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Survey reveals optimism over UK business conditions

A recent survey of UK business owners in the Yorkshire area revealed that 62% believe conditions have improved in comparison with the same period last year and the number considering overseas trading has increased by 17% over the first two quarters of 2012. However, of those surveyed, 10% reported that they were struggling to stay afloat as the recession continues.

A welcome initiative to relieve the lack of bank lending and ease cash availability for struggling small businesses has taken a step forward. “Bank to the Future” has reached its beta stage after two years development and its website is now open to the public. While the Venture Capital road can be a difficult and expensive route, BTTF enables individuals to invest as little as £10 in entrepreneurs and small businesses. Investors become part of a group supporting opportunities that may be high risk but could offer high returns. The site also offers the option to present your business or idea to prospective ‘angel’ investors.

Of help to those who are employers, HMRC has produced a single page P46 form called P46 (Short) to be used for new employees who don’t have a P45. On a less positive note HMRC sent out around a half million penalty letters mid August to those who have still not submitted their tax returns for 2010/11. While a tax return may seem daunting, the cost of a contractor accountancy service to expertly complete and submit the forms is significantly less than the penalties.

Posted by Louise
September 5, 2012
Small Business

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