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Start a business
At first glance, it may not seem like a great time to start
up a business. With the economy going downhill, going it be
alone can be a scary prospect. It has been said, though, that
recession is good for business -- as long as it's a good business.
If you have decided to take the plunge this year, be brave.
You might well be on to a winner.
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Faith in government enterprise policy
Only a third of business owners have faith in the government’s enterprise
policies, new research has revealed.
Two thirds of the UK’s entrepreneurs do not believe the UK’s
tax regime supports and encourages enterprise, according to the
poll by PricewaterhouseCoopers.
A quarter of respondents said simplicity and stability was at
the top of their government policy wish-list. A further 84% said
a more effective business voice within HMRC and the Treasury was
needed.
Mary Monfries, head of UK private business, PricewaterhouseCoopers
LLP, said:
“Private business is calling for a stable, certain tax environment
in which to conduct their business successfully. Reducing tax
rates would be a challenge in the current economic climate, but
a reduction in the rate of change and uncertainty should be easier
to deliver.
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If you want to go it alone in business you’re not alone. A massive
71% of all British businesses have no employees according to Department
for Business Innovation and Skills (BIS) figures. So you could say
that sole traders pretty much drive the UK economy.
Half of all new businesses fail during the first two years. All
too often the cause of failure is not the quality of the product
or service, the effort and talents of the people, or the sales and
marketing. It is quite simply financial failure - running out of
money - which leads to closure, if not bankruptcy.
Nearly all businesses need some level of liability insurance, and
employer’s liability insurance is the most common one.
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