Working parents in England can start applying for 15 hours of funded childcare for their two-year-olds from 2 January.

This new employee benefit, initially outlined in the 2023 Spring Budget, aims to alleviate the substantial costs of childcare, potentially facilitating the return to paid work for up to 1.7 million parents in England, as highlighted by The Women’s Budget Group network. 

The average annual cost for full-time nursery care for a child under two in Britain, spanning 50 hours a week, currently stands at almost £15,000, as reported by the charity Coram.

Are you eligible?

Some two-year-olds in England were already eligible for 15 hours per week of government-funded childcare during term time under certain circumstances (for example if the family receives universal credit).

Now, it is available for all other families as well – where the parent or parents earn at least £8,670 a year, and less than £100,000 in combined income.

Parents transitioning into paid employment or boosting their work hours now receive immediate support, eliminating the need for subsequent claims, unlike the previous process.

How it works

Outlined in the spring budget in March 2023 by Chancellor Jeremy Hunt, the phased extension plan includes:

• April 2024: eligible two-year-olds will be entitled to 15 hours of childcare per week during term time. From this month, the government will also be increasing the amount it pays providers to deliver childcare: to an average of £11.22 per hour for under-twos, £8.28 for two-year-olds, and £5.88 for three and four-year-olds.
• September 2024: eligible children from nine months will get 15 hours of childcare per week during term time
• September 2025: eligible pre-school children between nine months and school age will get 30 hours of childcare per week during term time

Working parents of three and four-year-olds in England are currently eligible for 30 hours of free childcare per week during term time. The hours are available from the start of the term after the child reaches the relevant age.

All expansions should have fully rolled out by September 2025.

How to apply

For those residing in England, you can use this service to request a code to access your free childcare. 

Setting up a childcare account is essential for this process, so prepare your details, including:

• Your National Insurance number, and if self-employed, your Unique Taxpayer Reference (UTR)
• The UK birth certificate reference number of each child
• Your work commencement date

It’s crucial to secure a valid code by the month’s end before a new term begins, but the term dates and deadlines are outlined clearly on the application page before you start, so you know whether you’re within the right time frame. The application typically takes about 20 minutes, and confirmation may take up to 7 days.

Upon approval, you’ll receive a code for free childcare to provide to your childcare provider.

Note: Scotland, Wales, and Northern Ireland operate distinct schemes – and if someone else already claims Tax-Free Childcare for the child you’re seeking free childcare for, your application won’t succeed.

The UK is the third most expensive country for childcare among members of the Organisation for Economic Co-operation and Development (OECD) behind Switzerland and New Zealand, so this is a welcome move by the government for parents nationwide.

Applications for the first phase have opened, but parents are advised to register between mid-January and the end of February.

After six years of construction, the ribbon is about to be cut on Old Street roundabout, home to many innovative UK startups. The project, which was originally planned to complete in 2020, will now open in early 2024 according to Transport for London (TfL).

Launched to improve safety on the east London megajunction, the scheme has also become known as the ‘Silicon Roundabout’. This is due to its similarity to Silicon Valley as one of the UK’s largest clusters of tech companies.

The new road network was expected to encourage further tech growth and innovation. However, comparisons have since shifted to the broken promises and cancellation of High Speed 2 (HS2), and its saga of delays, budget overruns, and dashed hopes.

Much delayed and over-budget, the opening of Old Street roundabout has now come to represent the mouldy cherry topping off a difficult few years for UK tech firms.

From startup haven to traffic hell

Silicon Roundabout was initially envisioned to supercharge the UK tech scene. The upgrades would help it ‘level up’ to the same successes exhibited by its stateside counterpart, Silicon Valley.

These plans have been in the pipeline since 2012, when initial designs to revamp the notorious roundabout were pitched to the general public. With aims to enhance traffic flow and pedestrian safety, completion was originally slated for 2020, on a budget of £50M.

At the time, a government press release described the plans as a “visionary project to regenerate the Old Street roundabout, which will see it transformed into Europe’s largest indoor civic space, dedicated to startups and entrepreneurs in East London.”

Anyone who has paid a visit to the area in recent years will struggle to align that description with the scene around them.

Since work finally began in 2019, the space has become a snarled knot full of delayed traffic and pedestrian hazards. The result has been frustrated commuters, tech workers, and businesses.

Delays are due in part to the pandemic and national lockdowns, which began shortly after ground broke at the site. But another hurdle was the complexity of the plot, as the roundabout sits above a London Underground and national train station.

Recent estimates have put the total forecast cost for the construction project at £132M, representing an overspend of £82M from the initial funding awarded to TfL.

How Old Street and HS2 became city-sized headaches

Old Street’s lost ambitions can’t help but invite parallels with another ill-fated infrastructure project, HS2.

