Small businesses are less likely than larger businesses to offer zero hour contracts when hiring. In research carried out by the Federation of Small Businesses (FSB), it was found that employers within the small business sector tend to steer clear of non-guaranteed hour contracts. It was also found that small businesses were already paying the new National Living Wage (NLW) of £7.43 before it rose in April. This makes small business a good choice of employer.
We’ve all heard the stories of companies that started in a garden shed to eventually be sold to Google for billions. So many founders and aspiring entrepreneurs share this dream. But building your start-up for a trade sale takes a lot of forward-planning. Where do you even start?
If you have a passion for making music, starting a recording studio business may seem like a dream enterprise, especially if you already have experience of recording in your own home studio. Helping unknown artists on the path to success is an exciting prospect. However, starting up a professional recording studio is not easy. You need to be aware of what is involved and make sure that you are fully invested.
It should be every businesses priority to get exposure and be easily found online. When you are trying to be easily found online, SEO is key. However, SEO can take a long time, continuous hard work and sometimes can even cost money. Therefore, you will need to also invest time in other methods to make your business easily searchable that will work a little quicker. A great way to make your business have a prominent place on Google is by setting up a ‘Google My Business’ page.
The Federation of Small Businesses (FSB) has carried out research looking at small businesses reaction to new credit. The study carried out had just under a thousand small business participants. One in three of those businesses say that the new credit is unaffordable. It’s making them hesitant to borrow funds, which are vital for growth. These findings come just ahead of Bank of England’s decision to raise interest rates in the UK.
Whether you are a one-man band or the proud owner of a restaurant empire, you can leverage technology in your business. retail POS systems level the playing field between David and Goliath by making technology more accessible — it was previously only an option for larger companies.
Starting a business can be an adventure, even more so when you have just graduated. After leaving university, for the first time you are exposed to the real world. It’s also the time that you make the moves and take the steps to define the person you are going to be and the career you will have. You might be ready to dive into an office job by being an employee or you might have ideas that could make you your own boss.
Training your staff is incredibly important, whether it’s a new employee or a manager that has been with your business for years. Members of staff need to feel like they are growing their skillset and are taking steps to progress in their career. By encouraging and implementing training in your small business environment, you will be able to retain good quality employees. Training your staff can also help you prepare for any skills gap that may become a problem due to Brexit.
First and foremost, dismissing an employee should always be the last resort. An employee is or should be, an asset of a small business. There may be reasons why an employee is not performing or has caused an issue, however, you should try to get to the bottom of this before making any decision to dismiss them.
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Gender pay gap in the workplace is an issue that has been high profile and has had extensive media coverage. It’s a problem that has been plagued and needs to be addressed. Although many big companies have been forced to make changes to their unequal and unfair pay policies, small businesses also need to take notice.
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The secret to success in business isn’t getting customers, it’s keeping them. Developing brand loyalty is essential for anyone who wants to succeed. At its core, brand loyalty means that customers are dedicated to using your product for their needs, showing it off to their friends, and sporting your logo on their clothing. If you get brand loyalty, the sky’s the limit and growth is inevitable. How do you get to that point, though? Here are four key parts of what it takes to build brand loyalty, highlighted by Arc & Co.
The name of a business combined with the business brand make up a company’s identity. Picking the right name for your small business can be challenging because having the perfect name can actually effect your chances of succeeding. You need to find a name that is unique, easy to remember, easy to spell, that represents your business and can actually be trademarked. There are a lot of things to consider, so picking a name for your business can be a daunting process.
In the latest research conducted by the Federation of Small Businesses (FSB), it was found that small businesses need innovation to narrow the productivity gap. As a result of this research carried out, the FSB are calling on the government to introduce a new tax credit. The lack of innovation within the UK small business sector is worrying and is having a negative impact on the overall productivity. With innovation, small businesses can grow and thrive.
Franchising is gaining popularity in the modern society due to its numerous benefits. Essentially, a franchise is a permit offered by a company to authorise you to do a particular commercial activity. For instance, a franchise authorises you to use the products, services and brand name of a specific existing company for commercial purposes. The franchisee gets the franchise from the franchisor. This gives the franchisee an opportunity to sell the franchisor’s goods or services. The franchisor communicates or provides everything to operate a franchise. Opening a franchise is easier than starting your own enterprise. The franchisee enjoys brand equity, marketing and operational support.
Unless you’ve been hiding under a rock, you’ve probably heard about cryptocurrencies. The meteoric (and overinflated) rise of Bitcoin has firmly planted the disruptive technology in the minds of everyday consumers. And as a result, many companies looking to raise money for their business have probably asked themselves whether they should be running an ‘Initial Coin Offering’, or ICO for short.
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In a recent study conducted by Advanced, it was found that small business owners are on the brink of a burnout due to their heavy workload. SME leaders and managers are close to hitting the boiling point because of the stress and pressure that comes from running a small business. These are issues that can be controlled and maintained. Small businesses are the backbone of the UK economy, and without healthy small business owners to run them, the UK economy could be in trouble.
According to a recent study, employee engagement across the workforce is at a historic low. Many employees cite disengagement with the work they are tasked to perform each day, due to a variety of underlying causes. It could be they are not content with their current job position, or that they do not feel completely connected with the employer on a broader scale. Regardless of the root cause, employers and their HR departments are recognising the pressing need to improve employee engagement – and fast.
It can be a real challenge for start-ups to become legitimate businesses, or at least look the part. There’s a certain image that must be attained in order to be taken seriously, and that usually takes time. But there are short-cuts you can take so that your small business can create the big business image you are aspiring to. You just need to know what steps to take, where to spend money, and where to invest your time and efforts and you will see what a difference that can make.
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As a manager, it is your responsibility to promote employee wellbeing in the team. If the workforce is demotivated, stressed and not building positive relationships, the team’s productivity and efficiency will suffer as a result.