Wokingham Borough Connect
Budget summary for SMEs
The Chancellor has delivered his Spring Budget. Here is a highlight of what concerns small and medium businesses (SMEs) most:
Research and Development (R&D)
A new R&D scheme has been announced for 20,000 SMEs in the UK. It is coming in from 1 April 2023 and worth around £500 million per year.
The scheme is targeted specifically at loss making R&D intensive SMEs, focusing support towards those most impacted by the rate changes introduced at Autumn Statement 2022.
Simpler Tax System
A series of administrative changes to simplify the tax system to make it easier for small businesses to interact with. There will also be a number of consultations to pave the way for future reform, including:
- A commitment from HMRC to deliver a systematic review of guidance and forms for small businesses.
- A consultation to simplify calculating income tax for smaller, growing sole traders.
Energy Bills Discount Scheme (EBDS)
After the Spring Budget, the Government has announced further details of the EBDS which was initially announced in January. The scheme is running from April 2023 to March 2024 for eligible non-domestic consumers.
The EBDS will be established in regulations made under the Energy Prices Act 2022. The regulations are expected to come into force in late April 2023 and the scheme will not be finalised until then. However, the discount will apply to bills from 1 April 2023.
Craft Brewery gears up for the community
This month's spotlight falls on Siren Craft Brew, a family-owned modern craft brewery based in Finchampstead, which creates beers with a whole host of aromas, flavours, colours and textures.
Siren Craft Brew runs a tap yard on site where you can sample their brewery fresh beers on draught and take away cans of their core range and special releases. In the week, the team serve hand stretched sourdough pizza while on Friday nights and Saturdays, street food vendors serve delicious food to their guests.
Siren also owns the George & Dragon Pub, based in Swallowfield serving traditional pub food with rotational local specials sourced from their independent suppliers. The team focus on high quality, seasonal items throughout the menu and even incorporates their beers within the dishes furthermore emphasising the local approach.
Both their hospitality businesses have private spaces for use by the local community for free, whether that being family occasions or business meetings.
Businesses can support the 2023 Bikeathon
The Wokingham Bikeathon 2023 is now seeking offers of business sponsorship or volunteering on the event day.
Run by a small committee, the Wokingham Bikeathon was first held in 2008 with just 143 riders. It then went from strength to strength with nearly 1,000 riders in recent years. The team were delighted in 2022, after a two-year COVID break, to welcome back over 600 riders.
The 2023 event will take place on Sunday 11 June. It will start and finish at the Cantley Park Recreation Ground. As a not for profit organisation, it is run by volunteers and supported by local businesses, charities and community groups, so why not put together a team from your business to support this meaningful event?
For information about sponsorship opportunities, email Bikeathon.
Do you offer work experience?
We know a number of our partners are interested in or actively supporting work experience placements.
We want to have a better picture of the local business community currently offering placements, have already done so or considering it in the future.
Please feel free to get in touch. We would also be interested in your experience of the work placement process.
New free bike hire scheme will deliver the goods
Businesses in Wokingham Borough, especially those carrying out multiple short trips, now have a chance to try doing their deliveries on a special electric bicycle instead of driving.
These Urban Arrow models can carry between 300 and 600 litres of cargo and have a range of up to 45 miles, with a top assisted speed of just over 15mph, so can replace small delivery vehicles in many cases.
They have a lockable storage box attached and can be charged from the mains in about three hours. They offer a more convenient way for couriers to travel, with less waiting in traffic, and help businesses stand out from the crowd with their unique appearance.
They don't emit carbon dioxide or other air pollutants, making them far more environmentally friendly, while the electric motor ensures trips require less pedalling than a regular bike.
My Journey Wokingham, our active travel team, have taken delivery of two Urban Arrow e-cargo bikes and want to loan them out free of charge on a trial basis for periods of either two or four weeks. To find out more, click the blue button below.
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