Artificial Intelligence (AI) has introduced many changes to the business world in the past year. Some have been positive, like the emergence of innovative AI startups. Others, like the risk of millions of workers losing their job to a robot, have been less so. Computer-based careers, such as data analysis, bookkeeping, and administrative roles, are most susceptible to automation. Last month, IBM laid off thousands of marketing and comms roles after it predicted that 30% of its workforce could be automated by 2028. Workers are making their own preparations. One option is to explore AI upskillin ..read more

Fair pay is a cornerstone of a healthy economy and society. Yet, in the UK, an enduring gap exists between what different ethnicities earn.  An ethnicity pay gap refers to the difference in average earnings between different ethnic groups within the labour market against the traditional “reference market” which is the White/White British category. Tackling this ethnicity pay gap in our workforce is not just the responsibility of business owners, but for everyone – as it has significant ramifications for fairness, economic opportunity, and ultimately, the nation’s prosperity. This article ..read more

Any entrepreneur who says they go on Dragons’ Den for the actual investment alone is either lying to you or incredibly naive – borderline foolish. There are plenty of investors outside the BBC reality tv show who can open doors for you and they’ll likely give you a better valuation and far more time on the business alongside it.  Entrepreneurs go through the pain-staking, anxiety-inducing process of prepping and planning for Dragons’ Den because they want their brand to see success and to feel the thrill of an overnight spike in sales.  Of course, that could come through the profile ..read more

Entrepreneurs and aspiring business owners, take note: registering your company is about to get significantly more expensive.  From May 1st, 2024, the fees associated with incorporating a new business will see a dramatic rise – the first significant increase since 2016. Currently, setting up a limited liability partnership (LLP) or a business comes at a modest cost of just £12. However, this price tag is about to jump to a much steeper £50 for online registration of a new company or LLP. For those seeking same-day service, the fee can climb even higher, reaching £78. Companies House, the ..read more

Doc Martens, the footwear brand synonymous with rebellion and durability, has been kicking around since 1901 – but now it appears it may be in trouble. Shares at the company took a sharp nosedive on Tuesday, falling by a third, and landing a staggering 80% below their 2021 initial public offering price.   So, what’s causing the Doc Martens fall from grace? Here are a few reasons the brand is losing its grip on younger generations. Stuck in the past Doc Martens’ core strength has always been its timeless style. Originally a work boot for British factory workers, the iconic yellow-stit ..read more

The high staff turnover rate in the UK means many of us are searching for a new job this year. But the application process looks unrecognisable now that AI has entered the mix. Recruitment tools like Applicant Tracking Software (ATS) have been given a major upgrade thanks to the advent of AI in recruitment. Machine learning drastically speeds up the process of reviewing resumes by automating those fiddly pre-interview checks you might not even be aware recruiters carried out. Naturally, though, losing the human eye from the initial stages necessitates a different approach to CV design. Below ..read more

Paying your employees is one of the most important aspects of any business – but if you truly want to find (and keep) the brightest and best talent, you should know that high-performers are often driven by the desire for more than just your average paycheck.  Studies such as the 2021 report by McKinsey & Company on the future of work indicate a growing disconnect between employees and traditional fixed salaries, leading to feelings of monotony, a lack of ownership and autonomy, and ultimately, a decline in motivation and performance.  Millennials and Gen Z, now the two largest ge ..read more

Businesses are being urged to invest in employee wellbeing, as official government figures reveal the extent to which poor health is afflicting the UK workforce. According to the Office for National Statistics (ONS), unemployment jumped more than expected between December 2023 and February 2024, due to a spike in the number of workers on long-term sick leave. But is this a case of sick leave, or sad leave? Rather than an outbreak of the common cough or cold, the UK’s ailing workforce can be attributed to the employee engagement crisis, which has devastated staff morale. Employees struggling wi ..read more

The topic of employee pay can be a real can of worms. At first glance, it’s simple: your staff will earn a set wage and be taxed depending on how much they earn. Rates increase incrementally, and no-one pays more than the highest tax band of 45% (48% in Scotland). Peel back the lid, however, and you’ll realise that’s not entirely true. Legislative loopholes mean workers on a higher salary might end up paying closer to 60% in tax – cutting short celebrations for those who have just received a pay boost or a promotion. Below, we’ll explain this 60% ‘tax trap’ in simple terms, so you can understa ..read more

Networking on LinkedIn as a business has changed considerably over the last decade. The platform is now home to no less than 38.1 million people who share motivational quotes, inspirational selfies, and enough #hustle to power a small nation each day. To stand out from this cacophony of voices, timing is key. Most experts say publishing a post mid-morning and mid-week offers the best chance of making it stick. But is this a guarantee of success, or just the law of averages? In truth, the golden LinkedIn hour depends on a multitude of factors including your sector specialism, topic, and intenti ..read more