It’s back again: 15 January marks Blue Monday 2024.

This infamous day gets a mixed reception when it rolls around, with some feeling concerned and others flouting it and treating it like any other day.

After all, the whole idea of Blue Monday comes from a formula to define ‘the most depressing day of the year’ in order to boost sales.

Even Cliff Arnal, the psychologist who devised the formula to pinpoint this gloomy day in the calendar, has vehemently refuted it since and urged people not to buy into it.

It’s easy to see how people get sucked in though. Blue Monday is everywhere. We’ve been getting loads of press releases about how staff can boost employee morale, facing the marketing deluge head-on.

But with all this said, web searches for ‘employees’, ‘morale’ and ‘Blue Monday’ are on the up too.

That tells me that, prescribed or not, there is bleakness around today. It’s enough for some employers to want to step in and minimise the damage, anyway.

How are they helping?

Whether you see it as a genuine positive or easy point-scoring, any chance to boost employee morale is a good thing.

It doesn’t even have to be much: arranging an informal do, bringing cakes in or doing some sort of team-based activity.

Here are a few examples of how small businesses have made Blue Monday their own.

Erris de Stacpoole, senior account manager at The Media Foundry

‘In a bid to tackle Blue Monday, we at The Media Foundry have launched an annual pub quiz called ‘Bye Bye, Blue Monday’. We are on a mission to banish any doom, gloom and blues. The first prize is a Golden Sausage Award’

James Shillaker, director at Incorpore Ltd

‘This Monday we will be treating our office to breakfast and coffees all around to start the day right and put people in good spirits.’

Steve Arnold, CEO of e-days

‘I brought a puzzle back from my holiday in Mexico and on Blue Monday every employee (about 30 of them) will get the chance to complete the puzzle the fastest (within ten minutes). The fastest person gets a prize – an early finish from work.

‘It means everyone gets a fun 10-minute extra break, and it’ll take their mind off work for a little bit. It also creates a great atmosphere of competition, engagement and excitement that everyone can get involved in. It’s a simple idea that’s great for mental wellbeing, for brain health and for general camaraderie.’

Rebecca Siciliano, managing director at Tiger Recruitment

‘This year, Tiger has timed Blue Monday with the announcement of its company incentives for the year, to get staff motivated and engaged about the year ahead. We are also running an exercise bootcamp to get people moving after work and for those who can’t take part in that, have organised a drinks get-together.

‘There’s also have a mental health ambassador who has written a newsletter on wellness and mental health to go out on Monday with tips to avoid the January blues.’

To counter the very notion of Blue Monday, Samaritans runs an annual Brew Monday campaign. It encourages people to get together over a cuppa for a catch-up on the third Monday in January – or at any other time of the year.

Making real change

Despite the cynicism around the third Monday in January, it arguably has the same role as sadness does in general: pulling attention towards a problem that needs addressing.

“It arguably has the same role as sadness does: pulling attention towards a problem that needs addressing”

Some of your employees might not even be feeling down, but it’s essential to have the information they need if life takes a turn. Debra Clark, head of wellbeing at Towergate Health & Protection, explains: “Typically people only take notice of the things that directly affect them. If they are not suffering from mental health issues at the time, they will likely ignore any messages regarding mental health support. This is why it is vital that a wellbeing programme has all elements regularly communicated, so that support is front of mind at the time that it is needed.”

For some small business owners, Blue Monday highlights changes that can be made to improve staff morale in the longer term rather than just for one day.

Alan Lynch, CEO of Compare&Choose

‘As a company, we believe in looking after mental health and not just on specific days.

‘We have a flexible work policy in place. I don’t like the pressure that is puts on my staff when they have set work hours. Their tasks must be done but in their own pace – if my staff need a mental health day then they get one.

‘So, if any of my staff will be feeling worse for wear coming, they know they can come to me and do whatever they need to do to feel better. It’s possible because we’re a small company with a handful of staff.’

Mike Foster, creative director at Straight Forward Design

‘I believe the feeling of ‘Blue Monday’ (something which arguably rolls out intermittently over the whole year) can be staved off with in-house projects which are not client-based.

‘On top of that, I try to keep employees happy throughout the year by encouraging side projects in-office. It makes good business sense: smart employers want their team members to feel fulfilled, connected to the organisation and motivated to do great work.’

Mike Nolan, co-founder of PressPlugs

‘Rather than some gimmick, we try to help employees by advising them to focus on the positive. It’s all about a healthy mindset.

“Blue Monday is a great day to start to change things”

‘Every Monday morning – and we’ll probably go for a longer session on Blue Monday – we stop what we’re doing for around 20 minutes and practice some mindfulness meditation. This is followed by a simple exercise where they are asked to write down 20 things that they are grateful for.

‘Finally, we try and all have a healthy lunch – having something pleasant built into the day covers all points.

‘It’s vital that employers take note of their employees’ mental health and Blue Monday is a great day to start to change things.’

Read our essential guide on improving employee motivation in the workplace for more.

The post Blue Monday and employee morale: moving beyond the gimmick appeared first on Small Business UK.

Today, remote work is fast becoming the norm for small and medium businesses (SMEs). As digital transformation continues to reshape all industries, more and more SMEs are adopting a flexible, remote way of working. Remote work doesn’t just give employees greater flexibility and the opportunity to work from home. It also has a range of other benefits, including reduced office space and car parking costs and improved employee satisfaction.

However, if you’re considering adopting remote work for your small business, it’s essential to understand how remote workers can impact your organisation’s productivity and culture. With so much uncertainty around remote work adoption among SMEs today, this article addresses the challenges related to implementing it within your organisation. So you can optimise processes for the future of remote work.

Benefits of remote work for SMEs

The top benefits of remote work are flexibility, less stress, improved focus, a better quality of life, lower costs, less absenteeism, better employee retention and more productivity. There are many benefits of adopting a remote work policy within your organisation, including:

Improved employee satisfaction

With the rise of the freelance economy, remote work has become increasingly popular. In times of uncertainty, remote work provides employees greater flexibility and a sense of security.

Remote work also gives employees a chance to reduce the stress of commuting, which can be challenging in large cities. Research shows that long commutes can lead to various health issues including depression, anxiety and even an increased risk of death due to heart disease or an accident.

Improved productivity

When people work in an office, they often have to deal with interruptions, including impromptu meetings, colleagues dropping by their desks and the noise of other nearby workers. But when you work remotely, you have more control over your environment and fewer distractions.

Reduced costs

Office spaces are notoriously expensive, particularly in major cities. You can save on rent and utilities by allowing your employees to work remotely.

Why are SMEs hesitant to adopt remote work?

If remote work is such a great idea, why aren’t more SMEs taking advantage of it? There are several potential issues to consider, including:

Communication

When employees are remote, communication is vital. If remote workers are in different time zones, this can create additional challenges. It’s essential to have a strategy for remote communication, including using digital communication tools like video conferencing, instant messaging, video calls and email.

Related: 5 of the best phone systems for your remote workers

Communication is also critical when setting up remote work within your organisation. Determine who will be allowed to work remotely and which roles should be performed in the office. When setting up remote work, you may also want to consider creating a remote-only role; this can help your organisation find and hire the best talent.

Culture

When you implement remote work, you’re shifting your organisation’s culture. Remote workers often have more autonomy and may feel less accountable to the organisation. It may lead to resentment among your office workers and managers, who may feel they have less opportunity to contribute and grow within the company. It’s essential to examine how the change will affect your culture and set up safeguards against this.

Organisational challenges with remote work

While remote work has many advantages, it also presents several challenges for organisations and managers.

Accountability

One of the most common organisational challenges is holding remote workers accountable. When employees work in the office, managers can see if they’re showing up, working or struggling with a task. Managers may have to put more effort into tracking and evaluating the work of remote workers, which could eat up time and distract from their core duties.

Managing the location of remote workers

Remote workers may work in different places, which can present challenges if your organisation uses tools such as online collaboration and project management software. Remote workers may also have issues accessing the technology they need to do their jobs.

The remote workers’ skills gap

Another challenge of implementing remote work is the skills gap among your remote workers. When you hire someone for an office-based role, you have the opportunity to observe them in person, and your hiring team can evaluate whether that person has the skills and experience for the job. In contrast, when you hire remote workers, you may rely more on screening techniques, like screening for expertise based on the job title or work history.

While remote work can be an excellent opportunity for some people, others may be better served by office-based roles where they can fully utilise their skills. When you’re hiring remote workers, you may encounter a skills gap. The remote workers may be underutilising their skills, or they may not have the skills your organisation needs.

Ongoing organisational challenges with remote workers

Remote work can be an excellent fit for many people, but it also has some potential drawbacks and challenges when implemented on a large scale. Here is what you should be aware of when implementing remote work in your organisation:

Managing expectations

When you work remotely, you’re often more accountable to yourself than your office manager. It can be a good thing, but it can also lead to neglecting other aspects of your job or putting in fewer hours than you should. Remote workers must set boundaries within their schedules to ensure they meet their obligations.

Resentment from office workers

If you implement remote work and don’t have safeguards, resentment from office workers can build. Remote workers may receive additional benefits, like more autonomy or the ability to work from home.

Final thoughts: Is remote work worth the risk?

Remote work offers many benefits for your organisation but also comes with challenges. Before you implement a remote work policy, ensure you understand the risks and benefits. Be honest about how implementing remote work will affect your organisation’s culture and business processes.

Implementing remote work is not something you should do just because everyone else is doing it. Instead, it’s something you should do when it makes sense for your organisation.

Stefano Maifreni is the founder and CEO of Eggcelerate.

Read more

5 tips for efficiently managing your remote SME employees

World’s Best Remote-Working Locations

According to research by NordLayer, a business cybersecurity provider, Denmark is the best country in the world for remote workers. Its Global Remote Work Index 2023 was based on data from 108 countries concerning their levels of: cyber safety, economic safety, digital & physical infrastructure, and social safety.

Top Ten Countries for Remote Working

European countries dominated the GRWI ranking, taking the first thirteen places, with Canada the first non-European nation coming in at 14th place. The United States (in 16th) and South Korea (17th) were the only other two non-European countries in the top 20. The UK placed 19th.

The post Should your small business adopt remote working? appeared first on Small Business UK.

Getting a digital nomad visa and working from a different country is becoming increasingly popular. Research cited by TwoTicketsAnywhere.com shows that there are 35m digital nomads worldwide, with UK nomads making up 8 per cent of the total.

If you’re thinking of taking the digital nomad visa route, we’ve got you covered for destinations around the globe.

>See also: Top tips for working abroad

Which countries have a digital nomad visa?

Tens of countries around the world offer variations of these visas, but often by a different name. We’ve rounded up the countries which currently offer a digital nomad visa and which ones are being implemented.

Each country’s listing contains a link with more information and a link to the application process, unless you need to go to your nearest consulate or embassy. Navigate with the quick links in the tables below.

Europe

Caribbean

The Americas

Africa

Asia

Yet to be implemented

>See also: 7 actions to improve your company’s cyber security while working remotely

Albania

https://e-visa.al/

Name of visa: Visa Type “D” – Long stay visa

Length of stay: One year

Can I extend my stay? Yes – by two years initially, then by five more years after that, after which workers can apply for permanent residency

Requirements:

• Valid employment contract with a foreign company
• Service contract with a foreign contractor
• Proof of sufficient income to support their stay and their dependents
• Health insurance
• Clean criminal record
• Albanian bank account where they will receive their funds from income sourced abroad
• Contract of accommodation in Albania

Minimum salary: Not stated

How to apply: Online at https://e-visa.al/apply

Croatia

https://mup.gov.hr/aliens-281621/stay-and-work/temporary-stay-of-digital-nomads/286833

Name of visa: Digital Nomad Visa – despite the name, this doesn’t serve as a Visa, but a residence permit

Length of stay: One year

Can I extend my stay? No – to stay longer than a year, digital nomads must leave Croatia for at least six months before applying again.

Visa fee: €46.45 fee for applying online (£40); €55.74 (£48) when applying at a consulate. Other fees apply. 

Requirements:

• Proof of purpose, i.e. a work contract that states you can work remotely
• Copy of a valid passport/travel document
• Government-issued background check from your home country (apostilled/legalised, officially translated)
• Certificate of length of stay (if you have lived somewhere other than your country of nationality for the previous 12 months)
• Health insurance
• Croatian temporary address
• Passport photo 30×35 mm

Minimum salary: €2,549.31 per month (£2,212)

How to apply: Online at https://digitalnomadscroatia.mup.hr/Pages/Zahtjev2 , at any Croatian embassy or consulate; or if a Visa isn’t needed, the closest police station. Once checked, applicants will receive a letter in the post or a phone call.

Cyprus

http://www.moi.gov.cy/moi/CRMD/crmd.nsf/All/BF9908B541BFF7D3C22587EA003CD306?OpenDocument

Name of visa: Digital Nomad Visa Scheme

Length of stay: One year

Can I extend my stay? Yes – subject to re-submission of required documents to the Civil Registry and Migration Department in Nicosia, at least one month before the residence permit expires

Visa fee:

Issuance or renewal of a temporary residence permit: €70 (£61)

Registration to the Aliens’ Registry (only in cases of initial registration): €70 (£61)

Requirements:

• Passport – valid for at least three months after arrival in Cyprus
• Two passport-sized photos, following the Schengen visa photo requirements.
• Completed, signed and notarised application form
• Proof of remote work (work contract or other business document)
• Proof of income (bank statements or payslips)
• An up-to-date CV
• Letter of intent
• Proof of €30,000 in health and accident insurance available during your entire stay
• Address of accommodation
• Clean criminal record

Minimum salary: €3,500 per month (£3,082) after tax

How to apply: Set up an appointment at their nearest Cypriot embassy or consulate.

