Geniac

Business Owners Warned They’ll Struggle If They Juggle

Business Owners Warned They’ll Struggle If They Juggle

UK small business owners are warned they’ll experience stunted growth if they continue to take a DIY approach to admin, according to a report by Geniac. The survey of 514 enterprise owners revealed that 61% of respondents take on admin responsibilities such as accounts, HR and legal issues themselves – rather than delegating to staff or outsourcing. Those attempting a jack of all trades-style leadership, however, may find their company will suffer as result. 33% of those surveyed admitted they neglect brainstorming new ideas in favour of completing more menial and mundane tasks, while 28% put aside working on new business proposals and products – with 27% even forgoing spending time with their customers. Despite this, business owners do seem aware of the perils of such an approach wi... »

Concerns Among Small Businesses as Deadline For Auto-Enrolment Looms

Concerns Among Small Businesses as Deadline For Auto-Enrolment Looms

52% of UK small and micro businesses are not confident that their business will be ready to offer staff a workplace pension scheme despite the goverment’s fast-approaching auto-enrolment deadline. That’s according to a new report by Geniac, which surveyed 514 UK businesses with turnover of £500,000 or less. By law, all small businesses will be required to provide a workplace pension for eligible staff by 2018 while firms with 30 staff or fewer have to do so by April 1 2017. Businesses without PAYE schemes must then start the auto-enrolment process from April 1. Enterprises that fail to implement such practices could face fines of up to £500 a day, with the survey having suggested that these fines could affect over half of all small enterprises. Mike Galvin, co-founder of Geniac... »