Entelliz Limited is a company registered in England and Wales (Registration Number 4505969)
Website © 2007-09 Entelliz Limited; Images © 2007 Jupiterimages Corporation
Website © 2007-09 Entelliz Limited; Images © 2007 Jupiterimages Corporation
STOP PRESS......
Some small firms face 100% rise in utility bills
Over a million small firms have been warned that their electricity and gas bills could increase by 100% this year, and are being advised to check their contracts to ensure they are not due to be automatically renewed.
Many utility companies renew a company's contract automatically without informing them of the increase in their charges - and both energy and gas prices have almost doubled over the last year. Small companies that signed energy contracts a year ago would have received a tariff of around 7p/kWh for electricity and 2.5p/kWh for gas.
It is important to check when the contract was signed and ensure that correct notice is served to teh supplier to avoid falling victim to the trap. "Businesses, particularly small businesses, are either totally oblivious to the renewal trap, or confused by the small print which can run to 9,000 words in tiny font," said Jonathan Elliott, managing director of Make It Cheaper.
BUSINESS ARTICLE of the WEEK
Outrage over Outsized Executive Compensation: Who Should Fix It and How?
The contrast is jarring. As thousands of people lose their jobs, headlines are focused on excessive executive compensation and lavish perks, including multi-million-pound bonuses. It is not surprising that the harsh economic climate and resurgent role of government in business has turned a spotlight on compensation.
New rules announced this week in the US by the Obama administration set new limits on executive pay. But overall, what should government do, or not do, to ensure fairness and accountability in the executive suite?
NEWSFLASH of the WEEK
240,000 small companies 'fear for their future' in 2009
The study, by Simply Business, surveyed 550 entrepreneurs with 20 employees and 5% of those polled believe their businesses may not survive 2009. If this percentage was rolled out across the entire UK economy, this would be equivalent to 240,000 small businesses and a total of 475,000 jobs.
Over half (53%) of small business leaders say they are feeling immense pressure to ensure their companies survive 2009. More still (67%) have lost confidence in the current business environment since this time last year. Close to half (44%) anticipate profits to be hit during 2009.
Nearly half of business owners fear that their staff do not understand just how serious the recession is (48%); and fail to appreciate the pressures their firms are under (46%). Over half (54%) feel their staff do not understand how hard they are working to ensure their firm’s survival. Nearly two thirds (63%) see their staff’s lack of recession experience as an additional challenge to their survival in 2009.
Looking ahead, small businesses are facing a number of critical challenges in 2009.
Over a third (34%) of entrepreneurs expect to be impacted by an ongoing fall in consumer spending, whilst 29% and 23% believe late paying customers and increasing operating costs will present major hurdles respectively
MANAGEMENT TIP of the WEEK
When You Can't Say No to a Customer
A firm that is your biggest client and accounts for most of your revenue wants you to handle the same type of project youore but with a much tighter deadline.
What to do? Find out exactly what the client needs by the deadline and what can wait. Then rally your team by communicating the importance of the project to their future and the company's. Ask for ideas on how to get the work done faster and cheaper. Some employees may come up with ideas that can create you efficiencies even beyond this particular project.
When the project completes, make sure that you thank your team for the job well done and show your appreciation for their support.
EVENT of the WEEK
Partnering for Innovation
Date: 6 March 2009
Venue: The Studio, 7 Cannon St Birmingham
Date: 26 Fabruary 2009
Venue: Central Saint Martins College of Art
Price: free
Partnering for Innovation is an inspiring and inclusive one-day event developed to raise awareness of and support applications to the Technology Strategy Board’s (TSB) research and development collaborative fund. The event programme will include a combination of short briefings and presentations, creative brainstorming and knowledge sharing, as well as facilitated networking and collaborative working opportunities. For more info and to book either event click here
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Entelliz Weekly Newsletter - week 8, 2009