LSBF Blog - Global Matters

Working for free is necessary for small businesses, survey shows

Over 25 per cent of small business owners believe that working for free is a necessary step when starting up a business, according to research from micro-business company Chorus.

The research showed that over 60 per cent of micro-business owners have worked for free in order to get their business started up. 

 

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Office atmosphere can affect employee health

June 22 ,2016 | by Helen Gould

In addition to obvious culprits such as eating habits, smoking, and exercise, studies are increasingly showing that work environment can affect the health of staff members.

Factors such as employers’ attitudes to sick leave, stress, and “presenteeism” (staff being at their desks more than necessary) may all contribute to the overall health of workers.

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Entrepreneurs most likely to underestimate accountancy fees, survey shows

June 22 ,2016 | by Hari Sri

Entrepreneurs are most likely to underestimate accountancy fees when it comes to costs, according to a study from business services company Geniac.

The study looked at the costs involved with running a business and identified the most expensive areas for starting up a business. 

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More Brits turning to online learning sites, figures show

More Brits are turning to online learning sites to develop new skills, according to research from Hitwise.

Figures released by the company showed that over 4 million people in Britain searched “how to” queries in the first quarter of 2016, whilst 1.3 million Brits visited a learning site over the same period. 

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Funding Circle teams up with EIB to help small businesses

Peer-to-peer lending company Funding Circle has partnered with the European Investment Bank (EIB) to support small businesses by increasing loans.

The partnership, which comes just a few days before the EU referendum, is expected to provide £100 million worth of loans for small businesses. This will be the first time that the EIB has provided lending through a peer-to-peer company.

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UK employers working together to provide digital apprenticeships

June 21 ,2016 | by Hari Sri

Employers in the UK are working together to provide apprenticeships for young people under a new initiative called the Digital Apprenticeship Standards Steering Group.

The group has already collaborated over the past few years to develop digital and tech apprenticeships for areas such as digital marketing, data analytics, and software development as part of the Government’s Trailblazer scheme.

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Cybercrime costing UK economy £5.26 billion, according to FSB

Smaller businesses are collectively attacked 7 million times per year by cyber criminals, which is costing the UK economy £5.26 billion, according to a report from the Federation of Small Businesses (FSB).

The report, Cyber Resilience: How to protect small firms in the digital economy, showed that despite over 90 per cent of smaller businesses taking action to prevent digital threats, over 60 per cent have fallen victim to cybercrime over the past two years. 

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Fifth of UK tech companies run by women, study shows

Technology companies are ahead of FTSE companies when it comes to female leaders, according to research from Tech London Advocates.

The Women in Tech Leadership Index showed that a fifth of UK tech companies are run by women, compared to 5 per cent of FTSE 100 companies and 4 per cent of FTSE 250 companies.  

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Virgin Trains launches new service for SMEs

Over the weekend, Virgin Trains launched a new booking tool for small and medium-sized businesses named Railblazers.

The service will support SMEs by enabling them to easily travel across the Virgin Trains Network to attend business meetings.

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Companies should rethink how they use digital learning, says CMI

Companies need to rethink how they go about helping managers and leaders develop professional skills, according to a survey from the Chartered Management Institute (CMI).

The CMI’s report, “Learning to lead: the digital potential”, looked at how digital learning is used in companies and what methods of learning managers prefer. 

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Campaign calls for more support for female entrepreneurs

June 18 ,2016 | by Claire Payne

A campaign has been launched to help provide more support for female entrepreneurs. The Federation of Small Businesses (FSB) is aiming to increase the number of women in business and has called for the UK and Welsh Government to provide more support and better access to finance.

According to the UK Government, providing more support for female entrepreneurs could help to boost the economy by £600 billion. 

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Uni-hood to launch business club for young people

Uni-hood is to launch a business club for young people. The company will be launching The Entrepreneurs Club to help young people develop the skills they need in order to set up their own business.

The project will provide young people with the opportunity to receive mentoring from a group of successful businessmen and businesswomen. 

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StartUp Britain bus tour to inspire thousands of entrepreneurs

The 2016 StartUp Britain bus tour has now been launched. 

The tour is part of a partnership between NatWest and StartUp Britain, and aims to inspire thousands of entrepreneurs across Britain.

