Spending review
All the speculation, leaks and informal briefings were finally over as the spending review was announced on Wednesday. Could have been better/ could have been worse was the overall response depending on which side of the political fence the reviewer sat.
People per hour.com ran a survey of 1,000 small businesses, 60% of which were now pessimistic about winning work from the Public sector. Meanwhile a survey by YouGov revealed that 58% of the British Public saw the cuts as having been inevitable. The CBI was largely supportive and welcomed additional spending on capital projects as well as the 75,000 additional apprentices to be created.
Meanwhile the EU bucks cost saving trend
Whilst the EU countries are cutting budgets, MEPs have just voted the EU an increase in their budget of €7.3 billion to €129 billion. This increase which was passed by a sizeable majority of MEPs has been condemned by EU states including the UK.
Lending to business continues to fall
Quarterly figures released by the Bank of England show that the level of lending to businesses continues to fall. Gross lending for Quarter 3 at £24.4billion was down £1.3billion on the previous quarter. Part of this seems to be as a result in a drop in demand. On the positive side, the quarterly Deloitte survey had more repliers reporting that credit was available as opposed to being hard to get.
How to avoid being hacked
According to KPMG, hacking has affected over 250million people in the last 3 years. For those anxious to avoid being caught, here are their ten tips to avoid data loss.
http://www.infosecurity-magazine.com/view/13211/top-10-tips-to-avoid-data-loss/
So, what do we have to look forward to?
For a start there is the CBI annual conference. With speeches by various ministers, it will be interesting to gauge the overall business confidence levels following the spending review last week.
Parliament is sitting with most interest for SMEs in Select committees on Business, Innovation & Skills on Tuesday and the effects associated with changing Summer Time on Thursday.
And finally
If you catch your employees asleep at work, perhaps you could recoup some income by entering them for the Spanish Siesta competition. The competition won last week by a security guard, earned him the equivalent of £890. The competition took place in a shopping centre and points were awarded for volume of snoring, speed of falling asleep and innovative sleeping position.
Monday, 25 October 2010
Monday, 18 October 2010
Wonderful Wefinda weekly news (Week ended 15 October 2010)
Inflation stubbornly high
To no great surprise the inflation figures for September came out at 3.1%, still higher than the target of 2%. Key among the figures was an increase in the cost of basics such as clothes (up 6.4%) and food. With growth having slowed in the third quarter alongside house price falls there are renewed calls for the Bank of England to do more to stimulate the economy, despite the danger that this might lead to further inflation rises.
How secure is your e-mail
Moving your IT to the cloud makes great sense as it brings in added security alongside cost savings. However, a new warning has been issued by InfoSecurity to make sure that you always ask basic questions on topics such as data security, storage and retrieval before committing your data to the cloud. This is particularly important for e-mail which InfoSecurity warns can carry up to 80% of your intellectual property.
Get ready for those floods
In response to the major flooding seen in many parts of the country over the past few years, a major flood exercise is to take place across the country next March. Volunteers from business, local parish councils and individuals are wanted. This could be a great way of flood planning for your business. For more information check out the website http://exercisewatermark.co.uk/en/homepage.aspx
So, what do we have to look forward to?
Top of everyone’s list for the week ahead is the Public Spending Review. Although this is due to be formally announced on Wednesday, there are so many hints, tips and leaks flying around that it is difficult to distinguish the truth from the anticipation. Whatever it contains, this review will have a major impact for SMEs with supporting contracts in the supply chain and we await the formal announcement with great interest.
And finally
This was the week that Lord Young published his report on health & safety saying that far too many people use health & safety as an excuse and recommending that regulations should be simplified to bring back common sense. It was therefore ironic that the latest major art work at the Tate modern had to be closed to the public amid fears of excessive dust. The work consisting of 100 million ceramic sunflower seeds was supposed to be tactile with visitors expected to walk through and play in the exhibit.
To no great surprise the inflation figures for September came out at 3.1%, still higher than the target of 2%. Key among the figures was an increase in the cost of basics such as clothes (up 6.4%) and food. With growth having slowed in the third quarter alongside house price falls there are renewed calls for the Bank of England to do more to stimulate the economy, despite the danger that this might lead to further inflation rises.
How secure is your e-mail
Moving your IT to the cloud makes great sense as it brings in added security alongside cost savings. However, a new warning has been issued by InfoSecurity to make sure that you always ask basic questions on topics such as data security, storage and retrieval before committing your data to the cloud. This is particularly important for e-mail which InfoSecurity warns can carry up to 80% of your intellectual property.
Get ready for those floods
In response to the major flooding seen in many parts of the country over the past few years, a major flood exercise is to take place across the country next March. Volunteers from business, local parish councils and individuals are wanted. This could be a great way of flood planning for your business. For more information check out the website http://exercisewatermark.co.uk/en/homepage.aspx
So, what do we have to look forward to?
