HMRC backs down on tax helpline closure following pressure from FSB
Small businesses were dismayed when HMRC announced plans to cut its helpline hours for tax queries on Tuesday afternoon – but relieved when that decision was reversed the following morning, following pressure from FSB and others. FSB’s initial reaction to the planned cuts was featured in the Daily Mail and was followed by relief about the turn-about on the “ridiculous” plans, with FSB Policy Chair Tina McKenzie telling the media, including The Guardian, Evening Standard and Daily Express: “We’re very glad HMRC has listened to the chorus of dismay which greeted its initial announcement.”
FSB campaigning sees apprenticeship funding changes announced for small firms
Changes to the support received by small firms using the apprenticeship system were announced this week, following campaigning from FSB. From 1 April, the Government will pay for 100 per cent of training costs for apprentices up to the age of 21 working at a small firm in England. There will also be an increase in the amount of funding that employers who are paying the apprenticeship levy can pass onto other businesses, including small firms, from 25 per cent to 50 per cent. FSB welcomed the move, with comments featured in The Times, City AM and FE Week.
Latest SBI published: Late payments and access to finance stall small business growth
FSB’s Small Business Index (SBI) for Q4 2023, published this week, finds that late payments and difficulties accessing finance are denting small business confidence and hampering growth, prompting discussion by Mike Amesbury MP and Exchequer Secretary Gareth Davies MP during Treasury questions in the House of Commons. Two-thirds of small firms reported that they had experienced late payments in the final quarter of 2023, up from three in five in Q3, while growth aspirations also deteriorated between Q3 and Q4. FSB National Chair Martin McTague told POLITICO Europe, the Daily Express, the i, The Independent and SME Web: “When we look at how small businesses fared towards the end of 2023, it’s hardly surprising that the overall economy also stuttered. Unless matters change, the holding pattern seen in the SBI results looks set to carry on, with the impact felt more keenly in some sectors than others.”
Bank of England holds interest rates, as inflation dips
Inflation fell to 3.4 per cent in the year to February 2024, down from 4 per cent in the previous month. The Bank of England’s decision to hold the base rate at 5.25 per cent, also announced this week, had been widely predicted but is still painfully high, maintaining pressure on small businesses. FSB said that it would like a rate cut by the summer to give small firms some much-needed relief. FSB National Chair Martin McTague said: “Policymakers should remember that small firms have been the driving force behind our recovery from past recessions, and this time it’ll be no different.”
“Small firms can excel at hiring young disabled people”: FSB gives evidence to the Lords Public Services Committee
FSB’s head of public affairs, David Hale, gave evidence to the House of Lords Public Services Committee on the transition of young disabled people from education to employment. He told the Committee that small firms could excel at hiring young disabled people because they can offer flexibility and adaptability to the needs of differently-abled workers, adding that the Government can improve the employment rate of young disabled people by focusing on making the initial transition from education to the workplace more successful. Watch the full session on Parliament TV.
Data protection fines and penalties: New guidelines from the ICO
The Information Commissioner’s Office (ICO) has set out new guidelines for how fines are issued relating to data protection breaches, giving greater transparency on how penalties and fines are calculated and the criteria and methodology used to assess breaches.
Net zero: Reducing small businesses’ waste emissions in Scotland
FSB responded to the Scottish Government’s consultation on its Circular Economy and Waste Route Map, which set out to gather views on their proposed priorities to accelerate more sustainable use of resources; support the delivery of a circular economy to 2030, and reduce emissions associated with resources and waste. A key element of the consultation for small businesses is the proposal to create new duties around how they reduce and report on the waste in their business. FSB said that any regulation introduced must be proportionate, and designed to meet the requirements of the small businesses it will affect. It also said more detail was needed about how proposals would work and called for a pilot scheme to help assess the cost implications of implementation for Scottish small businesses.
Vaughan Gething appointed First Minister of Wales and urged to put small firms first
FSB welcomed the appointment of Vaughan Gething MS as the new First Minister of Wales, this week. FSB Policy Chair for Wales Ben Francis said he was happy that the new First Minister had previously worked closely with FSB, while serving as Minister for Economy for Wales and urged him to address short-term challenges such as supporting the struggling hospitality industry, alongside creating a long-term economic vision with small firms at its heart. FSB will be meeting with the new First Minister and the new Economy Minister, once appointed, in the coming weeks, to discuss crucial small business issues in Wales.
Small businesses: Join a briefing to take part in this summer’s The Big Help Out
The Big Help Out is inviting small businesses to attend a briefing to discover how they can take part in this year’s big community event. The event organisers say that businesses large and small have a crucial part to play in making The Big Help Out a success. From the thousands of local shops and services which form the backbone of our communities, to the biggest brands, everyone can make a difference. Speakers at the business briefing will include HM The King’s Director of Communications Tobyn Andrews. It takes place on 27 March between 7.45am and 9.30am for in-person attendees, and 8am and 9am for online attendees. Invites will be allocated on a first come first served basis. Email: [email protected] to reserve a place.
Survey: Improving diversity and inclusivity in supply chains
Business in the Community (BITC) and YouGov are inviting small business owners to take part in their new survey on supply chains. The survey looks at both the opportunities and barriers that occur in supply chains, and the blockers small business owners have encountered in scaling up their businesses. The survey also examines how more diverse and inclusive supply chains can be developed. The survey closes on 7 June.
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