Newsletter #170 - Are entrepreneurs born or bred?, copywriting secrets, networking secrets, factoring, and much more...

   

In this week's Business121:

1. Entrepreneurs - Born or Bred?
2. 7 clever copywriting secrets for business owners
3. 5 networking secrets used by professionals
4. Invoice finance and factoring - the pros and cons
5. Which businesses do well during downturns?
6. Guide to data backup for small companies

Small Business News

7. Big jump in company director disqualifications
8. 'Marketing Magicians' event - British Library, London 2nd June 2009
9. How to deal with bad publicity during a recession
10. Small businesses need to manage their cash flow better

Entrepreneurs - Born or Bred?

The debate over whether successful business owners are simply born that way, or if their upbringing has influenced their entrepreneurial leanings continues.

In the latest study of nature vs. nurture, O2 interviewed 500 small business owners as well as a number of seasoned entrepreneurs.

According to the poll, education had little impact on the road to success for many, with just 14% of those surveyed placing significant emphasis on the importance of their formal education on their business achievements and less than a third (31%) had studied business or for a specific business qualification.

The survey also found that 84% of entrepreneurs share a distinct set of personality traits. None of these traits can be learned, rather they form part of the 'entrepreneurial DNA'.

Here are the 5 entrepreneurial personality traits identified by the study. Do you share them?

1. A resilient and 'obsessive' optimism
2. The enjoyment of responsibility
3. A strong desire to succeed
4. Driven by the rewards hard work brings
5. An urge to be self-employed from childhood

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7 clever copywriting secrets for business owners

The ability to passionately sell a product or service in the written word is something that will never go out of fashion. And the reality is that few people will be able to do it as well for your business as you.

5 networking secrets used by professionals

When you've found the right networking events to go to, there are a number of secrets used by professionals to build powerful networks of relationships and turn them into significant sales.

Invoice finance and factoring - the pros and cons

Factoring, or invoice financing, enables small businesses to borrow money secured against invoices they have issued. We look at the pros and cons of a business model that has been round since Roman times!

Which businesses do well during downturns?

Despite the damaging effects of the economic downturn, there are plenty of examples of businesses who are surviving and even thriving. So what kind of business can see turnover go up in a downturn?

Guide to data backup for small companies

Data is the life force of any small company, but few business owners take the time to ensure that if their data was lost, they would be able to retrieve it - quickly, easily and completely. How to strike a balance between absolute security, peace-of-mind and avoiding the cost and hassle?

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SMALL BUSINESS NEWS

Most small companies have not been profitable in 2009

New research shows that 19% of SMEs have not recorded a profit since the second quarter of 2008, and unsurprisingly 55% have not been profitable at all in 2009.

Small business owners warned to watch out for bogus HMRC tax refund emails

Many Bytestart readers may have noticed an increase in the number of bogus HMRC 'tax refund' emails which may have been received in the past few weeks. Includes top ten tips to help spot such bogus emails, and what to do if you receive one.

Free guide to help small businesses secure investor funding

A leading business investment agency has launched a free guide to enable small companies to secure funding in a difficult economic environment.

Why the recession may ignite your entrepreneurial spirit

If the downturn has ignited your entrepreneurial spirit and led to new business ideas, you will find that, in spite of the recession and the grim economic outlook, there is plenty of fertile ground in which
start-up businesses can take root.

Why small companies have trouble securing public sector contracts

Small companies need to spend time on training and development, and need to understand how the public procurement system works if they want to gain a larger share of public sector contracts.

Small businesses unimpressed by Budget measures

Only 1 in 50 small business owners say that the Budget would have a positive impact on their businesses, according to new research.

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

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CLASSIFIEDS
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It's never been more important for SMEs to cut costs by finding great-value suppliers. Research from uSwitchforBusiness.com shows that UK firms are cutting costs by switching to a cheaper electricity and gas provider, saving an average of £1,500. Start cutting costs today - http://snipurl.com/_uSwitchforBusiness

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