Posted by John Alves on September 28, 2010 under Business Planning, HR, Legal, Operations, SME News, Strategic Planning | 
The future of many small businesses is in jeopardy because their managers are failing to adopt basic business practices, according to recent research.
The survey, which was conducted by Simply Business, found widespread evidence of inadequate financial management, an absence of basic business planning coupled with uninformed decision-making and totally inadequate employment policies.
29% of SME bosses admit to keeping inadequate checks on their company finances due to competing pressures on their time but the picture is likely to be worse than this, with detailed balance sheets and profit and loss forecasts only being reviewed every 18 weeks, on average. In addition, managers are failing to perform basic due diligence on customers and suppliers; 65% don’t credit check new customers, whilst 76% don’t check existing customers requesting to extend their credit terms. 30% have no formal contract at all with their business customers.
The research shows that business planning is also lacking; 54% of the businesses surveyed have no written business plan, and 68% have no detailed plans for coping with unforseen changes in the operating environment. When it comes to decision-making, 68% of those questioned say they rely primarily on gut instinct; only 56% perform any first hand market research, whilst a mere 54% consult the company accounts to inform their decision.
Finally, the survey shows that inadequate employment practises are leaving millions of SMEs exposed to the risk of costly legal action. 21% have no formal contracts for their permanent employees and 79% have no dedicated person to handle HR operations. This is reflected in the fact that 40% of firms have no formal, written HR policy while 46% have no formal health and safety policy.
Jason Stockwood, CEO of SimplyBusiness.co.uk, commented:
“Limited time and resources are characteristic of growing businesses, and the recession will have stretched UK entrepreneurs further than ever before – understandably, Location Cass Commercial Bank many have become so focused on working in the business, that their time working on the business may have suffered as a result.
“Those entrepreneurs left standing have successfully managed their firms through the credit crisis, but can not now afford to expose their companies to easily avoidable risk.”
Source: Mike Symes
www.smebusinessnews.co.uk
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Posted by stephencowburn on September 27, 2010 under SME News, Training |
The Sunday Times (26th Sept. 2010 Bottler David knows his final chance for the crown has gone) asked whether David Miliband had the killer instinct and courage a leader needs, suggesting that there were three occasions when he might have gone for the leadership [of the Labour Party] but didn’t. In his memoirs, Blair said of Miliband that “he seemed hesitant, and uncertain whether he wanted it” [the leadership].
MD’s might reflect on whether they wanted something enough in the past and let an opportunity (or three) go by. Or took an opportunity and it was at best a powerful piece of learning.
What sort of support might an MD find to assess an opportunity and not let it go by?
Mentors are one such source of support. A mentor has been through similar situations and can bring his/her experience to bear. How does this fit with the business plan? What are the opportunities? What are the risks? What would be the impact on cash flow? Sales? Suppliers? These are all essentially rational questions. The mentor can be the sounding board as the MD examines the logic, weighing in as devil’s advocate if the thinking becomes flawed.
Coaching is a different source of support, which through different questions, taps into motivations to enable the MD to seek clarity on what the opportunity means to them as a person. What will this opportunity mean for you? How does it fit into your personal plan? What if you don’t do it? What is stopping you? The emphasis is on learning and understanding to face cialis onlineopportunities in the future more “instinctively and courageously.”
It’s not a question of either/or, but a very high profile example of the need for objective support, without an axe to grind, to assess whether the opportunity is right for both the business and the MD.
Stephen Cowburn
stephen.cowburn@ukba.co.uk
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Posted by martinparry on June 23, 2010 under Business Planning, HR, SME News |
The coming months are set to be a crucial time for the education and training landscape. As the new government finds its feet, the initial signs are very encouraging and indicate a continuing commitment to the value of apprenticeships in the workplace.
In May the CBI/EDI Education and Skills Survey was published which asked over 600 UK employers to give their priorities for the new government. Ensuring young people are equipped with the employability skills they need to succeed in the workplace was top of the wish list for 70% of those polled. The survey also showed continuing enthusiasm among employers for providing apprenticeships, with 54% currently offering them and another 14% hoping to get involved in the coming months. Despite all the upheaval of the past 18 months, employers still know a good thing when they see it.
Under current economic conditions, employers need to ensure they have a steady stream of skilled employees to help them meet the demands of their customers; apprenticeships can play a vital role in sustaining this flow. Investment in apprenticeships not only increases the skills base of a company, it has a direct impact on the bottom line. According to statistics published by the National Apprenticeship Service (NAS), 80% of apprentice employers said they noticed a significant increase in productivity when employing apprentices.
EDI works in partnership with employers, further education colleges and private training providers to award a wide range of vocational qualifications, including apprenticeships. We’re committed to maintaining the highest standards for these vocational qualifications to ensure they offer a robust alternative to more traditional academic routes.
This year we’re once again sponsoring the Apprentice of the Year category at the National Apprenticeship Awards, our way of celebrating the valuable contribution of apprentices from across the country and the commitment of the organisations that employ them.
