Redhotcurry - Business News.

	DTI RESEARCH BUSTS SMALL BUSINESS MYTHS
	The degree of risk felt by those thinking of starting their own business is wrongly inflated, deterring some from taking the next step. New research has found that a myth widespread among the public is that most small businesses fail within the first year. In fact, contrary to what many people think over 80 per cent of new businesses survive their first year. read more

	NEW TASK FORCE ON WOMENS ENTERPRISE
	Trade and Industry Secretary, Alan Johnson, has welcomed the announcement of a new task force to boost levels of female enterprise. The DTI will be managing the recruitment of the chair and members of the Task Force that will be launched from Spring 2006. The Task Force will take forward the Women's Enterprise Panel's recommendations. read more

	INDO BRITISH PARTNERSHIP NETWORK LAUNCHED
	The Indo British Partnership Network was officially launched at Asia House in London on 5 December 2005, the eve of the Rt Hon Tessa Jowell, Secretary of State for Culture, Media and Sport visiting India to sign the UK/India Co-Production Treaty; a formal framework for cooperation between the British and Indian creative industries. read more

	MORE SME'S WIN GOVERNMENT CONTRACTS
	A DTI survey of central civil government departments and agencies has shown that of the £4.7billion covered by the survey, over £1 billion was awarded to small businesses, representing 22% of the value of contracts up from 18% last year. To raise awareness, the DTI's Small Business Service have today published a new edition of the Smaller Supplier - Better Value guide. read more

	SHARPER FOCUS FOR SMALL FIRMS LOAN GUARANTEE
	The sweeping changes to the Small Firms Loan Guarantee (SFLG) recommended by the Graham Review came into effect today. SFLG was launched in 1981 to help SMEs with viable business propositions to access debt finance. Over 100,000 guarantees have been issued since the scheme started enabling around £4bn of lending to over 90,000 businesses. read more

	CRE HELPING EMPLOYERS MAKE IT EQUAL
	The Commission for Racial Equality today launched its Code of Practice on 'Racial Equality in Employment', a toolkit to eliminate racism at work. The guide follows a three month consultation with a wide spectrum of employers across Britain. Launching the code a, Trevor Phillips, CRE Chair said: For many people, work is the only place where they interact with those from different cultural and ethnic backgrounds. read more

	POWER NOT POUNDS MOTIVATES LONDON ENTPRENEURS
	Making your own decisions is considered the best aspect of owning and running a business according to 75% of people in a survey commissioned by Business Link for London. The research, which polled 2,452 Londoners, highlighted that many people consider that making money is secondary. read more

	MANDEEP OVERCOMES DISABILITIES TO BE IN BUSINESS
	Mandeep Lotta is on track to creating a thriving business thanks to the support of Remploy Interwork. Mandeep, who is blind and physically impaired, found his disabilities were holding him back from finding suitable job opportunities. So he decided to start his own business Midhorizon Publications Ltd - which creates information leaflets and signs in Braille. read more

	WOMEN HOLD KEY TO ENTREPRENEURIAL ACTIVITY
	The benefits of getting more women to take up entrepreneurship are clear according to DTI Minister for Women and Equality, Meg Munn. Women-owned businesses contribute about £70 billion to Gross Value Added, about 25 per cent of the UK total, mainly from the growing service sector. Nearly a million women are self-employed today in the UK. read more

	HORLICK LAUNCHES 'BRAMDIVA' FOR WEALTHY WOMEN
	In true biz-glam style, City Superwomen Nicola Horlick yesterday launched 'Bramdiva', a financial management initiative for wealthy women. Short on facts, but long on style, Horlick hosted a launch party at Frankie Dettori's eponymous Knightsbridge eaterie 'Frankie's', attended by 200 mainly female guests. "As a woman and a mother, I am very conscious of the fact that many women today feel excluded from the world of investment" said Horlick. read more

	JOWELL HAILS REDUCTION IN GENDER PAY GAP
	Minister for Women Tessa Jowell today welcomed the Office of National Statistics announcement of a fall in the gender pay gap. Mrs Jowell said: "It is excellent news that the gender pay gap is now at its lowest level in 30 years since the introduction of the Equal Pay Act. "In 1975, women earned 70p for every £1 a man received, while today women receive 83p. read more

