Attracting, hiring, developing and retaining the right people is crucial to the success of any business.
Staff turnover is costing businesses more than ever and recent research from the Recruitment and Employment Federations reveals that companies are reporting skill shortages across 60 different types of role including engineers, IT specialists, care workers and accountants.
Not only that but the world of work is changing so rapidly that jobs that will be essential in three years’ time, don’t even exist yet.
The stakes for many employers have never been higher. It’s vital to compete to get the right people if your business is to flourish but what’s the best way to do this? Continue…
A disciplinary investigation is the first important step in carrying out a full and fair disciplinary process. It is one step that employers may find insignificant but, on the contrary, a proper investigation will generally lead to a smoother disciplinary rocedure.
An investigation is key as it is required by the Acas Code of Practice on Disciplinary and Grievance Procedures and will be taken in to account by an employment tribunal when deciding compensation awards. It is usually detailed in a company’s disciplinary policy and procedure which should be followed internally.
Here’s what every business owner needs to know about a disciplinary investigation; Continue…
Change is happening rapidly in the business world. Artificial Intelligence, Augmented and Virtual Reality, and ever improving technology at almost level are just a few of the new trends that business owners will need to deal with in the next five years.
With these trends being pivotal for businesses of every size, we asked Rohit Talwar and Steve Wells of Fast Future Publishing to highlight the 20 future factors that business owners will need to address as they chart their course to tomorrow;
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Part 2 of; The Future of Business – 20 Key Trends leaders should know. Continue…
When you set up a limited company, your annual profits will be subject to Corporation Tax.
Dealing with your corporation tax issues is one of your accountant’s key tasks. However, it is ultimately the directors of a limited who are responsible for ensuring that a company’s tax affairs are in order.
As a director of a limited company, you therefore need to make sure that your company’s corporation tax liability is accurate, your corporation tax return (form CT600) is filed with HMRC on time, and that you pay the corporation tax to HMRC when it falls due.
If you are setting up a limited company for the first time, here is a handy overview of how to comply with the corporation tax rules for UK companies.
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With auto enrolment now well into its fifth year, you’re likely to be familiar with the workplace pension reforms and what they mean for you and your workers.
What some employers may not have thought much about is that, as a result of auto enrolment, millions of workers are getting a stake in companies around the world.
Choosing a pension scheme that invests your employee’s pensions suitably is therefore something every business owner will want to do.
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According to recent research by Google on search behaviour, a whopping 50% of all people who conducted searches on local businesses visited the business the same day. If you’re a startup owner and serve clients locally, this might sound like music to your ears.
People who conduct local searches are highly motivated and are looking for an instant solution. This is why you should do everything in your power to go after these searches aggressively. Continue…
Marketing is about getting more business – and that includes getting more value out of your existing customer base – through delivering them multiple times the value you get.
If all you did was chase new clients, then you would be regularly losing the ones you already have, which means you would need to be constantly building. This is hard work.
There is an important model that will help you understand what to do in terms of sales and marketing for your existing customers, and it is one that every business owner should know and understand. Continue…
Nobody enjoys failure, but everyone experiences it at least a few times in their life and especially as a small business owner.
While it’s one of those things that most people like to gloss over, failing is actually a hugely valuable experience, as long as you know how to make the most of it.
Leigh Ashton, co-founder of Sasudi, stresses the importance of bouncing back from a disappointment as a small business; Continue…
Many small business owners view ‘big data’ as something exclusively for large businesses. But that isn’t the case. Astute small business can benefit from using data to grow sales.
To help business owners understand more about ‘big data’ and how they can benefit from it too, we asked Oliver Rowbory to explain;
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There are lots of things to think about if you’re considering taking out a business loan.
The UK’s business lending market includes a wide range of providers offering subtly different types of business loans. Some are aimed at a particular type of business, or companies of a certain size or those operating in a specific sector.
With a wide range of business loans available it’s important to first get a basic understanding of the different options you have when it comes to borrowing money to fund your business.