With over 190 different apprenticeship programmes now available, there is scope for employers of all types and size to get involved. As well as programmes in the traditional trades of carpentry and plumbing, apprenticeships are now offered in new areas such as creative and cultural, information technology and retail.
In terms of the training apprentices receive, I would argue that the mixture of practical experience and theoretical knowledge required by all apprentices to complete their qualification is exactly what modern businesses need in order to meet the challenges of tomorrow. While it is important to learn the theory of something it is also essential that this learning can be applied practically. We are in danger of restricting the potential of those who learn better in a more practical setting. Apprenticeships are not the easy way out for people with poor academic records. They are challenging programmes that present a different route to success for individuals looking to reach their potential in the world of work.
I would challenge the 32% of employers we surveyed who don’t yet have an apprentice on board, or aren’t yet contemplating hiring one, to find out what they’re missing. And I can vouch for the benefits; EDI has three apprentices and is currently recruiting more.
If you want to learn more about hiring an apprentice for your business go to www.apprenticeships.org.uk.
Sc: Chris Bolton, Director of External Relations, EDI
Sc: www.ediplc.com/news www.ukba.co.uk
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Posted by martinparry on June 3, 2010 under Finance, HR |
HMRC has published advisory fuel rates for company cars to apply from 1 June 2010. For one month from the date of the change, employers are permitted to use either the previous or new rates.
To read more on this story go to:
http://www.hmrc.gov.uk/cars/advisory_fuel_current.htm
Compiled by: www.ukba.co.uk
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Posted by martinparry on June 2, 2010 under HR |
Companies must be forced by the Government to include employee information on their annual reports, HR industry representatives have urged. The measure should be included as part of the Operating and Financial Review (OFR), which is a written account of how a company is being run. The OFR should include details covering directors’ social and environmental duties in annual reports. However, the requirement for employee information has not been confirmed. The requirement was first proposed by the Labour Government, and the new Government has announced its commitment to implementing the mandatory OFR.
For more on this story go to:
http://www.personneltoday.com/articles/2010/05/27/
55741/ofrs-must-include-people-information-says-hr.html
Compiled by www.ukba.co.uk
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Posted by martinparry on May 26, 2010 under Business Planning, Finance, Grants, Loans, Resources, SME News, Start Ups, Strategic Planning |
According to an article in Regen.net The Treasury has announced that England’s regional development agencies will have to save £270 million in the current financial year through “ending lower value spending”.
Setting out how the coalition government intends to save £6.2 billion in 2010/11, chief secretary to the Treasury David Laws said that RDAs will “have to cut back on spending which has the lowest economic impact”.
A document published by the Treasury following the announcement said that the budget for the RDAs would have to provide £270 million of savings in 2010/11 “from ending lower value spending”.
Laws said: “Tough decisions are being made … Quangos across government will have to make major savings in their budgets.”
A spokeswoman for the Department for Business, Innovation and Skills said that no decisions had been made yet on how the cuts would be spread across England’s nine RDAs.
But speaking in Warrington last week, new business secretary Vince Cable picked out the South-East England Development Agency (Seeda) and the East of England Development Agency (Eeda) as examples of RDAs whose existence is hard to justify.
Cable was quoted by the Financial Times as saying: “It is very difficult to see the justification for RDAs in the South-East and East, prosperous regions with a large private sector.
“There are areas like the North-West, Yorkshire and the West Midlands, where there are really serious structural problems and there seems to be a broad agreement with local businesses that the RDAs are doing a good job.”
Sc: www.regen.net Sc: www.ukba.co.uk
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Posted by martinparry on March 1, 2010 under Finance, Grants, SME News, Training |
The Welsh Assembly Government (WAG) has announced a £15 million business support package to help businesses prepare for the economic upturn. The funding will primarily be used for training and will go toward extending the ProAct programme, which helps employers who are facing difficulties during the downturn. The ProAct programme was due to close at the end of March, but applications are now welcome until the end of June. The skills growth initiative will be in operation from 1 April 2010.
For more on this story go to:
http://wales.gov.uk/news/latest/100211twintrack/?lang=en
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Posted by martinparry on February 25, 2010 under Finance, HR, SME News, Tax |
According to Rachel Burgess of Business Car Magazine plans for workplace parking taxes are emerging across the UK, with York and Exeter city councils first to follow Nottingham’s confirmed scheme by revealing proposals for charging businesses that providing parking for employees.
However, states Rachel, the Forum of Private Business has branded the additional tax burden, intended to cut congestion and reduce carbon emissions, as “unfair, unsustainable and unacceptable”.
“It is an attempt to tax struggling businesses for employing people at a time when we should be facilitating them to take on staff. Instead we are penalising them,” a spokesman told BusinessCar. “It is very much a case of looking for short-term gain at the expense of longer term economic stability.”
