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%).
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[continue reading…]We are still not sure what kind of Brexit we will get. Even assuming a ‘good’ Brexit, will we be thrown into another recession? Will history repeat itself and, if so, what will this mean for start-ups, SMEs, and investors?
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.
A lot of businesses now choose to trade internationally to help their business grow and succeed worldwide. Trading internationally can not only be a great step for your business but can also help you to build your brand awareness and reach more customers. If your business is moving towards international trading then it is important that you know how to reduce your costs to help you save money in the future.
In the most recent Small Business Index carried out for the third quarter (Q3) of 2018, it was found that small businesses are lacking confidence. The research carried out by the Federation of Small Businesses (FSB) on a quarterly basis has seen the confidence of small business plummet for the third time since the Brexit vote. The confidence of the self-employed has also taken a big hit due to the government unfulfilling its promises.
Small businesses are worryingly unprepared for the possibility of a no deal Brexit, research has found. The Federation of Small Businesses (FSB) looked into how small businesses were preparing for the possibility, and the findings show a chaotic picture of the post-Brexit UK. Over 1,200 businesses were part of this research that was carried out this month. The whole country is unsure of what is to come with a no deal Brexit, but small businesses need to have a contingency plan in place to avoid chaos.
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As the possibility of a no-deal Brexit deal increases, what would be the impact on our telecoms if it were to happen? Is it another cause for concern for small businesses or are there some potential benefits?
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In the latest research conducted by the Federation of Small Businesses (FSB), it was found that the self-employed are not very optimistic about the future. The self-employed in the UK are the largest business group, with there being an estimated of 4.8 million sole traders. The FSB are launching a ‘Think Self-Employed’ scheme to rescue the collapsing confidence of the self-employed in the UK.
In the latest Small Business Index (SBI) carried out by the Federation of Small Businesses, it was found that small business confidence has risen again. The confidence of small businesses has hit a one year high, which is great news for the sector across the UK. The steady rise in the confidence portrays a bright future for small firms that remain strong and positive despite adversities.
The investment in the small business sector has fallen, according to the latest Federation of Small Business (FSB) research. The number of small businesses that are planning to invest in the future of their business in the upcoming months, has decreased. This decrease hitting an 18-month high.
Financial markets can be a fickle beast. The success or otherwise of a company, sector, country or region relies a lot on confidence – a factor that is hard to win, tough to maintain and easy to lose. Many factors contribute to a feeling of confidence but one factor that you shouldn’t lose sight of – especially as an international business – is the impact that political events can have on the economy.
According to the latest report by the FSB (Federation of Small Business), confidence among small businesses is bouncing back after the dismal results of the last quarter. These positive results from the quarterly index could be due to the progress in Brexit talks, lower inflation and the positive spring statement.
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Since the referendum, Brexit has impacted small businesses in more negative ways than positive, it has left millions of small businesses with lack of confidence and uncertainty about the future. In a survey conducted by Insolvency Practitioners MGJL to check up on the health of businesses, the results were far from positive, especially regarding the Tech industry.
In a recent survey conducted by the BCC (British Chamber of Commerce), it was found that one of the biggest issues that small businesses are facing is employing workers with the right skills. The small business workforce seems to lack certain skills which can hinder their chances of business growth. One of the factors that affected the confidence of small businesses during the early Brexit negotiations was the worries over the lack of skilled workers. Therefore, business owners together with the government need to create initiatives to upskill the British workforce.
With rising domestic costs, small businesses are really feeling the squeeze and are struggling to survive. In the latest Federation of Small Business (FSB) quarterly Small Business Index, it was found that a record number of businesses are planning to either downsize, sell or close their small business in the upcoming months.
With the year coming to a close, it’s time to look back and reflect, as well as looking ahead. 2017 has been a great year for small businesses which have thrived and stood strong despite uncertainty bought on by Brexit. From the Autumn Budget being small business friendly, to the huge success of Small Business Saturday, small businesses can allow themselves to be optimistic about the upcoming year.
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.
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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.
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Theresa May made a speech at the Conservative party conference, which some have labelled as ‘disastrous’, however she did manage to address the contribution of small businesses to the UK economy briefly.
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