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08 September 2017

Weekly Brief 37 – Friday 8 September 2017

A wrap of the week’s small business news from FSB’s Westminster Press, Policy and Public Affairs Office. To sign-up for Weekly Brief emails, please use this link
FCA urged to publish RBS report 
Treasury Select Committee Chair Nicky Morgan this week called on the Financial Conduct Authority to publish its report on the Royal Bank of Scotland's Global Restructuring Group (GRG). National Chairman of the Federation of Small Businesses Mike Cherry described the intervention as "encouraging", adding that 12,000 small businesses referred to the group have been waiting four years for it to publish its findings. "It's hard to put a price on the damage that GRG has done to the wellbeing of our small business community," he added. 

Parliamentary update 
On Wednesday, during the Ways and Means motion, Luke Graham (Cons, Ochil and South Perthshire) raised the issue of additional costs placed on small businesses due to additional reporting requirements that will come as part of the move toward digital record keeping (Making Tax Digital). He said "the Federation of Small Businesses estimates that they amount to about £2,770".  

Do you sell ivory antiques? 
The EU is considering whether to tighten already strict rules on the sale of ivory, up to and including a total ban on sale and re-sale of all ivory products. FSB is interested in hearing from members active in the antiques trade or musical instrument production to fully understand how this might impact their business. Does this apply to you? Share your thoughts with James Sibley

Export Action Plan competition 
Businesses have until the end of this month to enter the Export Action Plan competition, which gives firms the chance to win £3,000 towards their post-Brexit growth strategy. The competition is being run by Open to Export, a free online information service by The Institute of Export & International Trade that helps small UK firms get ready to export and expand internationally. Businesses will be asked to pitch to a panel of experts at an event in November. Entries close on Friday 29 September. Click here for more details. 

Are you a business angel?
The British Business Bank (BBB) is conducting research on the nature and impact of business angels on the UK economy. Alongside the UK Business Angels Association (UKBAA), the BBB is looking for active angel investors to take part in a brief survey, expanding on previous research and informing what can be done at a policy and practical level to support them. The survey can be found here. For further information contact Jenny Redman from UKBAA or Bronwyn McDonald at BBB. 

Impact of package travel regulations 
The Tourism Alliance is running a survey about the impact package travel regulations are having on the domestic tourism industry. The five-minute Package Travel Directive Survey is aimed at those running businesses in the tourism sector and can be accessed here

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