January 27, 2012
Filed under: Business Advice,Business Tools — admin @ 10:05 am
In order to be competitive in the business world a business owner has to be aware of what is going on around them at all times. This means that they have to stockpile competitive intelligence to make sure that they continue to offer a product or service that is unique to the industry. Therefore, if you want to stay ahead you have to make sure that you always know what other businesses are up to which requires a certain business technique/strategy that is known as due diligence.
Due diligence essentially means taking the time to carefully scan through the financials, strategies, and any other information that is floating around on social networks about your competitors because any stone left unturned could be the stone that allows your competitor to get ahead.
There is a reason why there are consultants trained just to handle competitive intelligence for a company, because there are millions of leads out there and until they are all uncovered it is hard to tell which one will prove the most helpful.
Of course, most small business owners cannot afford to hire a top consultant in order to compile information for them, but now there is no need because in the age of the internet most of the knowledge that is needed is out there floating around the web. From public records to social networks and reviews from the business world from partners and clients it is now easier than ever to gather the information you need, without sacrificing any level of due diligence in the process.
There are even some websites set up that are created to help business owners with their due diligence, compiling information into one easy location so that you can review it as needed on a regular basis. By taking advantage of these unique sources of information you can strengthen the competitive intelligence of your organisation so that you stay sharp and a main contender in the business world.
Plus, as a perk, you can read what others are saying about your business so that you gain perspective on your own business and where you could make changes to better your public image.
January 26, 2012
Filed under: Business equipment — admin @ 9:50 am
We take a tour through simple ideas for creating a great balance between work and play
When it comes to building a strong office environment – whether that office is nestled in your house or on the twentieth floor of a plexi-glass iron-plated building – there are certain principles which remain the same.
Underpinning the productive working environment is the atmosphere, the furniture and the attitude towards the work itself. All of these elements are essential considerations in building a space where individuals will be energised and excited to work.
For many of us, whether working with computers or on drawing boards, plain paper or hand-held devices, it is all about the right type of office desk. Ryman have a good range, and any large, central workspace is usually typified by a desk or table shape – so this piece of furniture is no insignificant thing. Take a look at their range by clicking the link.
Alongside considering the interior architecture of the office – separate offices? Cubicles? Huge open plan areas? – you also need to have a very careful eye on what kind of desk all this productive work is going to be done around.
Cool, raw untreated wooden tables and benches are gorgeous to look at – and perfect for a picnic – but you’ll have to consider the shape, height and comfort of such items if you are designing a trendy new office.
Will you have a lot of wires through the desk? Do you therefore need to consider having holes or gaps to accommodate them? It may be cheaper to buy several huge communal desks – but will this aid your work environment? Will it develop and stimulate your employees?
And what about lighting? This is an essential consideration. Many modern offices fail to take advantage of natural light. Many are built with huge amounts of glass and open windows – and then nullify this by utilising far too many blinds, creating dingy workspaces, which then necessitate glaring neons.
For more information on this important point read this useful article on how to achieve proper lighting in your home office.
January 25, 2012
Filed under: Business Finance — Alan @ 3:01 pm
Many government buildings are sat idling and the Government is moving to sell them if possible. Where this is not possible, they are announcing that they will be available on single year leases, at low rates, to businesses. The Prime Minister said that they have office space available and that it will be made available to those who can use it; to match capacity with need.
There are more than 300 buildings owned by the Government that are not currently in use. It will be up to the tax-payer to subsidise the cheap leases, available only to smaller firms. A specialist organisation will be set up in order to both manage and to allocate the available space.
David Cameron is encouraging people to start up their own businesses in an attempt to kick-start the ailing economy. This is just the most recent step in the “Business in Everyone” initiative. Possible entrepreneurs are to be encouraged via tutorials, seminars and workshops, in a variety of free services provided by the government to small and medium enterprises.
This “Business in Everyone” campaign is being backed by many organisations as well as the Government, such as the FSB, Startup Britain, CBI and the Social Enterprise Coalition.
Filed under: Business Finance — Alan @ 2:59 pm
It continues to be a bad time for small and medium-sized businesses in the UK. The latest report provided by the Bank of England has shown that business lending has gone down again in the quarter to November 2011. Similarly, levels of lending for households have remained static in the same three month period.
With economic activity already low, these figures from the Lending Report for January, courtesy of the Bank of England, lead to concern that the already tight conditions are going to get worse.Trouble with wholesale markets has been blamed for the increase in costs for business lending. Many of the major lenders in the UK have reported that it is higher costs of funding wholesale banks that have been feeding through to the prices of loans on new business.
