Tag Archives: furlough

News

Skillshare announces ‘furlough 100’

Skillshare—the world’s largest online learning community for creativity— has launched the ‘Furlough100’ scholarship that will offer 100 people in the UK the opportunity to learn new skills from the world’s best creators and gain access to a thriving creative community.

For the first time ever, Skillshare has created a scholarship specifically for displaced workers. With Skillshare, members can explore their creativity and discover new skills, techniques, and tools for a wide range of creative topics. Recipients of the scholarship will gain free, unlimited access for a year to over 30,000 video-based classes including topics like: entrepreneurship, graphic design, photography, animation, and content creation.

There are also several classes to support mental wellbeing. Many studies show the act of creating can improve mental health — 60% of UK adults surveyed by Skillshare recently said learning creative skills boosted their mental health. Skillshare classes under this banner include tips on how to pivot your career from successful teachers on the platform such as Emma Gannon, podcaster and Sunday Times best seller, who shines a light on her journey to success.

To apply for a scholarship:

  • Go to the Skillshare website
  • Apply for the scholarship detailing:
    That you’re out of work
    Why you need a scholarship
    What skill you plan to learn and how you will use it
  • The first 100 people who live in the UK and meet the criteria will be awarded a scholarship.

The scholarship entry timeframe is until December 1st 2021 and scholarship awardees will be notified on a rolling basis through the year’s end.

Liana Douillet Guzmán, Skillshare CMO, said:  “As this phase of furlough comes to an end, it will be a time of uncertainty for many. We know from our recent research how important learning creative skills is both for people’s career prospects and wellbeing. This scholarship will be an opportunity to access over 30,000 classes in a wide range of creative disciplines and benefit from the support of the Skillshare community”.

News

Extending Coronavirus support – How to avoid the pitfalls

Throughout the pandemic, many businesses have made good use of the HMRC-administered coronavirus relief schemes. Such support has helped them survive the difficult economic conditions and manage staffing and revenue issues as a result of the strict lockdown rules.

As society reopens, now is the time to re-evaluate finances and look towards a stable and ultimately profitable bounce-back.

Schemes set up to support businesses (extended to 30 September in the March 2021 Budget) include:

  • Job Retention Scheme (‘CJRS’ or furlough scheme)
  • Self-Employment Income Support Scheme (SEISS)
  • Statutory Sick Pay support for employers
  • Coronavirus business support grant scheme (through local authorities)

The Government has announced a gradual reduction of CJRS over the coming months. This will shrink from 80% of wages for hours not worked (up to £2500 per month) to 60% (up to £1875) from August to the end of September. There are no definite plans to extend the schemes beyond that date.

It’s essential to stay on top of HMRC’s deadline dates for submissions. The next tranche of potential claims in advance for May 2021 won’t begin until 19 April, or two weeks before the month claimed. At the latest, 14 June 2021. This is a helpful summary of the new provisions for the furlough scheme.

According to HM Treasury, more than 84,700 restaurants and bars also took part in the Eat Out To Help Out scheme (‘EOTHO’), which gave a 50% discount on qualifying meals in August 2020.

Compliance checks and “nudge” tactics

An HMRC “nudge” letter, which might imply a duty to repay, may alarm businesses with furloughed staff. While the CJRS has been open to abuse, and the HMRC is taking a robust line with non-compliance, the letter is often an invitation to conduct an in-house review before any formal assessment. HMRC intends to recoup anything that shouldn’t have been paid, but a nudge letter is a reminder to check compliance and review viability of claims, how the grants were spent, and consider options.

The 90-day amnesty announced in the July 2020’s Finance Act 2020, (ending in October 2020) gave a short window for reporting incorrect claims and avoiding penalties. There’s now a required notification within 90 days of tax liability. Although penalties are unlikely in the light of suitable adjustments and corrections, leniency isn’t guaranteed.

