Business121 Small Business Newsletter #98

In this week's Business121:

1. Dragons' Den reject scoops SME of the Year Award
2. Why we fear selling and how you can overcome it
3. Exporting - A Guide to exporting for small businesses
4. CGT - selling business assets after 5 April 2008
5. CGT - selling non-business assets after 5 April 2008
6. How company cars are taxed

Small Business News
7. Government plans to extend flexible working right to more parents
8. Dragons' Den reject wins Small to Medium Sized Business of the Year Award
9. gateway2investment funding scheme to be expanded to more businesses
10. FSB launches British Small Business Champions 2008
11. Better access for SME's to government tenders
12. Treasury faces subsidies for small businesses fight

Dragons' Den reject scoops SME of the Year Award

It was heartening to see Applied Language Solutions win, 'The AXA Small to Medium Sized Business of the Year Award' at last night's Orange-sponsored National Business Awards.

I have to admit that until last night I'd never come across Applied Language Solutions the reason that I was pleased for the company and CEO, Gavin Wheeldon is that he'd appeared on Dragon's Den earlier this year, and been turned down by the panelists.

Apparently, the Dragons felt that the business was, 'operating in a very competitive market' and so they didn't, 'see much future in it'. Well it seems that they were wrong, completely wrong!

Applied Language is currently enjoying triple digit growth and has grown from being a 'spare bedroom' operation to a multi-national company with offices in California, Barcelona and Paris.

The company may be in a very competitive industry, but it's a good example of how a business can succeed if it does things better than its competitors. There's no need for a 'breakthrough' product or 'killer new application' every time. If you simply, do things better than anybody else you can build a successful business in any market.

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Why we fear selling and how you can overcome it
The fear of selling is something which most first time business owners suffer from. Selling is not something we are taught in school or shown by our parents (unless you are immersed in business from an early age) and so the whole process is alien to us. In this article we look at what lies behind a fear of selling and what you can do to overcome your fears and sell successfully.

Exporting - A Guide to exporting for small businesses
Exporting to foreign markets seems too daunting for many small businesses but it's not as difficult as you might think. This guide to exporting will help you to develop an effective export strategy, show you how to finance your exporting and tell you where you can go for more help and advice.

CGT - selling business assets after 5 April 2008
The Pre-Budget Report's proposed abolition of taper relief and indexation relief will mean an 80% increase in the capital gains tax most business owners have to pay when selling a business after 5 April, 2008. Here's a summary of the capital gains tax situation when selling business assets after 5 April, 2008.

CGT - selling non-business assets after 5 April 2008
Proposed changes to CGT in the Pre-Budget Report will mean that the CGT rate paid by people selling non-business assets will fall from 24% to 18%. However, the removal of indexation relief means that many long-term holders will end up paying more tax when selling business assets after 5 April, 2008!

How company cars are taxed
In the old days, one of the perks of running your own business was the ability to run a decent car by getting your company to lease it, and take it as a company car. That perk doesn’t really exist any more. Over a number of years the tax rules have changed, to the extent that many accountants now say it is more tax efficient for many business owners to run their own private car and claim mileage expenses.

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SMALL BUSINESS NEWS

Government plans to extend flexible working right to more parents
In the Queen's speech it was announced that the Government is commissioning a review to determine how the current right to request flexible working can be extended to parents of older children.

Dragon's Den reject wins 'Small to Medium Sized Business of the Year Award'
Applied Language Solutions has won The AXA Small to Medium Sized Business of the Year Award at this year's National Business Awards. Rather amusingly, the Dragons' Den panelists passed up on the chance to invest in the company.

gateway2investment funding scheme to be expanded to more businesses
The gateway2investment (g2i) investment-readiness programme for London’s start-up and early stage companies has helped London technology businesses to raise £15 million. The scheme is now being expanded to other business sectors.

FSB launches British Small Business Champions 2008
The FSB has launched British Small Business Champions 2008 - the only national awards scheme solely for small businesses. Entries are invited from thriving businesses that are well run and highly regarded by staff and customers.

Better access for SME's to government tenders
Small businesses have won support from an influential Commons committee for a better deal in the award of public contracts. The backing has been reinforced by a call to the Treasury to take the lead in paying bills faster, reports the Telegraph.

Treasury faces subsidies for small businesses fight
Employers are squaring up for a battle with the Treasury over the detailed terms of the planned new Pensions Bill and contentious proposals to provide "subsidies" for small businesses. Ministers in the Department for Work and Pensions are said to be sympathetic to the concept of compensation to cushion the financial pressure on small businesses, but the Treasury is reluctant to accept it.

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

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