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Naming a business – a few tips from experts

Jul 05 2010

Posted by Gordon as Business Concepts, Business Enhancements, Company Formation Tips, General Management, Off Shore Companies, Strategies, The Sole Proprietor, Tricks of the Trade, UK Companies

In an earlier post, we reported that most UK small businesses are no longer seeing the need to name their companies based on their family names. In the survey conducted by British Gas Business , 74 per cent of business owners now prefer more memorable names that are not related to any kind of family ties in forming their business . According to British Gas Business’ commercial director, Adrian Harvey said “Small businesses have to punch above their weight to compete against larger competitors with more established brands. A company’s name plays an important role in ...

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Tips on raising credit management awareness

May 10 2010

Posted by Gordon as Accounting and Finance, Business Concepts, Business Enhancements, General Management, Strategies, The Sole Proprietor

Business solutions experts reveal that over 10,000 businesses fail every year because of late payments. It is for this reason that the Better Payment Practice Group has embarked on a campaign, the goal of which is to advise businesses to be more alert in noticing signs of a credit management policy that’s about to fail so as not to meet failure with the company they have failed and ultimately throw away the efforts that were exerted in forming the company. Here are some signs/warning signals that would mean the credit management policy of a ...

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Why incorporate?

Mar 01 2006

Posted by J. Angelo as Company Formation Tips, Limited Companies, Partnerships, The Sole Proprietor

You’ve been successfully running a small business for quite some time, and you’re doing it as a sole proprietorship or a partnership. Well, good for you—you’re one of the entrepreneurs who make our economy grow strong (a great majority of economic growth comes from the small and medium business sector). But do give a thought about incorporating. Why incorporate? Well, why not? For one thing, incorporating will create a new legal entity, and can protect you from whatever liability you may have as an individual. You also get some tax perks, which will generally improve the business’ cashflow. It’s not usually difficult ...

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New software helps deal with absenteeism

Jan 05 2006

Posted by Gordon as Business Concepts, Business Enhancements, General Management, Limited Companies, Off Shore Companies, Partnerships, Strategies, Tax Free Companies, The Sole Proprietor, Tricks of the Trade, UK Companies

Based on a survey conducted by the Employment Law Advisory Services (ELAS), about one in four small and medium sized business has had more staff taking sick leaves than it has taken action against. But almost 90 per cent of businesses have revealed that they would actually discipline their workers if they were legally confident in doing so. Armed with this information ELAS has released a computer program that will help employers stay within the bounds of the law. The software, a personnel package, will not only keep a record of a worker’s sick days but also alert ...

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Business cards subject of new research

Dec 26 2005

Posted by Gordon as Business Concepts, Business Enhancements, General Management, Limited Companies, Off Shore Companies, Partnerships, Sales and Marketing, Strategies, Tax Free Companies, The Sole Proprietor, Tricks of the Trade, UK Companies, Virtual Office

According to research done by Prof. Cary Cooper of Lancaster University Management School and commissioned by the Entwistle Group, most business owners choose bad designs that pay no attention to who they are trying to impress. Cooper said that business cards should be “the central part of a company’s marketing material. The Entwistle Group suggests that business owners should design their business cards with a specific set of potential clients in mind. Company formation and business solutions experts say that this is quite a new insight into the subject of business cards. They advice that ...

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Insolvencies expected to peak in ‘06

Dec 24 2005

Posted by Gordon as Business Concepts, Company Formation Tips, General Management, Limited Companies, Tax Free Companies, The Sole Proprietor, UK Companies

According to new research by BDO Stoy Hayward , it is expecting that 18,052 businesses will fold next year. This is 749 more than the figures posted in 2005. But the forecasted economic growth for the next two years will mean that the number of corporate failures will drop to 17,528 in 2007. A total number of 17,303 firms have folded this year with shop owners taking the biggest hit. About 1245 retailers have folded business, which is up from 960 in 2004. This increase is not surprising because of the lowered consumer confidence stores had to ...

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DTI research debunks myths about small business (Part 2)

Dec 24 2005

Posted by Gordon as Business Concepts, Business Enhancements, Company Formation Tips, General Management, Limited Companies, Off Shore Companies, Partnerships, Tax Free Companies, The Sole Proprietor, UK Companies

In a previous blog entry the newly released research of the Department of Trade and Industry on business myths was discussed. The research, entitled Myths Surrounding Starting and Running a Business, debunked a number of myths about starting and operating a small business. Here are some more myths that the research debunked: * MYTH: It would take years to start a business from the ground. * FACT: Most businesses are usually formed within six months. * MYTH: The rejection for business loan applications is so much higher ...

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DTI research debunks myths about small business (Part 1)

Dec 24 2005

Posted by Gordon as Business Concepts, Business Enhancements, Company Formation Tips, General Management, Limited Companies, Off Shore Companies, Partnerships, Tax Free Companies, The Sole Proprietor, UK Companies

The gravity of the risk that is felt by people thinking of starting and operating their own business is vastly inflated, and this is stopping some people from actually taking the next step. This is based on new research by the Department of Trade and Industry, which found that a myth that is spreading among the public is that most small businesses fail within the first year. Actually, contrary to these beliefs, over 80 per cent of new businesses survive after the first year. This finding is released in the Myths Surrounding Starting ...

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Leadership development needed for London’s small business to thrive

Dec 20 2005

Posted by Gordon as Business Concepts, Business Enhancements, Corporate Reviews, General Management, Strategies, The Sole Proprietor

Almost 43 per cent of London’s business owners have said that addressing the shortage of skilled workers is important so that London becomes the best place for businesses and entrepreneurs to thrive. One of the solutions proposes is by increasing the leadership and management skills of senior strategic decision makers. According to the survey one in three people who started and operated a business said that personal mentoring schemes would be their primary training choice in order to help their company’s performance while 42 per cent said that one to one coaching is ...

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Start-ups firms now have easier access to loans

Dec 06 2005

Posted by Gordon as Accounting and Finance, Business Enhancements, Company Formation Tips, General Management, Limited Companies, Off Shore Companies, Partnerships, Strategies, Tax Free Companies, The Sole Proprietor, Tricks of the Trade, UK Companies

Many start-up businesses will now have an easier time getting access to finance as changes to a government loan scheme has resulted in the expansion of the eligibility although the access to young businesses have been limited. Based on the new rules, applicants to the Department of Trade and Industry’s Small Firms Loan Guarantee may now qualify for a loan with an annual turnover of up to £5.6m.

But the new rules will also limit the funding to businesses under five years old as a way of boosting the growth rate of start-up businesses and young firms. ...


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