Good planning is important for both startups and established businesses, and a financial plan is no exception.
As a new business owner, you have probably never had to produce a financial plan, so it can definitely be a daunting prospect. However, investing a little time and effort in making a financial plan for your new business can save you a lot of money and pain down the line.
So to help you get your financial plan right we asked Robin Booth of Brixx.com to outline the 6 steps to develop a coherent, holistic financial plan of your business. Continue…
The dream for many entrepreneurs is to come up with a great new product, find the funding to develop it and then for it to fly off the shelves.
The reality for most is different, but when this does happen it’s worth finding out how this success was achieved because the lessons we learn can help us to replicate the achievements for our own business.
Yuu is one such success, so we asked co-founders, Gill Hayward and Kellie Forbes to share their story with us; Continue…
Getting the recruitment process right is important for any business as employing the wrong person can have a significant impact on future success. It will also save time and costs as the process will only have to be carried out once and not repeated.
Although some employers perceive interviewing as a small part of the recruitment process, it is a vital opportunity to examine how potential candidates measure up against the needs of the business and, as such, it is important to get it right.
There are also risks of discrimination that employers should be aware of to avoid a tribunal claim, so here’s how to make sure your interviewing process gets the right results. Continue…
When you’re trying to work out how well your business is doing, one of the most powerful tools in your financial arsenal is your profit and loss account (P&L).
This is a simple set of figures that will give you a summary of what your business has spent and sold, normally in a 12 month period.
Crucially, a P&L statement will tell you how much profit or loss your business has made so it’s useful to have a good grasp of it.
Here’s an overview of Profit & Loss Accounts for a small business owner.
Continue…
The UK has one of the most robust and exacting health and safety regulatory frameworks to be found anywhere in the world.
Compliance with the various H&S laws is crucial for employers and this is true of the regulations for the appropriate and correct use of Personal Protective Equipment (PPE) for outdoor workers. Continue…
In its 50 years, business book publisher Kogan Page has remained buoyant in a sector that is dominated by much larger companies.
The fact that its business is still prospering is testament to a few basic concepts that are as true today as when the company started in 1967. We asked Managing Director, Helen Kogan to share her experiences of how a smaller business can gain competitive advantage over bigger, dominant competitors. Continue…
Despite Brexit, the UK government has confirmed it will abide by the new General Data Protection Regulation (GDPR), which is due to come into effect on 28 May 2018.
The aim of General Data Protection Regulation is to encourage companies across the European Union to think seriously about data protection. In practice, the new GDPR lays down some fairly stringent legislation, for both large and small businesses, governing the standards by which personal data is collected and stored.
To help UK businesses understand the new laws, and avoid the heavy punishments failure to abide by them bring, here’s a guide to the GDPR legislation. Continue…
If you work in the world of hairdressing you’ll know a lob from a wob, just like plumbers know the difference between an angle stop and a capillary connector.
For those of us who don’t work in these industries it’s complete gobbledegook. What are they talking about?
The pension industry is one place where jargon is rife, but it doesn’t have to be this way. With auto enrolment pension schemes meaning more employees taking out workplace pensions, we asked Paul Budgen of NEST, which has been set up by the government especially for auto enrolment, to outline the benefit of jargon-free pensions communications. Continue…
Thinking about your business in different ways affects how you plan for the future, opening up some new avenues, but making others potentially harder.
By being aware of how you view your business you’ll also invent new ways of thinking about it, which will give you a more balanced and flexible approach to financial planning. Robin Booth of Brixx.com explains how to think differently about your business, and the benefits of doing so; Continue…
As a business owner, you are always looking for greater efficiencies, more productivity and some general cost savings.
One of your key jobs is to make sure you are always looking for ways get your business running more smoothly and more profitably, but before you jump in and make wholesale changes to the way your business is run; ask yourself these 5 key questions; Continue…
If you are selling any products or services online, you need to comply with e-commerce regulations.
But what exactly must your business do to comply with these regulations? We asked Adrien Herbert of Lawbite to explain; Continue…
Real-time marketing (RTM), the strategy and practice of reacting with immediacy in digital channels to external events and triggers, has been steadily growing in use and popularity.
