The latest figures from the Office for National Statistics (ONS) reveal that the UK’s economy grew by 0.5% between April and June, a slight dip from the initial estimate of 0.6%. This adjustment, largely due to sharper-than-expected declines in the manufacturing and construction sectors, comes at a pivotal moment as the Labour government gears up to unveil its first Budget at the end of the month.
As of 1st October, new laws are in place to ensure that workers keep 100% of the tips, gratuities, and service charges they earn. This is a major development for employees in sectors such as hospitality, where tipping plays a significant role in take-home pay, and for employers, who will need to ensure they comply with the new rules.
If you’re a new parent, congratulations! Apparently, around 2,000 babies are born on 26 September each year – more than any other day. Therefore, HM Revenue and Customs (HMRC) is reminding parents to claim their Child Benefit. A claim can be made online and the first payment could be made within a week of claiming.
Companies House have rolled out a new penalties regime as part of a broader effort to boost corporate transparency and combat economic crime, following the implementation of the Economic Crime and Corporate Transparency Act 2023. This could mean tougher consequences in the shape of financial penalties for companies that don’t meet their obligations, including filing their confirmation statements on time.
If you’re a door supervisor or security guard, or you employ them, you’ll need to be aware of some important changes that may affect you as we approach 2025. From 1 April 2025, new training will be compulsory for anyone looking to renew their licence. This update, introduced by the Security Industry Authority (SIA), aims to refresh and improve the safety-critical skills needed to keep the public safe.
Being an effective leader involves recognising it’s impossible to be right all the time. Constructive conflict should be embraced in business. In fact, sometimes “no” is ultimately more useful than ‘yes”. The best managers and leaders in the business world, seek and accept critical feedback from trusted colleagues to maintain a balanced perspective.
What is it and how can it be harnessed by your firm? Neuromarketing is a field of marketing that combines neuroscience and psychology to understand consumers’ subconscious reactions to marketing stimuli. Neuromarketing uses knowledge about the way our brains are structured and how they interpret the world around us and make decisions in order to develop more effective marketing practices.
Any successful business has to balance two different time horizons -long and short-term. In the short term, a business needs to cover its costs, pay salaries and function on a day-to-day basis. However, if it focuses too much on the present, there is a risk that potential opportunities will be missed. Conversely, if a firm’s sole focus is on long-term opportunities, it could quickly become unprofitable. In the words of Jack Welch, former CEO of General Electric, “you can’t grow long-term, if you can’t eat short-term.”
How do you reset at work after a break or a quieter summer period? Resetting at work after a break or a quieter summer period is crucial for regaining productivity and focus. The process begins with getting organised and prioritising tasks. Reviewing upcoming projects, deadlines, and emails allows you to assess what requires immediate attention.
Late payments are a huge headache for small businesses across the UK, costing SMEs around £22,000 per year on average. In fact, it’s estimated that they’re responsible for about 50,000 business closures each year! The government has just announced new measures to tackle the problem, but these won’t come into play overnight, so what can you do in the meantime to protect your business?
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