Innocent mistakes notified to HMRC, with appropriate advice and in the right way, should be less likely to attract penalties. Examples might include when circumstances changed after payment or the payments not used or paid in the manner intended. The obligations on voluntary disclosure and correction of any anomalies, miscalculations, or mistakes should be front of mind to avoid any risk of sanctions.

Investigations and responses

Correcting mistakes and working with HMRC is less likely to lead to penalties.

But such a carrot hasn’t alleviated HMRC’s ongoing concerns around the nature of the scheme, the quick roll-out, and the retrospective eligibility evaluation.

HMRC’s focus is now on compliance. The stick of an investigation with potential 100% clawback, penalties, director’s personal liability, even where the business becomes insolvent, as well as fines and criminal penalties, is real.

Where they consider a person received a payment to which they were not entitled, HMRC can open an assessment at any time. They may investigate for up to four years or more depending on whether there’s deliberate wrongdoing.

Some 26,232 reports have been recorded on HMRC’s fraud hotline and online portal. Over 4000 businesses have been investigated for possible abuse of the EOTHO scheme. The Government is determined to close the significant gaps caused by those who’ve taken advantage of a generous scheme.

Impact on businesses

An HMRC investigation can be hugely disruptive. A recent widely publicised furlough investigation led to the suspect and associates’ arrest, seizure of office equipment in a dawn raid, and business bank accounts’ being frozen. This is a dramatic example. Still, it highlights that where HMRC suspects criminality, they will pursue wrongdoers using their statutory powers.

At this end of the spectrum, several offences carry heavy custodial sentences for convicted offenders. These include offences of abuse of the grant scheme under both the Fraud Act 2006, and the Criminal Finances Act 2017, and which may amount to money laundering.

Under the Finance Act 2020, new powers permit 100% clawback for wrongful payments where there’s deliberate abuse. A 100% penalty might also arise where the wrongdoing is concealed. This particularly applies if an overpayment isn’t notified during or before the expiry of the period where a tax liability is triggered.

Where mistakes happen with input from professionals such as tax advisers or accountants, there will be consequences for them and potential professional liability.

Reputational risk is now more significant, with the HMRC publishing employers who have benefited from the scheme to offer greater transparency. Some seen as taking advantage of the scheme despite being entitled to the payments have taken the unprecedented step of repaying funds after criticism on social media.

All business decisions should consider the context of current and future market conditions during these testing times. Given HMRC’s ramping up of furlough fraud investigations, now’s the time to review claims made and to take advice on whether to notify HMRC.

Paul Wainwright is a partner at law firm Browne Jacobson LLP

News

Eviction Ban Extension to Help Unemployed & Businesses as Britain Prepares to Reopen

To further buttress the temporarily unemployed section of people and business owners who have seen minimal to no sales in the recent past in various jurisdictions across the United Kingdom, the government has extended the ban on commercial as well as residential evictions. The extension of the eviction ban is likely to support the people who have encountered unforeseen reduction in the earnings due to the pandemic-led lockdown and related restrictions.

As the UK prepares to reopen in accordance with the exit roadmap laid out by the government, the eviction ban alongside the extension of the furlough scheme and several other programmes announced earlier last month are expected to provide the much-needed backing.
The support has been announced at a time when there are no clear signs of a complete reversal in the earnings of unemployed people and the uptick in commercial activities of the businesses that were hit due to Covid-9 restrictions.

Extension of eviction ban

According to the latest directive issued by the Ministry of Housing, Communities & Local Government, the ban on residential evictions has been extended until May 31, while the commercial evictions have been suspended till June 30, 2021. The businesses have been provided with seemingly adequate monetary support to ensure that the commercial functioning is well supported when they reopen.

However, the government has made it clear that the businesses which are able to make the rent payments fully or partly should oblige. Later this year, the government is likely to launch a review of commercial landlord and tenant legislation.

A wide range of issues pertaining to Landlord & Tenant Act 1954 Part 2 is expected to be discussed under the comprehensive review. Further, the government will be gauging the potential impacts of coronavirus pandemic on the market, besides evaluating the scope of introduction of different models of rent payments.

