Small businesses blocked out of bounce back loans scheme

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.

New Shopify App to Boost Small Online Sellers

A new consumer shopping app from Shopify could provide a post-coronavirus boost for small-and-medium-sized online sellers in the UK.

Although Shopify isn’t a well known consumer brand, many people will regularly use their technology without realising. This is because Shopify make the technology for anyone to set up and sell their products online.

Cloud Accounting Software: Xero Vs Quickbooks

Business owners need to make sure they have the right tools to manage their finances. When it comes to bookkeeping and accounting, more and more firms are choosing online software platforms over spreadsheets and desktop-based software.

This low-priced software gives business owners the ability to manage their finances from anywhere, with data stored securely in the cloud. But how do you choose which software is right for you.

Political Uncertainty Holding Back Small Business Growth

Survey evidence shows that small firms are struggling to expand, hire and raise productivity as political uncertainty takes its toll on the economy.
Published by the Federation of Small Businesses (FSB), the Small Business Index (SBI) tracks the confidence of and outlook for small businesses in the UK.

Big Firms Could Be Charged in Latest Late Payment Crackdown

Proposals released by Small Business Minister Kelly Tolhurst will make the boards of big companies more accountable for late payments to small businesses.

And, for the first time, large firms could be fined if they don’t pay smaller suppliers on time.

The amount owed in late payments has halved over the last five years, but the government wants to go further to support the nation’s smallest businesses.

What the Chancellor’s Mini Budget Means for Small Businesses

The Chancellor has unveiled a £30bn plan to protect jobs and boost the economy in the wake of the coronavirus pandemic, but what will this ‘mini budget’ mean for contractors’ small businesses in the UK?

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.

Amazon Sellers Could Be Blocked By No Deal Brexit

Revelations from a leaked government document suggest that thousands of online sellers could find their businesses blocked on popular marketplaces in the event of a no-deal Brexit. The news which could leave British Amazon and Google sellers hamstring was revealed when confidential details of the government’s Operation Yellowhammer no-deal contingency planning were leaked to the press.

Open Banking Offers Big Business Opportunities to Small Firms

Open Banking is set to revolutionise bookkeeping, offering to small businesses some opportunities that previously have only been available to bring firms.

Cloud accounting software platform Xero is on the forefront of the changes, promising small firms that they will be able to grow and run their businesses more effectively.

Open Banking is set to be introduced for all Xero customers from September 2019, so we thought that we would take an in-depth look at the changes and how they can benefit small and medium sized businesses.

Think Tank Calls for Single Consolidated Tax on SMEs

The Centre for Policy Studies has proposed a new simple consolidated tax (SCT) to replace the four main taxes currently paid by small and medium sized firms.

The radical proposal would see corporation tax, employer’s national insurance, VAT and business rates consolidated into one tax paid by firms turning over less than £1 million.

Small businesses are the heartbeat of Britain’s economy. Some 5.6 million small firms employ around 13 million people and generate three-quarters of all new jobs.

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