The claims management market is exceedingly busy at the moment. The announcement of the PPI deadline for 29th August 2019 means businesses are working harder than ever to encourage as many customers as possible to make a claim. With over £30 billion already paid to consumers, the industry is receiving a good sum of money by working on behalf of consumers — an amount which is likely to increase as the deadline nears.
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Small Business News
In the latest research conducted by the Federation of Small Businesses (FSB), it was found that the self-employed are not very optimistic about the future. The self-employed in the UK are the largest business group, with there being an estimated of 4.8 million sole traders. The FSB are launching a ‘Think Self-Employed’ scheme to rescue the collapsing confidence of the self-employed in the UK.
In the latest Small Business Index (SBI) carried out by the Federation of Small Businesses, it was found that small business confidence has risen again. The confidence of small businesses has hit a one year high, which is great news for the sector across the UK. The steady rise in the confidence portrays a bright future for small firms that remain strong and positive despite adversities.
According to the latest research from the Federation of Small Businesses (FSB), it was found that small businesses are unprepared for some of the biggest disruptions a business could face. The issues that could arise from cyber crime to staff losses or severe weather, can have a huge impact on small businesses. Therefore, small businesses need to get prepared and have a contingency plan in place.
The investment in the small business sector has fallen, according to the latest Federation of Small Business (FSB) research. The number of small businesses that are planning to invest in the future of their business in the upcoming months, has decreased. This decrease hitting an 18-month high.
A major initiative has been launched by TransferWise, a financial technology company to encourage UK’s youngest and brightest entrepreneurs to grow their business internationally. The scheme duped ’20 under 20′ could be life-changing for twenty young entrepreneurs in the UK, helping them take their business to new heights.
In the most recent study carried out by the Federation of Small Business (FSB), it was found that constantly rising operating costs are stalling business growth. The survey, which has over a thousand recipients, highlights the struggles of small businesses, as the number of small businesses reporting a rise in operating costs is nearly at a record high.
In the latest study conducted by the Federation of Small Businesses (FSB), it was found that if small businesses were supported by bigger businesses then they could grow their business through innovative techniques. Innovation is the key to the success and the growth of the business. If innovation is fed through the supply chain, this could significantly help small businesses succeed.
In a recent study conducted by the Federation of Small Businesses (FSB), it was found that the percentage of small businesses that have increased the wage for their employees is the highest it’s been in three and a half years.
The positive effect of having an online presence and being on multiple different social media platforms cannot be denied. Yet, a majority of SME’s are not taking the advantage of using social media to drive sales for their small businesses. Social media is a cost-effective way of effectively marketing your business, and the presence online is an absolute must in the present day.
Small businesses still have a lot of catching up do with regards to the General Data Protection Regulation (GDPR). With just under a month left until the new legislation goes into effect, the small business community is hoping that the Information Commissioners Office (ICO) will be lenient. Small businesses have struggled with GDPR from the beginning because of the lack of resources that are easily attainable for bigger businesses.
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The gender pay gap has been in the spotlight recently, with the government actually taking action to start tackling the issue. Companies with the more than 250 employees have to report on how much they are paying their staff. Although this only focused on bigger businesses, small business should also start looking at the gender pay gap at their firm. A positive finding was that UK Fast, a hosting firm, had the mean gender pay gap which was just 0.9%.
According to the latest report by the FSB (Federation of Small Business), confidence among small businesses is bouncing back after the dismal results of the last quarter. These positive results from the quarterly index could be due to the progress in Brexit talks, lower inflation and the positive spring statement.
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It’s no secret that half of the start-ups started in the UK fail within the first five years of operating. Small businesses should consider surpassing the five year mark as a real accomplishment, as that is the point they are out of the danger zone. So, what are the reasons behind the failure of these start-ups?
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Paper is costing businesses thousands per employee from its day-to-day use in the workplace. From a study conducted by WorkMobile of 1,000 workers, it was found that 67% of UK businesses are spending over £2,000 on paper annually per employee. This just goes to show the significant role that paper still plays in the daily activities of more than half of the businesses that took part in the study.
Small business owners struggle with insurance policies that are in place, claiming that they use too much jargon and can be difficult to understand. With the rising threats of cyber-attacks, terrorism and severe weather conditions, small businesses need to have a good insurance policy in place more than ever.
The late payment culture in the UK has been plaguing the livelihood of small businesses and causing severe financial strains. The federation of small business (FSB) is urging for more effective policies from the Prompt Payment Code (PPC) which has failed small businesses in the past. The demise of Carillion has effected thousands of people and many businesses that it owed money to.
Since the referendum, Brexit has impacted small businesses in more negative ways than positive, it has left millions of small businesses with lack of confidence and uncertainty about the future. In a survey conducted by Insolvency Practitioners MGJL to check up on the health of businesses, the results were far from positive, especially regarding the Tech industry.
Employees don’t leave the company they leave their horrible bosses. A great number of employees like their job but their relationship with their boss makes it difficult for them to enjoy their job. A lot of employees start the year by looking for new jobs and this is because they want to leave their ‘horrible boss’ behind.
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A new FinTech platform has been launched by the Federation of Small Business (FSB), which aims to help small businesses deal with the struggle of funding. Small businesses struggling to secure funding from traditional institutions, like banks is a common issue. Therefore, this new platform is a great new addition to the alternative funding methods available to small businesses.