Czech Republic

https://www.mzv.cz/jnp/en/information_for_aliens/long_stay_visa/long_stay_visa.html

Name of visa: Long Term Visa

Length of stay: One year

Can I extend my stay? Yes, for a maximum of one year

Requirements:

• Passport – valid for a minimum of six months after your return date
• Application form, which can be downloaded from the Czech Ministry of Foreign Affairs, here: https://www.mzv.cz/public/45/84/57/525242_423344_zov_EN.pdf
• Two identity photos, taken within the last six months
• Proof of enough financial means – at least €5,061 (£4,458) in your bank account
• Zino trade licence
• Proof of accommodation for your entire length of stay in the Czech Republic
• Clean criminal record
• Health insurance that covers at least €60,000 (£52,852) of your medical expenses in the Czech Republic

Minimum salary: 1.5x subsistence minimum – €2,507 (£2,179) at the time of writing

How to apply: Via an appointment at the nearest Czech embassy

Estonia

Digital Nomad Visa vs E-Residency | Eligibility & How to Apply (e-resident.gov.ee)

Name of visa: Two types: Type C Digital Nomad Visa and Type D Digital Nomad Visa

Length of stay: Type C: 90 days; Type D: One year

Can I extend my stay? No – new applications must be made while in Estonia

Visa fee: €80 (£69.50) for a C Visa; €100 (£87) for D Visa

Requirements:

• Passport, valid for at least three months after the return date – must have two blank pages.
• Application form – can be filled in online here: Viisa eeltaotlemise vormi avaleht (vm.ee)
• Two passport-sized photos, in line with the Schengen visa photo criteria.
• Work contract
• Letter from your employer, stating that you can work remotely
• Proof of sufficient financial means. (bank statements issued in the last six months)
• Proof of accommodation in Estonia – can be a rental agreement or temporary accommodation such as a hotel
• Proof of health insurance valid for the entire length of your stay, covering €30,000 (£26,425)

Minimum salary: €4,500 (£3,913) gross of tax in the six months preceding the application

How to apply: At an Estonian embassy; at a Police and Border Guard office in Estonia; or at a VFS office

Germany

https://www.germany-visa.org/freelance-visa/#2

Name of visa: Two types of Freelancer Visa: Visa for freelance employment (Freiberufler) and Visa for self-employment (Selbständiger)

Length of stay: Three months

Can I extend my stay? Yes

Visa fee: €75 (£65)

Requirements:

• Completed national entry visa application form
• Valid passport
• Two recently taken biometric photographs.
• Public or private health or travel insurance
• Recommendation letters from the previous employer
• An up-to-date CV
• Portfolio of previous work
• Professional authorisation, if planning to practice a profession that requires prior experience in the field, e.g. medicine or law
• Certificates of former education
• Enough financial means, demonstrated through bank statements
• Profit/loss statement from intended freelance activity
• Evidence of a freelance plan.
• At least two letters of commitment from future customers/employers, showing their intent to employ you when you enter Germany

Minimum salary: €9,000 per year (£7,926)

How to apply: Via appointment with your nearest German embassy

Greece

https://uk-gr.gvcworld.eu/en

Name of visa: Greece digital nomad visa

Length of stay: One year

Can I extend my stay? Yes

Visa fee: Visa fee €75 (£65); administrative fee €150 (£130)

Requirements:

• Passport, valid for at least six months after your return date, with two blank pages.
• Application form
• Two passport-sized photos
• A cover letter of declaration, stating the reason for your stay in Greece
• Proof of employment, stating work as a digital nomad
• A clean criminal record
• Proof of accommodation in Greece
• Proof of health insurance
• A return flight ticket
• A medical certificate

Minimum salary: €3,500 per month (£3,081)

How to apply: Via appointment with your nearest Greek embassy or consulate

Hungary

http://www.bmbah.hu/index.php?option=com_k2&view=item&layout=item&id=1714&Itemid=2100&lang=en

Name of visa: White Card residence permit

Length of stay: One year

Can I extend my stay? Yes

Visa fee: €110 (£95.50)

Requirements:

• Passport, valid for at least six months after the visa expires
• Completed visa application form
• Two passport-sized photos following Schengen guidelines
• Proof that you will work remotely for a company registered outside Hungary
• Proof of health insurance for your entire stay in Hungary, covering medical costs
• Proof of accommodation

Minimum salary: €2,000 per month (£1,760)

How to apply: Via an appointment at your nearest Hungarian embassy or consulate

Iceland

https://island.is/en/get-long-term-visa-for-remote-workers

Name of visa: Long-term visa for remote work

Length of stay: Three-six months

Can I extend my stay? No – you can re-apply after 12 months

Visa fee: 12,200 ISK (£73)

Requirements:

• Passport, valid for three more months after your visa expires
• Iceland digital nomad visa application form
• One passport-sized photo – cannot be older than six months and must follow the Schengen visa photo requirements
• Health insurance for the entire length of your stay in Iceland.
• A letter from your employer proving that you will be working remotely for a foreign employer or performing self-employed work
• Clean criminal record

Minimum salary: 1,000,000 ISK (£5,980)

How to apply: Via postage to the Directorate of Immigration in Kópavogur, or in person

Latvia

https://www.pmlp.gov.lv/en/article/obtaining-long-stay-visa-remote-work

Name of visa: Long-stay visa

Length of stay: One year

Can I extend my stay? Yes

Requirements:

• A valid travel document (when submitting documents to the Administration by mail, a copy of the passport must be submitted);
• Completed and signed visa form (fill out the e-form);
• Photograph (not older than months);
• A copy of the document certifying that the foreigner has a health insurance policy (valid in the Republic of Latvia and Schengen member states, the minimum liability limit of the insurer specified in the policy must not be less than €42,600 (£37,033) during the insurance period);
• Documents confirming the expected place of residence in Latvia;
• A document issued by the tax administration of a member state of the Organization for Economic Cooperation and Development, which certifies the income obtained in the last six months from the activities of a self-employed person in the amount of not less than the average monthly gross wages of the employees in the previous year, applying a factor of 2.5 (in accordance with the Central the last published information of the statistical office – €3433)
• A document confirming the payment of the state fee

Minimum salary: 2.5 times’ the national Latvian salary €3,433 per month at the time of writing (£2,984)

How to apply: Online here or at your nearest consulate

Malta

https://nomad.residencymalta.gov.mt/

Name of visa: Malta Digital Nomad Visa

Length of stay: One year

Can I extend my stay? Yes

Visa fee: €300 visa fee (£261); €27.50 (£24) for a residency card

Requirements:

• Passport, valid for at least three months after your planned departure, with two blank pages.
• Two passport-sized photos following Schengen guidelines.
• Application form, which can be found on the Residency Malta Agency website.
• Cover letter stating why you want to stay in Malta; and the length of your stay
• Proof of employment
• An up-to-date CV
• Proof of accommodation (hotel booking; host invitation – if planning to stay with friends or relatives; confirmation by an organised tour operator; rental agreement
• Proof of sufficient financial means. (bank statement from the last six months)
• Medical documents

Minimum salary: €2,700 per month (£2,377)

How to apply: Via email to the Residency Malta Agency – nomad.residencymalta@gov.mt

Norway

https://www.udi.no/en/

Name of visa: Independent contractor visa / Skilled workers visa

Length of stay: Two years

Can I extend my stay? Yes – up to six years

Visa fee: €600 (£521.50)

Requirements:

• Valid passport
• Proof of self-employment
• Bank statements proving income
• Contract with at least one Norwegian client
• Address of accommodation
• UDI checklist
• If it’s your own business, it must be your own sole proprietorship – no limited companies

Minimum salary: €35,719 (£31,454)

How to apply: Via appointment with your nearest Norwegian embassy or consulate; or at a police station if in Norway

Portugal

https://portuguese-chamber.org.uk/news/new-one-year-digital-nomad-visa/#:~:text=Officially%20called%20the%20%E2%80%9Cresidence%20visa,in%20the%20EU%20or%20EEA

Name of visa: Portugal Temporary-Stay Digital Nomad Visa

Length of stay: One year (temporary visa)

Can I extend my stay? Yes – up to five years (with residency visa)

Visa fee: Approximately €180 (£156.50) visa fee; approximately €320 (£278) residence fee

Requirements:

• Must come from a country not in the EU or EEA
• Must be self-employed or employed by a company based outside Portugal
• Temporary stay visa application form
• Cover letter explaining the purpose of your application
• Valid passport (with at least six months of validity)
• Two passport-sized photos
• Proof of regular income meeting minimum requirements
• Proof of accommodation in Portugal for at least a year
• Certificate of criminal record (certified by Apostille)
• Proof of valid health insurance (for the first four months of your stay)
• Proof of visa fee payment

Minimum salary: Must earn at least four times the Portuguese minimum wage per month – roughly €3,040 (£2,643)

How to apply: Submit an application at the Portuguese consulate 

Romania

https://evisa.mae.ro/Home?lang=en-US

Name of visa: Long-stay visa (symbol D)

Length of stay: One year

Can I extend my stay? Yes – can renew for another year

Visa fee: EUR 120 (£107)

Requirements:

• The applicant derives income from a foreign company and is able to work using information or communication technology
• The applicant can also be the owner of a company incorporated outside of Romania and can work remotely
  • Medical insurance with a coverage of at least EUR 30,000 (£26,500) for the entire duration of the stay
• Proof of accommodation in Romania, usually in the form of a rental agreement

Minimum salary: At least three times the average gross monthly income in the country (EUR 3,700, £3,217) for the last six months prior to submitting the visa application and for the entire duration of the stay;

How to apply: Create an account on the Romanian eVisa platform and apply from there. Alternatively, you can go through the foreign ministry website or through the local Romanian Embassy.

Serbia

http://www.mup.gov.rs/wps/portal/en/information/temporary+residence/temporary+residence

Name of visa: Temporary Residence

Length of stay: Up to one year

Can I extend my stay? No

Visa fee: $110 (£90)

Requirements:

• A valid personal or official passport

• Proof of means of subsistence during the planned temporary residence

• Registration of either short-term or residential address in the Republic of Serbia

• Proof of health insurance during the planned residence

• Proof of prescribed administrative fee payment

• Two photos (35x45mm, color, full face)

• Filled out application form

You’ll also need to register your business and get a self-employment work permit through the Serbian National Employment Service.

Minimum salary: At least $3,500 (£2,830) a month

How to apply: Apply online at http://www.mup.gov.rs/wps/portal/en/information/temporary+residence/temporary+residence

Spain

https://www.exteriores.gob.es/Embajadas/londres/en/Paginas/index.aspx

Name of visa: Remote work visa  

Length of stay: One year

Can I extend my stay? Yes –can be extended to five years.

Visa fee: €73.26 (£63.50)

Requirements:

• You must prove that you’re an international worker who wants to settle in Spain and that the work you do can be done remotely. If employed, you will need to provide a copy of your employment contract and a letter of authorisation from the employer.
• If you’re earning additional income in Spain, it can’t make up more than 20 per cent of your overall income
• Must have employment record of at least three years and/or have graduated from university
• Must have a health insurance policy for at least one year. If it’s a private policy, it must be with a company authorised to offer insurance in Spain

Minimum salary: Income must be at least 200 per cent of Spain’s minimum income (£25,700 at time of writing)

How to apply: Visit your nearest Spanish consulate or you can start your application in Spain as a tourist. You can fast-track your application to be processed in 20 days rather than three months.

Anguilla

https://ivisitanguilla.com/entry-requirements/

Name of visa: Digital Nomad

Visa fee:

Up to three months

• Individual traveller – $400 (£327.50)
• Couple – $600 (£491)
• Family – $400 (£327.50) for the main application and $250 (£204.50) for each additional person

3 – 12 months

• Individual traveller – US$2,000 (£1,637.50)
• Family – $3,000 (£2,456) for up to four persons and US$250 (£204.50) for each additional person

Length of stay: Up to 12 months

Can I extend my stay? No

Requirements:

• Valid passport
• Remote job/university enrolment
• Entry visa (in some cases)
• Health insurance
• Clean criminal record

How to apply: Online at https://evisa.gov.ai/

Antigua and Barbuda

https://nomad.gov.ag/ui/index.php

Name of visa: Nomad digital residence visa

Visa fee: Single – USD$1500.00 (£1,217)

Couple (Applicant + 1 dependent) – USD$2000.00 (£1,600)

Family (Applicant + up to 3 dependents) – USD$3000.00 (£2,400)

Please Note: A family of more than three dependents will incur an additional fee of $650 (£528) per additional dependent.

Length of stay: Two years

Can I extend my stay? No – the visa can only be issued once.

Requirements:

• Must be 18 years or older
• Must be employed outside of Antigua and Barbuda and can work remotely
• Must have a clean criminal record

Minimum salary: $50,000 (£40,500)

How to apply: Online at https://nomad.gov.ag/ui/applicationPreForm.php. Once submitted, it’ll take five to seven business days for your application to be processed.

Barbados

https://www.visitbarbados.org/barbados-welcome-stamp

Name of visa: Welcome Stamp

Visa fee: Individual – $2,000 (£1,600)
Family Bundle – $3,000 (£2,400)

Length of stay: Up to 12 months

Can I extend my stay? Yes

Requirements:

• Passport sized photograph Principal Applicant and all other members of the Family Group over the age of 18 (if applicable).
• Bio data page of passport – Principal Applicant and all other members the Family Group (if applicable).
• Proof of relationship of Principal Applicant to all other members of the Family Group.

