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Small and micro business: news and insights

Interviews, reflections and commentary on key issues affecting small and micro businesses.
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Latest news and insights

UK government ploughs ahead with late payments Bill
  • Article
  • 21 May 2026
Following its inclusion in the King’s Speech, the Small Business Protections Bill is one of the first to be put before parliament, including a cap on payment terms and new powers for the Small Business Commissioner.
A hand holding a magnifying glass looking at some papers
Five adjustments to make when auditing SMEs
  • Article
  • 30 Apr 2026
Applying International Standards on Auditing (ISAs) to small and medium-sized enterprise (SME) audits can be challenging. These firms highlight the key considerations for auditors.
Two people looking at the laptop having a conversation
Four cost management essentials for retailers
  • Article
  • 27 Apr 2026
SMEs are currently under enormous pressure from multiple sources, but savvy businesses can ease the pain.
A hand holding a magnifying glass looking at some papers
How SMEs should prepare for audits
  • Article
  • 20 Apr 2026
For SMEs falling outside the scope of audit exemption – either because their annual turnover, assets or number of employers are above the threshold – the process of undergoing an audit can be daunting. Find out how to effectively prepare to ensure it goes as efficiently as possible.
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Corporate reporting and audit

Five adjustments to make when auditing SMEs
  • Article
  • 30 Apr 2026
Applying International Standards on Auditing (ISAs) to small and medium-sized enterprise (SME) audits can be challenging. These firms highlight the key considerations for auditors.
How SMEs should prepare for audits
  • Article
  • 20 Apr 2026
For SMEs falling outside the scope of audit exemption – either because their annual turnover, assets or number of employers are above the threshold – the process of undergoing an audit can be daunting. Find out how to effectively prepare to ensure it goes as efficiently as possible.
FRC sets up SME forum for FRS 102 preparers
  • Article
  • 15 Apr 2026
The Financial Reporting Council’s new discussion forum will give SME stakeholders the opportunity to share their experiences of applying FRS 102 to corporate reports.
Re-consultation on ISA 250: has FRC listened to concerns?
  • Article
  • 09 Apr 2026
Three years after first consulting on revisions to ISA 250, the Financial Reporting Council is re-consulting on a re-worded version of the proposed changes. The original consultation raised many concerns within the profession, have they been addressed effectively?

Finance

UK government ploughs ahead with late payments Bill
  • Article
  • 21 May 2026
Following its inclusion in the King’s Speech, the Small Business Protections Bill is one of the first to be put before parliament, including a cap on payment terms and new powers for the Small Business Commissioner.
Four cost management essentials for retailers
  • Article
  • 27 Apr 2026
SMEs are currently under enormous pressure from multiple sources, but savvy businesses can ease the pain.
Fines for persistent late payers under new rules
  • Article
  • 25 Mar 2026
Following years of campaigning from ICAEW, the UK government has announced new powers for the Small Business Commissioner to investigate, adjudicate on and issue fines for cases of late payments.
Roadshow: Blue skies ahead
  • Article
  • 02 Mar 2026
Almost two decades on from the global financial crisis, Scotland’s big energy deals have signalled a return to form. With a strong pipeline of start-ups and high-quality mid-market businesses lined up for investment, it’s later-stage capital that is in high demand. By Nicholas Neveling.

Management and strategy

Four cost management essentials for retailers
  • Article
  • 27 Apr 2026
SMEs are currently under enormous pressure from multiple sources, but savvy businesses can ease the pain.
How to value intellectual property assets
  • Article
  • 14 Apr 2026
For small businesses in creative industries, building a credible narrative that charts the lifecycle of intellectual property assets from the start is essential for making a compelling case for investors. Find out where to start.
Editor’s letter: Beyond the pale ale
  • Article
  • 30 Mar 2026
At the start of last year, James Watt, co-founder of BrewDog (with the sensibly more publicity-shy Martin Dickie), announced he was launching House of Unicorns, a reality show for start-ups with a £2m investment prize. It would be like Dragons’ Den, but for entrepreneurs identifying as punks.
Scottish Manifesto: key actions for growth
  • Article
  • 30 Mar 2026
ICAEW Scotland has sent a list of recommendations to Scotland’s parliament in its Scottish Manifesto, outlining the major steps needed to improve conditions for businesses. Its suggestions have relevancy beyond the region.

Sustainability

Four ways this SME manufacturer protected itself from volatility
  • Article
  • 25 Mar 2026
Michael Smith Switchgear Limited insulated itself from energy and supply chain issues through an approach to sustainability that permeates every aspect of its business – meeting industry net zero targets and catching the attention of King Charles.
2026: Changes to accounting standards and more
  • Article
  • 01 Jan 2026
Whether you prepare accounts under UK GAAP or IFRS Accounting Standards, 2026 will bring new standards that accountants in business and practice need to prepare for. Plus, the UK government will be conducting a holistic review of the entire annual report.
How to start discussions with clients about nature
  • Article
  • 13 May 2025
Myfanwy Neville, BKL’s Head of Sustainability and ESG, shares tips on how to talk to clients and internal teams about the risks and opportunities associated with nature.
Exclusive Insights from FSB report on climate related vulnerabilities
  • Article
  • 17 Jan 2025
The Financial Stability Board (FSB) has released an important report titled Assessment of Climate-related Vulnerabilities: Analytical Framework and Toolkit,.

Tax

Give your views on the tax issues facing small businesses
  • Article
  • 15 Apr 2026
Small businesses and agents can provide feedback on a range of areas, including Making Tax Digital (MTD) for income tax, by completing the Administrative Burdens Advisory Board’s (ABAB) annual survey.
Support entrepreneurship through stability in the tax system, says ICAEW
  • Article
  • 02 Mar 2026
Responding to the government’s call for evidence on tax support for entrepreneurs, ICAEW has called for a stable tax framework and targeted technical changes to strengthen key tax incentives and to encourage investment.
Exclusive Your Valuation Community: what’s coming up this year?
  • Article
  • 27 Feb 2026
With a strong finish to 2025, here’s what is to look forward to in the year ahead.
Prepare for 2026/27: Individuals
  • Article
  • 16 Feb 2026
ICAEW’s Tax Faculty provides a summary of some of the key changes affecting individuals from 6 April 2026, including increases to some of the rates of income tax and capital gains tax (CGT), as well as reforms to inheritance tax (IHT).

Useful links

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Latest Business news from Insights
  • Hub page
Read the latest business articles published in ICAEW's Insights hub.
Doing business in the Middle East
  • Hub page
Support for finance practitioners doing business in the Middle East, including insights on the implications of the geo-political situation for local and UK businesses.
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Ukraine hub
  • Hub page
Visit our Ukraine hub for the latest on sanctions, ethical guidance and reputational risk.
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