Omega2 Accounting

Business Concerns

A survey by the insurance company Hiscox has highlighted the principal concerns expressed by small and medium sized enterprises in 2007. Heading the list is the burden of taxation imposed on business including local business rates, VAT and national insurance. Following the proposed changes to the capital gains tax system outlined in the chancellor's pre-budget report in October the issue of taxation is likely to remain a major concern during 2008.

Many companies also expressed concerns over the requirements of complying with uk employment law and the ever-increasing number of regulations involved in conducting their business. The top ten concerns, as a percentage of those interviewed, were as follows:

80% - Business taxation

76% - Increasing Sales or winning new business

75% - The effect of the economy on the business

74% - Rising costs (rent, energy bills)

73% - Paperwork & regulations

68% - Competition

68% - Cash Flow

66% - Compliance with UK corporate law

61% - Technology Malfunction

61% - Refusal of Clients to pay bills

As specialists in the areas of business taxation and corporate compliance Omega2accounting can certainly help you address your concerns and manage your business affairs with confidence.