This has been the case for the fourth quarter in 2011, and it doesn’t seem likely to change in the near future. Demand for credit is becoming subdued, with the difficulty in obtaining it being cited as the reason.
Banks are lending the minimum that they can to small and medium enterprises. This means that many viable businesses are being crushed because banks are saying no to lending. While banks are not expected to give money to businesses that are not viable, too many are being left without the required capital.
The consequences of this are that businesses are forced to take drastic action, such as either selling shares that they would prefer to keep hold of, or to take short-term loans that come with cripplingly high-interest rates.
Banks are disputing that they have not been lending however. The Commercial Group Director of Lloyds said that his bank was lending, and had in fact increased lending to smaller businesses by 2%, meaning a total of £9.6 billion given out.
January 24, 2012
Filed under: Business Advice,Legal — admin @ 4:24 pm
Accidents occur in the workplace every day in the UK. Every year, in excess of 150,000 work-related injuries are reported across the country. Over two million individuals are believed to suffer ill health resulting from their employment, and 250 people die in the workplace each year.
The majority of workplace incidents can be prevented through Health & Safety law compliance. Through sending employees on health and safety training courses, a small business can protect itself and its employees, potentially saving thousands of pounds each year through a reduction in insurance claims and premiums and losing fewer working hours. It could also boost staff morale and productivity.
Accidents at work can happen at anytime and anywhere, and so all small businesses should be fully prepared.
Current Legislation
The Health and Safety at Work Act 1974 forms the basis of Health & Safety legislation. Under this legislation, employers must “so far as is reasonably practicable” safeguard the health, safety and welfare of employees in the workplace.
Under the Management of Health and Safety at Work Regulations 1999, small business owners are required to assess risks to employees in the workplace. The regulations require small business owners to identify the measures required to adhere to Health & Safety laws and to appoint capable individuals to aid them in taking the appropriate measures. Directors and managers of all small business can be held responsible for their failure to abide by Health & Safety legislation.
Employers with a minimum of five staff members must have a written health and safety policy, and all employers must provide Health & Safety training to their staff.
Types of Workplace Injuries
Workplace injuries can be caused by a single, traumatic incident or may build up over a period of time. Common non-traumatic injuries sustained in the workplace include: lower back pain, caused by poor lifting techniques or sustained bad postures; repetitive strain injury (RSI), caused by repetitive movements, such as the prolonged use of computer keyboards; headaches and neck aches, caused by poor posture and incorrect VDU positioning; and carpal tunnel syndrome, caused by repeated activities that put pressure on the nerve in the wrist, including work on production lines and prolonged computer use.
Ways to Train Staff
Health & Safety does not have to be expensive or time-consuming. Small business owners must ensure that their employees are adequately trained in Health & Safety procedures and are capable of spotting hazards and understanding the ways in which to prevent or minimise risks to themselves and to others. Posters prove an effective yet affordable way in which to communicate risks, with some safety notices being required by law. Employers can send their staff on health and safety training courses or take advantage of in-company training. Training courses can be adapted to the needs of small businesses, and staff can take extensive courses to minimise the impact their training has on their other workplace responsibilities.
The Cost of Workplace Accidents
It is essential for small business owners to note that their accident insurance will typically only cover a proportion of accident costs. Costs that fail to be covered may include: sickness pay, temporary labour, damages to materials, equipment repairs, temporary staff wages, fines for breaching legislation and investigation time.
Filed under: Business Advice — admin @ 4:20 pm
Freelance contractors are often obligated to form an independent company in order to meet compliance regulations. Paperwork, understanding allowable claimable expenses and non-claimable expenses that can be used to offset tax liability, handling payroll and making sure you’re compliant add hours of time to jobs, cutting into both personal time and profitability. Why trade the convenience of freelance work for the trouble and headaches of being overwhelmed by administrative duties?
Employment involves a certain amount of normal and expected time away from home and family. Freelancers who work away from home on temporary contracts are entitled to allowable expenses which help offset tax liability, but the time it takes to record and file all the paperwork, keep accurate records and run a payroll may take so many hours that your spouse and children could forget who you are. An umbrella company can bridge the gap between the flexibility and convenience of independent work and complying with all the complicated regulations regarding tax collection and expense claims.
An umbrella company allows you to keep the freedom of being a freelance contractor while removing the liability and responsibility for the keeping of records, calculating expenses and tax liability, and running a payroll. With so many complicated compliance regulations and the constant danger of audit, why risk running into legal issues? Contracting with an umbrella company allows independent contractors to be paid under a PAYE scheme, removing the hassle and worry of tax liability and withholding. Simply keep your receipts and hand over your timesheets and expense reports, and wait for your cheque to arrive.
