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Your thoughts? The government have announced that they are minded to move the election from May 2026 to May 2028. This election is being held because Norfolk County Council and Suffolk County Council applied to be part of the Government's Priority Programme for Devolution. This involves the creation of a new Combined County Authority covering both areas. The Combined County Authority will be led by the elected Mayor. The new authority will not replace local councils. Instead, it will act as a strategic authority, sitting between local councils and national government. Its purpose will be to handle key areas at a strategic level.

The Governemnt has announced that it's scrapping the Audit Reform and Corporate Governance Bill. The reason given is to reduce costs on firms. This programme of refrom has been in the pipeline and kicked into the long grass several times, since the collapse of the big construction company Carillion in 2018. It took thousands of small construction firms with it and the ripples reached out as far as small micro businesses on the sidelines like cafes. This isn't good news and leaves gaps which could mean that future corporate failures have a similar impact. Cutting red tape to boost the growth agenda has consequences and there will be losers.

Hello - this is our opportunity to provide a space for 24/7 help and discussion. This is your space so please use it. Alex Till Chief Executive Officer (CEO)

Have you tried to find money to fund your business? If so did you need working capital or money to invest for growth. If the banks are persuaded by Government to lend more to small businesses that could be positive but only if businesses get the right typr of funding for the stage their business is at. Just getting a loan isn't the answer if the business will have problems, or get into deeped problems, trying to repay that loan or if it comes with the worn strings attached. I know of businesses where lending was dependent on personal guarantees and those guarantees were called on when the repayments fell behind. I know of businesses that got loans but weren't able to grow the business and ended up worse off trying to create enough income to service the loans. We need support for businesses to make sure they are ready for the funding, are looking for the best kind of funding for the stage their business is at and have the right support to make sure they are using the funding in the right way. It's about more than just money. Please let me know your experience.

The UK’s payments on account system catches a lot of new sole traders by surprise. Payments on account are advance payments towards your next Self Assessment tax bill (in this case for the year 25/26). You pay them on top of any tax you owe for the previous (24/25) tax year. HMRC uses payments on account to help spread the cost of your tax across the year rather than collecting it all at once. They apply mainly to: • self employed people • landlords • anyone with untaxed income They are based on last year’s tax bill HMRC assumes your income next year will be similar to the previous year. So each payment on account is half of your previous year’s tax bill. You make two instalments • 31 January • 31 July You may also need a “balancing payment” If your actual tax bill ends up higher than the two instalments you’ve already paid, you pay the difference the following 31 January. If you paid too much HMRC will refund you. You won’t be asked to make payments on account if either: • your last tax bill was £1,000 or less, or • 80% or more of your tax was already collected at source (e.g., PAYE). If your tax bill last year was £3,000, HMRC will ask you to pay: • £1,500 on 31 January • £1,500 on 31 July towards next year’s bill. If your actual bill ends up higher, you pay the extra as a balancing payment the following January. It’s particularly tough to find the additional money to pay on account if you’re fairly recently self-employed and weren’t expecting it. You may have put aside money to cover tax on the amount you were earning but not to cover the additional amount. HMRC doesn’t automatically require new sole traders to pay tax on account in their first year. The rules above apply, You will have to make Payments on Account if both of these apply: Your tax bill for the year is more than £1,000, after subtracting any tax already deducted at source (e.g., PAYE). Less than 80% of your total tax was collected at source. If those conditions apply, HMRC will ask you to make: • First payment on account: 31 January • Second payment on account: 31 July Each is normally 50% of your previous year’s tax bill. You won’t have to make Payments on Account if: • Your tax bill is £1,000 or less, or • More than 80% of your tax was already deducted (e.g., you still have PAYE employment), or • HMRC decides your first year’s liability is too low to trigger the system. This is very common for brand new sole traders whose first year is part time, low income, or mixed with PAYE work. If: You start self employment in 2025/26 and owe £600 in tax. → No payments on account. You owe £2,500, but you also have PAYE employment that covered 85% of your total tax. → No payments on account. You owe £2,500, and PAYE only covered 20%. → Yes. You will have to make payments on account. If you’re unsure whether you’ll cross the £1,000 threshold, try to set aside 20–30% of your profits so you’re covered whether payments on account apply or not. This is an example where a qualified accountant can keep you right. You may worry that the fees will be too expensive but accountants will keep you safe and probably save you money in the long run. Check their qualifications. Unqualified people calling themselves accountants have been known to give poor advice.

