IN THIS ISSUE:

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DID YOU KNOW

New Guide to Data Protection

The Information Commissioner’s Office has released a new
publication “The Guide to Data Protection” outlining the data protection basics and giving
organisations practical advice.  The launch of the new Code follows consumer research
conducted earlier this year which found that 71% of respondents did not properly read or
understand privacy policies and 62% would prefer a more straightforward explanation of how
their personal data would be used by organisations.

If you collect or hold information about an identifiable living individual, or if you use, disclose,
retain or destroy that information, you are likely to be processing personal data, and you must
comply with the Act and handle the personal data in accordance with the data protection principles.

If you collect personal data in the course of your activities, then in nearly all cases you must
register with the ICO as a data controller.   There is a small fee required and you are asked to
list all activities for which you hold and collect data, and the type of data subjects you will
hold information on.

You should also provide a “privacy notice” that lists of uses of the data and clearly states the
entities to whom you will pass data to (failure to mention group companies and other third
parties to whom names and contact details will be passed for marketing purposes is a common
mistake).

Anyone who processes personal information must comply with eight principles, which make
sure that personal information is:
- Fairly and lawfully processed
- Processed for limited purposes
- Adequate, relevant and not excessive
- Accurate and up to date
- Not kept for longer than is necessary
- Processed in line with your rights
- Secure
- Not transferred to other countries without adequate protection

The Act provides an exemption from notification for organisations that do not process
personal information on computers and those that process personal data only for:
– staff administration (including payroll)
– advertising, marketing and public relations (in connection with their own business activity)
– accounts and records

The Guide can be viewed here:  http://www.ico.gov.uk/upload/documents/library/data_protection/practical_application/the_guide_to_data_protection.pdf

http://www.ico.gov.uk/upload/documents/library/data_protection/practical_application/the_guide_to_data_protection.pdf

BLOG POST

Apple’s iPad – do we really need it?

Steve Jobs unveiled the new, 1.5 pound tablet at a press event on January 27.  It has a 9.7 inch screen, built-in Internet connectivity, 10 hours battery life and is a universal computing device that can play music, movies and video games, show pictures and hold a library of books. It is clearly positioned between the iPhone and its Macbook laptop, and to target the netbook and e-book reader market. 

But will consumers buy into the idea of a universal device?  It is not yet clear how most of us will answer the commercially essential question: “Why do I need one?”  Read more…

BUSINESS TIP

How to manage multiple project proposals well?

It is a difficult time for many freelancers and companies to secure new contracts.  You must get as many interests from potential customers as you can and manage them well so that you get fully booked but never forced to disappoint a  good customer by declining an agreed project or failing to deliver on time due to over-booking. 

Here are some tips on how to manage contract negotiations for a successful outcome:

1) Don’t narrow your field of opportunity while searching for clients

2) Once you start getting serious interest from potential customers, list the pros and cons of each opportunity

3) Buy some extra time if necessary before making your selection/decision on the project you will focus on

4) Be upfront and honest when it comes to dealing with other parties and negotiating terms

5) Avoid promising to do a job and then backing out

6) Politely follow up with those you decide to reject

7) Remember, in day-to-day life a commission becomes real when it’s in writing, and particularly with smaller companies, there is always a ‘default risk’ on their part until they actually start paying you.

READ ABOUT IT

TOP STORIES

Government Extends Loan Guarantee Scheme

The Enterprise Finance Guarantee (EFG) facility will support up to £500 million of bank loans to viable businesses between April 2010 and March 2011 which lack the collateral or track record to obtain normal commercial loan.   It is available for firms with an annual turnover of up to £25m, looking for loans of up to £1m for a period of up to 10 years.

Since the launch of the EFG scheme in January 2009, more than 6,850 businesses have been offered loans totalling more than £692 million and applications from almost 9,000 SMEs have been received.

Story Links:  http://www.wired-gov.net/wg/wg-news-1.nsf/lfi/DNWA-7YLEEN 

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Free help for smaller companies to bid for government contracts

A free online public procurement course was launched by Learndirect  to help smaller firms bid for the £220 billion of public sector contracts.  The course, ‘Winning the Contract’, shows participants how to identify business opportunities to supply goods and services to the public sector, explains the public procurement process, and demonstrates how to submit tenders. It has helpful hints and tips to guide and inform businesses on the bidding process, and where to find public sector contract opportunities.

The course takes a maximum of 3 to 4 hours and can be taken section by section as time allows.  Businesses can register to access the ‘Winning the Contract’ course free of charge the by clicking:  http://www.businesslink.gov.uk/procurement

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Penalties are increasing!

Companies House brought forward the dates for filing private limited company accounts by a month and now need to be filed within 9 months of the year end.  If the accounts are filed late then the following penalties apply:

Late by:

- Less than 1 month:  £150

- More than 1 month but less than 3 months:  £375

- More than 3 months but less than 6 months:  £750

- More than 6 months:  £1,500

There will be new PAYE penalties for late payment as well from 6 April 2010.  From 1 April 2009 there are also significant changes to the penalty system for inaccurate tax documents and returns across the main taxes.  Under the new system, if you take reasonable care to get your tax right, HMRC will not penalise you, even if you make a mistake.  Taking reasonable care includes:

• keeping accurate records to make sure your tax returns are correct
• checking what the correct position is when you don’t understand something
• telling HMRC promptly about any error you discover in a tax return or document after you’ve sent it

If you don’t take reasonable care HMRC will penalise inaccuracies. Telling HMRC about inaccuracies will substantially reduce any penalty due, in some cases to zero.

Story link:  http://www.hmrc.gov.uk/about/new-penalties/