Welcome to the MYCO Works Blog

A limited budget doesn’t have to hold back your ambitions. Even without big advertising campaigns or a full marketing team, you can still stand out and grow. With creativity, consistency, and smart use of free or low-cost tools, you can attract customers, strengthen your brand, and scale your business sustainably.

Here are some affordable marketing ideas to help you get started:

1. Use Social Media Strategically

Social media offers a quick, accessible way to boost visibility and connect with potential customers. Platforms like LinkedIn, Instagram, Facebook, and TikTok let you connect directly with your audience at no cost.

Simple ways to start:

• Use polls, live videos, or stories to spark engagement.
• Post behind-the-scenes content to humanise your brand.
• Share customer success stories, quick tips, or product updates.
• Join relevant industry groups or communities to expand your reach.
• Encourage user-generated content by asking customers to share their experiences.

Regular posting, authentic engagement, and a clear brand voice help you stay memorable.

2. Create Content That Adds Value

Sharing useful, insightful content is one of the most effective ways to build credibility and attract organic traffic. When you create content that solves problems or answers real questions, your business naturally becomes a trusted source of expertise.

Examples of Value-Driven Content:

• Host podcasts or interviews that share expert perspectives.
• Write blog posts that answer common customer questions.
• Create how-to guides or free eBooks that solve real problems.
• Produce short, engaging videos that showcase your product or service in action.

With so many free and easy-to-use online tools available, you can plan, create, and schedule professional content — all on a startup budget.

3. Build Relationships Through Email Marketing

Email is still one of the most personal ways to reach your audience. It’s perfect for nurturing leads, sharing updates, and encouraging repeat business.

How to start:

• Keep your tone friendly, helpful, and conversational.
• Use beginner-friendly and low-cost tools like MailChimp.
• Collect emails through your website, social media, or events.
• Send concise updates, offers, or quick insights that add value.

An engaged audience, no matter the size, can generate big results because they’re already interested in what your business offers.

4. Network and Collaborate

Partnerships are an excellent way to grow your reach without extra costs. Teaming up with other startups or local businesses lets you share audiences, ideas, and opportunities.

Ways to collaborate:

• Exchange guest blog posts or short video features.
• Co-run webinars, workshops, or community events.
• Feature each other in newsletters or social media posts.
• Run joint discounts, giveaways, or bundle offers that benefit both sides.
• Join local meetups and online networking sessions to build authentic relationships.

The best collaborations create mutual value — for you, your partners, and your shared audience.

5. Leverage Reviews and Referrals

Word-of-mouth promotion is a persuasive and affordable form of marketing. Happy customers are your strongest advocates, and their opinion carries real influence.

Simple ways to do this:

• Offer small incentives for genuine referrals.
• Share testimonials or short customer stories on your website and socials.
• Always reply personally to thank customers who take the time to share their experiences.
• Create easy links or gentle reminders for customers to leave reviews on Google or Trustpilot.

Positive social proof quickly builds confidence and helps new customers feel comfortable choosing your brand.

6. Use AI Tools to Save Time

AI gives startups the chance to work smarter. While it won’t replace creativity, it can simplify repetitive tasks and free up time for strategy and growth.

Ways to use AI:

• Design simple graphics for social media.
• Generate ideas for blog posts, emails, or social media.
• Analyse marketing data to see what’s working (and what’s not).
• Automate responses with AI-powered chatbots to handle basic customer queries, such as ChatBot.

Final Thoughts

You don’t need a big budget to make an impact — just a thoughtful, creative approach

By focusing on free tools, valuable content, and genuine connections, you can:

• Grow your audience organically.
• Build trust and brand recognition.
• Compete confidently with larger businesses.

Remember: great marketing isn’t about how much you spend — it’s about how well you connect. When you show up consistently, even small actions can lead to lasting results.

Article by PolicyBee

The difference between freelance, sole trader and self-employed isn’t so much a question of yawning chasms. It’s more a matter of subtle nuances, with a healthy dose of overlap thrown in.

In fact, it’s a bit like the difference between a Pink Lady, a Golden Delicious or a Cox’s Orange Pippin. At the end of the day, they’re all apples and essentially the same fruit. It’s just that each one tastes a bit different.

