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I’m a small business... ...get me out of here.

I’m a small business... ...get me out of here. Sandi Rhys Jones 26 February 2004. How small is small?. a micro business employs up to 9 people a small business employs up to 50 people a medium business employs up to 250 people

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I’m a small business... ...get me out of here.

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  1. I’m a small business......get me out of here. • Sandi Rhys Jones • 26 February 2004

  2. How small is small? • a micro business employs up to 9 people • a small business employs up to 50 people • a medium business employs up to 250 people • … and of the 200,000 construction companies in the UK, 90% of them employ fewer than 6 people • European Union

  3. The cost of red tape • “Owner/managers of SMEs spend an average of 10 hours a week complying, at an estimated cost to the economy of £17 billion.” • The Forum for Private Business2002 Survey

  4. Noel Ford Evening Standard 1985

  5. Counting the cost • employing 10-14 people takes 31 hours a month complying with regulations and paperwork • average cost of compliance is £2000 - £4000 pa, or between 4% and 6% of turnover • tendering for public sector work is too complex • A Government Action Plan for Small Business • Small Business Service

  6. Small business bedrock • 3.8 million small businesses • employ 12.6 million people • represent 99% of UK firms • generate 52% of private sector turnover • … and nearly 50% cite regulation as a key obstacle to business success

  7. Reality test • many businesses don’t know what is required to comply and when seeking support from government, often find they are not eligible. • services and organisations are fragmented, confusing and hard to find • too often the process is too complicated, takes too long and is not relevant to businesses • DTI

  8. Mel Calman The Times 1980

  9. Where are the women? • Women in the UK represent • 45% of the workforce • 27% of the self employed • 15% of business owners • …lower than in the Canada, USA, Australia and most of the Far East and South America

  10. Barriers • accessible/affordable childcare • inappropriate/inaccessible business support • transition from benefits to self employment • access to finance • DTI

  11. Clive Collins, Daily Mirror

  12. Government initiatives • ‘see at a glance’ guidance on new regulations • consider incentives for alternatives to regulation • standardise and co-ordinate change • improve procurement opportunities for SMEs • increase turnover audit threshold from £1m to £5.6m, potentially exempting 69,000 firms • DTI

  13. Don’t get mad, get active! • “The paperwork associated with a first employee costs £5, whereas big business actually makes money out of payroll tax deductions.” • Vision for the futureACCA Small Business Committee

  14. Network for help • Forum of Private Business www.fpb.co.uk • Small Business Service www.cabinet-office.gov.uk • Federation of Small Businesses www.fsb.org.uk • Association of Chartered Certified Accounts www.acca.co.uk/smallbusiness • Institute of Directors www.iod.com

  15. Play to your strengths • make the most of your size and independence • insist on the right advisor, not the usual advisor • think creatively to build a happy workforce • challenge convention

  16. www.rhysjones.com/smallbusiness.ppt

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