News

Our small business news section covers the latest reports, research, stories and updates on regulations that affect the UK’s small and medium enterprises.

Making Tax Digital Causing Half Of All Small Businesses To Lose Money

Making Tax Digital Causing Half Of All Small Businesses To Lose Money

Nearly half of all small businesses have lost money because of Making Tax Digital, according to a report by Pandle. The survey of 1,000 UK small firms has revealed that 49.23% have lost money by making mistakes on the new digital form of self-assessment – despite believing their suitably informed about the process. A government initiative, Making Tax Digital will see the process of self-assessment become fully digitalized by 2020 – meaning all business owners will submit and manage their tax returns online. Making Tax Digital Explained 63% of respondents feel “prepared” for the change – with just 20% unaware of the concept. However, 48.3% of small enterprise owners believe the process of self-assessment will be become more inconvenient once its digitalized – with 13% concerned they won’t b... »

99% Of Senior Finance Executives Say Their Business Will Increase Spending Next Year

99% Of Senior Finance Executives Say Their Business Will Increase Spending Next Year

99% of senior finance executives say their business will increase spending and investment over the next 12 months, according to a survey by American Express. The 2017 Global Business and Spending Outlook, which surveyed 100 senior finance executives at companies in the UK with annual revenues of $500m or more, revealed that businesses are bullish despite political and economic uncertainty. In order to stay competitive against international competition, respondents are planning to spend more on customer service (67%), technology infrastructure (51%) and recruitment (48%) as a priority. While businesses are also looking to strengthen financial reporting and compliance (37%), production inputs (35%) and advertising, marketing and PR (31%) – as transparency becomes increasingly important for c... »

Bosses Happier Than Their Workers, As Half Of Employees Feel Mental Health Support Is Inadequate

Bosses Happier Than Their Workers, As Half Of Employees Feel Mental Health Support Is Inadequate

A majority of UK business owners are happier than their workers, as employees believe the mental health support they receive in their workplace is inadequate – according to a report by OfficeGenie.co.uk. The Workplace Happiness Report, which surveyed over 2,000 office workers, revealed that bosses rank 4.20/5 in the report’s ‘happiness scale’ – 25% higher than low-level employees. Indeed, junior staff appear to be the unhappiest in their role, coming in at 3.40/5, while the average employee stands at 3.63/5. How To Spot The Signs Of Poor Employee Mental Health At Work Employees being overworked (47%) is cited as the biggest cause of stress by those surveyed, followed by a lack of control over the role (25%), and not feeling fulfilled (25%) – with junior staff particularly falling victim to... »

Investors Keeping An “Open Mind” About Brexit

Investors Keeping An “Open Mind” About Brexit

UK investors are keeping an open mind about the impact of Brexit, with a significant number seeing life outside the EU as an opportunity for investment– according to a report by Market Financial Solutions. Their survey of 1,000 UK investors revealed that just 9% believe the triggering of Article 50 has derailed their plans for the next two years, with 39% viewing the next 24 months as good time for short-term investment. With business rates set to increase by as much as 18% over the next five years, 37% of respondents currently view buy-to-let as an attractive investment, while 45% are now more open to other investment classes because of low interest rates. Despite the relative optimism among those surveyed, 33% are only taking a short-term approach to investments – a signal of how politic... »

Businesses Ignore ‘Doom And Gloom Experts’ To Go For Growth

Businesses Ignore ‘Doom And Gloom Experts’ To Go For Growth

UK small businesses are ignoring ‘doom and gloom experts’ and focusing on growing sales in the coming months, according to a report by eBay. Their survey of 416 small firms who hold an eBay account revealed that 46% are optimistic about their future growth prospects, compared to just 19% who are pessimistic. Despite months of economic uncertainty, it appears that respondents are growing tired of negative commentary concerning the UK economy – with 52% fed up with news stories that don’t affect their business. Indeed, business owners see themselves as ‘masters of their own destiny’ with 72% believing it’ll be their own actions that make or break their enterprise. When it comes to other potential risks that could influence their growth, a reduction in consumer spending (41%) topped the... »