To establish what each of these three terms means, we’ll look at each of them in turn. We’ll examine the implications of identifying as one or the other of them, including what that means for your business structure and tax, as well as where the overlaps lie.

Self-employed

This is an umbrella term. It simply indicates someone who works but isn’t employed by a company or by another individual. Instead, they work for themselves and are in control of what they do. They might even employ others.

Both freelancers and sole traders are self-employed and fall into this category. But it’s not an exclusive club for them alone because the self-employed can also trade as a limited company (albeit with different obligations).

The important bit is that someone who’s self-employed chooses what work to do, when to do it, and how. That can be anything from supplying hand-made toys to a single shop, to providing financial advice to dozens of clients.

Anyone self-employed is responsible for any profits they generate or (unfortunately) for any losses they make. And, unlike limited companies, their personal liability is unrestricted. That can be significant if things go pear-shaped and debts mount up.

It’s a consequence of a self-employed person and the work they do being seen as part of the same whole. A limited company, on the other hand, is viewed as a separate entity from the person who created it – even if they’re the sole director and employee.

Freelance

This term is used widely in the creative industries, so you get a lot of freelance copywriters, web designers, photographers – that sort of thing. Although equally, you could be a self-employed IT consultant and describe yourself as ‘freelance’.

People also tend to call themselves ‘freelancers’ when they’ve been employed and paying tax through PAYE but decide to branch out on their own. Really, it’s just a way of saying you’re now self-employed and fending for yourself.

Freelancers generally hire out their services to a number of different clients for a set fee or by the hour. They often work on single pieces of work or on short-term projects. It’s unusual for a freelancer to supply just a single client, as a sole trader might.

What all freelancers must do is inform HMRC of their status. Whereas employees pay tax through PAYE deducted at source, the system for anyone self-employed is different. They must submit an annual self-assessment tax return and pay income tax and Class 2 and 4 National Insurance contributions.

That involves keeping scrupulous accounts, including dated invoices and receipts for any expenses.

Sole trader

Sole traders are very similar to freelancers in that both are self-employed and pay tax by self-assessment. It’s really the type of work they do and the way they do it that sets the two slightly apart.

Setting up as a sole trader is the simplest way of structuring your business and getting it off the ground. It’s only a matter of informing HMRC you’re trading, in the same way as for freelancers. There’s no complicated form-filling or formal registration process to negotiate.

And that’s where being a sole trader differs from setting up as a limited company. Because that involves naming a director, registering with Companies House, and submitting annual accounts. (Although to confuse matters, both freelancers and sole traders can also operate as limited companies.)

Limited companies also pay tax differently because, even if the company consists of just one person, that person is effectively treated as an employee. That’s why they have limited liability and their personal finances are protected should the company go into debt.

So, while very similar to freelancers, sole traders are slightly set apart because they tend to work in a somewhat different way. Whereas freelancers usually sell a skill or service, any type of small business can operate as a sole trader, be that retail, hairdressing, plumbing or whatever. Sole traders can even have employees.

Protecting your business

So, the difference between freelance, sole trader and self-employed in business terms really isn’t very great. Neither is there much of a difference in the type of everyday risks they face. The kind of perhaps unforeseen risks that can hit any business’s finances hard and even stop it trading altogether.

One of the most reliable ways of weathering the storm should risk turn to grim reality is to protect your business with insurance. Because a claim against you for substandard work, third-party injury or property damage can, quite frankly, be ruinous.

You’ll need a lawyer’s help to defend a claim against you. Plus, there’s other legal costs to consider and the harsh reality of having to pay compensation and damages. Add that lot up and you get a figure that can run to many thousands of pounds.

As a solo operator, it’s not very likely you have that kind of cash lying around. The good news is that business insurance throws a protective arm around you and your livelihood. It pays legal costs and covers any compensation on your behalf – all for a monthly premium.

Professional indemnity insurance and malpractice insurance deal with accusations your work wasn’t up to scratch. It covers things like breach of copyright and confidentiality too. And public liability has your back if anyone says it’s your fault they were injured or their property was damaged.

