In today’s news round-up, we take a look at how the digital presence of the UK’s SMEs could be significantly affecting their sales this Christmas. There are also concerns over the small business reaction to the new auto-enrolment pension scheme. Is your business prepared for the new process? Read on for more information…
Feature of the Week
Independent retailers missing out on digital sales | Smallbusiness.co.uk
Recent data suggests almost 30% of consumers will be snubbing small and independent shops this Christmas in favour of larger, retails firms who offer a better digital experience.
Respondents cited a lack of delivery options, concerns over availability of items in-store and inflexible returns policies for making it difficult to research and buy goods online.
SMEs to be subject to quarterly tax returns | The Times
As of 2018, millions of self-employed people will have to file tax returns as many as four times a year. SMEs will also be subject to the quarterly returns usually associated with large publicly traded companies.
HM Revenue and Customs has claimed the measures will raise an additional £600 million in revenue, as well as making it easier to file tax returns.
UK small businesses are unprepared to deal with foreign exchange volatility if the Federal Reserve rates are subject to a raise in December.
While 88 per cent of small business owners said they understood the potential impacts of a US rate rise on currency markets, 70 per cent felt their business needed to be better prepared to deal with exchange rate volatility.
UK SMEs driving innovation within service sector | International Business Times
Innovation within the service sector lead by SMEs is partly responsible for a steady growth in our economy.
The UK’s service sector has predicted a rather more impressive end to 2015 than was previously expected. This is despite hits from China and a sluggish Eurozone.
Pension auto-enrolment for small businesses to be reviewed | Startups.co.uk
The work and pensions committee are due to launch an inquiry into the impact of auto-enrolment on UK SMEs.
The review comes in light of recent concerns over the impact of auto-enrolment on small business employees, and potential confusions around the scheme which could leave many unprepared.