In the latest study conducted by the Federation of Small Businesses (FSB), it was found that if small businesses were supported by bigger businesses then they could grow their business through innovative techniques. Innovation is the key to the success and the growth of the business. If innovation is fed through the supply chain, this could significantly help small businesses succeed.
No matter how careful you try to be, your business is sure to face at least some legal issues. Up to 53 percent of all small businesses are involved in at least one lawsuit or a legal issue in any given year, and those events can bring a company to a grinding halt. These four measures will help you protect your business from indictments and lawsuits. Ogborn Mihm highlights the ways in which you can protect your business.
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It is actually quite easy to reduce your business’ carbon footprint significantly. A few simple changes in the office don’t have to cost the earth to implement; it may take some getting used to but change is good for us all. Of course, you can seriously invest in cutting your business’ effect on the environment, which may seem expensive for the initial outlay but actually will save you money in the long term and more importantly reduce your environmental impact. Here are some ways given by Emma Evans from My Power on how to make your small business eco-friendly.
Wired Magazine predicts that coding could become the next main blue-collar job which, if true, means that many small business owners will need increasing number of employees with programming skills in the near future. The problem affecting all businesses is that, without action, the UK could fall well behind other parts of the world in training for the future. This will affect our economy overall as well as our individual businesses.
Running a successful and profitable business is impossible without a strong marketing strategy. After all, a business will never take off without a pool of loyal consumers. Proper marketing techniques can supply your business with just that. And these days, there is a lot to choose from.
Small business owners often make the mistake of believing HMRC only investigate the tax records of big players. Wrong. Last year HMRC were seen to be cracking down on tax avoidance and increased its investigations into smaller firms.
In a recent study conducted by the Federation of Small Businesses (FSB), it was found that the percentage of small businesses that have increased the wage for their employees is the highest it’s been in three and a half years.
Mental health issues can be damaging to the workplace and the business if not dealt with in the right way, so it is necessary to create a culture and environment in which your employees can talk about any issues they are having. It was reported by mentalhealth.org that around 14.7% of employees have mental health issues, and around 12.7% of sick leave can also be attributed to poor mental health.
Fraud is a real problem for businesses of all capacities and SMEs can suffer greatly if they’re struck with fraudulent activity, which is why spotting the signs early can save a catastrophic effect on the organisation.
Keeping on top of your finances is one of the biggest causes of stress for small business owners, as the financial position of a business can really be the make or break point for the future of it. There are many challenges that small business owners face, from building a customer base to being a supervisor or creating and delivering good quality products. As a business owner, you will need to wear multiple hats in order to keep the business running. However, managing your finances may be of particular importance to the livelihood of your small business.
Co-working is becoming more and more popular, with many corporations choosing to do this instead of having a full time, permanent office space. Coworking is about sharing office space with workers from other companies, all doing their own thing in one large, usually open plan, space. It has many benefits, and it looks as though coworking could really become the way of the future. Cornerstone Office Search give us reasons why so many corporations are choosing coworking as their preferred option.
Small businesses often feel pressed for time, money, and human resources, causing them to neglect training, one of the most important ingredients for success. Training can ensure that everyone on your team understands their job and what you expect from them.
Information technology is a vital part of any business and it should be treated as a high priority when it comes to protecting it. Issues such as cyber-attacks, viruses and server damage can be a serious issue for any business that has IT infrastructure on site.
There are millions of apps, varying in purpose and function, whether they are for entertainment or to keep your business organised. When you’re a small business owner you will need to wear multiple hats, and therefore need to make sure to take advantage of all the resources available to you. The best thing about some apps is that they are free or give the option of a free trial, therefore they can give you the opportunity to try before you buy.
With the average UK start-up spending over £22,000 in its first year, finding ways to reduce costs early on can be the difference between survival and going under. Here are some tips on how you can reduce your start-up costs.
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Composing a formal document that will be scrutinised by peers and professionals can be a daunting task or a task one can learn and grow from after progressing with the tips necessary to advance their writing skills. Business writing is often a type of writing people avoid due to the difficulties one may encounter when faced with such a task. However, there are a number of easy to follow tips when taking on a business writing task that will allow people to confidently express themselves while maintaining a professional tone.
The government are wanting to renovate the way we process and submit our taxes through Making Tax Digital (MTD) for VAT. Overall the scheme will allocate every taxpayer with a digital ID, this means that businesses and individuals will be able to manage all their tax activities online, reducing errors and late submissions for a more efficient system.
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For many industries, outsourcing can mean big gains in terms of revenue and can help ease the burden of certain processes along the supply chain. In some cases, outsourcing can save your business big bucks, especially when it comes to labour costs. For example, in information technology, many companies have turned to India and the Middle East regions with highly skilled workforces, relatively weak job markets, and lower costs of living to meet the demand for apt workers who don’t cost as much as workers in the UK or other areas. And we probably don’t have to explain why many companies often look to China and other economies with more affordable labour standards for manufacturing.
Where do you find your motivation, is it by following in the footsteps of your idols, or reading motivational quotes? Words have the power to achieve great things and coming from the right person, have the power to reignite fire in you, and give you the motivation you need.
Opening a restaurant may be a dream – but far too many of them don’t survive long enough to make the dream a reality. According to The Guardian, the number of restaurants closing is up by 20% in 2017. The news is full of ‘restaurant chains in trouble’ stories. However, alongside the demise of the chain, we are seeing the rise of the independent; and the success of Stem + Glory is certainly a testament to that.