One of the first things you need to consider before starting up is whether to register as a sole trader (or partnership), or set up a limited company. There are significant differences between the two types of business structure.
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Almost all of us will have to deal with late paying clients and customers at some point or another, but new research from Bacs illustrates just how serious a problem overdue payments have become for the nation’s small businesses.
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We interviewed Alistair Callender, the founder of GATE8, which recently launched an innovative business luggage product which meets the hand baggage restrictions of all airlines. We asked him how he developed the brand, and how early criticism from a serial entrepreneur inspired him to transform the business.
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According to the latest Government data, over 1,000 companies have raised finance via the SEIS since its launch in 2012. So, why have so few business owners heard of the scheme, and what benefits does it offer businesses and potential investors?
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A company’s profit & loss account is a record of all transactions that took place over the previous 12 months, and shows whether or not the business made a profit during the period in question.
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A balance sheet is one of the fundamental pieces of accounting information you will become familiar with as a company owner. It provides a snapshot of your company’s financial situation at a specific time.
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The Data Protection Act 1998 is an important piece of legislation for consumers and businesses alike, and governs how your personal information may be used when you provide a profit-making company with potentially sensitive details such as your name, date of birth and address.
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According to the latest Government data, over 46,000 individuals have set up their own businesses via the New Enterprise Allowance, which provides mentoring and financial support to people on benefits who want to become their own boss.
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An interesting report, Second Generation Family SMEs in the UK, has been released by Barclays and the CEBR. It shows that the number of businesses being passed down the generations has fallen by almost 140,000 since 2007, but despite this, 40% of under 35’s would start up with a family member.
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Following news that HMRC repaid nearly £5bn in Corporation Tax receipts to companies last year, a leading accountancy firm has urged companies to check to see if they are due a refund following a profits shortfall.
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For companies frustrated by persistent late payment problems, invoice financing can provide a useful way of freeing up the value of their outstanding invoices.
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In Company Bug’s very first business case study, we talk to Ella Gascoigne, founder of Startup PR, who describes what inspired her to start her own business, the lessons she’s learnt along the way, why PR isn’t just for larger firms, and how social media has changed the way firms market themselves.
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If you run a business website, chances are you have heard of Google’s Panda and Penguin updates. These friendly-sounding names refer to two algorithm updates that are periodically applied to the pages in Google’s index. If your site is caught by either algorithm, you could suffer a serious downturn in traffic, so read on to find out how these updates came into being, and how keep your site ‘Google-friendly’.
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In an extract from her book ‘More balls than most’, Lara Morgan looks at a variety of successful communication methods, and provides some advice for talking to people in your business.
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In its latest response to the age-old problem of late payments, the Government has outlined a number of measures it plans to implement to reduce the estimated £30bn owed to small firms.
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According to innovation charity, Nesta, the number of crowdfunding platforms operating in the UK grew by 50% last year, providing both potential investors, as well as businesses seeking finance, with almost 90 platforms to choose from.
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A dormant limited company is simply one which is not trading. The company may never have traded before, or may have ceased trading for any number of reasons, without being shut down. Dormant company directors have a number of responsibilities to fulfil to comply with Companies House rules.
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A controversial new Government proposal – the Direct Recovery of Debts (DRD) – could soon empower HMRC with the ability to recover debts directly from the bank accounts of businesses and individuals who have refused to settle their tax liabilities.
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A trade mark is typically a combination of words and images which distinguishes one brand from another. By registering a trade mark, you can legally protect your trade mark from being used by your competitors.
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A leading accountancy firm says that almost half the automatic VAT late filing penalties levied by HMRC last year were overturned upon review, and that the taxman’s systems are automatically weighted against businesses – with fines being imposed regardless of circumstances.
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