On the other hand, the tenants of residential properties will be supported under the ban on evictions, in the most serious circumstances, including the incidents of domestic abuse or fraud. Additionally, the landlords will continue to follow the six-month notice periods framework before asking the tenants to leave until the end of May this year.

The beneficiaries

The decision to extend the ban on commercial evictions has been primarily taken to support business owners who were mandatorily required to shut their entire operations during the recently imposed lockdown and the tier-system from October to December 2020. The government has noted that some of the businesses have had to cease operations completely during the lockdown.

The worst-hit businesses, including bars, restaurants, regional dine-in outlets, pubs and other eateries, operating on rented properties are highly likely to benefit from the eviction ban extension as they prepare to resume their commercial activities from May this year.

Meanwhile, the residential tenants can get away with the difficulties of eviction as there will be adequate time to search for alternative accommodation. The residential tenants belonging to private as well as the social sector may stay in their homes without immediately worrying about the next support or accommodation as the people who were momentarily removed from the jobs will be getting back to their respective workplaces as employers reopen under the planned exit roadmap.

The decision to extend the eviction ban on residential accommodation has been taken with due care as according to the Labour Force Survey of April 2020, approximately 36 per cent of the retail workers and 49 per cent of the people working with the hospitality sector are residing at rented habitations. As per the government, the new measures and eviction ban is likely to protect jobs as many more renters will be returning to work with the reopening of workplaces and businesses.

During the still-running course of Covid-19 pandemic, the government has set aside a massive sum, £280 billion, to bolster the prospects of businesses. The package, designated to support the operations of the businesses and the people employed by them, has aptly reinforced business practices across the UK.
geography of the UK.

Please visit: https://kalkinemedia.com/uk

News

Eviction Ban Extension to Help Unemployed Businesses as Britain Prepares to Reopen

To further buttress the temporarily unemployed section of people and business owners who have seen minimal to no sales in the recent past in various jurisdictions across the United Kingdom, the government has extended the ban on commercial as well as residential evictions. The extension of the eviction ban is likely to support the people who have encountered unforeseen reduction in the earnings due to the pandemic-led lockdown and related restrictions.

As the UK prepares to reopen in accordance with the exit roadmap laid out by the government, the eviction ban alongside the extension of the furlough scheme and several other programmes announced earlier last month are expected to provide the much-needed backing.
The support has been announced at a time when there are no clear signs of a complete reversal in the earnings of unemployed people and the uptick in commercial activities of the businesses that were hit due to Covid-9 restrictions.

Extension of eviction ban

According to the latest directive issued by the Ministry of Housing, Communities & Local Government, the ban on residential evictions has been extended until May 31, while the commercial evictions have been suspended till June 30, 2021. The businesses have been provided with seemingly adequate monetary support to ensure that the commercial functioning is well supported when they reopen.

However, the government has made it clear that the businesses which are able to make the rent payments fully or partly should oblige. Later this year, the government is likely to launch a review of commercial landlord and tenant legislation.

A wide range of issues pertaining to Landlord & Tenant Act 1954 Part 2 is expected to be discussed under the comprehensive review. Further, the government will be gauging the potential impacts of coronavirus pandemic on the market, besides evaluating the scope of introduction of different models of rent payments.

On the other hand, the tenants of residential properties will be supported under the ban on evictions, in the most serious circumstances, including the incidents of domestic abuse or fraud. Additionally, the landlords will continue to follow the six-month notice periods framework before asking the tenants to leave until the end of May this year.

The beneficiaries

The decision to extend the ban on commercial evictions has been primarily taken to support business owners who were mandatorily required to shut their entire operations during the recently imposed lockdown and the tier-system from October to December 2020. The government has noted that some of the businesses have had to cease operations completely during the lockdown.

The worst-hit businesses, including bars, restaurants, regional dine-in outlets, pubs and other eateries, operating on rented properties are highly likely to benefit from the eviction ban extension as they prepare to resume their commercial activities from May this year.

