When you start a business with someone else, it’s always a good idea to lay down some rules on important issues, such as; how you will run the company, your respective responsibilities and what happens if someone wants to leave the business. Agreeing on how you will handle these, and other important matters, will save a lot of anguish down the line.
If you are going into business with other individuals working under a partnership structure, you should do this with a Partnership Agreement. If you are setting up a limited company, you will a need to record these in a Shareholder’s Agreement.
This guide explains what a Shareholder’s Agreement does, who should get one and what should be included in the document.
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When you run a small business it may seem like an extra chore to carefully wordsmith every presentation you give or to think carefully about the words you use when talking about your product and service.
However, when you are trying to make a sale, every word counts. By making your words more memorable you’ll not only stick in the minds of your customers you’ll find yourself making more sales. Continue…
How can I forecast my cash flow when the business doesn’t even exist yet?
That’s a question most new startups wrestle with as they are planning their new business. It may seem to some to be an impossible task, so we asked Robin Booth of Brixx.com to show how you can produce a cash flow forecast for a new business. Continue…
There may come a point where you end up missing a repayment for a loan or credit card that you have taken out, perhaps as a result of an unexpected financial emergency, or maybe just simply not having kept a track of your finances that month.
One of your first thoughts will be how quickly you can rectify the situation and pay the lender back, but have you also considered that this late payment could affect your credit score negatively? All The Lenders takes a look at how this works, as well as what you can do to also minimise the impact. Continue…
It’s impossible to forget the repercussions of the financial crash, many of which are still felt throughout the global economy today. But, as economic growth flatlined, the opposite happened in the online world.
While the banks cut off their lending to startups, internet technologies were undergoing a key evolution. Web 2.0 was emerging, and technology began connecting individuals, allowing them to bypass many long-established intermediaries.
This was the precursor to both rewards and equity crowdfunding.
Put simply, Rewards Crowdfunding is the practice of giving lower cost or exclusive items as rewards to early adopters in return for their backing, while Equity Crowdfunding involves selling shares in your business.
To help you understand more about the pros and cons of Rewards and Equity Crowdfunding, and the key points for success, we asked crowdfunding expert, John Auckland of TribeFirst to explain more. Continue…
There are a number of different myths surrounding credit scores, making it difficult to truly understand what it is you need to know and what you should be doing in order to boost yours.
In this guide we cover the most commonly spoken about myths, and debunk them one by one.
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The way in which audiences are perceiving and consuming marketing content is changing rapidly. The digital sphere has changed the nature of how we, as consumers, respond to advertising, with the result that many traditional techniques just aren’t cutting it any more.
Consumers are digitally literate and don’t have any qualms about voicing their dislike of traditional advertising. Continue…
Entrepreneurs come in all shapes and sizes, of course, but many of the most innovative entrepreneurs are creative contrarians. They are outsiders, gainsaying the doubters that say it cannot be done.
In fact, many entrepreneurs are introverts, which can be a major barrier when it comes to that vital part of the entrepreneurial process: pitching.
Entrepreneurs are suddenly asking to be judged by their doubters, which is certain to raise their defences. Yet, painful as it is, the only way to make their creativity profitable is to present their work to those that hold the keys to their future.
Luckily, there are plenty of books, advice and personal experience that can guide us through this important process, which are distilled here into 10 key pitching principles; Continue…
From bold new start-ups to established small companies branching out, meetings and interactions are increasingly virtual.
In some cases, due to distance and the global reach, you may never meet in the ‘real world’, only ever online. So to help create a good impression, now more than ever, is the time to invest in developing your small screen skills.
Whether you are hosting a virtual meeting, pitching to a potential client, running a webinar, conducting online training, or even interviewing a prospective new employee, how you present yourself on the small screen matters. So, here are 10 tips to ensure you put your best foot forward on the small screen. Continue…
Being able to get on with other people is important for anyone, but especially for small businesses and start-ups.
