George Osbourne, the Chancellor of the Exchequer, announced in his most recent 2016 Budget new changes to the way dividends are to be taxed and will be introduced for the new tax year 2016/17. A dividend, that is a payment made to a company’s shareholders out of said company’s profits, are being taxed in a new way to benefit the overwhelming majority of the UK population with what the government says is a much simpler system. However, some will be worse off under these new rules, and we look below at just what the impending dividend changes mean for businesses and individuals in the new tax year.

What’s Being Changed?

As of April 2016 the dividend tax credit that has previously been in place is being abolished, instead being replaced by an annual £5,000 tax-free Dividend Allowance, which will be subject to personal income limits.

Alongside this, there will also be three tax bands affecting how much you take away with your dividends after tax. The previous dividend tax rates looked like this:

• Basic Rate (income at or below £42,385) – 10% (0% after tax credit deductions)
• Higher Rate (income of £42,386 – £150,000) – 5% (25% after tax credit deductions)
• Top Rate (income above £150,000) – 5% (30.6% after tax credit deductions)

Previously, a company would pay corporation tax on the dividends and then individuals would, after taking a salary equivalent to the personal allowance, be left to take the remainder with zero tax up to the higher rate threshold as can be seen above. Now, altering the salary and paying the 20% corporation tax, the dividend is only free up to the first £5,000, with the new rates being changed to:

• Basic Rate – 7.5%
• Higher Rate – 32.5%
• Top Rate – 38.1%

 The table below shows examples of how you would be affected under the new system:

Dividend Income	Dividend Tax 2016/17	Dividend Tax 2015/16	Variance
£15,000	£750	£ –	£750
£25,000	£1,500	£ –	£1,500
£50,000	£7,875	£5,348	£2,527
£75,000	£16,000	£11,598	£4,402
£100,000	£25,500	£20,233	£5,267
£125,000	£35,000	£26,483	£8,517
£150,000	£43,741	£34,097	£9,644
£175,000	£53,266	£41,736	£11,530
£200,000	£62,791	£49,374	£13,417

Source: Wellers Accountants

 The Advantages To The New Changes

Osbourne has said that to receive a dividend of over £5,000 from a shareholding, you would need to have invested over £140,000 in that particular business; clearly a large sum and the amount of people that fall into this bracket is relatively small, and so the new dividend changes should affect only a small majority.

Alongside this, the tax free personal allowance is being raised to £11,000 in April 2016, and £11,500 in April 2017, and the higher rate threshold is being raised to £43,000; benefits that in some way negate the new changes to dividend taxation for some.

The Disadvantages To The New Changes

However, it appears that the new dividend taxation changes also bring with them several disadvantages. Firstly, it may have an effect on sole traders who look to incorporate their businesses and investments by combining their dividends and salary as the overall amount they earn will rise, leaving them exposed to the higher rate of tax.

Along these same lines, these changes are most likely to affect those who have a small pension or non-dividend income and who receive much of their income through shares. This means individuals may want to think about switching their income to capital-growth-focused investments as opposed to dividends, although this approach may not work for basic-rate taxpayers who would pay 10% on growth as opposed to 7.5% on dividend income above £5,000, whereas it would be 20% compared to 32.5% respectively for higher rate earners.

Higher rate taxpayers who receive over £21,666 a year in dividends will be affected for the worse by the new changes, as will any top rate taxpayers who earns over £25,250 a year. However, if individuals who fall into the higher or top rate of tax take less than £5,000 a year in dividends, they will be better off under the new system.

The Chancellor has estimated that it will generate tax revenues of roughly £500million per year by 2019, and some believe it has been done as an attack on “Tax Motivated Incorporation”. These changes have not been set in stone yet, and are currently under review. However, they are looking highly likely, and it is important that both businesses and individuals review their current situation and prepare appropriately to evaluate their options before the end of the current tax year. Some believe the new Dividend Tax will negatively affect small businesses, and a petition has been launched on the issue asking the government to reconsider.

Recently the Telegraph published an article stating that 90 percent of savers have no idea what a savings allowance is, leading them to ask “does anybody understand what’s going on?” with the new announcements in the Budget 2016. Anna Bowes, co-founder of Savings Champion, says that “the concern is that with too much choice, savers will end up making uninformed decisions, or worse, do nothing and leave their funds languishing in the bank.” The message here is to ensure you read up on the new changes announced in the Budget 2016, and be sure to use tools like The Telegraph’s Tax Calculator to work out which route is best for you to take.

