Entrepreneurial graduates prefer to be their own boss
Undergraduates currently run over 52,000 active companies and 15% of graduates want to set up their own business after university, according to new research from Direct Line for Business. Of those graduates planning to start their own enterprise, 45% are driven by the desire to be their own boss while 27% believe they will earn more money than they could by working for someone else.
Counting the cost of "free" calls
From this month, calls from mobiles to Freephone numbers (0800 and 0808) will be free. The move from Ofcom is good news for consumers but it will have a financial impact on any UK business that uses Freephone numbers for inbound calls. Justin Hamilton-Martin, ceo of Ultracomms, said: "Businesses will almost certainly see the number of Freephone calls (for which they pay, not the consumer) increase. There is an upside to this of course - such as consumers reacting more spontaneously to promotions that they see while out and about."
Record numbers of SMEs raising finance through EIS
The number of SMEs seeking to raise funds through the Enterprise Investment Scheme (EIS) reached a record high in 2014/15. According to Radius Equity, the number of SMEs applying to EIS has doubled over five years. The EIS offers investors tax breaks to encourage private investment in unquoted companies. Gary Robins, director at Radius Equity, said: "The EIS is one of the few schemes designed to increase funding to SMEs that has been a wholesale success. It is now an important component in the funding of growth companies."
Digital skills tour takes to the road
Facebook and Enterprise Nation have teamed up to deliver a nationwide series of free Boost Your Business events to help small British businesses grow. The focus is on delivering digital skills and social media techniques. The Summer Tour includes dates in Cardiff, Birmingham and Manchester. To find out more and book your place, go to www.boostyourbusinessuk.com.
Micro-business owners suffer "accounting anxiety"
New research by YouGov on behalf of FreeAgent has found that over a third of micro-business owners feel overwhelmed by their business accounting. Specifically, 33% of those responsible for completing tax returns are anxious about that task; and 8% said they feel "very anxious" about completing their self-assessment, VAT and corporation tax returns. One fifth of owners admitted that they manage their financial accounts using pen and paper; while 13% said they had missed tax return deadlines.