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Insights Special

Resilience and Renewal: Building an economy fit for the future

This content series examines economic issues that UK business and chartered accountants are at the centre of tackling to build a better, more resilient future. First, we explore growth, investment and productivity, and then move on to skills. Our final theme covers international trade.

Autumn Statement: short-term gain, medium-term loss

The Autumn Statement included several measures that are welcome news for businesses, but the medium-term outlook looks less positive.

Construction sector exposed as business confidence declines

UK construction confidence plummets amid economic challenges as bank charges and weather woes weigh on the sector.

Surviving 2023 in retail and hospitality

Insights from retail and hospitality experts on how businesses can remain operating efficiently through 2023.

Listen to the recording

Podcast

Surviving the cost-of-doing-business crisis

In this Insights in Focus episode, we discuss the major challenges facing UK businesses, including energy costs, recruitment and retention of staff, and wage inflation.

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Energy crisis

ESG for SMEs: Make energy saving in your business

Article
19 Sep 2023

ICAEW is supporting the Department of Energy Security and Net Zero in its campaign promoting energy efficiency. We take a look at what businesses can do to drive down energy bills and boost savings.

ESG for SMEs: how to mitigate energy costs

Article
11 Sep 2023

The sharp rises in energy costs have been highly damaging for businesses. We explore how firms can reduce these outgoings and the related risks without necessarily making large investments.

Energy Bills Discount Scheme: details and eligibility

Article
10 Jan 2023

The Energy Bills Discount Scheme (EBDS) will continue energy bill support for businesses until 31 March 2024, but at a reduced rate.

Inflation

Supply chain

ESG for SMEs: future proofing supply chains

Article
08 Sep 2023

The impacts that environmental, social and governance issues can have on supply chains is stark, but if SMEs don’t comply with new ESG rules they could also risk their entire business.

How to assess the risks within your supply chains

Article
11 Oct 2022

Advances in digitisation are great for businesses, but they’re also helping organisations to review their supply chains and identify the potential risks from cyber attacks.

Supply chain challenges: where are we now?

Article
26 Sep 2022

How are businesses coping with persistent, global supply chain issues – and which concerns are looming on the horizon?

Sanctions evolution may cause inadvertent breaches

Article
01 Aug 2022

The ongoing evolution of sanctions across multiple jurisdictions and the complexity of global supply chains mean that organisations could unwittingly find themselves in breach of sanctions rules.

The challenges and opportunities in supply chain finance

Article
24 Jun 2022

The Managing Director for Standard Chartered (Hong Kong) and Chairman of the British Chamber of Commerce in Hong Kong outlines the trends in global trade.

Ukraine crisis: the supply chain impacts

Article
25 Mar 2022

The conflict in Ukraine has created a number of challenges for manufacturers, from rising prices and availability of raw materials to keeping abreast of the latest sanctions.

Access to finance

How SMEs can access transition funding

Article
28 Nov 2023

Many existing products for SMEs are taking net zero and climate plans into account.

How SMEs should optimise their cash savings

Article
21 Nov 2023

Enterprises have too much spare cash sitting in low- or no-interest accounts, according to a new report. What other options could help SME owners make the most of their reserves?

Access to finance: high hurdles for SMEs

Article
26 May 2023

A combination of factors are hindering SMEs’ ability to access finance.

Access to finance: alternatives to high street banks

Article
25 May 2023

Traditional banks’ enthusiasm for business lending may be muted, but at a time when the UK economy is hungry for growth, there are still other finance options for companies to explore.

Tax

Autumn Statement: the tax changes that didn’t make the headlines

Article
29 Nov 2023

ICAEW’s Tax Faculty scans the Autumn Statement documents for other tax-related announcements. Various tax measures can be found in the Overview of tax legislation and rates, the Autumn Statement, and updated Tax information and impact notes.

Expansion of cash basis for unincorporated businesses

Article
22 Nov 2023

The government has published the summary of responses to a consultation on the cash basis alongside the Autumn Statement. This announces relaxations that will allow more businesses to use this basis of taxation from 6 April 2024.

NIC rate cuts for self-employed and employees

Article
22 Nov 2023

National insurance contributions (NIC) will be reduced to 8% for the self-employed and to 10% for employees, and the flat rate class 2 NIC will be abolished for most self-employed, the chancellor has announced.

HMRC provides update on forthcoming Single Trade Window

Article
21 Nov 2023

The first phase of the service to make border processes simpler will be available for public use in 2024.

Incentives, allowances and support

Chancellor confirms full expensing will be permanent

Article
22 Nov 2023

The full expensing regime will not expire on 31 March 2026 and will be made permanent, the Chancellor announced at the Autumn Statement on 22 November 2023.

R&D tax relief merger to go ahead despite concerns

Article
22 Nov 2023

Jeremy Hunt has confirmed in the Autumn Statement that the two existing research and development tax relief schemes will merge with effect for accounting periods from 1 April 2024.

Extension of investment zone and freeport tax reliefs in England

Article
21 Nov 2023

Ahead of the Autumn Statement, the government has announced that the investment zone and freeport tax reliefs will be extended from five to 10 years.

Commission unveils relief package for EU SMEs

Article
19 Sep 2023

Plans for new late payments regulation and Head Office Tax System lead the way, as the European Commission sets out measures to help SMEs manage a range of economic challenges.