Here are some of the key considerations you need to bear in mind when sourcing a business loan for your firm. Continue…
Pop-up shops are an excellent way to test new ideas and products, engage with your target market and get feedback from potential customers, without making a big, long-term investment.
In addition to their value as a testing ground for new concepts and new businesses, pop-up shops are becoming increasingly popular as a way for existing business to take their offering to new locations.
There are lots of different factors that can determine the success or failure of a pop-up shop and it’s vital you consider these before starting your pop-up venture. Here are 6 key considerations to help you get your first pop-up shop running smoothly and generating income for your business. Continue…
It’s not uncommon that when an employee makes a complaint about a fellow colleague that employers wish to bury their heads in the sand and ignore the issue.
A getting on with business approach, however, is unlikely to solve the dispute and can cause the situation to spiral out of control. Employers who manage disputes and try to resolve these when raised will see the benefits of taking such an approach.
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Your business should register for VAT if your “taxable supplies” over the past 12 months has exceeded the VAT registration threshold.
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Since the recession of 2008/2009, there has been a significant reduction in the ability of banks to lend to British SMEs.
Whilst mainstream finance is still great for some businesses, many banks now have lending criteria that small businesses are unable to fulfill.
Fortunately, ‘alternative finance’ can offer a viable substitute for entrepreneurs looking for innovative and flexible ways to fund their business growth.
But before blindly assuming alternative finance is the answer to all your financial woes, there are six things you need to understand before you approach an alternative finance provider looking for funding. Continue…
According to Bloomberg’s infamous, mythical study, 8 out of 10 businesses fail in their first 18 months.
The Bloomberg figure has been shown to be nonsense, but business failure statistics given by other sources still report business closure rates of 20-40% within the first 2 years of trading, which is still a very high failure rate.
In this article, I’m going to explore one of the ways to avoid the financial pitfalls many businesses find themselves in. I’m going to talk about not just having a financial plan – but understanding the discipline of testing it.
There are myriad reasons why such a large proportion of businesses don’t succeed, but for small businesses cash flow problems are one of the most common reasons. There are practical ways to stave off cash flow problems – but much better if they can be avoided in the first place. Continue…
People learn through observing others – how they act, how they react, how they make others feel. They do it so they can work out how to be successful, or to survive. They do it so they can emulate them, or avoid their mistakes.
When we are leaders, it means they are observing us and making judgments about whether to be like us, or not.
As a business leader, your actions can have a profound effect on your business. Not only does it set the tone for your company culture but it shapes how you and your business are viewed by potential customers and partners.
You therefore need to ask yourself, ‘What can I do to be the kind of person that people want to emulate and do business with?’
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Striving to find a meaning in life is the most powerful driving force in humans. Acknowledging this as the key motivator for everyone involved in your business will help you to nurture the best achievements and results.
Neuroscientific research taking place around the world is beginning to piece together connections between the brain and behaviour, especially at work. This research is providing valuable insights into how to be a more effective leader. Continue…
If you’re a start-up, chances are you are going to have to get out there and tell people about your new venture. What you say, and how you say it, is a lot more important than you may realise.
When it comes to communicating what you do, you don’t want to make a rookie error, just because your business is new. And the last place you want to miss the mark is when it comes to your pitch.
Preparing a powerful presentation is one of the best ways to communicate your start-up’s mission and vision. Deliver it well and you’ll earn a reputation as “one to watch”. Nail it, and your chances of success will increase exponentially. Using the “Power of Three” will help you to do just that.
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The days of a “job for life” are long gone. Millennials are starting their careers in a volatile, uncertain, complex and ambiguous world, but they are also equipped with the skills and attitude to react quickly to changes and spot new opportunities.
The trend of young people changing jobs more frequently is one perhaps one result of a growing desire by young people to take control of their own destiny and pursue their passions, after being inspired by other young people they see doing the same online.
Just having one single “job” in the traditional sense may no longer be satisfying enough for the new generation. They increasingly want to feel passionate, engaged and motivated by their work.
Consequently, there are now thousands of young people who transfer skills between a day job (that pays the bills) and their own personal business and creative projects. Continue…
