Small firms rely on family and friends

Posted on 21 Jun 2017
Share Blog Post

 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.

View more blog posts

Two tier tax system introduced
Posted on 07 May 2025
Two tier tax system introduced
read more
Lending gap stifles UK SME's
Posted on 30 Apr 2025
Lending gap stifles UK SME's
read more
Costly tax compliance
Posted on 23 Apr 2025
Costly tax compliance
read more
SME owners flee UK in droves
Posted on 16 Apr 2025
SME owners flee UK in droves
read more
Back To Top
01604 660661