Small businesses often keep it in the family. If a company owner dies suddenly, their shares can end up going to a family member outside of the business. For the other business partners, the consequences can be catastrophic. The company could be sold off to someone outside of the family or end up in the
There are many upsides to owning a small business. Autonomy, control, creativity and the knowledge you’re working for yourself are just some of them. But running a business, particularly during the first few years, is hard work. There are long days, few opportunities to take a break, and little downtime. This can lead to burnout
According to reports published in Computer Weekly on 25 July 2019, a growing number of UK small and medium sized businesses (SMEs) are switching banks. The data shows that in Q2 2019 twice as many SMEs used the Current Account Switch Service (CASS) when compared with the same period in 2018. CASS is operated by
New research shows that small businesses that deal with exports and international trade are not unduly concerned about the possibility of a no-deal Brexit. With the UK’s new Prime Minister Boris Johnson increasingly taking a no-deal stance on Brexit, it’s interesting to note that small businesses are more concerned by the global economic slowdown and
Innovative businesses in the UK could benefit from a cash boost of £125 million. From this total, £100 million is available in Government grants for research that is deemed pioneering. The remaining £25 million as loans for the commercial aspect of transforming ideas into reality. Any size of UK businesses, including SMEs, can compete to
If you’re in the business world, you will have heard of crowdfunding. An increasingly popular way of raising money for charity, crowdfunding moved into the mainstream a few years ago. By 2011, equity crowdfunding became available for small businesses, start-ups and entrepreneurs to raise capital. Here’s everything you need to know about raising money for
Making Tax Digital (MTD) is a new initiative from the Government aimed at simplifying the tax process for businesses and individuals. And a new survey says that more than 10% of all businesses in the UK are totally unaware, and therefore unprepared, for this new tax requirement. What is Making Tax Digital (MTD)? Through MTD
Small business tax can seem complicated and is certainly not one of the most exciting aspects of launching a new business. However, it’s important to understand what you need to do to comply with your tax obligations. We’ve collected details on the main small business taxes that apply in the UK. You’ll find links to
Retaining and incentivising key employees should be a priority for small and medium sized business owners. And one of the best ways to effectively do so is through a share option scheme. Share options are tax efficient for both the employees who will benefit, and the company itself, making them a sensible option. However, it’s
While Amazon may not immediately spring to mind as champion of small businesses, the multinational behemoth has shifted focus over recent years. And this is in recognition of the growing gig economy. As part of this drive to integrate small business owners into its overall business model, Amazon is teaming up with Enterprise Nation in