The once-gleaming vision of a high-speed UK rail network is now expected to be delivered 19 years later than planned, and with half of its major legs scrapped. A £37.5 billion price tag has also morphed into a staggering £106 billion.

As a result of the cancelled work, network improvements will almost exclusively take place in the South of England, aggravating the North-South divide the project was set up to fix.

It is unclear what the consequences of Old Street’s delays will be. However, many of the companies that made corporate commitments to east London’s ‘Tech City’ have since abandoned them, turning Silicon Roundabout into an emblem of the area’s lost potential.

They include Google Campus, a seven-storey hub for the tech and media community in East London which closed in 2021, and TechHub, home to hundreds of startups at the heart of Old Street. Both offered events, mentorship and classes for growing businesses.

Tech startups shown hiring red light

Old Street’s (hopefully) grand opening later this year may come too late for the UK’s science and technology sector. The industry faced a trifecta of challenges in 2023, significantly choking growth.

The first blow came from the defunding of Tech Nation, a vital source of support for early-stage companies. The decision surprised many, and left hundreds of founders scrambling for new funding and mentorship in a lukewarm fundraising climate.

Crucially, that included the loss of the programme’s Global Talent Visa scheme. Foreign talent is a crucial pillar for many tech companies. The ongoing digital skills gap has left many employers struggling to find job-ready talent to ensure they can keep up with the business world’s rapid digital transformation.

Complex application processes and Right to Work checks introduced post-Brexit have already dissuaded many of the top workers and their families from moving to the UK, forcing companies to scale back ambitious plans.

Despite the Global Talent visa returning in October 2023, issues with the tech talent gap once again worsened last month when stringent new visa regulations were introduced.

As a result of the minimum salary requirement for a skilled worker from overseas being raised to £38,000, hiring from abroad will become unaffordable for cash-poor startup bank accounts.

These struggles have compounded in today’s poor economy. Like many sectors, rising inflation has squeezed profit margins at tech companies and investor confidence, leaving innovative startups that are seeking funding particularly vulnerable.

Could AI show Old Street to the right exit?

Time will tell if the new Old Street roundabout lives up to the hype, or remains a symbol of a project gone off the rails. Local firms have become used to assurances that the roundabout will be “opening soon”, and the current delivery deadline of early 2024 is suitably vague.

Still, that Old Street roundabout is due to open at all puts it leagues ahead of HS2. The revamped roundabout features safer cycling lanes and improved traffic flow, perhaps signalling that UK tech is on a better track this year.

The sector is now setting its sights on a new frontier: becoming a global leader in AI startups. AI emerged as one of the most exciting areas of technological innovation in 2023, with both companies and employees embracing artificial intelligence this year.

Prime Minister Rishi Sunak backed policies to support the safe and responsible development of the technology during the global AI safety summit, held in November, as a way to accelerate the UK’s ambition of becoming a science and technology superpower by 2030.

It may not have gone smoothly so far. But with continued government support, Old Street’s tech ecosystem is well-positioned to establish itself in the developing world of AI startups.

After the trials of last year, is there hope on the horizon for tech in 2024? Who knows. But as any entrepreneur will tell you, when it comes to business, it’s all swings and roundabouts.

Today’s tumultuous economy, and government efforts to trigger growth, have led to SMEs becoming bogged down by bewildering tax information.

Research from Startups.co.uk has found that UK businesses are being buried beneath a mountain of legislation updates. As a result, they are finding it difficult to access clear and accurate information on business tax rules and regulation.

In a survey of 564 businesses, 15% named tax as the most difficult topic to access information on, over cybersecurity (10%) and gaining funding (13%).

The findings come ahead of a series of changes that will impact tax returns and employee payroll in 2024. We outline what businesses and sole traders need to know, as well as the key decisions they should make to ready your business for the new rules.

January 2024

1. Side Hustle Tax

Digital platforms are now able to share user information directly with HMRC as of January 1 2024, in an effort to cut down on tax evasion being dubbed the ‘Side Hustle Tax’

Anyone using recognised digital platforms such as Etsy or Amazon to generate a side income will find that HMRC now has instant access to your bank account and bank details. HMRC will use this information to monitor if you are paying the correct amount of tax.

What do I need to do? The threshold for action is set at earning more than £1,000 in your side hustle. If you are earning more than this amount per year, you must register as self-employed and file a self-assessment tax return at the end of the financial year.

2. National Insurance Contributions (NIC) for employees

The National Insurance rate is being reduced from 12% to 10% for employees on 6 January 2024. It will stay at this level in the 2023/2024 tax year.

What do I need to do? Employers do not need to do anything to prepare – NIC will be automatically deducted by accounting software.

