Category: Money saving

The first budget of the new Labour government has been much anticipated, and Wednesday’s announcement had everyone glued to the news. Families, workers, savers and borrowers were all wondering what the budget meant for them. And entrepreneurs and CEOs were wondering, “what does the budget mean for businesses?”

In this blog, we look at what additional payments and reductions businesses need to cover, and how Get Ahead can help. 

What does the budget mean for businesses? 

The rise in employers’ National Insurance contributions (NICs) was not unexpected, but it has still raised the costs of taking on employees. 

In addition, the increase to interest rates means that business loan repayments will increase – another cost to business owners. 

It’s easy to see that, with these cost increases, business owners will be looking to make any savings they can. 

One way that small businesses can save is by taking advantage of the increased employment allowance, whereby they don’t have to pay NI on the first £10,500. 

Another way to save is to consider outsourcing instead of employing. Whether you’re new to outsourcing or you’ve used the model for years, Get Ahead is here to help.

How Get Ahead supports businesses impacted by the 2024 budget

Get Ahead is an established outsourcing agency. We work on a regional basis: business owners approach our regional directors in search of practical, back-office support. The regional director then connects the business owner with one of our virtual experts who delivers the required work.

There are a number of reasons why our business model gives businesses better value for money than conventional employment:

No NICs, sick pay, annual leave or pension contributions

    All our virtual experts are self-employed. This means that our clients only pay for our experts’ work and don’t have any other financial responsibilities towards them. 

    Remote working

    Our virtual experts work from home, meaning you don’t have to provide office facilities or tech hardware. This could save you renting office space, freeing up more of your profits to grow your business.

    Only pay for hours worked

    When you employ someone, you continue to pay them even when they’re on a tea break, watering the plants or signing team birthday cards. But with our outsourcing model, you only pay for the work they do for your business. We are also completely flexible – there’s no need to commit to paying for the same number of hours every month. 

    Your virtual team

    Get Ahead’s virtual experts can work seamlessly with your other employees, or even form your entire team. Use outsourced work to plug skills gaps or provide support for project work. Alternatively, let us hand pick a group of people with the specific skills you need to take your business forward in a cost-effective way. 

    We believe you’ll see considerable savings when you outsource, enabling you to meet the new increased payments while still growing your business. 

    Find out more about the financial advantages of outsourcing here.

    HR outsourcing and accounts outsourcing solutions for UK businesses

    Unlike typical virtual assistant agencies, we offer a wide range of back-office services, including finance and HR outsourcing. Our finance experts can review your systems and might find other savings, like unused subscriptions and unpaid invoices. This could mean freeing up funds to cover the increased business costs, without having to let any of your current team go. 

    Our HR experts can help you stay compliant with the new rules, ensuring that you’re making the correct contributions and doing right by your employees. And if you find yourself in the unfortunate position of having to reduce the number of people you employ, our HR experts can help you manage the situation so it’s legal, fair and handled appropriately. 

    Get in touch to find out more

    If our blog has got you thinking about ways to save money after the 2024 budget, we’d love to hear from you. We offer a range of outsourced back-office support, including administration, bookkeeping, marketing, social media, finance, HR and more. Visit our service pages here, or get in touch with your local regional director for a friendly, no-obligation chat. 

    The much-anticipated Employment Rights Bill 2024 is being described as a “once in a generation” shake-up, protecting all workers and establishing new norms. Looking ahead, ministers hope it will improve job security, enabling more people of working age to stay in employment and contribute to the UK’s economic growth.

    The Bill sets out new maternity rights, as well as an increase in statutory sick pay. Other rights will be introduced, including the right of a worker to retaliate against unfair dismissal without having to wait for a certain time period to elapse. While these could mean increased employment costs and workplace adjustments for small businesses, the overall benefits of the Bill are significant and a welcome protection for workers at all levels.

    To help your business navigate the new normal and meet the requirements of the updated employment law, Get Ahead are here to help. Here are four ways we help small businesses comply with the Employment Rights Bill 2024:

    1. Outsourced HR support

    You want to do right by your employees but you need to know you’re operating within the new law too. Our HR experts will review your systems, contracts and employee handbooks to ensure they are up to date and compliant. Our team can also design and deliver training to update staff and supervisors, ensuring your team understands all the implications of the new Bill.

