Monthly Archives: June 2021

Payroll: how UK small businesses can get it right

Originally written by Dan Matthews on Small Business
This year, like 2020, is one of change. Alterations to the legislative environment affecting payroll practitioners have come on top of seismic shifts in the way people work and, often, how they are paid.
For a small business, the difficulties might feel particularly acute, with a changing workforce potentially leading to reduced headcount and new recruits, as well as cover for temporary absences. Fewer people are available to handle a growing number of tasks and keep on top of fluid working practices.
Yet businesses must strategise beyond the shock of 2020 and push for future opportunities. In doing so, you need to understand how you’ll pay for accrued holidays, handle a workforce returning from furlough, employees in multiple locations and how this will impact expenses payments.
It’s a tricky situation, but with some preparation and the right software, growing businesses can navigate payroll problems with ease. Joanne Pringle, payroll product manager at Sage, believes the solution is to create a solid platform of information and processes from which you can work.
“When you have all the set processes mapped out, it allows you to have a laser-focus on changes when they come in,” she explains. “If you

Read more...

How to win a £25,000 Business Boost grant for your small firm

Originally written by Anna Jordan on Small Business
Simply Business has launched a £25,000 Business Boost grant for 2021.
It’s designed to help entrepreneurs launch a new business or help existing SMEs bounce back from challenges posed by Covid-19.
According to its own research, Simply Business found that:

The average UK start-up spends more than £22,756 in their first year
SMEs have lost £15,673 each so far in lost work and earnings due to the pandemic
In total, SME owners expect to lose £22,461 each on average, suggesting there are still losses to come, even despite the reopenings from the government
Over 840,000 SMEs are not sure their business will ever return to pre-pandemic trading levels
Over 2.2m SMEs (37 per cent) still haven’t been able to access government schemes and grants

How do I enter?
To enter, you’ll need to fill out a form on the competition website detailing why you think you deserve the grant. Judges will be focusing on:

Your story
A big dream
Positive social impact
Innovation

You must not have a turnover of over £500,000 or have received over £50,000 in private grant funding in the past two years – this doesn’t include government grants.
In the event that you are the winner, you must accept and agree to at least

Read more...