All VAT registered businesses had their VAT payments deferred automatically for amounts due to be paid in the period from 20 March to 30 June 2020. No interest or penalties have been charged on that outstanding VAT debt, and businesses have been free to pay the amount due at any time. Now pay up There…
Category: Business
There has never been a lower barrier to entry for new businesses
Amongst all the doom and gloom of the past few years fuelled by Brexit, the COVID pandemic and challenges to democracy a fundamental paradigm shift has taken place: There has never been a better time to be a small business owner. Technology means you can create and launch new ideas, products and services quickly. There has…
This is the best time in history to take risks and innovate
There are a lot of good things to say about 2020, although I suspect that when its history is written most of them will have been forgotten. Like the meteor that wiped out dinosaurs, 2020 will be blamed for many ills, whereas in fact issues such as the decline in ‘old’ retail and advances in…
It’s all very well you saying innovate but how do I do it?
Good question; here are some ways. As an entrepreneur you already have multiple new ideas every day; we all do. But you have probably got used to suppressing them: if you followed every new idea and shiny object you’d get nothing done. But what happens to those ideas? Are they just forgotten? Start, instead, to…
The SEISS claims portal opens again today … but beware of the more onerous conditions
The self-employed income support scheme (SEISS) claims portal reopens today (Monday 30 November), but new rules mean that taxpayers must declare their trade has been impacted by reduced demand before they can claim the third grant. When claiming the first two SEISS grants taxpayers had to confirm that their trade had been adversely affected by the coronavirus…
The furlough scheme is bad for business
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…
