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Unispace Group strengthens its life sciences offering by acquiring Bulb

Global life sciences strategy, design, and construction firm, Unispace Life Sciences, has acquired UK laboratory and office fit-out specialist firm Bulb. 

This is the second life sciences design company the business welcomes in less than two years, after attaining BioPharma Engineering (BPE) in Cork, Ireland in 2022. Bulb will operate as ‘Unispace Life Sciences’, part of the Unispace Group, with a highly experienced team fully dedicated to creating inspiring facilities, labs and workplaces for this sector.

This is another significant step for the business’ life sciences segment, which has demonstrated remarkable growth so far to date and is on target to continue to expand significantly over the next two years. The merger with Bulb will deepen its industry specialization particularly within the UK market.

Bulb designs and builds inspiring working environments in the life sciences sector, including R&D facilities, high-tech laboratory spaces, production facilities, and corporate offices. Bulb operates across the UK and has delivered complex projects for clients, including Kadans Science Partners and Advanced Research Clusters (ARC).

CEO at Unispace Life Sciences, John O’Reilly said: “We're obviously thrilled to welcome Bulb to our growing life sciences segment. Our businesses are well aligned, we share similar values, growth ambitions, and our combined teams have a wealth of experience to offer all our clients.

"Life sciences is one of the strongest performing sectors in the UK, and to maintain business growth biopharma firms need access to quality facilities and working environments that attract the best talent, drive innovation, and enable collaboration.

With our new team on board, we're feel we are well placed to support clients with their changing needs in a fast-moving market.”

Derek Jones, who is Bulb's MD said: “We are excited to join a fast-growing, global business such as Unispace Life Sciences; our joined-up team of experts will be able to offer clients a much wider range of capabilities and services. 

"And we look forward to beginning our new journey as Unispace Life Sciences and continuing to deliver inspiring and sustainable work environments that address the challenges today’s life sciences businesses are facing.”

New Amazon sellers’ fees could lead to the e-commerce giant’s breakup, claims ParcelHero

Amazon is reportedly introducing new fees for sellers who try to bypass its own logistics services, just as America’s Federal Trade Commission prepares its antitrust lawsuit. Amazon has reportedly failed in a ‘last rites’ meeting to stop legal action. ParcelHero says the timing of Amazon’s new fees could fuel the breakup of the West’s biggest online platform.

Just as America’s Federal Trade Commission plans to launch a major antitrust lawsuit against Amazon, the giant online seller has announced a new fee for those Prime traders who don’t use its logistics services.  

Starting in October, US Seller Fulfilled Prime users who opt out of Amazon’s delivery and warehousing services must pay Amazon a 2% cut of every sale, or a minimum of $0.25 per item, according to the global news organisation AP. 

The news comes just as it’s reported Amazon’s representatives have failed to persuade America’s Federal Trade Commission (FTC) that it's not misused its size to engage in anti-competitive behaviour. The new fee might help pave the way for the FTC to file its antitrust lawsuit in an American federal court.

UK-USA delivery specialist ParcelHero says the FTC’s Chair, Lina Khan, has previously criticised the actions of several large tech companies, particularly Amazon. 

The addition of new fees for Prime sellers attempting to avoid using Amazon’s logistics services will do nothing to mollify the FTC. If the Commission were to win its case, that could result in the breakup of the online giant.

ParcelHero’s Head of Consumer Research, David Jinks M.I.L.T., says: ‘Amazon reportedly met this week with the three FTC Commissioners in what is commonly known in the US as a “last rites” meeting, which generally precedes the launch of a full-scale lawsuit.

‘The Commission is believed to have been investigating Amazon since 2021, looking into evidence of anti-competitive practices. These potentially include allegedly launching copy-cat white label products and allegedly giving undue prominence to sellers using its Logistics by Amazon service.

‘If the Commission wins its case, US experts say it could lead to the breakup of Amazon’s $1.3bn business.

"America’s FTC operates in a similar way to the UK’s Competition and Market’s Authority (CMA).  The FTA upholds US anti-trust laws prohibiting practices that could have a negative impact on free markets and create entry barriers. Common examples of such behaviour may include price-fixing, corporate mergers that are anti-competitive and artificial pricing that helps maintain a monopoly.

"Don’t think that the breakup of Amazon couldn’t happen. Back in the 1990s, an FTC investigation into Microsoft eventually led to a US Department of Justice trial. In 2000, the world’s then-biggest software company was found guilty of constituting a monopoly of the PC market and stifling competitors.

"The US Government ruled that the company should be divided into two separate entities. One would be responsible for Windows and the other for all of Microsoft’s other software.  The long-term impact of that case has been continued attempts by legislators to break up those big tech companies seen as having too much power. Some US politicians say they want to see Amazon broken up into a web sales platform and a separate company running the Amazon Web System (AWS).

