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What are the key issues Brexit will cause for businesses

WHAT ARE THE KEY ISSUES BREXIT WILL CAUSE FOR BUSINESSES

Posted on: 15/10/2020

 

Whilst much of 2020 has been swallowed up by Covid, the UK’s transition period post-Brexit is still marching on. Come January 2021, new rules will impact on every aspect of our lives. Every business will be affected in a different way, depending on their sector and size, but here’s a checklist of the key issues that businesses need to know.

Supply chain

A 2020 survey, carried out by Descartes in July, reveals that the biggest concern for businesses is delays to...

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Categories: In the news, Business Support, Top Tips

Becoming a charity trustee: why, how and what’s involved.

BECOMING A CHARITY TRUSTEE: WHY, HOW AND WHAT’S INVOLVED.

Posted on: 15/10/2020

 

Charities rely on volunteers throughout their organisations, from those who work in shops to those who help run the charity. A trustee is a volunteer who does the latter, a member of the governing body who is responsible for the general management of the charity. Trustees are unpaid (expenses are often covered) and not full time and, depending on the charity, expected to attend board meetings at monthly or quarterly periods.

Why become a trustee?

Charities do not have the...

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Categories: Business Support, Top Tips

Corporate Insolvency and Governance Act 2020

CORPORATE INSOLVENCY AND GOVERNANCE ACT 2020

Posted on: 16/07/2020

 

Corporate Insolvency and Governance Act 2020: What This Means for Businesses.
The Government’s recently published Corporate Governance and Insolvency Bill received Royal Assent on 25 June, making it law. It has been introduced to help UK businesses survive the current challenging times as well as protecting jobs and assisting in the UK’s economic recovery.
The Act dictates new aspects relating to insolvency and restructuring, intended to give companies space and time to boost...

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Categories: In the news, Business Support

Managing Mental Health for Your Employees

MANAGING MENTAL HEALTH FOR YOUR EMPLOYEES

Posted on: 16/07/2020

 

The coronavirus pandemic forced employers and employees into a virtually unplanned situation. Almost overnight, staff had to start working from home where possible, making the most of space in their homes and often having to share this with partners also working from home as well as children being home schooled. This enormous shift, coupled with a rapidly unfolding health crisis, highlighted the need for employers to safeguard their teams’ mental health.
Your staff may have suffered ill...

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Categories: In the news, Business Support

Pandemic Leadership Programme

PANDEMIC LEADERSHIP PROGRAMME

Posted on: 25/06/2020

 

NED Solutions is pleased to be sponsoring a series of workshops under the heading “Pandemic Leadership. Some lessons for today and tomorrow (in our remote new normal)”.
NED Solutions recognises that the lockdown impact on its clients will result in long term changes that need to be thought about now and is presenting this workshop initiative with its business partner, CoachDirectors. The workshops are being made available free of charge and the introductory first session will run...

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Categories: Business Support, Business Development, Top Tips

What can business do to survive COVID-19

WHAT CAN BUSINESS DO TO SURVIVE COVID-19

Posted on: 16/04/2020

 

Many of us wake up these days and ask ourselves whether the world has been involuntarily entered in a bizarre socio-economic experiment. Every code we live by and every norm we have come to accept are now fair game for an invisible organism that guards its own code and timeline with absolute secrecy.
Society continues, as it must, with universal uncertainty as a new travelling companion and undefined hope as a faraway beacon.
Continue we must, drawing comfort from anything good that remains...

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Categories: In the news, Business Support, Top Tips

Government’s financial response to business

GOVERNMENT’S FINANCIAL RESPONSE TO BUSINESS

Posted on: 16/04/2020

 

Government’s financial response to business
No doubt you have been well-supported by your professional advisors during the global coronavirus crisis and are aware of the many schemes being rolled out to support businesses.

Be sure to have considered all of the following:
The Small Business Grant Scheme providing £10,000 to all businesses who receive Rural Rate Relief or Small Business Rate Relief SSP relief for SMEs Furloughing of your staff The Self-employed...