    • Payroll outsourcing services

    The new Bill means changes to sick pay and maternity pay. If this also means changes for your payroll department, Get Ahead can help. Our payroll outsourcing services means we can set up new systems to incorporate the changes, ensuring your staff on sick leave and maternity leave receive the right pay at the right time.

    • Virtual PA services to streamline your systems

    Over the years, our virtual PA services have helped countless clients to save money by streamlining systems and introducing efficiencies. Through chasing outstanding invoices, cancelling unused subscriptions, introducing quicker methods or reducing working hours, our VAs have made a massive difference to businesses of all sizes. Business efficiencies could free up the budget you need to cover the increases in sick pay and maternity pay outlined in the Employment Rights Bill 2024.

    • Your virtual team in an uncertain time

    If you were on the point of recruiting but the new Bill has made you think twice, Get Ahead can help. Our expert team of remote workers can deliver back-office support while you test the water. And because you’re not locked into a long contract, you can hire your own permanent staff whenever you’re ready.

    Flexible back-office support from Get Ahead

    At Get Ahead, we know that businesses thrive on flexibility (that’s in the new Bill too!). That’s why all our services are fully flexible and we never tie clients into long contracts. In turn, this means your workplace changes could be sorted out quickly and efficiently – the new Bill doesn’t have to be an expensive, confusing headache at all. We can provide the short-term support to help you through the transition, freeing you up to do what you do best.

    Explore our site to find out more, or contact your local regional director today.

    ChatGPT is a hot topic at the moment. Businesses are considering whether it could make their lives easier. And skilled content creators are wondering if they’re about to be replaced by a bot. We’ve noticed that savvy business users are weighing up the pros and cons, working out where ChatGPT is the right solution and identifying where a real person will do a better job.

    Let’s take a closer look.

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    When you outsource social media content to Get Ahead, your new social media manager will often use a scheduling platform. Scheduling platforms like Hootsuite and Buffer help us keep up a consistent presence on social media channels and definitely make life easier. However, there are some pitfalls to avoid too – our social media managers know them all and they thought they’d be useful to share!

    In this blog, we look at the benefits of scheduling social media content, and note the pitfalls to avoid.

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    Social media is a fantastic marketing tool, but it’s not without its downsides. Many business owners struggle to find a balance between maintaining their presence online and managing their time. Could the decision to outsource social media be the right one for you?

    Let’s take a closer look.

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    IT breaches are nearly always serious. No business can afford to compromise data security or risk losing trade because of a computer virus.

    In this blog, we look at some of the ways businesses of all sizes can protect their computer systems from hacking, data breaches and other problems. Some of these responsibilities are for management; others are good habits that everyone should get into.

    IT responsibilities for management

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    Online safety is an issue for everyone. Sometimes, very sadly, it makes the headlines, with vulnerable teenagers unable to escape social media’s darker side, or celebrities falling prey to trolls or cancel culture.

    If you’re reading this, you’re probably not a vulnerable teenager or a celebrity. But social media safety is important for business owners too. In addition to protecting your identity and mental health, business owners are in a strong position to set a good example with relevant content, moderate views and helpful advice.

    Let’s take a closer look at online safety for business owners.

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    Every business carries an element of risk. If your small business is seeing opportunities to scale up and break into new markets, you might feel cautious about committing to a new product or department. Above all, you’ll need a cost-effective method to minimise the gamble you take. However, we believe outsourcing could the solution you’re looking for!

    In this blog, we explore how flexible outsourcing can help you seize opportunities to take your business in new directions.

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    Email marketing is a great tool. If you’re on the Get Ahead mailing list, you’ll be used to receiving our monthly messages. But you might not know how much effort has gone into refining our emails over the years! We love our current structure, but we know it’s always good to be open to different ways of communicating.

    In this blog, we share seven of our favourite ideas for email marketing.

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    If you employ a team of people but your own time management isn’t great, it could spell trouble for your business. Fortunately, poor time management is possible to fix.

    In this blog, we look at why poor time management is a problem and suggest a few solutions too.

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