Froodee

Living. Blogging.

New software helps deal with absenteeism

By

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 managers when the levels of absenteeism has already become a problem. The program will then guide them through the correct disciplinary measures to take.

Company formation and business solutions experts agree that these innovative way of handling the absenteeism problem will be a boon to employers who do not know how to go about disciplining lazy staff.

Insolvencies expected to peak in ‘06

By

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 contend with this year.

But with houses price and interest rate stability in the 1Q of 2006 set to boost consumer confidence, the report predicted better news for the sector.

Company formation and business solutions experts are hoping that the expected drop in corporate failures will come true in order to entice more people to start their businesses.

Business cards subject of new research

By

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 this kind of research won’t hurt businesses and business owners could opt to try these new innovative ideas to enhance their business.

DTI research debunks myths about small business (Part 2)

By

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 than it is.
* FACT: Only 10 to 20 per cent of applications are actually rejected.

* MYTH: It is hard to make a living from a start-up.
* FACT: People’s income estimate in their first year of trading is just half of the figure that is really achieved by small businesses.

Start-ups firms now have easier access to loans

By

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.

Company formation and business solutions experts welcome the new rules saying that it will surely boost the number of individuals who might want to go into business on their own.