Report from the National Vice Chair, Internal Affairs

“The business recognises that climate change is a real issue and found new and innovative ways of connecting due to the pandemic which further reduced its carbon footprint.“

FSB has continued to focus on the quality of its offering and service to members, and retention rates have remained strong. As a result, income from subscriptions and joining fees remains FSB’s most significant source of revenue. It was a further year without subscription increases, with the aim of supporting our members at a vulnerable time for many of them.

Investment in development of the business has continued during the year, however costs have been well controlled and total administrative expenses have reduced. FSB generated a surplus and remained cash generative during the year, further strengthening the balance sheet. The first version of the FSB App was launched in November 2020 giving members access to account details, events and services. Further investment in a new contact centre management infrastructure has enabled the business to be more efficient and customer-centred providing the customer service team with the capability to manage more than 80,000 member calls during the financial year. Our magazine, First Voice, further developed and launched a new First Voice podcast series, which attracted a combined audience of over 40,000 people, as well as a new YouTube channel, which attracted 60,000 views. FSB continued to focus on equality, diversity, and inclusion (EDI) having seen the establishment of member training programmes and volunteer-led networks. This will help to ensure that the business remains representative of the UK’s small business and self-employed community. The business recognises that climate change is a real issue and it addressed this in the last year by commissioning an internal carbon footprint survey and by recycling tech equipment in the most sustainable and responsible ways. The business found new and innovative ways of connecting due to the pandemic which further reduced its carbon footprint. The introduction of a new business communication platform in March 2021 has enabled even better internal contact and collaboration across the organisation in a more efficient and sustainable way. To strengthen our governance, the organisation established a scrutiny body to act as a critical friend to the Board in assessing its performance and effectiveness. Its overall purpose is to obtain assurance on behalf of our members that the strategic direction of FSB is in line with the principles and objectives set out in our constitution. FSB is at an exciting stage of evolution following the changes our members approved at the last Annual General Meeting, whereby our directors and members of the national scrutiny body are now selected based on merit to ensure the best possible mix and breadth of skills, expertise and knowledge on both bodies.