Herald - Issue 389

Page 36 • The HERALD • 4th June 2020 v SUPPORTING YOUR LOCAL BUSINESSES v Xero Certified Advisors We can help with all Accountancy, Taxation and Payroll Matters for Sole Traders, Partnerships and Companies For a free initial meeting please call Tel: (023) 8084 4242 The Old School House, Claypits Lane, Dibden, Southampton SO45 5TN Email: dibden@numericaccounting.co.uk (FORMERLY STEPHENSON SHEPPARD & CO) ASK A PROFESSIONAL Saving money is a priority for many, particularly now as we feel the nancial impact of the coronavirus (COVID-19) crisis. Ahead of consumer awareness campaign, Smart Home Week 2020, here’s a few ways that smart tech can help you keep utility bills, and concerns over your nances, under control. You might think of smart home automation as a cool way to keep up with the latest technology, or an opportunity for tech-mad homeowners to show o , but it actually o ers some amazing and practical advantages too. During lockdown, the use of home appliances, such as dishwashers, TVs and ovens, has rocketed. is extra usage, according to price comparison website Comparethemarket.com, could lead to a 37 per cent rise in energy bills, pushing up household costs by £32.31 a month on average. At the same time, the Office for National Statistics (ONS) has released data showing that since lockdown came into e ect, just under half (45.8 per cent) of working adults are now home-based, while nearly one-in-four (22.9%) say that the global pandemic is a ecting their household nances. Depending on how you use smart-home technology, it’s possible to make your space more energy-e cient and in turn reduce costs. Lighten the load Smart LED bulbs, like those from Philips Hue, not only last a lot longer, but also use much less energy than incandescent light bulbs. According to e Energy Savings Trust, you can save up to £35 per year on your electricity bills by making the simple switch to LED. Smart lights can also be integrated with other gadgets, such as alarm systems, allowing you to enable visual alerts when the alarm is armed, The Smart Way to Save on Utility Bills While You’re at Home disarmed, or triggered, for greater peace of mind. Remote control Many of us don’t realise how much energy we’re actually using even when we don’t need it, regularly leaving all sorts of home appliances plugged in. We can save up to £80 a year by simply switching o electronics, rather than leaving them on standby. Did you know that even if you forget to turn o electronic devices, you can control the power of your outlets through a smart device? Using the schedule function that’s available with most smart plugs. Monitor your energy use A smart meter shows you how much energy you’re using in pounds and pence, while smart thermostats are available to give you maximum exibility when it comes to managing your heating. You can control the temperature of your home when you’re at work, outside exercising, or doing your weekly shop using your smartphone, tablet or laptop. For many people, it’s not just about saving money – using less energy is also about helping to tackle climate change. The nation’s awareness of the impact of carbon emissions is growing by the day, and many of us want to do something to stop it. Smart Home Week is returning for a third year, from 21st until 27th September , backed by a list of high-pro le sponsors from across the world of smart technology. e awareness campaign is designed to provide advice and information on the range of smart products available, cutting through the jargon, and making the smart home more accessible, as well as showcasing the best and latest developments in the smart home world to help you upgrade your existing ecosystem. For more information on Smart Home Week, or to sign up for the latest updates, head to www. smarthomeweek.co.uk Alternatively, check out @SmartHomeWeek on Twitter, and Facebook / SmartHomeWeek. Responding to the announcement that the Governmentisestablishinganewmicroloan scheme for small businesses, encompassing a 100% government guarantee on facilities worth up to £50,000 (capped at 25% of turnover) and a streamlined application process, Federation of Small Businesses (FSB) Development Manager for Hampshire, Dorset and Isle of Wight said: “To date, the existing interruption loan scheme has not been working for the small firms that make-up 99% of our business community. The decision by the Chancellor to listen to our recommendation for a 100% guarantee on smaller loans, alongside the creation of a new fast-track system for those applying for them, will give hope to thousands. The headline terms will be hugely welcomed by the sole traders and micro businesses that make-up 95% of the small business’s community. Removing the need to provide forecasts marks an important step forward – small firms cannot be expected to predict the future in this climate. From here, we need the right delivery. The new fast-track system must be established by next Monday with money delivered 24 hours after a successful application as promised. All those who have been declined a small coronavirus business interruption loan scheme (CBILS) facility should now be written to with the offer to re-apply via this new system. Those mid- way through a standard CBILS application should also be given the option to change tack. Many small businesses have had to pay March and April’s payroll, on top of other overheads, with no revenue coming in at all. The CBILS initiative was their only lifeline until job retention scheme payments kicked in. It has so far proved to be extremely difficult to access for the vast majority. Today’s announcement promises to change that fundamental lack of access to working capital. In the long-term, we need to protect the competition achieved in the small business lending market that so many have fought so hard to secure. At the end of this crisis, non-bank lenders are going to be key to economic recovery NEW MICRO BUSINESS LOANS WILL “GIVE HOPE TO THOUSANDS” as part of a thriving small business finance market that does not just rely on the big five banks. We look forward to working with the Government to ensure alternative lenders can play that vital role. Equally, the big banks must ensure they’re in a position to facilitate a large a number of small business loans. Some of their systems are already creaking under the strain, before this new system is brought in on top. Some lenders have been unable to facilitate such lending because they have not got their backroom operations in order. This issue requires urgent attention.”