	TRADE MINISTER MEETS WITH CORPORATE GIANTS OF INDIA
	Mr Ian Pearson MP, Minister for International Trade & Investment met with representatives of India's largest businesses on 7 November 2005, to gain an understanding of the experiences India's companies doing business in Britain. Members of The India Group expressed their views on a variety of subjects including: grants & subsidies. read more

	PHARMACLINIX WINS ENTERPRISE AWARD 2005
	Shashi Gossain, a Registered Pharmacist, founder of PharmaClinix was named the winner of the Enterprise award at the Pharmacy Business Awards 2005. Pharmaclinix is a onestop Health and Beauty Clinic, offering a holistic approach to total well being. Its services include facials, massages, manicures, pedicures, waxing and the latest treatment for skin rejuvenation, acne, hair removal and laser treatment. read more

	MUSLIM WOMEN'S CAREERS BLIGHTED SAYS THE EOC
	New Equal Opportunities Commission (EOC) figures reveal the gaping chasm between young Pakistani and Bangladeshi women's ambitions and the realities they face in the workplace. Almost 50% of those in employment are aiming for a promotion, but despite high levels of ambition, and in many cases higher levels of skill and training, they are finding it disproportionately difficult to get the jobs they're after. read more

	MUSLIM WOMAN TACKLES RELIGIOUS INTOLERANCE
	It's been up and running for just seven months, yet a cultural awareness training company launched to tackle religious and cultural intolerance in the workplace has already been recognised for its groundbreaking work. ' Noble Khan, founded by Sadi Mehmood, has been licensed by ASET, the national body responsible for certifying vocational learning programmes. read more

	INDIA'S GROWTH THREATENED BY POOR INFRASTRUCTURE
	India's phenomenal growth rate of six per cent a year will be unsustainable without serious social reform and infrastructure development, according to a panel of experts at 'The Indian Economy: Elephant or Tiger' a Question Time event, hosted by global credit insurer Atradius on 13 October 2005. read more

	BUSINESS ANGEL GITA PATEL MAKES ASIAN POWER 100 LIST
	Gita Patel, a Director of Stargate Capital Management and Head of Trapezia, an innovative investment product that is the first to be dedicated to the venture capital requirements of women entrepreneurs, has been included in the first Asian Power 100 List, which recognises the most influential and successful members of the British Asian community - launched by the Institute Of Asian Professionals. read more

	STRONG GROWTH CONTINUES IN SMALL BUSINESS SECTOR
	Minister for Industry and the Regions Alun Michael today welcomed a net increase in the business population across the UK, with new figures showing an increase of around 260,000 firms operating at the start of 2004. The latest statistics show this to be the highest year on year increase in the business population since the figures started in 1995. read more

	ICICI OPENS FOR BUSINESS IN MANCHESTER
	On 17th August 2005, ICICI Bank UK Ltd launched their branch in Manchester to cater to the banking needs of those in the North of England. This is ICICI Bank UK Ltd's third branch in England. Speaking on the occasion, Mr Sonjoy Chatterjee, MD & CEO of ICICI Bank UK Ltd commented 'We are delighted to offer our services to the residents and businesses of Manchester. read more

	MUSLIM GRADUATES ARE MISSING OUT IN THE LABOUR MARKET
	More must be done to improve the numbers of Muslim graduates moving into jobs. Just 76 per cent of Muslim graduates of working age are in jobs, compared with the overall graduate rate of 87 per cent - an 11 per cent gap. The employment rate among the Muslim population, is 45 per cent compared with 75 per cent for the overall population. read more

	SOCIAL ENTERPRISE GENERATES £18BN TURNOVER FOR THE UK
	Social Enterprises generate some £18billion in annual turnover and employ over 775,000 people new findings published by the DTI show. Social Enterprises are businesses driven by social or environmental goals rather than the need to maximise private profit. The Survey provides a snapshot of this diverse and important business sector, and how it contributes to society and the environment. read more

