As the Chinese economy continues to grow at over 10 per cent each year, an increasing number of SMEs are looking to set up a presence in China to take advantage of this growth. Although there are several forms of corporate vehicle available to SMEs, the two most popular are the equity joint venture (EJV) and the wholly foreign-owned enterprise (WFOE).
Whether on the race track, on the web or in the boardroom, data leaks are invariably bad news. Just ask Ferrari and McLaren, the F1 giants embroiled in controversy over allegedly stolen technical documents. Or Facebook, who mistakenly exposed a slice of their own source code recently, and thereby possibly their own users. Or Monster.com, who made the monster mistake of losing over a million customer records to expert “phishers.”
When is a u-turn not a u-turn? Many members of the Forum of Private Business (FPB) would argue that the Government’s suggested £100,000 in tax relief when they sell up and retire certainly fits the bill, following, as it does, the much-vaunted proposals to change the Capital Gains Tax system.
At best, it is a small step in the right direction. At worse, a limp gesture designed to ease the swelling tide of criticism from owner-managers, lobby groups and MPs since the Chancellor of the Exchequer, the Rt Hon Alistair Darling MP, announced that taper relief and indexation of Capital Gains Tax would be abolished.
Bank errors, delays and charges are costing UK businesses almost £100 million every year as companies are forced to waste time and money chasing lost or delayed international payments, according to new research.
Madonna and the Prince of Wales are two of an estimated 3000 select people who are being invited to join the world’s first private flight sharing club in an effort to reduce the environmental impact and cost of private jets that are currently flying empty 40% of the time.
The Flightshare Private Members Guild is the brainchild of Farnborough UK based David Lacy, an aviation veteran of 26 years who was the first to introduce carbon offsets to the European private jet industry last year.
Struggling to cope with late deliveries is nothing new for smaller business. Three years ago, when the Royal Mail’s second post was scrapped as part of the continuing drive to cut costs, many members of the Forum of Private Business (FPB) complained that late deliveries were hindering their ability to do business.
However, the latest delay is in naming the UK’s 2,500 post offices that are to face closure. This has been postponed from September and has left countless owners of small businesses on tenterhooks. Post offices are vital links in their supply chain, and many communities face prolonged agony because the process of consultation will not be concluded until October 2008, in some areas.
At the end of the ‘90’s the air was thick with revolution. Offices, newspapers and gastropubs across the land were alive with rumours that the end of the workplace as we knew it was nigh. With just a mobile phone and a laptop, people could work from anywhere, anytime. For some, tomorrow’s working world was a freelancer’s haven. To others, it was all hype.
Whichever way you look at it, the UK’s freelance community is growing and it includes some of the country’s most experienced and talented workers who make up a highly skilled, highly mobile and flexible 21st century workforce.
Your own boss
Some of the common reasons cited for going freelance include being your own boss, making more money, having freedom and variety and striking the work/life balance.
The directors of Britain’s companies are feeling the pressure from the growing risks and responsibilities they face – to the point where a majority are seriously questioning whether it is worth being a director at all – and those at small-to-medium sized enterprises are bearing the brunt.
These are the main findings of a major survey conducted in August by TakeLegalAdvice.com – an online service that matches businesses with law firms – which questioned 918 directors and senior managers at companies in the United Kingdom.
More than half of company directors polled – 55% – agreed that being a company director ‘is no longer a great job’, while 58% said that the risks and responsibilities of the role are increasingly outweighing the rewards. The proportions of SME directors – those at companies with between 2 and 249 staff – who say the same are higher still, especially those at companies with fewer than 10 employees, 61% of whose directors agreed with the statement.
Opus Energy – a leading independent electricity supplier to businesses – have just launched Opus Evolution, a real-time online energy purchasing system that gives customers direct access to wholesale electricity markets.
The system, which, for the first time, gives smaller (non-half hourly) customers the chance to take advantage of pricing deals normally only offered to larger (half hourly) customers, is the first of its type in the UK.
Windsor Telecom Plc, UK’s 2nd largest provider of 0845 memorable phone numbers and inbound call solutions has published a free guide to relocation aimed at UK businesses of all sizes.
The two handy guides, for the corporate and SME markets, provide valuable information on how to make the right move, an essential ten step plan to successful moving , and a comprehensive directory of useful contacts.
A new website is set to provide an easy boost for anyone seeking venture capital or private equity funding.
Investor Search is a specialist search engine that will greatly simplify the task of identifying investors with interests or preferences that match a company’s investment needs. It is designed for trading companies that need capital to grow, for start-ups looking to get off the ground or potentially anyone in the investment community.
With an average annualised turnover of £25 million, The Commercial Group is the largest independently owned office services company in the UK. In its 17 years of business it has built a reputation based on exceptional customer service, superior consultancy and a quality product range.
Determined to continue to spearhead change within its market place, Commercial works tirelessly to innovate, promote best practice and, where necessary, instigate debate to ensure the standards it has set itself as a company challenges others to assess their own processes and systems.
With this dynamic background it may be surprising that the Directors have thrown all of their efforts into a campaign across the business to embrace a culture which is unashamedly green. But because the business is at the top of its game it is crucial that it continues to seek ways to further differentiate itself from its competitors and this is where the almost messianic drive for green credentials has been put at the heart of the corporate agenda. Naturally where there are leaders in industry there are followers and what once set you apart can eventually become a standard offering.
The ability to change
For Commercial its ability to anticipate change and ensure it can accommodate it, whether it is an e-commerce solution or software integration, has enabled the company to not only develop and grow but remain the supplier of choice to over 6000 companies.
A belief, held by many, that ‘It’s not easy being green’, still seems to prevail for many small-to-medium sized businesses. Upheaval, cost, disruption, unfeasibility or simply a belief that such changes are the responsibility of the multinationals are just a few of the reasons that some managers have previously cited for their inactivity in this particular area. Today, things are changing, but more still needs to be done, and the current business climate is structured to allow SMEs to actually lead by example, showing the way for big businesses to follow rather than hoping that a lack of action will pass under the radar unnoticed.
Corporate social responsibility is so named for a reason – it’s a responsibility, no matter what size the organisation – and it’s one that the Government is willing to encourage with financial incentives. Not to take advantage of attractive options – before they become uniform legislation anyway – seems foolish, especially as it’s almost guaranteed that for every stubborn manager that resists and continues to swim against the sea, there is probably any number of competitors taking advantage of the many cost-saving sustainable options that are available.
It’s tough for would-be entrepreneurs carrying the tag “budding” in front of their career description. But it’s a stage they all go through – somewhere between having the idea to go it alone and taking delivery of the executive jet.
For most budding entrepreneurs it’s a familiar picture: you wake up at 6am to start your work day, only you aren’t heading into town to sit at some comfy corner corporate office suite. You might still put on a suit and tie, but you are in fact only headed as far away your home office, which is, in fact, a desk in the corner of the lounge. With the cat and dog as your only company, you begin to settle down to work for the day.