"Could we see a similar result to the Microsoft case in Amazon’s prosecution? It’s certainly possible. The complaint is likely to focus on issues around Amazon Prime, allegedly blocking lower prices on competing websites, and potentially forcing sellers into using Amazon’s logistics and advertising services.

"Returning to that 2000 Microsoft anti-trust judgement, ultimately Microsoft managed to avoid being broken up, after an appeal. However, it was forced to reveal details of its software coding to competitors, to make it easier for PC manufacturers to use non-Microsoft software.

"How might Amazon fare in a similar case? In fact, the FTC has had little luck in its other recent attempts to sue big tech companies. This summer, for example, it was pursuing various legal challenges against Microsoft to stop its $68.7bn acquisition of “Call of Duty” maker Activision Blizzard. However, it has now lost or dropped all these cases.

"Amazon did seem worried, however, about the FTC’s investigation into its private label brands. It has hastily dropped 27 of its 30 in-house clothing brands, seemingly in anticipation of legal action. However, its latest move in introducing new fees for Prime sellers who choose not to use its logistics services perhaps indicates it’s now feeling more confident about the outcome of any case.

"However, the smart money is still on Amazon winning its battle against the FTC. However, the Commission has deposed around 30 Amazon executives, thought to include Executive Chairman Jeff Bezos and Chief Executive Officer Andy Jassy, and has collected a considerable amount of internal emails and other evidence. The outcome is certainly not a done deal.

"US retail and trade practices can differ surprisingly from those of the UK, especially as there are many state laws that may seem to contradict its federal legislation. ParcelHero’s USA page gives full details on Customs advice, sending food, prohibited items, etc."

The US is ParcelHero’s biggest individual overseas market. For expert advice on UK-US shipping, including help for sellers and exporters, see: https://www.parcelhero.com/en-gb/international-courier-services/usa-parcel-delivery

 

Who Should Price a Gig? MIT SMR Researchers Examine Platform Pricing Practices for Long-Term Success

Getting pricing right on platform marketplaces for services like Uber, Fiverr, and Postmates, is critical to successfully attracting both buyers and sellers,  and according to new research recently released in MIT Sloan Management Review, platform operators aren’t always the right parties to make pricing decisions.

A platform’s long-term sustainability requires balancing the health of the marketplace with the power dynamics among participants, and often sharing pricing power with service providers and customers, the researchers argue.

“Granting price-setting control is a major strategic decision that ultimately determines value creation and capture and establishes the power dynamics between the platforms themselves, service providers, and customers,” explains Jovana Karanovic, an assistant professor at the Rotterdam School of Management, Erasmus University, and co-author of “Who Should Price a Gig?”

“Creating a scenario where all three stakeholders find the pricing model to be sustainable and beneficial is the key challenge that platform leaders face. And the solution is usually a hybrid format where some decision and control rights are shared,” she points out.

Karanovic and coauthors, Elizabeth J. Altman, who is an associate professor of management at the University of Massachusetts Lowell, and Carmelo Cennamo, a professor of strategy and entrepreneurship at Copenhagen Business School, conducted interviews with platform executives, evaluated pricing models of platform-based businesses in different regions, and analysed data from a service platform that had changed its model to allow providers to set prices.

Providing a framework for understanding key trade-offs of different platform price-setting approaches, “Who Should Price a Gig?” examines the benefits, risks, and hybrid solutions for all stakeholders.

“Platform leaders must realise a platform is not a unilateral, hierarchically managed entity but rather a web of economic and social relationships. To manage it successfully and ensure satisfaction by all parties, they must share some aspects of control with other stakeholders, allow for compromise, and step in to support their workforce when needed,” said Altman. “When control is shared more equitably by all parties in the platform relationship, the platform model can cater more beneficially to all.”

The MIT Sloan Management Review article “Who Should Price a Gig?” published at 8 a.m. ET on Aug. 21, 2023.

https://sloanreview.mit.edu

(Image courtesy of Gerd Altmann from Pixabay)

Latest data shows economic activity to pick up: but planned redundancies a concern

Responding to the latest economic activity and social change data from the Office for National Statistics (ONS), Ann Swain, Global CEO at the Association of Professional Staffing Companies (APSCo) said: “While the fall in online jobs noted in the latest statistics is to be expected given the summer holidays, the data does show that economic activity looks set to pick up again next month. 

"With more businesses expecting their turnover to increase in September, the indicators suggest that positivity is on the cards for the remainder of the year.

“With inflation falling and GDP seeing better than expected growth, the recruitment market is likely to see an uplift in activity once again. However, skills shortages remain a significant challenge across many sectors, which makes the planned redundancy figures in today’s publication a concern."

