Category: Business

The cost of doing business in the UK has increased well ahead of the rate of inflation in 2013, according to new research from business group the Forum of Private Business (FPB). The FPB’s latest Cost of Doing Business member survey found that prices for micro, small and medium-sized employers have increased by six per … Continued

Optimism among small and medium-sized manufacturers grew at a record pace in the third quarter of this year, according to a survey by the Confederation of British Industry (CBI). The CBI’s latest SME Trends Survey found that demand grew significantly, with 42 per cent of SME firms reporting an increase in domestic orders and 33 … Continued

Guidance about how small firms and start-ups can access finance through crowdfunding has been published as part of Global Entrepreneurship Week, which ran from 18-24 November. Crowdfunding involves people pooling their money, usually via an online platform, to invest in an initiative or idea  being run by others. Crowdfunding for businesses usually sees the investors … Continued

Research has found that 55 per cent of businesses believe they would cease trading as a result of the long-term incapacity, illness or death of a key employee. However, only one in five companies has key person insurance in place to provide cover in such an emergency. Other findings from the Scottish Widows 2013 Business … Continued

Employee benefits, such as childcare vouchers or a pool car, can help businesses to improve staff retention, absence rates, productivity and relations. Recent research by the Chartered Institute of Personnel and Development (CIPD) shows that more employers and HR professionals are aligning their staff benefit packages with the company’s objectives. The research revealed: • firms … Continued

The UK’s small and medium sized enterprises (SMEs) could be losing up to £3.7 billion as a result of poor internal systems and financial accounting, according to a recent survey by business software provider Exact. Some SMEs admit to failing to invoice for services worth more than £10,000. The nationwide survey found that: • One … Continued

A reminder that the Auto Enrolment Scheme imposes a legal obligation on employers to enroll employees into a pension scheme that meets certain standards. The start date for auto enrolment varies, but all employees aged between 22 and the state pension age must be enrolled into a pension scheme, unless they earn up to the … Continued

The UK’s 1.5 million micro businesses will now be able to prepare and publish much-reduced financial statements, as the Government’s drive to reduce the red-tape burden on businesses continues. A micro business has: • a balance sheet total of no more than £316,000 • a net turnover of no more than £632,000 • 10 (or … Continued

New guidance for businesses on securing bank finance has been released by two leading membership organisations from the business and banking sectors. The Federation of Small Businesses (FSB) and the British Bankers’ Association (BBA) joined forces as part of Small Business Advice Week 2013, which ran from 2-8 September. The top five tips are: 1. … Continued

The NMW rates will increase from 1 October 2013: • the adult rate (21 years plus) will increase by 12p to £6.31 an hour • the 18-20 year old rate will increase by 5p to £5.03 an hour • the 16-17 year old rate will increase by 4p to £3.72 an hour • the apprentice … Continued