NEWS AND OPPORTUNITIES
Confidence gulf between sectors, new SBI finds
FSB’s Small Business Index research for Q1 2022 paints a mixed picture across industries, with the overall SBI confidence reading at +15.3, lower than in Q1 2021 but higher than Q4 2021 (-8.5). However, the headline rate is not evenly distributed between sectors, with confidence among accommodation and food sector (+16.5) and information and communication (+32.1) businesses contrasting sharply with findings among manufacturing (-9.1) and wholesale and retail (-8.2) businesses. FSB National Chair Martin McTague said: “It’s encouraging to see small business confidence back in positive territory, though the picture across sectors is distinctly mixed.”
Last chance to #ProtectCash
FSB has called for access to cash to be protected in the forthcoming Queen’s Speech, following research from Which? on falling bank branch numbers. Martin McTague said: “With our bank branch infrastructure further decimated over the pandemic, this Queen’s Speech is the last chance saloon where protecting access to cash is concerned. Since the Access to Cash Review was published, we haven’t seen meaningful movement in the numbers of customers and small firms that rely on cash day to day. But we have seen further closures of bank branches, and new limits on opening hours – choking off supply while demand remains.” Small businesses can sign up to FSB and Which?’s Cash Friendly Pledge.
EU import checks delayed
The introduction of full import checks on EU goods – planned for the summer – has been delayed until the end of 2023, the Government has said. FSB welcomed the news, and Martin McTague commented: “Imposition of full import controls this summer would have meant yet another burden for small firms which are already wrestling with new trade rules and spiralling operating costs. This move will give them more time to prepare for future changes and reassess supply chains.”
Absence figures for 2021 prompt call for sick pay rebate
Responding to new Office for National Statistics figures showing that 149.3 million working days were lost because of sickness or injury in the UK last year, FSB’s Policy and Advocacy Chair Tina McKenzie said: “The average cost of sickness absence, including finding cover, stands at more than £3,000 a year for small employers, equating to £5 billion across the small business community as a whole. On the day that the Government has announced yet more help for big energy-intensive companies, we’re asking policymakers to take forward our joint proposal with the TUC for a small business sick pay rebate which will support those who have received no assistance whatsoever with utility bills.”
HRT action needed
FSB’s Tina McKenzie has welcomed the news that the Government has appointed a HRT tsar to address supply issues. She said: “There is a lack of awareness across society about the menopause. Especially given that women over 50 are the fastest growing section of the workforce, it is really important that individuals get the support they need. We recommended in our recent Business Without Barriers report that the Government should review NICE Guidelines, including on the menopause and other conditions that impact participation in work, such as anxiety, to ensure they include appropriate advice about work and employment.”
Rural businesses need a boost, report says
The All Party Parliamentary Group on The Rural Powerhouse has published a report on rural businesses which has found that eliminating the productivity gap between rural and urban businesses could add £43 billion to the UK economy. FSB’s Tina McKenzie commented: “This report represents a much-needed blueprint for how rural businesses can prosper if the right policies are put in place. Improving broadband connectivity in hard-to-reach areas, prioritising smaller scale housing development, with small house builders at the forefront, and identifying and closing skills gaps, are particularly crucial for small businesses based in the countryside.”
Subsidy control system modified
A new system to regulate subsidies to business has received Royal Assent. The new rules will allow devolved administrations and local authorities to “deliver subsidies where they are needed without facing excessive red tape, creating a level playing field for subsidies across the entire country”, the Government said, and are expected to come into effect in the autumn.
Ukraine trade tariffs cut
The Government has said that all goods from Ukraine will have a zero-rated tariff as part of a package of measures to help Ukraine’s economy.
Switzerland trade talks
The Government has opened talks with Switzerland which it hopes will lead to an “enhanced trade deal”. The Department for International Trade is seeking views on the aspects of the UK’s current trading arrangements with Switzerland which could be improved or amended via a consultation.
Professional qualifications recognised
A new law which allows UK regulators to decide whether or not to allow people with overseas qualifications to practise in regulated professions has been passed. The Professional Qualifications Act will also allow UK professionals to have their qualifications recognised in other countries, the Government said.
Minimum wage webinar for employers
Acas is holding a webinar with HMRC – Helping employers get the National Minimum Wage right – on 4 May. Book here.
Anti-harassment action plan
The Equality and Human Rights Commission (EHRC) and UK Hospitality have published a checklist and action plan for employers to help them prevent sexual harassment at work. It is designed for the hospitality sector, where the problem is especially acute, but can be adapted for all workplaces, the EHRC said.
Call for small business heroes to help refugees
FSB is encouraging its members to support an initiative to help refugees and the homeless community in the UK by donating old, usable tech. Community interest company, SocialBox.Biz, to which FSB donates its own old usable tech, has partnered with charities Migrant Help and the British Red Cross and is stepping up its collection programme because of the recent increase in refugees coming to the UK. By donating old, usable technology on an ongoing basis, businesses and organisations can help supply these less fortunate communities with laptops to help them reintegrate into society, get in touch with loved ones, and perform essential activities.
Funding opportunities
Innovate UK is offering UK SMEs a share of a £25 million fund aimed at “projects with strong commercial potential to significantly improve the UK economy” as part of the second round of the Innovation Loans Future Economy Competition. Meanwhile, small businesses working to “deliver innovations to address railway priorities” can apply for grants of up to £250,000.
LGBT networking
Next Friday (6 May), FSB is holding a “Let’s Grow Business Together” networking session for business owners and self-employed people from the LGBTQ+ community. This month’s topic is “Positioning your business as an LGBTQ+ friendly business” – sign up here.
FSB SUPPORT AND INFORMATION
- Our Sustainability Hub has everything you need to help you on your journey to net zero.
- If you are a UK business which trades with Europe, keep track of the latest changes and developments via FSB's Transition Hub.
- Our #BusinessWithoutBarriers hub on disability and health conditions has free guidance and resources to help small businesses make their workplaces more inclusive, and to help disabled entrepreneurs identify opportunities and support.
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