Payroll furlough tools added to FreeAgent and Xero

The UK’s Coronavirus Job Retention Schemes provides a lifeline for businesses struggling to come to terms with the pandemic.

Eligible employees can be ‘furloughed’ and the government will pay 80% of their pay, up to £2,500 per month. Employers can also top this pay up to 100% if they wish.

You can find out more details about the scheme on the government website.

To make it easier for businesses to access this scheme, Xero and FreeAgent have added new tools to their payroll systems.

Chancellor Revamps Coronavirus Loan Scheme

A loan scheme for small and medium sized firms impacted by coronavirus has been overhauled, making it easier for affected businesses to access funds.

The Chancellor has announced the extension of the Coronavirus Business Interruption Loan Scheme to all viable small businesses affected by the pandemic.

In a statement, the government said the move is intended to maximise the support available, promising that all small businesses will be eligible for a loan, should they need finance to keep operating during this difficult time.

How coronavirus is affecting small online retailers

The coronavirus outbreak has had a huge impact on lives, jobs and businesses. Although many online retailers can continue trading through the disruption, they are by no means immune to the chaos.

Small online shops face a raft of new challenges and barriers to doing business, many of which are causing serious issues for companies.

In this blog post, we identify some of the biggest problems facing small online sellers during the coronavirus crisis.

Your work from home survival guide

Many business owners will be having their first taste of prolonged periods working from home at the moment.
If being at home has put you out of your comfort zone and impacted your productivity, we have put together some useful tips to get you through the working week and help you manage your time more efficiently.