	GITA PATEL LAUNCHES 'TRAPEZIA' VC FUND FOR WOMEN
	Gita Patel, Director of Stargate Capital Management, announced the launch of 'Trapezia', the first UK-based investment fund dedicated to Women Focused Businesses. The pioneering £30 million fund seeks to capitalise on the funding gap for women entrepreneurs. read more

	50 YEARS TO PLUG ASIAN UNEMPLOYMENT GAP
	There are now more black and Asian people in work than there were eight years ago, but progress is slow, and if black unemployment continues to fall at such a modest rate, it could take 46 years before there are the same numbers of ethnic and white people out of work. The report by the TUC shows that unemployment amongst the UK's BME communities stands at 11%. read more

	WOMEN COULD BOOST LONDON'S GDP BY £1.5 BILLION P.A.
	London’s economic output would be £1.5 billion higher if part time employment rates for women with children in London were raised to equal those in the rest of the country. Manny Lewis, the LDA’s Chief Executive, said “The lack of good-quality affordable childcare is a severe problem for many Londoners who are struggling to move into work." read more

	WOMEN'S BUSINESS COUNCIL PROPOSED
	Women who are looking to become budding businesswomen were being encouraged by The Women's Enterprise Online Event held on 23 & 24 June 2005. The eventwas aimed at motivating more women to consider enterprise as a viable prospect by linking them up with women's support networks and business support organisations. read more

	MPs SALUTE INDIA'S CORPORATE LEADERS
	On Monday 20th June 2005, UK Parliamentary Group - Labour Friends of India, hosted a meeting in the House of Commons to hear from India's corporate leaders. The delegates were part of the annual CII visit to London and included Narayana Murthy of Infosys, Yogi Deveshwar of ITC Group, Jamshed Irani of Tata Sons, & Rakesh Mittal of Bharti Telecom. read more

	FOREIGN INVESTORS HOLD ONE THIRD OF UK SHARES
	Rest of the world investors owned 33 per cent of UK shares listed on the London Stock Exchange at the end of 2004, according to the Office for National Statistics (ONS) report on share ownership published today. Between 1st January 2004 and 31st December 2004 the UK Stock Market was valued at £1,480 billion (almost £1.5 trillion) - an increase of £112 billion. read more

	LONDON'S ASIAN BUSINESSES WORTH £60BN A YEAR
	The report, 'The contribution of Asian-owned businesses to London’s economy' was launched by the Mayor today at his Asian Business Conference in City Hall. The report shows that in 2003/04 there were almost 39,000 Asian-owned businesses in the capital providing 300,000 jobs - representing 12 per cent of total employment of all firms surveyed - generating some £60bn per year. read more

	ASIANS ENCOURAGED TO APPLY FOR A QUEEN'S AWARD
	Successful Asian-owned companies are being invited to apply for a Queen's Award for Enterprise - the UK's most prestigious Award for business. And Asian entrepreneurs who have been inspired by or supported by particular individuals can now express their gratitude by nominating them for a Queen's Award for Enterprise Promotion. read more

	NUMBER OF BME BUSINESSES REACHES RECORD LEVELS
	The number of BME business start-ups has reached record levels having grown by a third, from 32,000 in 2000 to 50,000 in 2004 according to research from Barclays. BME business start-ups now account for 11 per cent of all new business start-ups. The growth numbers are also bolstered by real success. read more

	ASIAN BUSINESS NETWORKS - ARE THEY ANY GOOD?
	'Young, unattached start-up seeks like-minded spirit for mutually profitable relationship'. Does this sound a like your business approach? If so, you'll undoubtedly have been networking. The mantra for the masses, networking has now replaced other methods as the principal source for new customers and business contacts. read more

	THE SECRETS OF A SERIAL NETWORKER
	How do you become a good networker? Is it an art you have to be born with, or a skill you can acquire and hone? Serial networkers - the ones we seem to bump into at all sorts of events - can certainly teach us a thing or two. They seem to possess that technique for making us feel included in their world. read more

