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.
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Small Business News
Starting up and running a business is no easy task. Although it is a rewarding venture, which enables you to be your own boss and put entrepreneurial skills to use, there are certain problems you will likely face. Here are the top three problems that are affecting small businesses in the UK right now. If you are business owner, you are likely aware and if you are thinking about starting a business, its important to take these problems into consideration.
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Lendable, a peer-to-peer lending platform is becoming increasingly popular and growing at an incredible rate to rival its competitors.
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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.
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Millennials are the largest living population, and this group includes anyone born from 1981 to 1997. The generation has been widely misunderstood, and reports show that they are the most difficult demographic to engage. As millennials are such a huge part of society, it’s worth investing time to get to know them as prospective customers and perhaps tailor marketing strategies to suit their needs.
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Today, Friday 15th September is the National 4pm Finish Day. Getting to start your weekend an hour early and making this campaign a legitimate thing has never been more prominent. Kudos to Red Bull for getting the ball rolling.
Millennials are definitely making their way in the small business sector. In the 9th annual DNA of an entrepreneur report by Hiscox, one of the most encouraging findings from the report were on the positive outlook of millennials. The group dubbed the ‘most entrepreneurial’, could be paving the way for a brighter future for small businesses.
The federation of small business (FSB) is hosting another year of small business awards. The awards will highlight and celebrate all that small businesses have contributed to the economy and the UK as a whole.
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Will there be a mass migration of foreign talent or will such employees still be able to feather their nests in the UK? The plight of foreign workers and whether they will be in a position to remain in the UK post Brexit, or whether they will be forced to leave, is amongst the most topical discussions concerning Brexit.
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2016 hasn’t been the best year for British business. From the sale of Tata Steel to the closing of BHS and then of course the mounting uncertainty that the Brexit result has provided, there has been very little good news for those working in a lot of British industries.
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Good news for small business owners as global research from LinkedIn finds that SMEs are leading the way on keeping their staff happy, with the UK’s small businesses currently enjoy the country’s highest levels of job satisfaction.
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In a poll of more than 500 freelancers and small business owners carried out by accounting software firm FreeAgent, nearly a third of self-employed people say they work more than 48 hours per week on their business, and 6% admit to spending more than 64 hours each week working.
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New research from the Federation of Small Businesses (FSB) suggests 52% of small firms have been stung by unfair contract terms with suppliers, costing nearly £4 billion in the last three years.
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On Friday morning small business owners woke up to find out that Britain has voted to leave the EU. Businesses have been divided during the referendum and for many it was a campaign full of unanswered questions, but now the results are in small business owners want to know exactly what it means for them.
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The issue of late payments to SMEs continues to be controversial. The UK government is quick to point out that it led the way in late payment legislation, yet many critics (and business owners) feel that the law is not robust enough to help them.
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Small businesses that have been turned down for finance elsewhere and are desperate for loans are at the mercy of dozens of untrustworthy new lenders charging as much as 5 per cent interest per month, and there are no rules in place to protect them from being swindled.
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In light of new proposals from The Competition and Markets Authority’s (CMA), small businesses should find it easier to compare bank accounts to find the best service and price.
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SMEs are backing the Remain campaign, new data from Close Brothers reveals, but only by a small minority and with many firms still undecided. The research suggests that with just weeks remaining until Britons vote on continued membership of the EU, campaigners for and against Brexit still have much to play for.
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Skills shortages have been a major concern for British business for many years now, and recent research by PeoplePerHour (PPH) has revealed that the problem has reached its peak, with almost two thirds of SMEs admitting that in the last three years they’ve abandoned the search for permanent staff members and have instead turned to freelance and remote workers.
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After last year’s event saw £623m spent with small businesses across the UK on Small Business Saturday, an increase of £119m or 24 per cent on the previous year, the nationwide event to support, inspire and promote small businesses is back for another year.
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