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Increasing employment rate could add £105 billion to economy

June 16 ,2016 | by Thiago Kiwi

Increasing the employment rate of workers over 55 could add £105 billion to the economy, according to Big Four company PwC.

The study compared employment rates of workers across 34 OECD countries and found that whilst the UK performs well in terms of employment rates for older workers when compared to other EU countries, it does less well when compared to countries outside the EU, such as the US and Japan. 

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Entrepreneurial Spark named world’s most active accelerator

June 16 ,2016 | by Hari Sri

Entrepreneurial Spark has been identified as the “world’s most active accelerator” in The Global Accelerator Report 2015 from Gust and Fundacity.

The report looked at the performance of UK accelerators and found that they invested $9.9 million in start-ups in 2015. 

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Employees’ financial well-being overlooked, according to CBAM

June 15 ,2016 | by Claire Payne

Employers in the UK are overlooking the financial well-being of their staff, according to the Close Brothers Asset Management Business Barometer.

The research, which surveyed nearly 900 employers across the UK, found that nearly half of employers have no financial well-being strategy in place. 

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SME employers value soft skills, according to survey

June 15 ,2016 | by Helen Gould

SME employers are focusing less on age and academic achievement and are instead searching for candidates with soft skills gained through hands-on experience, according to eBay’s Soft Skills Index.

The index, which was published in partnership with YouGov, found that over half of SME employers value hands-on experience above anything else, whilst seven in ten recruiters believe that having soft skills is more important than having a degree. 

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Small businesses could lose £12000 a day without a smartphone, shows survey

Not having a smartphone for a day could result in a small business losing up to £12,000, according to a survey from Vodafone.

The report, which was conducted by YouGov on behalf of Vodafone, surveyed over 1,000 small and medium-sized businesses from the UK and found that not having a smartphone could cost each business four opportunities worth £3,000 each in a day. 

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RateSetter to help SMEs become more productive

RateSetter is to help SMEs by providing business loans. The peer-to-peer lending company, which connects investors with lenders, has so far helped individuals and sole traders, facilitating £1.3 billion of lending.

The company has now hired a specialist team to enable it to break into business loans. The service is being backed by the Government and supported by the British Business Bank. 

 

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Government launches new group for entrepreneurs

The Government has launched a new group to provide more support for entrepreneurs and encourage more people to set up their own business.

Business Secretary Sajid Javid has created the All-Party Parliamentary Group (APPG) for Entrepreneurship to help limited company contractors and small business owners resolve their business problems.

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Britain’s digital crisis costing UK £63 billion, according to report

Britain is in the midst of a digital crisis that is estimated to be costing the UK economy £63 billion in lost income, according to a government report.

The report, which was presented in the House of Commons by the Science and Technology Committee, found that millions of people in the UK lack basic digital skills. 

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Small northern cities contribute £82 billion to UK economy, shows report

June 13 ,2016 | by Hari Sri

Small and medium-sized cities (SMCs) in the North contribute £82 billion to the UK economy, according to a report from think tank IPPR North.

The report, City systems: the role of smaller towns and cities in growing the Northern Powerhouse, found that the North’s SMCs contribute more to the UK than Wales and Ireland combined and make up a third of the northern economy. 

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ACCA publishes financial guide for entrepreneurs

The Association of Chartered Certified Accountants (ACCA) has published a financial guide for entrepreneurs.

The report, entitled Financial management and business success – a guide for entrepreneurs, has been launched to help entrepreneurs understand how financial management can help their business and offers advice on how to successfully grow a business. 

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British workforce confident in their skills, according to survey

June 11 ,2016 | by Helen Gould

The majority of British workers feel confident about their skills, according to The City & Guilds Group’s first Skills Confidence Report.

The report, which surveyed 8,000 works from the UK, US, South Africa and India, found that British workers do not feel threatened by the expected rise in automation and artificial intelligence. 

 

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York voted UK’s top spot for freelancers

June 10 ,2016 | by Helen Gould

York has been named the UK’s top spot for freelancers in a report by PeoplePerHour.com.

The research identified where the UK’s freelance workers and contractors are based, and found that York has the fastest-growing number of self-employed people.

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