A–Z of Starting a Small Business in 2026 Here are the basics. You’ll want more detail and perhaps assistance to get all the processes right. Business111’s search function will point you in the right direction. Accounting, Automation and AI Set up bookkeeping from day one. Use simple tools (FreeAgent, QuickBooks, Xero) and automate invoicing, reminders, and expenses. AI tools can draft proposals, chase payments, and analyse cash flow. Business Plan & Business Model You don’t need a 40 page plan. You need clarity on: • what you sell • who you serve • how you make money • how you deliver • what it costs A one pager is enough to start with and constantly review and revise it. Cash Flow All important. Cash flow is the No.1 reason micro businesses fail. Build a buffer, forecast monthly, and protect yourself from late payments. The figures in your business are what really tell you the story. Digital Presence Your online footprint is your shopwindow if your business is online only. That means: • a simple website • an online Business Profile • one social platform you show up on consistently Expenses & Efficiency Track every cost. Claim allowable expenses (keep the records) Streamline your processes from the start and avoid stress later. Funding & Finance Explore grants, start up loans, local authority schemes, and sector specific funds. January is a key reset point for many funding programmes. GDPR & Data Protection Even micro businesses must comply. Have a privacy notice, secure data storage, and clear consent processes. HMRC Registration Register as self employed or set up a limited company. Understand tax obligations, payments on account, and allowable deductions. Insurance Most businesses need at least: • public liability • professional indemnity • employer’s liability (if you hire anyone) • cyber cover is increasingly essential. Journey Mapping Map the customer journey from their first contact with your business to repeat purchase. This helps you design better experiences and reduces the chances of losing customers to your competition. KPIs (Key Performance Indicators) Track what matters: • leads • conversion rate • average order value • customer lifetime value • monthly recurring revenue (if relevant) Legal Structure Choose between: • sole trader • limited company • partnership • CIC or social enterprise Each has different tax and reporting requirements (see Business111 Resources) Marketing Strategy Pick one core channel and master it. Consistency beats complexity. Networking & Niche Communities Join local business groups, sector networks, relevant or specialist communities, and business forums. Businesses thrive through connections and sharing tips and best practice. Operations Document your processes early: • onboarding • delivery • invoicing • customer service • refunds This saves time and supports growth. Pricing Price for sustainability, not survival. Yopu won’t survive if you’re only breaking even or can’t pay yourself a salary. Review your prices regularly and make sure you aren’t undercharging, which is a very common business mistake. Quality Control Whether you sell products or services, create simple quality standards. Consistency builds trust. Risk Management Think about: • cyber security • compliance with the regulations such as tax and VAT • supply chain • financial risks • reputational risks A basic risk register is enough. Sales Strategy Know your offer, your value, and your ideal customer. Create a simple sales script or pitch. Tax Understand: • income tax • corporation tax (if Ltd) • VAT thresholds • payments on account • allowable expenses Set aside 20–30% of profits to stay safe. USP (Unique Selling Proposition) What makes you different? Your story, your values, your niche, your method, all contribute to your competitive edge. Visibility Show up regularly. People buy from businesses they recognise and trust. Website A simple, clean, accessible website is enough. Include: • what you do • who you help • prices (if possible) • how to contact you • testimonials eXpectation Management Set clear expectations with customers: • timelines • deliverables • boundaries • communication channels This reduces complaints and increases loyalty as long as you stick to your promises. Yearly Planning Set annual goals, quarterly priorities, and monthly actions. Review and adjust to make sure you can be agile enough to respond to changes. Agility is a superpower. Zero Burnout Your wellbeing is a business asset as is that of any people you take on. You need a zero tolerance approach to anything that undermines wellbeing. Set boundaries, take breaks, and build a support network to avoid the feeling of isolation. If you aren’t thriving the business won’t either.

It’s that time of year. Many of us are thinking about how we’ll do things differently over the next 12 months with the aim of making our businesses thrive. After all the disruption and uncertainty coupled with challenges like the rising cost of doing business and customers with less money to spend, a new year seems like the ideal time for new approaches. I’ve been looking for a list of 12 resolutions, one a month, to work on over the coming year and as my business friends tell me I have to be specific, make ambitions measurable and realistic or they will end up abandoned in January. Here's my list: Build a cash flow buffer of 3–6 months Businesses fail more from cash flow shocks than poor sales. A buffer gives stability, bargaining power, and breathing space and could mean you don’t have to borrow at huge expense during the year if you have an invoice that doesn’t get paid when you expect it to. Raise prices strategically rather than emotionally Many small businesses undercharge because they’re scared of losing work or sales. Review your prices regularly, benchmark against your competitors, and increase prices realistically, adding value if you can. Automate the things you can automate Get the tech tools to do the jobs that drain your time: invoicing, chasing payments, onboarding, scheduling, stock checks. Yes they cost but they’re a real investment freeing you up to spend on the business rather than in the business. Time is better spent thinking and planning than filling in forms. Diversify income streams 2026 is the year of multiple revenue channels: • digital products • subscription add-ons • partnerships • B2B services • seasonal bundles Even one new revenue stream can make a business more resilient. Get paid fairly Many businesses lose money to unfair payments like overdue invoices or unfair terms in a contract. Change that: • Check the payment terms offered and negotiate better ones • automate reminders • ask for deposits, up front payments to cover stuff you have to pay for before work starts, or payment in stages as work is completed • charge interest and compensation if the payments are overdue (this is set out in legislation) la • use invoice chasing tools Getting money in when you expect it to come in can save you the expense of borrowing just to stay afloat. Invest in keeping your customers rather than having to find new ones Returning customers cost less and spend more. Think about: • loyalty perks • follow up support • personalised check ins • feedback loops Gather your data Even the smallest businesses can track: • cost per lead • conversion rates • top performing products • busiest days • customer lifetime value When you collect useful data you can review them regularly and use them to decide next steps. Build you story and spread it Businesses win on authenticity. Refresh your brand story, update your website, and show up consistently on one chosen platform to increase trust. Create a 12 Month Content Plan • 4 themes • 12 monthly focuses • weekly posts A plan helps reduce stress and builds authority. Factor in your own wellbeing and boundaries Burnout is real: • set working hours • take breaks • delegate • protect weekends If you are healthier the business will be too. Review your compliance and risk management All the following need regular auditing: • data protection • cyber security • employment practices • accessibility Build your support network Businesses thrive with the help of mentors and business advisers as well as groups of people who all want to help each: • local business groups or groups in your sector • sector networks • minority led communities • disability inclusive business forums • peer groups You may think you don’t have time for networking but networking with the right supportive groups can save you time and save you stress, isolation and money, perhaps even save your business. Here’s wishing all businesses a prosperous and thriving 2026.