Throughout this entire trying time there has been little to be thankful for, especially in the sphere of small businesses. Moneis have been scarce, bank loans thin on the ground and the public at large are going through the type of austerity drive that would dry up even the most lucrative streams of income.
It is in this light that even the smallest of mercies comes as a blessing. Therefore at least the Bank of England has kept the interest rate at only 0.05% for more than a year, at least this can in some keep long term debts down while the companies have to re-adjust in the short term.
How long this state of affairs is likely to continue is more in the hands of those great economists, but in the mean time if spending is kept to a minimum, and all economies are to be maximised so that small business comes out the other side fitter and leaner than ever.
Monday, 21 February 2011
Tuesday, 15 February 2011
Small Business in the Big Society
What position has small business in this new-fangled "Big Society"? The big society is set to change the nature of the British landscape, for better or worse depending upon who you listen to. There will be change that is for certain. But what will be the effect upon small businesses. As it currently stands the small business community is already under pressure from the rather slow progress in the recovery, but this voluntary move might be just as bad.
In the big society, where most of the tasks are to be taken up by the voluntary sector by good-minded citizens, this all sounds absolutely fantastic, except that it overlooks the fact that many small businesses survive on public sector contracts, and that when they fulfill this role they also provide much needed local employment. Nor does cover the fact that answer the fact that only those able to volunteer will give their time.
When it comes to the overheads caused by companies in providing these services: wages, health and safety checks, company private health insurance, guarantees, it all goes to show that this may,in fact, impede the progress of small companies when this important part of the economy is in most need of a boost.
Yes, the "Big Society" may sound great on paper, but real life isn't drawn up on bits of paper.
In the big society, where most of the tasks are to be taken up by the voluntary sector by good-minded citizens, this all sounds absolutely fantastic, except that it overlooks the fact that many small businesses survive on public sector contracts, and that when they fulfill this role they also provide much needed local employment. Nor does cover the fact that answer the fact that only those able to volunteer will give their time.
When it comes to the overheads caused by companies in providing these services: wages, health and safety checks, company private health insurance, guarantees, it all goes to show that this may,in fact, impede the progress of small companies when this important part of the economy is in most need of a boost.
Yes, the "Big Society" may sound great on paper, but real life isn't drawn up on bits of paper.
Monday, 7 February 2011
The Benefits of Healthcare
A brand new initiative by the Forum for Private Business [FSB] has shown that there are some several benefits in employee health insurance for small businesses, and there are ways to get around the potentially prohibitive costs for companies that are just too small take take out a policy on their own.
The benefits of a healthy workforce are clear to almost everybody when they think about it. A healthier workforce is not only a happier workforce, but a healthy workforce is also more likely to be present, and when at work a more vigorous workforce.
Studies have shown, time after time, that a business healthcare plan brings healthier employees, and that the healthier the employee the more likely they will be able to return to work all the quicker, and all the fresher for their time off. And that a healthy happy workplace is a lot less likely to suffer from Monday morning 'sivkies' and we all know that this takes place.
And all this can be achieved by the smallest of businesses by organisations like the FSB offering discount if the insurance is taken out by the members through a collective insurance in the name of the umbrella organisation. Simple.
The benefits of a healthy workforce are clear to almost everybody when they think about it. A healthier workforce is not only a happier workforce, but a healthy workforce is also more likely to be present, and when at work a more vigorous workforce.
Studies have shown, time after time, that a business healthcare plan brings healthier employees, and that the healthier the employee the more likely they will be able to return to work all the quicker, and all the fresher for their time off. And that a healthy happy workplace is a lot less likely to suffer from Monday morning 'sivkies' and we all know that this takes place.
And all this can be achieved by the smallest of businesses by organisations like the FSB offering discount if the insurance is taken out by the members through a collective insurance in the name of the umbrella organisation. Simple.
Tuesday, 1 February 2011
Smoking Areas at Work
If you have (still) some smokers left in your place of work, you know that it is in the best interests of everybody that the whole place is smoke free. The law provides for much of this, but you still do not want the unsightly look of a huddle of people standing outside the front door smoking away.
But a certain amount of leeway is needed to be given to these poor mites, after all they are not breaking any laws, but they certainly are not helping themselves through their actions. If you must provide a location for the smokers to smoke then try to make it as out of sight as possible, this helps not to tempt those who themselves have given up, and it makes it that little bit more awkward for those who still pertain.
And of course there is the overall health of the the company, if certain members of your company are smokers, this brings down the health & well-being of the company. If you have health insurance for employees of the company then this might cause slight problems, as not everybody will be at the same standard of healthiness, and that might affect the costs, and that would be unfair on everybody else.
