After the hardest year for businesses, the optimism for 2021 is falling short. Small businesses are yet to face even more difficult challenges that may even lead to their closure. A report carried out by Take Payments looked at the challenges small businesses will face in 2021 by looking at 1,000 SMEs in the UK across 19 different sectors. Some of the main challenges expected are the Coronavirus restrictions (35%) and the new Brexit regulations (19%).[continue reading…]
small business news
The Federation of Small Businesses (FSB) has found that the small business confidence has hit the biggest low since the financial crash in 2011. The small business confidence was measured at -9.9, in their Small Business Index (SBI). The uncertainty that comes from Brexit is taking a toll on small businesses in the UK resulting in them being very unsure of what’s to come.
The Federation of Small Businesses (FSB) has carried out research looking at small businesses reaction to new credit. The study carried out had just under a thousand small business participants. One in three of those businesses say that the new credit is unaffordable. It’s making them hesitant to borrow funds, which are vital for growth. These findings come just ahead of Bank of England’s decision to raise interest rates in the UK.
The Brits have started adopting American retail/shopping holidays in the recent years, with Black Friday and Cyber Monday being huge hits with the shoppers. Another retail holiday is making its way in the UK, the Small Business Saturday. It has been inspired by the American Small Business Saturday, which takes place traditionally the Saturday after Thanksgiving. However in the UK, Small Business Saturday will be celebrated in the upcoming weekend, on Saturday 2nd of December.
Once again, Contractors sat yesterday with baited breath to see how the secrets of Philip Hammond’s red box and the Autumn Budget 2017 would affect them. In his first Budget since the government lost their majority in the general election, it was good to hear the Chancellor affirm his commitment to small businesses, recognising them as the backbone of our economy and praising them for their “vibrancy and resilience”.
The first ever Autumn Budget 2017 was revealed by the Chancellor Philip Hammond at the houses of Parliament yesterday. The Budget focused on the finances of the country, and how it will affect the citizens of the country, from small business owners to millennials. The budget has mostly had a positive response, especially from the small business community.
With a new Budget around the corner and just a few months since the last one, 2017 has been a bumper year for Budgets. Following on from the Spring Budget in March, Wednesday the 22nd of November will see the first ever Autumn Budget; but why has the date of the Budget changed and how will it impact your business?
The Brexit negotiations are underway and the movement of EU citizen’s is at the forefront of the debate amongst British businesses. Access to EU workers for many of the UK’s small businesses is critical. George Ide Solicitors explain what UK businesses think of the ‘settled status’ offer proposed by Theresa May.
HMRC are tackling tax avoidance among businesses, and they have set their sights on small businesses in particular because they are seen as the easier target. Small businesses do avoid tax, this could be unknowingly or knowingly, but there are steps you can take to avoid falling foul of HMRC’s tax crackdown.
In a survey conducted by Mediahawk on over 200 SMEs in the UK, it was found that social media plays a huge role in bringing in the highest quality leads and sales to small businesses. Around 62% said that social media marketing was the best form of marketing for them to get the best leads, ultimately pushing their sales. This just shows the importance of social media in the small business sector.