International finances are top of the news this month, while a little closer to home, farm policies are shaking up business for UK farmers and students are looking more entrepreneurial than ever before.
Want to find out more about the top headlines for small businesses in June? Read on…
Feature of the Week
The big financial news this month has been the plight of the Greek economy, and their owed debts to the rest of the European Union.
It may not be explicitly small business related as of yet, but some are predicting that the risk Greek poses could have a knock-on effect on the UK’s business and domestic finances.
Bank of England governor Mark Carney says that the outlook for the UK’s financial stability has “worsened”, but that our direct financial exposure to Greece is minimal. Read this report from the BBC for all the details.
Scrapping milk quota will hit farmers, warns dairy boss | The Telegraph
The last few months have been all-change for farmers, thanks to April seeing the lifting of a milk production quota put in place by the EU 30 years ago.
The ending of the quota means that all 28 member states will be able to sell more overseas, but some are saying that this will be a “massive blow” to British farmers and could cause a surplus of dairy products thanks to ramping up production. Click above for more information.
Online freelancer hub, PeoplePerHour, has conducted new research that indicates that one in two people could be working for themselves within five years. According to them, if current trends keep up, half the working population will undertake some sort of freelance work – even if it’s alongside their day job.
It may sound like a lot, but not entirely outlandish when compared with other statistics. The Office for National Statistics had noted that self-employment is at a 40 year high, with some quoting even higher figures. See this article for a few reasons why so many people are opting to take on taxes themselves.
UK productivity remains subdued | BBC News
The Office of National Statistics are at their market research game again, revealing some new numbers that suggest that productivity across the whole economy has fallen slightly for the year – even though the last quarter showed slight growth. See their full analysis of our productivity and output in the piece above.
Tens of thousands of undergraduates running their own businesses | SmallBusiness.co.uk
It looks like a huge chunk of the UK’s start-ups and small businesses are being run by those who’ve just left university, according to some research from Direct Line for Business.
The graduate research found that UK students currently run more than 52,000 companies. Of those students who aren’t currently running a company, 15% would like to or have plans to start one after graduating.
This piece points out that international influencers like Mark Zuckerberg (Facebook) and Larry Page and Sergey Brin (Google) are likely to have sparked the entrepreneurial spirit, with all being famous for starting their businesses while at university or shortly after.