She issued a not of caution to employers considering shedding staff: “As we saw during the pandemic, employers that cut staff found it difficult to replace them once the economic recovery began. Businesses stripping back resources now may face a similar problem in the coming quarter.”

https://www.apsco.org

APSCo warns umbrella compliance consultation is ‘flawed’

In response to the Government's consultation period, Tackling non-compliance in the umbrella company market, the Association of Professional Staffing Companies (APSCo) has warned the proposals are flawed as they fail to do address the root cause of the issue, the need for licencing of the umbrella sector.

In its submission to HM Treasury, APSCo highlighted many of the proposals aren't sufficiently wide-ranging, including:

- The proposed options aren't fit for the current marketplace, let alone anticipating future market innovations.

- They won't address the fundamental problems, there are no barriers to entry to the umbrella market, setting up a corporate entity and launching an umbrella company can be done in a mere matter of days.

- The supply chain can't have the same access to payroll data as HMRC, thus no amount of due diligence will give the supply chain access to the information that's vital to find and prevent tax avoidance. If a corrupt umbrella company sets up a shadow scheme, either with or without worker’s knowledge, then this won't be shown on any standard level of due diligence by a recruiter.

Tania Bowers, Global Public Policy Director at APSCo points out: explained: “We've proposed a broader definition to encompass umbrella companies within existing legislation which also allows for marketplace evolution, for example, such as direct engagement with end-hirers.

“While we welcome the commitment to tackle non-compliance in the umbrella sector, we believe the proposals don't go far enough to target the umbrella companies, as opposed to placing more liability and obligations on recruiters.

“There are no barriers to entry to the umbrella market, which means that setting up a corporate entity and launching an umbrella company can be done in a matter of days. 

"A licencing or registration process is required with EAS or another body, in recognition that financial wrongdoing is the largest risk to workers and the supply chain. Further, industry self-regulation should be replaced with statutory compliance codes.

“Members support enshrining due diligence in regulation as a first step as this will immediately lead to a more level playing field but don’t think it’s the most effective route to stop tax non-compliance.

“As to debt transfer and requiring recruiters to take on deemed employer obligations, members consider this will lead to SMEs being edged further out of the marketplace as end-hirers and outsourcers understandably toughen up their preferred supplier lists and contractual indemnities and potentially take the hiring process in-house.

“APSCo will continue to work with HMT, EAS and HMRC to find the right, best solutions to tackle tax non-compliance in the umbrella sector and ensure the voice of our members is heard, but urge Government to redirect their energy at regulating the sector itself, rather than requiring recruiters to do so."

https://www.apsco.org

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Don't wreck your business by not promoting it!

One of the first things to go for many businesses during times of economic troubles or a recession is the marketing budget and the advertising budget.

I first realised the folly of this approach when I worked as the news editor/advertising copywriter for a local news magazine some years ago.

There were two companies which offered similar types of services in our area and they both booked a full page of advertising in every issue of our magazine and they both had a full page of editorial copy, created by me, to accompany it.

When times got a little tight during a recession one of the advertisers withdrew all of his adverts with immediate effect. 

But his rival continued to advertise and, of course, he continued to have his matching full page of advertorial, too.

One day when he was visiting our offices I asked him why he had continued to pay for advertising when his rival hadn't.

He explained it to me like this: "I will always, always scrape together enough money for an advert. Why? Because if you want your business to continue and even prosper, it must continue to be in the eye of the public. In this instance, seen by the readers of your magazine."

I asked him how his rival was doing? He shrugged and said "Well, not too well, to be honest. He's still trading, but I don't know how long for."

I asked him how his own business was doing? "We're doing very well, to be honest. In fact, despite trading conditions not being ideal with the recession, we've noticed an increase in business. Some of them have told us that they thought our rival had gone out of business as they'd not seen their adverts in the magazine for months!"

Eventually his rival did close down. People thought it was due to the recession, but it was due to his refusing to spend any money on advertising.

So, to avoid that fate, remember that spending money on advertising and also on press releases and marketing (even if it might be at a lower level than usual) is important because how will people know that your company is still in business?

(Image courtesy of Gerd Altmann from Pixabay)

Has the Revaluation Balanced Business Rates?

In March, the Non-Domestic Rating Bill was introduced in the House of Commons. This was the result of a lengthy review into the modernisation of the business rates system. A big component of this new bill is more frequent revaluations. Supposedly, this is to ensure that information on commercial property’s is updated more frequently and is therefore more accurate.

Attempting to modernise the tax system is nothing new. It's a fairly common request among business owners and leaders, and one ratings companies see on a daily basis. One that picks up steam momentarily around a new rating list. 

