Newsletter #153 - Community Banks gaining momentum, How to keep winning clients during a recession, Making your business more efficient, Simple rules to follow when creating a business plan, Public Liability Insurance

In this week's Business121:

1. Community Banks gaining momentum
2. How to keep winning clients during a recession
3. Tips to make your business more efficient in 2009
4. Simple rules to follow when creating a business plan
5. Public Liability Insurance - Is your business covered?

Small Business News

6. Big banks continue to announce funding support for small businesses
7. Business owners lose faith in Gordon Brown's leadership
8. Entries open for 2009 UK Enterprise Awards
9. Make sure you're registered with HMRC to avoid tax return problems
10. Dragon urges small businesses not to shy away from networking

Community Banks gaining momentum

Two weeks ago we highlighted how Essex County Council was looking to help local businesses, being starved of funding by banks, by setting up their own community bank, the Bank of Essex.

It was an ambitious idea and very early days in the process, but the good news for businesses based in Essex is that the council is making rapid progress and is aiming to be in a position to start distributing funds to small businesses in the New Year.

In an interview with the Sunday Times Essex Council's leader, Lord Hanningfield said, 'The large UK banks don't seem to be doing any better than they were a fortnight ago in terms of their lending to small businesses. I think we've discovered a way to fill the vacuum'.

And, in what would be good news for small businesses across the UK, it seems that the idea might be catching on. In the past few weeks a number of other councils have started to explore the possibility of following Essex's lead. The councils include, Birmingham, Manchester, West Sussex and Kent.

If you missed the issue, click on the link to read the original piece on the Bank of Essex. There's also an article on the subject of community banks from The Times here.

Finally, as this is the last newsletter of 2008, I'd like to wish everybody a very Merry Christmas and a bountiful New Year.

Thanks for reading in 2008, we'll be back in January.

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How to keep winning clients during a recession
There are two key things small business owners should look out for throughout 2009. The first is to hang on to the clients you already have. Do whatever it takes to keep them, as it will cost your business much more to win a new client than hang onto an existing one.

Secondly, get out there and keep winning new clients. It is businesses that are proactive and keep drawing lots of attention that will sell their way through this recession. Here are five ideas to help you to win clients in a recession.

Tips to make your business more efficient in 2009
With 2009 predicted by many to be "not a particularly good year" in a general economic sense, this could be a good time for you to improve the efficiency of your business.

By making efficiency savings in all areas of your business, this will not only compensate for any downturn in trade, but will also set in place good practices to help ensure the longer term success of your company. Here are some ideas to help you streamline your business, and save both time and money.

Simple rules to follow when creating a business plan
Your business plan is arguably the most important document that your business will ever create. So why, oh why, do so few businesses take time to sit down and write one?

For the uninitiated, creating a business plan can be a daunting task. But this document really is not that scary. Just follow a few simple rules and you can create a professional business plan that will have investors knocking down your door. Here's how.

Public Liability Insurance - Is your business covered?
Public liability insurance will cover your business if you are sued by a third party for accidental bodily injury or property damage. It will cover your company in the unfortunate event of injury or even the death of a third party. Should you be covered?

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SMALL BUSINESS NEWS

Big banks continue to announce funding support for small businesses
Following months of negative headlines, and a great deal of Government pressure (and cash), the major high street banks continue to announce their intentions to support small businesses with new funding and support.

Business owners lose faith in Gordon Brown's leadership
The number of business owners who feel "better" today under Gordon Brown's leadership compared to when he first came to power has fallen through the floor as the realities of the recession become more apparent and faith in the PM fades away.

Entries open for 2009 UK Enterprise Awards
Entries are now open for the 2009 UK Enterprise Awards - aimed at individuals and organisations who provide support to entrepreneurs and small businesses.

Make sure you're registered with HMRC to avoid tax return problems
HMRC have set up a fast-track service to issue Unique Taxpayer References for self-employed people who need to complete a tax return before the 31st January deadline. The service is aimed at people who were self-employed during the 2007/8 tax year, but have not yet registered with HMRC and received a UTR.

Dragon urges small businesses not to shy away from networking
New research suggests that over 80% of senior decision makers at small businesses have reduced the time spent at traditional face-to-face networking events for fear of being out of the office for too long. This comes despite the fact 76% believe networking is more important during the economic downturn.

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

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