Category: Advice

SMEs urged to find their ‘hidden accountant’

Advice

A study by the Association of Accounting Technicians (AAT) has found that four out of five small businesses have unqualified staff managing their finances. SMEs are losing around £15,000 a year on average because of poor financial management, the ATT said, and were only seeking professional support two years...

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Confusing tax policy holds back business

Advice, Tax

A report by the Office of Tax Simplification (OTS) calls for tax policy for small business owners to be overhauled to tackle widespread confusion among entrepreneurs. The OTS is critical of the “complex patchwork” that owners of private companies face, and said that the system needed to be simplified...

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RBS invites small firms to leave

Finance, Advice

Royal Bank of Scotland has begun writing to its small business customers, inviting them to switch to another bank. As part of RBS’s £45bn taxpayer-funded bailout, it is being forced to provide £350m for rivals to offer incentives to customers to switch (the subject of the letters), as well...

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Redrow boss: I couldn’t start a firm now

Advice

Redrow chairman Steve Morgan says that he would be unable to create the firm today due to planning laws. Speaking at the Home Builders Federation conference in London, he asked why he or Berkeley boss Tony Pidgley would “find it almost impossible to build a major homebuilding company today.”...

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Publish or be damned, FCA told

Advice

Financial Conduct Authority CEO Andrew Bailey was warned yesterday that he faced damaging the regulator’s reputation if there were further delays in publishing the report into RBS’s mistreatment of small businesses. MPs said there was no time for the FCA to conduct legal checks before publishing – an unredacted...

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Focus on staff happiness to boost productivity

Advice

Former Waitrose MD Mark Price writes in the Telegraph that employers can boost productivity by focusing on staff happiness. He says academic research shows a link between happy, engaged employees and long-term improved organisational performance. A survey by Mr Price’s engaging.works website found better work-life balance would most improve staff happiness...

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