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A marketing strategy will help you identify your best customers, understand their needs and implement the most effective marketing methods.

The internet has transformed business marketing. No matter what you do, the internet is likely to be at the heart of your marketing strategy.

Social media is firmly established as a marketing tool. Having a presence opens up new lines of communication with existing and potential customers.

Good advertising puts the right marketing message in front of the right people at the right time, raising awareness of your business.

Customer care is at the heart of all successful companies. It can help you develop customer loyalty and improve relationships with your customers.

Sales bring in the money that enables your business to survive and grow. Your sales strategy will be driven by your sales objectives.

Market research exists to guide your business decisions by giving you insight into your market, competitors, products, marketing and your customers.

Direct marketing can be a highly successful way to generate sales from existing and new customers. Find out how to target them in the best way.

Exhibitions and events are valuable for businesses because they allow face-to-face communication and offer opportunities for networking.

PR

Favourable media coverage can bring a range of business benefits. But how do you attract the attention of editors, broadcasters and journalists?

Applications open for second SEISS grant

18 August 2020

Self-employed workers who have been financially affected by coronavirus can now apply for a second grant through the Self Employment Income Support Scheme.

Applications for the first SEISS grant closed on 13 July 2020. Self-employed workers can now make a claim for a second SEISS grant, even if they did not make a claim for the first grant.

This second and final taxable grant is worth 70% of average monthly trading profits, paid out in a single instalment covering three months' worth of profits. The grant is capped at £6,570. The first grant was based on 80% of trading profits and was capped at £7,500.

Applicants can continue to work while receiving the grant but they must be able to demonstrate that their business has been adversely affected by the pandemic on or after 14 July 2020. The final deadline for applying for this second grant is 19 October 2020.

Your business could be adversely affected by coronavirus if, for example:

  • You cannot work because you are shielding, self-isolating, on sick leave because of COVID-19 or you have caring responsibilities because of coronavirus;
  • You've had to scale down, temporarily stop trading or incurred additional costs because your supply chain has been interrupted, you have fewer or no customers, your staff can't come in to work, one or more of your contracts have been cancelled or you have had to buy protective equipment to keep trading.

To make a claim, all of the following must apply:

  • You traded in the 2018/19 tax year and submitted your Self Assessment tax return on or before 23 April 2020 for that year;
  • You traded in the 2019/20 tax year;
  • You intend to continue trading in the 2020/21 tax year.

You cannot claim the grant if you trade through a limited company or a trust. Your trading profits must be no more than £50,000. If you're not eligible based on the 2018 to 2019 Self Assessment tax return, HMRC will look at the tax years 2016 to 2017, 2017 to 2018, and 2018 to 2019.

Written by Rachel Miller.

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