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Monthly Archives: March 2020
Hot Business News Today
10 Tips for Entrepreneurs to Actually Get Work Done While Homeschooling Kids
by Elisette Carlson • • 0 Comments
Hot Business News Today
A Healthy and Productive Guide to Virtual Meetings
by Aytekin Tank • • 0 Comments
We need to embrace change and rethink virtual meetings. Here’s how to promote a positive remote culture.
Hot Business News Today
Banks not cooperating with coronavirus loan, complain small businesses
by Timothy Adler • • 0 Comments
Originally written by Timothy Adler on Small Business
Small businesses complain that high-street banks are not entering into the spirit of the government emergency coronavirus loan, pushing them towards expensive products instead.
Entrepreneurs who have contacted Small Business show that banks are either wrongly understanding the Coronavirus Business Interruption Loan Scheme (CBILS) by asking for personal guarantees or are deliberately up-selling it, directing small businesses to take out regular business loans instead.
Alice Douglas, who runs St Curig’s Church bed and breakfast in Snowdonia, North Wales, said that she is faced with £20,000 worth of cancelled bookings because of coronavirus closure. She spent two days trying to get through to her bank, including seven hours of being put on hold, to ask for an overdraft extension. When Douglas – who has been with her bank for 40 years – explained that she needed financial support, her bank asked her if she had another income source over the next few months. When she said no, the bank said it was unable to help.
Douglas said: “I then asked [the bank] about the Coronavirus Business Interruption Loan but they said as I have no income at the moment they can’t do anything. Which defeats the whole
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Want to Learn Business Skills From Howard Schultz or Writing From Malcolm Gladwell? Now You Can.
by Entrepreneur Deals • • 0 Comments
Learn valuable skills from celebrities, industry-leaders, and professional athletes with Masterclass.
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7 ways to cut staff costs during the coronavirus crisis
by Peter Finding • • 0 Comments
Originally written by Peter Finding on Small Business
Cashflow is a major concern for small businesses during the coronavirus crisis. The vast majority are looking to cut staff costs in order to survive the coronavirus pandemic, and indeed prosper once normality is restored.
But what if you have a talented workforce who you don’t want to lose? We all know how hard it has been to recruit over the last couple of years, especially in tech and for highly skilled positions.
How can businesses cut staff costs during the coronavirus crisis?
>See also: How to get the government’s £10,000 cash grant for small businesses
#1 – Furlough leave
Furlough leave is a new concept in the UK – it’s indefinite leave during which the government covers wage costs. Businesses can recover 80 per cent of wage costs, up to a maximum of £2,500 per month per employee.
It will cover employees who might otherwise have been made redundant, laid off or put on unpaid leave. There is no limit on the number of employees who can be furloughed. The scheme is initially in place until June 2020, although it is expected this will be extended.
While some employers will top up the grant, so employees receive full pay,
Hot Business News Today
Does Sheryl Crow Really Use One Square of Toilet Paper at a Time?
by Gene Marks • • 0 Comments
Hot Business News Today
9 Qualities You Need to Look for in a Business Coach
by Stephen Key • • 0 Comments
The fastest way to learn any business is to study someone who has been successful at it.
Hot Business News Today
How Optimists and Pessimists Can Get Along
by Dr. Gleb Tsipursky • • 0 Comments
Opposites may not necessarily attract in business, but they can make your team a more productive whole.
Hot Business News Today
Self-employed Income Support Scheme what it means for you
by Timothy Adler • • 0 Comments
Originally written by Timothy Adler on Small Business
UPDATED: Chancellor Rishi Sunak has announced a Self-Employed Income Support Scheme to help Britain’s 5m self-employed get through the coronavirus pandemic.
The Self-Employed Income Support Scheme will offer a taxable grant of up to 80 per cent of a self-employed person’s income based on their taxable profits over the past three years, capped at £2,500 per month.
The scheme will only become available at the beginning of June and will have an initial three-month lifespan, to be reviewed.
And the Self-Employed Income Support Scheme will only cover those who paid tax on trading profits of up to £50,000 of income in 2018-19.
HMRC will pay the single lump sum direct into people’s bank accounts.
Individuals should not contact HMRC now. HMRC will use existing information to check potential eligibility and invite applications once the scheme is operational.
Sunak claimed the Self-Employed Income Support Scheme, which will cover up to 95 per cent of people who receive the majority of their income from self-employment, was unparalleled in almost any other country.
Sunak said: “We know that people are worried about their jobs and income … many self-employed people are worried about the lack of support for them.
“This last 100 days have