Small business issues have made the news for many reasons this week – as usual a mixture of exciting opportunities and possible threats. Here are the stories we covered this week, that could affect your small business.
Last week, the innovative business funding site Kickstarter launched in the UK. Entrepreneurs can raise funds for their creative projects through donations on the site. Donors don’t receive equity in the company, just the satisfaction that they helped a project come to life.
A report we covered on Thursday revealed that an impressive number of small businesses have managed to pull themselves back from the brink of bankruptcy. The report showed that two thirds of the small businesses facing bankruptcy six years ago managed to survive.
To end the week, we wrote about working hours, and told the story of a Norwegian airline pilot who turned his plane around so his crew could avoid going into overtime. It’s a different story for small business owners, who often find themselves working long and unsociable hours.
On Monday, the living wage (the hourly pay someone would earn to fulfill basic living needs) was officially raised to £7.45 across the country and £8.55 in London. Boris Johnson and Ed Miliband both showed their support and called for businesses to pay these figures instead of the £6.19 minimum wage.
And finally, it looks like the end is near for those confusing government websites. The government admitted that its online services were ‘rarely’ used and said that they would get a revamp in the next couple of years, starting with HMRC and the Department for Work and Pensions.