You are currently browsing the Blog - EMS - Business Consultants weblog archives for January, 2011.
25/01/2011 by Geoff.
Many small businesses see exporting as an attractive way of increasing order books and profits.Along with other pitfalls of this strategy currency fluctuations can easily damage performance. The answer is not that the business needs to become a currency expert but to be aware of the advantage of hedging currency. There are organisations out there that will help you with exporting and who will advise on the impact of currency fluctuations (UKTI).The main lesson to learn is to protect the rate you costed your product at, then if you can get some upside, great!
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25/01/2011 by Geoff.
Sometime ago, following a trip to New Zealand, I reported seeing the wool shop who had sheep dyed pink in the field in front of their farm (shop). More recently the colour (pink) seems to have helped the sale of grab adhesive!
However colour isn’t everything – the grab adhesive company advises success is born of knowing what your customers customer wants!
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18/01/2011 by Geoff.
Starting up a business on the back of your idea can be a slow process with limited rewards for a few years.An alternative is to buy an existing business – the big advantage here is that you know there’s a market for the product because it’s already selling. If you choose to take this route you’re likely to need a lot of money but with customers, suppliers and staff in place and an established presence in the market, you’ll leapfrog the first 5 to 10 years of grind.Tips when taking this option are:
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11/01/2011 by Geoff.
In April 2011 the Act will introduce new criminal offences. Most important for employers is the offence of “failing to prevent bribery”. If there is a breach, there is the risk of imprisonment and fines.
Written by Simone Greasley - HR and Recruitment Specialist
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10/01/2011 by Geoff.
Small businesses might think they have little to offer long serving Execs from larger companies but they might just have. This resource may have been with a company a long time and their role will probably have changed from what they used to enjoy. The small business might just enable them to get back to enjoying their working life again and brings with them vast amounts of experience.The following helps make it work:
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10/01/2011 by Geoff.
As you will be aware the VAT rate increased from the rate of 17.5% to 20% on 4 January 2011. Retailers have already implemented this as you’ve seen from the news and probably experienced. However most small businesses invoice monthly so don’t forget to implement this on or before 31st January 2011
In addition the rates applicable to the Flat Rate Scheme will also increase. See below for more details.
For any sales of standard-rated goods or services that you make on or after 4 January 2011 you must charge VAT at the 20% rate.
If you have a cash business and calculate your VAT using the VAT fraction you must use the VAT fraction of 1/6 on your standard-rated VAT inclusive sales from 4 January 2011.
The change only applies to the standard VAT rate. There are no changes to sales that are zero-rated or reduced-rated for VAT. Similarly, there are no changes to the VAT exemptions. Any sales you make at these rates are unaffected by this change
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02/01/2011 by Geoff.
Looking ahead in 2011, the weekly rate for statutory maternity, paternity and adoption leave pay will increase in April 2011. It will rise from £124.88 to £128.73.
Statutory sick pay will increase from £79.15 to £81.60.
Written by Simone Greasley - HR and Recruitment Specialist
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02/01/2011 by Geoff.
As we enter the New Year, Employers should be reminded that as of 1st February 2011 there will be an increase to the limits which will apply to Tribunal Awards and other amounts payable (under employment legislation).The maximum amount of a ‘week’s pay’ will increase from £380 to £400 and the maximum compensatory award for unfair dismissal from £65,300 to £68,400.It therefore pays to get your HR practices right in 2011. For guidance, call Simone Greasley at EMS.
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