Sc: http://businesscar.co.uk
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Posted by admin on February 24, 2010 under HR |
1. Put 400 bricks in a closed room.
2. Put your new employees in the room and close the door.
3. Leave them alone and come back after 6 hours.
4. Then analyze the situation:
a. If they are counting the bricks, put them in the Accounting Department.
b. If they are recounting them, put them in Auditing.
c. If they have messed up the whole place with the bricks, put them in Engineering .
d. If they are arranging the bricks in some strange order, put them in Planning.
e. If they are throwing the bricks at each other, put them in Operations.
f. If they are sleeping , put them in Security.
g. If they have broken the bricks into pieces, put them in Information Technology.
h. If they are sitting idle , put them in Human Resources .
i. If they say they have tried different combinations , they are looking for more, yet not a brick has been moved , put them in Administration.
j. If they have already left for the day, put them in Marketing.
k. If they are staring out of the window, put them in Strategic Planning.
l. If they are talking to each other, and not a single brick has been moved, congratulate them and put them in Top Management .
m. Finally , if they have surrounded themselves with bricks in such a way that they can neither be seen nor heard from, then put them in Government
HOW TO PROPERLY PLACE NEW EMPLOYEES
1. Put 400 bricks in a closed room. 2. Put your new employees in the room and close the door. 3. Leave them alone and come back after 6 hours. 4. Then analyze the situation: a. If they are counting the bricks, put them in the Accounting Department. b. If they are recounting them, put them in Auditing. c. If they have messed up the whole place with the bricks, put Location Central Valley Bank them in Engineering . d. If they are arranging the bricks in some strange order, put them in Planning. e. If they are throwing the bricks at each other, put them in Operations. f. If they are sleeping , put them in Security. g. If they have broken the bricks into pieces, put them in Information Technology. h. If they are sitting idle , put them in Human Resources . i. If they say they have tried different combinations , they are looking for more, yet not a brick has been moved , put them in Administration. j. If they have already left for the day, put them in Marketing. k. If they are staring out of the window, put them in Strategic Planning. l. If they are talking to each other, and not a single brick has been moved, congratulate them and put them in Top Management . Finally , if they have surrounded themselves with bricks in such a way that they can neither be seen nor heard from, then put them in Government
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Posted by admin on February 23, 2010 under IT |
Rumour has it that small and mid-sized companies don’t care about energy or the environment – that your sole focus is on profits. Oh please, say it isn’t so.
It’s kinda like saying “I’m too busy and too small to put my money in the bank – I’ll just stick it here in my pocket and take it out when I need it.”
Aligning with Green
Green and sustainable business isn’t an enterprise initiative. If you have brand that matters to you, if you want to stay relevant in today’s markets, if you actually care about efficiencies in your business, you’re paying attention to green and figuring out how you can align your organization.
More at Stake
For most organizations, going green means identifying improvements that likely better your processes and save you money, but there’s much more at stake than that:
- Have you asked your stakeholders how they feel? With new procurement policies calling for green vendors, products and services, your customers may have an opinion on your responsible behavior (or lack there of).
- Have you asked your kids? I know this isn’t a typical business metric, but if you have anyone you care about who you want to see live their lives without worrying about having enough water to drink in another 20 years, it’s time you start your environmental education.
No Place to Hide
The challenges this earth is facing are here now. Al Gore put it so aptly so many years ago: Environmental reality is not convenient. And sticking your head in the sand and saying it doesn’t apply to you doesn’t cut it. You are responsible. The good news is that once you start acting that way, both you and your business will do better.
Source: http://www.theinfoboom.com/pov/expert/too-busy-too-small-care-about-green-it-green-it
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Posted by admin on February 20, 2010 under IT |
Small and medium-sized businesses (SMEs) have reason to feel optimistic. A forthcoming report from Microsoft (the Microsoft SMB Hosted IT Index 2010) states that 86% of SMBs worldwide see IT as ‘very important’ or ‘critical’, recognising the impact IT has on business productivity by way of customer and supplier contact, marketing facilities and accountancy for example. The report also identified what it calls SMB ‘IT envy’ – the belief that the more IT you have the more effectively you can compete with bigger businesses. Regardless of cost, 4 in 5 businesses think they would be better off having more IT tools although the economic downturn has severely impacted IT spend.
So, understanding that IT solutions can help small businesses, but without the funds to invest, where does that leave SMBs?
Subscribing to hosted services <http://co1piltwb.partners.extranet.microsoft.com/mcoeredir/mcoeredirect.aspx?linkId=13157941&s1=87f0afaa-993e-cd03-6e64-722429291a16> is emerging as a clear winner here. Subscription models mean you can buy the services you need as and when you need them so that you might only rent a service for a month to support a particular sales campaign or at certain times of year.
Source: Microsoft
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Posted by admin on February 19, 2010 under HR |
Last year, despite tough labour market conditions, over 70,000 16 and 17 year olds started an Apprenticeship. Despite this there are still many more young people who want to learn whilst they are in work and we are determined to make sure that the opportunities are there for them to do so.
The new Apprenticeship Grant: AGE 16 and 17, of £2,500 is to enable employers to offer 5,000 new Apprenticeship places and take on an unemployed 16 or 17 year old apprentice immediately. The £2,500 grant is in addition to the costs of training which is met by the National Apprenticeship Service.
Read more: http://www.apprenticeships.org.uk/Employers/AGE16and17.aspx
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