April 2024

1. National Insurance Contributions (NIC) for self-employed

Self-employed Class 2 National Insurance contributions (currently £3.45 a week for those earning over £12,570 per year) will be scrapped in April 2024, saving sole traders around £179.40 a year.

What do I need to do? Self-employed workers need to pay NIC for at least ten years to claim the full state pension. You may wish to make voluntary contributions to ensure you can still qualify.

2. Income Tax

In November’s Autumn Statement, the government announced that the tax-free personal allowance on income will remain frozen at £12,570 until 2028. However, inflation means the nominal value of profits from a side gig could rise, even if the real value stays the same.

As a result, more side hustlers will likely have to start paying tax and pay higher rates of tax, increasing their overall tax bill.

What do I need to do? Sole traders should create a cash flow forecast to determine what their personal income will be in 2024. If it is over £12,570, you will need to begin factoring in the impact of income tax payments to overall profits.

3. National Minimum Wage increase

In April, the national minimum wage (NMW) will be raised to £11.44 per hour for workers aged 21 and over. Younger employees, and those on an apprenticeship wage, will also see their pay boosted as a result of the changes.

Based on the new rates, a full-time 23 year-old employee contracted to work 37.5 hours per week will be paid around £22,308 per year, pre-tax. That’s compared to an apprentice, who would receive an annual salary of £12,480, pre-tax.

What do I need to do? Conduct a cash flow forecast to calculate how the increased labour costs will impact your overheads. With the NMW adjusting, now is a good time to analyse your company payroll and check if you are offering a competitive wage to staff.

4. Capital Gains Tax

Capital Gains Tax (CGT) is a tax on the profit you make when you dispose of a business asset. In April 2024, the CGT allowance will be slashed to a yearly total of £3,000.

Businesses only pay CGT if they make a profit. That means, come April 2024, if you sell your asset for a profit of under £3,000, you’ll pay no tax on the sale.

What do I need to do? consider the sale of business assets in 2024. It could be a good time to make some extra cash on the side if your company is struggling financially. For complicated sales, don’t hesitate to consult a financial advisor or accountant.

The UK’s newfound love affair with cheap small business ideas has stepped up considerably this month, as workers seek to top up their bank balance in time for the Christmas period.

According to a survey of 2,000 British adults from GoDaddy, 41% of us plan to launch a side gig this holiday season. The overwhelming majority of respondents cite the ongoing cost of living crisis and rise in inflation as the main driver behind their plans.

58% of aspiring founders expect to generate up to £500 with their venture, creating a sizable budget for the Christmas food shop and gift-buying. We explore the top simple side hustle ideas to deck your wallet this December.

Crafty thinking

When thinking of ideas for a side hustle, monetising your hobby or skill is a good place to start. GoDaddy’s data finds that 57% of side hustlers intend to sell hand-made products as part of their business model.

Specifically, this group is aiming to make and sell festive decorations, arts, and toys, launching their very own Santa’s workshop from the comfort of their own home.

Meanwhile, 19% will sell personal care and salon services such as festive makeup and nails, setting them up to capitalise as the era of the office Christmas party begins.

Even more cannily, 12% of respondents said they will sell pet care and services. Pet-related services such as dog walking or cat sitting tend to become more popular over the holiday break as people search for cheap carers while they are away from the home.

‘Tis the season to start a business

Starting a business at Christmas time might seem counterintuitive. After all, most of us dream of putting our feet up at the end of December, and relaxing around the bank holidays.

Yet it seems entrepreneurial spirit has won over festive in the UK, with more of us taking advantage of convenient business models like dropshipping to generate a passive income throughout the month.

Chris Simmons is one of those seasonal entrepreneurs, having started the sustainable company, Eco Christmas Trees as a side hustle last year. The business allows customers to rent a pot grown tree, and return it to the farm for future festive celebrations.

“My wife’s family owns and runs the farm on which we grow the Christmas trees, and I am a golf caddie full-time,” reveals Simmons.

“We started the business out of a desire to help reduce Christmas waste, it has become a useful source of additional income, especially since we set up our online store and have started building our customer base.”

Jingle all the way to success

December’s spike in side hustles rounds off a booming year for part-time entrepreneurs that looks set to continue next year. Indeed, 57% of the GoDaddy say they will reopen their festive side hustle in 2024, if it performs well this year.

Thousands of us, from student sellers to rural retailers, have leapt onto the benefits that running an online shop can bring, such as reduced overheads and a simplified set up.

Andrew Gradon is Head of GoDaddy UK & Ireland. Gradon notes the advantages that internet selling has for those looking to make a quick dime online.