Minimum salary: At least USD$50,000 (£40,500) over the 12 months you intend to have the travel stamp.

How to apply: Online at https://www.visitbarbados.org/barbados-welcome-stamp

Bermuda

https://forms.gov.bm/work-from-bermuda/apply

Name of visa: Work from Bermuda certificate

Visa fee: $263 (£213)

Length of stay: 12 months

Can I extend my stay? Renewable on a case-by-case basis.

Requirements:

You must:

• Be at least 18 years old and pay the application fee
• Not have been convicted of a crime in Bermuda or elsewhere
• Possess valid health insurance coverage
• Demonstrate employment with a legitimate company or your own company registered and operating outside of Bermuda, in the case of a remote worker
• Provide evidence of enrolment in a Research, Undergraduate, Graduate or Doctorate Programme, in the case of a student

For self-employed need the same kind of paperwork, plus a certificate of incorporation, if applicable.

Minimum salary: None stated – ‘must have substantial means and/or have a continuous source of annual income’

How to apply: Online at https://forms.gov.bm/work-from-bermuda/apply

Curaçao

https://athomeincuracao.com/remote-workers/

Name of visa: @Home in Curaçao

Visa fee: $294 (£238)

Length of stay: Six months

Can I extend my stay? Yes, by another six months.

Requirements:

You must prove that you can work independent of location in telecommunications technologies. You must also fit one of the three categories:

• You work for an employer registered in a foreign country and you have a contract with that employer;
• You conduct business activity for a company that is registered in a foreign country and of which you are a partner/shareholder;
• You offer freelance or consulting services to clients, whose permanent establishments are in a foreign country, and with whom you have contracts.

It can be public or private sector.

Minimum salary: None stated

How to apply: Online at https://athomeincuracao.com/remote-workers/application-remote-workers/

Once received the application will take around two weeks to process.

Dominica

https://windominica.gov.dm/

Name of visa: Work in Nature Extended Visa Stay programme

Visa fee: US$100 (£81) application fee (non-refundable)

• Single Applicant: US$800 (£650)
• Family Application: US$1,200 (£975)
• One Business, Multiple Applicants: US$800 plus US$500 for each additional employee for a business applying for four or more employees

Length of stay: Up to 18 months

Can I extend my stay? Not stated

Requirements:

• You are at least 18 years old
• You are of good character, without a criminal record
• You are able and willing to make the required financial contribution
• You can work remotely
• You can expect to earn an income of US$50,000 (£40,500) or more over the next 12 months and/or have the means to support yourself, your spouse/partner, and their other family members accompanying you during your extended stay in Dominica

If you’re self-employed, proof of income must be in the form of one or more the following documents:

• Bank letter and recent bank statement
• Certificate of good standing

Minimum salary: You’re expected to earn an income of US$50,000 (£40,729) or more over the next 12 months and/or have the means to support yourself, your spouse/partner and their other family members accompanying you during your extended stay in Dominica

How to apply: Online at https://apply.windominica.gov.dm/Account/Login?ReturnUrl=%2F

Grenada

https://grenadaembassyusa.org/wp-content/uploads/2018/03/Grenada-Visa-Requirements-for-Applicants-of-Visas-Prior-to-Arrival-in-Grenada-as-of-Mar-2018.pdf

Name of visa: Remote Employment Act

Visa fee: The application fee for an individual is $1,500 (£1,200), and the application fee for an individual and up to three dependents is $2,000 (£1,620). It costs $1,400 (£1,135) to renew the visa and an extra $200 (£162) per dependent.

Length of stay: Up to one year

Can I extend my stay? Yes

Requirements:

• Provide evidence of a passport that is valid for the period for which the remote-work permit is intended to apply
• Provide proof of the grant or application for, a visa, if a visa is required
• Provide proof of a health insurance policy valid for the period for which the remote-work permit is intended to apply
• Provide a police certificate

Minimum salary: Provide proof of an actual annual income of not less than EC$100,000.00 (£30,000) generated outside of Grenada, and proof that the actual income is intended to continue for the period for which the remote-work permit is intended to apply

How to apply: Print out and fill this application form: http://gov.gd/index.php/documents/application-visa/viewdocument/88. Post it to:

1701 NEW HAMPSHIRE AVE., N.W.
FAX. (202) 265–2468 WASHINGTON, D.C. 20009

It will take ten days to process from date of receipt.

Montserrat

https://montserratremoteworker.com/

Name of visa: Montserrat Remote Work Stamp

Length of stay: One year

Visa fee: Application fees are required before application processing. These fees are non-refundable.

• Single Applicant
• USD$500 (£400)
• Families (up to 3 dependents): USD$750 (£600)
  Additional family member: USD$250 (£250) each

Can I extend my stay? No, but you can reapply using the standard process

Requirements:

• Works for an employer that is registered in a foreign country and they have a contract of work with that employer; or
• Conducts business activity for a company that is registered in a foreign country and of which they are a partner/shareholder; or
• Offers freelance or consulting services mostly to clients, whose permanent establishments are in a foreign country, and with whom they have contracts; and
• Has health insurance with valid Montserrat and Covid-19 coverage.

Minimum salary: $70,000 (£56,858)

How to apply: Online at https://montserratremoteworker.com/

It takes seven days to process once the application is received.

The Bahamas

https://www.bahamasbeats.com/

Visa name: BEATS

Fees: A $1,000 (£812) permit fee if your application is successful and a $25 (£20) application fee. A further $500 (£406) and application fee is required for each dependent.

Length of stay: Up to a year

Can I extend my stay? Renewals will be considered for up to another three years

Salary required: A proof of employment is required, but no minimum salary is specified

Background checks: None officially stated but likely to include criminal record checks

Requirements:

• Valid passport
• Medical insurance card (the same for any dependents)
• Proof of employment, which can be a job letter

How to apply: Apply via https://portal.immigration.gov.bs/. Approval can take up to five days.

Mexico

https://embamex.sre.gob.mx/reinounido/index.php/en/embassy/about

Name of Visa: Temporary Resident Visa

Fees: $40 (£32) visa appointment fee and between $150 (£122) and $350 (£284) for a temporary residence permit.

Length of stay: Between six months and four years

Can I extend my stay? Yes, but you must renew at least 30 days before your Temporary Visa Card expires via the Instituto Nacional de Migración.

Requirements:

• Must be an owner of a Mexican property worth at least $346,000 (£280,980)
• A valid passport
• Proof of income
• Proof of medical insurance
• Proof of relationship (if applicable)
• Criminal background checks

Minimum salary: $2600 (£2,111) per month for the last six months, plus $861 (£699) extra for every dependent, and a bank balance of $43,000 (£34,919) for the last twelve months.

How to apply: Via the consulate or embassy in your country

Belize

https://www.travelbelize.org/work-where-you-vacation/

Name of visa: Work Where You Vacation Program

Fees: $250 (£203) visa fee.

Length of stay: Up to six months

Can I extend my stay? Yes

Requirements:

• Must show proof of employment
• Valid passport
• Travel insurance policy covering at least $50,000 (£40,601)
• A bank reference
• Clear criminal record

Minimum salary: $75,000 (£60,902). This increases to $100,000 (£81,199) for couples or families.

How to apply: The Belize immigration details what you need for the application: https://immigration.gov.bz/residence/temporary-residence/ . You can then email your application to visas@immigration.gov.bz or secretary@immigration.gov.bz.

Costa Rica

https://www.visitcostarica.com/en/costa-rica/digital-nomads

Visa name: Digital nomads

Fees: $100 (£81) application fee and a $200 (£164) request for legal stay fee.

Length of stay: Up to a year

Can I extend my stay? Yes, for up to a further year

Salary required: $3,000 (£2,444) per month or $5,000 (£4,073) per month if with family from a guaranteed source for two years.

Background checks: Criminal record check

Requirements:

– All documents much have an official translation in Spanish.

• Valid passport
• Bank statement
• Medical insurance covering up to $50,000 (£40,735) (all documents must have a Spanish translation)

How to apply: Through the Tramite iYa! platform: https://tramiteya.go.cr/dgme/

Panama

https://www.panamaembassy.co.uk/visa-info-immigration

Name of visa: Short Stay Visa for Remote Workers

Fees: £265 visa cost.

Length of stay: Up to nine months

Can I extend my stay? Yes, up to an additional nine months

Requirements:

• Likely to include criminal record checks

Minimum salary: £29,500 per year

How to apply: Make an appointment with the nearest Panama consulate

Argentina

https://www.argentina.gob.ar/noticias/de-pedro-y-lammens-lanzaron-un-plan-de-beneficios-para-nomades-digitales-y-una-nueva-visa-0

Fees: Migration Fee UC 120.- Consular Fee UC 80.- Consular Units (UC) are paid in USD or Euros, as appropriate.

Length of stay: Up to six months

Can I extend my stay? Yes, up to an additional six months

Requirements:

• CV
• Employer reference
• Passport
• Valid medical insurance
• Clean criminal record
• Application note signed by the interested party, indicating: personal data, independent work activity/s to be carried out
• Documentation proving the activity (contract, company guarantee or proof of application for labour demand, certifications or receipts of income or fees) and record at least one reference linked to your occupation

Minimum salary: None stated

How to apply: Online at https://www.argentina.gob.ar/servicio/tramitacion-de-ingreso-electronica-nomadas-digitales

Brazil

https://www.gov.br/mre/pt-br/consulado-londres/visa-section/types-of-visa/temporary-visa-vitem/digital-nomads-vitem-xiv-2013-rn-45-2021

Name of visa: VITEM XIV

Fees: £418.50

Length of stay: Up to one year

Can I extend my stay? Yes, up to an additional year

Requirements:

• Valid passport
• Passport photo
• Birth certificate
• Valid health insurance for the entirety of stay
• Documentation from employer
• Criminal record checks

Minimum salary: Payslip showing monthly amount of at least $1,500 (£1,222) or bank statements for the last three months or a bank balance of at least $18,000 (£14,665).

How to apply: Online at https://formulario-mre.serpro.gov.br/sci/pages/web/ui/#/instrucoes-iniciais-visto

Colombia

https://tramitesmre.cancilleria.gov.co/tramites/enlinea/solicitarVisa.xhtml

Name of visa: Visa V Nomadas Digitales

Fees: €101 (£88)

Length of stay: Up to two years

Can I extend my stay? Not stated

Requirements:

• Valid passport
• Health insurance
• Letter from employer to prove status of employment

Minimum salary: $684 (£557) per month

How to apply: Online via https://tramitesmre.cancilleria.gov.co/tramites/enlinea/solicitarVisa.xhtml

Ecuador

https://www.gob.ec/mremh/tramites/concesion-visa-residencia-temporal-rentista

Name of visa: Rentier temporary residence visa

Fees: $320 (£254)

Length of stay: Up to two years

Can I extend my stay? Not stated

Requirements:

• Passport valid for at least six months
• Passport valid for at least six months
• Valid health insurance
• Clean police record

Minimum salary: Three times the country’s basic income which would mean currently you’d need a monthly income of at least £1,174.

How to apply: Online at https://www.gob.ec/mremh/tramites/concesion-visa-residencia-temporal-rentista

Uruguay

https://www.liveinuruguay.uy/digitalnomadpermit

The visa application is in Spanish, but you can use the translator on your web browser to change it to English. Complete the form after entering Uruguay as a regular tourist.

Name of visa: Provisional Identity Sheet

Fees: 400 UYU (£9) – can’t be paid from a non-Uruguayan bank account

Length of stay: Six months

Can I extend my stay? Yes – for a further six months. Can also apply for a permanent residency

Requirements

• Clean criminal record
• Vaccination certificate issued in Uruguay
• A user account
• Affidavit to prove you can support yourself financially

Minimum salary: None

How to apply: Online at https://www.gub.uy/tramites/hoja-identidad-provisoria. You will receive your permit within ten days of paying your application fee

Cape Verde

https://www.remoteworkingcaboverde.com/en

Name of visa: Remote Working Program

Visa fee: To obtain a Cape Verde digital nomad visa, you have to pay two fees:

• Visa fee – €20 (£16.41). It is paid after arrival
• Airport fee – €34 (£28). It is paid upon arrival

The fees are non-refundable and paid after approval. However, compared to other countries which offer digital nomad visa, the fees are quite cheap.

Length of visa: Six months

Can I extend my stay? Yes

Requirements: Cape Verde implemented its digital nomad visa in December 2020. As with other digital nomad visas, you get temporary residency but not tax residency. You pay tax in your usual country. This means that digital nomads in Cape Verde are exempt from income tax and any other local taxes. In addition, there are not any import taxes on arrival in Cabo Verde. 

Under the Remote Working Program, applicants must electronically submit these documents to apply for a temporary six-month visa:

• Passport bio page
• Passport size photo sized 2 x 2 inches (51 x 51 mm). The head must be between 1-1 3/8 inches (25mm-35 mm) from the bottom of the chin to the top of the head.
• Means of subsistence. You need to upload your bank account statement for the last six months or a copy of your last three-monthly salary receipts
• Health and travel insurance for digital nomads
• Proof of relationship. If you are married, you need a marriage certificate. If you have children, you need birth certificates or adoption orders
• Criminal background check. You can get your police record at the local police department
• Pre-booked accommodation. You will need either a hotel booking, a lease, or a rental agreement to confirm your accommodation

To be stamped, approved applicants must present the following documents to the border authorities:

• Passport valid for six months
• Copy of approval letter issued by Instituto de Turismo de Cabo Verde
• Copy of visa approval declaration issued by Direcção de Fronteiras e Estrangeiros
• Airport fee
• Visa fee

Minimum salary: No minimum salary as such but you need to show

• €1,500 (£1,320) minimum average bank balance on the last six months for an individual
• €2,700 (£2,377) minimum average bank balance on the last six months for a family

 How to apply: You must apply for a Cape Verde digital nomad visa online through the official Cabo Verde Nomad Visa website.

