Late payment action, high tech funds, and a looming recession - here's your need-to-know business news roundup.
Small business groups have called on the government to crack down on late payment.
A coalition of groups including the Forum of Private Business have encouraged business minister Mark Prisk to take steps to end the culture of late payment. [Telegraph]
The government has announced a £75 million fund to help high tech small and medium sized businesses.
The fund is designed to give firms access to cash and facilities in order to bring products to market. [NDS]
Britain’s recession next year will be worse than previously thought according to new figures.
A report from the Standard Chartered Bank suggests that the UK economy will shrink by 1.3 per cent during 2012. [ThisIsMoney]