ROUND-UP Small Business Commisioner Paul Uppal (centre) at the FSB’s lunch FSB action on late payments ROUND-UP Crime costs small business around £12bn a year, according to the FSB, and retailers are among the most vulnerable. In addition to offline offences, cybercrime is an increasing threat to small businesses and the digital economy, so it is worth taking a step back and viewing your business and premises as you think a criminal might. Look for any weaknesses that could be exploited and follow some simple steps to enhance protection for your business. These include: l Key security – only give selected employees access to certain keys and codes, and make key security part of your staff training programme. Keys to secure areas should not be left unattended, and they should not have tags on that identify where they are for – use code numbers instead l Lone working – if at all possible, don’t open or close your premises alone l Window displays – don’t block the view in from or out to the street with your displays. West Midlands Police and Staffordshire Police offer useful advice on business crime prevention and there is more information in TSBN Autumn 2018. As well as crime, small businesses can be adversely affected by unexpected incidents, such as flooding, fire or extreme weather conditions. In the winter months, severe snow and ice could disrupt your operations, but hot summer days may also have a major impact in the future. The UK recorded its highest ever temperature on 25 July this year – 38.7°C in Cambridge – so businesses will need to prepare for increasingly warm weather. A business continuity plan can help ensure your company continues to operate in the event of a major or unexpected incident. The plan should harness the knowledge and experience of people who are fundamental to the operation of your company, including owners, directors, or employees with experience and knowledge of your: l Manufacturing processes l Services l Key service providers l Regulations l Supply processes l Product distribution l Client accounts and customer service After conducting a business impact analysis, you can create a continuity plan and put together a ‘Business Battle Box’. For more help and advice on business continuity planning, go to the FSB website. Credit: Karen Woolley, FSB development manager Image: iStock / LumineImages Fair pay, fair play Late payment was the subject of Paul Uppal’s keynote speech to the Federation of Small Businesses’ (FSB’s) Staffordshire & West Midlands Stakeholder Engagement and Local Authority Awards lunch in July. The Small Business Commissioner (SBC) gave an overview of his office’s work on late payments to an audience that included MPs, Local Enterprise Partnership board members, and officials from the Department for International Trade, and representatives of Staffordshire and West Midlands police. Winners and sponsors of the 2019 FSB Celebrating Small Business Awards were also in attendance, as were the leaders of 15 local authorities and four Chambers of Commerce from across Staffordshire, Birmingham and the Black Country. In addition, the event featured the 8th FSB Local Authority Small Business Friendly Awards, at which councils were rewarded for projects that benefit FSB members and other small businesses. According to FSB research, small businesses in the UK are owed £6,142 on average, mostly by larger firms that don’t pay them for goods and services on time. The federation has been highlighting the impact of late payment and supply-chain bad practice on small firms for more than 10 years. Practices range beyond simply paying late, and include retrospective discounting – when larger firms force a discount on an already agreed price – and ‘paying to stay’. This is when smaller companies pay larger firms to remain a supplier, but without the promise of any actual work. As a result, 37 per cent of small businesses have run into cash-flow difficulties, 30 per cent have had to use an overdraft facility, and 20 per cent have reported a slowdown in profit growth. If all payments were made on time, 50,000 more businesses could be kept open each year and the UK economy would get a £2.5bn boost, says the FSB. To report late payment issues, go to the SBC website. Credit: Karen Woolley, FSB development manager Business crime and continuity For further information please contact your local Trading Standards Service l l l l In March 2018, the FSB won a commitment from the Chancellor that the government would tackle the issue of late payments to small businesses. This led to a Call to Evidence, published in October 2018. The government launched its Duty to Report website, where large companies have to publish their payment terms. A debt-recovery service for FSB members was launched in 2017. In spring 2017, the FSB helped recruit the government’s new Small Business Commissioner. The Office of the Small Business Commissioner was launched later that year, to help small businesses resolve payment disputes with larger businesses and bring about culture change. AUTUMN 2019 ROUND-UP