Meanwhile, the residential tenants can get away with the difficulties of eviction as there will be adequate time to search for alternative accommodation. The residential tenants belonging to private as well as the social sector may stay in their homes without immediately worrying about the next support or accommodation as the people who were momentarily removed from the jobs will be getting back to their respective workplaces as employers reopen under the planned exit roadmap.

The decision to extend the eviction ban on residential accommodation has been taken with due care as according to the Labour Force Survey of April 2020, approximately 36 per cent of the retail workers and 49 per cent of the people working with the hospitality sector are residing at rented habitations. As per the government, the new measures and eviction ban is likely to protect jobs as many more renters will be returning to work with the reopening of workplaces and businesses.

During the still-running course of Covid-19 pandemic, the government has set aside a massive sum, £280 billion, to bolster the prospects of businesses. The package, designated to support the operations of the businesses and the people employed by them, has aptly reinforced business practices across the UK.
geography of the UK.

Please visit: https://kalkinemedia.com/uk

News

Eviction Ban Extension to Help Unemployed & Businesses as Britain Prepares to Reopen

To further buttress the temporarily unemployed section of people and business owners who have seen minimal to no sales in the recent past in various jurisdictions across the United Kingdom, the government has extended the ban on commercial as well as residential evictions. The extension of the eviction ban is likely to support the people who have encountered unforeseen reduction in the earnings due to the pandemic-led lockdown and related restrictions.

As the UK prepares to reopen in accordance with the exit roadmap laid out by the government, the eviction ban alongside the extension of the furlough scheme and several other programmes announced earlier last month are expected to provide the much-needed backing.
The support has been announced at a time when there are no clear signs of a complete reversal in the earnings of unemployed people and the uptick in commercial activities of the businesses that were hit due to Covid-9 restrictions.

Extension of eviction ban

According to the latest directive issued by the Ministry of Housing, Communities & Local Government, the ban on residential evictions has been extended until May 31, while the commercial evictions have been suspended till June 30, 2021. The businesses have been provided with seemingly adequate monetary support to ensure that the commercial functioning is well supported when they reopen.

However, the government has made it clear that the businesses which are able to make the rent payments fully or partly should oblige. Later this year, the government is likely to launch a review of commercial landlord and tenant legislation.

A wide range of issues pertaining to Landlord & Tenant Act 1954 Part 2 is expected to be discussed under the comprehensive review. Further, the government will be gauging the potential impacts of coronavirus pandemic on the market, besides evaluating the scope of introduction of different models of rent payments.

On the other hand, the tenants of residential properties will be supported under the ban on evictions, in the most serious circumstances, including the incidents of domestic abuse or fraud. Additionally, the landlords will continue to follow the six-month notice periods framework before asking the tenants to leave until the end of May this year.

The beneficiaries

The decision to extend the ban on commercial evictions has been primarily taken to support business owners who were mandatorily required to shut their entire operations during the recently imposed lockdown and the tier-system from October to December 2020. The government has noted that some of the businesses have had to cease operations completely during the lockdown.

The worst-hit businesses, including bars, restaurants, regional dine-in outlets, pubs and other eateries, operating on rented properties are highly likely to benefit from the eviction ban extension as they prepare to resume their commercial activities from May this year.

Meanwhile, the residential tenants can get away with the difficulties of eviction as there will be adequate time to search for alternative accommodation. The residential tenants belonging to private as well as the social sector may stay in their homes without immediately worrying about the next support or accommodation as the people who were momentarily removed from the jobs will be getting back to their respective workplaces as employers reopen under the planned exit roadmap.

The decision to extend the eviction ban on residential accommodation has been taken with due care as according to the Labour Force Survey of April 2020, approximately 36 per cent of the retail workers and 49 per cent of the people working with the hospitality sector are residing at rented habitations. As per the government, the new measures and eviction ban is likely to protect jobs as many more renters will be returning to work with the reopening of workplaces and businesses.