“Launching a festive side hustle with a website gives small businesses a chance to make the most of holiday-spending,” he says. “Selling online enables them to market their products and services quicker.”

Gradon lauds the positive impact that this new business population could have on the UK’s growth and recovery in 2024. “After all, microbusinesses are the engine of the British economy. When they thrive, we all do,” he concludes.

UK businesses are under new payroll pressures following the announcement of a boosted national minimum wage next year. But the news brings positives for apprentices, who will gain the most from the planned increase.

Apprentices will see a huge pay bump of 21.2% when the new wage rates come into force next April, as the government endorses learning at work instead of university.

In the midst of a talent crisis, UK firms have struggled to find skilled workers who can fill hiring gaps. Many have resorted to inflating pay as a result, jeopardising cash flow.

For businesses worried about increased costs the incoming rates signal an opportunity to attract job-ready talent at a lower cost than employing new graduates.

New minimum wage

The increase to the National Living Wage – the formal name for the minimum wage – was announced last month, ahead of the government’s Autumn Statement.

Easily the biggest jump in salary has been for apprentices. Previously, those studying an apprenticeship course have accepted a marked decrease in hourly wages in return for learning new skills that guarantee a job.

Next spring, that is set to change. Apprentices are amongst those workers who will receive the biggest pay increase come April, with their average hourly wage rising by a massive 21.2% between 2024 and 2023 – twice the rate of inflation during the same period.

Younger workers will also benefit from the wage uplift. Next April, 21 and 22-year-olds, who currently earn £10.18 an hour, will have their pay matched with over 23s for the first time, up to £11.44 per hour for both age groups.

Nonetheless, the low cost of employing an apprentice over a graduate (typically aged 21 and over) should provide food for thought for SMEs.

Based on the new rates, a full-time 23 year-old employee contracted to work 37.5 hours per week will be paid around £22,308 per year, pre-tax. That’s compared to an apprentice, who would receive an annual salary of £12,480, pre-tax.

Government backs apprenticeships over university

The new minimum wage hike provides a glimmer of hope for young people. Students, in particular, have been disproportionately hit by the rising cost of living, with many forced to work alongside full-time study to settle rent and grocery payments.

But the new rates are also a thumbs up from the government for apprenticeship and training courses, which have previously been viewed as poorly paid in comparison to graduate roles.

The subtext is clear. Higher pay will incentivise school leavers to choose apprenticeships over unpaid university courses, and give businesses a greater pool of job-ready talent to choose from.

Indeed, the tide is turning, as employers come to view skills learned on the job as more valuable than those taught in the classroom.

This is backed up by a similar Multiverse report, which found that 70% of senior leaders think the current higher education system is leaving graduates underprepared for the workforce, causing Gen Zers to experience early onset career regret.

Businesses lambast pay boost

Business owners have expressed dismay at the updated minimum wage, which comes amid an economic crisis that has forced them to rely on personal savings. Some have even had to take on debt to stay afloat.

UK salaries have surged by record levels this year as entrepreneurs compete for talent. Smaller companies have struggled to keep up. This group tends to have smaller cash reserves to rely on, and are often most susceptible to the impacts of a higher national wage.

They may also have less flexibility to absorb the increased labour costs and need to make drastic changes to their operations to maintain profitability, such as cutting staff hours or making redundancies.

However, even large firms have reported that the cost increase will make their current headcount and pricing strategy untenable.

Electronics superstore Currys accused the government of failing to understand or care about retailers following the announcement. Meanwhile, leisure operator Hollywood Bowl are two major UK chains that have reported they will be unable to afford the wage increase for staff.

Chief executive Stephen Burns said the firm may need to raise prices next year to cover a “quite painful” increase, which he claims will cost the company about £600,000 in the second half of the current financial year, and £1.2m on an annual basis.

Benefits of apprenticeships

While an increase in cost, the change in minimum wage represents a significant opportunity for small businesses seeking cheaper ways to source skilled labour.

Analysis by apprenticeship provider Multiverse finds that apprentices have contributed over half a billion pounds in cost savings for SMEs.

Largely, this is due to lowered staff turnover. 93% of trainees remain at a company once qualified, on average, saving thousands in avoided hiring and onboarding fees.

The benefits go both ways. Far from “low-value”, apprenticeships offer equivalent qualifications (undergraduate or masters) in three to six years, while plugging business skill gaps and building a ready talent pipeline.

Trainees who are earning throughout will also avoid the tuition burdens faced by today’s graduates, which have left many uni leavers disappointed with their starting salary.

The same Multiverse report recently found that the average apprentice now earns around £28,000 a year, compared to £25,000 a year for the typical undergraduate.