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Categories: In the news, Business Support

Amendments to Money Laundering Regulations, January 2020

AMENDMENTS TO MONEY LAUNDERING REGULATIONS, JANUARY 2020

Posted on: 10/02/2020

 

On 10 January 2020, the Money Laundering and Terrorist Financing (Amendment) 2019 became law. It updates the UK’s existing anti-money laundering regulations, incorporating the 5th EU Anti-Money Laundering Directive (5AMLD). This is a further step by the EU to tackle ongoing and new money laundering threats. It’s a far reaching piece of legislation but here are the key effects it will have on UK businesses.
 
Wider scope of businesses
5AMLD has increased the types...

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Categories: In the news, Business Support, Business Development

Leuka

LEUKA

Posted on: 10/02/2020

 

NED Solutions’ chosen charity is Leukaemia UK and we are very proud to be a supporter of such an incredible cause. They have now joined forces with another blood cancer charity, Leuka. The merger will vastly increase their presence and fundraising ability. The newly formed charity is called Leukaemia UK and has almost 80 years of experience in working with blood cancer; 37 years of Leuka’s research combined with almost 40 years of funding research projects and supporting those affected...

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Categories: About NED, Business Support

IR35: Are You Ready for the Changes?

IR35: ARE YOU READY FOR THE CHANGES?

Posted on: 10/02/2020

 

The rules surrounding IR35 are changing in April 2020. They signal one of the biggest tax changes in recent times for businesses and third party workers. Are you ready for the changes and how you should be preparing? 
Why is IR35 changing?
Contractors – or off-payroll workers - who work for private sector organisations are currently able to set their own IR35 status, which affects how much tax they need to pay. HMRC were of the belief that the existing IR35 legislation "is...

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Categories: In the news, Business Support

Finance Options for SMEs

FINANCE OPTIONS FOR SMES

Posted on: 30/10/2019

 

Finance Options for SMEs
Small and medium sized enterprises - SMEs - account for more than 99% of all businesses in the UK. That’s 5.7 million businesses who employ between 0 – 250 people, amounting to 60% of the private sector workforce. 
Economic uncertainty has seen a slight fall in numbers of businesses but a noticeably larger decline in external financing, with only around a third of SMEs seeking finance. This suggests that expansion and development plans are on...

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Categories: Business Support, Business Development, Top Tips

Understanding Business Fraud

UNDERSTANDING BUSINESS FRAUD

Posted on: 12/08/2019

 

The Risks and Cost to Business
Being deceived out of money is on the increase and you may well know someone who has been the victim of fraud. They probably handed over their money after a sophisticated and elaborate ploy – convincing enough for them not to question it. And it’s not just individuals who fall victim to fraud. Businesses are increasingly falling foul. So, what are the key points to look out for and how can you protect your business?
Invoice Fraud
A study...

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Categories: About NED, Business Support, Top Tips

The Rise and Fall of Small Businesses and External Finance

THE RISE AND FALL OF SMALL BUSINESSES AND EXTERNAL FINANCE

Posted on: 26/07/2019

 

Small and medium sized business are still on the rise in the UK. A recent report by the British Business Bank showed some fascinating findings, many encouraging for SMEs and also indicative of the effect they feel Brexit will have. 
How many SMEs are there in the UK? 
5.7 million UK business are now SMEs; more than 99% of all UK businesses  60% of UK sector employees work in an SME  More than 1000 new business were formed every day in 2018; 382,000 in total.  To...

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Categories: In the news, Business Support, Business Development

AML how small businesses can protect themselves

AML HOW SMALL BUSINESSES CAN PROTECT THEMSELVES

Posted on: 13/05/2019

 

Anti-Money Laundering: how small businesses can protect themselves
Money laundering is the process by which money obtained by illegal means is concealed within seemingly legitimate business activities and made to look legal. It includes money used to fund terrorist activity and also applies to those assisting in the laundering process. Through a complex series of business transactions, the  money is eventually passed back to the original party with the intention that it won’t be...

