Small Business Finances

Yesterday, 14th June, the Prime Minister confirmed that the current lockdown restrictions (with some small exceptions) will be extended through until at least the 19th July. This is unlikely to be welcome news to many people. Most of us were looking forward to returning to full normality next week, and now have to wait a little longer. So what now for the self employed and small business owners?

As the dust settles on a Chancellor’s Budget speech that was more an animated short, rather than the summer blockbuster we all hoped for, there is a sense of relief for the majority of self-employed and small business owners around the UK. But there are still over 2 million self-employed and small business owners that are shaking their heads in further frustrations as quite simply, nothing has changed.

Some are saying this is one of the most important budget speeches since World War 2. Others are frustrated at the Governments continuous ‘leaks’ to the press about what’s going to be announced later this afternoon. But there could well be more help for the self-employed which are due to be announced in the Budget, including the possibility of first grants for an estimated 600,000 people.

The Enterprise Investment Scheme Association (EISA) is lobbying the Chancellor to announce some small changes to the Enterprise Investment Scheme (EIS) rules in the forthcoming budget with a view to creating thousands of new jobs in growth businesses, funded by the private sector.

87 Million. Let’s just say that again…Eighty. Seven. Million. That’s the amount of pints that the UK pub trade, small business owners and landlords are having to waste because of our current lockdown predicament.

The Self Employed schemes that the UK Government created have left thousands of self employed business owners and workers ‘forgotten’ and in many cases on the verge of collapse.

When people hear “passive income,” it conjures up images of money for doing nothing. It’s a very seductive myth. Who wouldn’t want to have the cash rolling in while they lie on the beach sipping a cocktail?

Who amongst us has not groaned when it comes to tax return time?
But did you know you could be missing out on certain legitimate business expenses that you can claim for? If you’ve spent money on any of these five things this last year, don’t forget to add them to your expenses

How much do I charge? It’s taboo to talk about money. But it shouldn’t be! After all, that’s why most of us work. Freelancers, small business owners, and entrepreneurs understand the difficulties inherent in the process of setting rates for our work.

“Revenue is vanity…margin is sanity…cash is king.”

Anonymous

Has you and your small business reached it’s potential yet?
What are you looking at to help you do that?