You’ve heard the old Benjamin Franklin adage: “In this world nothing can be said to be certain, except death and taxes.” This most certainly applies to your personal life, but sometimes it can be easy to neglect your tax requirements if you are the owner of an SME (small to medium sized business).

We regularly see news stories highlighted in the media about mega corporations and translational enterprises receiving what appear to be massive tax breaks – and even getting away with paying nothing at all. It can seem incredibly unfair that these businesses, often profiting in the billions each year, are paying less annual tax than your small, family run business. While this is indeed frustrating for anyone, it is of the utmost importance to your business, your success – and your reputation – to stay on top of your taxes.

It can help to assuage your irritation if you understand why the big corporations are paying so little – and if you learn about what happens when they get caught.

How do the big corporations and banks get away with paying so little?

If you are like most people, you have probably seen the myriad headlines exclaiming that big business and banks are getting away with the financial equivalent of ‘murder’ – paying little to no taxes on their massive revenues. In December of 2015, Reuters published a report that showed that seven of the largest banks in London reported paying only a combined amount of £21 million GBP in corporation tax in the year 2014.

21 million. Does this massive number sound like a lot of taxation revenue? It shouldn’t. The seven multinational banks profiled generated 2014 revenues of £21 billion GBP in the UK alone, achieving profits of around of $5.3 billion USD and employing 33,000 people. This means that banks such as JP Morgan, Bank of America Merrill Lynch, Deutsche Bank AG, Nomura Holding and Morgan Stanley paid less than .01% taxes on their annual revenue. Sound fair now? If you are like most of the general public, this figure might shock and/or anger you.

Reuters reached out to Her Majesty’s Revenue and Customs (HMRC) to try to glean more information about this touchy subject; they were turned away based on taxpayer confidentiality rules.

How are they getting away with this?

When you stop to realise that the average UK small business pays between 20% and 40% taxes on their revenue, you might find yourself hopping mad at the above figures. Why are these huge fat cats getting such massive breaks while you are sweating and working long hours, only to see your revenues slashed by the taxes you pay on an annual basis?

The answer, as it normally does, lies with money. Big business and large multinational banks can afford to hire the best of the best when it comes to taxation lawyers, accountants and bookkeepers. They are trained to find the biggest and most lucrative loopholes that are designed to keep their clients’ money in their accounts – and out of the hands of the countries in which they are located.

Tax accountants and high priced lawyers know how to best direct their clients’ profits into offshore accounts, multiple enterprises and strategic bookkeeping. As Metro UK reported last year, big corporations and banks will often create and utilise many different corporate entities that operate within their larger, overall company. In lay terms, this means that a purchase or order, though initiated in the UK, might be ‘completed’ in a different country.

The beginnings of change – a new era of corporate honesty

As the online sharing culture continues to thrive and grow, more and more large corporations are being named and shamed by the public based on their terrible taxation reputations.

As everyone’s favourite search engine and email provider, Google has recently agreed to pay more than £130 million GBP in back taxes to the UK government, in addition to promising to bear a higher tax burden going forward. The agreement was signed last month (in January 2016), and signals a sea change in the way that Google – and hopefully other – big corporations operate in the UK.

A Google spokesperson stated, ““We will now pay tax based on revenue from UK-based advertisers, which reflects the size and scope of our UK business.”

The importance of corporate tax dollars to the UK economy

While we always seem to be looking for a loophole or a way to lower our personal and business taxes, sometimes everyone needs to take a step back and remember that this revenue is incredibly important to our government on both a local and national level. Corporate taxes pay for business grants, infrastructure, training and the quality of life that helps to attract the best talent in the world to this country.

While your SME may not be able to afford the top rated lawyers who will help you skirt the taxes you would otherwise owe, try to remember that the money you pay each year is deeply important to your own success.

Remember – if you avoid taxes like Google did for over a decade, the UK government may not be willing to go so easy on you – being slapped with a massive bill could cripple your business and spell the end of your company.

In order to ensure that you are always on the right side of the law, you should consult with an accountant and/ or bookkeeper on a regular basis, and have them help you to do your year-end tax return. If you ever find that you have additional concerns, or if you are in any way worried that you have done something wrong or even illegal, you should immediately consult with a taxation lawyer and attempt to get back on the right side of the law.

While large corporations seem to be getting away with an illegal – and even immoral – lack of taxes, remember: your SME is still required to pay on time and accurately every year.

