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For a successful business, you need a viable business idea, the skills to make it work and the funding. Discover whether your idea has what it takes.

Forming your business correctly is essential to ensure you are protected and you comply with the rules. Learn how to set up your business.

Advice on protecting your wellbeing, self-confidence and mental health from the pressures of starting and running a business.

Learn why business planning is an essential exercise if your business is to start and grow successfully, attract funding or target new markets.

It is likely you will need funding to start your business unless you have your own money. Discover some of the main sources of start up funding.

Businesses and individuals must account for and pay various taxes. Understand your tax obligations and how to file, account and pay any taxes you owe.

Businesses are required to comply with a wide range of business laws. We introduce the main rules and regulations you must comply with.

Marketing matters. It drives sales and helps promote your brand and products. Discover how to market your business and reach your target customers.

Some businesses need a high street location whilst others can be run from home. Understand the key factors from cost to location, size to security.

Your employees can your biggest asset. They can also be your biggest challenge. We explain how to recruitment and manage staff successfully.

It is likely your business could not function without some form of IT. Learn how to specify, buy, maintain and secure your business IT.

Few businesses manage the leap from start up to high-growth business. Learn what it takes to scale up and take your business to the next level.

Early signs that UK SMEs could be on the road to recovery

26 May 2020

Research by Barclaycard has found that, despite significant challenges in the short term, there are early signs that small firms in the UK are starting to recover.

Barclaycard Payments' second SME Barometer has found that the number of SME clients actively taking payments has increased by 24% since the low point in early April, shortly after the start of the COVID-19 lockdown. And almost two-thirds of SMEs say they are planning to invest in their business over the next 12 months.

Even so, UK SME revenue is predicted to fall by 28% in Q2 2020, with almost three-quarters of small firms expecting coronavirus to have a significant impact for the next three months. However, only 19% expect a significant impact on their business after 12 months.

The report found that business sentiment has dropped by 31 points this quarter, down to 79 points out of a possible 200, with any score below 100 indicating a negative sentiment. More than four in five SMEs (82%) say coronavirus has already had a negative impact on their business and 73% say coronavirus will continue to have a significant negative impact for the next three months.

However, many businesses remain positive about the future, with 64% of SMEs saying that they are planning to invest in their business over the next 12 months. Top areas of focus will be marketing (26%) and new equipment and technology (20%).

The findings also show that micro, small and medium-sized businesses are feeling the impacts of coronavirus differently. Micro businesses have been the hardest hit, expecting revenue to drop by 30% in Q2 compared to last quarter and reporting a sentiment score of 75, down 34 points from last quarter. Meanwhile, small businesses stand at a sentiment score of 88 and medium-sized businesses at 87.

Medium-sized businesses are most likely to say they've had to reduce staff hours or lay off staff (64%), compared to a national average of 47%. Small businesses are more likely to report disruptions to supply chains, at 47% over a national average of 37%.

Konrad Kelling, head of small business acquiring at Barclaycard Payments, said: "It's encouraging to see small and medium-sized businesses starting to come online again as we emerge from lockdown. While we don't expect an overnight recovery, the resilience and perseverance of small businesses gives us optimism as we look towards the next 12 to 24 months."

Written by Rachel Miller.