Aegis Accounting Dan Woodward

Coronavirus has us thrown all of our businesses into a spin, but as we clasp our dizzy heads and struggle to focus on the swirling mess that surrounds us, there are opportunities to be had: cheap money via Bounce Back Loans, free labour via the Kickstart Scheme, and the ever-present opportunity to pick up other businesses.



Here, I discuss all of this in turn.



Show notes and links (including our always-up-to-date guidance) and all other platforms we post on, can be found at https://aegisaccounting.co.uk/blog/podcast-11-coronavirus-kickstart-scheme-marketing-and-other-opportunities

The Coronavirus Job Retention and Self-Employed Income Support schemes have both now been announced, with guidance documents made available from HMRC. Both aim to provide a grant worth 80% of your income up to £2,500 per month, in principal, but details and eligibility are complex for the non-traditional employed - particularly if you are a limited company owner-director. Luckily, an official answer on that specific scenario has been provided by Her Majesty's Treasury, albeit buried in a webinar.



Here, I outline how each scheme can help, and how and when you can apply for support.



Show notes and links (including our always-up-to-date guidance) and all the other platforms we post on, can be found at https://aegisaccounting.co.uk/blog/podcast-10-support-for-small-business-during-covid-19-31st-march-update

The support available to small businesses and the self-employed amid measures to control the spread of COVID-19 is still lacking, but help is being actively worked on in Westminster, to 'top up' self employed and freelancer income to 80% of the last 3 years net profit, or £2,917, whichever is lower. But the proposal is not finalised into legislation and we are still awaiting to understand if or how this will help limited company owner-directors, or contractors who pay themselves via dividends.



Again, more changes and more support will surely follow, imminently. For now, I outline what help is available and when we'll know more about how and when you can apply for support.







Show notes and links (including our always-up-to-date guidance) and all the other platforms we post on, can be found at https://aegisaccounting.co.uk/blog/podcast-9-support-for-small-business-during-covid-19-25th-march-am-update

The chancellor has put in place some extraordinary measures to support small businesses and the self-employed amid measures to control the spread of COVID-19. More changes and more support will surely follow, as many agree that what has already been announced does not yet go far enough. For now, I outline what help is available and when we'll know more about how and when you can apply for support.



Please note: The quality of this video is reduced in comparison to our usual podcasts, as speed is of the essence in spreading the message regarding this highly time-sensitive topic!



Edit: Since today's daily briefing by the Prime Minister and his advisers at Downing Street, I understand the chancellor will have more to add tomorrow regarding a so-called 'package for workers' - we will provide an update as soon as we are able!





Show notes and links, including all the other platforms we post on, will soon be found at https://aegisaccounting.co.uk/blog/podcast-8-support-for-small-business-during-covid-19/

The UK budget for 2020-21 has finally landed, with some clarifications to SSP and other support available amid the COVID-19 pandemic. We look at this and also some principles, specific tools and delegation tips to consider if you decide to bring in remote working to your small business to cope with the inevitable self-isolation brought about by corona virus.





Budget 2020-21:

A whole bunch of measures are in place to mitigate the impact of COVID-19, including clarification that the government will reimburse employers with fewer than 250 employees for up to 14 days of SSP per employee, including those who self-isolate. 'New style' Employment and Support Allowance is the alternative option to SSP for the self-employed, and it will also be payable from the first day of self-isolation or sickness. This plus the changes to National Living Wage and the effect on the Minimum Income Floor for Universal Credit claimants is discussed.



Remote working principles:

Working remotely as a team can be a challenging setup. A recent article from Harvard Business Review helpfully outlined some of the important principles you may need to adopt, such as reinforcing goals and roles, especially clarifying any changes due to the new working setup. Refer to the article for an outline - it's helpful stuff.



Remote communication tools and delegation tips:

A messaging platform with status and availability indicators can be great for showing who's available or busy and who's working on what, which is particularly important for workers to be able to stem the all-too-human suspicion that they might be shirking. In previous employment, I used Lync - now Microsoft Teams - which was useful for synchronising my availability and 'status' to my calendar, but there are other options available that at least offer always-on communication like Signal, Google Hangouts and Slack.



When delegating tasks, especially if by email, I like to use the 7 golden rules of delegation - see this in detail, and how to apply them 'upwards', in the show notes.



Show notes and links, including all the other platforms we post on, can be found at https://aegisaccounting.co.uk/blog/podcast-7-budget-2020-21-remote-working-principles-and-tools

New SSP obligations for employers amid the COVID-19 outbreak, but any help for the self-employed or those on zero-hours contracts? Donald Rumsfeld's classic Unknown Unknowns speech confused a nation, but what are they and how might they affect your business? And, when problems strike, how can you use the tools of 5 Whys and Ishikawa Analysis to seed your action plan.



COVID-19 and SSP: In response to the current outbreak of Covid-19, the Prime Minister spoke of a change to Statutory Sick Pay, indicating it would become payable on day 1 of self-isolation due the virus, to avoid anybody being "penalised for doing the right thing" - but employers will foot this bill, not the government (though it's only an extra £40), and it only affects those eligible and earning more than £118 per week... some zero-hours workers won't qualify, and what about the self-employed?

The article from I quoted in this podcast is linked to in the show notes, below.



Unknown Unknowns: Donald Rumsfeld famously spoke about 'unknown unknowns' in his speech around the time of the Iraq war, confusing the room, his nation and much of the watching world. But sudden issues that are near impossible to predict are a staple of the world, and can affect business hard. Just look at Corona Beer's £132m loss due to a similarly-named virus. Was that on a threat-watch list somewhere in their head office with a mitigation plan ready to go? Unlikely...



5 Whys and Ishikawa Analysis: When problems strike and the cause is unclear, asking 5 whys (much like a petulant child) can actually be a helpful approach. If you add to that an acknowledgement that some things may have multiple causes, use of Ishikawa Analysis (or the 'fishbone diagram') can really help. Go 5 why's deep and you might discover some common underlying themes, some causes you might be able to identify as highly likely and some that are easy to fix. It's a straightforward exercise to give a go if you're facing some complex problems.



Show notes and links, including all the other platforms we post on, can be found at https://aegisaccounting.co.uk/blog/podcast-6-covid-19-and-SSP-unknown-unknowns-5-whys-and-ishikawa-analysis/