From 6th April any skilled workers who have immigrated to Britain from outside of the European Union and who have been living in the country for less than 10 years must earn at least £35,000 a year to allow them to remain in the UK. Some professions on the “shortage occupation list”, such as nurses, are exempt from these rules, but unfortunately these exempted professions won’t help SMEs. We look below at just how the new immigration laws will affect British SMEs.

 How Will It Affect British SMEs?

Many businesses, particularly SMEs, employ workers from overseas rather than take a longer-term and more expensive commitment to training British workers over what could potentially be a number of years. The government has introduced this policy specifically to change this, with a Home Office spokesman saying “We need to do more to change that, which means reducing the demand for migrant labour…These reforms will ensure that businesses are able to attract the skilled migrants they need, but we also want them to get far better at recruiting and training UK workers first.”

The implications for SMEs is clear. Small businesses typically do not have as much cash flow in their early years, and this can be the make or break factor in whether or not that business survives. Choosing to employ foreign talent is not always done to find workarounds to the British system, but is often necessary for survival. While it can be argued that this new policy is both beneficial and fair to British workers, and Britain as a whole, SMEs often don’t always have the luxury of committing both time and money to training up the British workforce.

There is of course also the risk that SMEs will now have a vastly reduced pool of talent from which to recruit and hire. Again, these businesses aren’t always hiring overseas to avoid hiring British workers, sometimes it is simply that the best talent is from overseas. Just as limited outflow of cash is crucial to a SMEs survival in its first few years, so is hiring the right talent. Recruiting and training up a worker in a particular field may take years, by which time the SME may have folded due to the lack of that particular skilled worker in the business. For example, the engineering sector currently has a shortage of skilled workers, and yet the average salary for a junior engineer is only £32,000, and so it is essential that businesses look overseas for the talent to keep their businesses afloat.

By Britain closing herself off from many foreign migrants, it will also have an impact on national relations. Jeffries Briginshaw, the CEO of BritishAmerican Business, said on the matter: “American companies are deeply entrenched in the UK economy and American citizens are part of UK society, whether this is in business, schools or families. Any restriction to the Tier 2 visa scheme will have a negative impact on the way American businesses operate in the UK and how American citizens can be part of the UK.” This too may harm the plans of any SMEs looking to expand their business abroad.

Unfortunately, at least in the short term, this new policy seems like it will only hinder SMEs, with 72% of recruiters stating that it will have a detrimental effect on business. The widening skill gap in the UK, alongside the introduction of this policy, is likely to increase staff turnover, create a new level of uncertainty and stunt business growth. SMEs will now be forced to think about new recruiting and training methods, greater staff retention and have a new emphasis on cost cutting and saving. While these are always vital factors in making any business work, this new level of pressure could be too much for a SME in its early years.

 How Will It Affect British Workers?

For British workers themselves, the implications seem beneficial It will mean there will now be a greater number of jobs available, as well as more chance to proceed down routes with new training and opportunities. Where before a position would have been filled by an overseas skilled worker, British workers will now have the chance to receive the training they need for that position.

A petition has been started on the policy, seen here, and has so far attracted over 100,000 signatures, resulting in the issue being debated upon in Parliament. However, the British government remains set on the fact that the policy is fair, having given individuals several years to prepare for this eventuality, first announcing the policy in 2011.

While the policy will help British citizens and help to curb the rising immigration rate, it could have a disastrous affect on businesses, particularly SMEs. While larger organisations can afford to take the hit and take time to train up new staff, SMEs don’t have this luxury; either in terms of time or money. Hiring skilled overseas workers not only helps them save a vital amount in costs, it is also sometimes simply the best option. While the British government are adamant that they will be enforcing the policy, those that have set up the petition against it have stated that they will continue to lobby and petition against the government regardless of the result.

As we approach the end of the first quarter of 2016, it is time to assess the year’s business forecast – and most importantly, what this information means for those involved in a small to medium sized business (SME). As the first two months of the year have passed, hopefully you have settled last year’s accounts and are moving on to make 2016 a new – and successful – year in its own right.

There are some positives – and negatives – for SMEs in the following expert predictions, read on in order to learn more about the year ahead and what you can do in order to maximise your potential.

2016 – A positive outlook for the year ahead?

The year started off with a bang when experts across the UK began predicting some positives for those involved in entrepreneurship and business. In late December 2015, the Telegraph published predictions that the nation seemed to be on the “cusp of a period of sustained good health.” This certainly seemed to be great news for SMEs.