 The application process is as follows:

1. Prepare application documents. See above
2. Apply for the visa. You can apply online by following the link to the application form. Here you fill out the application form with the required documents and information
3. Receive application approval. The processing time for a digital nomad visa in Cape Verde is two weeks. After approval, you will receive an email stating the next steps you need to follow to obtain the visa
4. Prepare travel documents. Before traveling to Cabo Verde, you need to prepare the documents that you have to submit to the border authorities (see above)
5. Travel to Cape Verde
6. Pay the fees on arrival
7. Get the visa stamp. You have about 30 days after your arrival to get the visa. To arrange the delivery of your visa, please send an email to the Remote Working Program. There should be a five-day turnaround time

In addition, depending on your nationality, you might need a visa to enter Cabo Verde. You can obtain a visa from the nearest diplomatic government office of the Republic of Cabo Verde.

Mauritius

Name of visa: Premium Travel Visa

Visa fee: Free to apply

Length of visa: Minimum six-month stay, up to one year

Can I extend my stay? Yes

Requirements:

• Valid passport
• You must work for a company, own a business or freelance with clients outside of Mauritius
• Travel and health insurance
• Originate from one of 114 countries listed here
• Passport-sized photos
• Proof of income
• Proof of remote work
• Two-way plane ticket to Mauritius
• Proof of address in Mauritius
• Marriage certificate/birth certificate if bringing dependents

All these documents must be in either English or French

Minimum salary: You must earn a minimum of $1,500 (£1,243) a month if applying as an individual, increasing by $500 (£414.49) per dependent/family member you bring under the age of 24. If you’re coming as a couple, your combined income must be over $3,000 (£2,486) a month

 How to apply:

You then submit your online application here. According to the government, your digital nomad visa should be approved within 24 hours. However, be prepared for a wait of up to two months.

Namibia

https://nipdb.com/nomadvisa/

Name of visa: Namibia Digital Nomad Visa

Visa fee: $124 (£102)

Length of visa: Six months

Can I extend my visa? No

Requirements:

• Complete visa application form signed by applicant
• Medical certificate
• Radiological Report
• Certified copy of passport
• Medical insurance and/or travel insurance
• Letter from NIPDB (letter to be submitted directly by NIPDB to MHAISS with application forms and supporting documents)
• Proof of income/funds such as payslips or employment contract
• Six months’ worth of bank statements
• Supporting letter from employer
• Application fee of N$200 required on approval
• Copies of qualifications
• Certified copy of police criminal record check

Minimum salary: A minimum $2,000 (£1,658) per month as an individual plus another $1,000 (£829) per month for an accompanying spouse plus $500 (£414.59) per accompanying child per month – so $4,000 (£3,316) per month for a family of four

How to apply:

1. Complete visa application form. The three forms you need to fill out are the visa application form, medical certificate and radiological report
2. Submit your application forms and accompanying documents to nomadvisa@nipdb.com
3. Once approved, a further $62 (£51.40) fee for processing the visa will be payable on entering the country

Seychelles

https://www.seychelles.com/special_interest/workcation

Name of visa: Visitors Workcation Permit

Visa fee: €45 (£39.62)

Length of visa: One year

Can I extend my visa? No

Requirements:

• Passport valid for at least six months
• Letter of employment or recent bank statements if you are self-employed
• Certificate of good standing
• Recent bank statements
• Proof of accommodation
• Onward or return air ticket
• Health insurance
• Negative COVID-19 PCR test

 Minimum salary: N/A

 How to apply?

1. Send your application online here
2. Apply for the Health Travel Authorization. Once your VWP application has been approved, you must apply for the Health Travel Authorization (HTA), which is required to enter the country
3. Pay the €45 (£39.62) application fee
4. Receive the approved HTA document, which will include your ID number and a colour code in amber

Abu Dhabi

https://www.adro.gov.ae/Remote-Work-Visa/Remote-Work-Visa

Name of visa: Remote Work Visa

Visa fee: $287 (£236)

Length of stay: One year

Can I extend my stay: Yes

Requirements:

• Proof of employment outside of the UAE
• A bank statement for the last six months proving a deposit or a monthly income of no less than $3,500 or its equivalent in other currencies

Minimum salary: $3,500 (£2,881)

How to apply: Create an account at https://icp.gov.ae/en/ and follow the instructions for the remote work visa UAE option

Armenia

https://www.mfa.am/en/residency/

Name of visa: Temporary Residency

Visa fee: 105,000 AMD (£225)

Length of stay: Up to one year

Can I extend my stay? Yes, for up to five years

Requirements:

• Application
• Three colour photos – 35 x 45 mm
• Passport, copy of the passport, the notarised Armenian translation of the passport
• Documents supporting the conditions of applying for the residence permit (extension of the permit) in Armenia
• Medical certificate
• Receipt of payment of the fee

Minimum salary: N/A

How to apply: It looks like you’ll need to apply as a tourist in Armenia at:

The Migration and Citizenship Service of the Ministry of Internal Affairs of the Republic of Armenia, 17/10 Building, 4th District, Davtashen, Yerevan 0054

You’ll also need to register as a sole entrepreneur in Armenia.

Dubai

https://www.visitdubai.com/en/invest-in-dubai/live-and-work/visas-and-entry/work-remotely-from-dubai

Name of visa: Work Remotely Program

Visa fee: $611 (£506.61)

Length of visa: One year

Can I extend my visa? Yes

Requirements:

• Passport valid for at least six months
• Visa application form
• Digital passport photo 45mm x 35mm with white background
• Proof of accommodation, either lease agreement or hotel booking
• Health insurance with UAE coverage
• If you are a business owner, proof of company ownership for at least one year. Monthly income of $3,500 (£2,902) plus bank statements for past three months
• If you are an employee, proof of employment with at least one-year contract, previous month payslip, bank statements, minimum salary of £3,500 per month

 Minimum salary: Minimum $3,500 (£2,902) monthly salary as an employee

 How to apply

1. Visit the General Directorate of Residency and Foreigners Affairs website to register
2. Fill out the application form, including personal details and contact information, email, etc.
3. Submit application and wait for email or phone call from Dubai representative
4. Once you have arrived in Dubai, you must undergo a medical check-up. You have a one-month window to do this. Results should be available within two weeks
5. After you receive the medical exam results, you must take them to a biometrics office
6. After the biometrics, your passport will be stamped
7. The Dubai government will send you a SMS confirming your residency card, also known as the Emirates ID

Malaysia

https://mdec.my/derantau

Name of visa: DE Rantau Nomad Pass

Visa fee: $221 (£183.25)

Length of visa: Three months to one year

Can I extend my visa? Yes – for another 12 months providing you still meet the criteria.

Requirements:

• Current CV
• Evidence that you work in a digital field such as IP, digital marketing, digital content creation, cyber security, digital currencies, and software development.
• Employment contract that has been in place for three months
• If you are a freelancer, evidence of a contract with a long-term client
• Proof of income either in payslips or bank statements for last three months and statement of yearly income
• Health and travel insurance
• Clean criminal record
• Copy of passport. Your passport must be valid for at least 14 months at the time of applying
• Passport photos
• Signed personal bond form. As a UK resident, you must put up a personal bond of RM1,500 (approx. £292)
• Additional proof of relationship for dependents such as marriage certificate

Minimum salary: $24,000 (£19,889)

How to apply

1. You can apply for a Malaysia digital nomad visa here. Make sure you choose the option for the DE Rantau Digital Nomad Visa. You will need to create an account using your email address, for which you will be sent a confirmation email.
2. Once your account has been set up, you should choose the application form for the DE Rantau Nomad Pass and complete the form and upload your documents.
3. When you complete your application, you will be asked to make a payment, which can be done using most credit cards or PayPal. The application costs $221 (£183.23) for the principal applicant and there is an additional fee of $110 (£91.20) per dependent.
4. Once you have submitted your application, you may need to wait for up to four weeks to receive an official response via email. This will provide you with proof of approval that you should print out and take with you when you travel. This will allow your visa to be issued to you upon arrival at an airport in Malaysia.
5. You can request a 75 per cent refund on your application fee if your Malaysia digital nomad visa is denied. The remaining 25 per cent is required to cover the cost of processing your initial application.

Taiwan

https://goldcard.nat.gov.tw/en/

Name of visa: Taiwan Employment Gold Card

Visa fee: £94-£145

Length of visa: One to three years

Can I extend my visa? Eligible for permanent residency after three years

Requirements:

Taiwan does not have a visa designed especially for digital nomads; what they do have is a Taiwan Employment Gold Card, which technically applies to digital nomads. However, it is more squarely aimed at entrepreneurs setting up businesses in Taiwan or those working for a Taiwanese company with a minimum salary of $64,000 (£53,069).

The Taiwan Employment Gold Card is a combined work permit, residence permit, and visa for skilled professionals and has been active since February 2018. With the Gold Card, you can stay in Taiwan for one to three years.

Gold card holders employed by Taiwanese companies for the first time can apply for a 50 per cent tax exemption on any salary over earned over NT$3m ($100,000) (£82,931).

Minimum salary: $64,000 (£53,069)

How to apply?

1. Check that you qualify for the Taiwan Employment Gold Card
2. Apply using the online portal here. Filling out the form and uploading documents takes about 15 minutes.
3. The Taiwanese government says that a perfect application takes 30 days to be approved – however, if additional supporting documents are required, expect a timeframe of 50-60 days.
4. After processing, you will receive an e-mail stating your passport has been inspected and the Gold Card application is ready to be collected at a National Immigration Agency Service Center in person.

Thailand

https://ltr.boi.go.th/

Name of visa: Long-Term Residents Visa Thailand

Visa fee: $1,494 (£1,238) plus a yearly $90 (£74.63) fee

Length of visa: 10 years

Can I extend my visa? Yes

Requirements:

Thailand does not have a digital nomad visa as such. What it does have is a Long-Term Residents Visa, which is aimed at full-time employees of Big Tech firms listed on a stock exchange or have generated more than $150m (£124,370,807) over the past three years.

And, unlike a true digital nomad visa, holders of the Long-Term Residents Visa pay income tax in Thailand – albeit at a 17 per cent tax rate as opposed to the standard 35 per cent.

• Passport valid for six months
• Annual $80,000 (£66,334) salary for the previous two years
• Health insurance with at least $50,000 (£41,458) coverage
• You must have worked for at least three years for a listed company or a company that generates at least $150m (£124,370,807) in annual revenue
• Copy of Passport (including Thai entry stamps if applicable)
• Passport-Size Photo (3×4 cm)
• Curriculum Vitae (CV)
• Proof of current income
• Personal income tax return for previous two years
• Proof of employment

 Minimum salary: $80,000 (£66,334)

 How to apply

1. Submit an online application here
2. You will know whether your application has been approved in principle within 23 days plus.
3. Upload additional documents and information
4. Once approved, you have 60 days to attend an appointment at a Thai embassy or consulate abroad or immigration offices in Thailand, such as the Department of Employment One-Stop Shop Center for Visa and Work Permits in Bangkok, to collect your visa

Which countries are planning to create a digital nomad visa?

Some countries have made announcements of plans to create a digital nomad visa, but haven’t implemented them yet.

Andorra

https://www.bopa.ad/bopa/035007/Pagines/GR20230112_11_11_49.aspx

The Andorran parliament is currently discussing a digital nomad visa for Andorra, following a draft bill being approved in December 2022.

Name of visa: tbc

Visa fee: tbc

Length of visa: tbc

Can I extend my visa? tbc

Requirements: tbc

Minimum salary: N/A

How to apply N/A

Goa

https://government.economictimes.indiatimes.com/news/governance/goa-explores-digital-nomad-visa-programme-to-further-economic-possibilities/96185419?

The government in Goa started the process of creating a digital nomad visa in December 2022.

Name of visa: tbc

Visa fee: tbc

Length of visa: tbc

Can I extend my visa? tbc

Requirements: tbc

Minimum salary: tbc

How to apply: tbc

Italy

Last March, the Italian digital nomad visa was approved and signed into law but has yet to be implemented.

What is known is that the Italy digital nomad visa will only be open to non-EU citizens, including the UK.

Name of visa: tbc

Visa fee: tbc

Length of visa: one year tbc

Can I extend my visa? tbc

Requirements: tbc

Minimum salary: tbc

How to apply? Tbc

Japan

Reports say that Japan is considering a digital nomad visa.

Name of visa: tbc

Visa fee: tbc

Length of visa: tbc

Can I extend my visa? tbc

Requirements: tbc

Minimum salary: tbc

How to apply? Tbc

Montenegro

The Montenegro digital nomad visa will begin accepting applications in 2025.

Name of visa: n/a

Visa fee: €25 (£22) tbc

Length of visa: two years

Can I extend my visa? Yes

Requirements: tbc

 Minimum salary: tbc

How to apply? N/A

North Macedonia

North Macedonia announced plans to launch a digital nomad visa back in February 2021 but there does not seem to have been any movement since then.

Name of visa: tbc

Visa fee: tbc

Length of visa: one year

Can I extend my visa? Yes

Requirements: tbc

Minimum salary: n/a

How to apply N/A

Philippines

The Philippines is said to be introducing a digital nomad visa, potentially in early 2024.

Name of visa: tbc

Visa fee: tbc

Length of visa: one year

Can I extend my visa? Yes, for a further year

Requirements: tbc, but likely to include full health insurance, a minimum salary and a clean criminal record

Minimum salary: tbc

How to apply: tbc

South Africa

South Africa announced it would introduce a digital nomad visa in the but reports this has been delayed as the Immigration Act hasn’t been altered to account for remote workers yet.

