Any businesses that took out a government Bounce Back Loan to get through the coronavirus pandemic will now have greater flexibility in when and how they repay, it has been announced.
The new lockdown means that the team are working remotely but rest assured this won’t have an adverse impact on service levels. We’re confident we can maintain the level of service and customer care we pride ourselves in along with the capacity to support our accountancy clients.
Small businesses are struggling to access essential funding through a Government-backed loan scheme because lenders are blocking their applications. The Government-sponsored bounce back loans scheme was supposed to be a lifeline for businesses struggling to make it through the coronavirus pandemic, but reports suggest that many are struggling to get their hands on essential cash.
With health concerns still prevalent and the economy looking shaky, it might not seem like the ideal time to start a new business.
Along with the uncertainty, however, has come lots of new opportunities. And many brave souls have used the outbreak to plan new ventures and have started working for themselves.
Here are five tips to help get your new business off the ground.
Chancellor Rishi Sunak is reportedly drawing up plans for temporary tax cuts and other measures to help boost the British economy as it emerges from lockdown next month.
Facing a steep recession triggered by the coronavirus outbreak, which could involve high numbers of job losses and business failures, the Chancellor is searching for ways to bolster the economy and boost spending.
It is thought that the Chancellor is considering a range of options, including a VAT cut, a reduction in employers’ National Insurance Contributions and business rates reform.
Coronavirus disruption contributed to an uptick in the number of new business registrations in 2020 and experts predict more of the same this year.
Obviously money isn’t everything when it comes to entrepreneurship. Many people start businesses because they want more freedom or independence or because they are passionate about a side-project or product, but if your new business venture doesn’t make any money, then it’s not going to be sustainable.
So what kinds of businesses are going to make you money? Here is our list of businesses with the biggest earning potential.
Following the latest announcements from Boris Johnson and Nicola Sturgeon, England and Scotland have now joined Wales in new national lockdowns.
The new restrictions mean that people should only leave home for an essential purpose, such as to buy food or medicine. This means that, along with schools, large swathes of businesses now need to close their doors.
While some shops and hospitality businesses will still be able to offer click and collect and takeaway services, they are likely to see a dip in sales. Many other businesses may also see their revenue fall as demand dries up, similar to the first lockdown in March 2020.
To help support businesses through his latest period of uncertainty, the Chancellor Rishi Sunak has announced some additional funding alongside some older schemes that are still open to businesses.
Many business leaders welcomed the Chancellor’s recent statement where he spelled out the Government’s latest plans to support the economy through the coronavirus crisis. The headline announcement was a new Job Support Scheme that will follow the closure of the furlough scheme.
Rishi Sunak said that the new scheme would “support only viable jobs”. Some business leaders complained that it would not be enough to prevent widespread job losses, particularly in hard hit industries like hospitality and tourism.
To help employers make the most of the new scheme, we have answered some of your most important questions below.
A VAT cut in the food, drink and hospitality sectors came into force this week following the Chancellor’s ‘Summer Economic Update’ last week.
Businesses selling food, drink and physical products aren’t too late to get online and take advantage of a boom in eCommerce.
Some of these companies have been the worst affected by lockdown and many have pivoted towards online sales during the coronavirus pandemic. Reopening is now on the horizon for many businesses, but online sales could provide vital income support for companies that think they may struggle over the coming months.