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Two senior managers at a Manchester-based support services specialist have bought the business. The buy-out of ID Support Services (IDSS) was led by founder and chairman Brian Dunn and chief executive David Metcalfe.
The managing director of networking specialist Axial Systems has led a buy-out at the company. Ash Hussain was joined by finance director Graham Linney in buying Axial, which supplies networking systems to the financial services, telecom and public sectors, for an undisclosed sum.
The value of initial public offerings (IPOs) on AIM in the first quarter of this year was £339 million, 70 per cent less than in the same period of 2007. Overall, companies on AIM raised £1.13 billion, 60 per cent less than last year’s £2.815 billion, according to research from advisory firm Grant Thornton.
If UK productivity equalled that of the US, each household would generate an extra £13,000 per year. But most businesses are still failing to capture meaningful data about productivity, according to a study from business advisory firm Grant Thornton.
Chancellor Alistair Darling has confirmed that capital gains tax (CGT) taper relief will be withdrawn from April, and a new rate of 18 per cent introduced. However, in response to widespread criticism of the move from the business community, he has also announced a ten per cent rate on gains of up to £1 million.
The average British company is hopeful about the year ahead, but much less so than a year ago, according to research from accountancy firm Grant Thornton. The firm’s business optimism index, on which a negative figure indicates overall pessimism, has plummeted to 14 per cent from 43 per cent in 2007.
The London Development Agency (LDA) is to invest a further £1.7 million in a programme which supports early-stage technology ventures in their search for funding. gateway2investment (g2i) will now expand its operations to assist a wider range of London-based enterprises.