Help to Grow website unveiled to support businesses

Article
06 Mar 2023

The Department for Business and Trade (DBT) launches a new centralised website, Help to Grow.

Government to extend small company threshold

Article
04 Oct 2022

UK government announces extension of definition of small business for regulatory purposes to those with up to 500 employees.

Cash flow and forecasting

The pros and cons of using credit cards for cash flow

Article
15 Nov 2023

As a new report shows that plastic is proving increasingly popular among UK SME business owners, we highlight the benefits it can unlock – and the pitfalls to avoid.

Mid-market businesses cutting costs at pace

Article
26 Sep 2023

Companies are tightening their belts as cost pressures increase but business retains optimism for the near future.

Leading through a crisis to emerge stronger

Article
28 Feb 2023

With the right approach, it is possible to emerge stronger than ever from a crisis, says Kevin Gaskell, who shares his steps to success.

Business planning in a time of uncertainty

Article
24 Feb 2023

With financial and economic upheaval a regular fixture on the business landscape, and with uncertainty rife, how should businesses approach forward planning?

Workforce and recruitment

How to build a workforce of the future

Podcast
27 Oct 2023

In this Insights In Focus episode, we explore strategies to expand and upskill Britain’s workforce.

The UK's skills gap and what’s gone wrong

Article
17 Oct 2023

For a generation, a shortage of skills has undermined business confidence, investment, and productivity across the UK, and so limited economic growth and left us more exposed to inflation shocks. Here, we look at what’s causing this shortage and, in the next article, ideas for addressing it.

How to close the UK’s skills gap

Article
17 Oct 2023

Addressing the UK’s labour supply and skills gap is no easy task, but policymakers, business, and the chartered accountants that advise them have a key role to play.

Helping employees through the cost-of-living crisis

Article
13 Oct 2023

Many employees are struggling with the ongoing cost-of-living situation and the knock-on effects of this at work are cause for concern. How can employers offer their staff practical support?

Cost-of-living crisis prompts accountants’ job concerns

Article
05 Dec 2022

One in five chartered accountants says cost-of-living crisis is hindering career progression, with concerns about job losses also rife, research finds.

Cost-effective solutions for attracting and retaining talent

Article
26 Oct 2022

Forget traditional pay rises, organisations have a range of far more thoughtful tools at their disposal to show that they are great to work for.

Impact on business sectors

Are small retailers drowning in business rates?

Article
10 Jul 2023

Retail was one of the industries hit hardest in recent years due to myriad changes, and they’re still struggling. Is regulation holding them back?

10 tips for goods import and export

Article
21 Mar 2023

Since the UK left the EU on 31 December 2020, more businesses are required to classify movements of goods as imports and exports. Ruth Corkin and Ed Saltmarsh set out advice for businesses.

What do early-year retail redundancies mean for the sector in 2023?

Article
13 Mar 2023

Thousands of UK retail workers lost their jobs in the first two months of the year – what are the prospects for the sector as a whole for the rest of this year?

What’s in store for the high street?

Article
05 Jan 2023

As retail suffers in the face of daunting headwinds, what will become of the sector’s physical trading avenues in the near and long term?

Business and industry press

The ICAEW Library & Information Service provides access to leading business, finance and management journals. These journals are available to logged-in ICAEW members, ACA students and other entitled users subject to suppliers' terms of use.

Exclusive Planning in a recession

Article
01 Apr 2023
Rene Ho
Strategic Finance

Companies need to future-proof their business as they transition from pandemic-related supply chain issues to a potential recession - and the radically different economy that may lie beyond, says Rene Ho. The article covers key tried-and-tested best practices for businesses to take when navigating through tough times.

Exclusive Navigating the perfect storm

Article
01 Oct 2022
Marcine Johnson
Strategic Finance

Businesses have faced many unforeseen issues for the past few years and survived. Now all sectors of business face a new challenge: inflation. Marcine Johnson suggests some strategies to help small businesses cope with the evolving circumstances.

Exclusive Armanino LLP advises businesses on planning for recession

Article
08 Sep 2022
Michael Cohn
Accounting Today

Advice from business consulting firm Armanino on how to reduce costs without making desperately needed employees redundant. The firm advises clients to look at internal metrics such as cash flow, revenue per employee, average days to close new business and accounts receivable payments.

External resources

Guide to building business resilience

Website
01 Jan 2023

Our Guide to building business resilience contains impartial, practical, and actionable information and support to help smaller businesses manage their costs, boost their long-term profitability, and increase their resilience.

FSB Finance Hub

Website
29 Sep 2022

Expert resources and guides to help you manage your small business finances, curated by the Federation of Small Businesses (FSB). The hub includes articles, videos and downloadable guides from industry experts across areas like banking, business credit scores, saving for retirement and protecting your bottom line.

Seven strategies to survive the inflationary storm

Website
02 Sep 2022

Advice on how small UK businesses can protect themselves during times of high inflation, including: looking for new customer segments, raising prices, building supplies up now, cutting overheads, enhancing productivity, auditing profit margins and automation.

Six strategies to help your company weather inflation

Website
28 Sep 2021

Successful companies use six tactics to achieve growing their revenue during high inflation, say the authors. They look at these tactics one by one, including achieving high understanding of your spending and eliminating unnecessary work to focus only on activities that add the most value and are absolutely necessary.

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