Work From Home Jobs

27th January 2012

Latest figures indicate short term easing of cash flow problems

The latest figures from Experian®, the global information services company, today reveal that during the final quarter of 2011 the payment performance of UK firms saw a small but positive improvement from 26.17 days in Q3 2011 to 25.97 days, with the biggest improvements coming from the largest firms.

Firms with 101 to 500 employees paid their invoices three quarters of a day faster than in the previous quarter (from 25.84 days to 25.07 days), while firms with more than 501 employees improved by two thirds of a day (from 34.77 days to 34.12 days).

These businesses also led the way in improvements when compared to their payment performance in Q4 2010. Firms with more than 501 employees settled their invoices almost two days faster while firms with 101 to 500 employees improved by almost three quarters of a day - from 36.06 days and 25.79 days in Q4 2010, respectively.

Jason Mills, Head of Payment Performance at Experian UK & Ireland, said:

?Payment performance is the timeliest indicator of the current health of any business, so the overall improvement suggests that during the last three months of 2011, pressure on cash flow and finances was more manageable for most businesses.”

?Feedback from our larger customers demonstrates awareness and understanding of the struggles faced by some of their key SME suppliers so are prioritising payments to them, to better support them.”

?The only firms to see an increase in their payment performance from Q3 to Q4 were firms with three to five employees. The increase, however, was very small and is a timely reminder for smaller firms to credit check potential new and current business customers for signs of possible non-payment before it is too late.?

Employment

Days beyond terms

Q4 2011

Days beyond terms

Q3 2011

Days beyond terms

Q4 2010

1-2

20.64

20.65

20.76

3-5

23.20

23.05

22.56

6-10

22.30

22.43

22.04

11-25

21.74

22.07

21.47

26-50

22.11

22.47

21.75

51-100

23.28

23.86

23.42

101-500

25.07

25.84

25.79

501+

34.12

34.77

36.06

National Average

25.97

26.17

25.84

Source: Experian

Regional performance

Firms in the North West continued to pay their suppliers later than firms in any other region ? 35.54 days after agreed terms. However, the improvement from quarter-to-quarter and year-on-year was by far the biggest ? by 1.2 days from Q3 and almost six days from Q4 2010.

Government Region

Days beyond terms

Q4 2011

Days beyond terms

full year 2011

Days beyond terms

Full year 2010

Scotland

27.05

27.20

28.17

North East

24.27

24.48

26.82

North West

35.54

36.75

29.58

Yorkshire

27.13

26.68

27.55

Wales

24.27

24.35

25.40

West Mids

25.24

25.55

28.29

East Mids

25.85

25.76

25.81

Eastern

26.46

26.17

24.41

South West

18.01

18.22

18.94

London

28.80

28.77

29.50

South East

20.83

20.87

21.08

N Ireland

19.47

20.05

19.18

Source: Experian

Industry trends

Of the five biggest sectors in the UK - business services, building/construction, property, IT and leisure/hotels ? the building and construction sector saw the biggest improvements, both from Q3 2011 and also Q4 2010.

