehicles, including 64 EVs. The event raised £5,652 for the Candlelighters children’s cancer charity, with 50 physical and 140 online buyers participating, supporting growing EV demand.
Column: Word of mouth is still one of the best methods of advertising that dealers have available
Richard Pygott explains why word of mouth remains key for dealers in his monthly look into the world of automotive finance and marketing.
Weather
Heavy rain will fall in central and southern areas today, reports BBC Weather. It’ll be drier in the north and some brightness will appear in the south-east later on. Highs of 20 degrees.
Today’s rain in the south will move to the east tonight. All areas will be at risk of a downpour.
