Business121 Small Business Newsletter #83

In this week's Business121:

1. Think positive and become lucky
2. National Insurance (NI) Guide for Small Businesses
3. How to get your business working on the road - Mobile Working
4. Offshore tax amnesty - time is running out to comply
5. Overseas tax 'amnesty' not what it seems
6. Young Rural Entrepreneur of 2007
7. Check your tax code - you may be entitled to a refund
8. Half Britons would like to be their own boss
9. Employers should keep an eye on "blogging" employees!

Think positive and become lucky

Does luck play a part in making a business a success? And if it does, is it possible to increase your luck?

An interesting piece from The Times explored these questions - and it seems that most people agree that luck does play a part in business success.

Doug Richard, the ex-Dragons' Den panelist firmly believes that luck plays a part, “I tend to the view that luck presents itself as unexpected opportunities. Luck frequently comes in the form of the thing you did not expect and therefore the only way you can prepare for luck is not to be blind to opportunity when it presents itself. Be open to everything round you, don’t shutter yourself."

Personally, I've always been a believer in the notion that you make your own luck. One of my favourite comments on the subject is the famous quip from one of golf's greatest ever exponents, Gary Player.

For those of you not familiar with golf, Gary Player won a world record 163 tournaments in his career. For comparison, Jack Nicklaus, who is widely-regarded as the best golfer ever, managed only 100 career wins.

When Player, was being interviewed after winning the US Open in 1965, a member of the media had the nerve to imply that he had “got lucky” during the competition. Player quickly replied, “You know, it’s quite amazing. The more I practice, the luckier I get.”

You can read the full Times article here;
http://business.timesonline.co.uk/tol/business/enterprise/article1844570.ece

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National Insurance (NI) Guide for Small Businesses
National Insurance is a deduction from earnings, set up originally to fund various State benefits such as the NHS, the State pension and other welfare-related schemes. In reality, it is just another tax. In fact, as standard income tax rates have remained constant for many years, NI rates have soared. In this article we look at how NI works, and what your liabilities will be as a small business person.

How to get your business working on the road - Mobile Working
More and more people are working away from the office, both at home and on business trips in the UK and abroad. To help businesses to get to grips with mobile working, a series of online videos have been made available.

Offshore tax amnesty - time is running out to comply
Following on from our recent story which detailed the HMRC tax amnesty on offshore bank accounts, there are only a few weeks left before the "amnesty" expires. Taxpayers who fail to notify the taxman that they have previously undeclared income or capital gains by 22 June can expect to come under the spotlight. Here's some more detail on the "amnesty".

Our previous coverage of the 'tax amnesty' includes;

Overseas tax 'amnesty' not what it seems
HM Revenue & Customs' decision to offer an 'Offshore Disclosure Facility' rather than an 'overseas tax amnesty' will ring warning bells for those business owners with money held overseas.

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SMALL BUSINESS NEWS
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Young Rural Entrepreneur of 2007
The search is on to find the Young Rural Entrepreneur of 2007. A cash prize of £10,000 is up for grabs to anyone under the age of 35 who is helping to boost the UK’s rural economy amid an ever changing rural landscape.

Check your tax code - you may be entitled to a refund
Many taxpayers do not know they may be paying more tax than they should. Others may not be paying as much as they should and may not realise that they have a responsibility to let HMRC know.

Half Britons would like to be their own boss
According to research released today by EO London, entrepreneurial spirit in Britain is stronger than ever with half (50%) of all adults in Britain having considered starting their own business.

Employers should keep an eye on "blogging" employees!
A new survey has revealed that more than a third of ‘blogging employees’ are posting information about their employer, workplace or colleagues on personal blog site.

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

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