Many small business owners assume that exporting is something reserved for larger companies with dedicated sales teams and substantial resources. In reality, advances in technology, online marketplaces and international logistics have made overseas markets more accessible than ever, creating
Major changes are continuing at Companies House as part of the government’s efforts to improve corporate transparency and tackle economic crime. One of the most significant developments is the introduction of compulsory identity verification for company directors and Persons with Significant Control
The government continues to place growing emphasis on supporting smaller businesses through its “Backing Your Business” programme, which is designed to encourage growth, investment and long term resilience across the UK business sector.
The programme brings together a range of
The Government has introduced a landmark new Bill aimed at tackling the growing problem of late payments to small businesses, with ministers describing the measures as the biggest crackdown in more than 25 years.
Late payment remains one of the most significant pressures facing smaller firms,
Taking on your first employee can help a business grow, although it also brings a number of important responsibilities.
Before employing staff for the first time, business owners should consider the following points:
Register as an employer with HM Revenue and Customs before the first
Many business owners spend considerable time focusing on sales growth, staffing and profitability, although basic business risks are sometimes overlooked until a problem arises. A simple review of key risk areas can often help protect both the business and the personal finances of the owners.
One
Many small business owners are already feeling the effects of rising staffing costs, tighter recruitment conditions and increased administration. Recent employment law changes are now adding further pressure, particularly for employers that do not have dedicated HR support.
A number of the changes
Cyber security is no longer a concern limited to large corporations. Increasingly, smaller businesses are finding themselves targeted by phishing attacks, payment frauds and ransomware incidents, many of which are becoming more sophisticated through the use of artificial intelligence (AI).
Recent
Rising costs and economic uncertainty have made cash flow management more important than ever. While many businesses focus on profit, it is cash that determines whether a business can meet its day to day obligations and take advantage of new opportunities.
A sensible starting point is to review how
Rising prices remain a concern for many UK business owners, particularly where energy, materials, labour and finance costs are unpredictable. While it is rarely possible to eliminate cost pressures entirely, a number of practical steps can reduce exposure and provide greater stability when planning