ICAEW BCM: business confidence boosted by vaccine rollout 18 February 2021: Chartered accountants are confident sales will grow and employment will rise over the next 12 months as the COVID-19 vaccine rollout picks up pace, according to new research from ICAEW. While companies in the UK continued to suffer year-on-year declines in domestic sales (2.2% in Q1 2021), the majority of chartered accountants are hopeful of a return to sales growth (5.2%) in 2021 if the pandemic is contained, according to ICAEW’s Business Confidence Monitor (BCM) for Q1 2021.
The regular survey of 1,000 chartered accountants covering a range of UK sectors, regions and company sizes found that business confidence was back into positive territory in Q1 2021. Despite the impact of restrictions on trading, the report suggests that news of vaccine approvals and its subsequent rollout has lifted their expectations for the year ahead.
New subsidy system must deliver on levelling-up agenda 5 February 2021: UK government’s replacement for the EU’s State Aid regime must deliver on its promised aim to spread opportunity across all regions of the country, says ICAEW.
Under the system outlined in a new government consultation this week, local authorities, public bodies and the devolved administrations can decide to issue taxpayer subsidies by following a set of UK-wide principles. The government says this will allow the UK to be “more dynamic” in providing support to businesses, including the targeting of small businesses and new R&D focused industries to encourage job creation and growth across all parts of the UK.
Does your board know how to make its net zero contribution? 28 January 2021: Delivering the UK s net zero ambition should be a priority for every board member – executive and non-executive director alike. Chapter Zero and ICAEW have come together to explain what net zero really means for businesses and their boards.
While net zero is the target for 2050, there are various interim targets to keep the UK on track, and the 6th carbon budget is the one that provides the targets for the mid-2030s.
“The 6th carbon budget is a critical part of the jigsaw,” says Chris Stark, CEO of the Committee on Climate Change, set up in 2008 by the Climate Change Act to advise government and society on how to meet net zero targets.
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Consultancy firm SHL, which studied the data, found the 12.3 per cent increase was the highest since 2011.
The figures should be viewed with caution, however, as some may relate to fraudulent companies set up by criminals trying to cash in on Government help.
But experts say many of the new businesses will have been set up by the newly unemployed.
Iain Wright, director for business and industrial strategy at the Institute of Chartered Accountants in England and Wales, says: History shows that following any economic downturn, the number of people starting a business rises sharply. It may be that, after a period of reflection during lockdown, people have thought hard about a business idea and decided to go for it.
I am a resident here and up until a few weeks ago we were Covid-19 free, what else can I say.
A big thank you to all the staff at the Great Hospital who have gone above and beyond in their care.
Diane Schultz
Loddon branch of Co-op
My thanks go to all the staff at the Loddon Co-op. They are always well organised and have made us safe as possible. But more importantly the staff are so kind and helpful. Having a shop like this has definitely made life easier for the people of Loddon at this difficult time. I cannot thank them enough for their hard work and cheerfulness.