Everyone is talking about this new legal responsibility for employers. It’s not a discussion, it’s not an option – it’s very much real and here to stay and it will affect employers with eligible employees. It will become part of normal business along with RTI submissions to HMRC.
So what is Auto Enrolment? What do you as an employer need to do? What are the costs to the business? Are there any benefits? I here you say ‘oh no, not another burden for my business to deal with? Another cost we have to incur?’ As a small business specialist I wanted to write this article to explain a little about Auto Enrolment and how we can help you through this process. We want to take the headache from you so you can focus your efforts on running and growing your business.
Auto Enrolment is referred to as a series of measures introduced through the Pensions Act 2008 and 2011 where employers have to put ‘qualifying individuals’ into a workplace pension scheme. People are living longer and not saving for retirement and so the aim of Auto Enrolment was the government’s way for people to save for retirement.
Businesses don’t plan to fail they fail to plan! – First ten readers to ‘LIKE’ this article will receive a complimentary Business Health Check.
I wanted to write this article as I see so many small businesses suffering similar issues which are quite symptomatic of business failure. So I wanted to write about why some businesses fail and really focus on one area of failure which is the topic of this article – Planning!
Let’s just take a few moments to understand why some businesses fail. Although the focus to my article is planning, let’s not forget there are other factors as to why businesses fail too and should really all be considered during the planning process.