While shorter periods of time do offer the opportunity to update information more quickly, it is just that – an opportunity to do so. Without swift and dedicated involvement on behalf of the Valuation Office Agency (VOA), a shorter revaluation doesn't immediately offer a solution that fits everyone.

Requiring the relevant knowledge and expertise, which is information held by the VOA, business rates payers cannot challenge their liability without engaging the assistance and expertise of a specialist. 

The amount of time needed alone to take out of running a business to do so, is simply infeasible for many. Let alone having a complex knowledge of the inner workings of the whole business rates tax system"

So, how has the revaluation helped business rates payers?

Currently, the 2023 rating list is set to last for three years. For most, the only difference they'll have noticed is an increase that's simply going to stay elevated. So how has the revaluation helped businesses?

Challenging your business rates liability requires a tremendous amount of expertise. Whilst the VOA have the tools necessary to do so, they don't offer them to business rates payers to help individuals do so.

“We’ve said it before, and we’re going to keep saying it," opined Anthony Hughes, MD at RVA Surveyors, who laughed at the idea/

He went on to say: “Unless each individual commercial property is inspected within the three-year rating list, based on its own merits and unique assets, the information held by the VOA can never be entirely accurate. It's well within their ability to inspect every property within a rating list to ensure accuracy before a new revaluation. They have the manpower; they just need to have the willpower to do so.”

After a tumultuous few years, which saw businesses closing at an alarming rate, a support package for businesses was quickly put into place. Included in this was freezing the multipliers. During Covid, expanded retail relief was renamed Retail Hospitality and Leisure (RHL) which now covers 75% of the rates payable. 

UK Hospitality’s latest analysis predicts that an increase in business rates and the end of such reliefs will see an additional increase of £850 million in the next financial year for those in the hospitality industry alone.

While these have appeared as huge boons for business rates payers, they do come with limitations.

When the sticking plaster is removed, business owners and leaders will still be expected to pay the full liability. Many businesses will run foul and insolvencies will obviously increase. In the second quarter of 2023, there was an over 13% rise in insolvencies compared to the second quarter of 2022.

David Kelly, Head of Insolvency at PwC, said: "The data shows the UK has had the highest quarterly number (6,342) of company insolvencies since the financial crisis in 2009. In total, in the first half of 2023, there were approximately 13,000 corporate failures.”

Due to a crippling economic outlook, many business rates payers are still struggling as people tighten their purse strings. While revaluations offer the opportunity for more accurate and fairer business rates, it's the actions of the VOA and government agencies which will determine what effect it has for business owners and leaders.

https://www.rvasurveyors.com

(Image courtesy of  Peggy from Pixabay)

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Do you need to complete a Self Assessment tax return this year?

If someone has had a change in circumstances, then they might need to complete their first ever Self Assessment tax return for the 2022 to 2023 tax year, HM Revenue and Customs (HMRC) is reminding people.

UK Taxpayers can use the quick and easy free online checking tool on GOV.UK and register with HMRC by 5 October if they do need to self-assess. Taxpayers can also use it if they think they may not need to complete one this year, also.

Myrtle Lloyd, who is HMRC’s Director General for Customer Services, said: “It's really important taxpayers check if they should complete a Self Assessment tax return so they can pay the right amount of tax owed and avoid penalties for not filing a return, if required. It's quick and easy to check by using the interactive tool on GOV.UK - there is no need to ring us.”

Taxpayers might need to complete a tax return if they:

Are newly self-employed and have earned over £1,000

Have multiple income sources

Have received any untaxed income, for example earning money for creating online content

Earn over £100,000 a year

Earn income from property that they own and rent out

Are a new partner in a business partnership

Are claiming Child Benefit and they or their partner have an income of over £50,000

Receive interest from banks and building societies (more than £10,000)

Receive dividends in excess of £10,000

Need to pay Capital Gains Tax

Are self-employed and earn under £1,000 but wish to pay Class 2 NICs voluntarily to protect their entitlement to State Pension and certain benefits

The online checking tool can also be used by those who may no longer need to do Self Assessment, including if they:

Gave up work or retired

Are no longer self-employed

Earn below the minimum income thresholds

If taxpayers no longer think they need complete a Self Assessment tax return for the 2022 to 2023 tax year, they should tell HMRC before the deadline on 31 January 2024 to avoid any penalties.

Taxpayers can register for Self Assessment on GOV.UK. Once registered, they'll receive their Unique Taxpayer Reference, which they will need when completing their tax returns.

HMRC has wide range of resources to help taxpayers file a tax return including a series of video tutorials on YouTube and a new step by step guide, for anyone that is filing for the first time.

Taxpayers must be aware of the risk of falling victim to scams and should never share their HMRC login details with anyone, including a tax agent, if they have one. HMRC scams advice is available on GOV.UK.