Tag Archive for Redundancy

Hot Business News Today

How to start a new business if Covid makes you redundant

by  •  • 0 Comments

Originally written by Steve Taklalsingh on Small Business
10-step guide to start a new business
Many people have gone through redundancy this year. More are likely to do so because of Covid. If you are one of them, after recovering from the initial shock, you are probably re-evaluating your life and career. Despite economic uncertainty this is proving to be a popular time to start a new business. But if this is the moment you head out on your own, where do you start and what do you need to know?
#1 – Have a good idea
Successful businesses are not successful because someone had a ground-breaking idea or invention. They’re successful because the business owner implemented the idea effectively. Having said that, you do need to really think about your business idea.

What is the problem you are trying to solve in the market?
Who is the competition?
Is there space in the market for you or is the marketplace saturated?
What do you bring to the table that others don’t?
How are you going to attract customers?

Do your research; it will be the most valuable time you’ll spend on your business.
>See also: 5 best ideas to start a small business post coronavirus
#2 – Check your status
You must

Read more...

Hot Business News Today

How to start a new business if Covid makes you redundant

by  •  • 0 Comments

Originally written by Steve Taklalsingh on Small Business
10-step guide to start a new business
Many people have gone through redundancy this year. More are likely to do so because of Covid. If you are one of them, after recovering from the initial shock, you are probably re-evaluating your life and career. Despite economic uncertainty this is proving to be a popular time to start a new business. But if this is the moment you head out on your own, where do you start and what do you need to know?
#1 – Have a good idea
Successful businesses are not successful because someone had a ground-breaking idea or invention. They’re successful because the business owner implemented the idea effectively. Having said that, you do need to really think about your business idea.

What is the problem you are trying to solve in the market?
Who is the competition?
Is there space in the market for you or is the marketplace saturated?
What do you bring to the table that others don’t?
How are you going to attract customers?

Do your research; it will be the most valuable time you’ll spend on your business.
>See also: 5 best ideas to start a small business post coronavirus
#2 – Check your status
You must

Read more...

Hot Business News Today

How do I make someone redundant? – small business redundancy guide

by  •  • 0 Comments

Originally written by Mike Tremeer on Small Business
The Covid-19 pandemic is having far-reaching consequences for businesses across the globe. Many have found that demand for their goods and services has fallen away drastically while others are prevented from operating due to government lockdowns. Other employers have been forced to consider redundancies in order to cut staff costs, but any small business based in the UK should give thought to other measures available before proceeding with redundancy as a last resort.
Coronavirus Job Retention Scheme
The newly announced Coronavirus Job Retention Scheme provides vital and unprecedented support to business to help pay their staff wages during the current crisis. The scheme offers employers reimbursements of up to 80 per cent of “furloughed workers” wage costs capped at £2,500 per month, in addition to other costs to employers. Furloughed workers are those who have no work to do, and they must not carry out any work while they are furloughed.
One of the key elements of the scheme is that it applies to those who would otherwise have been “laid-off”. For most employers the alternative to placing an employee on the furlough scheme would be to make their role redundant, and indeed the guidance from

Read more...

Hot Business News Today

Two in five small businesses face closure because of coronavirus

by  •  • 0 Comments

Originally written by Timothy Adler on Small Business
Two in five small businesses face temporary closure because of coronavirus, according to productivity organisation Be the Business.
Thirty-nine per cent of small and medium-sized enterprises (SMEs) have already closed temporarily or plan to do so within the next month.
The research, conducted by Opinium, also found that 7 per cent of firms have already shut permanently, and a further 12 per cent think they are likely to do this within the next month.
>See also: Banks not cooperating with coronavirus loan, complain small businesses
And 23 per cent have made or are planning to make redundancies.
Responding to the coronavirus threat, SMEs say they are equally focused on managing cash flow (31 per cent) and accessing grants and government loans (31 per cent). However, the longer-term issue of supporting their staff was highlighted by a quarter (24 per cent) of firms.
As for the types of support and advice SMEs are looking for, this varies according to size.

For micro-businesses (those with fewer than 10 employees), cashflow is crucial, with 40 per cent stating they need advice on this
Small businesses (10-49 employees) are looking for support to access grants and government loans (31 per cent)
Medium-sized firms (50-249 employees) want

Read more...

Hot Business News Today

UK adults keeping secret about redundancy, survey finds

by  •  • 0 Comments

People are still highly secretive on the topic of redundancy according to a new survey of over 1,400 UK adults undertaken by Scotcareers. Of those surveyed 49 per cent only talk about redundancy with people they are close with, and 8 per cent say they would actively keep it a secret from everyone. Some of the most
The post UK adults keeping secret about redundancy, survey finds appeared first on Small Business.

Read more...