For many small and medium-sized enterprises (SMEs), the core business keeps the lights on, but additional income streams can provide much-needed stability and growth. Whether you're a service provider, a retailer, or run a niche consultancy, diversifying your revenue can cushion seasonal dips, economic shocks, or customer churn. Here are some practical ways to bring in extra income without straying too far from your core business.

Offer Online Courses or Webinars

If you’ve got specialist knowledge, turn it into a digital product. Creating online courses or hosting webinars allows you to monetise what you already know. This works particularly well for consultants, tradespeople, or niche service providers. Platforms like Teachable or Thinkific make setup relatively easy.

Introduce Subscription Services

Subscription models work for more than just magazines. If you sell products, consider offering a monthly bundle or repeat-order service. If you’re in a service industry, a retainer model or premium membership can offer exclusive content, support, or discounts to subscribers.

Rent Out Equipment or Space

Do you have tools, machinery, or office space that sits idle some of the time? Renting these out, even on an occasional basis, can generate passive income. This is especially useful for creative or construction businesses that own specialist gear.

Sell Branded Merchandise

If you’ve built a recognisable brand, merchandise could be a low-effort income stream. Think branded mugs, notebooks, tote bags, or even digital downloads like planners or templates. Print-on-demand services mean you don’t need to hold stock.

Affiliate Marketing or Product Referrals

If you already have a mailing list or online presence, recommending relevant products or services could bring in commission. Just ensure the partnerships are relevant and credible to maintain trust with your audience.

Create a Paid Newsletter or Exclusive Content Channel

If your business produces insights or useful information, consider launching a paid newsletter or members-only blog. Tools like Substack or Patreon allow you to test this with minimal upfront cost.

Offer Freelance or Consulting Services

If your business has a quiet season, consider offering your skills on a freelance basis. This works well for design, IT, marketing, or finance professionals looking to supplement core revenue.

Need help tailoring any of these ideas for your business? Call now so we can discuss your options.

For many small business owners, getting access to funding feels like trying to squeeze water from a stone. Traditional banks have always been a bit cautious when it comes to lending to smaller enterprises, but over the past few years, it’s become even tougher. With the economic uncertainty lingering after Brexit, COVID-19, and a volatile global market, lenders are now scrutinising applications more closely than ever.

Many businesses face a chicken-and-egg situation. They need funding to grow, but without strong turnover or solid security (like property), banks are reluctant to say yes. Even successful businesses often find they don't meet the banks' ‘tick box’ criteria, especially if they are newer or operate in sectors seen as high risk.

Alternative finance options have grown significantly. Crowdfunding platforms, peer-to-peer lending, and invoice financing are now on the table for small businesses. There are even government-backed schemes, like the British Business Bank's programmes, which can help. But many business owners are unsure about how these work or are wary of taking on unfamiliar debt.

Another challenge is the cost. Interest rates have risen sharply, meaning borrowing is far more expensive than it was just a couple of years ago. What might have been a manageable loan repayment in 2020 could now be uncomfortably high.

Grants do exist, but they are often highly competitive, sector-specific, or tied to innovation and sustainability projects. Day-to-day businesses just trying to expand their premises, hire staff, or invest in new equipment can feel left out.

Navigating the funding landscape requires time, research, and often professional advice. Some businesses are turning to financial brokers to find the best options, but this comes with its own costs and risks. Others are choosing to grow slowly, using retained profits rather than borrowing at all.

At the end of the day, access to funding remains a major barrier to scaling up for many UK small businesses. Without new sources of finance, many will simply tread water instead of reaching their potential.

Cybersecurity might sound like something only big corporations need to worry about, but in truth, small businesses are increasingly in the firing line. In fact, many cyber criminals deliberately target smaller firms, knowing they often lack the resources and expertise to protect themselves properly.

The most common threat is phishing. These are fake emails that look convincing, aiming to trick you or your employees into giving away passwords, payment details, or sensitive company data. Ransomware is another growing problem — hackers encrypt your files and demand payment to unlock them. For a small business, losing access to critical data can be absolutely devastating.

One major risk area is the use of outdated software. If your computers, point-of-sale systems, or even your website platform aren't regularly updated, they can become easy entry points for hackers. Even something as simple as using weak passwords or not backing up data can create big vulnerabilities.

There’s also the reputational damage to think about. If a customer’s personal information gets leaked because of a cyber-attack, trust is hard to rebuild. For businesses that rely heavily on loyal clients and word-of-mouth referrals, a breach could be disastrous.