Industry Sector

Days beyond terms

Q4 2011

Days beyond terms

full year 2011

Days beyond terms

Full year 2010

Agriculture, Forestry and Fishing

23.52

23.40

25.91

Banking and Financial Services

18.43

15.65

14.53

Breweries

22.21

22.70

22.92

Building and Construction

22.05

22.17

23.21

Building Materials

21.00

23.29

22.25

Business Services

25.13

25.20

24.81

Chemicals Industry

19.93

21.01

20.90

Diversified Industrials

20.20

20.69

20.99

Electricals

20.92

22.30

22.17

Engineering

29.79

30.45

29.51

Extractive Industries

19.73

21.38

22.50

Food Manufacturing

17.42

17.30

23.63

Food Retailing

25.88

27.07

26.29

Health and Household

20.52

21.01

18.01

Hiring and Leasing

24.22

24.46

23.72

Insurance

35.72

35.75

34.20

IT

26.24

26.46

25.72

Leisure and Hotels

34.83

34.21

32.37

Media

27.52

27.23

25.96

Motor Traders

17.69

17.83

16.99

Non-Food Retailing

28.34

28.18

26.79

Oil

27.79

27.55

30.56

Other Services

45.22

46.82

47.81

Pharmaceuticals

11.98

12.27

12.01

Plastics & Rubber

26.93

26.73

28.73

Postal and Telecommunications

21.29

22.49

21.39

Printing, Paper and Packaging

23.34

23.51

23.08

Property

27.60

27.65

27.19

Servicing/Repair

34.01

34.16

37.58

Spirits, Wine and Tobacco

21.23

21.07

20.94

Textiles and Clothing

25.14

25.45

25.97

Transport

21.60

19.73

20.83

Utilities

22.50

22.73

22.35

Wholesaling

21.82

20.88

20.08

24th January 2012

In the current economic climate setting up a new business can be daunting. With the start of a new year, ICAEW is encouraging budding entrepreneurs to get their new ventures up and running. This comes as government currently conducts an enquiry into entrepreneurship, which ICAEW has responded to.

Clive Lewis, ICAEW’s Head of Enterprise, explains:

“SME growth is crucial to the UK’s economic success. If entrepreneurs believe they have a strong business plan, the necessary resources and the determination to succeed, then the start of a new year is a good time to encourage new influxes of enterprise to help boost the economy.”

“It can be hugely rewarding for start-ups to be their own boss and to build something from scratch in the community. A new business could well be the best way to earn an income, especially if they have saleable skills, an innovative idea or an interest that could be turned into a profitable business. It is also important to note that start-up businesses need to build a network of contacts for customer referrals, to help find potential suppliers and sub-contractors and to offer peer group advice.”

Clive’s top ten tips for budding entrepreneurs are:

Research the market. Find out whether customers will buy what you are offering, and use feedback to refine your product or service. (See Market Research: The Basics)

Write a business plan. Describe your business, how it will operate and its finances for the first two years. (See Writing a Business Plan)

Raise finance if needed. Being under-financed often leads to poor performance at the start. (Read: Raising Finance for your Business)

Build in contingencies. Setting up always takes longer than you think, especially if you need to comply with health & safety requirements, planning regulations etc.

Choose the right staff. Unless you are planning to be a one-man-band, pick the best people you can afford. They may work for less than the market rate initially if they are convinced of the potential for growth of the business. (See: Staff Planning)

Find a mentor. It is helpful to have someone to bounce ideas off. Learn from customers and suppliers and ask the views of your chartered accountant and other advisers. (Read: Personal Development Plans)

Make sure you have the right financial information. This is vital, not just for the taxman but for you to understand your trading performance. Set up records from the start, using software if you are comfortable with it. Employ a good book-keeper if you can afford to or talk to your chartered accountant.

Monitor key performance indicators. Ensure that you have right data, such as turnover, gross margins, overheads, finance costs, net profit, cashflow and working capital, on a daily, monthly and annual basis. (More about KPIs)

Be alive to possibilities and dangers. Don’t exclude taking the business in a different direction if you see potential elsewhere or there are problems ahead. Watch out for competitors in difficulty and listen to your customers, suppliers and staff.

Learn. Absorb all that you can from the experience of being an entrepreneur and from those around you, and also learn from your mistakes.

Reduce the chances of failure. Do something you already know, or employ people with experience in the sector. Manage your overheads and working capital. Appoint a chartered accountant with experience of start-ups before you launch your new enterprise.

In a response to a Parliamentary Group enquiry on entrepreneurship, ICAEW recognises that at a time of active deficit reduction programmes within the public sector there is a limited amount of support government can provide to start-ups. ICAEW’s Business Advice Service (BAS) helps small companies and start-ups with business and financial advice to aid economic growth and deliver expert guidance on how best to start, plan, manage and grow a business.

Clive Lewis adds:

“In tough economic conditions, small businesses need the right advice and support to succeed. As a profession that acts in the public interest, ICAEW Chartered Accountants recognise their responsibility to offer crucial guidance. BAS offers an initial free consultation with no obligation to continue with the service and will play a vital role in the business support landscape.”

Chartered accountants can save entrepreneurs time by helping with compliance issues such as notifying HM Revenue and Customs of commencement of a new business and registering for VAT as well as advising on issues such as which legal status a new business should have to minimise tax liabilities. They also have an established network of contacts. If they are unable to help they will know somebody who can.

