Archive for June, 2007

Top tips - Prevent and cure IT disasters

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Business Link
on 14 June, 2007
in IT & eBusiness and Top Tips
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When managing complex IT systems and services, things can go wrong. Prevention works with cure to ensure you are ready if disaster strikes. If it does, you need a plan to get your systems back on their feet before you lose too much time, money or data.

In addition to basic but important precautions such as installing security updates and maintaining tight password policies, it’s also important to think about disaster prevention from a strategic perspective, planning critical tasks such as data loss prevention and business continuity.

Read our Top tips - Prevent and cure IT disasters

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The law - Data protection

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on 14 June, 2007
in Legislation & Regulations
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The Data Protection Act has two aims. First, it provides a framework for handling personal information. Second, it gives individuals the right to know what information is held about them.

1 - Handling personal information - 8 data protection principles

Anyone who processes personal information must make sure it is:

  • Fairly and lawfully processed
  • Processed for limited purposes
  • Adequate, relevant and not excessive
  • Accurate and up to date
  • Not kept for longer than is necessary
  • Processed in line with the individuals’ rights
  • Secure
  • Not transferred to other countries without adequate protection


2 - Individuals’ rights under the Act

  • Right to access. Individuals have the right to know if you, or someone on your behalf, hold information about them. This extends to knowing what information is processed, why, and who it may be disclosed to. Individuals can request a copy of this information, and are entitled to know about the source of the information.
  • Right to prevent direct marketing. Individuals can request you don’t use their information for direct marketing. You must comply within a reasonable time period (In most cases, 28 days).
  • Right to have information corrected. Personal information that is factually incorrect or misleading must be changed upon request. If you don’t, the individual can impose a court order to correct or destroy the information.
  • Right to compensation. Damage claims can be made if your breach of the Act has led to damage or distress (the latter can’t usually be claimed on its own).
  • Right to prevent automated decisions. Individuals can stop important decisions about them being made solely by automated means. For example, recruitment decisions resulting exclusively from automated computer tests may be unfair and subject to prevention.

How to comply

Although the principles of Data Protection legislation are relatively straightforward, implementation of processes to ensure compliance may require some planning.

The comprehensive Business Link guide ‘Comply with the Data Protection Act’ includes:

  • Background information about the 8 DP principles.
  • Information on how to fairly and lawfully use personal information.
  • Information on access rights.
  • Guidance about monitoring employees.
  • Information about the Information Commissioner’s Office (the independent body that enforces the Data Protection Act).
  • A case study entitled ‘How I complied with the Act’.

More info - Comply with the Data Protection Act

3 ways to - Borrow and reduce your tax bill

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Business Link
on 14 June, 2007
in Finance
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Borrowing is a key part of many business plans. It enables startup, facilitates growth and funds development. But before you start, you should consider the pros and cons of different types of borrowing - from the costs and pressures of repayment - to using tax relief to save you money.

So what tax relief options are available?

Tax relief on renting or leasing an asset

Renting or leasing assets can reduce your tax bill because the cost is deductible as a business expense.

By spreading the cost of acquiring assets, renting or leasing helps businesses manage repayments in line with revenue generation, ensuring cash flow remains manageable over time.

Renting or leasing can also facilitate business growth, by generating assets with expansion plans in mind.

Claim loan interest against tax

Interest on business loans is a deductible expense for calculating profit for tax if the loan is exclusively for a business purpose or property letting (when part of your business premises).

Interest on overdrafts and credit cards can be a deductible expense only when used for business purposes.

Borrow money for capital investment from pension schemes

Small self-administered schemes (SASSs) are pension plans designed for shareholding directors of small limited companies. Subject to certain conditions, the schemes allow borrowing for capital or fixed assets.

Interest earned by the pension scheme is not subject to tax. You also can claim tax relief on the loan interest payable to the scheme. SASSs effectively let a business borrow from itself.

More info

For more information on the types of borrowing discussed in this article, including further resources and examples, see the Business Link guide - Borrow money tax efficiently

Further information is also available on Asset Finance

Know to grow

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Business Link
on 14 June, 2007
in HR & People Development and Strategy & Operations
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Many businesses create, identify, record and distribute knowledge organically - without the need for intervention or process. As your business grows your knowledge grows too.

Turning this around, the act of proactively managing and increasing the value of knowledge can help grow your business. Right?

Your knowledge may be trade secrets, patents, or a ’special way of doing things’. Protecting this knowledge could be your first reaction, but lots of businesses grow by licensing or sharing knowledge to make money or establish partnerships.

Perhaps your knowledge is your people, their years of experience or specialised skills. Or, maybe Fred is the only person who knows how to get the projector working… Not important, until your dream client visits to see your pitch and Fred’s off sick.