Many small businesses wrongly assume they can’t afford cybersecurity. But basic protections don’t have to cost the earth. Regularly updating systems, training staff to recognise dodgy emails, using multi-factor authentication, and investing in reliable antivirus software are all relatively low-cost measures that can offer significant protection.

Cyber insurance is another option that more small businesses are exploring. Policies vary, but good cover can help with the financial hit if the worst happens and often includes access to expert help to get you back up and running.

The Government’s Cyber Essentials scheme is also worth looking at. It’s a certification that shows you take cybersecurity seriously, and it can even help you win contracts, particularly with larger companies or public sector work.

Ultimately, cybersecurity is no longer a ‘nice to have’ — it’s as essential as locking your front door at night. A little investment of time and money now can save an awful lot of heartache and cost down the line.

The UK’s Business and Trade Secretary, Jonathan Reynolds, has set out the government's position following the United States' recent imposition of new tariffs on UK exports. These include a 10% reciprocal tariff on British goods and a separate 25% global tariff on cars — moves that have prompted concern among UK manufacturers and exporters.

Reynolds told Parliament he was disappointed by the decision, particularly given the close trading relationship between the two countries. While the US has already imposed a 25% tariff on steel, aluminium, and related products since March, the latest action extends the economic pressure and signals a hardening stance from Washington.

Despite the setback, the Trade Secretary struck a calm and constructive tone, saying the UK will continue to act in the national interest while standing behind domestic industries. He confirmed that UK officials are in ongoing talks with key figures in the US administration, including the Secretary of Commerce and the US Trade Representative, in an effort to rebuild a more stable and mutually beneficial trading relationship.

Reynolds was clear that the government is not seeking to inflame tensions but is preparing for all eventualities. A new public consultation has been launched, inviting businesses and stakeholders to give their views on the impact of the tariffs and to suggest potential UK responses. The consultation runs until 1 May and aims to ensure that any future action is well-informed and proportionate.

The government has also committed to helping businesses navigate the situation, offering guidance through its trade support services and encouraging firms to share their concerns. Reynolds noted that many UK companies still see strong opportunities in US-UK trade and want to preserve access to the world’s largest economy.

He ended by affirming the government’s wider strategy to promote economic resilience through industrial growth, international cooperation, and fair trading practices. The message from the Department for Business and Trade is that while the tariffs are unwelcome, the UK remains focused on protecting its interests without resorting to knee-jerk reactions.

In short, the UK is taking a pragmatic, level-headed approach — defending its industries, listening to businesses, and working to keep trade channels open, even in challenging circumstances.

The UK government has announced a record-breaking £13.9 billion in research and development (R&D) funding for the coming year. This major investment is designed to drive innovation, create quality jobs, and support long-term economic growth across the country.

A large share of the funding, amounting to £8.8 billion, has been allocated to UK Research and Innovation (UKRI), which supports the UK’s leading scientific and technological projects. This funding will help deliver groundbreaking work across multiple sectors including life sciences, clean energy, and advanced engineering.

One of the headline projects includes research into new blood tests aimed at detecting dementia earlier. With nearly a million people in the UK affected by the condition, early diagnosis could make a big difference to treatment outcomes and overall quality of life. It would also help reduce pressure on health and care services.

Another key area of investment is renewable energy. The government is continuing its support for the construction of a new wind turbine test facility in Blyth, Northumberland. This project, which is receiving £86 million, is expected to boost the UK's capacity for clean energy development, support highly skilled local employment, and attract further private investment into the green economy.

The government sees this R&D investment as a central part of its broader 'Plan for Change', which aims to strengthen public services while encouraging economic opportunity and innovation. Officials believe that public investment in R&D often leads to a doubling of private sector investment over time. Evidence shows that businesses receiving R&D grant funding often experience more than 20 percent growth in both employment and turnover within six years.

Science and Technology Secretary Peter Kyle described the investment as a commitment to the future. He said innovation is central to solving society’s biggest challenges, from life-saving medical advances to tackling climate change. He also stressed that research and development plays a vital role in growing the economy and supporting public services across the UK.

This unprecedented level of funding shows that the UK is serious about its role as a global leader in science and technology. By supporting bold ideas and giving researchers the tools they need, the government hopes to unlock progress, create opportunity, and deliver real benefits for people and businesses throughout the country.