Shane Donnelly's Posts

Businesses Urged To Offer Benefits As Financial Pressure Among Staff Rises

Businesses Urged To Offer Benefits As Financial Pressure Among Staff Rises

UK small business owners have been urged to consider what benefits they can possible offer their employees, as financial pressures rise. According to the Employee Benefits Trends Study 2017 by MetLife UK, 55% of UK workers  say they highly value the benefits they receive at work – a 25% increase from the same survey in 2015. Encouragingly, 52% of business owners now understand the personal financial pressures on their employees – and this is prompting them into action. Not just for current subordinates, business owners are also utilizing benefits packages in the recruitment process with 73% promoting their additional bonuses while hiring – compared to just 61% in 2015. Its suggested business owners should consider what financial perks they can offer their employees, as just 39%... »

Businesses Warned They’ll Need to Adhere to GDPR Regardless of Brexit

Businesses Warned They’ll Need to Adhere to GDPR Regardless of Brexit

UK businesses are being warned they still need to adhere to the new General Data Protection Regulation (GDPR), despite the fact the UK is set to leave the European Union. According to a survey by Webroot, there is a strong level of misunderstanding among small business owners as to whether the EU-wide legislation, which covers how large businesses hold and store consumer data, will hold any weight in a post-Brexit Britain. Indeed, 43% of businesses admitted they were uncertain whether or not they would have to remain compliant to GDPR after Brexit – with 6% adamant they wouldn’t. Coming into effect on 25 May 2018, the new legislation will, among other things, require firms with more than 250 staff members to hire a data protection officer. However, firms that hold the data of EU citizens w... »

Apprenticeships: Why Should Small Businesses Consider Taking Them On?

Apprenticeships: Why Should Small Businesses Consider Taking Them On?

Amidst the ongoing Brexit discussions and a recent general election campaign, small business owners would be forgiven if they hadn’t noticed that a revolution of sorts has been taking place in the world of apprenticeships. Schemes enabling individuals to gain a route into the workplace through apprenticeships have been a part of the employment landscape for several decades. But during 2017, two significant changes are taking place aimed at making apprenticeships better quality and more valuable for the employee; as well as a more attractive proposition for the end employer. At the end of May, all UK businesses with paid a bill of more than £3m – having made their first payment towards the new apprenticeship levy. While these outgoings won’t affect the UK’s 5.5 million small businesses, the... »

To Rent or Buy Your Property? What Small Businesses Should Consider

To Rent or Buy Your Property? What Small Businesses Should Consider

Successful businesses are often faced with the challenge of outgrowing their current premises, and needing to relocate to a larger space. One of the fundamental decisions to be made at this juncture is whether to rent or buy. Securing a property which suits the structure of the business is crucial to its future success. The nature of the business’ requirements and the local market are both factors to give regard to when deciding whether to rent or to buy. However, there are many additional issues to consider. Choosing to rent Many businesses choose to rent their commercial premises due to the fact that there are generally a far greater number of rental opportunities in the market place and a significantly lower amount of upfront capital is required. When a business rents premises, they usu... »

Tax Planning: What to Consider When You’re Thinking Of Selling Your Business

Tax Planning: What to Consider When You’re Thinking Of Selling Your Business

One of the key issues for business owners planning to retire or sell a business centres on how best they plan their tax liability. To maximise the best outcome business owners should plan well in advance. In our experience, it is never too early to consider financial planning and whilst ‘younger’ businesses may not place this at the top of the agenda right now, the reality is that planning at an early stage can be structured to help with current tax liabilities as well as those on retirement or sale. Capital Gains Tax Both Capital Gains Tax (CGT) and Inheritance Tax (IHT) need to be considered carefully as part of the planning exercise and examined in close detail – without appropriate planning for these two very real scenarios business owners might find themselves or their ‘estate’, handi... »

Does Your Business Have Unused Laptops Lying Around? You Could Be Violating Data Law

Does Your Business Have Unused Laptops Lying Around? You Could Be Violating Data Law

UK small businesses that store unused devices such as mobile phones, tablets and laptops could unknowingly be violating corporate governance and data protection laws – according to a report by CORETX. The survey of 100 IT managers revealed that 47% of all small firms have up to 50 devices containing sensitive information that is not stored securely – with 23% admitting they are unable to accurately predict how many neglected pieces of tech they currently possess. While this might not seem too much of a problem on first glance, when analysing the type of information being stored – it suggests businesses aren’t doing enough to protect important information while also misusing company equipment. 83% of those surveyed have found concerning, personal data on devices, followed by personal emails... »

New Government Urged To Help Stagnant Services Sector

New Government Urged To Help Stagnant Services Sector

Calls are being made for the incoming government to address the stagnant services sector which is “grinding the economy to a hault” – according to a report by BDO LLP. Its latest Business Trends Report, which projects firms’ order expectations over the next three months, has revealed the BDO Index has fallen to 95.0 in May from 95.3 in April, the lowest level since June 2013. Small businesses within the services industry have reported that growth in their order books has stopped – with the slowdown nearing recessionary conditions. While there has been an overall downward trend since August 2015, it has become more pronounced since the EU referendum last year – with a significant drop in the value of the pound and in consumer spending. In contrast, however, manufacturing output is increasin... »

A Quarter Of Businesses Put A Hold On Any Promotions In Order To Afford National Living Wage

A Quarter Of Businesses Put A Hold On Any Promotions In Order To Afford National Living Wage

A quarter of UK small businesses have put a hold on any employee promotions or pay rises because they can’t afford the national living wage – according to a report by XpertHR. The survey of 212 businesses and 541,340 employees has revealed that 30% of firms had to increase pay for at last some workers in April 2016 – when the minimum wage officially rose from £6.70 to £7.20. At the time of its introduction, workers eligible for the national living wage (who were previously on the national minimum wage for workers aged 21 and over) would have seen their pay increase from £6.70 to £7.20 an hour, an increase of approximately 7.5%. It’s suggested that many businesses failed to plan adequately, or even expect, the rise – and it now appears business owners are taking their financial frustrations... »

Concern Over Internal Fraud Among UK Small Businesses Rises 138% In Just One Year

Concern Over Internal Fraud Among UK Small Businesses Rises 138% In Just One Year

Concerns over internal fraud among UK small businesses has risen 138% in the past 12 months, according to a report by Bottomline Technologies. The UK Business Payments Barometer has revealed that while firms appear to be strengthening their defences – a majority remain in the dark over whether they are actual victims or not. Indeed, 56% of financial decision makers surveyed admit they don’t know if they’ve been targeted by fraudsters or not – suggesting businesses still aren’t doing enough to detect if they are being swindled by their own employees. It suggested that a rise in ‘salami fraud’, where thieves steal minimal amounts of money (even as low as 1p or 2p) that builds up over time, is a possible factor as to why small firm owners remain unsure about internal fraud. Despite the vague ... »

Maternity Leave: What to Expect When They’re Expecting

Maternity Leave: What to Expect When They’re Expecting

Anne-Marie Slaughter, Hillary Clinton’s former adviser, hit the headlines in April 2017 by claiming a year’s maternity leave is too long for working mothers. Maternity leave is a controversial subject, but communication is vital – particularly for expectant mothers and their employers. Finding cover, training and changes to working hours upon return are just some of the worries employers may have at the back of their mind when a member of staff announces a pregnancy. Eligible women are entitled to up to 52 weeks of maternity leave by law, 39 of which can be paid. Whether you agree that an upper limit of a year is too long, there is little doubt that this period must be adequately planned for. Options The decision of whether to hire a new member of staff on a temporary basis, or cover the r... »

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