The Deputy Prime Minister was at Huddersfield’s David Brown Gear Systems yesterday along with Business Secretary Vince Cable to confirm the company is the first in the region to receive cash from the Government’s Regional Growth Fund, which aims to create private sector jobs.

Read More about David Browns Gear Systems here from the yorkshire post.

The local environment for private funding for business is changing and becoming more complex. UK companies that source local funding specialists who can provide advice and assistance, raise more money, achieve more financial independence, better shareholder returns and more contented stakeholders (employees, shareholders, clients and customers, suppliers).

 

Once this low-emission fuel is ready, Uptown and Pure Fuels sell it straight on to a combined clientele of around 1,100, most of them taxis – London’s black cabs, which are responsible for 10% of PM10 particulate emissions from exhausts in Enfield, London, until recently had to pass a twice-yearly emissions test, making biofuel a popular option for drivers.

Not all customers have four wheels: in a recent coup, Uptown brought global accountancy firm PwC onto its books. It will provide fuel for 25% of the electricity in the company’s flash new London headquarters, and 20% of its heating and cooling needs, accounting for about half of Uptown’s revenue.

Read More Here

 

A report in the Daily Echo states Mr Parker, a certified Bournemouth accountant, warned councillors that he had been placed in a ‘very difficult position’ because the Cabinet report did ‘not provide an adequate assessment of risks or deliver an independent or robust evaluation of the two options considered’.

Read More about this Bournemouth accountant here

To find the right small business or chartered accountant in Bournemouth district click on the link. The benefits of choosing the right accountant has many advantages tangible and intangible, such as:

  • saves money
  • pay less tax
  • saves time
  • allows business owners to devote more time, energy and efforts in wealth-creation (vital for success).

 

 

Speaking to Manchester Accountants on a visit to Manchester for the Conservative Party Conference, Mr Izza added there was still too much red tape coming out of Europe, restricting the ability of businesses to grow.

And Mr Izza told the MEN his own sector has a key role to play in helping businesses develop.

He said: “One of the things the government keeps saying is that SMEs need support and advice about how to take the next step, and whenever these businesses are asked, accountants often come out as their most trusted advisers.

Read more at Manchester evening News

 

Speaking to Liverpool accountants and business people at a fringe event at the Labour party conference in Liverpool last week, Shadow Treasury chief secretary Angela Eagle said the UK Government should have been tougher.

The Swiss agreement is an absolute disgrace. The Government wants to get the deficit down but why not try to charge the top rate of tax? Why were those who deliberately avoided and evaded allowed to buy their anonymity?

Read more of the ‘Swiss tax deal is a disgrace’ report at MoneyMarketing

 

 

 

Soros’ 7-step long term plan for eurozone

On October 24, 2011, in business finance, by accountant watchdog

In FT.com business news article “My seven-point plan to save the eurozone” George Soros, as FT guest author, writes in his article his suggestions as the actions for Euroland leaders to take to resolve the Eurozone crisis (including Greece’s debt, Republic of Ireland and Portugal fragility). Soros is surely worth listening to, as he is widely regarded as one of the most talented global currency traders in history.

George Soros’ 7-point plan to save the eurozone

a) Member states of the eurozone agree new common treasury treaty, and European Central Bank to provide liquidity and European Financial Stability Facility EFSF to accept the solvency risks.

b) EFSF to underwrite ECB/IMF Greek bonds, allowing voluntary Greek debt reduction with EFSF support.

c) EFSF guarantees banking system, not government bonds.  Delay proposed recapitalisation. This is Bundesrepublik Deutschland (Federal Republic of Germany)’s preference, and is beneficial to France than recapitalisation.

d) Major banks follow ECB line, in return for EFSF guarantee.  Any rebel banks are denied access to ECB ‘discount’ gateway.

e) Banks follow ECB’s instructions to maintain credit lines and loan portfolios. Appoint risk managers as inspectors to as internal monitor system. Financial markets will approve.

f) ECB to drop discount rate, and ECB stops open market purchases. Governments to issue treasury bills. Banks to keep liquidity in treasury bills, not ECB deposits. EFSF covers solvency risk. Italy can borrow short-term at reduced cost. No need for ECB to lend to Governments. No printing of money (Quantative Easing -QE).  Creditor countries control Italy by negotitating and restricting how much Italy can borrow via this route.

g) Markets will favour:

  • Authorities working together
  • Sufficient funds available to fund eurozone finance plan
Banks can then be recapitalised.
Euroland member states to agree on a common Eurozone fiscal policy in time.
George Soros should know. He made 1 billion out of the UK exit the European Exchange Rate Mechanism, considered one of the greatest trades of all time. On September 16, 1992, Soros short sold British pounds. At the time, the UK was part of the European Exchange Rate Mechanism, a fixed exchange-rate system which included other European countries. Other member countries pressured UK to devalue its currency in relation to the other countries in the system or to leave the system. It resisted devaluation. With pressure from the fixed system, as well as currency speculators the British pound was floated.  The value of the pound suffered.  By leveraging the value of his fund, Soros was able to take a $10 billion short position on the pound, which earned him US$1 billion. 

Soros understands currencies and fiscal policy better than almost anyone on the planet.

 

Don’t try this at home, or at the office. Macroeconomics does not always impact on the UK economy, or niche sectors. In business, it is best to seek professional advice from a business finance adviser regarding any currency or market fluctuations that might affect your business, or business funding, or that of a competitor.
 
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