Consumer price inflation hit 4.2% in October, its highest level for a decade, and will go higher as we head in 2022. For pandemic-pressed businesses, the inflation reality is far worse. Their input costs are soaring by unprecedented double-digit figures, while labour rates are rapidly being pushed higher by shortages right across the UK economy. The question for businesses is
The residential care system looks after over 400,000 of the UK’s most vulnerable people. There are some 5,500 care providers, operating over 11,000 care homes. 41% of residents pay their own fees (self-funders), 49% are paid for in part or totally by local authorities and the remaining 10% are funded by the NHS. The residential care system, as well as
How business has changed Owners and managers were well used to reacting to occasional shifts in their markets before Coronavirus re-set the entire business world. It was an essential part of their job, not just as they considered their results each year or set their annual budgets, but as and when significant events occurred in between. Nothing can have prepared
The last 18 months have been a challenging time for many SME business owners and directors. The pandemic has created unprecedented difficulties, leaving business owners buried in decision making and unsure of how to navigate this increasingly unknown territory. For many business owners, their personal wealth and retirement plans will be bound to their business’s financial position, making this challenging
Limited liability arrangements have long been thought of as a secure way for a business owner or director to clearly separate and protect their personal wealth from their business liabilities. Unfortunately, over time, these protections have slowly eroded, leaving business owners and directors in a more uncertain and, given the current times, potentially volatile position, both for their business and
There are numerous challenges SME business owners are facing in the current economic climate. The turmoil of the pandemic, coupled with the upheaval of Brexit, have left business owners needing to deal with unprecedented problems all at once. Changeable markets, supply chain issues and cash flow concerns, alongside the increased liabilities from Bounce Back Loan repayments, HMRC arrears and pressure
