Archive for the ‘Business Advice’ Category

New year business resolutions

Posted on: January 10th, 2019 by Judith Mallen No Comments

The beginning of a new year is the perfect time to reflect on what your business has achieved over the last year, while also setting some goals for the year ahead. That could be cutting out bad business habits or opening yourself up to new opportunities. (more…)

Businesses call for more government support

Posted on: June 14th, 2018 by Sarah Case No Comments

Four out of five entrepreneurs in the UK believe the government could do more to support their small business, research claims.

Aldermore surveyed 1,799 people, including 642 small business owners, and found 79% of respondents believed existing initiatives did not provide enough support to SMEs.

Apprenticeship levy funds go towards the training of apprentices, but only 36% of SMEs polled were aware of the funding and only 4% had accessed this form of government support. (more…)

Late payments affect almost half of small businesses

Posted on: May 10th, 2018 by Sarah Case No Comments

Almost half of small and medium-sized businesses have struggled with late payments in the last year, according to research by the Institute of Directors (IoD).

Of the 787 business leaders surveyed, 48% have faced issues with late payments since April 2017.

Almost a third (31%) said this was the result of an “excessively bureaucratic payments system” in the company being invoiced. (more…)

Smallest firms hit by higher pension costs

Posted on: May 10th, 2018 by Ian Thomas No Comments

Startups and the smallest businesses are having to absorb higher pension costs as the new tax year gets under way.

The Federation of Small Businesses (FSB) warned that the doubling of minimum employer contributions into workplace pensions from 6 April 2018 will “hit the very smallest firms and startups the hardest”.

Firms in labour-intensive industries – such as retail, childcare and construction – will reportedly feel the impact most acutely. (more…)

Clipping the wings of phoenix companies

Posted on: April 10th, 2018 by Sarah Curzon No Comments

A guide to measures which discourage ‘phoenixing’ of companies.

Companies can fail for several reasons and, for the most part, these aren’t the result of wrongdoing by the directors. For this reason, it’s perfectly legal to start a new company after an old one has become insolvent.

However, there are a number of rules that surround carrying on a similar business through a new company after the original company has gone into insolvency.

Known as ‘phoenixing’, this practice transfers the business, but not the debts, of the insolvent company to a new company.

But what is the problem with phoenixing, and what does the law say about it? (more…)

Small firms not ready for data protection shake-up

Posted on: April 10th, 2018 by Sarah Case No Comments

Small businesses are worryingly underprepared with little over a month to go before new data protection regulations are introduced.

The Federation of Small Businesses (FSB) claims 33% of SMEs have not started preparing for the EU-wide General Data Protection Regulation, which takes effect on 25 May 2018.

A similar number (35%) have only recently started preparing for it, with 52% of those approaching the Information Commissioner’s Office (ICO) for advice. (more…)

From sole trader to a limited company

Posted on: April 9th, 2018 by Sarah Curzon No Comments

What to expect from incorporating your business.

With a new tax year upon us, many sole traders will be reviewing their business structure and considering whether it’s worth switching to a limited company.

There’s no denying that incorporating a business proved popular in 2017, with Companies House reporting a 7% rise in the number of actively trading companies – bringing the UK total to 1.9 million. (more…)

Small businesses face skills gaps

Posted on: January 10th, 2018 by Sarah Case No Comments

Small businesses are experiencing skills shortages in both their workforce and their recruitment processes, causing concerns for future productivity.

The Federation of Small Businesses (FSB) surveyed 1,203 small business owners and found that 46% lack a fully proficient workforce.

Additionally, almost a third (30%) of business owners who have recruited in the last 12 months reported facing skills shortages. (more…)

Number of businesses soars to 5.7m

Posted on: January 10th, 2018 by Sarah Curzon No Comments

The number of private sector businesses in the UK hit a record high of 5.7 million at the start of 2017, according to government figures.

Annual statistics from the Department for Business, Industry, Energy and Strategy showed a year-on-year rise of 197,000, compared to the same time in 2016.

The number of firms in 2017 is also 2.2 million higher than at the start of the millennium, with 4.5 million businesses in operation back in the year 2000. (more…)

Brexit: The rise and rise of the ‘staycation’

Posted on: July 11th, 2016 by Matthew Thomas No Comments

Matt ThomasOn Thursday 23 June the UK voted to leave the European Union.  What does this mean for the country’s tourist industry when we consider that two thirds of visitors to the UK and nearly three quarters of business visitors to the UK are from EU Countries.

We have already seen a fall in the value of the pound; it will now buy you fewer Euros or Dollars.  When holidaying abroad the cost of accommodation will have risen and spending money will not go as far.  If people find foreign holidays significantly more expensive and with more and more of us choosing to book holidays late we may choose to stay and holiday at home in the UK.