UK economy shows green shoots as more people return to high street

(2 minutes to read)

FSB: "The green shoots of the economy are visible, but we cannot see these and become complacent, for some firms it will take many months and potentially years to fully recover from this crisis."

The economy is showing signs of recovery, with recent ONS figures showing that retail sales were rising across the country.

July retail sales volumes increased by 3.6% when compared with June, and are three per cent above the pre-pandemic levels in February 2020, while interestingly, online sales dipped by seven per cent as people started returning to the high street.

Responding to these latest figures, Federation of Small Businesses (FSB) National Chair Mike Cherry, said, “In what is no doubt one of the toughest periods of trade for small businesses in recent history, it’s promising to see that people are indeed confident enough to go out and shop once again.

“One clear sign that people are physically shopping once again is the first drop in online sales (down 7% on June ’20) since November 2019, which after a record period of online sales throughout lockdown was inevitable. But many small firms, especially in recent months have either expanded or developed their online presence, so it’s vital that both physical as well as online sales remain buoyant.”

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Mike added, “Many small firms have been only open for a matter of weeks, but the support that was on hand such as the job retention scheme, incentives like Eat Out to Help Out and access to funds via local authority grants are all going to be closing or wound down over the next few weeks or months, which means that the struggles for small businesses show no end in sight.

“We are in the midst of the deepest recession on record, and we need the Government to take a proactive approach to how it will support business right across the country. After months of measures to ensure job and business survival, the next stage is about how we can grow once again to aid business and job creation.

“We are calling on the Government to issue the most pro-business, pro-self-employed Budget ever seen that encourages innovation, brings goods and services to market while avoiding taxes that could further stifle already struggling businesses.”

To find out more about contracting please contact Jaime on 01442 795 100 or email jaime.thorpe@dolanaccountancy.com

Why Dolan Accountancy?

Dolan Accountancy was set up by Simon J Dolan, the man behind the well-known brand SJD Accountancy. With over 25 years experience in the contracting marketing, Dolan Accountancy has the heritage, reputation and credibility you can trust. Working closely with our sister company, Contractor Umbrella, it means we can offer one low cost, fixed fee package at £95 + VAT per month. This gives you the flexibility of using both our Limited Company Accountancy Services and our award winning Umbrella Service, for one inclusive cost. We don’t believe in tiered packages or hidden extra fees, instead we aim to give you everything you need, including:

  • Free Company Formation – This is where it all begins. Once you have decided on an available name, we will form your company free of charge (if using our accountancy services) and it will be ready for you to use in as little as three hours.
  • Free use of Contractor Umbrella – With changes in Public Sector IR35 Legislation we understand that sometimes you are required to contract via an umbrella company. We will keep your limited company ticking over, while you work margin free via our sister company, Contractor Umbrella.
  • A Dedicated Accountant – Your accountant will be there for any company or personal tax advice that you require. We will never outsource work, even to internal teams.
  • Free Access to FreeAgent – The founder behind the multi award winning FreeAgent platform was one of Simon’s first clients, therefore it only seems fitting that we offer all of our clients access to FreeAgent, free of charge.
  • Free Business Banking – We have decided to waive our commission so our clients can use Tide free of charge for the first year.
  • Unlimited IR35 Status Reviews – We will review all of your contracts for IR35 purposes and provide you with our professional opinion as to its status.
  • Free Registered and Director’s Service Office Address – Sometimes you just don’t want your home address on display at Companies House. When you sign up to our accountancy services, we will offer the use of our address as an alternative.
  • Your Business and Personal Taxation Needs – This includes Company Accounts, Director’s Personal Tax Return, VAT Returns, Payroll, Corporation Tax and Dividend advice, to name just a few.
  • Same day payments- We offer same day payments as standard providing funds are received into our account by 9am, for no additional fee.

If you’d like to find out more about how Dolan Accountancy can help you and your business, please give us a call on 01442 795100 or email sophie.lewis@dolanaccountancy.com or jaime.thorpe@dolanaccountancy.com.

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