Keeping track of income and expenditure is vital to the financial health of any business, as is complying with the demands of the taxman. Although we have tried to ensure that the information is accurate and up to date, it is advisable to take professional advice before making any important decisions. (For local companies please select your area from our regional pages.)
Financing a new business can be a challenge, particularly in the current economic climate. However, without enough capital, a new business will shrivel and die very quickly. The previous chapters should have helped you identify what will be needed for your business to start, and then to succeed. The next step is to ensure that you have enough money to support both you and your enterprise.
Business advice articles for small business owners and new business start ups. 'You don't know what you don't know' is an old saying but wholly relevant here. Your chances of success will be dramatically improved if you are prepared to learn from those who have already trodden the same path or who earn their living from helping start-ups.
There are numerous areas of the Law that may prompt you to seek professional legal assistance. Company/commercial issues, agreements/contracts, terms & conditions, company and business sales and purchases, company incorporation, business contract advice, joint ventures, partnership agreements, mergers, commercial property and much more.
Networking is a vital part of marketing and it's low cost too! People who say they are too busy to network are missing out. It's easy to get trapped behind a desk but that is how you can miss opportunities. Networking allows you to meet like-minded people, to share experiences and to increase your list of contacts. (Also put on weight if you are not careful!)
A Google search for the term 'business opportunities' returned over 750 MILLION results - but which one will suit you? Looking for a genuine business opportunity that will suit your skills, fit your budget and give a realistic chance of earning a living (let alone make you rich) is a mammoth task and one that you should be taken slowly and carefully.
When you are excited about the prospect of starting your business, the planning stage can seem tiresome, however I cannot overstate the importance of this part of the process. Researching your idea thoroughly, preparing a business plan, and a cashflow forecast are vital components of a SUCCESSFUL business (even if you do not need to approach a lender for money - remember, this is for YOU)
Motivation is key to success. Running a business is easy when everything is going well but what about those times when you hit obstacles or don't feel at your peak? This section is designed to help you identify some of the common hurdles and offer ways to overcome them. The articles contained cover various aspects of business thinking and offer some relevant hints and tips.
Location, location, location! Deciding where to run your business could be determined by the nature of your work, running a restaurant from home is probably not a good idea and a window cleaning business is unlikely to need swanky offices! This selection of articles should help you decide whether to work from home, lease or buy a property, or use a virtual facility.
For most people, the reason for choosing a particular business structure will depend on its size, potential liabilities and the market the Company will be trading in. Certain businesses seem to fall more commonly into one of the categories than any of the others, for good reason and affects the personal liability of the owners for the debts of the company.
Starting up in business can be expensive and it is tempting to cut corners. Design is an area where this is probably the most common - but be aware that it can be detrimental to your sales. The general perception seems to be that graphic design is all about making something look pretty and that anyone can do it. In truth, it is about communication - getting the right message to the right people.
One of the most common phrases associated with starting a new business is "you don't know what you don't know". Learning from others, whether this is in a classroom, at a networking event or online, can uncover the things that you don't know. Even after you have started, we would strongly recommend that you are open to increasing your knowledge further.
If you are thinking about employing a member of staff for the first time, it is worth considering the legal, health & safety, and taxation implications. This is a major step, which requires personal and financial commitment. It is therefore vital that you are fully aware of the benefits and the potential pitfalls before advertising your first vacancy.
A list of franchising articles for small business owners and new busineess start ups. The opportunity to start a business with the backing and support of an industry expert should increase your chances of success. However, there is usually a major financial investment required and these articles are designed to ensure that franchising is the right option for you.
In general, health and safety laws apply to all businesses. As an employer, or a self-employed person, you are responsible for health and safety in your business. Health and safety laws are there to protect you, your employees and the public from workplace dangers. For many businesses, all that's required is a basic series of practical tasks that protect people from harm...
Technology Advice & Information, Computers, IT, Telephones, Office Machinery. The modern business world is driven by I.T. (Information Technology) but what do you really need to make your own venture run smoothly? The choices have grown incredibly in recent years and can become baffling without some guidance...
One of the biggest challenges when you are a business owner is how to find new customers. This is true whether you are a new start-up or an existing business, which has slowed down or wants to expand. You will be amazed at how many different 'special offers' you will receive when you open for business but beware - the majority will take your money but not generate the results that you hope...
Search Engine Optmisation (SEO) articles for new business start ups. SEO is another area which appears to be flooded with 'experts' just dying to part you from your cash in return for big promises to get you to the top of Google. Sadly, most are unlikely to deliver value for money but there are steps that you can take to find the good ones and changes that you can make yourself that will definitely help...
In days gone by, staff wages would have been handled manually with someone writing in a ledger and handing out hand-written payslips with cash in an envelope. Modern software has now meant that this can be a thing of the past and can be handled more reliably and at minimum cost. The question is what do you need to know and which solution is right for you?
As they say, "you don't get a second chance to make a first impression". For many of your clients, the first time they encounter your business will be via a letter, flyer or advertisement. It is vital to make sure that your printed message is as strong as if you were there in person. Here are some articles which should steer you in the right direction...
Whether you like the thought or not, the having ability to sell will prove to be a distinct advantage. However, this does not mean that you have to become hard or pushy - in fact the best salespeople are often the complete opposite. Selling is the art of finding out what a customer needs and satisfying those needs with the benefits of your product or service - not forcing something on them that they do not want or need...
A series of articles outlining seven common business mistakes to avoid: Lust, Sloth, gluttony, Wrath, Pride, Greed, and Envy. They are written in a slightly 'tongue in cheek' style but they all deliver powerful business messages which apply to all businesses regardless of size or age. Kindly supplied by Jane Buswell of Business Fulcrum.
For peace of mind, please carefully consider whether your business needs insurance. It is one of those costs that sometimes can be 'saved' but then prove costly later. The types of insurance that you may be applicable are: Public Liability (essential if you are dealing with members of the public), Employers Liability, Professional Indemnity, Key Man, Director's Insurance, Equipment, Buildings & Contents Cover, Motor Insurance, Goods in Transit, Legal Expenses Insurance.
Too many start-ups fail in the early stages but this does not have to apply to you if you start the right way. Thankfully, there is plenty of professional support available but it is also possible to learn what works and what doesn't from people who have trodden this path already. The more time you spend preparing for launch, the better the chance you will have of success.
Starting a business often means that finances are stretched to their limits. One area that you may be able to make savings is on your utilities bills. Rates for services like gas and electricity vary between utility providers and it is well worth checking the rate that you are paying is the cheapest rate possible. Your telephone, mobile and broadband can also eat into your profit unnecessarily if you are not careful.
Web design articles for small business owners and new business start ups. A website can either make or break your business. A well designed website with all of the important aspects included can be all you need to sell your product/service to your target market and get plenty of traffic/conversions. However, a badly designed site missing the essentials could be costing you lots of money!
Useful information for women thinking of starting their own business. Women want to call the shots by running their own business. They're recognising that being their own boss gives them control and allows them to balance their work and family life. Mothers often tear their hair out trying to balance earning a living with bringing up their children, and need more flexibility from their work. Setting up their own business can be the solution.
Some useful resources if you are thinking about working from home. Working from home offers many advantages and is an attractive option for today's budding entrepreneur or teleworker. Being able to work at your own speed, in your own environment without the daily commute is encouraging an increase in home-working initiatives and "bedroom start-ups".
As we cannot be experts in every relevant subject, we would love to receive
'guest' articles that may be of interest to anyone thinking of starting their own business.
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