It has since been predicted by the Bank of England that the British GDP will grow at an annual rate of 2.5 percent over the next half decade, a healthy boost that is pleasing business owners large and small. After all, if there is more money in the economy, it stands to reason that average people have more money in their pocket – there are then certain to be more people willing to part with their hard earned pounds on products, services and experiences – and maybe even on your SME.

Cautious Optimism

While this news seems like unequivocal good tidings for any SME in the UK, many small business owners are remaining cautiously optimistic. In a survey of thousands of entrepreneurs conducted by YouGov and EasyJet, only slightly more than half of the SME owners reported feeling like their businesses will grow over the next year.

This means that over forty five percent of those questioned are feeling rather apathetic about the prospects of the coming 12 months. Perhaps this is less a feeling of apathy, and simply just caution as the economy slowly recovers; it would be interesting to poll those same business owners this time next year and see if they have embraced the economy’s potential.

How can SMEs embrace and harness the surging economy’s potential?

If the UK continues to grow, many SME owners are wondering how they can embrace this potential and truly harness it for their own growth and profit. Here are a few pieces of advice that any small business owner can implement.

Hire the right people for the job

While it may be tempting to hire prodigiously during this time of growth and positive economic forecasting, it always pays to slow down and truly think about the best person for the job when it comes to hiring new staff.

While you may be in desperate need of a warm body to help you field calls, complete daily tasks and help around the office, it is incredibly important that you put a considerable amount of effort into finding the right staff. You may need to offer increased benefits, more perks and higher salaries in order to attract the best talent on the market.

Prepare for your exports to increase

Whether your SME regularly ships millions of pounds worth of goods around the globe, or whether you have never sold a single item beyond the border of your county, you need to begin to craft an international sales strategy. With foreign markets more lucrative than ever, and platforms such as Amazon, EBay and Etsy enabling you to reach them quickly and easily, you would be remiss to lose out on exports.

Even if you are not immediately planning to commence sales abroad, you should begin preparing for the logistics in order to do so as soon as possible. Having a strong implementation strategy in place will help you to enact smart policies as soon as the time is right, saving you time, money and lost sales.

Stay cautious

While you do not want to squander opportunities owing to an overly vigilant attitude toward the economy, you still must be realistic; a slip in the national and/ or global economic outlook may cause the UK to fall right back into a recession. While you should plan for and take advantage of growth, you must also always have a back-up plan and a more conservative strategy to fall back on in the event of financial turmoil.

2016 – The Next Three Quarters

Of course, for every positive financial forecast there is at least one more foreseeing doom – some economic experts have predicted that we can expect a financial crisis paralleled only by the great recession. While this opinion certainly has its champions, a financial crash is far from a foregone conclusion; many other experts are predicting a far better outcome.

One thing that analysts can agree upon is the supposed glut of SMEs on the market; start-ups, once so exciting and new, are increasingly being seen as a dime a dozen, and some experts think that that could spell disaster. lan Patricof, co-founder of Greycroft Partners, is worried. He has stated, “I am concerned about the over exuberance in financing of startups. There are just too many at the moment… I think inevitably we’re going to see more of these try the public market, and that will finally tell us whether they can support themselves.” While he does have a point about the large number of start-ups on the market, Patricof may be underestimating the power and the innovative spirit of your SME.

As a savvy entrepreneur, you already know that you need to ensure that your business stands out from the rest – let the financial climate of 2016 help you to prioritise, strategise and grow wisely.

While the UK manufacturing industries have certainly changed over the past century, this country is still a thriving place for production. Many start ups and established companies are making record profits making goods in the UK, and with a few hints and suggestions, so can you.

UK Manufacturing – A thing of the past?

The United Kingdom has a rich and storied history of manufacturing. From the trade guilds of the middle ages, bursting with skilled artisans producing handmade goods to the smoke belching factories of the Industrial Revolution, products of all kinds have been produced in the UK for millennia.

With that said, over the past thirty years a vast portion of this country’s once strong manufacturing industry has dwindled, throttled by high production costs and forced to relocate to countries with cheaper labour costs and lower overhead, such as Poland, China, Sri Lanka and others.

Vast swathes of formerly industrial land are being transformed into tech firm business hubs and luxury loft conversions, and from a simple look around one could be fooled into thinking that all manufacturing industries have left the UK for good. However, that quick glance would not tell the complete story – there are many firms, large and small, that still continue to manufacture all types of goods here in the UK to this day, and with a strengthening economy it seems that they will soon be joined by even more.

