London Business News. Episode #2 |By Hold Everything Virtual Office


The big story of the week was the Chancellor’s
spring budget statement. There were some important points for small businesses. There will be an extra £80 million released
to help small businesses recruit apprentices, Business rates revaluations will be brought
forward a year to 2021 He told the House: “We are the party of small business and the
champions of the entrepreneur.” EIGHT out of 10 start-ups begin life with
friends or relatives of the founder being roped in to help out, a study found. Researchers who carried out a detailed study
among 1,000 businesses found the majority prefer to employ their nearest and dearest
than risk taking on unsuitable candidates. It also emerged young people are now more
likely to set up their own small business than any other age group. According to the data almost 69 per cent of
new businesses set up in the past five years were started by those aged between 18-34. Jersey’s small businesses are finding niches
in the market One of them, Sleep Well Milk, was founded
18 months ago by husband and wife team Allan and Sam Watts, and last month became members
of the prestigious Guild of Fine Foods. They successfully launched their first product,
and expect to launch a chocolate-flavoured drink in the spring. Director Allan Watts said this was another
milestone in what had been an astonishing year for the company, including a listing
with Fortnum and Mason in time for Christmas.

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About the Author: Oren Garnes

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