As a result of shifting attitudes towards university degrees, prime minister Rishi Sunak –  who studied Philosophy, Politics and Economics at Oxford University – called for a crackdown on so-called “rip-off” university degrees that cause both employer and employee to lose out.

Under the plans, the Office for Students (OfS) will restrict the number of places on courses that do not lead to what it terms “good jobs” for the economy. This will encourage young people to start an apprenticeship as a more financially-viable option to university.

Interested in taking on an apprentice? Read our guide for expert advice on how to navigate the process of finding, employing, and managing an apprentice.

The UK Government is ushering in a positive change in employment and wages, especially for the younger workforce. 

This development happens annually on 1 April of each year and stems from recommendations by the Low Pay Commission (LPC) who are dedicated to protecting the wages and living standards of the lowest-paid workers. 

Let’s delve into the details and understand what this means for this youngest working demographic.

What’s changing?

From April 2024, the minimum wage is poised to increase to £11.44 per hour for workers over the age of 21.

This amounts to a 12.4% for over-21s which is a £1,800 raise for full-time workers, and a 9.8% increase for over-23s which is an annual £1,989 raise for full-time workers on average.

An estimated 2.7 million individuals will benefit from this boost, signifying the most substantial increment in the national minimum wage to date. This will be the largest-ever increase in the minimum wage in cash terms, as it is the first time it has increased by more than £1.

The figures: who’s affected?

Minimum vs living wage: who qualifies?

The national minimum wage is the minimum pay per hour almost all workers are entitled to no matter what living, studying or working conditions they are in – while the national living wage is something workers get if they’re over 23, and relates to the estimated costs of living. 

It does not matter how small an employer is, they still have to pay the correct minimum wage, and contracts for payments below the minimum wage are not legally binding. This includes if you’re only working part-time, hired for even just one day, or an apprentice over the age of 19. 

The outside-London UK Living Wage is set at £12 per hour, while the London Living Wage stands at £13.15 per hour. Annually calculated by the Resolution Foundation and supervised by the Living Wage Commission, these figures are derived from the most reliable evidence reflecting living standards in the UK and London.

Exclusions and exceptions

The national minimum wage doesn’t encompass the self-employed, voluntary workers, or family members contributing to household chores within their shared residence and employment.

Discrepancies and the real living wage

While this hike is commendable, Katherine Chapman of the Real Living Wage Foundation comments:

“A rise in the statutory national minimum wage from next April is welcome news for low-paid workers, but it still falls short of the voluntary real Living Wage, which is £12 per hour in the UK and £13.15 per hour for workers in London. 

Despite tough economic times, it has been heartening to see record numbers of businesses join our movement, and we’d encourage other organisations who can, to make the Living Wage commitment too.”

The upcoming minimum wage increase carries with it both promise and debate. While it sets a new benchmark, it also raises questions about closing the gap between statutory minimums and the true cost of living.

As April 2024 approaches, this wage boost paints a promising picture for young workers. This will not only impact individuals’ pockets but also potentially reshape the employment landscape, making it imperative for businesses and organisations to adapt to these changes for a more fair and equitable workforce.

With the aim to uplift living standards and provide a more sustainable income, this increase signifies a step towards financial empowerment for a significant portion of the workforce in the UK.

Your company name is the backbone of your business, making it one of the most important steps of launching a new enterprise. From Amazon to Zoopla, the art of finding that perfect title that reflects your USP, sector, and purpose demands a lot of attention.

To get it right, entrepreneurs are increasingly turning to AI business name generators. The allure is obvious. Rather than sweating over an Excel sheet, users simply type in a word or phrase and watch dozens of fully-formed, business name ideas roll in.

But, like any Artificial Intelligence, the consequences of this ease and convenience are not fully known. It’s crucial for entrepreneurs to research the top extensions and platforms carefully to ensure their new idea won’t have an instant black mark alongside it.

Below, we’ll list the top AI company name generators available for free, and explain how to legally register your new business bundle of joy.

Best free AI business name generators

We’ve conducted thorough research of the most popular AI company name generators to arrive at a list of the top options, and where they perform best. Scroll down for the full breakdown:

1. Hostinger by Zyro – Best for ecommerce businesses

The Hostinger AI business name generator by Zyro is a fantastic option for those wanting to start an ecommerce firm, as it also gives users the chance to purchase a website domain name alongside their selected business title.

Simply type a few keywords associated with your idea into the search bar, and Hostinger will come up with a list of catchy phrases to choose from plus the option for you to set up an online store in just a few clicks.

Here’s what search results Hostinger returned for the descriptive terms: “Gen Z, Fashion, and Upcycled”:

Image credit: https://www.hostinger.com/business-name-generator

2. Brandcrowd – best for business logos

Brandcrowd is a business card printer and logo design firm. As a result, its AI business name generator is here to ensure your newborn’s name looks, as well as sounds, good.

