Business Heroes

Proposed EU pension regulations could add significantly to business costs at a time when pension deficits are already holding back company performance, research finds.

According to the Confederation of British Industry (CBI)/Towers Watson Pensions Survey, more than two thirds (69 per cent) of business leaders are concerned about the prospect of the EU enforcing high deficit payments over a shorter period of time, under rules being planned in Brussels to cover Defined Benefit (DB) schemes.

DB pension schemes are based on how much a participant earns and how long they are an employed member of the pension scheme.

The cost of running a DB scheme remains a big concern to businesses. Close to three quarters (71 per cent) are worried about the level of funding, and firms fear that things will get worse, with more than four fifths (85 per cent) of businesses concerned that market fluctuations could further harm funding levels.

To read the full article, visit the Small Business website.

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One of the stormiest periods the UK has seen for several years is set to continue this week with heavy rain, strong winds and snow for parts of the country.

The end of the week in particular could see some very stormy conditions across England and Wales, and the Met Office is keeping a close eye on this developing situation.

An Atlantic storm passing over the UK later today (Monday) will bring wet and windy weather to the whole country, with some particularly heavy rain for parts of Wales and South West England.

Up to 60mm is possible in places, accompanied by gale force winds in the south, where exposed areas could see gusts of up to 70mph.

There is the risk that any part of the UK could see some snow during Tuesday, with the snow likely to settle in on higher ground in parts of central and northern Britain.

Wednesday looks bright and breezy for most places, but early indications are that there is a potential for another storm system to affect parts of England and Wales later on Thursday and into Friday.

To read the full article, visit the Fresh Business Thinking website.

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Relationships could be at stake this year if people fail to send physical Christmas cards to friends and family, new research reveals.

The study by Royal Mail found that 16 per cent of people have retaliated after not receiving a Christmas card by removing friends and family from their own festive greetings list. People in East Anglia (20 per cent) are most likely to remove people from their Christmas card list while the Scots (13 per cent) are more tolerant.

The study also revealed that:

• 18-34 year olds and people in Northern Ireland are more likely to cancel a Christmas visit in retaliation for not receiving a Christmas card
• 11 per cent of 18-24 year olds have spent less on gifts for people who did not send them a Christmas card
• 18-44 year olds are most likely to have ended a relationship with someone who has failed to send a Christmas card

Such is the impact of the physical Christmas card that 84 per cent of people expect to receive them from family. Nearly three quarters of people (73 per cent) expect to receive a Christmas card from close friends.

“This research shows that sending a physical Christmas card is a great way of reminding friends and family how important they are to you,” Royal Mail’s Stephen Agar said.

To read the full article, visit the Fresh Business Thinking website.

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The Mayor of London, Boris Johnson, has today announced his support for Entrepreneur First, the scheme created to help talented UK graduates successfully start their own high growth start-ups. With just under a month to go before the deadline for applications, Entrepreneur First has seen strong interest from university students and graduates across the UK, with applications received from students of 49 different universities, including each of the UK’s top 10 ranked universities.

Speaking about the initiative, the Mayor of London Boris Johnson, commented: “Entrepreneur First typifies the spirit of enterprise and innovation that is building in and around the East London Tech City initiative. With so many promising start-ups and great ideas emerging from the Old Street area, it is the perfect focal point for ambitious young entrepreneurs from across the country. I look forward to hearing more about the businesses and ideas that will be coming out of the Entrepreneur First scheme in the months and years to come.”

Matt Clifford, CEO of Entrepreneur First, commented: “With three weeks still to go, we are delighted by the levels of interest we have seen. We’re particularly pleased that applications have been coming in from a wide spread of universities across the UK. History shows us that the best ideas and businesses don’t just come from the traditional ‘red brick’ universities so it’s great to see that students from across the country believe that entrepreneurialism is the right career path for them.”

With applications still coming in, Cambridge leads the way as the university most excited by the programme, with around 10 percent of applications coming from Cambridge University students. Warwick University, University College London and the London School of Economics are also showing strong interest, with each providing around seven percent of the applications received to date. Entrepreneur First has also received applications from students in Oxford, Nottingham, Manchester, Reading, Portsmouth, Loughborough, Cardiff, Bath, Leeds and Kings College London among others.

“Of course, there is still time before the deadline, so anyone who wants to launch a high-growth start-up when they graduate should definitely apply,” added Clifford. “In particular, we would love to see some more applicants from students in Wales and Scotland, as so far just five percent of our applications have come from Welsh and Scottish universities.”

The application deadline is 31^st December, after which the best applicants will be selected to take part in Entrepreneur First. Once enrolled on the programme, the UK’s most talented and ambitious aspiring entrepreneurs will receive mentoring from top entrepreneurs, start-up training, opportunities to attend networking events and access to funding.

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Overall shop price inflation fell to 2.0% in November from 2.1% in October. Food inflation fell to 4.0% in November from 4.2% in October. Non-food inflation was unchanged at 0.8% in November.

“At a time when petrol prices and utility bills are sky-high, fierce competition in the retail sector is helping hard-pressed families manage their budgets. Shop price inflation is now at its lowest for a year despite retailers having to cope with rising costs from suppliers and surging energy and distribution bills,” Stephen Robertson, British Retail Consortium Director General, said.

“For a second consecutive month the supermarket price war has helped reduce food inflation. As our recent research showed, a typical basket of goods purchased in the UK is around 5 per cent cheaper than the European average. Technology is making it easier than ever to compare prices. Accessing the internet on smartphones while out shopping is helping to make prices even more transparent.

To read the full article, visit the Fresh Business Thinking website.

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