UK Economy

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Is Inflation Rate Relevant to My Business?

Just like any business, an owner should be attentive and responsive to changes in inflation. When inflation is high, businesses have to spend more on production and profitability falls. This will force them to increase prices in goods and services. In this case, it will be better for a business to increase prices gradually, instead …

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When is The Right Time to Hire?

Hiring one or more talents could be one of the most challenging decisions a business owner has to make from time to time. However, it doesn’t have to be. As long as you are clear on your current financial position, the vision you have for your business, and the future financial projections, you will be …

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Will I Have To Repay Furlough Money?

The Wealth Lab is back again! It seems like employers’ happy days are over with Rishi Sunak’s latest announcement. When job retention and business loan support schemes were first announced, owners and employers have been able to let out a long, deep sigh – not because of disappointment but because of relief. With the Coronavirus making its presence …

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10 Small Businesses to Start in a Recession

Part of being an entrepreneur is the willingness to take risks. During a recession, the mere thought of starting a business–putting out the money in an attempt to generate more–is a high risk in and of itself. However, it isn’t entirely implausible to start one that has a chance of success. Some businesses can thrive …

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What Does a No-Deal Brexit Mean For UK Small Business?

Brexit is more than just fodder for the news cycle. Behind the extensive coverage are real people and businesses feeling the impact of the UK’s withdrawal from the European Union (EU).  The UK formally left the EU on January 31, 2020. Currently, the UK and the EU are involved in talks to decide on the details of …

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What Does A No-Deal Brexit Mean For The UK Economy?

On top of the many challenges the UK government faces with the Coronavirus pandemic and extended lockdown, a new threat to the UK economy emerges. Whether it will usher in positive change or not remains to be unseen. Yes, we’re talking about the possibility of a No-deal Brexit. A Brexit is basically the withdrawal or …

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