Category: Business News

Every successful business begins with a compelling idea, but not all ideas translate into viable businesses. Whether you are thinking about setting up in business or looking at a new idea to expand your existing business, evaluating a business idea is a crucial first step that can save time, money, and effort.

The Office of National Statistics has reported that inflation for July has risen to 2.2%. This is the first rise of 2024 after inflation fell during the early part of the year and then settled at 2% for May and June. A rise was expected because energy prices are now falling by less than they were doing a year ago.

Many families are considering the next steps for their school-leaving children. If your child plans to continue in approved education or training, it’s important to extend your Child Benefit claim before 31 August to avoid missing out on financial support. Child Benefit can continue if your child, aged 16 to 19, is enrolled in full-time non-advanced education or approved unpaid training.

The Information Commissioner’s Office has launched a new tool that can help small businesses create a bespoke privacy notice that protects people’s information rights.
By law, businesses must explain why it holds people’s information and what it does with it. This allows customers, suppliers, staff and volunteers to know what will be done with their personal information.

As a pensioner you were likely dismayed to learn that Winter Fuel Payments are now being restricted to those who are on benefits and Pension Credit. The Winter Fuel Payment is a key benefit to help with increased heating costs during winter that was previously paid to all pensioners. However, with recent changes, the payment is now means-tested and linked to eligibility for Pension Credit.

A small business from Barnsley, Slime Party UK, has successfully secured government-backed financing, enabling it to significantly expand its operations, create new jobs, and develop new product lines. This success story provides a valuable blueprint for other small businesses seeking to grow, especially those looking to enter or expand in export markets.

Andrew Paul Bird, a 60-year-old former investment firm director from Quarndon, Derbyshire, has been subjected to the maximum 15-year bankruptcy restrictions after being found guilty of defrauding investors. Mr Bird misled 13 individuals and couples into investing in a fraudulent scheme between 2011 and 2016, promising secure returns while exposing them to significant financial risks for his personal gain.

A recent case involving a former employee of Enterprise Rent-A-Car highlights the importance of robust data protection measures. Jonathan Riches, 46, was fined £10,000 and ordered to pay £1,700 in costs after pleading guilty to illegally accessing motorists’ personal details.

The recent riots have left many small businesses dealing with damage and disruption. The Federation of Small Businesses (FSB) Insurance Service has created some guidance to help businesses that have been affected. The guide includes practical steps that businesses can take when experiencing or expecting problems.