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Here are some excellent resources for your business


For a successful business, you need a viable business idea, the skills to make it work and the funding. Discover whether your idea has what it takes.

Forming your business correctly is essential to ensure you are protected and you comply with the rules. Learn how to set up your business.

It is likely you will need funding to start your business unless you have your own money. Discover some of the main sources of start up funding.

Businesses and individuals must account for and pay various taxes. Understand your tax obligations and how to file, account and pay any taxes you owe.

Businesses are required to comply with a wide range of business laws. We introduce the main rules and regulations you must comply with.

Learn why business planning is an essential exercise if your business is to start and grow successfully, attract funding or target new markets.

Marketing matters. It drives sales and helps promote your brand and products. Discover how to market your business and reach your target customers.

Some businesses need a high street location whilst others can be run from home. Understand the key factors from cost to location, size to security.

Your employees can your biggest asset. They can also be your biggest challenge. We explain how to recruitment and manage staff successfully.

It is likely your business could not function without some form of IT. Learn how to specify, buy, maintain and secure your business IT.

Few businesses manage the leap from start up to high-growth business. Learn what it takes to scale up and take your business to the next level.

Can micro-businesses survive after furlough?

8 December 2020

New figures reveal that almost one fifth of workers in the UK's smallest businesses were still on furlough at the end of September, raising fears that many firms will find it hard to survive once the scheme ends.

The latest data from HMRC shows that micro-businesses are significantly more reliant on the furlough scheme than larger firms. As of 30 September, 19.9% of eligible workers in micro-businesses (1-9 employees) were on furlough, compared to 8.3% for medium-sized enterprises (50-249 employees) and just 3.8% of large firms (250+ employees).

The data shows that micro-businesses have also struggled to get staff off furlough compared to larger firms. The latest HMRC figures show that in large businesses the number of eligible furloughed employees was 81% lower in September than the peak in May. By comparison, 788,200 eligible employees in micro-businesses were furloughed at the end of September, only 61% lower than the April peak of 2,024,900 staff.

Many of the UK's smallest firms have had to furlough staff a second time during the recent lockdown. Charmaine Silver, owner of Nottingham-based cleaning business Crystal Shine Cleaning Service, said: "I have eight people in my business, including myself. I put four of them on furlough at the start of the first lockdown and then brought everyone back in June. We'd lost a lot of our clients and were in the process of trying to build the business back up, but then the second lockdown hit. A lot of our clients went into hiding and I had to put my staff back on furlough."

SME loan provider iwoca has raised concerns about the ability of micro-businesses to recover from the COVID-19 pandemic compared to larger firms due to a greater reliance on the furlough scheme and a lack of confidence in seeking financial support.

It has highlighted new SME Finance Monitor data for Q3 2020 which shows that confidence in loan applications for micro-businesses has dropped by a third compared to this time last year, with only 41% anticipating success. The confidence measure for the three months to August 2020 hit a historic seven-year low of 34% and was almost halved since Q3 2019 when 64% believed their application would be accepted.

Christoph Rieche, ceo and co-founder of iwoca, said: "The gap between the demand for finance from micro-businesses and their expectation of success for raising it is alarming. Many businesses have not been able to access funding via the Bounce Back Loan Scheme and need urgent support."

Written by Rachel Miller.

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