Alongside a label for your business, you’ll also get to see what the name looks like displayed in various colours and styles, providing a visual interpretation of your favourite title.

Here’s what search results BrandCrowd returned for the descriptive terms: “Gen Z, Textiles, Fashion, Marketplace, and Upcycled”:

Image credit: https://www.brandcrowd.com/business-name-generator

3. Namelix – best for trending business names

As the only dedicated app for AI company name generation on this list, Namelix provides plenty of customisable elements to help you arrive at a name that emulates the biggest branding trends of today.

On top of a business description, users can also prompt Namelix to offer them a variety of stylistic choices including alternative spellings (like UniTaskr) and compound names (like EasyJet).

Here’s what search results Namelix returned for the descriptive terms: “Gen Z, Fashion, Marketplace, and Upcycled”:

Image credit: https://namelix.com/app

4. Hootsuite – best for customisable element:

Want something a bit different for your new business? How about something spooky for Halloween? Or something that sounds more professional and formal?

Hootsuite’s free AI business name generator has a long list of custom fields to help entrepreneurs decide on a top-tier tag. From ‘playful’ to ‘techy’, Hootsuite gives users a full dressing up box for you to clothe your business name in whatever style you fancy.

Here’s the custom form that allows Hootsuite users to tailor their business name search based on tone, language, category, business description, and audience description:

Image credit: https://www.hootsuite.com/en-gb/social-media-tools/ai-business-name-generator

5. Looka – best for number of results

Sometimes you just need to scroll through endless options to find what you’re really looking for. The Looka platform is the ideal baby name book for indecisive business owners.

It gave us no fewer than 60 options for our search keywords. All of these were also arranged into helpful illustrative categories like ‘dynamic’ and ‘modern’ to help us sift through the list.

Here’s the business names that Looka suggested based on our descriptive terms: “GenZ, Fashion, and Upcycled” and the adjectives “dynamic, innovative, and edgy”:

Image credit: https://looka.com/business-name-generator

How to register your business name

Once you have arrived at a business name, companies should use the government’s Company Name Availability Checker to ensure that their selected label is not already taken.

This is a key step, particularly given the current wave of new businesses that are being registered in the UK.

Digital agency Koozai, analysed the latest records from the Office of National Statistics of businesses registered with Companies House. It found that 202,130 new businesses were set up in the UK in the first 12 weeks of 2023. That’s a year-on-year rise of 6.5%.

Microbusinesses, such as those running a side hustle, might choose to skip this step. That’s because, if you’re a sole trader, registering a business name isn’t actually compulsory – unlike applying for self-assessment with HMRC.

But if you’re launching a private limited company, you are legally required to register a business name on GOV.UK. There are incentives for doing so. Registered companies will find it easier to claim tax relief, and also shield their brand from copyright claims.

AI business name generators: what are the legal risks?

Using a business name generator is a great way to get off the ground with your first entrepreneurial idea. However, there can also be risks associated with using an AI tool to develop key materials for brand identity.

This is particularly true if you are planning to apply for a trademark. Trademarks are a legally-recognised piece of intellectual property that identifies products or services from a particular source and distinguishes the goods of one enterprise from another.

Given that AI name generators tools ‘scrape’ existing content on the internet to come up with their suggestions, there is a risk that you could be sued if you are found to have used trademarked phrases or elements in the name.

If a company owns a trademarked logo or slogan, they have a right to take legal action if someone imitates the design (known as trademark infringement). This can be a costly and time-consuming legal battle, even if you didn’t intentionally copy the trademark.

Even if the AI-generated name is not identical to a trademark, it could still be guilty of trademark dilution, which means it is too similar to a famous mark and may cause confusion among consumers. This could also lead to legal action.

How to navigate the AI trademark minefield

To defend your business from the above risks, it is essential to conduct a thorough trademark search on the GOV.UK before using an AI business name generator.

This will help ensure that your chosen name is not already in use and that it is unlikely to infringe on any existing trademarks. To be extra sure, you may even wish to consult with an attorney to review any AI-generated names and assess the legal risks associated with them.

Here are some additional tips for using AI business name generators safely:

• Use a reputable AI business name generator that has a good reputation for generating unique and legally compliant names
• Write a clear and specific AI prompt for the generator, including relevant keywords, industry-specific terms, and brand attributes
• Use the generator as a jumping off point – remember, you can always tweak any monikers to make them more unique

Once you have arrived at a mind-blowing business name, it’s time to design your business website. Check out our guide to building a website in minutes with AI

For today’s businesses, particularly those which operate remotely, business communication tools have been a lifeline for keeping workers connected and clients in the loop.