Manufacturing still an important part of the economy

Nearly 10 % of the British work force is involved in manufacturing in one form or another, and while this may be down from figures and statistics of yore, it still represents a large number of average people who rely on these industries for their bread and butter. The automobile production industry in the UK is actually on the rise; 2015 was their best year since 2008, and over 1 million cars were made in this country.

5 manufacturers setting the bar in the UK

From businesses that have stood the test of time to newbie start ups attempting to create a change, here is a small curated sampling of just a few of the manufacturers that are alive and well in the UK in 2016.

1. Cambridge Satchel Company – Buttery soft leather satchels and bags in timeless styles and bright colours, all sewn to perfection – this is the (not so) secret formula to the Cambridge Satchel Company’s success. Started in 2008 by a mum hoping to pay her kids’ school fees, this homegrown business has spawned a factory employing hundreds and brick and mortar stores across the world – they are now available in 120 countries. An amazing achievement in less than a decade!
2. Lush Fresh Handmade Cosmetics – A truly British success story, this quirky gang of ragtag cosmeticians began selling their iconic bath bombs, solid shampoos and cheese like wedges of soap in 1977 via a mail order catalogue. Many years (and a few name changes) later, 900 Lush Cosmetics shops are located in forty nine countries worldwide, and yet they still manufacture most of their products in Poole (additional factories in Canada and Japan meet worldwide need). The business world is paying attention – they earned record profits in 2015.
3. Rude Health – Starting small was the name of the game for this whole foods manufacturer. Londoners Camilla and Nick Bernard couldn’t find a muesli they liked in 2005, and so they decided to create their own – and now their company Rude Health is available across the country and reaching out to the continent. Priding itself on healthy, nutritious food, Rude Health’s products are made in the capital, to the tune of a 6 million turnover last year. Not so rude!
4. Turnberry Rug Works – Established in 1991, the team at Turnberry creates luxurious, bespoke rugs, carpets and wall hangings in a converted granary building on the West Coast of Scotland. They hand make their exquisite pieces out of the finest materials available, and their clients include embassies, celebrities and blue chip corporations.
5. Spectris – A global powerhouse in the industrial instrument arena, Spectris was established in 1915 and listed on the London Stock Exchange in 1988. They ‘make highly-specialised measuring instruments and controls for some of the most technically-demanding industrial applications’ at their factory in Egham. Employing over 8000 people in 30 countries worldwide, they have annual revenues topping 1 billion pounds.

How can you get started as a manufacturer in the UK?

If you are a small to medium sized business owner and you are considering manufacturing your products in the UK, you first need to be aware of a few factors. These can help you get off of the ground and get started!

• Location – If you want to get started on a tight budget, you will need to consider headquartering your manufacturing base in a relatively inexpensive location. So yes, that means London is out! In a smaller, more affordable area your rent, wage costs, and personal living expenses will be cheaper, and these factors can be the difference between success and failure in the first lean years. Recent studies have shown that Wales might be your cheapest option, but other factors such as transportation might affect your decision.
• Grants – Each year, nearly a billion pounds is made available in the form of grants to help new businesses get off of the ground, and as a newcomer to the manufacturing industry, it pays to take advantage of these. Check the government finance and business support finder to see the grants for which you may be eligible.

• Shared Factories – Running a factory can be a costly ordeal; for those who want to take advantage of the so called ‘sharing economy’ there is an ideal solution. Shared Factory schemes allow manufacturers to group together in order to share the often hefty costs associated with getting a factory up and running.

Manufacturing – alive and well in the UK

As you can clearly see, the manufacturing industry is alive and well in the United Kingdom, and as more savvy young entrepreneurs enter these industries you can expect to see a focus on unique, high quality and handmade goods all bearing the seal “Made in Britain.”

So often the unsung heroes of Britain’s business environment, female entrepreneurs are rapidly changing the face of what it means to be successful today.

Michelle Mone, Karren Brady, Emma Bridgewater – there are recognisable names that will always reappear when discussions turn to female entrepreneurship in the UK. But what of the many less heard of women who are raising capital, launching ventures, and building businesses that are quietly sweeping the nation? This International Women’s Day, we take a look at some of the UK’s emerging entrepreneurs, and define the characteristics that make each one a success.

