wefinda small business wonderful weekly news - 2nd August 2010

This week Ofcom announced the allocation of two more 116 numbers; 116006 will be used for victims of crime and 116117 for non-emergency medical services. They are now looking for potential service providers as the first stage in the number allocation process. 116 numbers are unique in that they are the same all over Europe. For example, whether you are in Belgium, Germany or the UK or another European country, 116000 will get you access to a missing persons helpline.

Everyone who has an interest in financial services, and let’s face it that means all of us, should take a glance at the Government’s consultation paper on financial regulation which was issued on 26 July. This is our chance to say how we think financial services should be run and how we should pay for them. So, should you pay for advice or loans, should advisers and banks take commission from the insurance companies, how easy should it be to complain, who should supervise your bank and make sure it is lending properly. Let the Government have your comments on all these questions and more relating to the financial services firms, including banks, building societies, insurance firms, independent financial advisors, exchanges and brokers. The more we have our say, the more we will finish up with a financial services framework that fits our needs.

So what do we have to look forward to in the coming week?
Well, to be honest, not a lot. With Parliament and schools on holiday life has become a little quiet on the SME reporting front.

Highlight of the week will be the MPC monthly decision on interest rates which is due on Thursday 5th. With this meeting coming a week ahead of the quarterly inflation report and mixed messages coming out of the economy we continue to watch this meeting with interest.

And finally in a week for bizarre tax evasion stories, a Lancashire man has been send to jail for just over two years for hiding money in his chip shop and behind bushes in his garden in an attempt to conceal his sales of illegally imported cigarettes. However, he has been beaten to our top spot by the man who buried £140,000 in his aunt’s grave in a bid to hide it from the tax man. The Sun was told that customs officers got a tip off and with permission dug up the money and took their £50,000 share.