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UK General Election 2017: The Impact Of The Pound For Small Businesses

UK General Election 2017: The Impact Of The Pound For Small Businesses

Volatility in the currency markets is a regular feature during and after a UK general election and unexpected volatility on the pound can cause headaches for small businesses. We can never guarantee the future performance of a currency and businesses need to be aware of the potential pitfalls that unexpected movements will have on their business, plus, what they can do to minimise these risks. What can we now expect on the currency markets as we learn more about the new government, and what can businesses do to mitigate the uncertainty, avoid any nasty surprises and keep plans on track? Elections are always important events for exchange rates Political uncertainty is one of the key drivers of the foreign exchange market with uncertainty usually translating into weakness for sterling. Once ... »

Is Your Business Covered Against a Cyber Attack or a Data Breach? Here’s What Insurance You Need

Is Your Business Covered Against a Cyber Attack or a Data Breach? Here’s What Insurance You Need

As we can see from the recent cyber attack on the NHS and other businesses across the world, cybercrime is on the increase and experts predict that attacks like these are set to become even more common place, affecting businesses of all sizes, across all industries. Staggeringly, over half of all British businesses experienced a cyber-attack in 2016, costing as much as £30bn. Once a cyber attack has occurred it is often financially damaging for a business and can damage business reputations, with ongoing disruptions affecting the day to day running of a business. This is not just an issue for big businesses. A recent study from the Federation of Small Businesses (FSB) reported that two thirds (66%) of small businesses have been a victim of cybercrime in the last two years, with those affec... »

These Are THE Most Annoying Business Buzzwords

These Are THE Most Annoying Business Buzzwords

Buzzwords continue to hold sway in workplaces across the UK. Chances are you’ve heard them being bandied around your company from time to time. However, recent research from the UK’s largest independent job board, CV-Library, has found that buzzwords aren’t all that popular in the workplace. The research, which surveyed over 1,000 UK workers, found that only 34.7% of employees admitted to using buzzwords. Alongside this, almost three quarters (74.1%) of workers felt that buzzwords were only used to make individuals sound professional or intelligent. Is there a need for buzzwords? It may be that buzzwords are the norm in your company; you’ll likely hear terms such as “circle back”, “hit the ground running” or “win-win” used across your workplace on a daily basis. This could be used in an ef... »

A Small Business’s Secret Weapon: An EAP

A Small Business’s Secret Weapon: An EAP

What is EAP? It stands for Employee Assistance Programme, and it could be a small business’s secret weapon. An EAP is a range of online and in-person support services that help staff through both personal and professional problems while promoting general wellbeing. They give confidential advice in several ways: over the phone, online, via apps or in person, as well as referring people on to other professionals like counsellors. When businesses offer such care to their staff, they get the best out of them. And that helps business get better. Here’s how… 1. Saves businesses money Many think that it isn’t easy to measure how much you can save through intangible gains like improved morale, wellbeing and a more harmonious working environment. But with fewer days lost to sickness, smaller staff ... »

What Those In Generation Z Are Expecting From The Workplace

What Those In Generation Z Are Expecting From The Workplace

Over the past decade, millennials have been high on the agenda. Not only as a key consumer demographic but also in terms of talent acquisition. After all, companies want to hire the best and there has certainly been an outstanding pool of millennial talent. Despite this, millennials have unfortunately developed a reputation of being ‘job-hopers’. Their lack of loyalty has certainly brought displeasure to many companies, who often spend a lot of time training and developing their human resource. With generation Z coming of age and on the verge of entering the workforce, are companies at the apparent risk of facing the same conundrum as they have been with the millennials? Early indications seem to suggest that is certainly going to be the case, as 83% of those classified as generation Z see... »

Managing Cashflow: What The Latest Reports Tell Us

Managing Cashflow: What The Latest Reports Tell Us

A raft of new reports on small businesses and cashflow last month has underlined the unnecessary time and money being spent on managing company cash flow. While technology has enabled businesses to simplify many aspects of their day-to-day operations, daily cashflow management is still a challenge for UK small businesses. A recent survey found that small firms are collectively losing over £8.72bn every year as a result of the time taken to complete weekly finance related tasks. Another study revealed that more than six out of 10 business owners regularly, or occasionally, draw upon personal finances like a personal credit card to support their business. And with 15% of small firms also saying that they found this to be an issue, what can we do to avoid unnecessary cashflow volatility and b... »

How to Test your Business Ideas with Minimum Risk: 5 Tips

How to Test your Business Ideas with Minimum Risk: 5 Tips

Small businesses need to work a little harder than businesses that have already established themselves, and risks are generally greater towards these entities. Small businesses often lack a failsafe, and they can’t afford to waste funds or have an idea plummet in a big way. This can pose challenges when a small businesses wants to grow, rebrand, or innovate. They need to be able to test their ideas, but they can’t afford to flop. It’s always possible to take a cautious approach that reduces the impact a potential failure may have on the future of your business. 1. Look at your competitors By checking out your competitors, you’ll be getting a good idea regarding how businesses like yours have successfully rolled out ideas or changes in the past. Did they start temporary, or give it their al... »

7 Interview Questions to Assess Cultural Fit

7 Interview Questions to Assess Cultural Fit

One of the most important things to assess is a candidate’s cultural fit. They could be great at what they do, but if they don’t mesh well with your company, they may not stick around for very long. You need to make sure the person you hire is going to form the right kind of professional bonds in your office and feel rewarded by the work that they’re doing. Culture counts for everything. 1. What are you passionate about? Most companies hold certain causes near and dear to their foundations. This includes charities and perspectives on what they’d like to achieve. Companies need passionate people to help them reach their goals, and even if the candidate’s passion isn’t exactly the same, you need to know that the passion is there. Conflicting passions can be problematic down the road, so it’s... »

Changes To Employment Law In April Your Small Business Needs To Know

Changes To Employment Law In April Your Small Business Needs To Know

1. Gender pay gap reporting A new law introduced on 6 April will require private sector employers with 250 or more employees to report on their gender pay gap each year. Employers are required to take a data snapshot of their pay data on the 5 April 2017 and report on specific calculations by the 4 April 2018. The report needs to be published on the company’s website and uploaded to a government website. Similar provisions are being introduced for public sector employers with a snapshot date of the 31 March each year 2. Apprenticeship levy From the 6 April, large employers with an annual playbill of more than £3m are required to pay an apprenticeship levy. This is set at a value of 0.5% of the total paybill with a £15,000 allowance from the government to offset against the payment. The lev... »

Religious Symbols In The Workplace: Still Safer To Allow Them

Religious Symbols In The Workplace: Still Safer To Allow Them

As you may be aware, the European Court of Justice (ECJ) has given a ruling on wearing religious clothing, such as Islamic headscarves, at work. Before explaining the ruling, I’ll say this – it remains safer to allow your workers to wear religious clothing or symbols. Banning such symbols may result in a finding of indirect discrimination. But what this ruling says is that if you do wish to project neutral corporate image, and you apply the same rule to every religious and political viewpoint, it might not be direct discrimination, and in some circumstances, it might be possible to justify the rule. The context The ruling relates to two cases. Both cases concern private employers and female Muslim employees. In both cases, there were rules against the wearing of visible religious symbols i... »

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