Top of everyone’s list for the week ahead is the Public Spending Review. Although this is due to be formally announced on Wednesday, there are so many hints, tips and leaks flying around that it is difficult to distinguish the truth from the anticipation. Whatever it contains, this review will have a major impact for SMEs with supporting contracts in the supply chain and we await the formal announcement with great interest.
And finally
This was the week that Lord Young published his report on health & safety saying that far too many people use health & safety as an excuse and recommending that regulations should be simplified to bring back common sense. It was therefore ironic that the latest major art work at the Tate modern had to be closed to the public amid fears of excessive dust. The work consisting of 100 million ceramic sunflower seeds was supposed to be tactile with visitors expected to walk through and play in the exhibit.
Tuesday, 12 October 2010
Wonderful Wefinda weekly news - Week ending 8 October 2010
Base rate unchanged
To no great surprise, the Bank of England’s monetary policy committee voted to keep base rates unchanged at 0.5%. Most economists are expecting the rate to stay unchanged well into 2011 thus allowing some stability in the lending markets. Wefinda has one note of caution to those who have managed to squeeze some finance from the banks. Make sure that there is some leeway in your ability to service the borrowing as increased interest payments have caught out many a business in the past.
Chemical rights and wrongs
As if the chemical spill in Hungary causing pollution to parts of the Danube and worries on the effect on wildlife and the food chain wasn’t bad enough we now have news of a collision in the Channel between a tanker carrying chemicals and another ship. The tanker is carrying 6,600 tons of solvent which would wipe out marine life over a wide area if it leaked. A recent reminder from NetRegs on the regulations relating to the manufacture, import and use of chemicals is therefore very timely. With a few exceptions these regulations apply to those using chemicals so it is worth all businesses checking out their responsibilities and liabilities. http://bit.ly/bixJz1
Mixed prospects for unemployment
The Reed job index which measures job vacancies rose by 2% last month to the highest level seen in the last six months. Salaries remain fairly flat reflecting the pressure on keeping control of costs and the buyers market being enjoyed by employers. Many bosses admit to holding out for the results of the government spending review with growing acceptance that these will result in further job cuts being required not only in the public sector but in businesses which service public contracts.
Increase productivity by profit sharing
A survey by Kelly came to the conclusion that employees work more productively if they are offered a share of the profits. With 30% of UK workers already in a profit sharing scheme, 36% of the rest believe they would put more effort in for a share of the rewards. Apart from salary improvements, employees would also welcome more training, flexible hours and health packages.
So, what do we have to look forward to?
For all entrepreneurs out there or for businesses looking for hints on how to grow, the E2live entrepreneur exhibition on 17 & 18 November at Excel London may be worth a visit.
The House of Commons is back in business with select committee reports on Tuesday covering matters such as public accounts, local enterprise partnerships and energy & climate change.
And finally
With hot desking becoming the norm in many companies, China has gone one better with hot benching. A park in Shandong province has introduced coin operated benches to give everyone a chance of a rest. When time is up, dozens of short steel spikes shoot up through the seat making it too uncomfortable to sit on.
To no great surprise, the Bank of England’s monetary policy committee voted to keep base rates unchanged at 0.5%. Most economists are expecting the rate to stay unchanged well into 2011 thus allowing some stability in the lending markets. Wefinda has one note of caution to those who have managed to squeeze some finance from the banks. Make sure that there is some leeway in your ability to service the borrowing as increased interest payments have caught out many a business in the past.
Chemical rights and wrongs
As if the chemical spill in Hungary causing pollution to parts of the Danube and worries on the effect on wildlife and the food chain wasn’t bad enough we now have news of a collision in the Channel between a tanker carrying chemicals and another ship. The tanker is carrying 6,600 tons of solvent which would wipe out marine life over a wide area if it leaked. A recent reminder from NetRegs on the regulations relating to the manufacture, import and use of chemicals is therefore very timely. With a few exceptions these regulations apply to those using chemicals so it is worth all businesses checking out their responsibilities and liabilities. http://bit.ly/bixJz1
Mixed prospects for unemployment
The Reed job index which measures job vacancies rose by 2% last month to the highest level seen in the last six months. Salaries remain fairly flat reflecting the pressure on keeping control of costs and the buyers market being enjoyed by employers. Many bosses admit to holding out for the results of the government spending review with growing acceptance that these will result in further job cuts being required not only in the public sector but in businesses which service public contracts.
Increase productivity by profit sharing
A survey by Kelly came to the conclusion that employees work more productively if they are offered a share of the profits. With 30% of UK workers already in a profit sharing scheme, 36% of the rest believe they would put more effort in for a share of the rewards. Apart from salary improvements, employees would also welcome more training, flexible hours and health packages.
So, what do we have to look forward to?
