Setting Up Business Overseas

americaHow many of us have said that we would like to work and live abroad? The thought probably crosses are minds quite a lot on the cold, dark days of winter, but is it actually a viable possibility? The dream is well and truly alive for many expat entrepreneurs with research from NatWest International's Personal Banking Quality of Life Index showing that seven out of ten of overseas business people believing they have done better in business by starting up abroad.

The best places for encouraging enterprise? Singapore, the US and Hong Kong came out top with cheaper resources and tax incentives being two of the biggest advantages, although it's not all good news as there are still problems to overcome, such as foreign regulations.

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The Red Tape Challenge

31592nfsh5ro2rpWhile regulation is a good thing when it comes to protecting all areas of our lives - including businesses, employers and employees - the 21,000 plus rules that currently govern out lives are actually becoming a burden that is hurting businesses and as a result damaging the economy.

The current government has, therefore, set out to cut some of the red tape we are confronted by on a daily basis, and so members of the public, businesses and community organisations are being invited to have their say on regulations. This is where the Red Tape Challenge website comes in.

It's a very simple, but effective concept. Every few weeks a new set of regulations, affecting one specific sector or industry, will open on the website for anyone to comment on. Then, when a theme has closed, Ministers will have three months to explain why a regulation is still required, or it will be scrapped.

The current challenge is health and safety, and so click here to have your say on health and safety regulations.

Response to Telegraph article regarding the Government's plans to increase parental leave entitlement and to introduce new flexible working plans


pmsbabyAccording to The Telegraph’s article the Government will soon make substantial changes to the current number of days a father can take off work. The increase will be from two to six weeks’ paid leave. Fathers will also be able to use up some of the mothers’ entitlement, which could result in fathers being able to take five and a half months paid leave off work after the birth of their child.

In addition to this, both parents would be able to take up to six months off at the same time, which may cause staffing problems for small and medium sized enterprises (SMEs). The employer will not be able to refuse such a request.
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Response to FT article about changes to paid maternity leave

 

Draft legislation has been passed by a committee of the European Parliament to extend maternity leave across Europe to 20 weeks on full pay. The proposal will now be put before the full European Parliament in early March.

At the moment in the UK, women get a year off, with the first six weeks at 90% pay followed by 33 weeks on Statutory Maternity Pay – the rest is unpaid. Such a change in the law could have a serious impact on business, with the Institute of Directors estimating that it could cost UK companies between £1.5bn and £2.0bn.

So what could the implications be? It has been suggested that it might discourage employers from taking women on.
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