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Categories: Business Support, Top Tips

Mental Health at Work

MENTAL HEALTH AT WORK

Posted on: 07/02/2019

 

Every business is only as strong as its staff, yet 1 in 6 workers is dealing with a mental health issue such as anxiety or stress, which can stop them from performing at their best. How can employers help their staff to feel supported and motivated, thus allowing the business to reach its peak potential?
 
It is vital that employers make their staff feel respected, involved and valued. Introducing schemes such as flexible working encourages a good work/life balance, while regular...

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Categories: Business Support, Business Development

SMALL BUSINESS TOP TIPS

SMALL BUSINESS TOP TIPS

Posted on: 07/02/2019

 

Most small businesses need to keep their costs as low as possible. A minimal budget means careful management of finances is key to success, and planning ahead can make the difference between survival and going under.
 
Here are ten top money saving tips for small businesses:
 
1 - Working to a budget doesn’t mean not spending any money. Rather, carefully select what purchases are essential and stick to these. For example, could you fit the office out with second-hand...

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Categories: About NED, Business Support, Business Development, Top Tips

Leukaemia UK

LEUKAEMIA UK

Posted on: 14/11/2018

 

Blood cancer is the 5th most common cancer but the 3rd biggest killer so Leukaemia UK is our chosen charity here at NED Solutions. In fact, one of our Directors is a Trustee for them. The charity has supported those affected by leukaemia, myeloma, lymphoma and other blood cancers for the last 40 years by funding research projects, facilities and equipment as well as offering vitally needed emotional support.
Leukaemia UK has recently undergone radical transformation and rebranding and is now...

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Categories: In the news, Business Support

Creating a Business Continuity Plan

CREATING A BUSINESS CONTINUITY PLAN

Posted on: 13/11/2018

 

When thinking about creating a business continuity plan it’s easy to become bogged down envisaging worst-case scenarios such as fire or terrorism. However, the key is to not think about the cause of the disruption to your business but rather to focus on the potential effect. 
When considering business continuity concentrate on finding a plan that fits your business’ specific requirements. There are several online...

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Categories: In the news, Business Support, Business Development, Top Tips

The Business Basics Fund

THE BUSINESS BASICS FUND

Posted on: 13/11/2018

 

The government has launched a new fund of £8m to support small business growth and to assist them in becoming more digital. 
The Business Basics Fund is run by the Department for Business, Energy and Industrial Strategy (BEIS) in partnership with Innovate UK which will assist businesses, charities, trade organisations and public-sector organisations support small business owners with their digital transformation.
Small Business Minister Andrew Griffiths advised in a speech...

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Categories: In the news, Business Support, Business Development

Non-Executive Directors in the SME Market

NON-EXECUTIVE DIRECTORS IN THE SME MARKET

Posted on: 13/11/2018

 

Non-executive directors (NEDs) play a vital role in the good governance of businesses. They have the same responsibilities and legal duties as their executive counterparts and their potential value to companies has become widely recognised. But any discussion of the role of NEDs inevitably focuses on large listed companies and it is often overlooked that smaller companies have just as much need for independent advice and expertise.

The Association of Chartered and Certified Accountants...

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Categories: Business Support, Business Development

Corporate governance reporting under the Companies Act

CORPORATE GOVERNANCE REPORTING UNDER THE COMPANIES ACT

Posted on: 23/07/2018

 

Corporate governance reporting under Section 172 of the Companies Act 2006
Section 172 is a part of the section of the Act which defines the duties of a company director, and concerns the “duty to promote the success of the company”.
There are several levels of stakeholders listed within the section whose interests are said to feature in the ‘success of the business’. These were named as shareholders, employees, suppliers and local communities. 
Awaiting...

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Categories: Business Support, Business Development

Employee Ownership

EMPLOYEE OWNERSHIP

Posted on: 23/07/2018

 

Employee-Owned Businesses 
In 2017 an independent panel of UK business leaders and industry experts came together to hear and examine evidence from 100+ employee-owned businesses and business advisers.
Its findings and recommendations were launched in the Ownership Dividend report on June 27 2018.
The most high-profile Employee Ownership (EOs) company is the John Lewis Partnership who supported the Ownership Effect Inquiry. 
The panel of the Ownership Effect Inquiry,...

