The is4profit team, Author at Business advice from is4profit | Page 8 of 375's Posts

Number of UK Self-Employed on the Rise

Number of UK Self-Employed on the Rise

New Office of National Statistics (ONS) figures has revealed that the number of self-employed individuals has risen by 30,000 in the three months to September – compared to the same period in 2014. The news follows a seven-month period of decline in freelancer numbers and coincides with a record high in employment numbers. Discussing the figures, Simon McVicker, IPSE’s policy director, commented: “The figures show the resilience of the self-employed sector in what is becoming an increasingly difficult regulatory environment. “Make no mistake, independent professionals are a huge contributor to the flexibility and growth of our economy, they are here to stay.” For more advice and information regarding self-employment, check out our sister site Startups.co.uk’s section on freelancing a... »

New Regulation Expected for Payday Loan Comparison Websites

New Regulation Expected for Payday Loan Comparison Websites

Payday loan comparison websites (PCWs) will have to get to get to grips with new regulation following a recent update from the Financial Conduct Authority (FCA). The FCA has formally responded to the investigation carried out last November by the Competition and Market Authority (CMA) which is working on remedies to high-cost-short-term lending companies (HCSTS), or those offering payday loans. This response follows the introduction of a price cap on payday loans introduced in January 2015 that limits the amount payday lenders can charge to 0.8% daily interest or £124 per £100 borrowed. In an effort to increase competition in the industry, safeguard customer details and improve transparency, the CMA presented six remedies to improve competition: Enable consumers to search according to the ... »

A Business Guide to Going Green

A Business Guide to Going Green

Everyone worries about the environment, but these worries are often forgotten when it comes to running a business. Many companies avoid being green due to fears about cost – yet failing to follow legislation can end up costing you a whole lot more. It’s imperative that you find out what legislation there is, and how it affects your firm. But being green doesn’t just have to be a method of damage limitation – it can reduce your costs and give you a considerable edge over the competition. The guide covers why environmental concerns are your concerns, how to devise a plan for addressing them, and what actions you can take to ease your impact on the environment. Why bother being a green business? Our understanding of the impact that business operations have on the environment has grown massive... »

Almost One Million Small Businesses Plan to Trade Overseas by 2025

Almost One Million Small Businesses Plan to Trade Overseas by 2025

880,000 small firms plan to expand overseas by 2025, making exporting the second biggest element to small business’ growth strategies, according to research by Everline and the Centre for Economic and Business Research (Cebr) as part of its Small Business Tracker. Despite ambitious export plans, Confederation of British Industry (CBI) data shows that small business exports are at their lowest rate since 2009 with 46% of companies having revealed that their export levels have fallen with many citing price constraints as the main cause. Hiring more staff was found to be the preferred method of growth among small businesses, with 39% small firms naming recruitment as integral to their expansion plans. Regarding exporting, responses varied according to region and industry. London-based busines... »

Government Attempts to Reassure Small Businesses over Apprenticeship Levy

Government Attempts to Reassure Small Businesses over Apprenticeship Levy

The government have tried to reassure small businesses that they will not be affected by the introduction of the apprenticeship levy, stating that only large companies will be forced to pay it. However, the chancellor and government have failed to disclose what a larger company constitutes, with rumours suggesting that the Treasury is considering including businesses with 50 employees. In an interview with The Financial Times, one Whitehall aide said; “We have been clear that it is larger firms that will be focused on,” but the government still haven’t finalised what the cut-off point is. In the summer Budget, George Osbourne announced that large employers would have to pay a percentage (suggested as 0.5%) of their payroll to fund the apprenticeship programme. Under the programme, a compan... »

Europe Remains the Top Export Market for UK Small Businesses

Europe Remains the Top Export Market for UK Small Businesses

UK small business transactions with Europe rose 59% to a staggering £198m in October 2015, indicating that UK company still rely heavily on Europe for overseas trade – research from World First has found. The UK’s reliance on European trade clashes with David’ Cameron’s recent mission to open up trade with China and has also raised concerns in light of the ongoing Brexit discussions. While small business trade with China has increased, with the amount of sterling traded in for yuan rising by 238% to £7.25m last year, UK companies still conducted 22-times more transactions with European markets. Chief economist at World First, Jeremy Cook, commented: “It’s clear that any decision to re-evaluate Britain’s relationship with the EU needs to be carefully considered given the volume of tra... »

Almost Half of UK Employees Plan to Leave Current Employer

Almost Half of UK Employees Plan to Leave Current Employer

British employees were found to be the least loyal workforce in Europe in a survey by ADP, with 47% planning to move jobs in the next three years – 13% higher than other European workers. The research also suggested that UK workers don’t see long-term careers in their current organisation with only 17% of respondents looking to spend the duration of their profession with their current employer. The report, which surveyed 11,000 workers from across Europe, suggests that the UK’s growing economy has had a part to play in the increased competitiveness for staff. Employee confidence in the UK economy and the job market has both increased in the last year, rising to 77% and 81% respectively. As competitiveness for staff increases, businesses are advised to consider global talent. But UK employe... »

How to Implement a Cost Control System in Your Business

How to Implement a Cost Control System in Your Business

Although it might be a painstaking process, assessing your business costs and implementing a cost management system is worth it. Smart cost control can bring immediate benefits to your company, as well as lay the foundations for greater efficiency going forward. But it is important to cut costs wisely – only slashing away here and there will just bring about worse quality and poor morale. Read on for comprehensive information on how to properly introduce a cost control system into your business, and how to avoid some common pitfalls. What are my first steps in cost control? Before you look at cost-saving measures, your first step in controlling your overheads is to look carefully at what you’re currently spending. Start by identifying your ‘cost centres’. Cost centres are the parts of your... »

Small Firms Potentially Losing up to £110m Due to Unstable Currencies

Small Firms Potentially Losing up to £110m Due to Unstable Currencies

The UK’s small and medium-sized companies are potentially losing out on up to £110m every year while making overseas transactions due to unstable currency markets, a report by moneycorp has revealed. According to the research, small overseas traders could be unknowingly falling victim to currency market fluctuations and, while the number of UK small businesses exporting has increased (the latest figure totalling 223,000), this could be detrimental to a small firm’s exporting success. The findings come just one day after a report by the Confederation of British Industry (CBI) announced that small business export rates have hit their lowest rate since the recession. Andy Reid, a managing director at moneycorp, commented: “British businesses have a huge amount to offer to the internatio... »

A Small Business Owners Guide to Using a Consultant

A Small Business Owners Guide to Using a Consultant

Whether for marketing, efficiency or another purpose, bringing a consultant is a necessary part of running any business. Choosing the right consultant is of course crucial, but it is only half the skill of maximising the return on your investment. This article covers how to manage a consultant effectively in order to get the best possible results. What should my objectives be when bringing in a consultant? Clarity is the key word here. If you are not entirely clear about what you want to achieve, it will be difficult to use a consultant effectively. There are many ways you can narrow down your objectives but first start by working out the end goal. Thinking in broad terms, what is it you want? Are you expecting a concrete, tangible output such as an increase in sales, or more ephemeral obj... »

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