Your Development Manager: or call

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1 Somerset & Wiltshire Your Development Manager: or call November/December 2016 HINKLEY POINT MEANS JOBS AND INVESTMENT IN SOUTH WEST The largest engineering project in Europe, the construction of the new power station at Hinkley Point C in Somerset, is a once in a lifetime opportunity to boost the jobs and economic prosperity and generate thousands of training opportunities for local people throughout the whole of the South West. Matt Burley, Chair of the Nuclear SW (NSW) Partnership, said: Hinkley Point C is a fantastic opportunity that places the South West at the forefront of UK civil nuclear new build. It will allow South West businesses to build knowledge and access the global nuclear industry. It will allow local schools, colleges and universities to get up close to the very latest science and engineering disciplines and it will allow our families to benefit from the long-term Regional economic benefits. This is fantastic for the nuclear industry, for the UK, for France, for EDF, for our Chinese Investment Partners, and for the South West. Dr Brian J McConnell, Managing Director of Hydrock, said: The Government has placed a clear emphasis 100 TONNE DUMPERS WORKING ON HINKLEY POINT C SITE on an industrial strategy and Hinkley Point C is the first part of a new nuclear programme. It has been a long time coming but finally it has been given the go-ahead and it s up to companies in the South West and beyond to seize the opportunity. Steve Hindley, Chair of the Heart of the South West (HotSW) LEP, where Hinkley is sited, said: Hinkley Point C will transform our economy, creating 25,000 new jobs and generating 18bn investment. It is the cornerstone of our NSW partnership in which we re promoting the South West as the UK s leading area for the nuclear sector with international profile. DOING BUSINESS ON A BARGE SWINDON NETWORKING Kennet FSB members were joined by business people from across Wiltshire for some informal networking on the Kennet and Avon Canal. The canal was built by, and for, local businesses and was vital to commerce across the South West for many years so it seemed the perfect place for businesses to meet. The event was well attended and the relaxed approach to networking was enjoyed by all, the fish and chip delivery dropped on board from a bridge was a particular highlight. Kennet Branch intends to hold similar events with a social aspect throughout Please contact Iain Wallis, the Branch Secretary, at iain@ wallismarquees.co.uk if you have any suggestions for future venues or activities. Events are listed on the Regional events page The FSB Networking Breakfast event begins in Swindon on Wednesday 19 October and will be held on the third Wednesday of each month thereafter. There will be facilitated networking and speakers to give valuable insights and guidance on a range of business topics. You will get to meet business owners operating in and around Swindon, find people to do business with, find referral partners and share knowledge and problems with like-minded people. Open to members and non-members, the event will be held at Bottelino s in Swindon. A member of FSB, Luke Jacobs is welcoming the opportunity to host this event. Dates will be published on somerset-wiltshire and through the Bytesize E-newsletter. REGIONAL NEWS 2, 11, 14 BUSINESS UPDATE 3-10 REGIONAL CONTACTS 14 TO ADVERTISE CALL

2 Somerset & Wiltshire MEETING WITH SENIOR HMRC AND TAX OFFICIALS We recently hosted a round table meeting with HMRC and the Office of Tax Simplification (OTS) at Salisbury s Fisherton Mill, Worldpay s Family Business of the Year. The meeting brought together taxation experts from the Region with the UK s most senior civil servants responsible for simplifying tax and making tax submissions digital. Our experts were able to give their views on plans for tax simplification and digitalisation. FSB members are deeply concerned with the potential move to enforce compulsory online quarterly reporting of their tax submissions. Members already spend on average 3,600 completing their tax returns, with many still completing theirs manually. The teams from HMRC and OTS left with the following messages: The small business community does need tax simplification. However, the UK s self-employed will struggle with the change to quarterly reporting. We welcome consultation and ask for a clear statement