A simple example, but it makes the point. Your approach to managing knowledge will depend on how disparate your knowledge is, how easily you can record it, and how valuable it is to you, competitors or customers.

The challenge is harnessing knowledge in a coherent and productive way. You need to identify sources of knowledge and figure out ways to record, protect, share or exploit information effectively throughout your business or more widely.

Want to know more?

The Business Link guide ‘The importance of knowledge to a growing business’ outlines ways to exploit and share knowledge across your business. It also offers advice on creating a knowledge strategy and explores technology as a means of managing knowledge.

More info - The importance of knowledge to a growing busines

HR focus - Plants in the workplace; Employee consultation; Communities of Practice (Cop)

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on 14 June, 2007
in HR & People Development
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Plants make you feel and work better

The argument that plants can improve a person’s well being has until now been largely speculative. But mounting research reinforces the link between green offices and stress free, productive workers.

Washington State University conducted a study that found - after adding plants into a windowless workplace - participants to be more productive (12% quicker reactions during computer tasks) and less stressed with lower blood pressure readings.

A study of Norwegian workers by the Agricultural University of Norway linked health benefits to plants in offices. The study witnessed symptoms of fatigue falling by 30 per cent and headaches by 20 per cent after plants were introduced into the workplace.

Further research found evidence that plants can reduce the level of allergens in the air, decrease noise pollution, and create balanced humidity levels. Also, plants are thought to aid recovery from stress during break periods.

More info - Facilities for customers and employees

The law - Inform and consult your employees

Regulations state employers must:

  • inform employees of the main terms and conditions of employment (and communicate subsequent changes).
  • communicate in writing reason for dismissal, upon request, or automatically in the case of women who are pregnant or on maternity leave.
  • consult on certain matters when buying or selling a business.
  • give Trade Unions the information they need for collective bargaining.
  • provide itemised payslips to employees whenever they are paid.
  • write to employees if requesting Sunday working.
  • consult on collective redundancies, business transfer or changes to pension arrangements.
  • write to employees notifying of the right to request employment beyond retirement age (this must happen at least 6 months but no more than 12 months in advance of intended retirement age).

Additional responsibilities exist for businesses with at least 100 employees. The Information and Consultation of Employees (ICE) regulations give employees the right to request specific consultation rights. Intentionally flexible in nature, areas for information and consultation include organisational structure, employment levels, objectives and policies, past and present performance and future plans and prospects. These rights apply if ten percent of employees make a valid request, or can be voluntarily implemented by the employer.

More info - Inform and consult your employees

Sharing knowledge - Communities of Practice

Communities of Practice (CoP) is a process of social learning that occurs when people with a common interest collaborate to share ideas, solutions and innovations.

Companies adopt this practice to manage and share knowledge across offices, departments and business functions. Groups communicate periodically to share and record information that’s relevant to the groups objectives or the company’s wider needs.

From a HR perspective, it’s worth investigating how a CoP framework might benefit your business - not just as a tool for managing information - but as a process to retain knowledge when people leave their jobs.

More info - Communities of Practice commentary from idea.gov.uk

More info - Read article Know to grow

In Brief - Have your say on better regulation; UK businesses see bright future; Online transactions with Government

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Business Link
on 14 June, 2007
in Finance, Legislation & Regulations and News & Opportunities
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Have your say on better regulation

You can have a direct influence on how regulations are devised and delivered by letting the Government know how you want regulation to work better.

An easy to use, up-to-the-minute, online suggestion site gives any business, third sector organisation or public sector employee the chance to influence the way regulation affects them.

William Sargent, Executive Chair of the Better Regulation Executive said:

“This is not just paying lip service; we are really serious about hearing ideas. We will respond to all suggestions and look for ways we can help make those suggestions a reality. That is why all government departments will have to openly publish their response to any suggestions.”

Have your say on regulation by going to www.betterregulation.gov.uk

UK businesses optimistic about future success

A survey conducted by KPMG found 64 percent of small and medium sized enterprises were optimistic about the outlook for businesses over the next year, the highest level of optimism since 2004. Another survey undertaken by the Small Business Research Trust and HSBC Bank found almost half of small businesses expect sales growth in the second quarter of 2007.

Business Link Business Adviser Peter Weeks says “Look at budgets and review your business plans for the year ahead. With an optimistic outlook and solid plans, businesses can focus on turning confidence into results.”

More info - Budgeting and business planning

Online transactions with Government

We explain how online transactions with Government can save you time and money.

File returns online
Why use Internet transactions to pay business taxes? This guide explains how it helps your business.

Online transactions
This interactive tool identifies online transactions available to your business and explains how to register and enrol.