According to estimates from the Centre for Economics and Business Research (CEBR), average set up costs for businesses with less than 100 employees will be approximately 12,600 pounds and businesses with only one to four employees could still expect to pay a whopping 8,900 pounds. Employers will also have to pay contributions of 1% of their employees’ qualifying earnings rising to 3% by October 2018. On top of all this, there’s all the extra administration time, with reports of up to 33 individual administration tasks required to deliver each scheme.