Name of visa: tbc

Visa fee: tbc

Length of visa: one year

Can I extend my visa? tbc

Requirements:

• Valid passport
• Proof of work from overseas clients
• Health insurance coverage
• Address in South Africa

Minimum salary: $3,000 a month tbc

How to apply tbc

South Korea

https://www.koreaherald.com/view.php?ud=20230201000598

There was talk of a visa being introduced in the second half of 2023, but now word is that it will be introduced in 2024.

Name of visa: Workcation Visa

Visa fee: tbc

Length of visa: Up to two years

Can I extend my visa? tbc

Requirements:

tbc

Minimum salary: tbc

How to apply: tbc

Sri Lanka

Name of visa: Digital Nomad Visa

Visa fee: $500 (£412) for individuals, couples and families

Length of visa: One year

Can I extend my visa? Yes

Requirements:

• Valid passport
• International health insurance

Minimum salary: $2,000 (£1,646)

How to apply? tbc

Read more

Should your small business adopt remote working?

The post Which countries offer a digital nomad visa? appeared first on Small Business UK.

It can seem baffling, but getting up-to-date with your health and safety is much simpler when broken down into smaller steps.

Follow this checklist to help you through the process.

Assign your health and safety representative(s)
Write a health and safety policy
Do a risk assessment
Provide training where necessary
Choose your training methods
Provide the right workplace facilities post-training
Make arrangements for first aid, accidents and illness
Put your health and safety poster up
Take out the right type of insurance

Please note that, though health and safety law applies to all businesses, micro businesses with fewer than five employees don’t need to write down their risk assessment and health and safety policy.

Assign your health and safety representative(s)

First, choose a competent person to oversee the project.

The competent person should have necessary skills, experience and knowledge to manage health and safety. This could be yourself, one or more of your employees, someone from outside your business or a combination of the above.

Make sure that you divvy out responsibilities evenly so that one member of staff isn’t overburdened. If you run a high-risk workplace or you feel you and your staff can’t handle the tasks required, it’s worth your while hiring someone externally.

The staff that you choose are entitled to time off with pay for training to meet their responsibilities.

Write a health and safety policy

Now is the time to get down to writing your health and safety policy.

It doesn’t have to be a bumbling mess – the Health and Safety Executive (HSE) has policy statement template as well as an example health and safety document for you to refer to.

Not sure what to include? The name of the employer or senior manager who has overall responsibility for health and safety should go in there. The member of staff who oversees its implementation day-to-day should be listed too.

Don’t forget:

• General policy arrangements
• Who is responsible for specific actions
• Arrangements of what you are going to do to achieve the aims in your health and safety policy

It should also mention where the first aid box and accident box are located.

Remember to review your policy regularly, particularly if you go through any major changes or introduce new equipment.

Measures to put in place

A risk assessment will tell you if you’re putting sufficient measures in place to keep your staff from harm. The templates mentioned above include a risk assessment section for you to fill out.

Start by having a walk around the workplace and taking note of potential hazards. Think about how likely it could be for someone to be affected by the hazard and how serious the harm could be. Get second opinions from your team on where they see potential hazards.

It doesn’t have to be exhaustive; just point out the more likely mishaps. HSE has created an online risk assessment tool to help you out.

The obvious example is a building site – think falling parts, injuries caused by heavy lifting, dangers for staff in falling from greater heights – even something as everyday as tripping on uneven ground.

For those transporting cash or valuables, you’ve got a whole different set of risks. Primarily, they’re vulnerable to robbery.

When writing up your risk assessment, be aware of employees who have specialist requirements such as new staff, young workers, expectant mothers and people with disabilities. Make sure your home workers know the health and safety policy when they come in.

‘Be aware of new staff, young workers, expectant mothers and people with disabilities’

Review when you bring in new equipment, substances or procedures that could lead to hazards.

Provide training where necessary

Most of the people in your business will need training: you, managers and supervisors, employees, contractors and self-employed people who work for you.

This goes for training your competent nominated person(s) as well as the rest of your staff. Training must be provided free and during working hours.

Different laws outline different areas:

The Health and Safety at Work etc Act 1974 states that you need to provide appropriate information, instruction, training and supervision to ensure the health and safety of your employees.

‘Training must be provided free and during working hours’

The Management of Health and Safety at Work Regulations 1999 identifies where health and safety training is particularly important. This is when people start work, on exposure to new or increased risks and in areas where they may need refresher training.

The Safety Representatives and Safety Committees Regulations 1977 and The Health and Safety (Consultation with Employees) Regulations 1996 requires you to consult with employees or their representatives on issues relating to health and safety.

The Health and Safety (Training for Employment) Regulations 1990 ensures that learners doing work experience are covered by health and safety law.

This goes for preventative training too. Coming back to the building site example, employees should be trained in working from heights and on different pieces of equipment and surfaces, like scaffolding, ladders and roofs. Wherever possible, avoid working at height.

As for the job which involves transporting cash, practising the process helps. Keep the employee carrying the valuables safe by ensuring they have another person with them and that they’re using a discreet bag for the valuables. Avoiding a routine helps so that criminals don’t get savvy to when you move cash and what your route is. Limit the amount of cash or valuables carried on each trip and only transport them during daylight hours.

Choose your training methods

You’ve got a few different ways to choose from:

• Giving information/instruction
• On-the-job training
• Training in a meeting room
• Open and distance learning
• Group-based or individual
• Computer or interactive training

For basic office-based requirements, it’ll be enough to do your training in a meeting room. If the job involves specific training, like online sales, you’ll need to do computer or interactive training.

You can get help in shaping your training from National Occupational Standards, trade unions, further education colleges and private training organisations.

They’ll give you:

• Information and advice on skills and training
• The impact of training on business performance
• Training methods
• How to set up in-house training
• How to find a training provider

It’s important that the training is easy to understand and that your trainer has enough time and resource to adequately prepare.

Get feedback at the end of training to ensure that your staff have understood it and to get a better idea of how to improve training in the future.

Provide the right workplace facilities post-training

As standard, you’re required to supply items and conditions to ensure your staff’s welfare including toilets, hand basins with soap, drinking water, somewhere to rest, good ventilation, reasonable working temperature and well-maintained equipment.

For workplaces that require specialist clothing, there should be somewhere to get changed.

With some sectors you need to provide extra equipment or further training – it’s best to contact the industry authority to find out more.

Make arrangements for first aid, accidents and illness

As well as supplying first aid boxes, ask someone to take charge of first aid needs like keeping the box stocked up. They should also be responsible for first aid arrangements like calling the emergency services where necessary.

It’s important to have a trained first aid person on site, especially if the workplace carries more risks.

Put your health and safety poster up

One of the last things on your list is to put the health and safety poster up where it will be visible to all members of staff.

Take out the right type of insurance

By law, you must have employers’ liability insurance. Public liability insurance is also worth bearing in mind.

According to ihasco, a company can be fined up to £2,500 for any single day that they’re without adequate insurance.

The only potential exceptions to having employers’ liability insurance apply if you have no employees or are a family business and all of your employees are closely related to you. For more information you should refer to the Employers’ Liability (Compulsory Insurance) Act 1969.

If you need further information on providing workplace health and safety for your small business, you might also contact any trade unions, employers’ organisations and trade associations associated with your type of business.

Further reading

How to introduce a health and safety apprenticeship to the workplace

The post Health and safety checklist for small businesses appeared first on Small Business UK.

We all know that the moment you drive your brand-spanking new car off the car dealer forecourt, it loses value. According to the RMI, a new car drops in value anything between 15-30 per cent when you hit the road.

So, given that you’ve jumped through all the hoops of setting up your limited business, wouldn’t it make more sense to lease your motor car?

Leasing versus buying a company car is a vexed question for small business owners.

Most of us are pretty familiar with buying a new car outright, but leasing is still unfamiliar territory to some, despite its growth in Britain.

What is leasing?

Many businesses choose to lease equipment, vehicles and tools for their business, as it can be a more cost-effective alternative to buying outright, especially when you are starting up.

With leasing, you make fixed monthly payments. At the end of the lease period, you won’t own the vehicle but may have the opportunity to extend the lease agreement or start a new one.

Or you can swap your car after an average of three years for a brand-new one.

Leasing is popular among businesses of all sizes who rely on vehicles, whether that’s a single van or an entire fleet. For example, a start-up delivery company needing several vans may not have the capital to purchase the vehicles outright.

According to industry association the BVRLA, leasing accounts for one in ten cars, trucks and vans on Britain’s roads. Between January and August 2023, over 213,000 new commercial vehicles were registered, a 19.4% year-on-year increase compared to the same period in 2022 (MarkLines, 2023).

Leasing a vehicle might be better if you have limited cash or if you want to change your car every few years.

Leasing also lets you spread the payments over a longer period of time. It reduces your initial costs and helps your cash flow. And lease payments are usually classed as a business expense for tax purposes, reducing the net cost of your lease.

However, the car will end up costing you more than if you had bought it outright.

And you don’t end up owning it, so there is no resale value for you.

When you own a car, you can depreciate its usable value over its lifetime. This depreciation may be charged against your tax by claiming capital allowances.

However, if you borrow to buy your car, this can tie up lines of credit.

Whether you’re looking to lease or buy, work out the total cost for both options and how long you want to have the car.

Which is better – leasing or buying?

Advantages of leasing

• For a relatively low initial payment, followed by regular monthly payments, you get all of the benefits of running a brand-new vehicle. This includes full manufacturer’s warranty cover, which typically lasts for two to five years.
• For tax purposes, leasing can be an attractive option because many businesses are able to claim back part, or all, of the VAT. Exact figures depend on the VAT scheme that your company falls under but as a general rule companies can claim back 50 per cent of the VAT if a car is used for mixed private/business use and up to 100 per cent on a van. Also, worth considering is the Lease Rental Restriction. If you lease a low-emission car such as a Toyota Prius or a Nissan Leaf, you can claim 100 per cent of the finance element of the lease rental cost against your annual taxable profits. If your car emits over this amount, then you can only claim 85 per cent.
• Leasing agreements can have servicing and maintenance added to the monthly package. This allows you to better predict the cost of motoring and avoid the nasty surprise of unexpected repair bills.
• Most lease agreements now offer a degree of flexibility at the end of the lease, allowing you to choose between purchasing the vehicle outright, refinancing or simply handing the vehicle back.

Disadvantages of leasing

• You don’t own the vehicle and therefore it cannot be taken to cover any debts if the business has financial difficulties.
• Annual mileage is one of the main factors that determines cost of leasing a new vehicle – the more miles you do, the more expensive the monthly payment will be. If you do more than 30,000 miles per annum it may not be possible to lease a vehicle from certain providers.
• When purchasing a vehicle outright you only have one upfront payment to make (albeit for a large amount). With vehicle leasing you are committing to paying hundreds of pounds each month for the duration of the lease.

Related: Car leasing – what is fair wear and tear?

Advantages of buying

• You have a better chance of negotiating the list price down than you do with leasing.
• Because a vehicle is an asset, it can be taken to pay an outstanding debt.
• You own the asset and can decide to sell or trade it in any time. You are not tied into running the vehicle for a specific period as you are with leasing.
• There are no mileage restrictions when you own the vehicle.

Disadvantages of buying

• Depreciation begins as soon as a vehicle leaves the forecourt. According to the AA, a new car will have lost around 40 per cent of its value by the end of the first year alone. Half its value may be lost within the first three years.
• You need to have a large amount of capital available to purchase a vehicle outright, which you are then tying up in a depreciating asset.

Money

Leasing	Buying
Fixed monthly payments.	No monthly payment.
Low upfront cost, freeing up money for elsewhere in business.	Large upfront cost, with money tied up in vehicle. If borrowing, monthly payments on a bank loan are normally higher than leasing.
Leasing companies buy thousands of vehicles each year, which means they have buying power. This can mean better value for money.
Claim back 50% of VAT if car is used for both business and pleasure. And 100% if used solely for business.	Purchase price can be written off.
	You keep the cash from any sale.

Risks

Leasing	Buying
The depreciating value of the car is the leasing company’s problem, not yours.	Vehicles lose value quickly.
Maintenance cover can be included in leasing payments, to cover servicing and unexpected repairs, helping cash flow when it comes to unexpected bills.	Maintenance costs increase as a vehicle ages.
Penalty fees if you want to exit lease early.	Freedom to sell the car when you want.

Afterwards

Leasing	Buying
At the end of the contract, you hand the vehicle back and the leasing company sells the car on.	Finding a buyer and negotiating the second-hand price is your responsibility.
You can be penalised if you exceed pre-agreed mileage allowance.	No rules about how many miles you can do, or the condition of vehicle.

Is it better to lease a car through my company or personally?

Okay, let’s assume that you’ve decided to go down the leasing route. You still need to decide whether to lease your car through your limited company or personally. There were 1.8 million personally leased cars on UK roads in 2018, according to BVRLA.

Benefits of leasing through your business

• There tend to be better lease deals for business users
• You still have to pay company car tax, but it’s often cheaper than personal car tax
• If you use vans or pickups, you pay a fixed car-tax rate.
• Avoid paying VAT on leasing payments (if VAT registered).

Benefits of leasing your car personally

• You get a brand-new car every couple of years.
• Vehicle Excise Duty (road tax) usually included.
• You don’t have to pay company car tax.

The post Is it better to buy or lease a car for your small business? appeared first on Small Business UK.

