Welcome back to our Weekly Update. We hope you and your family are safe and doing well. Read on for this week’s updates and some ideas that will help us all move forward. Preparing to Exit Lockdown The UK has got COVID-19 back under control, health minister Matt Hancock said as England prepares to exit a national lockdown this week and enter a tiered system of restrictions subject to a… Read more
We cannot stress further the importance of properly managing your cash flow to ensure the smooth running of your business. However, in times of crisis such as the ongoing COVID-19 pandemic, this becomes more than important– managing your cash becomes a necessity for survival. If you are experiencing cash-flow troubles, here are five things you can do to manage your cash flow better. Check your expenses. Now is the perfect… Read more
Welcome back to our Weekly Update. We hope you and your family are safe and doing well. Read on for this week’s updates and some ideas that will help us all move forward. Increase in Online Shopping Eases Pressure on UK Retailers A surge in shopping online has eased the pressure on retailers caused by England’s four-week lockdown and tighter restrictions across the UK, according to a survey from the… Read more
Welcome back to our Weekly Update. We hope you and your family are safe and doing well. Read on for this week’s updates and some ideas that will help us all move forward. UK Economy Grew at Record 15% in Q3 The UK economy grew by a record 15.5% in the third-quarter, according to official data released last week, marking its sharpest quarterly expansion since records began in 1955. However,… Read more
Every small business owner knows how challenging it is to cut down expenses without somehow compromising internal or external quality. Regardless of the nature of your business, the first step to reducing your overhead costs is to take the time to go through every single expense you have. Next, assess which ones are necessary for your business to operate smoothly, what can be trimmed down, and what can be eliminated… Read more
Welcome back to our Weekly Update. We hope you and your family are safe and doing well. Read on for this week’s updates and some ideas that will help us all move forward. Mass Testing For 67 More Areas in England COVID-19 deaths and new cases in the UK have fallen on last week – raising hopes the second wave is beginning to slow. Now, after the launch of a… Read more
So you’ve set up your business and sold some products and services. Now, you have to send an invoice to collect your payment. But what should you include on your invoices in order to get paid faster? Even if you’ve been running your business for a while, you might be missing other information that you should include. So here is a step-by-step guide on what to include on your invoices.… Read more
Welcome back to our Weekly Update. We hope you and your family are safe and doing well. Read on for this week’s updates and some ideas that will help us all move forward. England Back in Lockdown As UK COVID-19 Cases Surge Past One-Million Mark Prime Minister Boris Johnson has announced a second national lockdown for England to prevent a medical and moral disaster. This comes as the United Kingdom… Read more
When customers make a buying decision, they’re not just considering the quality and price of your products or services, they’re also evaluating the ease and convenience of the whole buying process. As a business owner, you should offer different payment options to provide the best customer experience and to ensure you receive timely payments Here are four ways your small business can accept payments in 2020: 1. Credit and debit… Read more
Welcome back to our Weekly Update. We hope you and your family are safe and doing well. Read on for this week’s updates and some ideas that will help us all move forward. UK Economy Slows as Restrictions Hit Travel, Leisure, and Hospitality Business activity has increased so far in October, but at the slowest pace since June, according to data firm Markit. Markit’s Flash UK Composite Output Index was… Read more
In these difficult times, you may find your business slowing down and sales harder to come by. Given this trend, establishing and maintaining connections with existing and potential customers have become more important than ever. So here are some simple tips to help you step up your marketing game: 1. Strengthen your social media presence. With the extended lockdowns and social distancing rules in place, it is the perfect time… Read more
Welcome back to our Weekly Update. We hope you and your family are safe and doing well. Lately, economists have been talking about a “K-shaped” recovery from the current recession. As this article in The Conversation explains, this kind of recovery happens when different parts of the economy recover at different rates. White-collar workers who can more easily work remotely may have an easier and faster path to recovery than… Read more
When you’re a small business owner, you get used to people giving you advice. Sometimes you seek out their insights while other times they share whether you want them to or not. While the advice is almost always well-intended, it’s not always good. In fact, sometimes it’s downright awful. Here are some tips that well-meaning people give to small business owners that definitely should not be followed. 1. Never turn… Read more
Welcome back to our Weekly Update. We hope you and your family are safe and doing well. Read on for this week’s update. UK Unemployment Hits 3-Year High in August UK unemployment hit its highest rate in over three years, rising to 4.5% in the three months to August, according to data released by the Office for National Statistics. The report also showed that the number of people claiming jobless… Read more
When you’re an entrepreneur, your to-do list is often long and constantly growing longer. There are an overwhelming number of things you need to do, and it can feel like they’re all urgent. In such cases, it’s easy to push important tasks to the side and focus on less-vital activities, but that often means you miss deadlines, make mistakes or always feel as though you’re trying to catch up. Here… Read more
Welcome back to our Weekly Update. We hope you and your family are safe and doing well. Read on for this week’s update. New Three-Tier Lockdown Planned for England Last week, restrictions were tightened in northeast England due to the increasing rate of COVID-19 cases in the region. Now, leaked government documents reveal tougher COVID-19 measures that could be implemented locally or nationally. This may include the closure of pubs… Read more
Countries in recession, unemployment rates rising, multiple economic indicators at their all-time lows, increased market volatility– these are just some of the economic impacts we’re seeing as a result of the pandemic. As we continue to battle the COVID-19 crisis, it is important for everyone, especially those who have had their income stream affected, to keep their finances in check and proactively find ways to navigate to recovery. By creating… Read more
Welcome back to our Weekly Update. We hope you and your family are safe and doing well. Read on for this week’s update. New Job Support scheme set to replace furlough Chancellor Rishi Sunak has announced the government’s plan to protect jobs and support businesses in the coming months. Key parts of the announced Winter Economy Plan include: a new Job Support Scheme, an extension of Self-Employment Income Support Scheme,… Read more
Now is the perfect time to evaluate your financial position and come up with innovative ways to add revenue streams and generate cash. Here are five ways you might consider to improve your cash inflow: 1. Evaluate your current company assets. Take a look at your assets, both fixed and human. Could you make slight pivots to create a new form of income? For instance, if you run a coffee… Read more
Chancellor Rishi Sunak has announced the government’s plan to protect jobs and support businesses in the coming months. Key parts of the announced Winter Economy Plan include: a new Job Support Scheme, extension of Self Employment Income Support Scheme, an extension of the VAT cut for hospitality and tourism sectors, and help for more than 1 million businesses in repaying government-backed loans. We break it down for you below, but… Read more