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For a successful business, you need a viable business idea, the skills to make it work and the funding. Discover whether your idea has what it takes.

Forming your business correctly is essential to ensure you are protected and you comply with the rules. Learn how to set up your business.

Advice on protecting your wellbeing, self-confidence and mental health from the pressures of starting and running a business.

Learn why business planning is an essential exercise if your business is to start and grow successfully, attract funding or target new markets.

It is likely you will need funding to start your business unless you have your own money. Discover some of the main sources of start up funding.

Businesses and individuals must account for and pay various taxes. Understand your tax obligations and how to file, account and pay any taxes you owe.

Businesses are required to comply with a wide range of business laws. We introduce the main rules and regulations you must comply with.

Marketing matters. It drives sales and helps promote your brand and products. Discover how to market your business and reach your target customers.

Some businesses need a high street location whilst others can be run from home. Understand the key factors from cost to location, size to security.

Your employees can your biggest asset. They can also be your biggest challenge. We explain how to recruitment and manage staff successfully.

It is likely your business could not function without some form of IT. Learn how to specify, buy, maintain and secure your business IT.

Few businesses manage the leap from start up to high-growth business. Learn what it takes to scale up and take your business to the next level.

A social enterprise is a business that trades to tackle social problems, improve communities, people’s life chances, or the environment.  A social enterprise is a business, not a charity, that makes money and profit. 

Small firms worried that staff won't return from furlough

5 October 2021

New research has found that two in five small business owners are concerned that their employees may move on to new jobs now that the furlough scheme has ended.

Research by small business lender iwoca has found that 41% of small business owners polled say they are worried that their employees may not return to work after furlough; one in six think half of their furloughed staff will choose not to return to work; and 9% fear that none of their staff will come back.

Government data suggests that 1.6 million employees were still on furlough when the scheme wrapped up at the end of September. With over 520,000 small businesses still accessing the scheme in September, the findings suggest that almost 50,000 business owners believe that none of their furloughed employees will come back.

Many workers have been tempted to move jobs at this time because of the large number of job vacancies being advertised and others are looking to start their own business. Recent analysis of Companies House data by iwoca showed a 32% increase in the number of new business registrations in the first half of 2021 compared to the same period in 2019.

It means that more than two-thirds (64%) of small businesses will be looking to hire in the next year. Seema Desai, chief operating officer at iwoca, said: "The furlough scheme has been a lifeline for hundreds of thousands of jobs across the UK, but it's concerning how many small business owners who still have people on furlough fear that their staff won't return when the scheme ends.

"Managing staff turnover often requires significant time and effort, and it is likely that many small business owners will have to make this investment in the coming months in order to keep growing their businesses."

On a positive note, new research by Small Business Saturday, in conjunction with American Express, has found that 51% of people in the UK now say they back local independents more than they did before the pandemic. The findings also show that 49% of people feel greater positivity towards small firms.

Small Business Saturday UK returns for its ninth year on 4 December, following record breaking success in 2020 which saw an estimated £1.1 billion spent with small businesses on the day.

"The surge in support for small businesses underlines just how much our independents mean to people," said Michelle Ovens, director of Small Business Saturday UK. "Strong support from the public is critical for small businesses, many of which are heading into an uncertain period … it is really vital that people keep backing small firms throughout the winter months and beyond."

Written by Rachel Miller.

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