Research has found that 41% of small business owners and sole traders employ family members, with 27% employing their partner.
The research also found that 17% of business owners and sole traders plan to pass their business on to a family member when they retire. However, 7% believed that their family wouldn’t want to run their business.
Following the success of the first two rounds of Dorset Council’s UK Shared Prosperity Fund (UKSPF) and Rural England Prosperity Fund (REPF) grants, the final round is now open. Businesses can apply for grants between £2,000 – £20,000, with eligible Start-ups able to apply for grants from £1,000 – £5,000.
Students and those going back to university are being warned about the top fraud types affecting young people, as new data reveals almost 69,000 reports were received from people aged between 11 and 29, losing a total of £143.7 million in 2023.
The Farming Community Network (FCN) has introduced the Greenzone Checklist, a valuable resource designed to enhance both business and personal resilience for farmers and farm businesses. This checklist assists in identifying strengths and areas where additional information or support may be beneficial.
British workers are set for better working conditions as the Government takes its first steps towards its Plan to Make Work Pay. The Deputy Prime Minister and Business Secretary convened a meeting with trade unions and business leaders in a first-of-its-kind meeting on 14 August.
It has been a week of financial numbers for members to digest with inflation and UK economy growth both rising.
The 0.6% expansion in the UK economy during Q2 2024 signals a positive trajectory, reaffirming its recovery from the previous recession. This was widely expected and the markets have reacted positively.
The majority of SMEs are still not using artificial intelligence, despite a growing acceptance by businesses that it will help boost productivity. Steve Bulley, President of Dorchester Chamber for Business, said: “The adoption of AI is not just a trend, but a strategic investment that can spur efficiency, innovation, and growth. It’s time for SMEs to overcome barriers and harness the power of AI or be left behind.”
The Chancellor of the Exchequer, Rt Hon Rachel Reeves MP, has made a statement to the House of Commons about the state of public finances this week. Dorchester Chamber for Business President Steve Bulley summaries what we heard in this article.
The Government will use its mandate for change to put economic growth at the heart of its legislative agenda as it prepares for The King’s Speech at the State Opening of Parliament on Wednesday 17 July.
It’s been announced by Dorset Council that it has finalised a contract with Beryl Bikes for the introduction and management of a bicycle hire scheme covering Dorchester, Weymouth and Portland.
Locations for the bicycle stands are still being worked on and an exact ‘go live’ date we will be announced soon.
HM Revenue and Customs (HMRC) has launched a digital tool to help businesses estimate what registering for VAT may mean for them.
The VAT Registration Estimator has been developed after feedback from small businesses suggested an online tool would be helpful to show when their turnover could require businesses to register for VAT and its effect on profits.
The Chancellor has promised to take immediate action to fix the foundations of the economy, rebuild Britain and make every part of the country better off. She pledged to leaders of some of the UK’s pioneering industries to build growth on strong and secure foundations built on stability, investment and reform, and forged through a new partnership with the private sector.
Homeowners will receive more rights, power and protections over their homes under the Leasehold and Freehold Reform Act.
The Act will make it easier and cheaper for leaseholders to buy their freehold, increase standard lease extension terms to 990 years for houses and flats, and provide greater transparency over service charges
The Department for Transport has approved funding for accessibility improvements at Dorchester South Railway Station. This significant investment will enhance the travel experience for all passengers, particularly those with disabilities or mobility challenges.
Following the success of the first round of Dorset Council’s UK Shared Prosperity Fund and Rural England Prosperity Fund grants, are open.
Dorset Council received a total of 64 applications in the previous round, including a number of Dorchester Chamber for Business members. One success story was Minuteman Press in Poundbury.
West Dorset’s MP Chris Loder fears that the 3,500-house North of Dorchester development ‘will happen’ following Dorset Wildlife Trust’s multi-million-pound purchase of 833 acres at Lyscombe Farm – situated 10 miles north of Dorchester.