But our ability to send a work email from anywhere, and at any time, has also narrowed the gap between home and office. Push notifications, sent even when an application is not open, mean employees feel they now have no excuse to not answer the phone – and this always-on culture is contributing to a marked rise in staff burnout.

For some sectors or job types, notifications are necessary. But setting your own boundaries on out-of-hours work is crucial to avoid a toxic work culture.

Below, we explain how to change the settings on the popular apps such as Slack and Gmail, so you, and your tech, can switch off and recharge.

1. Slack

Instant messaging tool, Slack has become the new staple of many offices this year, thanks to its informal tone that makes it easy to instantly chat and collaborate with colleagues.

However, a more relaxed approach to contact has also made it more difficult for Slack users to differentiate between personal and professional comms.

Luckily, Slack has made it simple for staff to go as AWOL as they’d like outside of work hours. To temporarily silence push notifications for specific times on the app, users can simply set up a dedicated Do Not Disturb (DND) schedule. Here’s how:

• Navigate to Preferences > Notifications and scroll to ‘Notification schedule’
• Select the days of the week for which you want it to apply
• Choose the start and end times for the DND period. This will then be automatically updated (there’s no need to click ‘Save’)

During this time, you’ll receive no push notifications from Slack, regardless of the channel used. Once the DND period ends, you’ll resume receiving push notifications as usual.

2. Microsoft Teams and Zoom

Microsoft Teams and Zoom emerged as the leading video conferencing platforms post-COVID, gaining widespread adoption among businesses worldwide.

However, these platforms can also contribute to an erosion of work-life balance. The constant stream of notifications, messages, and alerts can keep employees in a state of hyper-vigilance, making it difficult for people to wind-down after hours.

Turn off push notifications for Microsoft Teams

To unplug from Microsoft Teams for a specific amount of time, you can utilise the “Quiet Time” feature. This scheduled setting can be set up in just three steps:

• Open the Teams app and tap on your profile picture
• Go to Notifications > Block notifications > During quiet time
• Turn on ‘Certain hours’ to select which hours of the day to silence notifications
• OR turn on ‘All Day’ to select which days of the week to silence notifications

Turn off push notifications for Zoom

To turn off push notifications on Zoom for a specific amount of time, you can use the app’s specialist Do Not Disturb feature. Here are four steps to set it up:

• Open the Zoom app and tap on your profile picture
• Select ‘Settings’ then ‘Chat’
• Scroll down to the ‘Push notifications’ option
• Set the start and end times for when you want to be on Do Not Disturb

While your Zoom account is set to DND, the app will not send you any reminders or alerts relating to a remote call – even for meetings that are scheduled to start.

If you have an urgent need to receive notifications for a specific meeting, you can still do so by adding the meeting to your calendar. You will then be able to receive notifications about the meeting from your calendar app, not Zoom.

3. Business mobiles

We’ve explained how you can turn off push notifications on certain apps. But perhaps the worst enabler for always on office culture is business mobile phones.

For apps that don’t come with a built-in feature to schedule push notifications, most mobile devices do come with a workaround you can use instead.

Turn off notifications on iPhones

Those with an iPhone have two ways to turn off notifications for a specific amount of time; the Do Not Disturb feature or scheduling a notification summary.

The former turns off push notifications for a specific amount of time, while notification summary delivers a single notification containing all your notifications from a group of apps at a specified time.

• Go to: Settings > Focus > Do Not Disturb > Schedule to set the start and end times for when you want Do Not Disturb to be on
• Go to: Settings > Notifications > Scheduled Summary to set the start and end times for the summary. Add the apps you want included, and click ‘Done’

You can also customise the notification settings for individual apps. For example, you can choose which types of notifications to allow, such as banners, sounds, and badges.

Turn off notifications on Android phones

To turn off push notifications on an Android device, you can either set up a schedule to disable notifications for all apps, or turn off specific apps.

1. Disabling push notifications for all apps:

Go to Settings > Notifications > Do Not Disturb > Schedules. Click on ‘Add more’ to create a new schedule, and then select ‘Time’ to edit the days and times you want the setting to apply.

2. Disabling push notifications for specific apps:

Go to Settings > Notifications > App settings. Scroll down and find the app you want to disable notifications for. Toggle the switches and disable them to the off position.

This will disable the selected notification types for the selected app. You can also adjust the settings for each notification type, such as the sound, vibration, and LED light.

Check out our guide to the top collaboration tools for small businesses that enable remote working teams to work better together.

The latest report from The Insolvency Service reveals a staggering 21% spike in company insolvencies in November 2023 compared to the same period in 2022. The surge follows a challenging series of years marked by the COVID-19 pandemic, a cost of living crisis, and rapid inflation, which have collectively triggered a wave of businesses entering administration.

