Business Insights

National Living Wage could put extra strain on small businesses

The new National Living Wage (NLW) will come into effect starting on April 1 2016. With just four months left before the changes, the Government is warning businesses to prepare for the introduction. Tasks to take care of include ascertaining which staff, if any, will be affected by the changes, communicating the changes to staff and updating the payroll.

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Leeds MP tables motion for review of insolvency litigation plans

Greg Mulholland, Liberal Democrat MP for Leeds North West, has tabled an early day motion calling for a review of changes that would make it more difficult for insolvency practitioners to secure returns for creditors from fraudulent directors.

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Out of date financial information stops small firms from investing

A lack of access to up to date information could be preventing SMEs in the UK from investing properly in their businesses, new research has found.

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Government winds down the Business Growth Service

The Government’s Business Growth Service (BGS) is to close by April 2016. The popular service, which includes the Manufacturing Advisory Service (MAS) and the Growth Accelerator programme has already closed its doors to new applicants. Businesses with existing contracts will, however, continue to receive support until the end of March next year.

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Nearly two thirds of small business owners make difficult decisions alone

A new survey has found that almost two thirds of small business owners make difficult decisions alone. This could lead to stress-related illnesses, among other issues, which could in turn have a negative impact on the business.

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