of benefits to the business community and a package of support to help offset this new burden on business. Our members are concerned that seasonal businesses in particular will suffer cash flow issues if quarterly reporting is implemented. We need consistency and one set of universal small business definitions used by all agencies Agents need to be able to reallocate all types of payments where customers make errors. Our members believe that small businesses need more time to recover from auto-enrolment before having to pay to have their accounts done quarterly instead of annually. Finally, the push towards digital must be introduced alongside tax simplification with businesses able to choose the best tax reporting process appropriate for them. EDITORIAL: This publication is produced by and published for the Federation of Small Businesses, Sir Frank Whittle Way, Blackpool Business Park Blackpool, Lancs, FY4 2FE. Copyright 1996 Federation of Small Businesses all rights reserved. Editor: James Connor. Tel: james.connor@fsb.org.uk. Whilst every care has been taken in the compilation of this publication errors or omissions are not the responsibility of the Federation of Small Businesses and opinions expressed are those of the authors and are not necessarily the policy of the Federation. PAGE 2 SMALL BUSINESS SATURDAY PLANS Small businesses throughout Somerset and Wiltshire look set for another pre-christmas boost thanks to Small Business Saturday which has become established as the biggest day of the year for supporting FSB BACKS MTM AWARDS FSB is delighted this year to be supporting and sponsoring the biggest business awards scheme aimed at Asian, black and ethnic minorities businesses in the South West. The MTM Awards, named after the magazine that created them, have become recognised as the leading platform in the South West to celebrate the excellence of ethnic minority companies and indeed the businesses that supply them. The awards culminate in a glittering gala evening in Bristol in December where it is hoped around 500 people, including a number of VIP guests, will be in attendance. FSB have agreed to sponsor the Entrepreneur of the Year Award and our sponsorship is shared between our FSB Bristol Branch and FSB nationally as a sign of our joint commitment to supporting members (and potential members) within ethnic communities. Ken Simpson, the Bristol-based for FSB Gloucestershire and West of England, said it was important every area of the South West business community was celebrated. He added: We are very excited to be supporting these awards because they will recognise some fantastic businesses When you are seeking online legal information FSB can prove a valuable source for factsheets and precedent documents. Our one-stop-shop has over 200 factsheets and in excess of 500 legal documents to choose from, the UK s small business community. It is estimated more than 623m was spent with SMEs on the day last year an increase of nearly a quarter on 2014 and hopes are high this figure will be smashed again this year. We will covering all the key legal, personnel, tax and health and safety issues that you might encounter when setting up and running your business. You can download all of our precedent documents in an editable format. be celebrating Small Business Saturday with an event on 3 December at STEAM Museum in Swindon. See our weekly newsletter Bytesize and our Twitter FSBSomAndWilts for up-todate information. AWARDS NIGHT 2015 MTM AWARDS. FSB IS BACKING 2016 FINALS throughout the South West and will show the rich mixture of cultures and diversity within our business community that help to grow and strengthen our local economy. Junior Sheikh, the MTM Awards Event Co-ordinator, said: MTM Awards are proud to have FSB as an official partner for the MTM South West Asian & Ethnic Minorities Awards This is a unique award ceremony that will put FSB members in front of potential customers and key influencers in business and the community. Nominations for this year s awards are now closed. However, to find out more details about the awards or apply for gala night tickets on Sunday, December 18, themtmawards@gmail.com, call or visit LEGAL DOCUMENTS AVAILABLE ONLINE The information available includes contracts, agreements, individual clauses, policies, checklists, letters, notices and forms. Our factsheets and precedent documents are fully managed and updated throughout the year.

