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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Small companies back new prime minister Theresa May
by Ben Lobel • • 0 Comments
Such action from the prime minister will place a greater onus on employers to create more inclusive workplaces, tackle stubborn problems like the gender pay gap and confront excessive executive high pay, says the organisation’s chief executive Ann Francke. ‘We’ll work with government, leaders and managers to make social purpose in business a priority that delivers
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Small businesses ill-prepared for new TTIP trade agreement
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The TTIP is a new trade agreement between the US and the European Union due to be finalised by the end of the year. The timing means the new rules are likely to come into effect well before the UK is able to conclude negotiations on how it will withdraw from the EU. Despite this,
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Consumers feel misunderstood by brands
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A study led by Attest reveals that perfume brands, female clothing and gaming top the list of the biggest offending sectors to wrongly estimate their consumers’ spending habits and desires.
The 2,000-strong survey of UK-based adults aged 18-75 aimed to discover more about consumer attitudes and how Britons feel they are represented by corporate brands.
Respondents were initially asked if they felt they were misunderstood by brands in general, with 35 per cent stating they feel this way. Within this group of misunderstood respondents, the majority at 82 per cent feel as if they are not well represented and are often ignored by big labels.
Following on from this, to find out more about which sectors were seen as the biggest offenders, respondents were provided with a list and were asked to actively rank where and how they feel the most misunderstood as consumers.
The sectors that get it wrong
Perfume companies are ranked by 26 per cent of respondents as the sector most likely to misjudge its customer base, followed by women’s clothing brands (23 per cent), game companies (19 per cent), insurance companies (17 per cent) and make-up brands (10 per cent).
All respondents were then asked by researchers if they had ever previously engaged with brands to give feedback, with only 41 per
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EU referendum: The self-employed plan to vote on a personal level
by Ben Lobel • • 0 Comments
According to a study by Intuit QuickBooks of 1,000 self-employed workers across the UK, 72 per cent of self-employed workers will cast their EU referendum vote according to personal or political preference, with just one in five (20 per cent) entering the ballot box with their business or career in mind.
Despite placing a personal choice before their business, the referendum remains high on the self-employed agenda and a huge majority (95 per cent) will make sure their voice is heard.
Their vote is currently evenly split with 41.9 per cent set to vote ‘remain’, 41.3 per cent voting ‘leave’ and 11.4 per cent still undecided.
Implications of the EU Referendum
Regardless of this even split, the clear majority (62 per cent) of self-employed workers admit to being concerned about the implications of the EU Referendum result on their future self-employed prospects, but most (57 per cent) believe that in times of economic uncertainty it is still more reliable to be self-employed, rather than working for a full-time employer.
In the event of a Brexit vote, 82 per cent would choose to remain self-employed, rather than trying to find work with an employer (18 per cent).
Just 14 per cent of self-employed workers have fully prepared their business
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Unpredictability for SMEs as Britain votes out
by Ben Lobel • • 0 Comments
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