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Business News Roundup – 7th May 2024

Business News England

Brought to you by DPC Accountants

Welcome to the DPC round up of the latest business news for our clients for 7th May 2024.

Please contact us if you want to talk with out team of experienced Stoke-on-Trent accountants about how these updates affect your business. We are here to support you!



5 essential steps to successfully establish and grow your new business

Build a solid foundation

If you are embarking on the exciting journey of starting your own business, then we wish you many congratulations!

As you navigate the path to entrepreneurship, it’s crucial to lay a solid foundation that sets your venture up for success and sustainable growth. Here are five important steps to consider as you establish and grow your new business.


New digital service to check your State Pension forecast launched

Check if you have any gaps in your National Insurance (NI) record

A new digital service has been launched that makes it easier to check if you have any gaps in your National Insurance (NI) record that may affect your State Pension entitlement.

The service is called Check Your State Pension forecast and can be accessed via GOV.UK or the HMRC app. You will need to register for or login to your Personal Tax Account to find the service.


How to defend your business from email compromise

Reduce the likelihood of being affected by Business Email Compromise

Email phishing attacks that target senior leaders and finance personnel in the business are on the increase. The National Cyber Security Centre (NCSC) has published guidance aimed at helping small to medium sized businesses to deal with Business Email Compromise (BEC).

The guidance considers actions that you can take to reduce the likelihood of being affected by BEC, and what to do if you think you’ve already been compromised.


Views sought from female entrepreneurs

Opportunities and challenges for female entrepreneurs in the UK

Small Business Britain, Square and Clearpay have commissioned a joint survey to understand the opportunities and challenges for female entrepreneurs in the UK.

The survey wants to find out about the experience female entrepreneurs have in running their own business and the ups and downs that go along with it. Insights from the survey will be published in June 2024.


Is your use of AI compliant with health and safety?

AI in the workplace

The Health and Safety Executive (HSE) has published an article outlining its approach to regulating artificial intelligence (AI) in workplaces.

The article has some implications that businesses should consider.


How might the changes to company size thresholds affect your business?

Which category does your company fall into?

From October 2024, company size thresholds are to increase by 50%. For each company, these new thresholds will begin to apply from the start of the next accounting period commencing on or after 1 October 2024. But what are the implications of these changes to your company?

The Companies Act 2006 makes requirements for what is included in the accounts that are filed at Companies House. These requirements are split into four categories or regimes based on the size of the company. These four sizes are described as micro-entity, small, medium-sized, and large.


Lessons to be learned from a data breach

The ICO take action

The Information Commissioners Office (ICO) recently reported on a reprimand they issued to a housing association after personal information became accessible in an online customer portal.

Clyde Valley Housing Association in Lanarkshire launched a new portal in 2022. On the first day of its release a resident discovered they could access personal information about other residents. As a result, they called a customer service adviser to report the breach.




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