An umbrella company acts as an employer in the eyes of Inland Revenue, allowing a contractor to receive regular pay cheques, yet it still allows a freelancer to retain the freedom of negotiating independently with clients.
New freelancers or employees taking temporary contracts between permanent positions may find that the services of an umbrella company can make temporary contracting simpler and far more efficient. When an employee first decides to go out on their own as an independent contractor, there is more than enough work involved in establishing themselves. Contacting potential clients, landing contracts and completing high-quality, efficient work all takes time. Add in running a payroll and all the record keeping, filing and compliance issues that go along with the administrative side of creating an independent limited company, not to mention the hassle of creating and running a payroll system, can make it nearly impossible for an independent contractor to successfully create a viable business. An umbrella company can be the stepping-stone that helps a freelancer make the transition to running a limited company. Once a company is established, an umbrella company can provide efficient, cost effective management of payroll, tax compliance, invoicing of clients and, in some cases, insurance cover.
With the pressure and stress of administrative tasks greatly reduced, a business is freed up to concentrate resources, time and staff where they can bring in the most return for the time spent, making for a much more efficient and profitable operation.
Courtesy of Crystalumbrella.com
Filed under: General — Alan @ 1:50 pm
Business energy users who think they have been issued with incorrect bills from their suppliers or overcharged in any way have been urged to contact the Energy Advice Line where they can receive free help and advice. The leading price comparison and switching service for UK businesses has confirmed that a report has found that thousands of consumers are mussing out on compensation or refunds due to billing mistakes.
The report comes from Which?, the leading consumer organisation, and shows that the big 6 energy companies received over 4 million complaints last year from unhappy customers. The most common issues that complaints were made about were inaccurate meter readings and mistakes made on bills.
It suggested that because many customers failed to pursue their complaints, they were losing out on up to £4 million in compensation.
Julian Morgan, managing director of the Energy Advice Line, the UK’s leading price comparison and switching service for business, said business electricity and business gas customers were in the same position as domestic consumers when it came to billing mistakes.
“Business energy supply companies make mistakes, we know that for a fact, and sometimes these issues go unresolved for so long that customers just get worn down and give up,” Mr Morgan said.
“We help our customers who are switching suppliers resolve these issues by taking them up directly with the utility companies on their behalf. Sometimes because they have dragged on for so long these problems can be difficult to unravel, so having experts on board can help enormously.”
Sally Atherall had given up hope of resolving a dispute with British Gas until she called the Energy Advice Line. One year after she had sold her dog kenneling business, British Gas had sent her a final business energy bill demanding £3,260.
Sally knew the bill was wrong and spent many fruitless, stressful and tearful weeks trying to convince the supplier they had made a mistake. But her complaints were rejected and British Gas insisted that she pay. Sally said they began “pestering” her for the money so much that was too stressed to answer the telephone.
As a last resort, she contacted the Energy Advice Line for help.
“I began to feel helpless, hopeless, tearful and alone,” Sally said. “Fighting against British Gas was useless on my own. I decided to ring the Energy Advice Line one day to try to gather more evidence, as they had arranged my electricity supply for several years.
“What a relief. I told them my story and they offered not only to help me, but to take the case on for me and deal with British Gas on my behalf. They even took time to ring me back to check I was OK as I had sounded upset.
“Eventually, the complaint was brought to the director of customer services for British Gas. They still insisted that I owed them the money and sent me a CD of the voice recordings made when I had telephone them with meter readings in the past.
“A copy of the CD was also sent to the Energy Advice Line. On playing it, they realized that British Gas had used the wrong ‘start’ reads to create my bill. I do owe British Gas a small amount of extra money but nowhere near £3,260.
“British Gas doesn’t care about their customers and have no idea of the heartache they cause when they get it wrong and refuse to listen. Even now, they have not offered one word of apology.”
The Energy Advice Line has also urged business energy users to check their bills to ensure they are being charged the correct level of VAT.
The VAT on electricity and gas for business energy consumers is normally charged at the standard rate of 20% (correct as at 4 January 2011). However, some firms that meet so-called de minimis requirements are entitled to pay VAT at a rate of only 5%.
To meet the criteria for this lower rate, a business must use no more than 33 kWh per day on average for business electricity and/or less than an average of 5 therms or 145 kWh per day for business gas.
Firms that believe they have been paying too much VAT, or have other billing issues, should contact the Energy Advice Line on 0800 915 1800 or visit www.energyadviceline.org.uk
January 20, 2012
Filed under: General — Alan @ 4:16 pm
Boris Johnson, the Mayor of London, is working with businesses in London so that they can smoothly plan for the arrival of the Olympic Games and is working with them to make sure the games are as profitable for them as possible.