23rd January 2012

Campaign launched today to promote entrepreneurialism in Britain

Intuit, the makers of QuickBooks accounting software, announces its support of a major new enterprise initiative launched today by the UK Government and StartUp Britain, called Business in You. 2012 has been hailed as the ‘year of enterprise’ for British small businesses, and Intuit is fully backing this campaign, as well as conducting its own Financial Fitness workshops nationwide.

The campaign will highlight the successes of nine British entrepreneurs and was launched today in Leeds by Prime Minister David Cameron. The launch was attended by many of the UK’s most exciting start-up owners, including some of the entrepreneurs highlighted in the campaign. Through billboard, digital and radio advertisements, the campaign seeks to drive awareness of the tools available to help start or grow a business via StartUp Britain and Business Link.

In addition to its work with StartUp Britain, Intuit supports entrepreneurialism and small business in the UK through a number of other initiatives. These include Financial Fitness workshops taking place at various locations across the UK in 2012 and its own Small Biz Matters blog, both of which have provided business advice for small businesses on organising their finances for long-term success.

Pernille Bruun-Jensen, UK managing director, Intuit UK, commented:

“Intuit has a long history of championing small businesses and drawing attention to the benefits of better financial management. In addition to accounting software, start-ups need advice, mentoring and support to bring their business ideas to life and ensure they don’t become casualties of the three year glitch; a staggering one in three start-ups fail before year three. We fully support initiatives that further develop the UK as a centre of entrepreneurial excellence and this year we’re hosting Financial Fitness workshops that will train more than 1,000 small businesses across the UK. We applaud the Prime Minister’s and the Department of Business, Innovation and Skills’ focus on and support for entrepreneurs, and we are giving our full support to StartUp Britain’s ‘Business in You’ campaign. We believe this latest initiative will help immensely in encouraging would-be entrepreneurs to take the next step towards making their business dreams a reality.”

Prime Minister, David Cameron, said:

“Small businesses and entrepreneurs are the lifeblood of the British economy and I am determined that we, working with the private sector, do everything we can to help them to start up and to grow in 2012. I want to encourage people to go for it and make this the year of enterprise – whether that is fulfilling their dream of starting a new business or taking the leap to grow their business, to employ more staff, or to start exporting.”

Michael Hayman, co-founder of StartUp Britain said:

“This is the year for the entrepreneur. This is the year to go for it. StartUp Britain wants to awaken all those who harbour a dream to own their own business and show that it really is possible. I believe that there is a business inside of everyone and that there has never been a better time to start your own business.”

For more information see the new Business In You website.

23rd January 2012

Small businesses which excel at corporate social responsibility (CSR) have been called on to enter the 2012 Business in the Community (BITC) Awards for Excellence and have their efforts recognised.

The awards are open to firms of any size and comprise ten main award categories, including work experience, climate change and rural communities. There is also a specific category for firms with fewer than 250 employees — the Small Company of the Year award.

Businesses that can prove their CSR programme has had a positive impact will receive a “Big Tick” — the nationally recognised logo which they can use on their websites, marketing materials and letterheads.

“BITC stands for responsible business,”

said a BITC spokesperson.

“Each year we award the coveted Big Tick to organisations of all sizes all over the country for the programmes they run to improve their impact on people and the planet.

BITC is also running a series of free workshops nationwide until the end of January to help businesses measure the positive impact of their CSR activities and prepare for the awards.

Last year’s Small Company of the Year awards was won by Maloney’s Retail Stores, a family-owned business whose shops are a vital part of their local community.

The deadline for entries is 5 March 2012.

22nd January 2012

Construction firms can quickly calculate their carbon emissions associated with materials, transport, site activities, waste management and travel, following the launch of an online tool by the Environment Agency (EA).

The EA said that the free tool would help businesses work out the sustainability of their activities and reduce their emissions. The tool helps users compare the sustainability of different designs, depending on their carbon footprint.

“Whether your development is large or small, you will need to consider the impact it will have on the environment, during construction and in the future,”

said an EA spokesperson.

“Rather than constraining your work, the environment can be a big opportunity. High environmental standards can bring value to your development and boost your green credentials.”

By law, any construction project in England costing more than £300,000 needs a Site Waste Management Plan. This sets out how building materials and waste are to be managed.

