Thanks for having us on the podcast James and JB. Was good to chat to you all. As tough as it is, I’m sure there will be opportunities. A problem is only a problem until you have solved it 😊
An excellent point that we always forget with business. Nobody hires anyone they can't ultimately draw a profit from and that factors in their wage and NI. With these increases undoing ones that where in place a few years ago It will be very interesting to see what happens.
Not what i was expecting from the show but well done!, Its the truth and the extra guests added allot of value. You got different opinions from different business people fantastic!
I could not agree more about a ‘mindset’ of it’s alright for you as you run a business and make a big profit. No one understands about the margin you make. Make a 5% margin and the next tax increases 7% then you are out of business or cutting costs.
So much spot on here. About opening hours, we open our pub on a Monday. Either myself and my wife work it to bring costs down (and have a day off somewhere else) or we give staff more hours and have the day off. We are thinking now of scrapping it and closing Mondays. So instantly this becomes our fixed day off and therefore reducing our payroll budget. Whilst we won’t make income. We are also looking now at getting rid of our popular lunchtime offers which bring people in at a lower cash margin and just opening later in the evening instead. Again this will cut staff hours. Plus closing early until at least the summer as in recent weeks we are back to see people “nursing” pints to stay in a warm pub to save on heating at home but not spending any money. Thursday Night, zero sales between 8pm and 10pm but still had five people till close at 10pm! Business rates extra 3k & NMW/NI extra 9.5k a year if we stand still. We made net profit of 7k last year - something has to give. Expecting the price of a pint to rise between 25p & 50p in April!
So true no choice you do allot of work for 7k! Lower income potential but if you know it as a drain on your running costs just to stay open why would you do that? If you can estimate the income to be less than the running costs, you can't take that hit not fair you got to live too! Everyone else will have to realise it too which will make it the norm over time everyone knows if you want to go to the pub don't go Monday got Friday could become the new mindset and ultimately help you. I guess retaining staff that needs the Monday hours could be harder.
I am very pleased you guys made this. Its been a huge help and was interesting to see most of John's predictions at Business Masterclass came true. Whilst I understand why you dont cover politics in the main podcast, please consider keeping this format for perhaps a monthly / quarterly session.
Hi James, I’m not going to expand my business, it’s all on hold due to the uncertainty with what this government is doing. I’ll wait until mid 2025 to see how things go. By the way I’m a funeral director and in this profession there’s always going to be work. Predictably. Please don’t stop making these videos 👍
The answer is we need businessmen in positions of power that make our country's business decisions! Not these clueless muppets who have never run a business! 😢
Another fun fact is that despite all the tax the government collects from workers it still isn’t enough for the government to waste they need to borrow another pound sterling for every £4 of tax collected.
Alright James, I was around in the 70's trying to do homework before the lights went out! Customer always pays, business owners just spend more time working for the government.
The fundamental problem we have is that there are way too many people employed by the government. I purposely say employ because I would argue that most are not working. I think the proportion of the entire workforce of the UK that “work” for the government is higher than in China. It’s ridiculous. It’s private business that pays for everyone else that works for the government. It’s unsustainable.
So James, if it costing you 2 and half million a year, what are your employee costs over a year? you may need to be a little bit more honest that it is the min wage increase that is really battering you. The min wage increase is annoying to us as business owners but look in the morror and tell yourself you would be living comfortably with about £90 gross for an 8 hour day in the south east of England. This is not a dig as the minimum wage affects a small part of my business but i am small enough to hopefully avoid the NI hikes
James can I come on your pod cast please. I’ve been an entrepreneur for 40 years. Timber merchant, kitchen retailer and now commercial and industrial property. Please let me know.
Funny episdoe despite the serious topic. Well done. FWIW, On one hand, I think more single entities will call it a day but I also think that there will be a forced rise in self-employment due to the increased cost of officially employing someone on PAYE.
Every podcast or show where people hate this budget never provides an alternative. We've tried cutting everything and now everything is broken. We tried huge tax cuts funded by borrowing and the economy crashed. We voted Brexit which has kneecapped growth and outside investment in the UK So now we're taxing more. I don't like the high taxes, but how else do you fix a country with a 14 year long backlog of poor investment and services?
Well they’re definitely going to have less to invest now. As you tax companies more they stop investing and move operations elsewhere. Lower taxes can create more revenue. IMO government are not good at investing tax payers cash as they operate for such a short period of time. Since I have been in business our country has had 8 CEO’s which we call Prime Ministers. My company in that time has had me therefore we can think with a long-term view. Short term thinking and punishing those that risk take is not the way forward IMO. I don’t think everything is broken, sure it’s not perfect but it’s way better than other parts of the world. My alternative is this. Let hard work and risk taking pay. Reform the NHS - it’s become an absolute burden on the coffers. Tax profit not turnover De regulate Cut red tape Do world trade deals Make entrepreneurs the top priority so they create jobs and prosperity to pay for services. Entreprenuers are being punished for being creators and it’ll come back to bite. It’s super sad.
