Category: Enterpreneurship

After an wave of special purpose acquisition companies, known as Spacs, the tide appears to be turning, with some of the highest-profile examples now under pressure

Spacs — or blank-cheque funds — are shell companies that raise money via initial public offerings before listing on a stock exchange. Then they search for an acquisition, typically a private company. Once a deal is finalised, the Spac takes its target public by absorbing it and its investors take a slice of the new company. If no deal is done, the fund is liquidated and investors are refunded.

Two months ago shares in Sir Richard Branson’s VG Acquisition Corp surged to $17.65 when it announced its merger with 23andme, a genetic testing firm. It has since fallen by 42 per cent to $10.20.

Shares in Churchill Capital Corp IV have halved since its combination with Lucid Motors, an electric carmaker, was announced on … Read the rest

More than half of contractors don’t believe their end-client is ready for IR35, despite there being just one week before the deadline.

In its survey of IR35 experts also found that contracting professionals felt they were more ready for the changes themselves, with 73% of respondents stating that they felt prepared or somewhat prepared for the upcoming IR35 reform.

The data did reveal some worrying trends that could impact the availability of contract talent in the immediate future. Overall, 69% of contractors said that if they were deemed inside IR35 they would either leave or charge a higher fee, with just 14% stating that they would accept an inside IR35 decision.

This potential exodus of contractors from talent pools is further exacerbated by the struggles this group have faced over the last year. According to research conducted by specialist insurance broker Kingsbridge, a staggering 70% of contractors have gone without … Read the rest

A veteran mentor diagnosed as autistic at the age of 54 who says it makes him a better businessman is publishing his new book.

As National Autism Month gets under way, Jon McCulloch is sharing his expertise to help men and women in construction and the trades supercharge their businesses and profits.

Jon, now 56, also widely known as the Evil Bald Genius, is the author of Get Off the Tools – The Smart Tradesman’s Business Bible, published in World

Described as a blueprint to help change the way you think about your business, the book focuses on Jon’s renowned Trades Accelerator Model.

Jon, who blogs about autism at Unapologetically Autistic has made his work available in print and online.

In it, he rails against “snowflakes” and offers a straightforward plan to financial success – for different types of self-employed tradesmen he dubs wallowers, followers, fighters, and flyers.

He says:” … Read the rest

Google Maps will start directing drivers to routes it calculates to be the most eco-friendly based on a list of factors.

The search engine said it will highlight journeys that generate the lowest carbon footprint using mainly traffic data and road inclines.

Google said the feature would launch first in the US later this year “with a global expansion on the way”.

The new feature is part of its commitment to fight climate change.

When launched, the default route on the Google Maps app will be the “eco-friendly” option, unless users choose to opt out of it.

When alternative routes are significantly faster, Google will offer choices and let users compare estimated emissions.

“What we are seeing is for around half of routes, we are able to find an option more eco-friendly with minimal or no time-cost trade-off,” Russell Dicker, a director of product at Google said.

The search engine, … Read the rest

It’s a seemingly silent killer of mood and health. As Stress Awareness Month begins on the 1st April, often regulated to business owners, even PAYE employees have had to live with uncertainty of whether they will be paid at the end of each month.

Over the course of a full year dealing with Covid-19, the sheer amount of cortisol, the hormone released when you are stressed, likely reached dangerous levels within most of the UK’s population. This can have adverse affects on memory function, sleep and overall health – both mental and physical.

Stress at work has been difficult to separate from stress at home. Social isolation and anxiety have also taken a huge toll: enquiries to private healthcare services about depression were 42% higher in January 2021 than in January 2020, with a 21% increase in enquiries about anxiety disorders over the same period.

Dr Ian Nnatu, a consultant … Read the rest

The US is threatening to impose tariffs of up to 25 per cent on some UK exports as it retaliates over Britain’s new ‘unreasonable’ and ‘discriminatory’ tax on big tech firms.

The UK introduced a digital services tax last April in a bid to ensure search engines, social media platforms and online marketplaces pay their fair share.

But Washington believes the tax unfairly targets US firms and it is now pressing ahead with counter-measures as it applies the pressure to Number 10 to change course.

The increased tariffs on UK exports could be imposed on items like make-up, coats, dresses, shirts, ceramics, gold necklaces, air conditioning machines, furniture and game consoles.

The US is threatening to impose tariffs of up to 25 per cent on some UK exports as it retaliates over Britain’s new ‘unreasonable’ and ‘discriminatory’ tax on big tech firms

The UK’s digital services tax, first unveiled back … Read the rest

As we reach the end of the first quarter of the year, it is time to wrap up this quarter impactfully: a time to pause and consolidate your learning before jumping into the next quarter and onwards.

I’m results-driven, and there is nothing more that I love than helping you reach your results. In my newly published Lead Beyond The Edge book, this is exactly what I do, and here I’ve put together a 3-step plan to guide you to wrap up this quarter, and indeed, every quarter after that, impactfully, so that you can start the next quarter strong.

1.1 PLAN to REFLECT

Where you are today is the direct reflection of the thoughts, decisions, and actions you took days, months and years ago, which actually means that where you will be tomorrow will be a direct reflection of the thoughts, decisions, and actions you are about to take … Read the rest

Camera retailer Jessops is to appoint administrators for the second time in little more than a year, in a move that puts 120 jobs at risk.

The business, controlled by Dragons’ Den panellist Peter Jones, said it had filed a notice to appoint administrators after being hit hard by lockdown restrictions. The filing temporarily shields Jessops from creditors and gives it breathing space to find a way for the business to carry on, the company said.

The chain, which Jones’s PJ Investment Group bought out of administration in 2013, has been whittled down to just 17 shops. More than half its stores closed after it hit trouble in 2019.

Jessops is considering a company voluntary arrangement (CVA) – an insolvency process that would enable it to cut its rents. It is also in talks with suppliers and partners. PJ Investment Group is offering to provide additional financial support if management … Read the rest

The chancellor has warned bosses that staff may quit if they are not allowed to work from the office as the UK emerges from lockdown.

Rishi Sunak told the Telegraph that employees would “vote with their feet” and could consider leaving for a rival if made to work from home full time.

A number of companies have announced plans to close offices prompting fears for city centres.

But now the chancellor has urged firms not to abandon the office altogether.

Mr Sunak told the newspaper that home working is no substitute for an office environment with “people riffing off each other”.

“You can’t beat the spontaneity, the team building, the culture that you create in a firm or an organisation from people actually spending physical time together,” he said.

The chancellor argued that an office environment was particularly important for younger workers looking to understand how a company works.

He … Read the rest

The latest annual Salary and Market Trends Survey by Association for Project Management (APM), the chartered body for the project profession, reveals the average salary for a project professional is £47,500.

This average salary has remained unchanged for the past year, bearing testament to the enduring strength and broad appeal of the profession, despite the challenges of the coronavirus pandemic and Brexit throwing many plans and projects into doubt.

The research, in partnership with YouGov, surveyed 2,626 project professionals across the UK, drawing insights from across the profession, including salary (by region, sector and job role), job satisfaction, future trends, diversity and inclusion. The findings reveal that almost half (49 per cent) of professionals now earn over £50,000; up from 42 per cent last year. Further up the pay-scale, 20 per cent of professionals now earn over £70,000; an increase from 16 per cent.

APM’s study also highlights that salaries … Read the rest