Federation of Small Businesses: What You Need to Know

You’ve probably heard of the Federation of Small Businesses, but do you know what they actually do or the benefits they provide? Don’t worry if you don’t, we’ve summarised everything you need to know about the Federation of Small Businesses in this blog post.

Normal Small established the Federation of Small Businesses (FSB) in 1974, as the National Federation of Self Employed, to represent small and medium sized businesses. Its creation was a response to the proposed increase of Class 4 National Insurance contributions, which greatly impacted self-employed workers, freelancers, and small business owners with additional tax burdens.

FSB is the UK’s leading business campaigner for smaller business growth and success. Their objectives are the following;

  • To deliver a smaller business effective network across the UK
  • To value diversity and inclusion
  • To offer valued services and benefits for businesses
  • To completely represent the smaller business community in the UK
  • To, through all of these measures, be recognised as a trust and influential organisation for business to its highest capacity

Membership of FSB has a wide range of advice, finance, and support benefits. Apart from discounts, offers, and exclusive rates, some of the advantages of being a member are health and safety advice every day at any time to ensure you’re compliant with the legislation, employment protection with a 24/7 helpline and a cover up to £50,000 per claim with barristers and solicitors to represent you, and an online database of a wide variety of legal documents.

Tax investigation protection is another feature FSB offers for members; you are provided with a helpline for tax advice, and with representation should you be under any HMRC investigation. The availability of information and constant aid the FSB provides are highlighted benefits of membership.

As a freelancer, healthcare is an essential, and potentially, a worry. With FSB membership any serious health condition, including depression and stress, is supported by free access to a personal nurse adviser. You can also include an employee or family member in your healthcare provision, for a one-off fee of £250.

When you own a small business, networking is one of your biggest allies. Through FSB’s 186 branches in the UK, members are often invited to exclusive events, often free to attend, where you can connect with other similar businesses and utilise as a platform to get brand awareness and recognition.

Finding the time to do all your tasks from different business areas can be problematic, especially if you are a freelancer. Finding a supportive community, like the FSB, who can aid you to make the most out of your business is essential.

Here at ICS we understand how being able to focus on what’s important, and having peace of mind that your accountancy and administration issues are resolved is essential, which is why we utilise our expertise to provide the highest possible quality of service. For more information on how our small business accountancy services can help you, contact us on 0800 195 3750. Our skilled team is always happy to answer any query you might have.

Alternatively, you can find us on Facebook, Twitter, LinkedIn and Google+ to see our latest news and updates.