engage magazine issue 005 \\\\\\\'07 | Page 11

News
NEWS FOCUS 11
News

Small firms’ strategies include going green

Pension gap crisis for small firm’ s employees

More than 85 % of small and
reducing waste( 67 %) and
Despite employers’
in these firms are not
medium-sized businesses
encouraging staff to turn
encouragement, employees
making any contribution at
claim that becoming
off equipment when not in
in small and medium-sized
all, despite the fact that 29 %
environmentally friendly
use( 30 %). But employers in
businesses are not making
of employers put in more
will be part of their
small firms are not taking
enough contribution to their
than 6 % of salary towards
business strategy in the
up more drastic measures
pensions, new research
a pension on behalf of their
next five years, according to
to cut carbon emissions,
suggests.
employers. A significant 37 %
new research.
such as introducing flexible
of employers have less than
Eclipse Internet found that
working to reduce the
A survey from Barclays
25 % of employees in the
smaller firms are taking an
amount staff commute, the
Financial Planning has
company pension scheme,
increasing interest in‘ going
study found.
found that 51 % of employers
research found.
green’ however, the majority
Almost 82 % of businesses
in smaller firms are
of them do not feel they
surveyed believe they need
actively encouraging their
The survey also showed
are being supported by the
to be given more guidelines
staff to increase pension
almost half( 48 %) of these
government in their efforts.
from government on how to
contributions because
employers provide access to
Small businesses were
cut their carbon footprint.
they are concerned their
professional financial advice
seen to be concentrating
Only 10 % of those surveyed
employees are making
for employees and 36 %
on the small ways in which
said they feel they know what
insufficient contributions.
regularly update their
carbon emissions can be
they are doing when it comes
According to the survey,
staff on changes to the
cut, such as recycling( 76 %),
to going green.
almost a fifth of employees
pension scheme.

2008 ….. Be Aware!

The Companies Act 2006
The Companies Act 2006 received Royal Assent on the 8th November 2006 and will be implemented over the next two years. The Act aims to ease the burden on small companies even though it contains a whopping 1,300 sections.
The Statutory Statement of Directors’ Duties
From April 2008, it will be no longer be a requirement for private companies to have a company secretary( s. 270). A‘ sole director’ will suffice. Filing will still be necessary however, forms and time limits will be changing. In order to have no secretary it may be necessary to alter the articles to remove the requirement of a company secretary.
• Subject to s. 172( 1):
• directors will have statutory duty to promote the success of the company
• a director must act in a manner he / she considers most likely to promote the success of the company for the benefit of the shareholders with regard to:
• the consequences of any long term decision
• the interests of the company’ s employees
• business relationships with suppliers, customers and others
• the community and the environment
• maintaining a reputation for high standards of business conduct and
• the need to act fairly as between members The Act also provides that a shareholder may enforce these statutory duties through the courts.
ISSUE FIVE 2007 engage | uk