An expanding array of tools and digital channels (e.g., social media and listening capabilities) has made real-time accessible, in theory at least, to virtually every marketer.
As digital channels increasingly function in real-time, all marketing organizations must consider to what degree they, too, will adapt, so here are 12 steps to help you get ready for real-time marketing; Continue…
PROMOTED CONTENT
This article has been provided by
fastgardener the new garden maintenance service.
A new British start-up connecting businesses and homeowners in the UK with professional gardeners is turning to crowdfunding to get the necessary capital to grow. Continue…
From greater productivity and coming up with new and exciting ideas, to boosting morale and motivation, there are lots of advantages to working together. New businesses may be searching for effective and efficient ways to help promote teamwork and one of the best ways to do this is through document collaboration.
Document collaboration has a number of benefits. Most notably, it keeps everyone ‘in the loop’.
The practice makes it easy to see changes, understand processes, and maintain strong communications, both internally and externally. However, while some may think of collaboration as being simple, getting it right can be tricky.
So to help you get it right first time, we asked, author and document management specialist, Kent Raju to share his tips on how startups and small businesses can successfully collaborate on documents: Continue…
As internet access becomes increasingly universal, more and more businesses are turning to cloud phone systems (also known as PBX, virtual or internet phone systems and VoIP) instead of traditional landlines.
The benefits of a cloud phone system are numerous – they’re more flexible, allowing team members to make and receive calls without being tied to their desk, and they’re often more cost-effective for smaller businesses.
If you’re thinking of moving to a cloud phone system, or setting up your first business phone system, this guide will help you to work out which features you’ll need, and what to look out for when choosing a phone system supplier. Continue…
Advertising for a new member of staff is something many business owners will need to do. Whether it’s because an existing employee is leaving, or a new role is being created, advertising for job vacancies is part and parcel of running a business.
One of the first steps for many businesses seeking a new employee will be to write a job advert. However, there are legal implications, as well as practical concerns regarding the advertising of job vacancies, that employers need to be aware of.
If you get this crucial part of the recruitment process right, the next steps are more likely to go smoothly, but get it wrong and you could get into hot water.
Continue…
A website can be a very powerful marketing tool for start-ups and small businesses. An effective site helps smaller firms to reach out to a huge audience of potential new customers and take on bigger rivals.
However, the battle to be found online can be fierce, so if you want your small business website to be successful, you will need to look at search engine optimisation, or SEO as it’s commonly referred to.
With SEO becoming more complex and specialised, many small businesses look to outsource the work to an agency. But with so many practitioners and firms out there offering SEO services it can be tricky to find the reputable providers.
To help you sort the wheat from the chaff, here are the 5 questions you should ask an SEO agency before you think about hiring them.
Continue…
As a start-up the chances are your marketing budget is smaller than you’d like, so it’s important to get as much out of it as possible.
Although not right for every business startup, PR is a marketing tool that is well worth considering as it builds both awareness and credibility. It can showcase your expertise while delivering third party endorsement from respected journalists and media outlets.
In addition, PR is great for your SEO; having articles authored by you or quoting you filling up the first few pages of Google is just what a start-up business needs.
So how do you do it? We asked, Chantal Cooke, author of PR Demystified; how to get free publicity by giving journalists what they really need, to share her blueprint for DIY PR success;
Continue…
It has been proven that the happiness of your employees can have a huge impact on their productivity. In fact, job satisfaction can lead to your workers being 12% more productive, according to a study carried out by the Social Market Foundation and the University of Warwick.
One of the best ways to increase happiness and morale throughout your business is by implementing an employee engagement scheme.
Here, Steve King, Director of Gifts International, explains how you can help your staff to be happier and more productive with an employee engagement scheme.
Continue…
To some extent we are all caught in a telecoms trap. Whether you are in services, retail, or manufacturing your start-up or small business must have some form of telecoms.
This gives some suppliers an opportunity to bamboozle customers with jargon and complicated long-term contracts. It can even get to the point where when you have a query and consider moving supplier you are promptly told, “sorry you are still under contract.”
But are you really always bound by such a contract, and do you have any options to get out of a telecoms contract you aren’t happy with?
We asked Dave Millett of independent telecoms brokerage, Equinox, to give you the inside-track on business telecoms contracts; Continue…