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Categories: In the news, Business Support, Business Development

The Incomplete Leader

THE INCOMPLETE LEADER

Posted on: 23/07/2018

 

Executive Leadership

Do we still believe that an executive leader should be ‘superhuman’? 
Should they be at the top of their game in all skill sets to effectively run a business or organisation? 
Should they be able to solve the most demanding and impossible of problems? 
Should they have the vision and imagination to inspire and enthuse their employees and generate trust in them as a leader? 
No one person could achieve all this...

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Categories: Business Support, Business Development, Top Tips

Government to crack down on irresponsible company bosses

GOVERNMENT TO CRACK DOWN ON IRRESPONSIBLE COMPANY BOSSES

Posted on: 17/05/2018

 

The government has raised concerns that whilst most businesses are run responsibly, company directors could "unfairly shield themselves from the effects of insolvency and – in the worst cases – profit from business failures while workers and small suppliers lose out".
The reforms planned by the government are designed to reinforce trust in business after some recent high-profile failures, such as BHS and Carillion where thousands of jobs were lost.
"These reforms will give...

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Categories: In the news, Business Support, Business Development

Self Employed: to be or not to be?

SELF EMPLOYED: TO BE OR NOT TO BE?

Posted on: 17/05/2018

 

Thinking of starting up your own business and quitting the nine-to-five?
How do you know if you have the right skills and personality traits to make your own business successful? You’ll need more than just an idea and commitment. You’ll need to be dedicated and work long hours so a desire to be sociable may hold you back!
What are the pros and cons of being self-employed? Let’s start with the downside of being self-employed; as well as the obvious (longer hours and no...

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Categories: Business Support, Business Development, Top Tips

New protection against identity fraud for company directors

NEW PROTECTION AGAINST IDENTITY FRAUD FOR COMPANY DIRECTORS

Posted on: 17/05/2018

 

Companies House holds publicly available information which can include personal addresses of company directors.
Research by Cifas, a fraud prevention organisation, has shown that company directors are among the most targeted groups for identity theft, being twice as likely to be affected by this than any other group of individuals.
Research has shown that criminals are using the publicly available information to commit fraud and other crimes. There is also growing concern that this information...

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Categories: In the news, Business Support, Business Development, Top Tips

THE GENDER PAY GAP

THE GENDER PAY GAP

Posted on: 16/02/2018

 

Is your business ready for the new gender pay gap reporting? UK employers with over 250 employees are now required to report their gender pay gaps by April 2018.
Affected businesses are required to publish the following key areas:
• The difference in mean pay – to show the average hourly earnings of the employer’s female employees and the average hourly earnings of its male employees both taken as a solitary group.
• The difference in median pay - the...

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Categories: In the news, Business Support, Business Development, Top Tips

LASTING POWER OF ATTORNEY

LASTING POWER OF ATTORNEY

Posted on: 16/02/2018

 

If you are a business owner, director, partner or sole trader protecting the future of your business is fundamental to your role. So, what would happen if you were incapacitated by illness or injury? Who would take over the running of the business and its financial affairs, and what would it mean for your employees’ financial future?
A Lasting Power of Attorney can make the difference between a business continuing or collapsing if the owner loses capacity. Without one a colleague...

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Categories: In the news, Business Support, Business Development, Top Tips

VICARIOUS LIABILITY

VICARIOUS LIABILITY

Posted on: 16/02/2018

 

In English law vicarious liability is the law that imposes strict liability on employers for the wrongdoings of their employees, provided those acts are done during their employment.
In 2016 there was a case brought against the supermarket chain, Morrisons, where the Supreme Court deemed them liable for a physical assault carried out by one of their employees on a customer. It was decided that the employee had acted in his assigned role to serve customers. The assault was therefore...

