Monthly Archives: October 2020

Hot Business News Today

Buying a company name before starting up

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Originally written by seantoomer on Small Business
Buying a great company name isn’t everything but when it comes to the success of your business make no mistake, it counts for a lot
It will be the way customers find and identify you, so if you have a great name in mind it’s worth protecting it – even if you aren’t ready to start trading yet.
You might think of buying a company name, but really what you’ll be doing is creating a dormant company – that is a company which is legally registered with Companies House, but doesn’t trade or have any business transactions. As long as you maintain it, no one else can set up a company in your space or sector with the same name.
This is a well-established and accepted practice, but it does come with certain annual responsibilities, and there are definitely a few pitfalls to avoid when buying a company name. So here’s a handy guide to steer you through and make sure the process is smooth sailing.
>See also: How to choose the perfect name for your business
Creating a dormant company
In short, what you need to do to keep a company name for yourself is to incorporate a limited

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Hot Business News Today

How the 100% Local Furlough Scheme grant will work for your small business

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Originally written by Timothy Adler on Small Business
UPDATED: Chancellor Rishi Sunak is due to announce a further Local Furlough Scheme for businesses caught out by hard local lockdowns.
The government will cover 100 per cent of staff wages for small businesses ordered to close in areas in hardest-hit regions.
Larger firms blindsided by the highest lockdown level will have between 60 per cent and 80 per cent of staff wages covered.
Manchester, Liverpool and other areas of the North are expected to go into harder lockdown early next week, once the government launches its new traffic-light system for dealing with coronavirus outbreaks.
>See also: Rishi Sunak plans grants for small businesses hit by hard lockdown
London is expected to follow shortly, following a warning from Mayor Sadiq Khan.
Meanwhile help for hospitality businesses forced to close in Scotland will get their own £40m support package.
The Local Furlough Scheme is far more generous than the Jobs Support Scheme, announced last month, as the successor to the Coronavirus Job Retention Scheme, which ends on October 31.
>See also: Local lockdowns only make the problem of late payment worse
Every business in the UK is eligible for the Jobs Support Scheme from November, which covers one third of the wages for

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