Online ad spend soars
The average UK household now owns 7.4 devices that connect to the internet according to the latest Internet Advertising Bureau UK Digital Adspend report, conducted by PwC. And the research shows that advertisers spent a record £7.2 billion on digital advertising in 2014. Smartphones are the most common internet-enabled device, followed by laptops and tablets. The survey found that 40% of households now own one tablet, 19% have two, while 11% own three or more. According to the data, tablet-dedicated ad spend alone grew 118% to reach £87.4 million.
SME investors to benefit from new tax relief
Investors backing start-ups and SMEs through the Government’s EIS and SEIS initiatives are set to benefit from £525 million in tax relief this year. That’s 25% more than last year’s £420m of relief, according to Radius Equity. Gary Robins, director at Radius Equity, said: “The fact that official tax relief estimates for EIS and SEIS investments is soaring is a clear reflection of the increasing appetite among investors for these sorts of high growth, tax efficient opportunities. It suggests they are piling more capital in greater numbers into the SME arena, drawn by the potential for impressive returns but also by the tax benefits too.”
Asset based funding to break £20bn barrier
The amount of invoice finance and other asset based finance provided to UK and Irish businesses is forecast to pass the £20 billion level in 2015, according to the Asset Based Finance Association (ABFA). Its annual Confidence Survey suggests that 80% of this funding is expected to be provided through invoice finance, where businesses secure funding against the value of their unpaid invoices. The other 20% is expected to be delivered through wider asset based lending packages, where businesses secure funding against assets such as stock, machinery or property, as well as against debt.
New shared parental leave obligations
Businesses could be in “legal hot water” if they don’t meet new legal obligations regarding Shared Parental Leave, the law firm Royds is warning. Gemma Ospedale, a partner in Royds’ employment team, said: “Businesses need to be aware of their new legal responsibilities. Failure to allow either parent the time off they are permitted under law could land them in legal hot water. Preparing now by establishing robust procedures for parental leave is the best way to ensure that you remain on the right side of the law.” According to the Department for Business, Innovation and Skills (BIS), around 258,000 working couples will be eligible to share their leave from this month.