The Smith & Williamson Enterprise Index reveals that optimism among small and medium-sized enterprises (SMEs) in regard to their own prospects over the next year fell by 27 per cent quarter on quarter, with one in two businesses pessimistic about their prospects in today’s economy. Guy Rigby, head of entrepreneurial services at Smith & Williamson says, ‘Confidence was badly
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UK job market defiant against Brexit
by Ben Lobel • • 0 Comments
When compared to the second quarter (Q2) of 2015, figures from last quarter from CV-Library show an 11.3 per cent increase in vacancies in the job market, while candidate applications increased by an even greater 13.2 per cent. Confirming the strength of the UK’s labour market, a number of key sectors and regions across the nation experienced healthy
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Brexit and the road ahead for small businesses and sterling
by Ben Lobel • • 0 Comments
Theresa May, new prime minister, has said ‘Brexit means Brexit’ and now it’s time for businesses to start planning for it. We have already seen some big movement on sterling exchange rates but what is next and just how can businesses plan for the future? Brexit has had instant drawbacks, notably the plummeting value of
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Unpredictability for SMEs as Britain votes out
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Rich Preece, Europe VP and managing director of Intuit QuickBooks says that, after today’s vote, there will be a transitional period while the UK negotiates an exit agreement.
‘It is possible that negotiations may continue for several years so it will be business as usual for now, but SMEs will have to monitor how the landscape is changing,’ he says.
‘One thing is for sure, throughout this period, managing finances is as important as ever. Whether this means a laser focus on forecasting, a revised approach on expenditure, exploring additional sources of funding or keeping overseas clients on side, putting the bottom line first remains key.’
Jason Kitcat, head of policy and public affairs at Crunch Accounting hopes that the government will move quickly following this result to set out its exit plans to minimise uncertainty for the business community.
‘At the heart of negotiations to leave the EU must be how the growth and productivity of freelancers, contractors, the self-employed and entrepreneurs will be supported in the new settlement,’ he adds.
Despite the panic in some quarters, it is important for businesses to avoid a knee-jerk reaction following the decision to leave the EU, says Julie Adams, senior partner at Menzies LLP, saying that,
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Eight small businesses talk about the likely impact of the Brexit result
by Ben Lobel • • 0 Comments
Andi Lonnen, founder of Finance Training Academy Ltd
‘I have concerns regarding the impact of Brexit on my financial training company – if we enter recession again, as predicted, one of the first costs to be cut is always training.
When my training benefits so many people around the UK and provides work for my associate trainers, this would be a bad result.
I also recently started to deliver training in Europe and I’m not sure if this will now continue.
On the positive, maybe good financial training will now be in demand as companies work to find yet more ways to cut costs!’
David Raymond, managing director, Embark Resourcing Ltd
‘As an owner of two small businesses I am concerned for the future, but so long as we have clear leadership and the process of our departure from the European Union is carried out in a careful and considerate way, then we can make this a positive outcome for the United Kingdom.
Our focus should be on our trade agreements with Europe, but more importantly our trade and immigration with the commonwealth and the rest of the world’
Shak Zaman, founder of investment and accountancy firm Brookman
‘Today’s result has made London an unattractive place for start-ups. Lots
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Brexit 2016: The positive view for small companies
by Ben Lobel • • 0 Comments
The recent historic European Union referendum result has huge implications for the UK’s 4.7 million self-employed workers and they’ll be wondering what it means for them.
The Association of Independent Professionals and the Self-Employed (IPSE) believes this new era can and must be taken as an opportunity for the UK.
CEO of the organisation Chris Bryce says that priorities should be new global trading arrangements, cutting burdensome regulation on small and micro-businesses and ensuring that Britain has the most flexible and attractive economy in the world.
‘With these priorities, the UK can be a place where freelancing and contracting can thrive,’ he adds.
‘New circumstances always bring new opportunities for freelancers. We should be optimistic about the future and IPSE will continue to push the importance and value freelancers bring to our economy.’
Katie Shapley, managing director of The Organisers, which provides corporates with personal assistants, says Brexit is ‘wonderful news for the country’.
‘So the pound goes down for a short period; our exports are cheaper, [meaning] more sales,’ she adds.
‘[There will be] less red tape and more power to entrepreneurialism. The future is very bright indeed and we should brace ourselves for the short-term pain and look forward to the long-term gain.’
Stuart Mackintosh, director of