Newsletter #151 - Bank of Essex, How to get your point across to your audience, Test and measure for marketing success, How to stay organised, VAT rate reduction to 15% - practical tips for businesses

In this week's Business121:

1. Bank of Essex
2. Guide to getting your point across to your audience
3. Steal the big boys' ways of measuring marketing success
4. Working from Home - How to stay organised
5. VAT Rate Reduction to 15% - How does it affect your business?
6. VAT rate change - practical tips for businesses

Small Business News

7. As "Dragon" eyes up Woolies, what lessons can small business owners learn
8. Small companies still unsure about Data Protection rules
9. Pre-"crunch" statistics show record number of start-ups last year
10. Banks spar over small businesses

Bank of Essex

As many small businesses are finding out, banks aren't very keen to lend money at present.

With funding a problem for thousands of small firms, help may be at hand from a very unusual source for businesses in Essex. In an attempt to help local businesses Essex county council is proposing to create a new bank, the 'Bank of Essex'.

The idea has been partly-inspired by the success of regional banks in the US, where there is already a Bank of Essex in the state of Virginia.

It's proposed that the UK's Bank of Essex will act as an intermediary to distribute the funds available through the European Investment Bank (EIB) to local businesses.

So for small companies being starved of much-needed funds, the proposed £50m community bank could be a very welcome solution. That is, of course, if you're lucky enough to live in Essex, but of little consolation if you don't!

However, the good news for businesses outside Essex is that some MPs are pushing the FSA to create a network of 'community banks' across the rest of the country. These banks would be run by existing credit unions and would be mutually owned for the benefit of local communities.

With many small businesses complaining of the increasing centralisation of banking decisions - and the replacement of the traditional bank manager with faceless telephone bankers - the creation of a series of community banks could bring a refreshing alternative to the business banking landscape.

************************* 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.
*****************************************************************

Guide to getting your point across to your audience
3 Seconds... That's all it takes to lose your audience. It is also all it takes to grab their attention – if you know how. It's true of ads, it's true of articles, it's true of websites, and it's also true of live presentations.

Fortunately, it is relatively simple to avoid the common mistakes that lose an audience, and replace them with attention-grabbing alternatives. Here's how to grab and keep the attention of an audience.

Steal the big boys' ways of measuring marketing - for a fraction of the cost
If you learn one thing from this article, make it this: The only way to run a marketing campaign is by the phrase 'test and measure'. Every single piece of marketing activity you do should be closely monitored and its performance challenged. You can then test a new idea and check that it works before spending a significant sum on it.

This is something that large companies are very good but many small businesses tend to overlook, so here are 5 easy steps to help you to test, measure and get the most from your marketing budget.

Working from Home - How to stay organised
If you work from home, one potential area of stress can arise when your paperwork has been left to the last minute, or seems out of control. Here are some tips for keeping on top of your small business administration.

VAT Rate Reduction to 15% - How does it affect your business?
In the pre-Budget Report the Government announced that the standard rate of UK Value Added Tax (VAT) will be temporarily reduced from 17.5% to 15% between 1 December 2008 and 31 December 2009. Here's how this will affect different types of business.

VAT rate change - practical tips for businesses
This article provides some practical tips for small companies on how to deal with the reduction in the standard VAT rate from 17.5% to 15% from Monday 1st December. What you have to do to change the rate depends on what type of business you are and what type of VAT scheme you are in.

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

COMPARE, CHOOSE AND BUY SMALL BUSINESS INSURANCE WITH COVERZONES...

Coverzones is an online comparison site specifically designed to cater to the needs of UK small and medium sized businesses. Users of the service can compare quotes from the UK's leading insurance providers.

Coverzones is more than just an online comparison service. Coverzones is a true one stop shop for you to source, purchase and manage your business insurance in one place.

At Coverzones, we do all the legwork, leaving you more time to focus on your business. Try our free online comparison service today
*****************************************************************

SMALL BUSINESS NEWS

As "Dragon" eyes up Woolies, what lessons can small business owners learn
A number of companies and individuals, including Theo Paphitis, have expressed an interest in buying parts of Woolworths, following its collapse last week. The Woolworths model of selling everything to everyone has been widely criticised, and their strife suggests that businesses should focus on their strengths to ensure their survival.

Small companies still unsure about Data Protection rules
The Government is still failing to help SMEs understand the Data Protection Act nearly 10 years after the law first came into effect, according to new research. Includes useful tips on data protection.

Pre-"crunch" statistics show record number of start-ups last year
The latest Government statistics show that the number of VAT-registered enterprises grew by 3% during 2007, reaching over 2 million by the start of 2008. These statistics cover a period before the economic downturn kicked in, so we could well see a different picture of business start-ups when the next statistics are released.

Banks spar over small business overdrafts
A war of words has broken out between the main business banks after Alistair Darling's call for other banks to follow Royal Bank of Scotland's lead and promise not to withdraw bank overdraft facilities to small businesses, the Telegraph reports.

** 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

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

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