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Should I take one of these government-backed loans?
I hate the thought of being in debt. Should I take one of these government-backed loans? This is a question I’ve been asked by many business owners in recent weeks. There are lots of people who have a real fear of being in debt. The thought of it makes them...
read moreThe cash is finally flowing – an update on CBILS and BBLS
Well it’s about time! Statistics released yesterday show that more money has been lent under the Bounce Back Loan Scheme (BBLS) in its first week that the Coronavirus Business Interruption Loan Scheme (CBILS) in more than a month. In the week since it went...
read moreBounce Back Loans Scheme (BBLS) going live on Monday and CBILS update
Bounce Back Loans, which are available to the smallest SME businesses are going live on Monday, 4 May. These loans will be available up to 25% of your turnover, with a maximum loan of £50,000. Bounce Back Loans are 100% guaranteed by the UK government...
read moreCBILS Update – Tales from the Front Line
Over the past 10 days, I have interviewed around two dozen entrepreneurs about their CBILS experiences and also spoken with senior bankers from several high street banks. Everyone was promised anonymity in return for giving me the full story of CBILS from their...
read moreCJRS Update – portal going live on Monday
They’ve done it! The HMRC portal for claiming under the Coronavirus Job Retention Scheme goes live on Monday 20 April. They haven’t said what time it goes live. Night owls, I recommend you stay up on Sunday night and try to access the portal in the wee small...
read moreCJRS Update – a step in the right direction but still not enough
Much noise was made yesterday about the latest changes to the Coronavirus Job Retention Scheme (CJRS). It’s definitely an improvement, but it still leaves many who changed jobs after 28 February in the void. There’s been a little more about the portal for...
read moreCJRS Update – clarity for company directors
The government has updated the rules of the Coronavirus Job Retention Scheme. The underlying rules of the scheme are unchanged: You can claim 80% of the wages of furloughed employees up to a cap of £2,500 per employee per month, plus employer’s NI and...
read moreCBILS Update – the Chancellor has listened
Finally, there is some good news for SME business owners. It’s been two weeks since Chancellor Rishi Sunak announced CBILS, the Coronavirus Business Interruption Loan Scheme, and SME business owners are getting scared. The government said the money would be...
read moreBig Temporary Changes to Insolvency Law and Wrongful Trading Announced
Yesterday, Alok Sharma, the Secretary of State for Business, Energy and Industrial Strategy gave the government’s daily briefing to the press. Among other things, he announced that there would be a temporary relaxation to insolvency laws, designed to give company...
read moreAn Open Letter to Chancellor Rishi Sunak
This is an open letter I've just posted to the Chancellor to try and redress the gaping hole that entrepreneurs and self-employed people find themselves in. Dear Chancellor, The actions that you and the government have taken to protect the...
read moreThe Coronavirus Job Retention Scheme in plain English
At last, HMRC has published guidelines on the operation of the Coronavirus Job Retention Scheme (CJRS). Here they are, translated into plain English. Who qualifies? Any UK organisation that is registered with HMRC for PAYE and had employee(s) on the...
read moreThe Chancellor giveth, and the Chancellor taketh away
Help for the self-employed? Not if you’re doing well. I have to say that I’m very worried by the Chancellor’s announcements this evening. Rishi Sunak opened his presentation saying that the self-employed would get a similar deal to employees who are furloughed...
read moreThe Coronavirus Business Interruption Loan Scheme (CBILS) is now live
The scheme announced by the Chancellor last Wednesday has now gone live, and there are more than 40 accredited lenders - including all the main high street banks - who offer CBILS. It is strongly recommended that you initially approach your existing bank(s)....
read moreUK Governments Support for SME Businesses
There have been some big announcements this week from the UK Government about support for businesses affected by Covid19. Not all of the details have been made available, but I wanted to write to you setting out what I have interpreted from the announcements...
read more10 Book Cover Challenge
Recently, I was challenged by a friend to post the covers of 10 books that greatly influenced my leadership and business. One book per day, for ten consecutive days. No explanations, no reviews, just book covers. It was really fun to do, and several people have...
read moreGiving Thanks
Over the last few weeks, I’ve been delighted to share some excerpts from my upcoming book with you. In writing these posts, I’ve been struck by the wide range of influences I’ve had, and of the transformative power of other people’s work. Most of all, however,...
read moreBalancing Life’s Dichotomies
At Add then Multiply we're big believers of a work-life balance, navigating our dichotomies, and knowing when to switch off and when to switch on as an entrepreneur. With this in mind, David recently joined a podcast session with Mike Reid, the Co-Founder of...
read moreA Book for and in Celebration of Entrepreneurs: Part II
‘If you want to glide toward money, you have to make sure your message is clear as a bell, and you need to ensure that you have a unified team capable of communicating it.’ -Alejandro Cremades, Founder of crowdfunding platform Rock the Post/Onevest and...
read moreA book for and in Celebration of Entrepreneurs: Part I
As promised, this week I share more of the contents of Add then Multiply: How Changing the Rules Unlocks Exponential Business Growth, with you. Writing this post, which is a summary of what you will find in my upcoming book, I’ve been struck by the wide range...
read moreOh the Places We’ll Go!
“The more that you read, the more things you will know. The more that you learn, the more places you’ll go.” – Dr Seuss This quote by Dr Seuss perfectly sums up the journey I’ve had in writing my book, for it has granted me access to places and...
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