News Archive 2007
Entrepreneurs put in the hours
3 October 2007
Over a half of entrepreneurs in the UK clock up working weeks in excess of 48 hours, a new survey has found.
This is over the limit set down by the EU.
The survey, carried out by Abbey Business Banking, revealed that the average small business owner invests more than 50 hours each week in their work.
Self-employed tend not to look back
17 September 2007
Most people who take the plunge into self-employment think that they unlikely ever to go back to working for someone else, a new survey has suggested.
According to a poll conducted by Abbey Business Banking, over three-quarters of those who have given up jobs in order to set up their own businesses see self-employment as the future.
Employers sign up to Train to Gain
14 September 2007
Train to Gain, the government’s learning and training service for employees, has attracted substantial numbers of businesses in its first year, figures have shown.
According to the Learning and Skills Council (LSC), 52,000 firms have decided to participate in the scheme, which helps employers raise the skill levels of their workforces.
Company training schemes could get national recognition
13 September 2007
In-house training programmes run by large firms could win official accreditation from the government.
The Qualifications and Curriculum Authority (QCA) is investigating ways of incorporating company schemes into the national training system and turning them into recognised qualifications.
Commons committee gives support to local business tax
7 August 2007
Local authorities should have the power to levy a supplementary business tax to fund infrastructural projects, a Commons select committee has said.
The Communities and Local Government Select Committee has recommended that proposals put forward by Sir Michael Lyons in his review of local authority funding should be implemented.
Overhaul for small business service
24 July 2007
he government’s small business service is to be renamed the Enterprise Directorate. The new name is intended to reflect a change in emphasis in government policy towards small firms.
In the past, the focus has been on encouraging start-ups. Now the government wants to provide support directed at promoting growth among existing small firms.
Network created for women entrepreneurs
26 June 2007
Women who want to start up their own businesses will now be able to draw upon the experiences of a network of a thousand successful female entrepreneurs.
The network is the result of a government search for businesswomen who can act as role models and inspirations for other women who are facing the challenges of becoming their own bosses.
Self-employed failing to make adequate pension provision
20 June 2007
Self-employed people are not setting aside sufficient savings to fund their retirements, a new report has said. Nearly a third of them are not saving anything at all.
According to the Scottish Widows 2007 Pensions Index, 23 per cent of the population are currently putting nothing towards their retirements. But that figure rises to 30 per cent among the self-employed.
HMRC alerts taxpayers to frauds
19 June 2007
HM Revenue and Customs (HMRC) has warned that scammers are attempting to con taxpayers out of money by sending them fraudulent emails.
The emails purportedly arrive from HMRC and request that the recipient responds by supplying vital financial information, such as bank account numbers, or by paying money.
The scammers claim to represent a bogus HMRC department. The latest fake departmental names include the Inland Revenue Board, the Inland Revenue and Customs Board and Inland Tax Clearance.
Cons vary from a fictional “anti-terrorist certificate” that must be bought before HMRC will release an item in the post to an offer of compensation to victims of previous frauds.
Taxpayers are being advised to ignore dubious requests for information and to contact their accountants if they are unsure.
Regulatory effects on SMEs ‘not properly considered’
29 May 2007
The government does not properly consider the realities of running a small business when making Regulatory Impact Assessments, the Forum for Private Business (FPB) has claimed.
SMEs urged to mind their IP
30 April 2007
Small businesses could be missing out on valuable income from new technology or ideas because of uncertainty over their intellectual property (IP) rights, new research claims.
SMEs 'overlooked' in budget
23 March 2007
The majority of small businesses believe that this week's budget announcement will not help the bottom line, research conducted by Ipsos MORI has found.
Budget 2007: What it means for your business
21 March 2007
Corporation tax liabilities are going to increase as a result of Gordon's Browns announcements that the small companies' corporation tax rate is to increase. Some analysts have even suggested that small businesses will end up paying for the tax cuts that should benefit big business.
Budget 2007: What it means for you and your personal taxes
21 March 2007
Gordon Brown announced an unexpected 2p reduction in the basic rate of income tax this afternoon as he unveiled a budget for "families and fairness".
Groups warns of threat to self-employed
19 March 2007
Campaigners have urged freelancers and contractors to lobby the EU over a new Green Paper which they claim threatens the right to be self-employed.
The Professional Contractors Group (PCG) said the recent proposed labour law legislation misunderstands the modern world of work.
New website offers carbon footprint advice
14 March 2007
Businesses have been offered the chance to calculate and reduce their carbon footprint following the launch of a new website from BT.
The site offers a carbon calculator, which allows firms to work out their annual CO2 output based on factors such as energy consumption and staff travel patterns. Businesses can then see how each action they take to improve their energy efficiency reduces their carbon footprint.
Small businesses risk penalties on fire regulations
13 March 2007
Businesses have been warned to ensure that they are in compliance with new fire safety laws or face possible fines of up to £10,000.
Insurance firm More Th>n said that up to a million small firms are still not adhering to the Regulatory Reform (Fire Safety) Order (RRO) that was introduced in 2006.
The rules made employers responsible for protecting themselves and their employees, as well as taking preventative measures against the outbreak of fire.
Small firms could face incentive payment claw-back, accountants warn
2 February 2007
HM Revenue & Customs has come under fire following a statement that small companies that have filed their PAYE returns online may have their incentive payments stopped or withdrawn.
Accountants said the move was a "petty attack", and warned that it would present a further blow to small businesses that have struggled with the online systems, believing that the incentive payments would offset their administration costs.
Insurance liability warning for small businesses
29 January 2007
Employer’s liability insurance premiums may rise following the implementation of proposals by ministers to help the NHS recover some of its costs from patients, the Federation of Small Businesses (FSB) has warned.
SMEs 'not embracing' e-commerce
16 January 2007
Trading online has become more profitable and less costly for small companies to implement, though few firms are taking advantage of this, new research suggests.
Setting up alone 'worth the risk'
5 January 2007
Over half of small business owners feel that the risks involved in setting up a company were worth it, new research has revealed.
Online prospects good for small business
4 January 2007
Small businesses in the UK are finding it easier to grow their business on the internet rather than more traditional offline methods, new research has claimed.
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