Bytestart

read moreWhen you need to find business funding fast, what are your options and what are the quickest ways for you to secure more finance? We talk you through the most viable fast funding options for SMEs who need finance in a hurry, and include practical tips on how to ensure your funding application goes as. The area of tax for small businesses is not straightforward, in fact it can be a real minefield for the unwary. However, if you take a little time, and work with your accountant, it's usually possible to find ways to save some tax.

read moreAlthough the sole trader route, which is commonly referred to as being self employed, is the most popular way of running a business in the UK, there are significant advantages of operating as a limited company. Here, we highlight 10 of the biggest benefits a limited company gives you over working as self-employed. Starting up as a sole trader is without doubt the simplest way to start a business in the UK. All you need to do is inform HMRC that you are working as ‘self employed', and account for your business activities through the annual self assessment tax process.

read moreAside from the sole trader route, the limited liability company is the most popular business structure in the UK. With a limited company, the liability of company directors is ‘limited' in that the company's finances are separate from the personal finances of the business owner. This is not the case for those who run their business as a sole trader (self employed). Limited company shareholders are not responsible for any debts run up by the business, although banks may ask company directors to provide loan guarantees for commercial loans or credit taken out in the company's name.

read moreAt some point in your journey as a small business, you'll probably come across a common dilemma - you need an accountant. But what's the best solution for your business? Should you hire an in-house resource, outsource the work to a third party, or try and manage it all yourself? Small businesses look to be facing very precarious times for at least the next year. The pandemic of 2020 has brought with it serious financial uncertainty and a global recession that it will no doubt take a while to recover from.