1. Start Up Loans (British Business Bank) This government-backed scheme offers unsecured loans of up to £25,000 per individual (max £100,000 for a group) with: Perfect for startups and first-time business owners. 2. High Street Bank Loans Banks like Barclays,…
1. What Is Corporation Tax? Corporation tax is a tax on the taxable profits of limited companies and certain other organisations operating in the UK. It applies to profits from: 2. Who Pays Corporation Tax? Sole traders and partnerships do…
1. Start Up Loans Scheme (UK Government) Although technically a loan, this scheme offers funding up to £25,000 per founder with: Ideal for first-time business owners who need startup capital and guidance. 2. New Enterprise Allowance (NEA) For unemployed individuals…
1. What Is a Breakeven Point? The breakeven point is when your total revenue equals total costs—meaning you’re not making a profit, but you’re not losing money either. It’s a vital calculation for pricing, budgeting, and investment decisions. 2. Why…
1. What Is Competitor Research? Competitor research involves analysing the strengths, weaknesses, strategies, and performance of your business rivals. The goal is to understand how they operate, who they target, and where your business can outperform them. 2. Why Competitor…
1. Is There a Minimum Turnover for a Ltd Company? No, there is no legal minimum turnover required to set up or run a private limited company (Ltd) in the UK. You can register and operate an Ltd company even…
1. Start Up Loans Scheme Although technically a loan, this government-backed initiative offers startup funding of up to £25,000 per individual at a fixed 6% interest rate, with 12 months of free mentoring. It’s ideal for those launching a business…
1. What Are Sole Trader Accounts? Sole trader accounts refer to the financial records a self-employed individual keeps to report business income, expenses, and profit. These are used to calculate your tax liability when filing a Self Assessment tax return…
1. What Is Labour Cost? Labour cost refers to the total expenses a business incurs for employing staff. This includes not just wages or salaries, but also additional costs like benefits, taxes, insurance, and training. 2. Importance of Labour Cost…
1. Online Retail (E-Commerce) Setting up an online store—through Shopify, Etsy, or Amazon—is one of the best business ideas today. You can sell niche products like eco-friendly goods, pet supplies, or digital downloads, with minimal startup costs. Why it’s good:…
