When the furlough scheme was introduced it was a sensible short-term measure to protect individuals whose employers had a sudden loss of earnings. But it is deeply discriminatory and worse, it’s bad for business. Those still with an employer receive enhanced benefits. Those without an employer do not. And some just fall through the gaps.…
Lockdown – the sequel: what it means for businesses
Just when you thought it was safe to go back in the water…..the Government announce another national lockdown. At the end of July I wrote that this would happen and what savvy businesses should do to prepare for a second spike! That advice was heeded by many and is just as relevant today because the fallout…
Learn from the world’s most exciting companies
In a recent email I talked about why evaluating your business model is essential in these turbulent times. Successful businesses are able to maximize the amount of value that is delivered to customers (and captured in the form of revenue) for the least amount of cost in operating expenses. The better the profit margin, the more options the business…
Something for the weekend, sir
Not all businesses have suffered from declining sales during the pandemic; the owner of brands such as Dettol, Nurofen, Cillit Bank and Durex (Reckitt Benckiser) has just seen a 13% rise in sales in Q3, but it has become clear that after what some thought was a temporary adjustment before we returned to ‘business as…
Who does the thinking in your business?
Who does most of the thinking in your business? It’s you isn’t it? In fact, you probably do all of it. You are the master strategist for all the parts of your business. You’ve been good at outsourcing the DOING of things (like operations, website creation, newsletter production, customer support, social media, bookkeeping, etc.) but you…
It is time for the Government to be honest and acknowledge the severity of this crisis
When the UK entered lock-down in March the Government’s strategy – based more on hope than science – was for a few months of lockdown followed by a warm summer so that the country could return to normal in the Autumn. We were told that “we could turn the tide on the virus within 12…
You’re on your own now
I have used the analogy ‘Don’t wait for the cavalry, they’re not coming’ before in an email but it seems appropriate to do so again as the government support schemes hastily put in place to stave off the worst economic affects of the pandemic gradually peter out. Businesses that have managed to hang on into…
MTD filing to be extended to all VAT-registered traders from April 2022
On 21 July the Treasury set out a first draft of the government’s ten-year plan to modernise the tax administration system. This includes restarting the making tax digital (MTD) programme which had ground to a halt in the face of Brexit and the coronavirus pandemic. MTD filing is to be extended to all VAT-registered traders from April 2022…
The worst is yet to come – are you ready?
With the easing of the lock-in, long days and sunshine and the promise from government that everything will be ‘back to normal by Christmas’, you could be forgiven for thinking that the worst effects of the Covid-19 pandemic are over. Soon there will be a vaccine, and everything will get back to normal. Unfortunately, nothing…
The Self-Employment Income Support Scheme is being extended…but half of the self-employed are still excluded
When the chancellor announced a scheme for the self-employed similar to the Coronavirus Job Retention Scheme most of the 5m self-employed in the UK breathed a sigh of relief even though it had been a long time coming. It wasn’t long, however, before HMRC started to reject applications from self-employed people excluded from the scheme.…