Entrepreneurs: Roshni Assomull and Shaleena Chanrai

Company: Bella Kinesis

Fitness enthusiasts turned business partners Roshni Assomull and Shaleena Chanrai launched the social enterprise Bella Kinesis in December 2014. A unique CSR concept, Bella Kinesis is a women’s sportswear brand that funds a business education for a woman in rural India for each item of sportswear sold. “We’re both in our mid-twenties and launched the company with really no business experience at all,” reveals Roshni. “Exercise not only makes women physically stronger, but also leaves them feeling more confident and empowered. We wanted to give this same feeling to other women by helping them start their own businesses.” All of their garments are made in Britain using premium performance Italian fabric, and on what Roshni calls a “shoestring budget”, the duo has set about publicizing their brand. So far, so good – Bella Kinesis has recently been featured in Glamour and the Guardian, and has just been awarded a PEA Award for promoting conscious consumerism. “We also won Theo Paphitis’ #SBS Challenge in December 2015, and were shortlisted for the Great British Entrepreneur Awards for Social Enterprise (International), Micro Business and Manufacturing,” adds Roshni.

Entrepreneur: Anna Jacobs

Company: Anna Jacobs

London-based designer Anna Jacobs possesses the definition of entrepreneurial spirit. Having studied art and interior design at school, Anna lost “everything” five years ago. “To get back on my feet, I started my own business as an artist and homewares designer and completely changed my career path,” she reveals. “My business has grown hugely over the last 18 months and I’ve recently been named as one of ‘Five super talented new homewares designers to know’ by Good Housekeeping magazine. I’m just expanding into Europe and have been chosen as one of a group of British designers to be launched in America at the end of March.” In addition to this, Anna has also launched a social enterprise aspect of her business through which she aims to help other single parents and women. “As such, one of my new cushions is being sewn by women in a high security prison. I have other plans too!” she adds.

Entrepreneur: Amy Crabtree

Company: Cakes with Faces

Nominated for a NEO Award 2015 (Best Specialist Company), Cakes with Faces is the brainchild of graphic artist/designer and owner Amy Crabtree. The brand features a range of colourful t-shirts and gifts inspired by Japanese culture and kawaii (cute) design. “I started my business as a hobby five years ago and in 2014 it became my full time job,” says Amy. “I sell online and at events like London Comic Con and Hyper Japan, and I also run a YouTube channel to promote my business.” Cakes with Faces was part of the top 100 small businesses in Small Business Saturday, and has been featured on BBC Radio, The Guardian Christmas Gift Guide, and nominated for 4 NEO Awards (Best Specialist Company). Amy’s eye-catching designs certainly haven’t gone unnoticed: “George Osborne once called me ‘the most colourful person who’s ever been at Downing Street!’”

Entrepreneur: Katrina Aleksa

Company: Predella House

Predella House is an online art gallery based in London, curating art for the so-called “culturally curious”. Predella House is run by a small, all female team looking to break down barriers in the art world through the medium of social media. “We believe the art world should not be gated by art critics and auction houses, but that everyone should be entitled to join the debate, and thus opening the gates of the art world,” says Katrina. With the online art market now valued at £2.6 billion as of 2015, Katrina is determined to push the art world forward and make this market more accessible to users on platforms such as Pinterest and Instagram.

The characteristics they have in common

The ability to recognise a gap in the market, ambition and dedication, fearlessness – a number of buzzwords are used to describe entrepreneurial characteristics on a daily basis.

While the women behind Britain’s start-up businesses may have this in abundance, they also possess so much more. “It is the ultimate luxury to combine passion and contribution. It’s also a very clear path to happiness,” once said Facebook Chief Operating Officer Sheryl Sandberg. When looking at the profiles of Britain’s female entrepreneurs, it can be seen that each venture was born out of a willingness to combine passion and contribution. There is an increasing focus on not just running a business, but building an enterprise that puts back into the community. In an article penned for Entrepreneur.com, Founder and CEO of Market Domination Media Jonathon Long outlined eight entrepreneurial qualities that contribute to success. Coming in at number eight?

Giving Back.

“It is important to understand how lucky we are, as entrepreneurs, to do what we love,” he writes. “When you are appreciative of what you have accomplished and then take a step back to see what you can do to give back, it gives you a feeling like no other.” Whether it’s helping women in India access education or helping women in the UK rehabilitate, many of the business ventures helmed by women are seeking not just to turn a profit, but to make a palpable change and leave a mark on society.

With nearly one million SMEs run by women in the UK, the time to recognize women’s accomplishments in launching and running British businesses is now. This International Women’s Day, Formations Direct, is proud to support women’s enterprise and help entrepreneurs put businesses of any size on the path to success.