Tags: small business

Small business employment up by more than 1.6 million

There are over five million small businesses in the UK, generating £1.2 trillion for the economy. Since 2010, private sector employment has grown by nearly 2.5 million and small businesses accounted for 65 percent of this. These figures demonstrate the contribution small businesses have made to the nation’s record employment rate of 73.7 percent.

Flourishing small businesses helping to turn productivity tide

Two-thirds of UK small businesses have taken steps to improve productivity over the past year and exactly half now expect their output to grow over the next two years. The news follows years of falling British productivity in comparison to the United States and Europe. The new figures came to light in a new report launched by Albion Ventures, one of the largest independent venture capital investors in the UK.

Hiring your first employee costs £10,000 more than hiring subsequent ones

The FSB (Federation of Small Businesses) and the Centre for Economics and Business Research (Cebr) launched groundbreaking analysis yesterday (Thursday 30 October), which estimates the employment costs facing the typical small business. The UK labour market has made a lot of progress over the past year and FSB research found that a net balance of…

Bad hires hurting small businesses as a quarter of them admit to hiring after only one interview

The skills shortage is having a negative impact on small business recruitment, with over half of small businesses (51%) claiming that a lack of applications is resulting in bad hires. According to a survey of 1,000 small business owners, 40% have exited over three employees over the last five years, and 14% had exited over…

Staff at small businesses feeling more secure in their jobs

According to the latest release of the Owner Managed Business (OMB) Barometer Index from Bank of Cyprus UK, small businesses report that the improved economic outlook is having a positive impact on their employees’ job security. The research found that well over half (57%) of small businesses believe their staff feel secure in their employment,…

FSB says more small businesses looking to recruit in 2014

The UK’s small firms are showing increasing optimism for 2014 as businesses remain positive about the economic outlook. Latest research suggests small firms want to grow their business and find access to finance a little easier, according to the Federation of Small Businesses’ (FSB) Small Business Index. For the fourth consecutive quarter, the Small Business…

Small firms facing big pay-outs due to severe flooding

The Federation of Small Businesses (FSB) has raised concerns regarding the costs that small firms may suffer in wake of the heavy flooding in the UK. The FSB has stated that small firms need insurance protection against flooding, and it is worried that many businesses in high-risk flood areas cannot get adequate insurance cover and…

Business bank will give small firms vital cash injection

Business Secretary, Vince Cable, will today announce Government plans to provide £1bn of taxpayers’ money to try to help small firms who are struggling to borrow from traditional high street banks. There have been constant complaints from small and medium-sized businesses in recent months that banks are blocking access to finance and thwarting their ability…

Pension delay a mixed blessing for small businesses

The Government’s decision to delay introducing auto-enrolment for small and medium sized businesses is likely to be a mixed blessing for the sector, according to a leading law firm. Pensions experts at Ward Hadaway say that while delaying the introduction of auto-enrolment for SMEs with fewer than 50 employees means these employers will avoid compulsory…