3 Somerset & Wiltshire BREXIT, ENSURING YOUR IS BEING HEARD At the time of writing, this issue of Voice marks 100 days since the UK voted to leave the European Union (EU). Our position to remain neutral throughout the Referendum campaign has placed us in an ideal position as our Westminster team has sought to be a constructive partner for the Government in its forthcoming negotiations. We have and are engaging with Government to make sure the small business voice is heard as the UK moves to exit the EU. In addition, we have been seeking views from members on all affected areas. Great uncertainty remains around future access to the European market. This is not surprising as one-third of our members import or export and the vast majority of them trade with European countries. FSB s main priority is to keep the European market easily accessible for small firms at the lowest cost for business. To this end we have set out our four key areas: 1) Access to European single market, and non-eu markets 2) Access to labour, skills and the ability to do business anywhere in the EU 3) Current EU funded projects and future SME support 4) Clarity on the future regulatory framework It is critical that we consider all views and opinions to accurately reflect the views of members. Therefore, the views and experiences of members are being actively sought in all four areas. We have held roundtables and will be conducting specific surveys into these subjects. In order to respond to these surveys make sure you are signed up to our Big Voice survey panel fsb.org.uk/benefits/big-voice as it is crucial that your voice is heard. In addition, we are keen to hear your own views and case studies, about how the decision may, has and will affect your business. If you are willing to share your case study then the North Yorkshire Development Manager emma.smailes@ fsb.org.uk. FSB will rally its resources to distil our understanding of the areas above and help shape Government priorities as they start their negotiations BUSINESS RATES REVALUATION Next year will also see a revaluation of business rates. We expect businesses to be able to find out their new rateable value from September 2016 and of their new bills from January How will you be affected by the revaluation? Revaluations are difficult to predict because what matters is whether your rateable value has gone up or down relative to the national average. At the Budget in March this year, the former Chancellor, George Osborne, listened to our calls for action and announced a series of significant reforms to the business rates system. From April 2017 businesses occupying a single property with a rateable value of less than 12,000 will now pay no rates at all. Businesses occupying a single property with a rateable value between 12,000 and 15,000 will be given tapered relief. Businesses occupying properties with a rateable value of between 15,000 and 51,000 will be eligible for the small business multiplier for each such property. Only businesses with a rateable value of over 51,000 will now pay the higher rate. FSB REPORT FINDS THAT BUSINESSES NEED BOTH ONLINE AND FACE TO FACE BANKING The prospect of technology enabling ever greater choice and competition over how one interacts with their bank is bringing benefits for both small businesses and the UK economy. Whilst these benefits should be further encouraged, traditional methods of banking - primarily associated with interactions at a physical branch - often provide unique value to customers. Our evidence shows that small businesses are continuing to rely on branches for services where face-toface interaction is not easily replicated by alternatives such as online banking. Branch closures can impact small businesses and cause difficulties hindering growth. FSB has strong evidence to suggest that many small businesses across the UK are using digital services - including with banking - to build their business. This is not universal and a number of barriers prevent other small businesses from being able to harness the benefits of being digitally connected. FSB believes that increasing the use of digital technology by small businesses will both drive economic growth and productivity. The challenges branch closures present can only be addressed if small businesses are better understood and supported. Branches should not be perceived as a hindrance towards technological development or behavioural change amongst customers. Many banks, in partnership with technology firms, are innovating their branch infrastructure to develop their digital offerings and meet customer needs. It is vital that policymakers do more to understand what it is that small businesses value when they bank and how this value can be maintained as technology continues to affect change across the industry. PAGE 11

4 Make the most of your membership Call or visit fsb.org.uk/benefits ENDLESS POSSIBILITIES WHAT COULD YOUR FSB MEMBERSHIP DO FOR YOU? We re always looking at ways to help your business fly and constantly review the benefits of membership, to ensure they deliver what you want. Over the last 12 months, a lot has changed and we don t want to you miss out. We ve introduced new member benefits including; Vehicle leasing and purchasing services, a business and domestic energy broker and have replaced our workplace pension provider, making the product even more competitive. Are you making the most of your membership? We could have done with FSB earlier in the company s history, we would have been able to expand at an earlier date. When we were looking at employing our first apprentice last year, it was FSB employment documents that helped cut through the red tape and navigate us through a minefield of paperwork. Having somebody like FSB behind you is fantastic. There is a whole team behind the organisations, whatever is required: support, advice, finance, you know that you re not alone, you ve got FSB. Mark Woodward, Member for seven years and CEO of the Printed Cup Company. Liz McNaughton, Member for seven years and Director of Ecce Media. Mubarak Chati, Member for five years and Managing Director of 1 Events Media.

