New National Minimum Wage rates (NMW)- 1st OCT 2012

NATIONAL MINIMUM WAGE RATES

The Government has accepted the independent Low Pay Commission’s ( LPC) recommendations for this years National Minimum Wage (NMW) rates

The following rates come into effect on 1st october 2012:

  • The adult rate will ncrease by 11p to £6.19 per hour
  • The rate for 18-20 year olds will remain at £4.98 an hour
  • The rate for 16-17 year olds will remain at £3.68 an hour
  • The rate for apprentices will increase by 5p to £2.65 per hour

For professional impartial  business advice and solutions contact Janette Whitney at Janette Whitney & Associates on 01403 733671 or email jw@whitneyassocs.co.uk.

New Guidance – national minimum wage- 2011

National minimum wage

Minimum Wage

Guidance providing greater clarity for businesses who offer work experience, placements and internships has been published today, as announced in the Social Mobility Strategy in April.

The updated guidance from Business Link and DirectGov includes advice on the payment of the National Minimum Wage (NMW) for work experience staff and interns, and clarifies when someone is entitled to this payment. The guidance also includes a new worker checklist for employers and examples of case studies, which aims to make sure that those who are entitled to the NMW receive it.

Entitlement to the NMW does not depend on a job title but on whether the arrangement they have with an organisation makes them a worker for NMW purposes. Where an individual is a worker – and no exemption applies – then they must be paid at least the NMW

The full version of the guidance can be found here – www.businesslink.gov.uk/nmw

Anyone who feels they have had their National Minimum Wage rights abused is encouraged to contact the Pay and Work Rights helpline on 0800 917 2368 for free and confidential advice.

From 1st october 2011, new National Minimum Wage (NMW) rates will come into force. The NMW applies to nearly all workers in England, Scotland & Wales and sets hourly rates below which you must not allow pay to fall.

For pay reference periods beginning on or after 1st October 2011, you will have to pay all eligible workers the following:

  • £6.08 an hour to Adult workers aged 21 and above
  • £4.98 an hour to workers aged 18-20
  • £3.68 an hour to workers aged 16-17
  • £2.60 an hour to Apprentices

The daily accomodation offset.

You will be able to offset from the NMW an amount of £4.73 per day for each day that you provide a worker with living accomodation.

For professional & impartial Business advice contact Janette Whitney at Award Winning Business Consultants, Janette Whitney & Associates on 01403 733671 or email jw@whitneyassocs.co.uk

 

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Olympic road ahead closed-Is your Business Ready?

Olympic Cycle course
Are you ready?

The London-Surrey Cycle Classic test event

The Olympic Cycle race test event will be held on the Sunday 14th August 2011 – just over 4 weeks time – will your business be affected? Click here to view a map of the route.

The London-Surrey Cycle Classic test event being held on Sunday 14th August as part of LOCOG’s comprehensive sports testing programme. In order to deliver this exciting event there will be road closures and parking suspensions click here for more detailed information along the route within London and Surrey. Arrangements will be made to minimise disruption for local residents and businesses. The test event will provide an opportunity for you to consider how your business may be effected and the potential impacts during the Olympic event on the 28th and 29th July 2012.

Think and plan ahead, what will you be doing to ensure that you don’t lose out on valuable business during the local olympic event?

More importantly how can you capitalise on the extra potential sales of your products and services with the vastly increased numbers of potential cusromers right on your doorstep.

 

For professional & independant business advice contact  Janette Whitney at Award Winning Business Consultants, Janette Whitney & Associates on 01403 733671 or email jw@whitneyassocs.co.uk.  

 

Increase in the national minimum wage- 2011

National minimum wage

Minimum Wage

 

From 1st october 2011, new National Minimum Wage (NMW) rates will come into force. The NMW applies to nearly all workers in England, Scotland & Wales and sets hourly rates below which you must not allow pay to fall.

For pay reference periods beginning on or after 1st October 2011, you will have to pay all eligible workers the following:

  • £6.08 an hour to Adult workers aged 21 and above
  • £4.98 an hour to workers aged 18-20
  • £3.68 an hour to workers aged 16-17
  • £2.60 an hour to Apprentices

The daily accomodation offset.

You will be able to offset from the NMW an amount of £4.73 per day for each day that you provide a worker with living accomodation.

What happens if workers are underpaid?

Employers who do not pay the correct minimum wage will be issued with an fine of up to max £5000. You will have to pay this even if the underpayment was a mistake !

The most serious cases could be subject to an unlimited fine.

HM Revenue & Customs (HMRC) are responsible for enforcing the law on the national minimum wage and they will follow up complaints from workers and other sources.

For professional & impartial Business advice contact Janette Whitney at Award Winning Business Consultants, Janette Whitney & Associates on 01403 733671 or email jw@whitneyassocs.co.uk

 

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The Importance of Business Planning

   

SO WHY IS BUSINESS PLANNING SO IMPORTANT?     