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Categories: In the news, Business Support, Business Development

Business Life Cycle

BUSINESS LIFE CYCLE

Posted on: 18/10/2017

 

Whether you are a small start-up or a large corporation, every business has a life cycle. Within this, there are five key stages. Knowing where your business is within this cycle is crucial to planning and understanding what your next steps should be.
The five key stages are:
1: Seed and Development – this is the initial thought or idea of starting your own business. This is the time to assess just how viable your startup is likely to be. Talk to as many people as possible to gain...

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Categories: Business Support, Business Development, Top Tips

Flexible return to work after maternity leave

FLEXIBLE RETURN TO WORK AFTER MATERNITY LEAVE

Posted on: 18/10/2017

 

Returning to work full time after maternity leave can be a daunting prospect. It’s likely that employees will need to make their old job fit around new circumstances, which isn’t always possible with ever increasing child care costs.
Employees have the right to return to the same job on the same terms and conditions after maternity leave: however they also have the right to request flexible working, if they have worked for their employer for at least 26 weeks (including maternity...

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Categories: In the news, Business Support, Top Tips

FRC Corporate Governance Rules

FRC CORPORATE GOVERNANCE RULES

Posted on: 18/10/2017

 

The Financial Reporting Council is the UKs independent regulator responsible for regulation and standard setting in corporate governance, accounting, auditing and actuarial matters.
The Financial Reporting Council (FRC) has welcomed the government’s response to its green paper on corporate governance reform. Theresa May pledged to have both consumers and workers represented in the boardroom and she announced a green paper on corporate governance shortly after becoming prime minister.
The...

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Categories: In the news, Business Support, Business Development, Top Tips

What’s in a job title?

WHAT’S IN A JOB TITLE?

Posted on: 12/07/2017

 

A job title is the name given to the person who does a particular job, but what if they have other transferable skills which do not fall under that job title but another? How does a company utilise its employees' skills without compartmentalising individuals and their talents?
It seems that job titles are becoming counterproductive; in organisations full of bright people job titles can create a hierarchy where people become more focused on where they are on the ladder rather than being a valuable...

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Categories: Business Support, Business Development, Top Tips

Strategy for success

STRATEGY FOR SUCCESS

Posted on: 11/07/2017

 

The dictionary definition of the word strategy is ‘a plan of action designed to achieve a long-term or overall aim’.
A strategy is a way of describing how you are going to get things done. It is less specific than an action plan but instead, it tries to broadly answer the question, "How do we get from here to there?”
A key element in the process of strategic planning is the engagement of all levels of staff throughout the business. Staff ‘buy in’ generates...

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Categories: Business Support, Business Development, Top Tips

Planning for the future

PLANNING FOR THE FUTURE

Posted on: 11/07/2017

 

It is essential to be prepared for the inevitable especially if you are a business owner. Your will tells everyone what should happen to your money, possessions and property after you die (all these things together are called your ‘estate’). If you don’t leave a will, the law decides how your estate is passed on – and this might not be in line with your wishes.
Your estate plan, no matter how complex, can be implemented any time before you die, if you are still legally...

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Categories: Business Support, Business Development, Top Tips

Changes to Data Protection Legislation in 2018

CHANGES TO DATA PROTECTION LEGISLATION IN 2018

Posted on: 04/04/2017

 

On the 25th May 2018 a new law called the General Data Protection Regulation (GDPR) will come into effect. The GDPR has been created to update and improve upon data protection laws in the UK. Businesses currently adhering to the Data Protection Act (DPA) may be reassured to know that many of the same concepts and principles will apply when the new law is implemented. However, it is important to stress that for all businesses - no matter their size or industry - some changes for compliance will be...

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Categories: In the news, Business Support, Business Development, Top Tips

Finding the Right Non-Executive Director

FINDING THE RIGHT NON-EXECUTIVE DIRECTOR

Posted on: 04/04/2017

 

There are many benefits to hiring a non-executive director (NED) that might quickly spring to mind, such as their ability to bring expertise, fresh perspectives, diplomacy and direction to board meetings. The right NED appointment can strengthen profits and  working relationships and stoke a fire that grows businesses .
NED Soluions offers a fresh approach to completing your Board, an approach that we feel results in your business benefiting from the most appropriate individuals more...

