Emergency budget - good news for small businesses

There are some very solid small businesses in Peterborough, sitting alongside sizeable employers like Tesco, BGL and British Sugar.

But, however long they’ve been established or loyal their customer base, many have struggled through the recession. The pre-election uncertainty at the beginning of the year – despite the glimmer of better times to come - forced many businesses to simply baton down the hatches and hope to keep the cash flowing long enough for the market to experience a definite upturn.

We have a number of clients who have held off recruiting or investing in new equipment for instance, waiting for more stability in the market.

So we were relieved and delighted on their behalf to see a tax break thrown out in the emergency budget.

Chancellor George Osborne announced an increase in small business rate relief from October. This will help 500,000 small firms nationally – and a significant number regionally and locally - enjoy a tax reduction.

Of course, lower taxes frees up more money. For some firms that will mean the opportunity to start implementing the kind of medium term recruitment strategies that have been sitting on the shelf for months.

And that’s good news.

Agency Workers Regulations

The Agency Workers Regulations have been on our radar for well over 18 months.

We’ve been working closely with our industry regulator the Recruitment and Employment Confederation to ensure we are fully versed with the regulations, what it’s going to mean for us and our clients and how we can remain compliant and help clients to be as well.

As a result of the relationship we have built up, the REC’s director of external relations Tom Hadley has agreed to come and speak at a special employment law briefing we’ve arranged with Hegarty LLP Solicitors.

This is a fantastic opportunity for HR professionals from Greater Peterborough to engage with a heavy weight industry expert – Tom is well known and respected across the country.

He’s going to discuss the practical and legal implications of the introduction of the regulations on employers and, hopefully, will have time to take some questions too.

Hegarty’s employment expert Martin Bloom will also be presenting at the event later this month, offering a legal spin on the introduction of the regulations.

We’ve always taken the REC stand – that these regulations, which will be enforced from October 2011, are likely to have far reaching implications on the demand for temporary workers. Our objective now is to help make their introduction as smooth as possible for clients.

Outplacement

Sitting in a room with a professional who’s just discovered their job – and therefore they – are redundant is not at the top of my list of enjoyable work moments.

But it is right up there on the job satisfaction scale.

Let me explain: being made redundant is on a level with a house move or relationship break up when it comes to stress-inducing life events. It may have come out of the blue. Financial concerns are often paramount. Self esteem takes a dive as does self confidence. All of a certain the future looks very uncertain.

But all of that can be turned around by arming the person with knowledge and advice – outplacement as it’s known.

We were called in by a company which was laying off 25 professionals.

Members of our team met all 25 on a one to one basis. We were able to discuss their individual needs, examine their skill sets, talk through options, give them advice about the local job market, help bring their CVs up to date and offer job search tips.

The feedback we received suggested every single one found the interview valuable and felt much more positive about the future than they had before the process started.
We couldn’t place them all in jobs immediately but we could ‘empower’ them to coin a 1990s phrase – and that’s a good feeling – for them and for us.

Post election moves

The advent of this new era in politics courtesy of the coalition government means interesting – if not uncertain - times for the country and for businesses. The Queen’s Speech has given us some clarification and there will be more over the coming months.

We already have the Agency Workers Regulations and the changes to pension regulations planned for 2012 firmly on our radar.

The deadline for the introduction of the AWR is just 18 months away now. A number of our clients are taking their lead from us on introducing processes to ensure compliance. We have been heavily involved with industry body the REC from the first discussions of those particular regulations so we’re well placed to take on a valuable HR role on behalf of our clients and to advise them appropriately. Our latest initiative is our breakfast law briefing at the end of June.

The director of external relations for the REC Tom Hadley will be speaking as will local employment expert Martin Bloom from Hegarty LLP Solicitors. The seminar will provide the perfect opportunity for businesses to find out exactly what they need to do – and obviously how we can help.

Our bi monthly e-newsletter has more information about compliance and legislative changes that affect businesses. Email info@annecorder.co.uk to request your copy.

Stamford Mercury Business Awards

Businesses have had to work extra hard over the last year so those which have headed onwards and upwards as others have stumbled deserve recognition.

That’s what the Stamford Mercury Business Awards ceremony last night was all about – shouting about those people, companies and teams which have put their heads down, got on with it and carved out success despite the market conditions.

I was proud to be at last night’s ceremony at Greetham Valley Hotel, Golf and Conference Centre as a co-sponsor of the Business of the Year category.

We’ve been involved with the awards for three years now and it certainly feels like they are gathering pace in Stamford and the surrounding areas.

There was obvious delight from many winners – and why not, surviving a recession is worthy of mention, coming out the other side as an award winner is a fantastic achievement.

My co-judge Robert Hinch from Greetham Valley and I struggled to whittle the entrants in the Business of the Year category down to a short list and choosing a winner was even harder.

We finally settled on Precision Sports and Leisure Ltd in Stamford.

They demonstrated both a high level of professionalism and real passion for their business – a vitally important ingredient. The shop’s success over the last 12 months has been impressive and the team has some really exciting plans for the future. I actually visited the shop as a customer and was very impressed with the service I received. They’re not short of creativity either and have channelled that into identifying new markets.

So a big well done to Precision Sports and Leisure Ltd, thank you to Greetham Valley Hotel, Golf and Conference Centre for providing a beautiful setting and fantastic meal and congratulations to the Stamford Mercury for another successful awards.

Salary Survey launched

The Peterborough Local Market Salary Survey has been providing businesses in the Greater Peterborough area with vital information about pay and benefits packages since we launched it 12 years ago.

Last year’s survey included information gathered from some of the city’s highest profile companies and provided a snapshot of the renumeration packages of 4,800 employees – an excellent sample size representing many different sectors.

The results are, obviously, invaluable to all companies wanting to remain competitive when attracting the very best employees.

And so, we’re now launching the 2010 Salary Survey which will, once again, be produced by PAYdata, in conjunction with us at ACR.

The survey results provide a perfect benchmark for companies as they review employees salaries. And with the economy now appearing to be more stable than it has for some time, they will also provide a good indication of how city businesses have fared and, indeed, how they see themselves moving through 2010.

All companies who take part in the survey – which is, naturally, entirely confidential – receive a free detailed report of the results.

Businesses wishing to register their interest in taking part in the survey can contact us at info@annecorder.co.uk.

ACR supports attempts to limit NICs rise

The economic recovery remains intact, if tentative. Anything that threatens that delicate balance needs avoiding. And we agree with our industry body, the REC, that the proposed one per cent rise in National Insurance Contributions constitutes a threat.

The rise is set to be introduced next April. All the signs are that this is going to be a long slow recovery so any changes in National Insurance that soon could have a dramatic knock on effect.

More outgoings for employers will mean less staff are hired – indeed, some jobs may be lost.

I’m not suggesting for one minute there is an easy answer. The Government has a tough job to do repairing the public finances.

But the rise in NIC is, in effect, a tax on jobs and, I believe, should be seen as a last resort not an easy fix.

The figures are stark. Someone who’s better than me with the calculator has worked out that a 1p increase in Contributions could result in the loss of 57,000 small business jobs; the retail sector would be stung to the equivalent of 31,000 part time jobs and, according to one survey, while 12 per cent of employers would recruit fewer staff because of the planned rise, eight per cent would actually cut jobs.

The Government – whichever party is in power by then – has 12 months to backtrack. That’s plenty of time to do the maths.

We’ve added our name to this petition http://www.no-nics-rise.co.uk/ You might like to.