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Newsletter #123 - One third of startups risking fine of £2,500 per day, Pay Per Click Masterclass, 5 things your business can outsource, How to prepare your business to cope without you...

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In this week's Business121 Newsletter:

1. One third of startups risking fine of £2,500 per day
2. Pay Per Click Masterclass – Avoiding common PPC mistakes
3. National Insurance Guide for Small Businesses
4. 5 things your business can outsource
5. How to prepare your business to cope without you

Small Business News

6. Business insurance - one third of startups have no cover
7. Business statisics - why can't you find a plumber in Kensington?
8. Young Rural Entrepreneur of the Year 2008 - open for entries
9. 10th Annual Enterprising Solutions Awards 2008 open
10. Entrepreneurs favour older workers to plug skills gaps

One third of startups risking fine of £2,500 per day

New research out this week suggests that nearly one third of the UK's business start-ups are operating without any business insurance.

The survey of small businesses revealed that nearly half of those working from home and new media consultants are operating without insurance. A third of the same group admitted having little or no idea what their policy covers.

One key concern from the survey is the revelation that 32% of startups could face legal action as they are unaware that temporary workers and sub-contractors must be covered under statutory Employers' Liability insurance.

A business that doesn't have Employers Liability insurance in place for such workers can be fined a whacking £2,500 per day. A fine of that size would put most small firms out of business.

If you're not sure whether you need to have Employers Liability cover in place read our guide to Employers Liability Insurance.

You'll also find a range of guides covering the different insurances your business might need to have in place or benefit from, including;

• Work from Home - Home Office Insurance Guide

• Professional Indemnity Insurance
• Public Liability Insurance

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Pay Per Click Masterclass – Avoiding common PPC mistakes
Pay per click is an excellent advertising option for small businesses with limited budgets. With costs incurred each time your advert is clicked on, you must check all aspects of the campaign for effectiveness. Failing to use all resources and optimisation techniques lowers your return and can end up costing a big chunk of your budget.

If your campaign isn't performing to expected levels or is costing a lot but delivering few targeted clicks, you could be making one of these five common pay per click mistakes.

National Insurance (NI) Guide for Small Businesses
National Insurance is a deduction from earnings, set up originally to fund various State benefits such as the NHS, the State pension and other welfare-related schemes. In this article we look at how NI works, and what your liabilities will be as a small business person.

5 things your business can outsource
Outsourcing is a powerful modern tool to help bring invaluable expertise into your business at a reasonable cost. You are actually transferring the entire management and operation of a specific function to another business. Small businesses can use outsourcing as a powerful way to grow without needing to take lots of specialists onto the payroll. Here is Bytestart's guide to five things that are commonly outsourced by small businesses.

How to prepare your business to cope without you
As the founder of your business and the person who is the driving force, you are probably the key factor behind its success, so it's vital that you plan what you will do if something happens to you. This is not scaremongering. It's about taking an hour out of your day to think about what could happen; what you would do, and then take some action to prepare.

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SMALL BUSINESS NEWS

Business insurance - one third of startups have no cover
New research suggests that nearly one third of the UK's business start-ups are operating without any business insurance. The survey revealed that nearly half of home-workers and new media consultants are operating without insurance.

Business statisics - why can't you find a plumber in Kensington?
A new study of over 600,000 small businesses paints a fascinating map of how businesses operate across England and Wales. The research shows why you can never find a plumber in Central London but can always find an estate agent in well-heeled parts of the capital.

Young Rural Entrepreneur of the Year 2008 - open for entries
The search for the Young Rural Entrepreneur of the Year 2008 has begun following last year's inaugural award. A cash prize of £10,000 is on offer to the winner who can demonstrate the requisite entrepreneurial spirit by running a company that is either based in the countryside or is making a sustainable contribution to the rural economy.

10th Annual Enterprising Solutions Awards 2008 open
Dynamic and innovative social enterprises are being offered the chance to win over £10,000 by the Social Enterprise Coalition. Now in their 10th year, the Enterprising Solutions Awards are a call to action for successful social enterprises to be recognised for their achievements as sustainable businesses that trade for a social purpose.

Entrepreneurs favour older workers to plug skills gaps
New statistics from a leading accountancy firm suggests that entrepreneurs in the UK are increasingly turning to older workers to plug skills gaps in their businesses. The research shows that 45% of UK owner-managers are concerned about skills shortages and many claim younger recruits are often just not up to the job.

** For the latest Small Business News, visit http://www.Bytestart.co.uk **

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CLASSIFIEDS
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BETTER BUSINESS - THE MAGAZINE FOR SMALL BUSINESS OWNERS
Every issue of BETTER BUSINESS brings you ideas, advice and inspiration to help you to transform your business. Find out more about it and a special offer for Business121 readers here; http://snipurl.com/_Better_Business

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(c) Business121.co.uk 2008

Posted May 21, 2008