Barrier to SME growth revealed, new stores and early tax returns (plus election build up)
June’s ‘monthly briefing’ with New Forest Business News.
Hello and welcome to June’s monthly briefing, bringing you all things business from the New Forest.
I don’t know how you feel about the general election, but I can’t wait! I’ve already blocked a few days out in my diary, in anticipation for a LONG night.
I’ll be reporting live through the day (and in the press room for the night!) so hit subscribe below or be sure to follow @KerriLWatt on X (Twitter) for the latest New Forest election updates on the day…
Coming up in this edition…
New survey reveals the barriers to small business growth
‘New Forest Family Butchers’ launch success in Lyndhurst
New Forest Show announces Britain’s Got Talent act appearance
300,000 file tax return in first week of tax year
Upcoming business events and networking
And, if you missed it, here’s the latest standalone article…
Kerri L Watt
Editor
New survey reveals the barriers to small business growth
A new survey by PayPal* has revealed 64% of Britain’s small business owners report to have not expanded in the last three years.
The study also revealed 61% of participants' top goal for 2024 was to “bring in more money”.
Andy Pringle, Business Support Manager at Incuhive, said: “The conclusion that most businesses are focussed on bringing in more income ties in with what we are seeing and hearing locally.”
“Recent increases in labour costs, utility bills, and interest rates have forced business owners to raise prices and therefore fight harder to boost sales.
Almost half (43%) admit that a lack of technical experience is the main barrier for growth followed by the challenging economic climate at 38%.
Pringle told New Forest Business News: “A lack of confidence and ongoing economic uncertainty casts significant shadows, leading to more cautious decision-making.”
Nearly half of UK small businesses believe they will not grow over the next two years and 51% say that setting up their business has been harder than expected.
Read the full report: https://newsroom.uk.paypal-corp/UK
*Survey conducted for PayPal with sample of 500 UK SMEs in April 2024.
‘New Forest Family Butchers’ launch success in Lyndhurst
Lyndhurst residents have welcomed ‘New Forest Family Butchers’ since launching in May saying they have “missed having a traditional butcher” on the high street.
Ellie Steel, Co-Owner, said: “Before we even opened the store, we had cards posted from other local businesses we have never met to welcome us to the village.
“Getting such positive feedback has helped owner Chris and the team want to make the shop a success. Chris wants all our customers to feel welcome and so we’re focusing on this and continuing to build relationships and trust within the community.”
For more information: https://nffbutchers.co.uk.
Almost 300,000 file tax return in first week of tax year
Many wait for the January deadline, but this year saw 295,250 tax returns completed in the first week of the tax year in April, a 50,000 increase from 2023.
Almost 70,000 (23%) of these were filed on the first possible day, April 6.
HMRC reports more customers are choosing to do their self-assessments earlier to avoid last-minute stress and set up tax bill payment plans.
Want to be quoted in NFBN?
I’m looking for local business owners and employees to have their say on the general election - why are you voting the way you will, and how the result could affect your business.
Also, how the Cost-of-Living crisis has impacted your job or business.
Email your thoughts to editor@newforestbusinessnews.co.uk.
The New Forest Show announces Britain’s Got Talent act appearance
The New Forest Show remains a prominent event in the summer calendar and the 2024 event is set to be as fabulous as ever.
Britain’s Got Talent semi-finalists ‘Bolddog FMX’ stunt team have been confirmed to perform and 95,000 people are expected to visit across the three-day event.
The New Forest Show is from July 30 to August 1 at the Showground, New Park, Brockenhurst.
For more information or to book tickets: www.newforestshow.co.uk.
Fordingbridge women raise £2,000 in London Moonwalk
Five businesswomen from Fordingbridge have raised £2,000 for a breast cancer charity in the London Moonwalk.
The team ‘Fordingbridge Fillies’ was formed from Helen Pilling from Pilgrims Veterinary Practice, Michelle Calais from Fordingbridge Bookshop, Penny Sheppard from Nearly New Beginnings, Nicky Rudd from Padua Communications and Karen Gorman from Fordingbridge Federation.
For more information and to donate: https://giving.give-star.com.
Upcoming business events
Oakhaven Business Club
11 June, 9.30-11.30am. “Walk and work” networking. The Filly, Brockenhurst. £15. Click to book.New Forest Business Partnership.
11 June, 5.00-7.00pm Summer garden party. Pylewell Park, Lymington. 11 June £35. Click to book.Oakhaven Business Club
13 June, 5.00-7.00pm. Drinks on private yacht. £20. Click to book.Incuhive’s “The Bees Nest” pitching event. Lyndhurst Community Center, Lyndhurst. 26 June, 9.30am-12.30pm. Free. Click to book as attendee, exhibit or pitch.
Lymington Chamber of Commerce
27 June, 7.15am. Annual general meeting. Lymington Community Centre. £20. Click to book.Small Business Growth Day
27 June, 9.30am-4.00pm. CPD event by Solent Business & Skills Solutions. Fareham College. Free. Click to book.LinkedIn Local
09 July, 5.00-7.00pm. Pizza and prosecco networking party. £22. Click to book.