Levi Roots bursts onto the stage, singing the classic Reggae Reggae Sauce song. “It’s so nice, I had to name it twice…”

He’s speaking at the SME XPO in London’s ExCel Centre.

“I have a confession: if you’re expecting to learn about business and P&L (profit and loss), get the hell out of here,” he laughs. “If you’re seeking inspiration from hearing a story, if it inspires you like it inspires me, I’m your man.”

He takes the audience through his beginnings in Clarendon, Jamaica. His parents were part of the Windrush generation, being told that there was gold dust on the ground in England. As years passed, his five older siblings (Levi being the youngest) packed their suitcases to move to England while their grandmother wept. When it was finally his turn at the age of ten, Roots set off to the UK having never worn shoes and not knowing how to spell his name: Keith Valentine Graham.

The struggles of racism in England quickly became apparent. He deeply missed his grandmother and when she died when Roots was 16, he started spiralling. After a nine-year spell in prison in 1986, and disbelief from everyone he knew, he turned his life around.

Here are the lessons he’s learned.

Be yourself

The overarching message of Roots’ whole talk is to be true to yourself.

When he went on Dragons’ Den, Theo Paphitis asked if Levi Roots was his real name and he said no, it’s Keith. It was then that Roots realised the importance of being who you are.

“Don’t undermine who you are by comparing yourself with others, by what other people think is important,” he said. “I rejoice in who I am.” That being said, you can benefit from a little nudge. “Sometimes it takes someone else to spot who you are. Someone else takes a chance on you. Hardly anyone changes for themselves – that’s why you should surround yourself with these people.”

It helps to have something or someone to keep you going when you go through a tough patch. “It had to be my Rastafarianism,” Roots said, “But it could be your dog, cat or friend.”

>See also: Theo Paphitis 6 micro business tips Q&A

Mentor and be mentored

Roots met his first mentor at his lowest point. What made the change is that he opened up and listened to someone for the first time – she was the first person who really believed in who he was. “You’re not Keith. You’re Levi Roots. You look to cook,” she said to him. “People who go through the struggle, like me, they need mentorship and someone who can say, ‘I can help you’.”

He talks about going back to prison – for the right reasons – to be a mentor. He worked with a fashion brand, Inside Out, which showcased at London Fashion Week: “If you can pay them attention, the reward is fantastic.”

Have the right people around you

“Peter [Jones] is the most amazing person.” Roots says. “Surround yourself with like-minded people.”

>See also: Who were the Dragons’ Den Dragons and where are they now?

Though his new-found investors weren’t as proactive as you might expect. “The Dragons didn’t do a lot to help me,” he admits. “Peter Jones made one call – to Sainsbury’s chief, Justin King.” Roots left the kids at home making the sauce. He only had 67 bottles and hoped Justin wouldn’t ask for more than that.

“We love the Reggie Reggie [sic] Sauce, he said,” Roots laughs. King went on to order 250,000 bottles.

With this comes the people you don’t want to surround yourself with. He uses the ‘crabs in a barrel’ analogy to describe the desire of others to not see you get ahead. “They couldn’t accept that a black Rasta man from Brixton could get this much attention,” he says.

People told him that his idea was ‘too black, Jamaican and Rasta’, warning him not to go on Dragons’ Den and sing ‘that song’. A few hours after Justin King from Sainsbury’s made the offer, Roots got a second call to say that Reggae Reggae Sauce had outsold Heinz ketchup. “Something I made in my kitchen, something that was me,” Roots says.

These days, he only has one employee – his personal assistant. “The other jigsaw pieces are lawyer, accountant and brand manager. Between them, it really helps to run the brand together.”

How does he do the rest?

Outsourcing is key

When he was given the opportunity by Sainsbury’s, he couldn’t turn it down. However, the sauce had to change because it had too many ingredients to scale it up. “Remember, every scotch bonnet is kissed, every onion cried with. Is my granny cussing me above telling me don’t change the recipe? Do I have it as close as I can get to the original? That was the best decisions that I ever made.”     

Think about your goals as a business before you commit, though. “If you’re outsourcing – you’ll have to make that decision too. I had to think very quickly: do I want to keep it secret or do I let it fly and fly with it? It depends on where you want to get to. You could do the original and take years and years, but I wanted to get there faster.”

He adds that, when brand is powerful, there is nothing more important than outsourcing. If a brand is built well then people want to partner with you. “I couldn’t tell Justin King to wait six months until I built a factory. I outsourced to make 250,000 bottles in record time.”

Find your own market

As Roots says, nobody has a right to a market, so you have to go and find your own: “We went to anywhere with ‘shire’ at the end of it. We wanted to introduce Caribbean food outside the local area. Find your market – they’re out there!”

He thought that, as a MOBO award-nominated musician, things would be easier, but he didn’t sell Reggae Reggae Sauce locally for two years because people in the area didn’t want to buy it.

Protect your brand

Following a lengthy legal battle with two ex-friends, Roots realised he should have protected his brand from the get-go, but it was the least of his worries at the time. “Secrets are a bad thing in business. When I won, it was a lesson to protect the brand. The most expensive thing in your business plan is sorting legal things. Otherwise, it will bite you in the backside,” he says.

Protecting the brand also means protecting its identity. For example, Roots has turned down developing £12m of pork products, because Rastafarians don’t eat pork. He’s also turned down alcohol – namely rum – as it’s not part of the brand.

Levi Roots sticks to Caribbean food to retain its authenticity: “As a Rasta man, it helps to keep the brand going. But we know Jamaica is only one island in the Caribbean. I’ve just discovered Guadeloupe and want to explore.”

Read some Shakespeare

Roots tells of how he became acquainted with the Bard during his time in prison: “A lady came in and threw The Complete Works of Shakespeare at me.” He recites a passage from Caesar, where Brutus said:

“There is a tide in the affairs of men.
Which, taken at the flood, leads on to fortune
…
And we must take the current when it serves,
or lose our ventures.”

That’s the attitude he’s taken into business. “Take the current when it serves,” he emphasises.

He also refers to the line: “Sling and arrows of outrageous fortune” from Hamlet, coming back to the central theme of his talk. “Be the best of yourself when it comes. Your journey will always be like this. It won’t be smooth. You have to be you to deal with that.”

Read more

Top 10 motivational speakers for small businesses

The post 7 business tips from Levi Roots appeared first on Small Business UK.

In most cases, it is up to you, as owner-director of your small business, to arrange insurance for your company car. Typically, if the company owns the vehicle, the company will arrange company car insurance under a fleet insurance policy. This insurance will cover your employees for both business and private mileage.

Company fleet car insurance

Fleet insurance is designed for businesses who have two or more vehicles. So, rather than paying multiple premiums for several vehicles that all have unique renewal dates, fleet insurance makes things simple. You can renew the insurance for all your vehicles at the same time and pay a single premium, reducing the amount of admin.

Fleet insurance extends to all classes of vehicle owned and operated by your company for its business operations. This includes any company-issued cars your employees use for work journeys, as well as taxis, motorcycles, minibuses, HGVs, trucks and even plant used on construction sites.

Similar to private car insurance, fleet insurance is mostly available in three different levels of cover:

Third party covers your business if other people claim against you for injury or for damage to their vehicle or property

Third party, fire and theft covers your business if one of your fleet vehicles is damaged by fire or stolen, as well as if other people claim against you for injury or for damage to their vehicle or property

Comprehensive covers your business is a vehicle in your fleet is stolen, accidentally damaged or damaged by fire, as well as damage to other people’s property or bodily injury

Most insurers will also offer vehicle breakdown cover as an add-on.

Typical questions fleet insurers ask include:

• How many vehicles does your company own?
• What types of vehicles do you want to insure?
• How old are the vehicles?
• How often are the vehicles used?
• Condition of vehicles?
• Where are the vehicles kept overnight?
• Are any of them fitted with additional antitheft devices?

Named driver or any driver policy?

Named driver policies are more affordable and suitable for smaller businesses, while any driver policies are better suited to larger businesses where cars are interchangeable – but that flexibility comes with higher insurance costs.

Company car insurance rules UK

However, if an employee uses their own vehicle, they need to ensure they have business car insurance and not just “social” or “social and commuting”.

Business use insurance covers:

• Visiting customers
• Driving between offices and locations
• Travel to meetings
• Running errands
• Ferrying clients
• Driving colleagues

How to save money on company car insurance

There are several ways you can reduce your company car insurance premium:

• Choose a car in a lower insurance group with low emissions
• Park the car overnight offroad in a locked garage
• Install security features such as alarms, immobilisers and tracking systems

Grey fleet vehicles

If an employee uses their own car for your business, for which receive a fixed mileage allowance, these are known as grey fleet vehicles. It is the employee’s responsibility to insure the vehicle, but the company has a responsibility of care to ensure that correct company car insurance is in place.

Under the Health and Safety at Work Act 1974, managers of grey fleet vehicles have a responsibility to check that all vehicles are properly serviced, maintained and insured for business use. They should keep records of all grey fleet vehicles for at least 12 months.

Pro tip: Grey fleet cars can be an economical solution for both employees and companies since neither are subject to benefit-in-kind charges against either the car or the fuel.

Business insurance vs commercial insurance

If you carry passengers or goods, commercial insurance may be a better fit than any of the three classes of business insurance above.

Company car insurance rules if employee has criminal record

Criminal convictions increase how much your company car insurance costs and even if you will be able to get company car insurance at all. Obviously, insurers will balk at criminal convictions for car theft or drink driving. However, there are specialist car insurance policies for those with criminal records.

MoneySuperMarket data suggests there can be nearly a thousand pounds difference between the cost of insuring somebody with a criminal record and someone who doesn’t have one.

Company car insurance rules for new drivers

Again, insurance companies understandably charge new drivers higher premiums based on their lack of experience.

Strictly speaking, there are no age restrictions on fleet insurance, but most insurers operate on an Any Driver Over 21 or Any Driver Over 25 basis – but this does not mean younger drivers cannot access fleet company car insurance. You can always ensure younger drivers can drive fleet vehicles by adding them separately.

Best fleet insurance brands

Admiral

Admiral Fleet Insurance is aimed at small businesses running at least three cars or vans. You do not have to name individual drivers on the fleet insurance policy as it covers any driver aged over 25.

There are two types of Admiral Fleet Insurance policy, depending on what you carry:

• Own goods (e.g., plumbers, builders, carpenters)
• Carriage of goods for hire and reward (couriers, furniture removers)

Admiral Fleet Insurance includes the following in standard cover:

• Windscreen repair
• Courtesy cover
• European cover
• Stereo cover
• £5,000 personal injury cover
• SatNav and personal belongings cover

You can also upgrade fleet insurance cover:

• Personal injury cover up to £100,000
• Legal cost cover
• Breakdown
• Van contents cover

Aviva

Minifleet

Fleet insurance for small businesses with anything between one and 15 vehicles used by a business.

Single vehicles insured under Aviva’s Minifleet policy will be offered a no claim discount-rated quotation, a two-vehicle police can choose with NCD or fleet rating and any policy covering more than three vehicles will be offered a fleet-rated quotation.

• Repairs guaranteed for three years
• Courtesy car
• Legal services and advice included. Optional breakdown cover

Fleet

Designed for businesses with more than 13 vehicles. You can choose between different types of cover: third party only, third party fire and theft, and comprehensive.

• Repairs guaranteed for three years
• Courtesy car
• Legal services and advice included. Optional breakdown cover

NFU Mutual

NFU Mutual’s Fleet Insurance product provides wide ranging cover for businesses with five or more vehicles (cars or commercial vehicles). It covers theft of or damage to the vehicles as well as your legal liabilities for personal injury to other people and for accidental property damage (up to £20 million for damage caused by cars and £5 million for damage caused by all other vehicles).

Vincent Wright, commercial motor and liability manager at NFU Mutual, told Small Business: “It’s not just prudent but crucial for businesses to ensure they have high quality commercial vehicle insurance, ideally one that covers every possible claim – from theft and damage, to excellent legal, accident and rescue cover too.

“A stolen or damaged van, truck or car can mean not just days but weeks of delays and financial loss for businesses. Our commercial vehicle insurance at NFU Mutual has an excellent reputation, largely thanks to the prompt response we offer and benefits such as New Vehicle Replacement [NVR], road rescue, trailer and tools cover, as well as personal accident cover.”

NFU Mutual’s cover also includes:

• New Vehicle Replacement, which means if you purchase a UK model from new that vehicle will be replaced as new if stolen or written off in the first two years for cars and one year for lights goods vehicles 
• Legal expenses cover up to £100,000 – to help customers recover uninsured losses for claims where they (or their driver) were not at fault
• If customers use one of NFU’s approved repairers, the benefits include a three-year guarantee on repairs and a loan car while your vehicle is being repaired (this will be a small car, not a direct replacement)
• Road rescue after an accident – recovery of cars and light goods vehicles following an accident, including transportation to a repairer, home address or destination
• Breakdown cover for cars only – If your vehicle breaks down more than 1/4 mile from where it’s usually kept, you have roadside assistance, which includes labour costs up to one hour to repair the vehicle at the roadside and if a roadside repair isn’t possible, we will transport the vehicle to a suitable garage within 20 miles

Cover is chosen by the customer and can be comprehensive, third-party fire and theft, or third party only. These will all meet the minimum legal requirements in the UK and the European Union.

• You can extend your breakdown cover to include other vehicle types, assistance at home/place of business, vehicle recovery to anywhere in the UK, and onward travel for passengers (availability is determined by type of and number of vehicles on the policy)
• Tools cover – Loss or damage to tools while they’re in the vehicle, up to £500
• Trailer cover – customers can cover trailers in the same way as other vehicles, including while they’re detached
• Personal accident cover – this covers you for injury following a vehicle accident: death, up to £15,000; loss of limbs or eyesight, up to £5,000
• Personal effects will cover loss or damage to personal effects while they’re in the vehicle, up to £250.

