How to set up and run a small business

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Once you’ve made the decision to start your own business, the natural instinct for many is to charge headlong into getting it off the ground right away.

Starting your own business might have been something that’s been at the back of your mind for years, and now that you’ve finally decided to take the plunge, you don’t want to waste any more time.
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Here (in no particular order) are some handy tips from the Bytestart team, based on our findings working with small businesses over the past decade, and from our own personal experience.
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There’s nothing more demotivating when you’re doing your own PR than spending hours getting the perfect press release put together… only for it to be completely ignored by journalists.

Has this happened to you?
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Unless human resources is your line of work, you almost certainly didn’t go into business to devote your time to HR. In this article, David Webb, from work expert Acas, explains how small firms can hire without fear
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Working from home can seem like a dream come true – whether you’re self-employed, or are employed by a company that allows flexible working conditions, it’s a chance to cut out the commuting and work in your pyjamas.
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If you form a new limited company, you should be aware of the legal requirements you have to meet as a limited company director, on behalf of the company.
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There are currently over 800 different businesses operating as franchises across the UK. Some of the more instantly recognisable brand names that offer franchise opportunities in the UK are Domino’s Pizza, McDonalds and Subway.
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This guide outlines how VAT registered businesses should charge VAT on their goods and services, and how to reclaim VAT on purchases and costs.
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Freelancers and small businesses are getting an even rougher deal than usual, as figures from Experian show they are currently the only individuals and companies in the UK to be making strides on prompt payment.
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Although it may not reflect ‘real life’, the BBC’s Dragons’ Den programme has done a good job in highlighting the role that angel investors play in the business world.
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In the first in a short series of Value Added Tax bulletins for small businesses, Les Howard looks at what VAT is, and when you must register your business.
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A technology entrepreneur says that start-up businesses can only be effective if they embrace cloud computing, rather than investing in their own computer hardware.
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If you want to make your start-up business more profitable, alongside the quest for more sales, and greater margins, there are a number of things you can do to make your new business more efficient.
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If you choose to set up a limited company when you start your business, there’s a lot more paperwork involved.

It’s one the downsides of going limited (the biggest upside of course being that you limit your liability should the business go under).

One of the many pieces of paperwork you will have to generate on at least an annual basis is a balance sheet.
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Useful research, published this week, has unveiled the optimum times of day to launch email marketing campaigns to prospective customers. Email open rates vary enormously according to when they are received.
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Following criticism that the Funding for Lending scheme has done little to extend credit for small firms, the Bank of England has announced an extension to the current scheme, with further incentives for lenders.
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Starting a new business is fun. It’s a world of learning and discovery as you try to build something brand new from scratch and make it on your own two feet.

Many people are so caught up in building their business that they don’t really consider where they want it to go in the long-term. And very few people at the start are forward thinking enough to plan the finish – their exit strategy.
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Life can be great when you’re running your business as a one man band. You get to escape the shackles of employment including a boss telling you what you do and when.

Of course there are downsides, such as the loss of a regular salary and other employment perks. And the most serious of these is how you would continue to earn money if something happened to you or your business.
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A leading accountancy firm has urged company owners to check if they are due a Corporation Tax refund from HMRC at the end of each year, as delays are not uncommon.
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A major franchising exhibition will take place at Manchester Central in June, with free entry available to Bytestart readers.
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