Latest news and industry views direct from Cypher HQ

One of the on-going effects of the Covid-19 pandemic could be the creation of new, innovative businesses. 2020 saw a record number of companies created, with an extra 84,758 businesses starting up compared with 2019. We shouldn’t be too surprised; every economic downturn in history is accompanied by a rise of entrepreneurship.

Let’s face it, 2020 has been a year like no other. Instead of the perfect 2020 vision, we experienced a year that has changed the way we work, live, interact and shop like no other time in history. But there is light at the end of the tunnel.

Last week I was delighted to speak at this year’s Digital Accountancy Week. It was a virtual event and I enjoyed a ‘fireside chat’ with a representative of Fathom, who provide our state-of-the-art business performance and planning software.

Earlier this year, as business owners struggled to come to terms with the impact of Lockdown 1.0, we hosted a webinar on this very topic. As the UK enters Lockdown 2.0 we wanted to revisit one of the most critical issues for small business owners: managing their cash flow.

From the 1st September, the new 70 registration plates have been released, as the DVLA makes a change to its car registration system. This new system will see 2s and 7s in the number plate throughout the 2020 decade.

In September, the Government announced the launch of its new £2billion Kickstart scheme which is designed to fund six-month, paid, job placements for people aged between 16 and 24 who are on Universal Credit and at risk of long-term unemployment.

Whether you want to set up a side hustle or create a start-up company for yourself, there are some key decisions you must make first.

Let’s be honest, the reason any business is set up is to create wealth for a business owner and their family or to create funds to give away or invest into other ventures.