There is very little you do alone – for most things you need to work with other people, (staff, suppliers, customers, advisors, government agencies, and so on) – and you need to get them onside.
The first step in getting on with other people is to build rapport with them. If you don’t get this right, you won’t get much further so we asked author, Catherine Stothart to outline tips and techniques that will help you to quickly establish rapport with anyone. Continue…
Starting your own business isn’t plain sailing. It throws lots of new challenges at us, each with their good, bad and ugly dimensions. And registering a patent is no different.
A lot of inventors with incredible ideas have fallen along the wayside, simply because they didn’t invest the time needed to successfully navigate the patent system.
Make a mistake at this point and you could end up doing all the hard work only for someone else to exploit later down the line. So if you want to protect your business idea or invention, you need to take the patent process seriously. Continue…
Increasing cash flow and being tax-efficient are usually near the top of every small business owner’s agenda.
One way to achieve both these aims is to tax advantage of some of the various tax incentives available to businesses. However, small businesses often miss out on these tax breaks because they either don’t know what they’re entitled to, or can’t find the time to make a claim.
So to help you save time and money, here are five tax incentives and tax relief opportunities that small businesses can take advantage of;
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With age comes wisdom, but all too often in the business world, hubris can come along for the ride too.
After finessing business decision making for decades, executives naturally begin to conclude that their specialised knowledge, expertise and business skills mean that they always know the best way to solve a client problem, to win a major account, or to drive a workplace innovation.
After all their past successes confirm this. Subconsciously survivorship and confirmation biases are at work; good decisions are reinforced, and poor ones are forgotten – which distorts their real importance.
So, can these experienced executives learn something from Millennials? Absolutely! Continue…
UK exports to Asia are now worth 18% of the UK export market – that’s £98.6 billion. China is now the eighth largest export market for the UK – with India and Singapore being among the UK’s largest trading partners in the commonwealth.
Trading to Asia offers an entirely new world of possibility for UK businesses to export their products and to build a global brand – and with Brexit fast approaching and the future of British trading unclear, exporting to Asia is becoming increasingly popular. Continue…
Look around at the world’s many unpredictable events and it could not be clearer that our political, and social, tectonics plates are shifting.
Fueled by the digital revolution of young technology adoptees who are now reaching adulthood, it is in many ways unsurprising that the connected generation is rejecting old leadership paradigms, and favouring the peer-to-peer model over outdated intermediaries.
As the plates shifted, crowdfunding has been able to blossom, and its societal impact is far more radical than you might realise.
My prediction is that by 2030, all worthwhile ideas will be brought to life via crowdfunding. Continue…
The common perception is that you need to be a bit of an extrovert to be a good public speaker.
However, that needn’t be the case. With a few simple tricks, as Kay Heald explains, introverted entrepreneurs can become excellent public speakers.
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Small Business Minister Andrew Griffiths unveils a new £8m Business Basics Fund in a speech to the CBI today.
The Business Basics Fund aims to boost the productivity and performance of small businesses in England. Continue…
Hiring the right people is vital for the growth of your company. It is likely to go some way in contributing to the development of the business and helping it to become successful.
The task of recruitment varies across different industries depending on their nature. For example, recruitment in hospitality is seasonal and finding the right people can be difficult.
Moreover, recruitment can be even harder for startups, so here we take a look at some of the main challenges facing startups when it comes to looking for people to join their team. Continue…
Nowadays, everybody knows that social networks play a significant role in the promotion of a company.
That’s why having an engaged and active community on Facebook can make all the difference to your business.
But if you don’t know what you’re doing, building Facebook friends can take a lot of time and effort. So to help you to quickly build your Facebook fans, here are 5 simple steps you should take. Continue…
As a business owner, it’s likely that you struggle to find time to do the performance appraisals for your team.
You are not the only one.
Surveys have indicated that owners and managers hate doing performance reviews and as many as 58% think it is a waste of time. Continue…
