Auto-enrolment rules need simplifying, MPs told
Business leaders have told the most recent Work and Pensions Select Committee meeting that auto-enrolment is going well, but it has been hindered by too much paperwork.
Business leaders have told the most recent Work and Pensions Select Committee meeting that auto-enrolment is going well, but it has been hindered by too much paperwork.
The number of new businesses being launched in the UK’s poorest areas has surpassed the national average, according to new research.
Estimates by the Office of Budget Responsibility (OBR) have shown that the amount generated through business rates will surpass tax and fuel duty in the 2015/2016 year.
The government currently spends around £187 million on goods and services from SMEs each year, but this figure could be set to rise as Whitehall has set a new 25 per cent target for public sector spending on SMEs next year.
New research conducted by the ICAEW Business Advice Service has revealed the average turnover for a British business as £505,644.33. The findings are based on analyses from the BAS Business Heat Map, which monitors annual turnover of businesses according to the constituency in which they are placed.
As many as one in five small to medium enterprises (SMEs) in the UK have shrunk over the last three months, according to Zurich’s latest quarterly SME Risk Index.
New lenders flooding the market have led to a surge in the amount of money lent to SMEs, according to the National Association of Commercial Finance Brokers (NACFB), the trade body for finance brokers.
Concerns for a shortage of funding for SMEs amidst a stagnated lending market are growing, despite European syndicated loan volumes running at their highest level since 2007.
New research conducted by an independent commercial finance broker, Hilton-Baird Financial Solution, has revealed that exactly half of the UK’s businesses believe that the level of funding available is inadequate, with only 27% saying that the backing from lenders and the government is sufficient.
Businesses in the electronic services, broadcasting and telecoms sectors are being told to prepare for changes to EU VAT rules, which come into effect at the start of next year.
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