By Adam Wayland on Small Business UK - Advice and Ideas for UK Small Businesses and SMEs A lot of attention is given to scrutinising bank accounts and other financial products, but not so much about how to assess the bank you’re interested in doing business with. We’re here to change that. But before we do, it is worth stating at the outset that banks are businesses themselves and exist to generate returns for their shareholders. You can therefore expect to pay a price for the services and borrowing facilities provided. Now, the business banking landscape has changed immeasurably since this a ..read more

By Dom Walbanke on Small Business UK - Advice and Ideas for UK Small Businesses and SMEs If you’ve got a great business idea but are finding out the hard way that it can be a royal pain to get funding, The Prince’s Trust could be the answer. The Trust’s enterprise programme has been running for four decades and is open to 18 to 30-year-olds who are unemployed or working fewer than 16 hours a week. In addition to business training schemes which tackles topics like marketing, planning and tax, the programme provides funding of up to £7,500 (through the government-funded Start-Up Loan ..read more

By Darren Fell on Small Business UK - Advice and Ideas for UK Small Businesses and SMEs As most people are aware, if you’re thinking of starting a new business or already run one you can claim expenses on some of your costs. This is a great way to help out entrepreneurs and give them a better chance of success. Why? Because businesses pay tax on their profits, so when they claim expenses that amount is removed. So they pay tax on a much lower amount. If you’re diligent you can save yourself a pretty large chunk of money. So, what can you claim for? The main categories of business expenses Bus ..read more

By Sophie Attwood on Small Business UK - Advice and Ideas for UK Small Businesses and SMEs What are business rates? Business rates are one of the UK’s oldest taxes; its origins can be traced back to the Poor Law of 1601. Business rates can be roughly defined as the tax paid for the occupation of a non-domestic property. They approximately correspond to 50 per cent of the annual rent of the property. Business rates are based on a specific value, known as “rateable value” and all commercial properties are valued on the same day. Non-domestic rates or business rates are the way that those who occ ..read more

By Tim Adler on Small Business UK - Advice and Ideas for UK Small Businesses and SMEs Small business owners say they are being straitjacketed by banks, having to take out personal guarantees for loans to growth their businesses. Acting on their behalf, the Federation of Small Businesses (FSB) has issued a super-complaint to the Financial Conduct Authority (FCA) to highlight the harsh lending practices of banks that excessively demand personal guarantees for business loans. Personal guarantees can be a “straitjacket” on business growth, forcing entrepreneurs to put their homes or other assets ..read more

By Partner Content on Small Business UK - Advice and Ideas for UK Small Businesses and SMEs As a small business owner you might be thinking about loans as a way of starting or growing your company. Unfortunately, loans are notoriously complicated, riddled with complex terms and teeny tiny small print. Let us demystify the process and show you some of the best small business loans around. Is a small business loan right for me? It depends what type of business you have, how developed you are and what you need the loan for. For example, some loans aren’t great for seasonal businesses as making r ..read more

By Tim Adler on Small Business UK - Advice and Ideas for UK Small Businesses and SMEs Running a successful small business requires healthy cash flow, sustainable growth, adaptability, and forward-planning. Naturally this may mean you require an extra injection of cash from time to time. Business loans are one of the most common sources of finance for SMEs and with the growth in alternative finance providers, such as Capify, over the past decade, there are now loans designed to cover the specific needs of almost every organisation, no matter what shape or size. Whether you want to hire more st ..read more

By Tim Adler on Small Business UK - Advice and Ideas for UK Small Businesses and SMEs As part of the Government’s pledge to reach net-zero by 2050, almost £5bn has been put aside to help UK businesses become greener. There are small business energy grants covering everything from installing heat pumps and electric car charging points through to adding solar panels or just insulating your building. These are available either nationally, regionally or at local authority level, so check out our list below. Where to find green small business grants – If you fancy making your business and its oper ..read more

By Partner Content on Small Business UK - Advice and Ideas for UK Small Businesses and SMEs Want to know how to manage your accounts and bookkeeping while you focus on your business as a sole trader? Here we explore how to find the right software for your business and some of the best platforms on the market As a sole trader, having the right accounting software is key to optimising the day-to-day running of your business by saving you hours of work and giving you more time to focus on higher-priority tasks. This type of software can also help you cut your tax bills and reduce the risk of mak ..read more

By Partner Content on Small Business UK - Advice and Ideas for UK Small Businesses and SMEs If you’re a sole trader or a self-employed business owner, you might be wondering what expenses you can claim to help you reduce your Self Assessment tax bill. Getting your head around your tax bill can be tricky for many business owners, but there’s more to it than just figuring out what you owe. You also need to figure out how much you’re owed in return as a result of your business expenses.  In this article, we’ll help you understand what expenses you might be entitled to and how you can procee ..read more