FSB Buoyant on Business Rates

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Thursday 26.01.12

The internet is making it easier for small companies to compete with their larger rivals, according to new research conducted by Yell and the University of Southampton. Consumers were [..]

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Tuesday 10.01.12

10 Tips to Keep Your Cash Flowing in 2012

1. Make sure your Terms and Conditions are clearly stated and send them out with all confirmations and invoices. Don’t be afraid to send a reminder as the payment date draws near and [..]

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Saturday 10.12.11

The Growth of the Enterprise Culture

2011 has seen a growing number of people starting new businesses, according to research by Creditsafe. Their figures suggest that 470,000 new companies will have been registered by the end [..]

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Monday 07.11.11

Better, Not Simpler, Reporting Needed for Micro Businesses

The UK Government should abandon proposals to simplify statutory reporting for the smallest businesses and instead encourage accountancy bodies, banks and software companies to collaborate [..]

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Monday 24.10.11

New Businesses Reminded Not to Miss Out on NIC Holiday

HMRC have issued a reminder that start-ups outside London, the south east and the east of England are exempt from paying employers’ National Insurance Contributions (NICs) for the first [..]

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Friday 07.10.11

Government Proposes Reduced Financial Reporting Requirements for SMEs

More than 100,000 UK businesses could save a total of over £600 million in accountancy and administration costs every year, under proposals to reduce financial reporting requirements, [..]

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Mike Symes - Tuesday 30.03.10, 08:03am

The Federation of Small Businesses was pleased with the announcement to take 345,000 small businesses in England out of the business rates system, is looking forward to the introduction of the new credit adjudicator giving small businesses the opportunity to appeal against a decision by the bank to reject a loan application, welcomed the Chancellor’s announcement to direct more public sector contracts towards SMEs, and believes that proposals to increase the threshold for entrepreneurs’ relief to £2 million should see serial entrepreneurship rise.

But it was disappointed by the decision to proceed with the planned increase in NICs.

John Walker, the FSB’s national chairman, said: “This Budget has provided welcome news on helping to improve small businesses cash-flow, but the increase in the NICs will be bad for job creation.

“Small firms are key to furthering economic recovery, and we are concerned that through continuing plans to increase employer NICs and not introducing a NICs holiday to firms employing less than 50 staff who take on more employees, it will increase pressure on struggling firms meaning they will not be able to take on additional staff.

“Proposals to increase the Small Business Rate Relief threshold will be welcome news for those small firms in England whose cash-flow in hindered by big tax bills.”