	UK 'DEALMAKER' TO TARGET INDIAN ENTREPRENEURS
	Financial entrepreneur and investment expert, Alpesh Patel is to help Indian entrepreneurs go global as a 'DealMaker' for UK Trade & Investment's Global Entrepreneurs Programme (GEP). In his new role, Patel will provide guidance to a growing number of Indian life sciences and technology entrepreneurs interested in setting up their companies in the UK. read more

	FTSE EXECUTIVE RECRUITMENT SERVICE FOR ASIANS
	SaffronChase, the Public Affairs & Communications Strategy Specialists, have launched an Executive Recruitment service called 'FTSE Executive Resourcing' specifically targeted at finding Senior Asian Executives for FTSE companies. Specialising in appointing staff for integrated securities houses, stockbrokers, global custodians, asset managers, retail & investment banks. read more

	INSTITUTE OF ASIAN BUSINESS NETWORKS LAUNCHES PACT
	The launch of 'Pact', by the Institute of Asian Business Networks, is a unique event focussing on promoting business and encouraging networking opportunities in a relaxing environment. Guests will include local dignitaries, Asian entrepreneurs and chairpersons of other Asian networks and organisations. read more

	GOVERNMENT TO BOOST ASIAN EMPLOYMENT
	The Government today welcomed the publication of the National Employment Panel report on Increasing the Employment and Business Growth of Ethnic Minority groups. Welcoming the report o, the Chancellor of the Exchequer, Gordon Brown said: "The employment gap between ethnic minorities and the overall population is beginning to narrow but we must do more to address this challenge." read more

	BBC'S 'THE APPRENTICE' MAKES TV HISTORY
	Tim Campbell, a self-effacing, authoritative, talented African Caribbean manager from London Transport won BBC 2's 'The Apprentice'. The nature and significance of his win is not yet understood but television history has been made in this country, especially for the ripple effect it will have in all communities; one that will be difficult to match in the future. read more

	ASIAN ENTERPRISE TRIUMPHS AT QUEEN'S AWARDS
	An enterprise founded by an Asian family- and an Asian mentor who encourages enterprise amongst black and minority ethnic (BME) businesses are both being honoured with Royal Awards. Her Majesty the Queen today (21 April 2005) announced the 2005 winners of The Queen's Awards for Enterprise, the UK's leading accolade for business success that is now in its fortieth year. read more

	WORKPLACE RACISM DENIES TRAINING TO ETHNIC WORKERS
	Racism in Britain's workplaces is damaging the career prospects of many black workers because at every level of working life they get less training opportunities, despite often being better qualified than their white counterparts. A new TUC report reveals that even though job related training is more likely to be offered to qualified workers; qualified black and minority ethnic workers receive fewer opportunities. read more

	THE ASIAN BUSINESS AWARDS 2005
	A wealth of Asian talent in business and entertainment attended the ninth annual Asian Business Awards on Thursday 7th April 2005. There is always strong competition for the six coveted Asian Business Awards which honour the contribution and significant achievements of Asian entrepreneurs in Britain who have built succesful businesses. read more

	RANBAXY SETTLES NHS CLAIM FOR 'PRICE FIXING'
	The Department of Health and Ranbaxy (UK) Ltd have jointly announced settlement of the claims brought against Ranbaxy for alleged anti-competitive conduct in the supply to the NHS of generic drugs between 1996 and 2000. Under the terms of the settlement Ranbaxy have agreed to pay £4.5 million. read more

	NEW CHAIR FOR THE ETHNIC MINORITY BUSINESS FORUM
	Trade and Industry Secretary, Patricia Hewitt, today announced the appointment of Adeeba Malik as the new Chair of the Ethnic Minority Business Forum (EMBF) and the appointments of five new members. The EMBF is public body which strengthens the Government's dialogue with ethnic (BME) business. read more

	MAYOR CHAMPIONS DIVERSITY IN LONDON
	The Mayor of London today launched one of his priority campaigns - Diversity Works - a four-year programme to help companies to develop and enjoy the benefits of having a diverse workforce The campaign, funded by up to £9.8 million by the London Development Agency, will provide excluded Londoners with a chance to share in the city's opportunities. read more