He recently hosted a breakfast which several business leaders attended, including chief executives from companies such as HSBC, BMW, Fortnum & Mason and Marks & Spencer. There were also senior managers present from some of the largest hotels in London as well as other banks and supermarkets. He reassured those at the breakfast that he would be continuing to work with them to ensure they reaped the greatest benefit from the Games.
At the breakfast, he was listening to them to get ideas about what information they needed regarding the Olympic Games. Mr Johnson has recently been working with Transport for London and has established a website offering transport information for those looking to take public transportation during the Games.
He has also been working with BT to increase the number of internet hotspots across the city so that people can work more flexibly.At the breakfast he also thanked members of the private sector for their sponsorship investments that they’ve made into the capital city as a result of the games. Over £60 million has been invested, which has greatly reduced the burden that the taxpayer has faced.
He stated, “Our businesses are a core part of the success of the Olympic Games and we want to maximise the opportunities available to them. This is going to be a summer that London has never seen before and we are hoping that businesses will be able to benefit from this unique opportunity.” Many other key figures involved in arranging the Olympic Games were also present at the breakfast.
January 17, 2012
Filed under: Marketing — admin @ 12:17 pm
A printed t-shirt is a great way to get attention for your event or organisation. You can choose from v-neck, crew neck, heavyweight, long sleeve, ringer and many other styles. Make sure you choose a memorable graphic and colour scheme to stand out in a sea of promotional clothing. A professional designer can help you come up with a printed design that people will immediately embrace and want to be associated with.
Making a promotional t shirt mandatory for your employees creates an impression of unity in the midst of say – a technology conference. It’s a cheap, memorable way of making a statement about your organisation that others will associate favourably with your products and services. Most organisations use printed t-shirts to create identity and an image of professionalism.
You can also choose ethically and environmentally sound options. For example, t shirts made from Fair Trade cotton are becoming increasingly popular. This “ethical fashion” movement sources cotton bought from farmers at a fair price and is available in all of the same styles and colours as standard cotton.
Another popular option is organic cotton. Organic cotton is classified as cotton grown in subtropical environments which has not been genetically modified. It is grown in much the same way that cotton was grown hundreds and hundreds of years ago. It is also favoured because it promotes biodiversity, which is the measure of number of life forms in a given environment. The more varied, the healthier the ecosystem is said to be.
A good quality printed t-shirt can help to boost the image of your organisation. You can choose the cut, colour, design and fabric to deliver a message to express what your organisation is all about. All of this advertising can be achieved for very little cost and in a way that also helps to boost company moral.
Article Courtesy of Express Garment Printing
January 14, 2012
Filed under: Business Advice — Alan @ 10:23 am
The environmental and social impact of large companies is often being held to account by the government and shareholders of the company. Unfortunately, most of the environmental impact of large companies happens in the supply chain, and not within the company itself. Therefore, people are more than ever looking at ways to influence the supply chain the company uses to make sure that they are being environmentally and socially accountable.
Many people would say that it is the responsibility of companies to make sure that they have sustainable business practices through their entire supply chain. More often than not though other considerations take priority and sustainable business practices are left behind. Sustainability is something that must permeate all levels of the business and one type of sustainability will not work throughout an entire business.
While most people associate a lack of sustainability with large conglomerates, it is often small businesses that are failing the most to adopt sustainable practices. It is easy to cut them some slack with the economy being in its current state, as they are focusing on surviving rather than spend it on something that is largely irrelevant to profit.
However, there are some basic steps that any company can take, no matter what size, to make sure that they are acting in a more environmentally friendly way. For example, let’s examine a company which rents a simple office and only has a few employees. The environmental policies that this company might initiate could actually save them money.
For one, they can show that they switch off all computers and lights when they are not being used and wear warmer clothing so overheating the office is necessary. It is also possible to easily cut down transport costs by asking members of staff to walk or cycle to meetings instead of using a car, this also has the additional benefit that it will cut down the environmental footprint of the company.
It is easy for companies to find ways that they can be sustainable no matter what their size. Unfortunately, it is all too often the case that people demand companies be sustainable in certain ways that sometimes are not appropriate for smaller companies.
Small businesses can’t be expected to have advanced environmental policies but they can do the little things to ensure their business is environmentally friendly and socially responsible. While a large conglomerate might have a policy on biodiversity, it is enough for a small business to simply ensure that they are using their heating efficiently.
More education among the public and companies would be beneficial in teaching people how different environmental standards can be applied to different companies. People need to be aware that small businesses can reduce their environmental and social impact without having to spend a lot of money or hire additional staff.
They must focus on the small things that can make a big difference and this is something that their potential customers should be informed of and be knowledgeable about.
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