Auto-Enrolment Among Biggest Concerns for Small Businesses in 2016
UK small enterprises have also cited raising finance and entering new markets as the biggest challenges they face this year
Auto-enrolment – the government’s new legal requirement for businesses to automatically enrol staff into a qualifying pension scheme – is a major concern for one in five UK small businesses this year, according to a new report by Exemplas.
Of those who identified the auto-enrolment pension scheme as a challenge, some felt they were even being bullied to comply with it.
The survey, of 150 managers of small to medium enterprises, found that other big challenges small businesses believe they face in 2016 are finding employees with appropriate skills (45%) and raising finance (32%).
Nearly 32% of those surveyed also cited finding new business and entering new markets a major concern for the next 12 months.
Other potential problems identified included challenges and costs of employee rights and restrictions (26%), the cost of training, finding the appropriate trainers (24%) and keeping up with industry-specific regulations (21%)
Jill Barnes, the chief executive of Exemplas, said: “Our detailed research and conversations with managers from a range of UK small businesses shed light on a number of pressing issues facing the sector as we enter 2016.
“The coming year is likely to prove a challenge for small and medium-sized enterprises in many ways, from the perceived skills shortage among young recruits, to the ability to diversify and enter new markets, and also keep up with ever-changing industry-specific regulations.”