Have you missed any of this week’s small business news? Here’s our roundup of what’s been happening over the past seven days:
It was good news on Friday when we revealed that small businesses are able to start up on less than you might think. The majority of small businesses started with less than £2,000. Most had used their own savings, with some turning to friends and family rather than going to a bank.
On Monday HMRC started its business tax help week for businesses starting up. Until the end of today (March 1st), Twitter users can directly ask @HMRCgovuk tax questions using the hashtag #biztaxhelp. HMRC will answer questions relating to starting a new business, the new RTI rules and more.
Next we revealed that small businesses are becoming more stressed. Business owners reported that stress is having a noticeable impact on their business, and stress-related absences have risen over the past two years. However, many businesses were more positive about the outlook for 2013.
On Wednesday the government announced it will be cutting the amount of red tape for small businesses. There will be less regulations to adhere to when starting up a business, and there will be less restrictions on choosing a business name. Smaller companies will also be relieved from some accounting regulations.
And yesterday, a new report was released on the state of the high street. On average, one chain store closed per hour in 2012. However, there was a rise in the number of pound shops, cheque cashing shops and pawnbrokers. Preliminary data for the start of 2013 shows these closure could be on the rise.
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