Entrepreneur speaks out on NI changes, business launches and events
November monthly briefing
Hello and welcome to November’s ‘monthly briefing’!
We have an interesting one this month featuring a fantastic interview with a local entrepreneur and a roundup of things happening in the area.
Here’s what’s coming up in this edition…
Business owner reacts to Labour’s National Insurance policy change
Free business advice event this weekend
What’s happening in the New Forest right now
Bumper list of free (and Christmas!) business events
And if you would like to see your story featured, please share your news with editor@newforestbusinessnews.co.uk.
Kerri L Watt
Editor
Business owner reacts to Labour’s National Insurance policy change
Claire Knowlton, Director of Biz Box UK in Hythe, has voiced strong concerns about Labour's approach to National Insurance (NI) costs, highlighting the potential negative impacts on small businesses and the wider economy.
According to Knowlton, the party's stance on NI could lead to “unintended consequences” that further burden entrepreneurs while failing to address the broader financial challenges facing the country.
"Business owners are taking the brunt of National Insurance increases," Knowlton told us. "Labour stated they wouldn’t raise employee National Insurance rates, but the reality is they’re shifting the burden onto business owners.”
“The fact that 51% of businesses are small enterprises, many of which don't have large cash reserves, means they’re unable to absorb these additional NI costs."
Knowlton’s comments reflect a growing concern among small business owners facing the challenge of rising operational costs and a government policy that, she argues, “may not be as supportive as it seems”.
Labour's promise not to increase employee National Insurance may be a relief, but Knowlton suggests it could lead to other problematic shifts, including the incentivising of companies to hire freelancers instead of employees.
"I can’t employ anyone now, it's just not financially sustainable. Everyone I hire is a contractor, and that’s a real shame.
Claire Knowlton, Biz Box UK
"Freelancers are more favourable for employers because they don’t come with the same overheads, but this leaves freelancers without the security of employer-paid tax contributions.
"It’s a lose-lose situation. The government may face losing money as a result, and larger businesses like supermarkets will need to hike prices, making everyday goods more expensive."
The ripple effect of such policies, Knowlton suggests, is a potential increase in the cost of living for the average consumer, as businesses pass on the rising costs to their customers. This, she argues, undermines the initial promises of a more affordable lifestyle.
"At the end of the day, it’s all about optics," the entrepreneur continued. "Politicians are saying what people want to hear, but it’s not rooted in what will actually improve the country’s financial stability or address the real issues. They’re making decisions based on what will get votes, not what will genuinely help us."
For Knowlton, the changing dynamics of employment have become a personal issue as well. Once employing 15 staff members, she has been forced to scale back her business to remain viable.
"I can’t employ anyone now," she said. "It's just not financially sustainable. Everyone I hire is a contractor, and that’s a real shame.
“When I started, I had a growing team, but now I’ve had to reduce it. The cost of employing people has simply become unaffordable."
“When I started, I had a growing team, but now I’ve had to reduce it. The cost of employing people has simply become unaffordable."
Claire Knowlton, Biz Box UK
In the face of these pressures, Knowlton believes that Labour’s policies are symptomatic of a wider disconnect between government and the realities faced by entrepreneurs.
"Freelancers are self-employed, so they don’t have the benefit of employer-paid taxes," Knowlton explained. "The government's plan is unrealistic and shows just how out of touch they are with the real world we live in."
As the debate over National Insurance and business taxation continues, it seems small business owners like Knowlton feel they are being caught in the crossfire of political promises that do little to alleviate the very real challenges of running a business in today's economic climate.
For more on the recent Autumn Budget read this…
Free business development, marketing, social media and PR advice at launch event this Saturday
NFBN Editor Kerri L Watt is a special guest at the launch of “Mums Mean Business” event this weekend.
An opportunity for businesses old or new to come and meet founders Claire Knowlton (featured above) and Chernice Thompson, grab a glass of bubbly and enjoy free marketing, business, social media and PR advice.
Saturday November 16, 12-2pm (free)
13 Marsh Parade, Hythe, SO45 6AN
Drop in for free or for more info: www.facebook.com/events/553303950635399
What’s happened in the New Forest lately
ExxonMobil Fawley donated £52,000 to support hundreds of Hampshire students in science, technology, engineering and maths education including some New Forest primary and secondary schools.
A story about an 88-year-old woman killed by a cow while walking her dog made national headlines.
Southern Water £2.5m improvement project at Boldre is now complete (part of a £30m improvements in the New Forest).
Oakhaven Hospice were on BBC South Today sharing concerns over finding an additional £300,000 a year after government changes announced in the Autumn Budget.
Attempted kidnap of a woman in Lyndhurst last weekend, Hampshire Police are still investigating.
The Green Gram in Fordingbridge celebrated the first anniversary in their new premises.
New Forest Prepares for Annual 'Eats 'n' Treats' Event
The New Forest is gearing up for its annual 'Eats 'n' Treats' Christmas shopping and entertainment event on November 17, 11am-4pm at Brockenhurst College.
The event aims to support local businesses and provide visitors with unique holiday shopping opportunities, featuring a range of food stalls, crafts, and entertainment suitable for all ages.
Organised in association with Go New Forest and New Forest Marque, the event promises a festive atmosphere with a variety of local vendors and artisans.
Among the participants is The Fabulous Catch Company, recent winners of Channel 4's 'Aldi’s Next Big Thing,' who will showcase their products to attendees.
For more info: www.thenewforest.co.uk/blog/post/new-forest-eats-n-treats-2024
Upcoming business (and Christmas!) events
New Forest Business Partnership
14 November, 9am-12.30pm. Business skills workshop on AI. Balmer Lawn Hotel, Brockenhurst.Mums Mean Business launch event
16 November, 12-2pm. Free business advice and networking to launch company. Free. 13 Marsh Parade, Hythe. Drop in or click here for more info.Total Business Network
21 November, 9-10.30am. Online networking. £0-10. Click to book.Lymington Chamber of Commerce
21 November, 7.15am. Breakfast networking. Lanes of Lymington. £17.50. Click to book.New Forest Business Partnership
28 November, 5-11pm. ‘Brilliance in Business Awards 2024’. Brockenhurst College. £35-70. Click to book.New Forest Business Partnership
03 December, 9.30-11.30am. Marketing masterclass on Google Ads. Burley Manor Hotel. £19. Click to book.New Forest Business Partnership
10 December, 5-7pm. Christmas drinks and ‘LinkedIn Local’. Palace House, Beaulieu. £25. Click to book.Total Business Network
12 December, 12.30-3.30pm. Christmas lunch and networking. Beaulieu Inn. £50-60. Click to book.Lymington Chamber of Commerce
19 December, 7.30pm. Christmas party. Lanes of Lymington. £45. Click to book.Oakhaven Business Club
21 January, 10am-12pm. Coffee and cake networking plus guest speaker. Rhinefield House Hotel, Brockenhurst. £12.50. Click to book.Oakhaven Business Club
27 February, 10am-12pm. Coffee and cake networking plus guest speaker. Rhinefield House Hotel, Brockenhurst. £12.50. Click to book.