Access the free carbon calculator tool

21st January 2012

More small businesses are planning to lay off staff in the first quarter of 2012 than take on new employees, according to research by the Federation of Small Businesses (FSB).

As official figures released this week revealed that unemployment had reached 2.64 million — the highest level since 1994 — the FSB’s quarterly Voice of Small Business Index has found that a net balance of 6.5 per cent of small firms intend to shed staff in the first three months of this year.

The survey of 1,674 firms also highlighted that small business confidence has dropped to its lowest level since early 2010, with 75 per cent reporting rising costs and falling revenues since the second quarter of 2010.

The FSB said that the Government needed to do more to incentivise small firms to recruit and make it easier for them to hold on to staff. For example, by making firms with fewer than ten employees permanently exempt from the planned extension to the right to request flexible working.

 “Most of our members won’t have an HR function — it’s the owner-manager that has to keep up to date with changes in the law,” said an FSB spokesman. “To get an exemption from certain parts of employment law would mean they can actually get on with growing their business.”

Jessica McDonald, marketing director for Birmingham-based dental equipment manufacturer Dearson Equine, said she had been finding it difficult to find staff with the right skills and Government should be offering more support to businesses taking on apprentices and training staff.

“We have two apprentices and would love to take on more. Employers themselves need to take on responsibility for training. But the Government needs to play a part in that by supporting ongoing skills development, which is very expensive,” she said.

A spokesman for the Department for Business, Innovation and Skills (BIS) said:

“Whenever we implement policies, we look at them from a small business point of view.”

“We’re not looking to burden businesses with new regulations that prevent them from taking on more staff. Through both the employment law review and Red Tape Challenge we want to make it easier for business to take on staff and give them the confidence to do so, without compromising fairness for employees.”

20th January 2012

Serviced office group Regus has teamed up with oil giant Shell to launch a trial network of business lounges on petrol forecourts across Europe.

Aimed at the increasing number of mobile workers, the open plan lounges will offer drivers the use of fast internet facilities, video conferencing, printing, fax and scanning services, allowing them to catch up on work tasks at the same time as filling up with fuel.

Prices are expected to start at €5 (around £4) for a drop-in visit and customers will be able to buy passes at Shell checkouts. 

The first lounge has already opened at a Shell petrol station south west of Paris and more are expected to be rolled-out across Europe in the next 12 months. A Regus spokeswoman was unable to confirm a launch date for the UK but said the firm was “currently seeking opportunities” nationwide.

Forum of Private Business spokesman Robert Downes said that the lounges would appeal to small firms who couldn’t afford office space as well as workers on the go.

“With wi-fi allowing users to access their emails and use the internet, even video conferencing, this is going to make life easier for staff on the move,” he said.

“It certainly beats a motorway service station or a café for doing business with clients on a face-to-face basis and will look and feel more professional.”

Regus chief executive Mark Dixon called the new lounges “vibrant business hubs at the roadside” that would offer a quiet place to think and work.

“Research shows there are around 1 billion mobile workers globally,” said Dixon “Though they communicate and work using smartphones, tablets and laptops, they miss access to a professional place to work with state-of-the-art business facilities.”

20th January 2012

A TV production company is looking for an enterprising family willing to trade in their current life to run their own small business.

The show, being made by True North Productions for primetime broadcast on Channel 4, will see a family pursuing their aspirations to change their circumstances, with support from a team of business and financial experts.

The experts will evaluate their current life and come up with three different realistic business and life plans to get them started. Applicants must have the resources to finance their change of life, be willing to relocate and to start filming in spring 2012. The show will require a minimum commitment of two months.

“We wanted to make a programme that shows changing your life for the better doesn’t have to be as daunting as you might think,”

said Helen Soothill of True North Productions.

“Many people dream of change — especially in this financial climate — but when you’re working all the hours in the day, it can be very difficult to sit and plan how you can actually change your life.”

“The appeal of our programme is that if you have the ideas, the ambition and the capital to potentially make some big life changes, we have the time and the expert knowledge to help you,” she added.

Soothill said the experts would explore the family’s existing ideas for a business venture and the locations they would like to live, then produce three achievable plans for making the change. A team of researchers will help with the practical aspects of moving and setting up a business, such as house hunting and sourcing new schools for their children.

