Business121 Small Business Newsletter #45

In this week's Business121:

1. August alternatives
2. 7 tips for selling a business
3. Successful marketing on a shoestring
4. Marketing - Finding your market
5. Avoiding the pitfalls of insolvency - 10 'back to basics' Tips
6. New fire laws come into force in October
7. The most unusual International VAT laws of 2006
8. One-To-One insights from Apprentice winner Tim Campbell
9. Businesses think that credit terms are getting longer
10. Surge in online spending at auction sites
11. Businesses urged to adopt simple water saving practices
12. Taxman to get police powers in Revenue's proposals

August alternatives

For many of us August can be a slow month. With so many people on holiday, customers can be thin on the ground and it can be impossible to get hold of anybody. Oh the lazy days of Summer...

But if you're keen to keep working in August, here are some ideas on how you can put this time to work for you.

TRAINING
During busier times, it can be hard to get away from the business and to learn new skills. But quieter times are perfect for stepping back and sharpening those key skills.

ACCOUNTS
I don't meet many small business owners that enjoy doing their accounts, but it's part and parcel of small business life. Much of the work on accounts is preparing all the documents for your accountant at the year-end, so consider timing your year-end just before a quiet period in your business.

PLANNING
With the usual day-to-day jobs to keep you busy, it can be hard to make time for that all-important planning. Use August to get away from the day-to-day grind and spend time working 'ON' your business, instead of working 'IN' your business.

THAT BIG PROJECT
When you're busy it can be difficult to progress those big projects, like a website re-design or developing a new product. But a few weeks of concentrated time can get them finished quickly. Of course, if you're working on a new website you'll need to find a web designer who's equally happy to be working through the Summer, but I'm sure they exist!

STRENGTHENING RELATIONSHIPS
If you've got some key customers, suppliers or partners that you rarely meet face-to-face because they're based a long way away from you, take the opportunity to go and visit them while you have the time. It's always worthwhile investing time in building strong relationships with key partners, and why not do this while your time is less precious?

SPRING-CLEANING
It might not be strictly the right time of year to do some Spring-cleaning but there are plenty of jobs that can be done at this time. If you employ staff why not arrange for your annual reviews to take place in August, and get your Employee Handbook up to date.

Think back and you'll probably easily remember half a dozen jobs that you told yourself you'd do, 'when I've got the time'. It could be changing your bank, finding a new supplier, updating your IT system etc

RE-CHARGE
Or, alternatively, just go with the flow and take the time to re-charge your batteries for the busier times ahead.

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7 Top Tips for Selling a Business
A leading law firm is warning entrepreneurs looking to sell their business not to underestimate how treacherous the process can be.

The first common mistake is underestimating the graft that is involved in the selling process. Most business owners sell just one business, so without personal experience to draw upon here are 7 tips for selling a business successfully;
http://www.bytestart.co.uk/cgi-bin/click.cgi?id=92

Successful marketing on a shoestring
Dragon's Den judge, Duncan Bannatyne tells us that all businesses should allocate a good deal of their resources to marketing their wares. He believes that one of the best ways to 'spread the word' is to work with existing customers;
http://www.bytestart.co.uk/cgi-bin/click.cgi?id=103

Marketing - Finding your market
If you're looking to understand more about marketing and how you can make it work for your business, this article is for you. From finding out about your customers, to positioning your product and generating sales leads here's the low-down on marketing for small businesses;
http://www.bytestart.co.uk/cgi-bin/click.cgi?id=100

Avoiding the pitfalls of insolvency - 10 'back to basics' Tips
With recent statistics showing the number of company liquidations up 17% on the same period last year, it could be a good time to remind yourself of some tried and tested business principles to help you avoid this fate.

Following a few basic rules could dramatically improve your chances of success, so try these 10 ‘back to basics’ tips;
http://www.bytestart.co.uk/cgi-bin/click.cgi?id=99

New fire laws come into force in October
The new Regulatory Reform Order aims to consolidate many pieces of existing fire legislation and failure to comply may result in fines or even imprisonment for owners and managers of UK businesses;
http://www.bytestart.co.uk/cgi-bin/click.cgi?id=98

The most unusual International VAT laws of 2006
Chocolates, equine dentistry and Icelandic literature all attract special attention from VAT inspectors - in fact, the UK VAT system seems positively sensible when compared to overseas tax regimes!

A few VAT quirks to put a smile on your face before the chore of completing your quarterly returns, wipes it right away;
http://www.bytestart.co.uk/cgi-bin/click.cgi?id=96

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SMALL BUSINESS NEWS
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One-To-One insights from Apprentice winner Tim Campbell
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Tim Campbell, the winner of BBC2's The Apprentice in 2005, launches one-to-one business and motivational advice sessions at the British Library's Business & IP Centre;
http://www.bytestart.co.uk/cgi-bin/click.cgi?id=95

Businesses think that credit terms are getting longer
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New figures suggest that businesses are seeing longer credit terms as a legitimate way to extend payment;
http://www.bytestart.co.uk/cgi-bin/click.cgi?id=94

Surge in online spending at auction sites
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New banking data reveals that £2.8 billion was spent on auction sites last year, as the number of people buying on the web continues to surge;
http://www.bytestart.co.uk/cgi-bin/click.cgi?id=93

Businesses urged to adopt simple water saving practices
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New statistics from Envirowise reveal offices are needlessly wasting 310 million litres of water each working day. To help businesses combat the drought, Envirowise has launched ‘Water at Work Week’;
http://www.bytestart.co.uk/cgi-bin/click.cgi?id=97

Taxman to get police powers in Revenue's proposals
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The Times reports that tax investigators will arrest suspected fraudsters, take fingerprints, bail suspects and search people and premises without police assistance under wideranging new powers being sought by HM Revenue & Customs;
http://www.bytestart.co.uk/cgi-bin/click.cgi?id=101

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

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