New research has found that many business owners are reluctant to take out loans to help grow their business because of the risk to their personal assets, including their homes.
Despite challenging conditions, the number of UK digital micro businesses turning over more than £ 100,000 a year grew substantially during 2023, and almost a fifth (17%) now bring in six-figure sums, according to new figures published this week.
A new survey of UK small business owners has found that 69% of those polled said they would consider changing banks this year, as many seek new ways to grow their business.
Amazon is withholding payments from hundreds of UK sellers while it conducts new VAT checks; some traders are reporting that they are still waiting to be paid even though they have supplied all the necessary documentation.
Street food stalls, property letting businesses and online retailers were the biggest growth sectors in 2023, as the number of UK start-ups increased by 12% compared to 2022.
Funding is a significant barrier for would-be entrepreneurs but new research has found that most people think that business start-up costs are far higher than they really are.