5 REFRESH WE WANT TO HEAR YOUR VIEWS ON PROPOSED CHANGES! Be part of a national consultation on the future of FSB s region and branch structure. We are funded by members, for members - and so members set our strategy and participate fully in our work at every stage. Every member is invited to take part, so please tell us what you think by: 5 December 2016 by filling in our survey at: We are able to provide a paper version of the survey on request. Completed surveys will be entered into a draw to win 1 year s free FSB membership* Get involved, let your voice be heard. REFRESHING OUR ROOTS! For further details go to or Call *Terms apply, see fsb.org.uk/refreshterms for details

6 Somerset & Wiltshire ARMY RESERVES BRING UNIQUE SKILLS TO BUSINESSES Reserves Day in September was an opportunity to recognise and celebrate the outstanding contribution made by all those who balance their own careers with military service. They give up their spare time away from family and friends. Many reservists are also highly valued employees of small businesses or indeed small business owners themselves. Earlier this year, FSB published research showing small businesses are increasingly positive about hiring members of the Armed Forces but there is still a preference among smaller firms for hiring service leavers over reservists. Three in five businesses felt they would struggle to cope if a reservist was called up for duty. However, two out of three small firms agreed that the skills and knowledge reservists gain during their time in the Armed Forces are valuable to a business. Reservists often bring unique skills and qualities to the workplace, especially around leadership and management. The skills they develop during training are diverse and often invaluable. It would be fantastic to see more businesses supporting our troops and it is important to know there is support available for those who do so. REGIONAL CONTACTS WHAT FACEBOOK S TEN YEAR PLAN TELLS US This Autumn marked the tenth anniversary of Facebook s newsfeed. Whilst on the surface this may not appear that significant, in fact to a greater or lesser extent, we are all now governed by newsfeeds and the algorithms that power them. However, where is the company now heading and what does this mean for business? Connectivity: We re now in a connected world, 2G, 3G, 4G, wifi, Internet of Things, smartphones, tablets. You can t get away from being online whether you re at home, on the train or up a mountain. The challenge for Governments is to provide the infrastructure to support this technology. Access to reliable, high speed internet is important. Meanwhile the challenge for businesses is to transform themselves into flexible, digital, mobile enterprises which can meet the needs of today s always connected customer. Artificial intelligence: Facebook has invested heavily in their Messenger app. Not only is this a person to person communications tool, but it will soon be a person to brand and e-commerce We have an ever-growing programme of monthly networking opportunities to enable you to expand your professional network across Somerset and Wiltshire. As an FSB member, you are welcome to attend any FSB event. Salisbury: second Monday of the month tool. Already, there are several brands employing messenger bots to engage with their customers. Virtual/augmented reality: Facebook invested in the virtual reality headset, Oculus Rift which allows users to step into a virtual dimension. These offer a host of opportunities and challenges for businesses particularly in the retail, leisure, real estate and sports sectors. The future: All of this means that all organisations need to take much more of a long term view about their business. Who will their customers be in five or ten years, how will they want to communicate, where will the opportunities be and what products or services will be in demand? SOMERSET AND WILTSHIRE NETWORKING BRANCH CONTACTS Mendip Golf Club: third Thursday of the month Swindon: third Wednesday of the month Taunton (and area): dates published via Bytesize and regions/somerset-wiltshire Patricia Marks Vice (1) John Mayer Vice (2) Mary Webb Regional Secretary Alexander Blackie Treasurer Adrian Chase National Councillor Patricia Marks Kennet Branch Jan de Jonge North & West Wiltshire Branch Adrian Chase Salisbury Branch Mary Webb Swindon Branch Jane Maskell Taunton Branch Alexander Blackie Weston-super-Mare Branch John Mayer Yeovil & Mendip Branch Michael Rutter DEVELOPMENT MANAGER Nicola Bailey PAGE 14