That’s for starters, and you can also get cover for your equipment, employees, data, and a whole lot of other things. That way, although you’re self-employed and operating solo, you won’t bear the sole financial burden if things go wrong.

Click through for more information about freelancer insurance, self-employed insurance and sole traders’ insurance.

Looking for small business insurance? Click here to get your personalised quote with PolicyBee today and protect your business with confidence.

Article by GoSimpleTax

Once upon a time, not too long ago, most people would have had one income source – usually their job, working for one employer, But, over time, things have changed. Many people now have more than one income source, either through choice or necessity.

Lots of people with jobs also have a nice side-hustle or perhaps earn additional cash from renting out property, whether in the UK or overseas. Many expat Brits still earn income that’s taxable in the UK, whether from property, employment or UK business interests. 

Sources of taxable income can include employment, self-employment (including subcontractor payments under the Construction Industry Scheme), rental income or income from share dividends, pensions, savings interest or capital gains (which can be payable after selling certain assets that have increased in value).

Reporting Multiple Income Sources to HMRC

Taxable income must be reported each tax year to HMRC via Self Assessment, the system the UK tax authority uses to collect Income Tax from a wide variety of sources. Once registered for Self Assessment, a taxpayer must complete an annual Self Assessment tax return (the SA100), which is eight pages long.

The SA100 is the main part of the Self Assessment tax return and you use it to report income from employment, pensions, savings and dividends. To report taxable income and claim tax expenses for other specific sources, you must also file supplementary pages. These are two pages long and have their own name and number as follows:

• Employment (SA102)
• Self-employment (SA103S or SA103F)
• Business partnerships (SA104S or SA104F)
• UK property income (SA105)
• Foreign income or gains (SA106)
• Capital gains (SA108)
• Non-UK residents or dual residents (SA109)
• A full list of supplementary pages is available on GOV.UK.

Completing all necessary sections of your tax return and relevant supplementary pages ensures that each source of income is taxed correctly and that you can claim available tax expenses. To avoid a late-filing penalty you must file your Self assessment tax return online before midnight on 31 January following the end of the tax year (5 April) during which you earned taxable income. HMRC takes into account all of your taxable income to calculate your overall tax bill, which is determined by the Income Tax Band into which your income falls.

• You’ll pay 20% (basic rate) Income Tax on £12,571-£50,270; 40% (higher rate) on £50,271-£125,140; and 45% (additional rate) on total taxable income above £125,140 (bands are rates are different in Scotland, 2025/26 for all figures).

Need to know! Not accurately reporting all income sources to HMRC can lead to penalties. Falsely claiming tax expenses, deliberate underreporting or failing to report large amounts of taxable income can lead to huge fines. 

Five common mistakes to avoid

Taxpayers with multiple income streams often make the following errors:

• Failing to include all taxable income. For example, not reporting income from employment as well as self-employment income or not reporting taxable side-hustle income. This can happen for innocent reasons, when people do not know that an income source is taxable.

• Not releasing that UK tax can still be payable when you’re an expat who is not resident for UK tax, for example, if you earn income from renting out UK property.

• Entering net instead of gross figures into tax returns. You must always report income before expenses are deducted.

• Not claiming for all allowable expenses (ie costs that HMRC allows you to claim back), which means you pay too much tax. This is particularly common for self-employed and property income.

• Overlooking side hustles, including income from online sales, freelance work or part-time jobs, which must still be reported if taxable. The trading allowance only allows you to earn £1,000 tax-free, anything more can be subject to tax.

Top Tips For Managing Multiple Income Sources

• Maintain digital records throughout the year. It will save you from having to scramble to collect everything shortly before the tax return filing deadline.

• Use accounting software to carefully and conveniently record all of your taxable income and tax expenses.

• Connect your accounting software to your card and bank accounts. It will automates transaction data, saving you lots of time and reducing manual entry errors.

• Keep supporting documents (eg P60s, CIS statements, income-related invoices and sales receipts, dividend vouchers, etc) and store them safely in order.

About GoSimpleTax

Simple, straightforward and designed to save you time and money. GoSimpleTax is a fully HMRC recognised online tax software for anyone who needs to file a Self Assessment tax return.

Get started with GoSimpleTax today and take advantage of a 30 day free trial.