Newsletter #146 - Credit crunch overload, Improve your sales, 5 marketing essentials to head off a drop in sales, Recruitment tips, Keeping the right employment records, Business insurances your business must have

In this week's Business121:

1. Credit crunch overload
2. Improve your sales by understanding the numbers
3. 5 marketing essentials to head off any drop in sales
4. Things you should consider before becoming self employed
5. Staff recruitment tips for small businesses
6. What records are employers required to keep by law?
7. Business Insurance - Insurances your business must have

Small Business News

8. The classic workplace personality types and how they affect motivation
9. Business failures rocket as banks call in the receivers
10. Scarborough is the business
11. Working from home - have you claimed tax relief on your expenses?

Credit crunch overload

Firstly, thanks for all the messages of support after my rant last week. It was good to let off some steam, and great to hear that I wasn't alone in my feelings of frustration and despair.

Many of you also added that you're fed up with constant doom and gloom headlines about the credit crunch and the impending recession. As most of you have reached credit crunch overload, we'll be keeping the gloom to a minimum and focusing on bringing you help and ideas you can use positively in your business.

This week's selection of guides aim to help you to increase your sales, adapt your marketing, recruit better and to stay on the right side of the law when it comes to employment and insurance. The things we all need to work on come rain or shine, boom or bust.

And, in case that isn't enough, our piece on, 'Classic workplace personality types' will definitely bring a smile to your face!

************************* Advertisement *************************

WHY YOUR BUSINESS IS BETTER OFF INSURED WITH HISCOX

As a leading specialist insurer we provide the most comprehensive business insurance available online.

You can tailor your policy with industry specific professional indemnity cover (£25K up to £2M), 'all-risks' contents and computers cover, portable equipment, public liability, employers' liability, legal expenses, business interruption & buildings.

Why not get a quote now? Hiscox allows you to buy online in minutes and download your policy documents immediately. Click here to find out more - http://snipurl.com/_Hiscox_Insurance
*****************************************************************

Improve your sales by understanding the numbers
Let's say you discover that for every hundred people who visit your website, ten of them buy something. To sell another ten items, all you need to do is attract a further hundred website visitors. In sales, the numbers do tend to work that way, as long as other variables remain the same (i.e. you have attracted the same quality of website visitors). It's what can make sales reasonably predictable.

So, by getting more leads in at the start of the process you will increase your sales. But, if you fully understand the numbers involved in the sales process, you can improve the model and make more sales. Here's how to build your sales model and test changes to generate more revenue.

5 marketing essentials to head off any drop in sales
One of the main dangers, in the current economic climate, for small businesses is self-paralysing fear. Many businesses will lose sales over the next year, but many others will see the recession as a sales opportunity. Here are five proactive ideas to help use clever marketing to your advantage.

Things you should consider before becoming self employed
Over 430,000 new business start-ups launched last year, but with over 60% of new companies ceasing trading within 5 years of launch potential entrepreneurs should be aware of all the facts before going it alone. Here are some handy tips to help new business owners get it right the first time.

Staff recruitment tips for small businesses
With a leading job site claiming that SMEs waste £69m on poor recruitment decisions each year, here are some top tips to help you create a streamlined and efficient recruitment process for your small business.

What records are employers required to keep by law?
In these challenging economic times, many businesses are exploring where they can cut costs and make savings. Research shows that when it comes to Employment Law, businesses are actually over-complying and spending tens of millions of pounds a year on unnecessary paperwork.

The three main areas where small businesses over-comply are - taking on new staff, the National Minimum Wage and the Working Time Regulations. So what records are employers required to keep by law?

Business Insurance - Insurances your business must have
Many businesses are required by law to have certain insurance policies in place. If you fail to have the right insurance cover the consequences can be extreme. Here's a look at some insurance policies that businesses must have, and others that can give you extra cover and peace of mind.

************************* Advertisement *************************

LOOKING FOR A FRIENDLY AND FAIRLY-PRICED ACCOUNTANT?

You might not think it's possible to find that rare mix. But we at HfM pride ourselves on friendly, fairly-priced, professional tax and accounting services for small businesses.

PUT US TO THE TEST! Contact us today and we think you'll be pleasantly surprised. Call Ian Marlow on 020 8690 7444, or email Ian@HfMtax.co.uk Website: http://www.hfmtax.co.uk
*****************************************************************

SMALL BUSINESS NEWS

The classic workplace personality types and how they affect motivation
A recent report into workplace roles and motivation breaks down the personality types of employees. It identifies the characters that make up today's workplace and how they relate to, and motivate each other, in today's changing business conditions. Some amusing personality stereotypes emerge as a result.

Business failures rocket as banks call in the receivers
The Telegraph reports that business failures have increased by 28% in the past three months, with banks forcing more firms into insolvency.

Scarborough is the business
Scarborough was named the enterprise capital of the UK at a ceremony in Downing Street on Monday. The North Yorkshire town was the Enterprising Britain 2008 award winner for its Waking Sleeping Beauty project, which has transformed the declining seaside town into a shining example of enterprise excellence, reports The Times.

Working from home - have you claimed tax relief on your expenses?
Tax relief is available for additional expenses incurred by people working from home. A leading accountancy body is encouraging homeworkers to claim all the tax relief they are entitled to from HMRC.

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

===========
CLASSIFIEDS
===========

FREE DAY-TO-DAY BUSINESS BANKING FOREVER
With Abbey you can enjoy free day-to-day business banking forever. Call us today on 0800 085 3099 to find out more.

TURN YOUR UNPAID INVOICES INTO CASH
Lloyds TSB Commercial Finance factoring and invoice finance products can give you a 90% cash advance on your invoices, which means you can instantly turn your invoices into cash. Get an Instant Quote to find out how we can help you to quickly raise cash for your business.

WANT YOUR BANK TO REPAY YOU ALL THOSE UNFAIR FEES AND CHARGES?
Did you know that you can now claim back unfair bank charges going back 6 years. One or two unfair overdraft fees each month adds up to thousands of pounds. How much can you reclaim in unlawful bank charges? Find out NOW; http://snipurl.com/Reclaim_Bank_Charges

30-DAY FREE TRIAL FRANKING MACHINES
With £20 Free Postage, plus a free personalised logo so you can advertise your business on every piece of mail you post. All details here; http://snipurl.com/_Free_No_Ties_Trial

SEE YOUR AD HERE
Business121 is read by over 11,000 small business owners every week. Advertise in our newsletter from just £60+vat per issue. Please email Classified@Business121.co.uk for details.

(c) Business121.co.uk 2008