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Paras Shah Blog |
Due to the unprecedented challenges 2020 has thrown our way, businesses have had to adapt quickly to new hurdles and coronavirus-related restrictions. However, with the year coming to an end, it is essential to get set for the year ahead with budgeting, effective cash flow management, plus forecasting and management accounts.
The Government has announced that it will resume ‘naming and shaming’ employers that fail to pay the national minimum wage (NMW), as part of an overhaul aimed at reducing the burden of the legislation on businesses.
Under new rules unveiled by Home Secretary Priti Patel last month, free movement will end on 1 January 2021 and a new points-based system will be introduced, which will require at least 70 points for a working visa.
The latest figures from the Insolvency Service show that corporate insolvency is at the highest level since 2013, while separate research suggests that young businesses, meaning those formed after 2014, are more likely to have financial problems.
Recent research suggests the majority of start-ups find it relatively easy to secure funding, but when it comes to deciding what to spend the money on, many firms struggle with the decisions.
A recent study has found that venture capital (VC) funding for tech firms reached £10.1 billion in 2019, a 44 per cent increase year-on-year and an all-time record.
New research has found that investors pumped £2.8 billion into UK-based start-ups between 2014 and 2018, marking a fourfold increase.
With small business confidence plunging to its lowest level in eight years, the Federation of Small Businesses (FSB) is urging the Government to deliver on its promises if confidence is to be revived this year.
The Government has announced funding for innovative businesses involved in developing game-changing products and services in any area of technology, science and engineering.
A record number of shoppers came out to show their support for the UK’s 5.8 million small, independent businesses on the UK’s seventh annual Small Business Saturday on 7 December, providing them with an important boost.