In November alone, a concerning 2,466 companies registered for insolvency, surpassing levels last seen during the government’s support measures in response to the pandemic.

All in all, 359 compulsory liquidations, 1,962 creditors’ voluntary liquidations (CVLs), 133 administrations, and 12 company voluntary arrangements (CVAs) were reported for this period.

Industry comment

Jeremy Whiteson, a Restructuring and Insolvency Partner at Fladgate, delved into these concerning figures. 

The data indicates a restrained use of administration and other rescue procedures, with Whiteson suggesting a broader impact of the challenges facing businesses, such as high borrowing costs, limited equity funding, tight labour markets, uncertainties in fuel and commodity prices, Brexit-related import/export difficulties, geopolitical uncertainty, and the aftermath of pandemic closures. 

He notes, “After this ‘death by a thousand cuts’, many companies may have no business left to save.”

Whiteson highlights the surge in CVLs in particular, attributing 80% of the total insolvencies to this procedure. 

CVLs, often adopted by companies with negligible business or assets, surged by 23% compared to the previous year and rose by 4% from the prior month. Often used by companies with no remaining business or material assets, CVLs are a procedure that signals significant financial challenges.

SOS signals going unheard

Fewer and fewer companies are using procedures meant to rescue their struggling businesses. Traditional methods of rescue are arguably not as effective as they used to be, in part due to challenges like increased formalities and higher costs linked to insolvency processes. 

Specifically, practices like pre-pack administrations – which previously helped small and medium-sized businesses – have faced financial obstacles that made it difficult for businesses to benefit from them. 

As a result, companies have recently been finding it much harder to navigate financial trouble and salvage their operations.

The battle between two of the world’s largest budget ecommerce and dropshipping companies, Temu and Shein has escalated this week. Temus has filed a fresh lawsuit against Shein for supposed anticompetitive conduct on Wednesday evening.

In a 100-page complaint document, Temu describes a range of unlawful actions undertaken by Shein. The firm alleges that Shein used “Mafia-style” tactics to coerce its merchants, which include Amazon sellers, into severing ties.

The latest complaint comes after Temu filed a separate lawsuit against Shein in July. At the time, both parties voluntarily dismissed the case against one another. Now, Temu claims that Shein’s anti-competitive behaviour has intensified.

Shein and Temu: rivalry explained

Both Shein and Temu are major ecommerce businesses based in China. While Shein has made a name for itself offering cheap, low-quality clothes and dresses for under £10, Temu’s marketplace is more diverse and stocks a wide range of household products.

The two behemoths have been competing to dominate the quickcommerce market since Temu first arrived onto the scene in 2022. Both brands have already cemented themselves in UK shopping carts.

Shein, which first launched back in 2008, still reigns supreme for Brits. Research from GlobalData shows it became one of the top 10 apparel firm’s in the country by market share in 2023, reaching a market share of 2.2%.

But Temu is catching up. In September this year, the firm maintained a five-month streak as the number one mobile shopping app by downloads in the UK, according to data insight platform, data.ai.

Temu tactics and Shein shiftiness

The Temu complaint alleges that Shein stole merchant accounts and passwords in order to jeopardise Temu’s growth in the US. Reuters reported in November that Temu accounted for nearly 17% of market share in the United States within the discount stores categories.

It also claims that Shein “falsely imprisoned” merchants who dealt with Temu, holding sales representatives in Shein’s offices for many hours and threatening them with penalties for doing business with Temu.

Temu has faced its own share of bad press, however. Reuters recently reported that Shein paid social media influencers to badmouth the company and created “imposter” accounts to push their app, tricking consumers into thinking that Shein and Temu are the same brand.

Should you use Temu or Shein for dropshipping?

Shein and Temu are two big names in stiff competition for the global dropshipping market. Their latest dispute raises questions about who will triumph in the PR war, and whether it will dissuade merchants from trading through the respective platforms.

According to the complaint document, “multiple suppliers have ceased doing business with Temu as a result of Shein’s intimidation tactics.”

Certainly, Temu poses a threat to Shein’s position as the jewel in the ecommerce crown. Ultra-low pricing is one of its biggest unique selling propositions. Products are sold at wholesale rates, allowing shoppers to access discounts of up to 90% off retail prices.

In a cost of living crisis, as consumers seek out low-cost items and businesses cheaper supply chain fees, it’s understandable why Shein may be growing wary.

This is part of the reason why the online giant has seen such impressive scale-up in the US, and suggests its UK market share could overtake Shein as soon as next year.

Dropshipping is one of the cheapest side hustles to start in 2024. Read our seven step guide to setting up a dropshipping firm.