Having thought a bit more about this whilst walking the dog, I'd suggest a "build & test" approach if possible.
I'd look for two USB devices that work when plugged directly into your laptop, the mouse being one
Then I'd plug in the powered hub, and test each device in turn through the hub. If neither works, it's most likely the hub. If one works but not the other then it's more likely to be the device/hub combination
This way you get to identify where the problem lies. If it turns out to be the hub, then as Bruce says you may want to try the BIOS to see if it is set up incorrectly
That is assuming you have two USB devices - digital camera? memory stick given away free? USB powered Christmas lights?