News

October 19, 2012

Also in the news this week — 19 October 2012

New business bank account pays 1% interest

CashFlows has launched a new business bank account offering higher interest and lower fees. Thanks to an agreement with Shawbrook Bank, the CashFlows Account brings together a range of domestic and international payment standards and consolidates business banking services into one account. It will pay customers 1% interest on all current account balances. CashFlows claims the account will also reduce the amount a business spends on fees and charges by up to 40%.

The cashless society is not here — yet

One in three Brits carry less than a fiver in cash, but the cashless society is not on the cards just yet. According to research conducted as part of Skrill’s Future of Money campaign, 13% of 2,000 Brits polled say they would happily give up money today and more than one in five (21%) are convinced physical money will disappear in the next 20 years. More than half of respondents say digital wallets or online cash transfers will increase over the next few years. In addition, one in ten would like to do all of their shopping online.

Reasons to be cheerful

September saw the first rise in retail footfall of 2012. The latest Retail Traffic Index (RTI) figures from Ipsos Retail Performance show that the number of shoppers in non-food stores increased by 1.2% in September against the same month in 2011. This marks the first month of the year in which retail footfall has risen. For quarter three as a whole the RTI stood 7.3% up on quarter two — well above the 4.4% seasonal average of the three previous years. “We have been seeing footfall gradually returning to the shops as the year has worn on,” said Dr Tim Denison, director of retail intelligence at Ipsos Retail Performance.

Crowdfunding course helps entrepreneurs find investment

CrowdCube, the crowdfunding platform, is offering an Accelerator course aimed at helping start-ups and small businesses to secure crowd-sourced finance. It will take place in London’s King’s Cross, beginning 25^th October 2012. Run in partnership with Capital Enterprise, the three-week course will provide ten hours of workshops to help fast track businesses with good ideas to get a listing on Crowdcube. The course covers finance, marketing and crowd psychology and it will help participants to hone their business plan and shoot a two-minute pitch video. There will also be opportunities to meet successful entrepreneurs and to pitch to potential investors. Tickets cost £200.

Blurring the boundaries — socialising at work

A study into the relationships of today’s Brits finds that 70% of people talk to their friends throughout the working day — thanks to social networking sites, text and email. The report, commissioned by print and post specialist Docmail, studies the impact of increased access to technology on modern friendships. The study of 2,000 adults aged 18-35 found the average adult now carries out 65% of their communication electronically via 140 texts, 72 Facebook interactions and 40 emails per month to friends and family. And 65% of communication is now conducted online. In addition, one third of those polled said they never go an hour without some sort of interaction with friends via Facebook, instant messaging program or text.