 

where is my business going?

.No-one sets off on a journey without knowing where they are going and having a pretty good idea of how to get there. 

 Business is the same.

 

 You need to plan in the first place, but you also need to check constantly that you are on course. 

There are 3 simple questions that many businesses don’t ask themselves – but should  

1.  Do you really know what your business is good at?  

2.  Do you have a good idea of where you want to be in 3 yrs time?  

3.  Do you know if you are doing well enough to get there?  

 One of the reasons why many business owners fail to plan properly is that they are too close to their business – you are all emotionally involved and your time is taken up with solving the day to day problems.  

As a result you may not have time to step back from the business and take a long look at it.- that’s where an impartial adviser can help you most.  

We’ve all said it – “I have more important things to do than plan”  

But people who say that end up working longer hours for the same profit,  

They chase sales in the belief that turnover is the key to success.  

You know if you are in this trap if your turnover rises and your profit are static or falling.  

  

   Remember Turnover is vanity profit is sanity 

     

Your aim should be to improve profitability by at least at the same level as turnover.  

 You will only be able to do this by planning ahead, analysing your performance and keeping your finger on the pulse of the business.  

 

 So to recap 5 key tips to remember 

   

  1.  If you don’t know where your business is going, any road will do – (so  set yourself some goals)
  2. Be proactive in your planning, not reactive – ( plan longer term not just day to day- business is a marathon not a sprint)
  3. Implementation is key – (a plan in isolation is worthless – put it into action and not in a drawer!)
  4. Monitor performance and effectiveness – in terms of financial/sales/people/ your happiness factor
  5. Adjust your plan as necessary –it’s not set in stone, if markets change then the plan has to change, Seek advisers help.

   

To summarise why Business Planning is vital  

   

A good business owner wants to control the business rather than be controlled by it.  

  If your focus is short-term then you are being controlled by your business.  

  By taking a longer view and having a direction, you have a better chance of controlling your own destiny.  

Regularly ask yourself  

  • Where am I now?
  • Where do I want to be?
  • How am I going to get there?
  • What might get in my way?

   

It is better to use the help of an IMPARTIAL ADVISER to help you answer these questions to give you an objective picture of your business- which means you have to be forward thinking enough to ask for help. Are you?  

Remember to fail to plan is to plan to fail

   

   

contact me at Award Winning Business Consultants Janette Whitney & Associates”    

   

  

   

 

Boost your Business in 2010 ……….or Bust?

Boost your Business Results

With 2010 fast approaching and the recession still biting, ensuring your business is set for recovery has never been more important. 

 For some 2010 will still be make or break so to ensure your business is on the road to recovery here are some key questions  you should be asking yourself.

1. Look at your Business Plan. Consider your vision or long-term goal for your business. Is it still relevant for the challenges you are likely to face in 2010? Do you have a vision? Do you really need to do business the way you do, or is there a better, faster, leaner way for you to achieve the same objectives?

2. Are you selling what your customers need today, not what they needed yesterday? Have you kept up with the changes and advancements in your industry or sector? If not then what do you need to do to get back on track?

3.When did you last take a long hard look at your costs? Are you missing possible savings on utility bills because you have not shopped around? Make sure you get 3 quotes for any large purchase and be prepared to negotiate.

4. Are you spending enough on marketing? This can be an easy expense to reduce but research shows that companies which spend more in the long-term do better than their competitors.

5. If you employ people do you employ too many or too few? Have you become complacent in the way you recognise and reward them? Are you doing enough to ensure they don’t walk to your nearest competitor?

Take time out to work on your business, not in it- get help in the form of an independent strategic review from an experienced professional adviser. It will probably take you longer and cost you more in terms of lost revenue if you try and do it on your own.

To kick start your business in 2010 with guaranteed results invest in a ’Business Health Check’ with me. – A strategic business review that will show you exactly what you need to do to drive up your profits and sales and put your business firmly on the road to recovery.

 

 For Professional , impartial business advice Contact me at Award Winning Business Consultants, Janette Whitney & Associates 

            Tel: 01403 733671         E: jw@whitneyassocs.co.uk

           Making Your Business Work Harder For You

 

Business plan re-think for RBS

We all know we should have a business plan to guide our business along the route which we want to take and which will deliver the returns that we /the owners need over the medium term – at least 3 years.

Obviously Royal Bank of Scotland’s Chief Executive Stephen Hester forgot  to take account of market forces and undertake a robust S.W.O.T analysis before finalising his Business strategy as he is having to re think his Business plan for RBS only 8mths after it was formulated!

– But then this has been one of the problems which helped cause the Banking crisis – short term thinking and quick gains rather than looking at the longer term with prudent planning.

This article from the Guardian Newspaper  says it all.

What do you think as a small business, especially if you are trying to raise finance  for business development?  Comments please.

 

Contact me at Janette whitney & Associates, Business Consultants for professional  impartial  advice & solutions.

 

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