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.