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Categories: About NED, Business Support, Business Development, Top Tips

Apprenticeship Levy

APPRENTICESHIP LEVY

Posted on: 04/04/2017

 

This spring the government is reforming how it funds apprenticeships in England. The changes will result in adjustments to how apprenticeship training is organised and funded which will affect all employers, as well as some larger employers having to contribute to a new apprenticeship levy.
The apprenticeship levy will be introduced officially on 6th April 2017, with the principles of the new apprenticeship funding coming into effect from 1st May 2017. 
Much like other updates at...

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Categories: In the news, Business Support, Business Development, Top Tips

Living Up to the Living Wage

LIVING UP TO THE LIVING WAGE

Posted on: 15/11/2016

 

One of the defining moments in any new business is the moment when you take on your first employees. The company immediately takes on a new dimension as something that was once an idea set out in a business plan now becomes a living breathing organisation that is responsible for other people’s livelihoods. For this reason the taking on of new staff is always a serious matter for consideration, it is a moral consideration - can we offer a role that meets with good standards of employment - and...

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Categories: Business Support, Business Development, Top Tips

Commercial Mortgages

COMMERCIAL MORTGAGES

Posted on: 15/11/2016

 

Depending on your business model there may come a time when it makes financial sense to invest in a property rather than lease one. Unless your wish to buy a property is matched by a sizable cash-rich business (if so, lucky you!) it will be necessary to secure a commercial mortgage to bridge the gap between your saved deposit and the full cost of the property you desire.
Commercial mortgages may sound daunting, but don’t let their persona put you off. Investing in a business premises...

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Categories: Business Support, Business Development, Top Tips

HMRC hit by Bogus Scams

HMRC HIT BY BOGUS SCAMS

Posted on: 12/10/2016

 

At this time of year contact with HMRC is likely to increase, as the rush to meet the autumn deadline looms. It is perhaps not surprising then that there has been a recent uptake in HMRC-related bogus scams circulating the country. Phishing emails and calls have been reported and in response to this crime HMRC have issued guidelines on how to identify their real contact from the malevolent hoaxes.
The focus of their campaign is based on three scams, of which they have been made aware. The first...

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Categories: In the news, Business Support, Top Tips

Using the Expertise that Surrounds You

USING THE EXPERTISE THAT SURROUNDS YOU

Posted on: 12/10/2016

 

There is never a point in business where everything will now run smoothly. By its very nature a business changes day by day. Staff leave, the cost of outgoings fluctuate with energy bills, local business rates, rents, inventory costs, etc. Therefore, there is never a point to be reached where there is not more to be learned, planned, adjusted for and considered as a company director.
A company is only as good as the team that make it and sometimes being at the top can seem like a lonely and...

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Categories: Business Support, Business Development, Top Tips

Scale Up - Growing Business

SCALE UP - GROWING BUSINESS

Posted on: 10/10/2016

 

Starting a business takes courage, planning, dedication, vision and hard work, but what does it take to grow a business? More of the same, of course, but also added levels of competency in new areas. The managing of staff, payroll, health and safety, practical premises, delegation and risk analysis to name a few. 
In 2014 the government published the Scale Up Report that investigated the challenges faced by business moving from startups to established SMEs. What were the obstacles to growth...

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Categories: Business Support, Business Development, Top Tips

IOD Up-skills for Directors

IOD UP-SKILLS FOR DIRECTORS

Posted on: 10/10/2016

 

The Institute of Directors has recently launched a Director Competency Framework. This new development aims to help its members, and more broadly all business leaders, to achieve success in their chosen fields. 
The project was set in motion to encourage ‘exceptional leadership’ from directors. The emphasis of the guide is on ‘soft skills’, matching the more obvious and overt expectations of leaders - confidence, financial prudence, responsibility, forward thinking...

