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New business founder over the moon after pandemic forced career switch | Dumbarton and Vale of Leven Reporter

New business founder over the moon after pandemic forced career switch | Dumbarton and Vale of Leven Reporter
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Analysis: What the Budget means for Dorset

On the morning after, we look at some of the effects the Budget could have in Dorset.                                          HELP FOR HOSPITALITY AND RETAIL Dorset’s hospitality industry got some of the key concessions it asked for from the chancellor. The reduced five per cent VAT rate for hospitality and tourism will stay in place util September 30 and will then go up to 12.5 per cent before reaching its original 20 per cent next April. Alcohol duty will also stay as it is. For Andy Lennox, founder of the Wonky Table group that grew up to represent Dorset bars, restaurants and events companies in lockdown, that  was the key concession. “We’re standing here with shattered balance sheets, heavily in debt, with little to no cash reserves,” he said.

Hampshire businesses react to Rishi Sunak s budget

MANY more businesses face failure after the furlough scheme ends at the end of September, it has been claimed. Rishi Sunak’s second Budget yesterday set out a host of support measures including longer furlough, more help for the self-employed and a six-month extension to the reduced VAT rate for leisure and hospitality. Mike Pavitt, partner in the corporate restructuring and insolvency team at Southampton law firm Paris Smith, welcomed some of the measures but added: “For me, this Budget does not do enough to address the involuntary increase in corporate and personal debt which Covid has brought and which is a growing into a millstone against future recovery.”

Online marketplace Buy Britain launched in New Forest

AN ONLINE marketplace called Buy Britain has been launched by a New Forest businessman, aiming to create jobs, keep British skills alive and make it easy for people to find and support local businesses selling quality UK-made goods. As data suggests consumers are more likely to ‘buy British’ post Brexit, there is increased demand for both makers to sell and consumers to buy products made in the UK. BuyBritain.com has been set up, built and is run by Lymington-based entrepreneur Michael Oszmann. The selection of British-made products on the site is growing day with more than 300 quality products available.

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