Small firms rely on family and friends

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 Small firms relying on friends and family

A new report from Lloyds Bank Insurance has suggested that two-thirds of Britain’s micro businesses rely on mostly unpaid support from friends and family to stay afloat, as red tape and increasing employment bureaucracy dissuades business owners from taking on new staff report Harris & Co chartered accountants Northampton, the specialist small business accountants. Friends and relatives spend an average of six hours a week helping micro businesses, defined as firms with fewer than 10 employees, offering support such as managing social media accounts and helping with childcare.

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