For all entrepreneurs out there or for businesses looking for hints on how to grow, the E2live entrepreneur exhibition on 17 & 18 November at Excel London may be worth a visit.
The House of Commons is back in business with select committee reports on Tuesday covering matters such as public accounts, local enterprise partnerships and energy & climate change.
And finally
With hot desking becoming the norm in many companies, China has gone one better with hot benching. A park in Shandong province has introduced coin operated benches to give everyone a chance of a rest. When time is up, dozens of short steel spikes shoot up through the seat making it too uncomfortable to sit on.
Wonderful Wefinda weekly news
(Week ended 01 October 2010)
Regulations change over on the first of October
The 6th April and the 1st October should be ringed in red on all business calendars as these are the two dates when government regulations change. Headline changes this October include the increase in the national minimum wage and the new equality act affecting a range of employment issues. Depending on your industry, other important changes include revised rules for recruitment agencies, new conditions imposed on those serving alcohol and new building regulations on energy conservation and ventilation. If you aren’t sure how the changes will affect you, check with your local business link.
What do you insure against?
Ask anyone to name the top ten reasons for insurance claims in the world in the last decade and most would put 9/11 at the top of the list. Zurich North America has put together its own list based on lives lost, business impact and geographic spread. Included in the list alongside 9/11 are natural disasters such as the Icelandic volcano, floods in Pakistan, the earthquake in China, the Boxing Day tsunami and the 2005 hurricane season. Pandemics make their mark with last year’s swine flu and the 2003 SARS epidemic whilst the worldwide financial crash also takes its place in the top ten. Finally, the 2003 power failure in North America and Canada enters the top ten with an estimated 55 million people affected by loss of power and water.
Keeping your staff loyal
A recent report by the Chartered Institute of Personnel and Development suggests that a third of all employees plan to change firms as soon as the job market improves. One way to help keep your staff loyal may be to offer financial advice as part of the benefits package. A recent survey by Scottish Widows concludes that four in ten employees would like pension related advice whilst 25% would like advice on other finance matters.
So, what do we have to look forward to?
With a 24 hours strike starting on the London tube on Sunday, London businesses can expect the usual transport disruption on Monday and into early Tuesday with staff unable to attend work and deliveries affected.
The Commonwealth games finally gets underway and it won’t be long before the spotlight transfers to the London 2012 Olympic Games. There are still plenty of contracts up for grabs and small businesses are being urged to apply. Check out the official website here http://www.london2012.com/get-involved/business-network/index.php
And finally
Help is on hand for those rural businesses that fear they are being ignored by the police. The Lincolnshire force has added a tractor to their fleet of response vehicles. The tractor, complete with flashing blue light and full police paint job will patrol agricultural events to promote the Lincolnshire Farm and Country Business Watch scheme.
Regulations change over on the first of October
The 6th April and the 1st October should be ringed in red on all business calendars as these are the two dates when government regulations change. Headline changes this October include the increase in the national minimum wage and the new equality act affecting a range of employment issues. Depending on your industry, other important changes include revised rules for recruitment agencies, new conditions imposed on those serving alcohol and new building regulations on energy conservation and ventilation. If you aren’t sure how the changes will affect you, check with your local business link.
What do you insure against?
Ask anyone to name the top ten reasons for insurance claims in the world in the last decade and most would put 9/11 at the top of the list. Zurich North America has put together its own list based on lives lost, business impact and geographic spread. Included in the list alongside 9/11 are natural disasters such as the Icelandic volcano, floods in Pakistan, the earthquake in China, the Boxing Day tsunami and the 2005 hurricane season. Pandemics make their mark with last year’s swine flu and the 2003 SARS epidemic whilst the worldwide financial crash also takes its place in the top ten. Finally, the 2003 power failure in North America and Canada enters the top ten with an estimated 55 million people affected by loss of power and water.
Keeping your staff loyal
A recent report by the Chartered Institute of Personnel and Development suggests that a third of all employees plan to change firms as soon as the job market improves. One way to help keep your staff loyal may be to offer financial advice as part of the benefits package. A recent survey by Scottish Widows concludes that four in ten employees would like pension related advice whilst 25% would like advice on other finance matters.
So, what do we have to look forward to?
With a 24 hours strike starting on the London tube on Sunday, London businesses can expect the usual transport disruption on Monday and into early Tuesday with staff unable to attend work and deliveries affected.
The Commonwealth games finally gets underway and it won’t be long before the spotlight transfers to the London 2012 Olympic Games. There are still plenty of contracts up for grabs and small businesses are being urged to apply. Check out the official website here http://www.london2012.com/get-involved/business-network/index.php
And finally
Help is on hand for those rural businesses that fear they are being ignored by the police. The Lincolnshire force has added a tractor to their fleet of response vehicles. The tractor, complete with flashing blue light and full police paint job will patrol agricultural events to promote the Lincolnshire Farm and Country Business Watch scheme.
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