Agri-Shop Ltd
Farminguk
31 August 2016 | Online since 2003
OvoConcept


2 May 2014 04:39:11 |Finance,News

Tax break to support agricultural business growth


Small businesses in the agricultural sector will be able to access savings with the new Employment Allowance, which comes into force this April.
The scheme, which will mean eligible employers will save up to £2,000 a year on their employer National Insurance Contributions (NICs), will enable agricultural businesses to invest the money saved into growth or other areas that benefit them.

The allowance, announced by the Chancellor at Budget 2013, is just one of the many schemes available to help small businesses start-up and scale-up their organisations in the UK, with many employers taking advantage in their first payroll of the year. The scheme feeds into the wider Business is GREAT Britain initiative, which aims to build confidence in small businesses across the country and match their potential for success with the services that can help them grow, hire, lead and export.

Getting the right people in place is important to employers’ planning for potential future growth, with 59% of employers in the agricultural sector influenced to hire due to business expansion, according to a new poll commissioned by Department for Business, Innovation and Skills (BIS). However, 16% of agricultural small businesses find it difficult to find the right type of candidates, with over half of employers (65%) rating experience as the most important factor when looking to recruit new staff.

A hard working nature (25%) followed by reliability (18%) were ranked as the top attributes that employers’ value in individuals when building and growing their business in 2014 and beyond.

Matthew Hancock, Minster for Skills and Enterprise said: “As businesses grow, it is crucial to recruit and retain staff with the right skills and attributes to go further, an area we support through Apprenticeships and through the business recruitment advice across Government’s small business services.

“Government is backing Britain's small businesses by supporting them to grow to their full potential, nurture new talent and skills, export where there is the interest and opportunity, and lead the way for others to follow. As well as financial support, such as the new Employment Allowance of £2000 off National Insurance, this support includes linking businesses together to mentor and share best practice.”

Chris Glen, West Yorkshire Regional Chairman of the Federation of Small Businesses, said: “Small businesses boost the economy and have been an asset to the UK during recent economic hardship. It’s important that Government is backing these success stories and hard working businesses through increased assistance across a number of areas. As small firms grow, it will help the job market and boost the economic recovery even further.”

Download

0 Comment

loginuserlogo
Name

Please enter your name


Email

Please enter your email

Please enter valid email


Comment

Please enter your comment


Post Comment

Your comment has been submitted successfully. Please wait for admin approval.


Comments

No comments posted yet. Be the first to post a comment


New Zealand | 31 August 2016
Agribusiness: Managing risk key to dairy farming future

Few industries generate as much discussion or concern in New Zealand as dairy farming. Currently, there is much discussion about the high levels of dairy debt. Those with long memories will know th...


USA | 31 August 2016
Farmworker overtime bill is another factor in agricultural evolution

Everyone knows about the California Gold Rush – the massive migration of fortune seekers to the hills of the former Spanish colony in the 1840s and 1850s. During the same period, however, there was...


Australia | 31 August 2016
Cattle exporter misses prospectus targets

Live cattle exporter Wellard Group has missed its prospectus forecasts on revenue, profit and margins, booking a $23 million annual loss instead of the forecast $9 million net profit. Stripping out...


USA | 31 August 2016
The future of agriculture could rest with self driving tractors

With all the talk of autonomous cars from Tesla’s master plan to take on Uber to the legacy automotive players like Ford and Audi pursuing the self-driving agenda, there’s little talk on self-driving ...


New Zealand | 31 August 2016
Stolen herd of dairy cows would cost at least $1m

The theft of 500 dairy cows worth $1 million is no joke and if it had been a bank robbed of this amount there would be a big fuss, says Federated Farmers. Dairy chairman Andrew Hoggard said the the...



Trending Now

Viewed
Discussed


Top stories you may have missed
FarmingUK
FarmingUK Logo

FarmingUK

A new survey has revealed that the vast majority of British consumers belie...


FarmingUK
FarmingUK Logo

FarmingUK

The British public are overwhelmingly in favour of keeping or strengthening...


FarmingUK
FarmingUK Logo

FarmingUK

The sustained recovery of pig prices since the spring has come at a time wh...


FarmingUK
FarmingUK Logo

FarmingUK

A World Trade Organisation (WTO) panel has declared the Russian import ban ...


FarmingUK
FarmingUK Logo

FarmingUK

A new study has linked oilseed rape crops grown from neonicotinoid-treated ...


FarmingUK
FarmingUK Logo

FarmingUK

Philip Hammond is to guarantee billions of pounds of UK government investme...


FarmingUK
FarmingUK Logo

FarmingUK

Access to the foreign labour market is 'critical', according the chief exec...


FarmingUK
FarmingUK Logo

FarmingUK

The Tenant Farmers Association has said the National Trust's vision for a p...


FarmingUK
FarmingUK Logo

FarmingUK

Ulster farmers will 'not lie down and wave the white flag' when Brexit nego...


FarmingUK
FarmingUK Logo

FarmingUK

The cost of rural crime to the UK economy costs £42.5 million a year, accor...


closeicon
Username
Password