@jamessinclairspodcast agree with many of your points. Though NHS reform (i.e. not 100% free at the point of use) is a vote loser, no politician would put their name to that. I think gov incentives for businesses who invest into future growth, leading to hiring or the advancement of industry / tech would be amazing. Taxes on turnover are a killer outside of B2B, 100% agree with you there, it doesn't make any sense! I do think everything is broken though and screaming out for investment. I know teachers in state schools buying stationary just so the class can run, as the school is skint. We're between a rock and a hard place. A sad time indeed
can you breakdown the government spending of taxpayers money, there ROI and so we can hold these people to greater efficiency, i.e. 1 trillion of revenue a year, where do we want them to be more efficient, and where can we demonstrate the waste before they waste it and say we want transparency and we want you to save that, regarding infrastructure projects, here's the key 'add up the cost of raw materials which go into projects and the rest is labour, consultants and changes to the design, delays, demobilization, cancellation of projects, chelmsford Borough Council, just wasted £27M on North east chelmsford bypass through delays/ cancellations maybe you can investigate this and see what caused this and if true, That's tax payers money for a penalty of not following through with a project' not asset or return om investment for 27m, we all chipped 27m and got what to show for it? maybe it was a grant that was not collected,
We give millions in foreign aid to places like idia who not only have a larger economy than us but have their own space programme. We have hundreds of quangoes, basically paying non government businesses to do beurocracy. We soend 15 million a day on hotels for illegals. The list goes on but it's easily 50% of the tax take gets wasted on things that either don't help or actively make our loves worse.
Thanks for having us on the podcast James and JB. Was good to chat to you all. As tough as it is, I’m sure there will be opportunities.
A problem is only a problem until you have solved it 😊
An excellent point that we always forget with business. Nobody hires anyone they can't ultimately draw a profit from and that factors in their wage and NI. With these increases undoing ones that where in place a few years ago It will be very interesting to see what happens.
G'day Campers. Hello from AUS. Have a great week lads.
Not what i was expecting from the show but well done!, Its the truth and the extra guests added allot of value.
You got different opinions from different business people fantastic!
Really enjoyed this episode. One of your best.
I could not agree more about a ‘mindset’ of it’s alright for you as you run a business and make a big profit. No one understands about the margin you make. Make a 5% margin and the next tax increases 7% then you are out of business or cutting costs.
Next level podcast 🙌🙌 Definitely going to watch this several times to take it all in 👌
This has been an excellent episode, thanks gents!!
One of your best, well done to everyone involved.
So much spot on here. About opening hours, we open our pub on a Monday. Either myself and my wife work it to bring costs down (and have a day off somewhere else) or we give staff more hours and have the day off. We are thinking now of scrapping it and closing Mondays. So instantly this becomes our fixed day off and therefore reducing our payroll budget. Whilst we won’t make income. We are also looking now at getting rid of our popular lunchtime offers which bring people in at a lower cash margin and just opening later in the evening instead. Again this will cut staff hours. Plus closing early until at least the summer as in recent weeks we are back to see people “nursing” pints to stay in a warm pub to save on heating at home but not spending any money. Thursday Night, zero sales between 8pm and 10pm but still had five people till close at 10pm! Business rates extra 3k & NMW/NI extra 9.5k a year if we stand still. We made net profit of 7k last year - something has to give. Expecting the price of a pint to rise between 25p & 50p in April!
So true no choice you do allot of work for 7k! Lower income potential but if you know it as a drain on your running costs just to stay open why would you do that?
If you can estimate the income to be less than the running costs, you can't take that hit not fair you got to live too!
Everyone else will have to realise it too which will make it the norm over time everyone knows if you want to go to the pub don't go Monday got Friday could become the new mindset and ultimately help you.
I guess retaining staff that needs the Monday hours could be harder.
Fantastic POD. Great to hear insight from your guests.
I am very pleased you guys made this. Its been a huge help and was interesting to see most of John's predictions at Business Masterclass came true. Whilst I understand why you dont cover politics in the main podcast, please consider keeping this format for perhaps a monthly / quarterly session.
Great episode, thanks chaps.
this was fantastic thanks guys!
1:01:30 Good for you JB !!
Absolutely loved this episode. Thank you for sharing
Hi James, I’m not going to expand my business, it’s all on hold due to the uncertainty with what this government is doing.
I’ll wait until mid 2025 to see how things go.
By the way I’m a funeral director and in this profession there’s always going to be work. Predictably.
Please don’t stop making these videos 👍
Thank you for this pod cast, very interesting
The answer is we need businessmen in positions of power that make our country's business decisions! Not these clueless muppets who have never run a business! 😢
I think a lot of business owners will start employing people from work agencies ,because of the employment rules changes.
James S - you need to help JB out and kick start him into a new business.
Another fun fact is that despite all the tax the government collects from workers it still isn’t enough for the government to waste they need to borrow another pound sterling for every £4 of tax collected.