Larger Businesses Must Now Publish Gender Pay Gap Figures

Larger Businesses Must Now Publish Gender Pay Gap Figures

UK businesses with more than 250 staff must now publish how much they pay their male and female workers, as new government legislation comes into effect. Its estimated that gender pay gap reporting will affect 9,000 employers with over 15 million employees – with relevant firms required to submit all data by April 2019. As part of the new regulations, employers will be required to: Publish their median gender pay gap figures Publish their mean gender pay gap figures Publish the proportion of men and women in each quartile of the pay structure Publish the gender pay gaps for any bonuses paid out during the year It’s hoped that such transparency into how companies pay their male and female workers will help end the gender pay gap – which currently stands at 18.1%. Justine Greening, minister ... »

Over Half Of All Small Business Owners Don’t Know That R&D Tax Relief Can Help Them

Over Half Of All Small Business Owners Don’t Know That R&D Tax Relief Can Help Them

51% of small business owners haven’t heard of research and development (R&D) tax relief, according to a report by Catax. The survey of 500 enterprise owners revealed that, even among those that are aware of the incentive, a large percentage don’t believe their own business would qualify. 44% of respondents mistakenly believe that R&D is solely reserved for specialist tech, drug and science businesses, whereas in reality, R&D can potentially be claimed by any firm in any sector. 57% of those surveyed even say they’ve “developed a new product or service, and/or implemented a new business process over the past two years” — the basic requirement for an R&D tax claim. Another misconception, believed by 43%, is that any eligible R&D activity has to be successful and integrate... »

‘Robot Wars Is Scaremongering’: Majority Of Manufacturers Say Automation Will INCREASE Jobs

‘Robot Wars Is Scaremongering’: Majority Of Manufacturers Say Automation Will INCREASE Jobs

The increased introduction of robotics and artificial intelligence (AI) in the UK workplace will actually create, not destroy, jobs – according to a new report by The Chartered Institute of Ergonomics and Human Factors (CIEHF). The survey of 1,000 manufacturing professionals has revealed that 63.3% have never witnessed an employee lose his/her job as a result of automation, with 36.7% saying such a process actually created jobs. These figures come in stark contrast to findings released two weeks ago, when it was reported that 30% of the UK workforce were at risk of being made redundant due to increased AI. Indeed, respondents appeared to have shrugged off such fears – with 72.6% believing society is being scare-mongered into thinking robotics and automation are a negative progression. How ... »

3 In A Row: Small Business Confidence Up For Third Successive Quarter

3 In A Row: Small Business Confidence Up For Third Successive Quarter

UK small businesses confidence has increased for a third consecutive quarter, according to a report by Capital Economics. The SME Growth Tracker of 2017 has revealed that, on average, small and medium sized enterprises are predicting a 2.3% increase in revenue for the coming 12 months. When broken down by region, firms in the North East are the most optimistic in the country, with a SME Confidence Index score of +11 – far acceding the national average. In contrast, business owners in Wales are more pessimistic about the future, with their SME Confidence Index score of -2 suggesting they believe they’ll suffer a dip in performance over the next 12 months. Despite the general optimism, it appears that businesses are worried about the potential of rising inflation and increased supply costs, ... »

Businesses Urged To Create “Illusion Of Old Britain” As Nostalgic Consumers Crave Old Currency

Businesses Urged To Create “Illusion Of Old Britain” As Nostalgic Consumers Crave Old Currency

UK small businesses have been urged to create an “illusion of old Britain” and allow consumers to pay in pounds, shillings and pennies, according to a report by the Small Firms Index (SFI). The survey of 1,971 UK shoppers revealed that the triggering of Article 50, coupled with the introduction of the new £1, has led to consumers hark back to old Blighty – with businesses expected to follow suit. 36% of all respondents said they were keen to return re-adopt old terminology when shopping, with consumers in Boston (75.6%), South Holland (73.6%) and Castle Point (72.7%) the most enthusiastic. In contrast, those surveyed in Hackney were less than happy to accept the opinions of others – with 70% suggesting London businesses should adopt a more “Euro-friendly” environment. . While pounds, shill... »

Page 3 of 30312345»