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Categories: Business Support, Business Development, Top Tips

IT Security

IT SECURITY

Posted on: 01/09/2016

 

Increasingly we work in a digital world and business data is everywhere, be it from cloud computing software, CRM systems, website data or social media. The way we organise our information and convey it to others more often than not involves a screen and online data.
It is perhaps not surprising then that there is an increased risk of cyber-attacks, lost data, and legal compliance issues in SME’s IT systems.
Recent research by CareersinAudit.com found that nearly half of the auditors...

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Categories: Business Support, Business Development, Top Tips

Holidays

HOLIDAYS

Posted on: 01/09/2016

 

You may have noticed over the last few weeks that offices across the country fell quiet, phones rang less and desks were abandoned as people headed off on holidays. A holiday from work can be beneficial not just for the employee - a change is as good as a rest - but also for the employer. Employees coming back from holiday are (generally) rested, positive and refreshed. They are less likely to take sick days - unless they picked something up on their travels - and they can have renewed enthusiasm...

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Categories: In the news, Business Support, Business Development, Top Tips

Build Diversity at the Top For Better Profits

BUILD DIVERSITY AT THE TOP FOR BETTER PROFITS

Posted on: 06/07/2016

 

Alan Joyce, the highly successful CEO of Qantas Airline has recently made the case that being open and genuine about yourself is better for business. Joyce (who is openly gay) argues that when senior staff appear as real people - diverse, human, unique - they create a culture of openness that embraces difference and helps foster a spirit of opportunity in the wider workplace.
Joyce, who turned around Qantas from a financial and PR disaster, explained to the BBC 
"I can say categorically...

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Categories: In the news, Business Support, Business Development, Top Tips

Why your family business needs a Non Executive Director

WHY YOUR FAMILY BUSINESS NEEDS A NON EXECUTIVE DIRECTOR

Posted on: 26/05/2016

 

Working together as a family business may sound idyllic, but the reality is fraught with challenges. An inability to separate business from personal can lead to conflict both in the office and at home. If personal egos and rivalries are allowed to spill over into the work place it can become impossible to agree on common goals and strategies. Family hierarchy can also cause some members of the family to take a back seat in the decision-making process.  Emotional ties can make it difficult to...

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Categories: About NED, Business Support, Top Tips

Swerving Errors in Candidate Selection

SWERVING ERRORS IN CANDIDATE SELECTION

Posted on: 19/04/2016

 

The workforce of a business is instrumental to its success, this maxim is nothing new. However, how to identify the right talent and evaluate candidates for a position is a dark art for which there is no one right answer. When looking for a ‘how to’ guide for interviewing potential candidates it is sometimes easier to extract advice about what not to do, rather than what to do. To this end, here are a few interview practices that (if possible) can be given a swerve...
Unless you...

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Categories: In the news, Business Support, Business Development, Top Tips

Spring Cleaning

SPRING CLEANING

Posted on: 13/04/2016

 

In a recent article in the Times, Mark Atherton recommends that individuals ‘spring clean’their financial lives. Whilst his advice is aimed at people’s independent financial choices, his advised approach can be extended into business strategy with positive effects. In a busy business environment, time to address and clean up fine details can be hard to find. Coordinating diaries to get decision makers around the table, balancing budgets, striving to get the next project off the...

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Categories: In the news, Business Support, Business Development

The Ovaltine Index

THE OVALTINE INDEX

Posted on: 06/04/2016

 

The Financial Times has created an index to track the shape of British Industry from the 1930s to present day. Nicknamed ‘The Ovaltine Index’ the grouping represents British industry that has survived and oftentimes flourished across the past 80 years. The inspiration for the Ovaltine Index refers back to when the London stock market was viewed through the prism of the FT30, an index of 30 British companies compiled in 1935, which later grew into the larger FTSE 100 that we know today. 
Apart...

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Categories: In the news, Business Support, Business Development

Big Ideas Need Failure

BIG IDEAS NEED FAILURE

Posted on: 22/03/2016

 

Research and development is an important element to any business, whether as a means to define your first product, or as a route to develop growth. However, investing in ideas is a risky business, where real value is handed over in the hope of gaining hypothetical returns. Fear of allocating resources to the unknown can lead businesses to feel a pressure to play it safe, producing mediocre ideas, or minimal innovations to ensure likely but limited outcomes. In this environment, fear of failure can...