QBE

Award-winning insurer QBE has been providing motor fleet cover since 1927. However, it is only available through brokers. It covers some of Britain’s best-known companies with thousands of cars on the road. Ideally customers have been trading for over two years and drivers are aged over 25.

Mini fleet

QBE Mini Fleet covers cars, vans, trucks (up to 7.5 tonne GVW), minibuses, agricultural, special types, or a mix of business vehicles on one policy.

It typically quotes for between 3 to 10 vehicles (with the capability of up to 15), across a wide range of sectors, including clerical, manufacturing, construction and tradespeople.

• National repair centres
• Mobile repair service
• Courtesy vehicles
• All repairs guaranteed for three years

Compliance

QBE says that compliance is one of the biggest challenges facing any business, especially in the small-to-medium sector.

In particular it helps firms:

• Stay up to date with latest regulations
• Offers templates for driver handbooks and policies, collision investigation protocols and scene-of-accident report forms
• Advises on electronic driving-licence checks

QBE also has a strong social conscience, offering customers the choice to have up to 25 per cent of their premium diverted to “impact” investments, which deliver a positive environmental or social impact.

Swinton

Swinton offers fleet insurance starting from just two vehicles registered to your company. Vehicles covered include cars, vans, HGVs and trucks, and vans. It offers two levels of fleet car insurance, comprehensive and third-party, fire & theft.

Depending on the scale of cover you opt for, policies can include:

• Loss or damage to your vehicles
• Vehicle recovery in the event of an accident or breakdown
• Legal fees
• Damage to the windows or windscreens
• Replacement locks should your keys be stolen
• Support towards medical expenses
• Driving abroad, usually with a maximum limit of days allowed per year
• Cover for any personal belongings lost or damaged in an insured vehicle
• Trailers attached to a vehicle insured under the policy
• Courtesy car

Towergate Insurance

One thing that sets Towergate Insurance apart is that it offers fleet customers a dedicated fleet risk manager. This broker offers two types of fleet insurance: Minifleet, which covers up to 12 vehicles, and Fleet, aimed at businesses with at least five vehicles.

Best business car insurance brands

AXA

Customers with an AXA personal car insurance policy can extend it to cover using their personal car for business purposes. To ensure cover is in place for this, customers must specify they use their vehicle for more than social and commuting when they purchase their policy by selecting business use from the options.

However, AXA’s business car insurance policies exclude cover for any goods or materials carried in connection with a business. Personal cars being used for making deliveries (including hire and reward) are also excluded from cover.

• Courtesy car
• Breakdown assistance

Hastings Direct

Hastings Direct suggest you take out its comprehensive personal car insurance and then upgrade to its business car insurance package. There are a range of comprehensive personal car insurance packages starting with Hastings Essential, going up to its Premium policy, which features as standard windscreen cover and window damage, personal belongings protection up to £300 and a courtesy car.

More on company cars

Can you have a company car if you’re self-employed? – Mike Parkes of GoSimpleTax explains the must-know info about owning a company car when you’re self-employed

Buying a car through your business – If I bought my car for £7,000 + VAT and use it 50/50 for business and personal use. How much can I claim back? I’m so confused.

A guide to car leasing for small businesses – In this piece, we look at how leasing your business vehicles can help save money.

How to manage company car tax as a small business owner – If your employer gives you a company car on top of your salary, you still have to pay tax on it. We look at the ways you can reduce your company car tax bill

The post Company car insurance rules appeared first on Small Business UK.

The government will be replacing the Energy Bill Relief Scheme (EBRS) with the Energy Bills Discount Scheme (EBDS) on April 1, 2023.

This new plan amounts to a drastic cut on EBRS. The current scheme is worth £18bn whereas the replacement will be capped at £5.5bn. It will run until the end of March 2024.

We take a closer look at what the new support programme entails.

Am I eligible for the Energy Bills Discount Scheme?

Businesses eligible for the Energy Bills Discount Scheme are:

• On existing fixed price contracts that were agreed on or after December 1, 2021
• Signing new fixed price contracts
• On deemed / out of contract or standard variable tariffs
• On flexible purchase or similar contracts
• On variable ‘Day Ahead Index’ (DAI) tariffs (Northern Ireland scheme only)

Businesses are set to receive a per-unit discount on their energy bills during the 12-month period, up to a maximum discount. The relative discount will be applied if wholesale prices go above a certain price threshold. For most businesses, these are:

• Electricity – £19.61 per megawatt hour (MWh) with a price threshold of £302 per MWh.
• Gas – £6.97 per MWh with a price threshold of £107 per MWh

Energy-intensive and trade-intensive industries will be eligible for greater support. The maximum discounts and price thresholds for these sectors are:

• Electricity – £89 per MWh with a price threshold of £185 per MWh
• Gas – £40 per MWh with a price threshold of £99 per MWh

Most businesses won’t have to do anything – your energy provider will automatically apply the discounts to the bills of eligible customers. The discount will be applied in pence per kilowatt hour.

However, energy and trade-intensive sectors will have to apply for the greater support. The government has yet to confirm details of this.

Find out more, plus examples, at the Government website

How does the Energy Bills Discount Scheme compare to the Energy Bill Relief Scheme?

The Federation of Small Business (FSB) has found that 370,000 (28 per cent) of small businesses that signed up to fixed price energy deals last year may have to downsize, rethink their business model or close altogether after the current energy support ends in April.

It gives the example of a pub paying £24,528 a year for energy under the current support scheme – for 48,000 KwH in electricity and 192,000 KwH in gas on a contract signed last August – would be paying £82,539 under the new scheme. It would be receiving £60,000 relief on the estimated £85,000 bill through EBRS. Under the EBDS it’d be receiving just over £2,000 in support.

The body has called for small businesses to be allowed to renegotiate or ‘blend and extend’ their energy contracts that were fixed last year to take advantage of the lower wholesale prices that are available now.

Tina McKenzie, policy chair of the Federation of Small Businesses (FSB) said:

“In a week’s time with the rollback of government support, this group of vulnerable small firms will see their bills revert to high rates. This cliff-edge will also hit consumers as businesses will have to raise prices to cope with soaring bills, driving up inflation.

“Our message to the government is: show the small business community that they’re being treated as equal partner in this energy price crisis. That would keep 370,000 small firms off the cliff as well as the jobs and communities which depend upon them.”

Should I opt for a fixed price energy deal?

If you’re coming to the end of your current energy contract, then it would be a good time to have a look around and lock in the best fixed rate.

Ed Whitworth, head of energy performance at Bionic, said: “Although available to all non-domestic customers on contracted, deemed, and out-of-contract rates, it’s still worth comparing energy quotes and locking in your rates.

“Fixing your rates will guarantee bill stability in what’s still an uncertain market by locking in a consistent price for your energy. And, as with the Energy Bill Relief Scheme, the lower your contracted rates, the lower your discounted rates will be.”

Further reading

Where to find green small business grants – featuring renewable and energy efficiency grants from either local authorities or national organisations promoting sustainability opportunities for UK SMEs.

How to find the best energy supplier for your small business – Which suppliers are out there and how do they compare?

The post How does the Energy Bills Discount Scheme work? appeared first on Small Business UK.

Business leasing use is becoming a popular choice in the UK as people look for ever more affordable ways of obtaining a new vehicle. Businesses especially have turned to leasing fleets of new cars or commercial vehicles knowing that they can simply hand them back at the end of the lease and get another new one. And the cycle continues.

It wasn’t too long ago that the neighbourly mark of success was a big, shiny company car gracing your driveway – and those were often for personal uses too. Nowadays it’s only common in certain industries to have a company car, or indeed one that is big and shiny, if you had to travel up and down the country on a regular basis. But what is becoming more apparent is the need to have business vehicles which are highly economical and up to date in order to give off the right image for your brand and which will save lots of money in the long run over a used vehicle.

So what are the options for a company which needs maybe just one, two or three cars for business uses? There are two – buying or leasing. Today we’re going to discuss how leasing your business vehicles can help save money, which is what every small business will strive for especially during our current national uncertain economic times.

Related: 8 of the best electric cars for small business leasing

What is car leasing?

To start with, if you haven’t come across leasing before then here are a few known facts to get you up to speed. Leasing means that you can obtain a new vehicle of a higher specification that would normally be out of price range if you were to buy it, meaning you’ll get much more car for a lot less than it would cost to own outright. Secondly, leasing presents a new perspective of ownership, as the car is yours for the term but at the end of the lease the vehicle (provided it is in the correct condition) can simply be handed back to the finance company, which means a hassle-free process that can be started up again with a new lease and another brand new vehicle.

With that in mind it can be fairly easy to see why this process of obtaining a vehicle is attractive to businesses and that’s not all. Leasing a vehicle means that a business will pay a monthly rental charge for each vehicle, which is calculated based on the vehicles value and CO2 emissions. This one monthly payment can mean managing your business’ outgoings becomes a lot simpler, especially if you want to add extras onto the lease such as a maintenance package.

Adding maintenance to the lease

Having maintenance added to your lease can cover a whole host of inconvenient and worrisome costs that come with using your vehicle. Things like yearly servicing, like-for-like tyre replacements and roadside assistance are all costly extras that your monthly rental amount doesn’t cover on its own. But with a maintenance package that is exactly what is covered, so you have peace of mind that if one of your vehicles needs two new tyres then the costs are already taken care of. This package can vary in cost depending on the vehicle you lease and will simply be added on to your monthly rental amount.

So we’ve explained the nice, fluffy parts of leasing your business vehicle, but now we’re knuckling down and we’re going to explain the potential tax benefits of leasing. Wait, don’t go! This is important for you and your business and some effort has gone in to explain this in an interesting and simple way so you don’t get bored, and that takes a lot with tax subjects.

Here it goes then. First of all, below is a general overview of how this system can work; it does not necessarily apply directly to your business, as each company will have different outgoings and tax payments, etc. This will just give you a nice idea (hopefully) of the process.

For businesses choosing to lease their vehicles where it is handed back at the end of the lease term and the business doesn’t own it – you have an Operating lease type. This means you might be entitled to claim your tax back on your entire lease due to what’s called a ‘Benefit-in-kind’ payment. This is where the tax payment is shifted from the car to the employee when the Government feels that your car is provided as part of your earnings package by your company, and therefore you are liable to contribute a ‘Benefit-in-kind’ payment from your National Insurance or Income Tax. This is a method which can be cheaper than using your own car and expensing business mileage and one which is used by many small businesses to save money on their company vehicles.

What to consider when leasing

Personal preference, your budget deposit, monthly cost and mileage allowance will all need to be taken into account when leasing your car. When it comes to mileage allowance, do bear in mind that there are ferocious financial penalties if you go over your mileage limit.

Car insurance won’t be included in the cost so you’ll need to factor in a policy on top of your other costs. Fully comprehensive car insurance is mandatory – thankfully it’s no more expensive to insure than a non-leased car.

If you or an employee is at risk of damaging the car you may not get some of your initial costs and you’re likely to be lumped with additional repair fees.  

Can I buy my leased car?

If you can’t afford the car you want upfront, opt to buy it under a business lease purchase and become the legal owner at the end of the contract. You have to make a payment (also known as a balloon payment) at the end of the contract. This will be on top of your deposit and monthly payments throughout your lease.

Should I lease a car for my small business?

So now that we’ve outlined a possible new perspective on leasing a vehicle for business use and hopefully you’ve gained an important new insight into the workings of tax, you are now in the position to search for your next business vehicle using a new method, and one that will hopefully save you time, stress, money and that will help your business grow successfully.

Further reading on company cars

• Tax-efficient company cars
• How to manage company car tax as a small business owner

The post A guide to car leasing for small businesses appeared first on Small Business UK.

When getting your new business off the ground it is important to be clear about which steps to take and to get everything in order prior to launch. In this article we have put together some of the key aspects for entrepreneurs to consider for business start-up success.

1. Involve your family

If you have any family members who are interested in business, involving them in the decision to go it alone is important. Your home atmosphere should be very supportive, particularly in the early stages. Your family could also be useful as a sounding board, helping out with the odd task or providing feedback or finance.

If you want to go a step further and get your family helping with the business, here are a couple of quick pointers. Values are key to the running of the business, not least to maintain consistency in how your staff interact and how decisions are made. Having a set of values in place makes it easier to pass them down to the family member or third party that takes over the business.

Agreeing on a corporate strategy and other plans and policies in writing will play a part in diffusing tension and arguments down the line. A leadership structure with clear responsibilities for each staff member provides much-needed guidance. Finally, if there are non-family members in the business, ensure promotions and roles are based on a meritocracy to keep relations among employees harmonious.

Don’t forget work-life balance. Try and prevent shop talk bleeding into family time as far as possible to give yourselves a break from the business, allowing yourselves to have quality time together.

Small Business Pro is the ideal tool for you when you’re starting your business. It will help with the heavy lifting of managing customers, taking payments, insurance, finance and HR, plus you’ll get a host of personal wellbeing benefits.

You can find out more about Small Business Pro here.

2. Analyse your personality

You need to ask yourself if you are the right person to start a business. Compile a checklist with the help of the following questions: 

• Can you work long hours?
• Can you take criticism?
• Will you be able to cope with financial insecurity?
• If your business struggled in the early stages, would you continue?

Write down the reasons why you are starting a business.

It helps if you’re outstanding at what you do, are able to attract repeat business, have something that only you can bring to the business, can strike great deals and are adept at money management. Read more at 5 winning traits 5 top entrepreneurs all have in common.

