Small firms need NIC holiday, says REC

Date: 1st November 2011

Small business owners operating in the UK could be among those interested in the recent calls of one expert regarding National Insurance contributions (NICs).

According to the Recruitment and Employment Confederation (REC), small businesses should be exempt from their NIC obligations with regard to young workers for one year.

In a call to business minister Mark Prisk, the organisation said this will boost employment and allow smaller enterprises to realise their growth ambitions.

Kevin Green, the REC's chief executive, explained: "Tangible measures are urgently needed and it is hugely encouraging that the NICs proposal is now supported by other leading business bodies.

"Recruiters are up for making a difference by working with schools and colleges in raising awareness and aspirations amongst future generations of workers."

In other news, the government recently revealed that £950 million worth of investment has been made available through the Regional Growth Fund.

This money is expecting to boost the UK economy by creating and safeguarding up to 200,000 jobs.

Posted by Emily Smith