During the still-running course of Covid-19 pandemic, the government has set aside a massive sum, £280 billion, to bolster the prospects of businesses. The package, designated to support the operations of the businesses and the people employed by them, has aptly reinforced business practices across the UK.
geography of the UK.

IR35 & Contracting, News

72% of contractors remain committed to working for themselves despite COVID-19

New research from leading contracting accountancy firm, SJD Accountancy, has found that the vast majority of UK contractors and freelancers remain resilient and hopeful for the future, despite industry fears caused by COVID-19.

The survey, which took into account the views of more than 2,300 contractors in financial services, IT, and engineering, confirmed that 72 per cent of contractors plan to continue working independently for the next three years at least.

Included in this group were 27 per cent of contractors who see themselves contracting for the next 11 years at least, with 20 per cent feeling ‘very positive’ or ‘positive’ about their future prospects and 38 per cent feeling ‘neutral’.

Concerns linked to the COVID-19 pandemic were evident, with 66 per cent of contractors admitting to being worried about the impact of the virus on their work.

However, 43 per cent of respondents say the pandemic has not affected their work and 62 per cent would still recommend contracting to a friend. One respondent went on to explain their confidence in the market, saying: “Covid-19 and IR35 will have an impact on the market in the short term, but ultimately end-clients still need their projects delivered. Their businesses will not stop working, it’s just that the landscape will be different.”

Most contractors (65.9 per cent) have not applied for financial aid from the government since the introduction of various support measures and only 20 per cent of contractors have used the Coronavirus Job Retention Scheme (CJRS).

The second, third and fourth most common support options used were mortgage holidays (8.9%), VAT deferrals (8.5%) and the Business Bounce Back Loan (6.2%), all of which are delays on payment or loans that must be repaid, rather than support grants.

James Foster, Senior Commercial Manager at SJD Accountancy, said: “Our annual contractor survey has given us some valuable insights into the minds of contractors, and we’re pleased to see the general consensus is that people are still committed and passionate about their careers in contracting, despite the current difficult climate.

“Contractors have been among the hardest hit by the Coronavirus pandemic because bigger companies are receiving significant help from the government, with PAYE employees supported by the CJRS. With this, limited company contractors have been somewhat left behind in terms of financial aid.

“As employees of their companies, most contractors are eligible for the CJRS. However, only a salary can make up part of these CJRS claims and, unfortunately, most contractors draw the majority of their income as dividends and take only a small salary. Therefore, contractors were forced to weigh up if placing themselves on furlough and stopping work altogether was financially worthwhile. It would appear that, in many cases, contractors felt it was not.

“Nonetheless, and despite the uncertainty caused by the crisis, contractors are showing their resilience, with most determined to carry on working for themselves. This should be a welcomed attitude for all because the flexibility and talent within the contractor workforce will have a crucial role to play in the UK’s economic recovery in the months and years ahead.”

SJD Accountancy’s annual survey has been running for nine years and gains valuable insights from the firm’s varied database of contractors and freelancers on leading industry topics, including IR35, pensions and mortgages.

FInance, News

New research reveals the impact poor payroll management is having on UK SME growth, operations and employee engagement

Research from IRIS Software Group (IRIS), one of the UK’s largest software companies, has found the UK’s small businesses are struggling to manage payroll for their staff during the pandemic, and it is impacting business performance.

The YouGov Study revealed how nearly a third (29%) of businesses owners think managing payroll requires too much of their time. Despite a quarter (25%) agreeing that the amount of time spent managing payroll affects how their business performs.

A further quarter (25%) said their business can’t keep up with other staff demands due to the time they have to dedicate to payroll processes, and a similar number (26%) also believed the amount of time spent managing payroll is preventing them from developing business opportunities. A figure that rises to over half (54%) of business leaders in the capital and over a third (36%) in Scotland.

