FSB meets with Chancellor ahead of Autumn Budget
FSB’s policy chair, Tina McKenzie, met with Chancellor Rachel Reeves this week to discuss small businesses priorities ahead of the upcoming Autumn Budget (30 October). The Federation of Small Businesses (FSB) has been actively calling for the Government to bring in measures that help small firms grow, employ more staff, and power economic growth. This includes increasing the Employment Allowance and reintroducing the Statutory Sick Pay rebate, which Tina raised with the Chancellor during their meeting. FSB is also calling for business rates to be reformed, Entrepreneurs’ Relief to be protected, and the unscrupulous blanket use of personal guarantees on loans to be banned.
New legal duty for employers to prevent sexual harassment
The Worker Protection (Amendment of Equality Act 2010) Act 2023 comes into effect on Saturday, 26 October 2024. This law places a new duty on employers to take ‘reasonable steps’ to prevent sexual harassment. The new legislation also sets out that tribunals will have the power to increase compensation by up to 25 per cent if they find an employer has breached this duty. According to Acas, 14 per cent of employers and 6 per cent of employees said they had witnessed sexual harassment in their workplace. FSB members have access to employment law advice from FSB Legal.
Campaigning for fair banking for SMEs
FSB National Chair Martin McTague attended the Financial Exclusion and the Potential of a Fair Banking Act roundtable, organised by the Fair Banking for All Campaign and the APPG on Fair Banking, highlighting issues facing small business owners, such as the use of personal guarantees. FSB has called these a straitjacket on business growth. He also said the proposed Fair Banking Act could unlock millions of pounds in lending to small businesses. The event was also attended by the Association of British Credit Unions, Alpkit, Lendology, MoneyMatiX, the Finance Innovation Lab, and actor and activist Martin Sheen.
Important updates to right-to-work documentation
Employees who use physical copies of immigration documents as proof of their right to work in the UK are being urged to transition to eVisa documentation. Digital documentation can be obtained through the gov.uk website. The transition to digital and electronic documentation is being rolled out as part of the Government’s plans to fully digitise the UK’s border and immigration system. More information on the transition to eVisas can be found on the Government website.
Apprenticeships for small businesses
FSB met with the CEO of the Institute for Apprenticeships and Technical Education (IfATE), Jennifer Coupland, about making apprenticeships meet the needs of small firms. FSB is campaigning for the 95 per cent or 100 per cent contribution towards apprenticeship training costs for non-levy-paying businesses, which is vital for many firms, to be protected, as outlined in FSB’s Scaling Up Skills report.
Closing the skills gap for SMEs
FSB’s national chair, Martin McTague, attended a roundtable hosted by the new Government body, Skills England, focusing on how skills-related issues facing small employers can be resolved. Earlier in October, the Institute for Apprenticeships and Technical Education (Transfer of Functions etc) Bill abolished IfATE, transferring its functions to the Secretary of State for Education, as part of the establishment of Skills England, which will be responsible for the oversight of Apprenticeships and technical education.
World Cup of Stations 2024 winner announced
Maghull Station, Merseyside, was announced as the 2024 winner of the Rail Delivery Group’s World Cup of Stations. This year’s contest celebrated the diverse small businesses found in train stations across Great Britain, such as delis, florists, and cafés, that enrich local communities and economies. More than 100,000 votes were cast. FSB’s national chair, Martin McTague, said: “Congratulations to Maghull Station and small business The Coffee Carriage, based there. Well done to all our rail stations that offer great small business products and services to consumers”.
Small and medium sized businesses encouraged to bolster cyber defences
The National Cyber Security Centre (NCSC) has said that Russian foreign intelligence poses a global threat with a cyber campaign exploiting established vulnerabilities. Organisations, including small and medium sized businesses, are encouraged to bolster their cyber defences and follow advice set out within the NCSC advisory. FSB research finds that 72 per cent of SMEs experienced cyber crime between 2021 and 2023. October is cyber security awareness month.
New requirements for EU imports
Businesses that import goods to Great Britain from the EU will be subject to new safety and security declaration requirements from January 2025. Under the new regulations, importers, including carriers and hauliers, will need to submit a declaration to HMRC specifying that imported goods comply with safety and security standards, helping to increase the speed of border checks and reduce the risk of the importation of illicit goods to the UK. The new guidance doesn’t replace or amend existing Government guidance for those exporting goods to the EU from Great Britain and Northern Ireland, where the use of signed safety and security declarations is already in place.
First Minister says innovative small firms are crucial to growth
First Minister of Scotland John Swinney gave a keynote speech on the nation’s public finances and future priorities. Swinney said Scotland must “invest to grow”, calling for next week's Autumn Budget to change fiscal rules to allow more borrowing to invest in public services. In response to a question from FSB’s director of devolved nations, Colin Borland, the First Minister said it was important that public sector reform taps into the expertise of Scotland’s innovative small firms.
Tackling small business issues across Europe
SMEunited’s board meeting in Poland was attended by FSB and other small business organisations from across Europe. Common challenges and priorities facing small firms were discussed and FSB had productive exchanges with a number of representatives, including Poland's undersecretary of state for trade, Magdalena Sobkowiak, and Jan Klimek, vice president of the Polish Craft Association. Small firms across Europe face a range of common issues, including late payments and regulatory burdens.
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Copyright: Federation of Small Businesses (FSB Westminster) 2024. All rights reserved.