3. Make sure your product is a must-have not a nice-have

Once you’ve got an idea you need to know that people will need it enough to want to buy it. Many people opt to begin a business by using a skill that they have acquired in their spare time as a hobby, such as jewellery-making.

4. Your idea doesn’t have to be new

Trying to sell a product that is new can be an uphill struggle. Being first is not always best, as you have to educate a market and convince them of the need for your product. So don’t be put off if your idea has been done before – think about how you can do it differently, by including an additional feature or benefit.

One way that you can test this is by establishing your product or service’s unique selling proposition (USP) to see if it has an edge over your competitors. Alternatively, it could just be something that isn’t available in your local area, such as private physiotherapy.

You can define your USP with the following three tests:

• Does your consumer want your product/service?
• Does your competitor do it better?
• Are your competitors doing just as well as you are?

>See also: Three tests to measure the strength of your USP

5. Know your market better than your competitors

Carry out as much market research as possible. Find out about your market place, concentrating on areas such as the demand, your competitors and the size of the market. Talk to potential customers, suppliers, competitors, distributors and ex-employees of competitors.

Once you’ve got your product/service and the market you’re targeting, test, test and test again to ensure that you remain competitive.

6. Toe-dip

Everyone has different motivations for starting a business, and toe-dipping means you can test your idea out without risking everything. You can carry on earning money from your job while you are starting up. Use your spare time to carry out your market research.

In modern parlance, this is a side hustle. Find out how to turn your hobby into a new career.

7. Be honest about your weaknesses

Identify what you do well and what you do badly, dividing it into areas such as financial, marketing, operational and general management. Be honest with yourself, but also be realistic. Try and get someone else to evaluate your answers – another person’s perspective can be very valuable. Identifying your weakness will help you to recognise what you are good at, and which areas you will need to find someone who can do a better job than you.

8. Get a good mentor on board

Remember – two heads are better than one. Seek out the advice of a family friend who has the experience of being in business, or someone who is recommended to you, or someone you are close to. They can provide an experienced objective eye over something that’s very precious to you. Consider giving them a share of the profits or equity in your company in return for advice.

>See also: Why every entrepreneur needs their own mentor

9. Justify every assumption in your business plan

But remember that whatever you write down is not set in stone. Your business plan should have longer-term objectives, estimates and forecasts – try to make as many of your goals as possible measurable. The two most important reasons for having a plan are to show to outsiders if you need to raise money, and to help you keep your business on a planned course, so you can spot when things are not going to plan

10. Keep your business plan succinct

An ideal format for your plan, if you intend it to be for outside use, is to have between three and ten pages of text that draw out the important points, plus a series of financial figures. Excessive detail should be confined to appendices. See our article on Top tips for writing a business plan here.

More tips to help you start your own small business

Your guide to starting an online business

The post Small Business top 10 starting up tips appeared first on Small Business UK.

Most people in the restaurant business know that their industry is a fairly risky one. This article discusses some strategies for surviving and then thriving as a restaurateur.

According to an Ohio State University study, the majority of new restaurants won’t stay open for a year. In addition, about 80 per cent will close within five years, finds Business Insider research. On the other hand, some restaurant owners get the formula right and manage to stay in business. These successful restaurateurs even grow their restaurant into a very established and popular food venue that lasts for decades or even generations.

Typically, if any business isn’t growing, it’s in danger of failing. Most people are at least somewhat familiar with a Food Network chef named Richard Irvine. He is partly famous because he hosts a TV show about failing restaurants and what can be done to save them. This experience makes him a good source of information about the things that restaurant businesses need to do in order to survive. He responded to a request for information about the main reasons that restaurants fail to thrive. With the famous chef’s answers in mind, it’s easy to come up with some useful tips that can help any eatery fare better.

1. Improve accounting methods

Irvine says that he encounters many restaurant owners who can’t even answer basic questions about their profits and losses, labour costs, and food costs. He’s surprised to find that some owners have this problem even if they have run their business for a few years. They may have calculated food costs once. After that, they set menu prices based upon these initial calculations. Months or years later, they failed to stay on top of rising costs and never adjusted their menu prices to make up the difference. Suddenly, they may find that their revenues are the same or even greater, but their profits have tanked.

An investment in restaurant accounting software could help save both time and money. New software packages can even integrate with payment, inventory, and marketing systems in a very seamless and effective way. Mostly, just using good accounting software can help restaurant owners learn to properly track different kinds of revenue and expenses. They can also provide better information to base decisions upon. Good restaurant business software should be able to produce reports that make it easy to spot trends quickly.

See also: Best restaurant booking systems for small businesses

2. Manage cash flow better

When financial professionals evaluate businesses, they tend to look at cash flow management as a primary indicator of success or failure. Cash flow is simply a term that describes how money comes in and goes out of a business. When revenues are higher than expenses, a cash flow is positive. It’s very true that most restaurants won’t enjoy a positive cash flow every day. Equipment purchases, repairs, or even payday may mean that a restaurant needs to spend more than it can possibly take in. However, there are ways to prepare for these issues without having to balance an urgent repair against meeting payday.

For example, it might be wise to open up a line of credit to provide funding for restaurant businesses. The good thing about a line of credit is that it works like other kinds of revolving credit. This means that the borrower only needs to pay fees an interest on money that they actually withdraw. At the same time, the flexibility of this kind of loan may make it easier to invest in business growth while managing operating expenses. New online lending platforms are usually faster to approve and fund loans, and some may be friendlier towards restaurant businesses than traditional financing companies have been in the past.

3. Work on customer retention

It’s a given that it’s cheaper and easier to keep a regular customer than it is to court a new one. Repeat customers bring in reliable revenue. In addition, it’s this type of pleased customer who is more likely to pass on the good news about a restaurant’s food to friends and family members. Mr. Irvine says that restaurant owners should focus on the basics of great customer service and good food as a first step. If a customer doesn’t like the food or the way that they were treated, he or she will probably choose another place to eat next time.

However, many food establishments go far beyond the basics in order to grow their customer base quickly. For example, a restaurant business might offer special promotions for customers who sign up for a mailing list. Subscription lists could include regular mail, email, text messaging, and even mobile apps. Periodic discounts or even menu updates could motivate diners to choose one restaurant over another one when they want to eat out. It’s also possible to encourage diners to act as brand ambassadors who bring in their friends and coworkers by offering great two-for-one or even four-for-two offers. Restaurant owners may need to try out a few different strategies to encourage repeat diners.

Also see: Advice on launching a website for a restaurant or pub

Why keep improving and growing a restaurant business?

Naturally, a restaurant’s first year in business may be exceptionally risky. According to Mr. Irvine, restaurants that survive the first few years may face their own share of pitfalls. Restaurant owners may begin running their establishments by following very good practices for service, quality, accounting, and cash flow management. As time passes, the day-to-day demands of keeping the doors open may make it tough to keep up with the basics.

However, if a restaurant can keep increasing profits over time, that’s a good sign that the enterprise has been a successful one. In this competitive business, restaurant owners need to constantly strive for excellence in all aspects of their business and they will be able to reach their biggest company goals.

This article was supplied by Kabbage.

Further reading on restaurant business

• Opening a restaurant: The key ingredients to start-up success

Trade shows for those involved in the restaurant business

These are the main events and exhibitions for those involved in food and drink businesses which may be useful to attend if you are looking to stay current about the latest developments.

UK Food & Drink Shows

The post Three tips on growing your restaurant business appeared first on Small Business UK.

Figures from the Federation of Small Businesses show that 50,000 business close every year due to late payments.

Citing the research, Small Business Minister, Kevin Hollinrake, made renewed calls for small businesses to be paid promptly. “For too many businesses, access to finance is difficult. Lots of businesses don’t want to borrow because of a trust relationship between business and banks at times,” said Hollinrake. “Late payments are seen as a finance problem. It creates a need with a business to go out and get finance, just to cover the debt.”

However, Hollinrake’s Shadow Small Business Minister, Seema Malhotra, pointed out that not a single company had been fined for a failure to comply with their duty to report on payment policies and practices.

In her own speech, Small Business Commissioner Liz Barclay said: “We’ve got to get the language right. I don’t want my 5.6m small businesses paid promptly, I want them paid much quicker, because if they’re paid promptly on 120 days, they’ve gone bust. We have a big, big problem with extended payment terms.”

She challenged the audience to think about the possibility of paying UK small businesses one week faster on average. “I think that £10bn more would be sitting in the province of small businesses. What would you do if you got paid faster? I think you’d invest, I think you’d have the certainty. If you have the certainty, you’d invest in equipment, you’d invest in training, you’d invest in upskilling, those people who are really valuable to you.”

The Government recently launched the Prompt Payment and Cash Flow Review to look at issues including the powers granted to the Small Business Commissioner.

Hollinrake appeared at an event hosted by Jane Hunt MP and TSB at Portcullis House, Westminster, called Pay Small Businesses Promptly!

Alongside Hollinrake were Small Business Commissioner, Liz Barclay; Small Business Britain founder, Michelle Ovens; and Shadow Business Minister, Seema Malhotra.

The release of the report, How to Grow, from Small Business Britain, highlights how small businesses can grow in a recession.

Read more

Government launches Payment and Cash Flow review

The post Small Business Minister calls for prompt payment as thousands of firms face closure appeared first on Small Business UK.

Businesses could have to find up to £34bn to top final-salary pension schemes as employees near retirement.

From October, the Government wants those businesses offering final-salary pension schemes – which pay staff a pension based on their final or average salary as opposed to how much they contribute – to switch to low-risk investments by the time

This leaves businesses facing a black hole of up to £34bn if they are to top up final-salary aka defined benefit pension commitments.

>See also: How to choose a workplace pension provider

It is thought around 6,000 UK businesses still offer final-salary pension schemes, according to the Pension Protection Fund, although the number is dwindling.

However, pensions consultant LCP warns that 200 companies could go bust if they have to meet these new requirements. (LCB was unable to say how many SMEs offer final-salary or Defined Benefits schemes.)

The £34bn figure is based on official estimates buried in one of a series of recently published The Pensions Regulator consultation documents, according to LCP.

>See also: How salary sacrifice can save thousands in workplace pension costs

A key challenge for firms that offer defined-benefit pension schemes is that their scheme may not currently be funded at the level Government wants from October. And they may not be funded at that level by the time the scheme becomes mature either. Employers could find themselves receiving demands from their pensions providers running into tens of billions of pounds

Michelle Wright, partner at LCP, said that the Government needs to be open about the potential impact of these new funding rules, which could see employers facing demands from pension schemes collectively running into the tens of billions of pounds over the following five years or so.

Wright warned that unless employers are given time to adjust, some businesses could find they simply cannot afford what they are being asked for and could be at risk of insolvency, “which is an outcome in no-one’s interest”.

More on pensions

Workplace pension schemes: What you need to know

The post Businesses face £34bn pension black hole appeared first on Small Business UK.

Over a million energy customers – including businesses – have signed up to the Demand Flexibility Scheme from the National Grid.

The scheme was established earlier this year to help ease the strain on the grid and avoid blackouts during high demand periods. In return, those who participate will get around £3 per unit (kilowatt-hour) they save, though incentives vary by supplier and will be credited to your energy account.

Craig Dyke, head of National Control, said: “These test results show that, if called upon, this service will help the ESO balance the national electricity network this winter.”

Here is more information on the scheme and how to apply.

What is the Demand Flexibility Service?

The Demand Flexibility Service allows households and businesses to be paid for reducing their energy consumption. This reduces the chance of the National Grid resorting to energy generators to meet demand or having to perform an emergency response.

The scheme will run at least 12 sessions on weekdays from November 3, 2022 – March 31, 2023. Again, dates vary by supplier. The reduced energy period will last for around an hour for each session and involves reducing your normal consumption by around 30 per cent.

The best way to do this is to avoid using energy-intensive appliances such as ovens and dishwashers. Low-energy appliances such as lightbulbs and modern TVs are fine to keep on.

You’ll be given a day’s notice before each sessions so that you can opt in or out depending on your schedule. There are no penalties for not taking part but you won’t receive your incentive from your supplier, even if you’ve signed up for the session.

Am I eligible?

You must have a smart meter that can take half-hourly readings and be with one of the following suppliers to sign up:

• CarbonLaces
• Conrad Energy
• CUB (UK) Ltd
• Drax
• EDF
• ENGIE Power Limited
• Equiwatt
• Flexitricity
• Grid Beyond
• Gridimp
• Labrador (via Perse Technology Ltd)
• Oaktree Power
• Octopus Energy
• Pearlstone Energy
• SMS
• VPowerU
• Zenobe Energy Ltd

However, some suppliers are working on an invite-only basis so if you haven’t heard from them, you may not be eligible.

How do I sign up for the Demand Flexibility Service?

The scheme is open to ‘as many people as possible’ and you should have been contacted by your supplier. If not, your supplier may still be taking sign-ups – head to their website to see if you can still register.

What about the Energy Bill Relief Scheme?

The Demand Flexibility Service comes at a time when many small businesses struggle with their energy bills. After denying in the Autumn Statement that the Energy Bill Relief Scheme would be extended, chancellor Jeremy Hunt is reportedly considering an extension beyond March. It would apply to all British businesses rather than just vulnerable industries such as steel and ceramics. However, it would be lower than the current level. The announcement is due to be made ‘just before or just after’ Christmas.

Federation of Small Business (FSB) research says that almost a quarter of firms would close, shrink or restructure without further support beyond March.

Read more

Energy Bill Relief Scheme – how it works

The post National Grid Demand Flexibility Service – what is it and how much would my business be paid? appeared first on Small Business UK.