Thank you🎉
Alright James, I was around in the 70's trying to do homework before the lights went out! Customer always pays, business owners just spend more time working for the government.
the squirrel fact is brilliant!
The fundamental problem we have is that there are way too many people employed by the government.
I purposely say employ because I would argue that most are not working.
I think the proportion of the entire workforce of the UK that “work” for the government is higher than in China.
It’s ridiculous.
It’s private business that pays for everyone else that works for the government.
It’s unsustainable.
So James, if it costing you 2 and half million a year, what are your employee costs over a year? you may need to be a little bit more honest that it is the min wage increase that is really battering you. The min wage increase is annoying to us as business owners but look in the morror and tell yourself you would be living comfortably with about £90 gross for an 8 hour day in the south east of England. This is not a dig as the minimum wage affects a small part of my business but i am small enough to hopefully avoid the NI hikes
James can I come on your pod cast please.
I’ve been an entrepreneur for 40 years.
Timber merchant, kitchen retailer and now commercial and industrial property.
Please let me know.
Funny episdoe despite the serious topic.
Well done.
FWIW, On one hand, I think more single entities will call it a day but I also think that there will be a forced rise in self-employment due to the increased cost of officially employing someone on PAYE.
Kick out Labour,Rachel Thieves and two tier Kier.
By far the biggest cost in anyone's life is government
NO More OPs Two DO the BIS?
are we on the park James's?
Scrap IHT and tax the beneficiaries
17 mins 35 secs Miliband will be better off because he is charging himself for information on renewable energy
Every podcast or show where people hate this budget never provides an alternative.
We've tried cutting everything and now everything is broken. We tried huge tax cuts funded by borrowing and the economy crashed.
We voted Brexit which has kneecapped growth and outside investment in the UK
So now we're taxing more. I don't like the high taxes, but how else do you fix a country with a 14 year long backlog of poor investment and services?
Well they’re definitely going to have less to invest now. As you tax companies more they stop investing and move operations elsewhere.
Lower taxes can create more revenue.
IMO government are not good at investing tax payers cash as they operate for such a short period of time. Since I have been in business our country has had 8 CEO’s which we call Prime Ministers. My company in that time has had me therefore we can think with a long-term view. Short term thinking and punishing those that risk take is not the way forward IMO.
I don’t think everything is broken, sure it’s not perfect but it’s way better than other parts of the world.
My alternative is this.
Let hard work and risk taking pay.
Reform the NHS - it’s become an absolute burden on the coffers.
Tax profit not turnover
De regulate
Cut red tape
Do world trade deals
Make entrepreneurs the top priority so they create jobs and prosperity to pay for services.
Entreprenuers are being punished for being creators and it’ll come back to bite.
It’s super sad.
@jamessinclairspodcast agree with many of your points. Though NHS reform (i.e. not 100% free at the point of use) is a vote loser, no politician would put their name to that.
I think gov incentives for businesses who invest into future growth, leading to hiring or the advancement of industry / tech would be amazing.
Taxes on turnover are a killer outside of B2B, 100% agree with you there, it doesn't make any sense!
I do think everything is broken though and screaming out for investment. I know teachers in state schools buying stationary just so the class can run, as the school is skint.
We're between a rock and a hard place. A sad time indeed
There need to be more videos on this after the looney budget
pretty sure if you was to purchase a maltease passport and register your companys there you would save a fortune.. this countrys becoming stupid
It's been obvious you've grown too quickly
Entrepreneurs picking up the government’s bill for paying for the lazy brigade over covid
can you breakdown the government spending of taxpayers money, there ROI and so we can hold these people to greater efficiency, i.e. 1 trillion of revenue a year, where do we want them to be more efficient, and where can we demonstrate the waste before they waste it and say we want transparency and we want you to save that, regarding infrastructure projects, here's the key 'add up the cost of raw materials which go into projects and the rest is labour, consultants and changes to the design, delays, demobilization, cancellation of projects, chelmsford Borough Council, just wasted £27M on North east chelmsford bypass through delays/ cancellations maybe you can investigate this and see what caused this and if true, That's tax payers money for a penalty of not following through with a project' not asset or return om investment for 27m, we all chipped 27m and got what to show for it? maybe it was a grant that was not collected,
We give millions in foreign aid to places like idia who not only have a larger economy than us but have their own space programme. We have hundreds of quangoes, basically paying non government businesses to do beurocracy. We soend 15 million a day on hotels for illegals. The list goes on but it's easily 50% of the tax take gets wasted on things that either don't help or actively make our loves worse.
@@quillo2747 NHS is extremely wasteful. DEI waste of time. Lots of money wasted on Net Zero. Too many civil servants. Too many on benefits.
"If show me your friends and I will tell you who you are" was a group of relatable people, it would be this bunch
JB was acting like a Tw@tt
First 😂
I've dealt with the great.gov team for exporting and the support is just..well the service may as well not be there