Big firms miss out on £1bn

BIG business is missing out on nearly £1bn a year in tax breaks and government grants.

Larger companies, those with 1,000 or more employees, are failing to take advantage of schemes designed to aid business development and investment in people.

Only 1% of eligible businesses, for example, have taken up Business Link grants, leaving about £150m unclaimed annually, according to new research.

The home computing initiative, which offers National Insurance savings of up to £320 per new employee, is used by only 3% of big firms.

The value of unused grants is £416m a year. And there is another £67m unclaimed for research and development.

'Many businesses are seriously missing out on a great opportunity to do something for their employees while at the same time contributing to the organisation's bottom line,' said Ian Parkes, director of market researchers Coleman Parkes, which carried out the research for BT Home Computing.