FSB receives Silver Award from the Defence Employer Recognition Scheme
The Federation of Small Businesses (FSB), this week, received a Silver Award from the Defence Employer Recognition Scheme (ERS). The award is in recognition of its work as an employer of people from the Armed Forces communities, as well as using its platform to encourage other SMEs to do the same, and for successfully influencing government policy to enable more SMEs to employ veterans. Assistant Chief of Defence Staff, Major General Marc Overton, said: “I’d like to thank and congratulate FSB as a recipient of this year’s ERS Silver Award which recognises the fantastic efforts of FSB as an employer which has elevated its commitments under the Armed Forces Covenant and provided actual benefit to the Armed Forces Community.”
Tina McKenzie named in POLITICO’s inaugural Power 40 list of political influencers
FSB’s Policy and Advocacy Chair Tina McKenzie was named in POLITICO Europe’s inaugural Power 40 list, as one of the 40 most influential figures in UK politics, public policy, and advocacy. Tina McKenzie was ranked number 20 on the list.
Treasury Committee launches inquiry into SME finance
In response to sustained efforts from FSB to raise awareness of the importance of accessible finance for small businesses and start-ups, and following the 13th consecutive rise in the base rate, the Treasury Committee has announced an inquiry into SME finance this week. Meanwhile, FSB has been highlighting the issue of Covid-era debts which are causing headaches for many small firms, and calling for borrowers to be treated fairly. FSB’s National Chair Martin McTague told the Independent: “With interest rates for debt climbing for all small firms, any move to empower regulators should take small firms’ needs and vulnerabilities into consideration as well.”
New Fuel Finder scheme welcomed by small firms
FSB welcomed the proposal of a new fuel finder scheme to improve access to competitive fuel prices by the Competition and Markets Authority (CMA), which works to promote competition for the benefit of consumers, businesses, and the UK economy. The proposal comes off the back of a recent investigation by the CMA into supermarket fuel prices which found that consumers paid 6p per litre more from 2019 to 2022, on average. According to FSB’s most recent Small Business Index report, 37 per cent of SMEs said fuel prices were the main driver of their rising costs.
Could you reclaim duty on goods sent to Northern Ireland?
Under a new HMRC Duty Reimbursement Scheme, small traders can reclaim duty on goods moving into Northern Ireland that are not subsequently moved into the EU. The scheme allows traders to reclaim the costs of EU duty payments if they can prove that the goods were sold or used in Northern Ireland or in a location outside the EU.
Apply for duty suspensions for 2023 before the deadline
The application deadline for small businesses to apply for duty suspensions on imported goods for 2023 is midnight on 6 August. Duty suspensions allow businesses exemptions from paying duty on certain imported goods - normally those that are used in domestic production. Other duties such as VAT are not included in the suspension.
Take part in a workshop to explore how managers can better support staff members
As part of a project funded by the Chartered Management Institute (CMI), the Work Foundation, an independent think tank, is seeking 20 managers to participate in two online workshops during the summer. The project is looking to understand how managers can effectively support their staff in the workplace. You can apply by completing a survey, and all successful applicants will receive a £30 voucher for participation.