Almost a quarter of small business owners have turned their back on growth opportunities because of the added strain of legislation. In particular the implications of taking on employees has hampered growth in many cases.
A survey conducted by Nottingham University has shown that the growing swathe of new legislation around employment, maternity rights and health & Safety together with the introduction of the minimum wage have instilled fear in small business owners and a reluctance to take on the added burden along with the increased risk of tribunal if they get it wrong.
In addition the VAT threshold poses a further disincentive to growth for micro-businesses as they anticipate increases in the rate.
When a small business grows to the point where a quantum leap is required the costs can be huge and there is no guarantee that these costs will be recouped in time - if at all. The Business Forum is running a scheme (with funding from the LSC) to help small businesses cope with the added burden of employing people. It provides a remote HR consultant to advise businesses on setting up good systems within the law as well as sorting out all the day-to-day details in dealing with the legislation. In addition the package includes indemnity insurance and legal representation should a dispute occur.
For further information on the scheme contact Soozie Campbell on 01273 380040 or at email@example.com.
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