With payroll impacting overall business performance, the study further indicates that pressure to remain in business has meant managing payroll has become more difficult. Two in five business owners (38%) think payroll is more stressful now than before the COVID-19 pandemic, with just under half (48%) making changes to how they manage payroll in the last nine months in an attempt to free up time to focus on stabilising and growing their business.

Of those businesses surveyed who have furloughed staff during the COVID-19 pandemic, over half (59%) have had to make changes to how they manage payroll as a direct result of the pandemic. One in five (20%) of these businesses have changed their payroll system entirely. While 17% have started outsourcing payroll. Less than one in ten (7%) have moved to using more automation such as cloud-based software or digital software, to streamline payroll.

Yet overwhelmingly, payroll has been found to be a key driver for employee happiness. Nearly all (81%) of the payroll professionals surveyed said whether the business gets payroll done correctly directly impacts their employee’s happiness. Interestingly, of those who reported this, nearly all (94%) have had to make changes to how they manage payroll as a result of COVID-19.

Nick Gregory, Chief Marketing Officer at IRIS Software comments on the findings, “As we move into the next normal, business leaders need to have the bandwidth to work on their business, not in it. There is a way to take the pain out of managing payroll. And turn it into something that doesn’t result in stressed payroll professionals, unhappy employees or businesses struggling to move forward with confidence.

“Harnessing automation and cloud-based software quietens the noise coming from payroll. And gives leaders peace of mind that the ever-increasing complexities around payroll are being handled appropriately. This in turn means they can focus on investing in staff and growing their business.”

All figures, unless otherwise stated, are from YouGov Plc.  Total sample size was 101 Business owners with 10-49 employees. Fieldwork was undertaken between 4th – 12th November 2020.  The survey was carried out online.

Construction, News

How a second lockdown will affect the UK construction industry

Marco Verdonkschot, Managing Director at IronmongeryDirect, the UK’s largest supplier of specialist ironmongery, has commented on the impact the second lockdown could have on the construction industry:

“With rising case numbers and hospital admissions, the announcement of a second national lockdown was perhaps inevitable, but businesses will be hit hard once again. However, the construction industry is exempt from workplace closures and this will hopefully allow recent signs of recovery to continue.

“Driven by increases in new work (17.5%), construction output rose by 3% in August (the latest data available) to nearly £12,500 million, marking the fourth successive month of growth for the industry. Such sustained growth is a healthy indicator of confidence returning to the sector, with companies across the UK willing to commission fresh projects. New private housing has been performing particularly well and will be boosted by the news that such work is unaffected by a second lockdown.

“The Prime Minister also announced that the furlough scheme will be extended until December, with employees still receiving 80% of their salary. While the number of construction workers on furlough has been dropping rapidly each month – the quickest proportionate decrease across all sectors – the latest data shows that there were still over 275,000 people on the scheme in July. Therefore, the extension of the funding will be greatly welcomed by many in the industry.

“Despite being able to continue operations, the second national lockdown will undoubtedly put extra strain on the construction industry and we may see the rate of recovery slow down further.

“However, the sector is proving to be incredibly resilient and has shown this year that it can rebound strongly after challenging setbacks. The government’s announcement at the weekend has given the industry a chance to continue its growth and hopefully it can end the year in a strong position.”

For more information about IronmongeryDirect, visit: www.ironmongerydirect.co.uk/

News, Start Ups

Eight top tips for setting up your own trade business

Being your own boss has many perks that make it an appealing career move, but it also presents challenges you’ll need to prepare for.

To help those looking to set up their own business, IronmongeryDirect, the UK’s largest supplier of specialist ironmongery, has spoken to tradespeople who have already taken the step to go self-employed, to reveal eight things to be aware of.

Consider if you’re a sole trader or limited company

Choosing whether you will operate as a sole trader or as a limited company is an important step and will have implications for how you pay your taxes. A sole trader is the simplest form of business structure and is essentially a self-employed person who is the sole owner of the business. A limited company has its own legal identity, separate from its owners and managers. This remains the case even if you’re the only person in the company.  Despite a limited company being a more complex structure, it offers an owner more protection. This is because as a sole trader, you have unlimited liability, meaning the law does not distinguish between your business and your personal property. This means that if your business incurs losses then your property could be seized by creditors.

