British Gas adopts FSB energy recommendation
British Gas has adopted FSB’s call to allow small firms trapped in sky-high energy contracts to renegotiate their fixed-term energy tariffs. The scheme will allow small businesses to take advantage of lower wholesale energy prices, in exchange for extending the length of their contract. FSB’s Policy and Advocacy Chair Tina McKenzie said: “We hope ‘blend and extend’ is made available to all small business customers who are trapped in fixed tariffs from last year’s peak period. Now is the time for other energy suppliers to follow suit.”
Inflation falls but still threatens small businesses
Figures from the Office for National Statistics this week show that consumer price inflation was running at 8.7 per cent in the 12 months to April 2023, down from 10.1 per cent in March, but FSB has warned that despite this drop, inflation still poses a serious threat to businesses, especially those in the retail and hospitality sectors. FSB’s Tina McKenzie said: “The fall in inflation is helpful, but now small firms will be hoping for further steep drops in coming months.” FSB spoke to BBC Breakfast about inflation’s impact on small firms.
Employers to grant employees unpaid carer’s leave
All employers in England, Scotland, and Wales will soon have to offer unpaid carer's leave as a day-one employment right, following the enactment of the Carer's Leave Act this week. More information will be provided by the Government.
FSB’s Emelia Quist named 'trailblazing executive' for her diversity work
FSB's Head of Policy Research, Emelia Quist, was named as a trailblazing executive for people of colour in business in the 2023 Empower 100 Executive Role Models list, announced this week. Emelia was recognised for the work she has done at FSB on ethnic minority entrepreneurship, workplace diversity and local community cohesion.
FSB attends future skills roundtable with Shadow Minister
FSB called for future skills policies to prioritise the needs of small employers and close the skills gap during a roundtable discussion with Bill Esterson, Shadow Minister for Business and Industry, at Kingston University this week. FSB is calling for businesses, universities, and policymakers to work together to future-proof skills and meet the needs of both employers and employees, as set out in FSB’s recent report, Scaling Up Skills.
Supporting Hong Kong entrepreneurs in the UK
The Welcoming Committee for Hong Kongers hosted an online forum on setting up a small business in the UK. During the session, FSB shared valuable guidance for this specific community.
Reminder to employees to check tax refund eligibility
HMRC is encouraging business owners to remind their employees to check if they are eligible for tax refunds for work -related expenses. Employees can check the criteria for tax refunds via HMRC’s online portal.
Data protection: Check you are compliant
The Information Commissioner’s Office (ICO) has launched a series of short, digestible videos to help small business owners better understand data protection laws. The videos are available via the ICO’s SME Hub and cover a range of topics from data protection to direct and email marketing.
Survey: share your views on non-financial reporting requirements
The Department for Business and Trade and the Financial Reporting Council, the UK regulator for corporate reporting, are asking UK businesses to complete a survey as part of their review into the non-financial reporting requirements for UK companies. The survey closes on 16 August.