	JACQUI SMITH CELEBRATES WOMEN'S ENTERPRISE
	More than 950,000 women are now self employed, with 130,000 taking the plunge in the last year, Women and Equality Minister Jacqui Smith announced today, International Women's Day. But if the UK had the same levels of female entrepreneurship as in the US, there would be around three quarters of a million additional businesses around the country. read more

	HEWITT WANTS 'A FAIR DEAL FOR WOMEN IN THE WORKPLACE'
	Trade and Industry Secretary and Minister for Women, Patricia Hewitt welcomed the Interim report from the Women and Work Commission, which wants 'A Fair Deal for Women in the Workplace'. Ms Hewitt said: "The pay gap is not only damaging to women, it's bad for business and productivity too. read more

	NEW PROJECTS TO AID LONDON'S ASIAN ENTREPRENEURS
	Mayor Ken Livingstone’s London Development Agency today launched three new projects to respond to the needs of London’s ethnic businesses and facilitate greater innovation amongst them. The new schemes will bring a wide range of benefits for London’s ethnic minority business women and owners of ethnic companies in the food and beauty sectors in the capital. read more

	MIGRANTS SUBJECT TO FORCED LABOUR IN THE UK
	Migrant workers in the UK, including those with the right to work here, are subject to such levels of exploitation and control that they meet the international legal definition of 'forced labour', according to a report by independent researchers published by the TUC today. The TUC argues that migrant workers should benefit from the same rights that apply to every other worker in the UK. read more

	SCAM AWARENESS MONTH - TOP TEN SCAMS TO LOOK OUT FOR
	At the launch of a month-long campaign, the OFT identifies the top ten scams targeted at UK consumers to alert the public to the swindles that may part them from their money. UK consumers lose an estimated £1 billion per year to a variety of scams which exploit low-cost, mass-marketing techniques to target recipients. read more

	ASIAN & BLACK BUSINESSES REGENERATE LONDON
	Black and minority ethnic (BME) entrepreneurs make a vital contribution to effective race relations in London through their promotion of inclusive citizenship, wealth and job creation. The Knowledge Centre on Black and Minority Ethnic Businesses and the REFLEX programme seek to encourage positive images of diversity. read more

	DR CHAI PATEL FACES GMC PANEL
	Dr Chai Patel, CEO of Westminster Health Care, today faced a General Medical Council (GMC) Fitness to Practise Panel in London in relation to complaints that he failed to provide proper care for elderly patients at Lynde House, a residential care home that his company Takare owned. The PCC hearing will last until 11 March 2005 and Dr Chai Patel faces being struck off the GMC register if found guilty of Professional Misconduct. read more

	SFO RAIDS GOLDSHIELD CEO'S HOME AGAIN
	The Serious Fraud Office stepped up its investigation of price-fixing by pharmaceutical companies supplying the National Health Service by raiding the house of Ajit Patel, CEO of Goldshield Group Plc. The Department of Health called in the SFO in 2002, alleging that six companies colluded to limit the supply and inflate the prices of antibiotics and Warfarin. read more

	UK MOST ENTREPRENEURIAL IN EUROPE
	New research showing that the UK is Europe's most entrepreneurial major economy was welcomed by Patricia Hewitt, Secretary of State for Trade and Industry. The Global Entrepreneurship Monitor (GEM) 2004, places the UK ahead of rivals Germany, France, Italy when it comes to entrepreneurial activity. It also shows the gap between male and female entrepreneurs closing in the UK. read more

	RACIAL DIVERSITY AN ASSET TO LONDON'S ECONOMY
	Mayor of London, Ken Livingstone today launched his Economic Development Strategy, prepared for him by the London Development Agency (LDA), which highlights the untapped potential of London’s diverse workforce. The Strategy seeks to enable ethnic minorities to fully access business opportunities and finance so that they can contribute to the capital’s economy. read more

	GENDER PAY GAP IS GREATER IN LONDON