Michael Wynn, Managing Director of Yorkshire Brickwork Contractors, said: “Setting up as a sole trader is seen as more manageable for busy tradespeople. This tends to be the preferred choice as less administration is involved when managing taxes, in addition to lower costs compared to a limited company.”

Put together a business plan

One of your first priorities should be to create a detailed business plan.

Christopher Field, who set up CJF Electrical Services, said: “By creating a business plan detailing all of your initial overhead costs, you ensure that you can save and budget for all the things you need to get started. This will include things like a van, tools, uniform, insurance, qualifications, and budget for marketing and advertising your services.

“Make a list of everything you need to buy and do, as well as estimating how long it will take to get everything sorted. It takes time to apply for a bank account, get the appropriate and best deal for insurance, set up wholesale accounts and create a website and social media channels, so don’t expect it to be quick to set up!”

Make sure you have the right insurance

Business insurance is essential in any sector but is especially important in trades where health and safety is a factor in day-to-day work.

Alan Gott, from Alan’s Home Improvement Services, said: “It’s very important that you have public liability insurance (PLI) and professional indemnity insurance (PII). PLI covers you for injury and property damage claims made against you, whilst PII covers things like negligence claims and unintentional breaches of copyright or loss of data.”

Don’t forget your taxes Another part of getting your finances in order is knowing what taxes you’ll need to pay. Michael Wynn adds: “Remember to make sure you keep up-to-date records of all business sales and expenses and plan to submit a self-assessment tax return every year – this is critical so do not forget! If you don’t keep up to date, it‘s really easy to fall behind and find yourself in a rather sticky situation.

“Another thing to note is that if your turnover is more than £85k, you must register for VAT. You can also register voluntarily if you sell to other VAT-registered businesses and want to reclaim the VAT at the end of the year.”

Focus on customer service

While good customer service is always important, it is particularly crucial when first starting out as it can be the difference between your business succeeding or failing.

Alan Gott added: “Remember that customer service is key. Create a personalised and quirky answerphone message so that people can leave a message, and always respond to messages promptly, regardless of whether or not you’re able to do the job. Arrive on time, and always be polite, courteous and obliging with your customers. This will help you to build up trust and spread positive word of mouth.

“Remember that even the little jobs can lead to more work in the future, so never turn down opportunities because you think they’re not big enough for you to spend time on.”

Market your services

Marketing your services can be done cheaply and effectively online, using Facebook or Google My Business. This will help people find you and increase awareness of your business.

Andy Porter said: “Look into local advertising methods to market your services and see how other tradespeople are doing it for inspiration. Alternatively, social media sites like Facebook can also be a great way to market your services for free if you don’t have the budget for advertising.”

Keep a cash reserve handy

Businesses need to be prepared to deal with the unexpected and keeping a cash reserve could help your company get through difficult times.

Andy Porter, a self-employed carpenter, said: “It’s important to make sure you’ve got plenty of money saved up in advance, as cash flow is really important. Having a contingency pot of emergency funds will help make your business resilient during quiet periods, as well as allowing you to deal with unforeseen occurrences beyond your control.”

Don’t be afraid to ask for help

Remember that you don’t have to go it alone when you’re first setting out. Industry organisations, friends and family on similar ventures are great resources of knowledge.

Andy Porter added: “It’s a good idea to speak with other sole traders that have established their own businesses and done it all before. Ask them for advice to help you repeat your successes and avoid their mistakes. This can also be a good way to build relationships with professionals in other trades, which can sometimes lead to additional work that you otherwise wouldn’t have been offered.”

IronmongeryDirect sells a range of tools and products you might need to start up your own trades business – for more information, visit: https://www.ironmongerydirect.co.uk/