“We’d show the reality of these three different plans. For example, if they dream of running their own bakery near the coast, they would get to experience the realities of this, both good and bad. Our participants will then hopefully wish to choose one of the options that has been presented to them.”

19th January 2012

Small business confidence has slumped amid a warning that the UK may already have slipped back into recession, according to forecasts from the Ernst & Young Item Club.

The independent think tank said that gross domestic product (GDP) contracted in the final quarter of last year and will fall again in the first three months of 2012. The definition of recession is at least two consecutive quarters in which the economy shrinks.

In its report, the Item Club predicted GDP growth of just 0.2 per cent this year, 1.8 per cent in 2013 and 2.8 per cent in 2014.

Professor Peter Spencer, Item Club’s chief economic adviser, said that figures for the last quarter of 2011 and the first quarter of 2012 “were likely to show that we are back in recession”, and that signs of improvement would not appear until the summer.

“But it’s not going to be a repeat of 2009 — we are not going to see a serious double-dip,” he said.

However, the British Chambers of Commerce said a recession “was not a foregone conclusion” despite the gloomy outlook.

But the business lobby group warned that many small firms would struggle in the first half of the year, particularly exporters and those dependent upon consumer spending.

Meanwhile, the latest index of business confidence produced by the Federation of Small Businesses (FSB) fell by more than 15 points in December 2011 to minus 24.5, below the level seen in early 2010.

Indicating that many small firms already expect the worst, the FSB survey of more than 1,600 business owners found that 40 per cent believed the economy would deteriorate in the next three months, a rise from 34 per cent in the previous survey, while just 25 per cent expected the economy to improve.

“Things are going to get worse before they get better,”

said John Walker, national chairman of the FSB.

“But we are hopeful that as the inflationary pressures lessen in 2012, businesses will become more confident.”

He added that falling inflation should benefit small firms, with lower costs for raw material boosting margins and interest rates likely to stay low.

18th January 2012

A third of workers are more likely to go into work ill because of the economic downturn, a survey reveals.

The study of 1,600, found that 30% of workers are now more inclined to go to work sick as a result of the current economic climate.

Around half of those choosing to turn up for duty while sick said the most important factor in their decision was job security.

Overall, nearly three quarters (72%) of those surveyed went into work last year whilst sick.

And more than half (53%) of those questioned went into work with a contagious illness such as the flu or a cold in the past year.

Marcus Powell, Managing Director, Nuffield Health, Corporate Wellbeing, said:

“Employees going into work sick costs business dearly - up to £15billion a year. Our research shows the economic downturn has made people more likely to go into work sick often because they fear losing their job.”

“The corporate world knows that staff wellbeing directly affects their profits. That is why more and more businesses are providing good clinical and fitness experts for their workers.”

The age group most likely to go into work sick are those aged between 16 and 24 – 85% said they went into work sick last year and nearly half (48%) said they were more likely to go into work sick because of the economic downturn.

The income group most likely to go into work sick because of the recession is those earning below £20,000 followed by those earning between £21,000 and £30,000 and those earning between £31,000 and £50,000.

Dr Andy Jones, Medical Director at Nuffield Health, said:

“Effective health and wellbeing is about helping people to make the choices to stay physically and mentally fit.”

“Presenteeism means those who are ill go into work sick, possibly infecting others. Any doctor would advise workers to stay at home and rest if they are unwell.”

The survey asked 1,600 UK workers what the most important factors were in deciding to go into work sick. The most important factor overall among those surveyed was too much work, second job security and third workplace culture.

Women were slightly more likely than men to go into work because of the economic recession (33% compared to 27%).

Those sectors feeling the most pressure to go into work sick are the retail industry, followed by manufacturing then education.

21% said they were exercising less since the start of the economic downturn.

Research from Aston University (2010) revealed the cost of presenteeism to be £15billion annually. This is estimated at twice the cost of absenteeism, according to the Economic and Social Research Council.

In a report last year by the Chartered Institute of Personnel and Development (CIPD), presenteeism was shown to worsen stress levels, negatively effect productivity by transfer of illness and the sick being unable to work effectively.

For firther business advice see the Statutory Sick Pay Guide for Employers (2011-2012) or read the guide to Stress Management.