On the 23rd of March, UK Prime Minister Boris Johnson announced the closure of non-essential shops and services as part of a lockdown. This has resulted in severe downward pressure on the economy. Latest figures reveal the economy contracting by 2% in the first quarter of 2020, the fastest since the financial crash of 2008. Amidst this economic halt, studies reveal that it is the smaller businesses that are the hardest hit.
The government has recognised the immense financial pressure on small business owners and unveiled loans and other schemes to help. Below is a summary of the financial aid available and their terms and conditions.
From Apps that compile photos of all your receipts to those that make sure you’re paid on the date you specify, keeping on top of your company books can be so much easier than you think.
Using specific Apps for your accounting means you can perform most tasks while on the go, meaning you can tear up that To Do list you’re always having to update.
Business technology has come a long way over the past couple of decades.
Technology used to be fun gadgets, but now we’re seeing innovative technological processes that change the way we live our lives!
The business world has been completely revolutionised by technology.
It is responsible for the majority of transactions, security and communications (among many other vital processes).
Yet, internet speed can hinder a businesses ability to perform necessary daily functions.
The UK only ranks 45 (globally) for world-wide internet speed and it is small businesses who suffer the most from the critically slow internet.
More than half of all small businesses don’t have access to high speed internet, which means they could be losing out on £23,000 a year.
Technology in small business is very different to the larger companies, as accessibility is often a major issue.
And because we live in an increasingly internet-run world, without access to fast internet speed and relevant business technology, small businesses will surely be left behind.
For many small businesses the idea of instantly losing revenue by firing a client sounds bad. But in the long run it makes perfect sense – and will probably end up actually saving you money. That’s because often the reason you need to fire a client is because they are...
Most self-employed individuals dread the thought of having to sit down and fill out a tax form– to the extent many leave it to the week or day before it’s due in.
Don’t let that be you! Reading the following tips should help make sure it isn’t.
Plumbers, doctors, hairdressers, graphic designers and copywriters – anyone who is self-employed, in fact, should be aware of the importance of January 31, 2020.
That’s the date when online income tax returns for the year 2018/19 must be filed by. Failure to do so means a fine of £100 – even if you’re just one day late.
For many small businesses, cash flow is essential. That means getting paid on time so that you’re not facing overdraft charges, or are unable to pay crucial bills on a regular basis.
Not only does this cause hassle that you have to deal with, meaning time-out from your business, but it can also impinge on your ability to get future finance from your bank or building society. And that’s not good for the long-term picture as far as your business is concerned. As a result, we’ve listed five ways right here that you can make sure that money continues flowing into your bank account
If you are planning to hold an annual Christmas office party this year, don’t forget about the tax exemptions you are entitled to. You can easily save some money on your tax bill, but you have to ensure you follow the rules, otherwise you could end up missing out. Here’s what you need to know about annual parties and tax exemptions.
If you run a small business, one thing you’ll want to get right is your taxes. You don’t want to avoid paying any taxes you should be paying; but you don’t want to pay more than you need to either, which can hurt your profitability. You can start by avoiding these five classic small business tax mistakes.
Launching a new startup is an exciting time for anyone. But startups will nearly always need some funds in order to get up and running, so how can you fund your startup? Here are seven options to consider.