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Categories: In the news, Business Support, Business Development, Top Tips

NED's Support Helps In The Fight Against Cancer

NED'S SUPPORT HELPS IN THE FIGHT AGAINST CANCER

Posted on: 01/03/2016

 

This year saw the opening of a new haematology ward at Kings College Hospital which will help in the fight against leukaemia and other related disorders. The ward has been named after the charity ELF Elimination of Leukaemia Fund (ELF) as well as the Lions international blood research appeal (LIBRA) in recognition for over three decades of support and funding they have provided. 
Chatham based NED Solutions director Jonathan Neal has been a key supporter of ELF and is in his second...

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Categories: About NED, In the news, Business Support

The key principles to creating the Strategic Report

THE KEY PRINCIPLES TO CREATING THE STRATEGIC REPORT

Posted on: 26/02/2016

 

Every large organisation needs a robust reporting structure in place to communicate performance and ongoing strategy with its shareholders and respective stakeholders. Here, we distill and examine the information laid out in the Financial Reporting Council’s [FRC] Guidance on the Strategic Report publication; although formally aimed at large organisations these principles are equally applicable to SMEs.
The FRC states that the purpose of the strategic report is to provide a company’s...

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Categories: In the news, Business Support, Business Development

Dividend Taxation - The impact on small businesses

DIVIDEND TAXATION - THE IMPACT ON SMALL BUSINESSES

Posted on: 29/01/2016

 

Last year, George Osborne announced the dividend tax credit would be replaced with a tax-free dividend allowance of £5,000, with higher taxes on income above that. The change – coming into force on 1 April – has dramatic impacts for small business owners and entrepreneurs.
 
 Dividend taxation: The facts
 
In his Summer Budget speech last year, Osborne stated that those who either pay themselves in dividends or have large shareholdings worth...

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Categories: In the news, Business Support, Business Development, Top Tips

Pension liberation - government responsible for £2bn loss?

PENSION LIBERATION - GOVERNMENT RESPONSIBLE FOR £2BN LOSS?

Posted on: 27/01/2016

 

Pension liberation. It’s a term that suggests that individuals can access their pension funds before the age of 55 without permission from HM Revenue and Customs (HMRC).
Fundamentally, pensions can only be legally accessed from the age of 55, apart from in special circumstances, and most opportunities to do so earlier represent scams. Firms offering pension liberation services often convince individuals of a legal loophole that allows them to access the money, but the High Court...

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Categories: In the news, Business Support, Business Development, Top Tips

Automatic enrolment - what has been achieved so far?

AUTOMATIC ENROLMENT - WHAT HAS BEEN ACHIEVED SO FAR?

Posted on: 23/12/2015

 

Millions of people in the UK have not been saving enough for retirement: Currently, 50% to 55% of the working population do not contribute to a pension. This has been the argument at the heart of the UK’s pension reforms, which were set out back in 2012.
The reforms require employers to automatically enrol eligible workers into a qualifying workplace pension scheme and make a minimum contribution. The automatic enrolment duties began in October 2012 and will conclude in February 2018,...

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Categories: In the news, Business Support, Business Development, Top Tips

The role of risk in business growth Amazon’s path to success

THE ROLE OF RISK IN BUSINESS GROWTH AMAZON’S PATH TO SUCCESS

Posted on: 10/12/2015

 

Success in business depends on the ability to identify potential ways to evolve and the nerve to take calculated risks.
Amazon demonstrated these two qualities earlier this month [13 November] with the introduction of its online grocery delivery service - Pantry - here in the UK.
Pantry has more than 4,000 items available to order and allows customers to order up to 44 pounds (20 kilos) of pantry items that don't require refrigeration for a flat delivery fee of £2.99....

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Categories: In the news, Business Support, Business Development, Top Tips

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