What’s New For Small Businesses This Week? – 29/01/2020

What’s New For Small Businesses This Week? – 29/01/2020

This week, the Media Officer announced that employers can now apply for a £1,000 cash boost to help them take on new trainees.

The reality of leaving the European Union’s customs and regulatory territory means new taxes, additional paperwork, and border checks.

Traineeship Employer Incentive Registration Form

Employers can now apply for a £1,000 cash boost to help them on new trainees.

The Media Officer announced on 27 January that employers can now apply for a £1,000 cash boost to help them take on new trainees.
The new scheme will support young people to gain the skills and experience they need, helping them to get a job, an apprenticeship, or pursue further study.

What will the funding do?

The cash boost, which is available until 31 July 2021, will help businesses with the cost of providing a high-quality work placement for a trainee.

This includes providing facilities, helping with travel costs or uniforms. Businesses offering traineeship opportunities will receive the £1,000 bonus for every trainee they take on with up to a maximum of 10 trainees.

Employers can claim the cash incentive for all work placements that have been completed since 1 September.

This will support the UK and businesses to fill and create more jobs, giving young people a better start while boosting productivity.

For more information visit:  https://www.gov.uk/government/publications/traineeship-employer-incentive-registration-form

Brexit Red Tape: UK Small Businesses struggles and solutions

The reality of leaving the European Union’s customs and regulatory territory means new taxes, additional paperwork, and border checks.

A month after the UK left the EU’s single market and customs union, UK SMEs are still working out whether they can afford to maintain once-thriving export businesses with the bloc. 

The Brexit red-tape curtain will be expensive – costing an average of  8-9% for both goods and services, exports and imports. That is around £25 billion a year in additional costs, saddled on UK exports. 

Since the UK left the EU, companies face extra courier fees, health certificates as well as duties on goods originating outside the UK, and administration of VAT.

Under its Brexit trade agreement, UK exporters to the EU now must prove the origin of their goods. Without this proof, their goods are subject to tariffs. Complex rules decide whether a product is sufficiently ‘local’ to qualify as tariff-free. 

In the UK, goods constitute 58% of exports to the EU.

Following a round table meeting on Thursday evening with Cabinet Office minister Michael Gove, a letter was issued by the CBI, the British Chambers of Commerce, the manufacturers’ group Make the UK, the Federation of Small Businesses, and the Institute of Directors.

The letter said the government needed to act quickly to overcome “the sizeable obstacles” faced by exporters.

The Cabinet Office Minister said after the meeting, which the business leaders believed was private, it is understood, that “some businesses are facing challenges with specific aspects of our new trading relationship with the EU”.

He added: “I want to let them know that we will pull out all the stops to help them adjust.”

Brexit border delays could see 142,000 tonnes of food wasted in six months

Ministers have admitted up to 142,000 tonnes of food could be wasted over the next six months.

An estimate drawn up by the government suggests food, drink, and feed equivalent to 96 million whole chickens may end up being thrown away.

It comes as fishermen protested outside Downing Street earlier this month complaining that new paperwork was causing lengthy delays at borders and seeing entire consignments wasted.

Boris Johnson said the government had provided £23m to the industry to deal with immediate problems, with a further £100m for a longer-term program.

He was answering Tory MP Sally-Ann Hart, naming a firm in her Hastings and Rye constituency. She said exporting fish had become “extremely challenging, expensive and time-consuming”.

 

Apply For a Business Loan Today

A business loan for any business purpose.

APPLY NOW