But a certain amount of leeway is needed to be given to these poor mites, after all they are not breaking any laws, but they certainly are not helping themselves through their actions. If you must provide a location for the smokers to smoke then try to make it as out of sight as possible, this helps not to tempt those who themselves have given up, and it makes it that little bit more awkward for those who still pertain.
And of course there is the overall health of the the company, if certain members of your company are smokers, this brings down the health & well-being of the company. If you have health insurance for employees of the company then this might cause slight problems, as not everybody will be at the same standard of healthiness, and that might affect the costs, and that would be unfair on everybody else.
Friday, 21 January 2011
The Cost of Health Insurance for SMEs
It is often stated that the cost of private health insurance for small to medium businesses is far to high to justify the expenditure when overheads are so tight. But this is to underestimate everything that healthcare provision adds to a company of any size.
Yes, in the short term health insurance is yet another overhead, and yes things can be tight for small and local businesses, but it is still a question of scale, and all businesses in the end face the same problems, just that sometimes it is slightly more acute the smaller the business if key members of staff are unable to work for reasons of illness or accident. Let us face the facts that the bigger the business, the larger the staff, the more chance of overlap in particular roles, therefore the easier it is for people to cover for absenses: large companies always have a corporate health plan, and if it makes sense for them it makes more sense for a smaller business that has necessarily more limited resources to draw upon.
A healthcare insurance policy not only covers the costs of medical treatment but also affords the employer the cost of employing temporary staff in the meantime, and besides, the insurance does not have to be that expensive if you have a thorough look around.
Yes, in the short term health insurance is yet another overhead, and yes things can be tight for small and local businesses, but it is still a question of scale, and all businesses in the end face the same problems, just that sometimes it is slightly more acute the smaller the business if key members of staff are unable to work for reasons of illness or accident. Let us face the facts that the bigger the business, the larger the staff, the more chance of overlap in particular roles, therefore the easier it is for people to cover for absenses: large companies always have a corporate health plan, and if it makes sense for them it makes more sense for a smaller business that has necessarily more limited resources to draw upon.
A healthcare insurance policy not only covers the costs of medical treatment but also affords the employer the cost of employing temporary staff in the meantime, and besides, the insurance does not have to be that expensive if you have a thorough look around.
Friday, 14 January 2011
2011 Healthcare Predictions
2011 could see costs in healthcare increase due to budget restructuring in the NHS by the coalition government. This is expected to have an huge impact on the whole healthcare sector.
Employers face extra costs including increased corporate health insurance premium rates, an increase in tax and a National Insurance cost increase.
Businesses will need to either stump up the extra costs or find new ways to help make costs more manageable. They could either switch to a healthcare provider that offers them a more affordable deal or offer a different premium to employees that may offer less benefits but might allow them to contribute to if any added benefits are needed.
Employers face extra costs including increased corporate health insurance premium rates, an increase in tax and a National Insurance cost increase.
Businesses will need to either stump up the extra costs or find new ways to help make costs more manageable. They could either switch to a healthcare provider that offers them a more affordable deal or offer a different premium to employees that may offer less benefits but might allow them to contribute to if any added benefits are needed.
Thursday, 16 December 2010
Problems in Health Reform
A leading British Newspapers has recently flagged up that there may be serious consequences of the current coalition Government's proposed Health reforms. The article states that respected voices across various fields including healthcare, economics, management and even Conservative Party politics have stated this may cause a "train crash" in the NHS as it will impossible to keep up the level of service with the proposed level of funding.
This is possibly bad news for many small businesses, both in terms of their staff and in terms of their overheads as they will have to consider that it may become a necessity to look into employee medical insurance for the whole firm. This may instantly drive overhead up but surely it will have its benefits in the future. The simple fact is that with so many government cutbacks in the pipeline, a de facto Americanisation of the British healthcare system seems to be the only possible result.
Of course the failings of the NHS are no new thing, and private healthcare for many businesses could certainly be a far better option, the thing here is that the Government seems to be driving towards there being no choice in the matter. Some people would like to think that there could still be some choices left in Britain.
This is possibly bad news for many small businesses, both in terms of their staff and in terms of their overheads as they will have to consider that it may become a necessity to look into employee medical insurance for the whole firm. This may instantly drive overhead up but surely it will have its benefits in the future. The simple fact is that with so many government cutbacks in the pipeline, a de facto Americanisation of the British healthcare system seems to be the only possible result.
Of course the failings of the NHS are no new thing, and private healthcare for many businesses could certainly be a far better option, the thing here is that the Government seems to be driving towards there being no choice in the matter. Some people would like to think that there could still be some choices left in Britain.
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