It is not a widely known fact, but company directors can receive statutory redundancy pay from their limited company under certain circumstances. If your company becomes insolvent and has to be liquidated, whether this happens on a voluntary basis or forcibly via a creditor’s winding-up petition, you may be eligible to make a claim.
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When small businesses owners are starting their business, the main aim and priority is to keep the costs low. It is likely, most of the costs will be spent on necessities, rather than luxuries. Some may think that HR professionals or an HR department are a luxury, however, they can help implement workplace policies and keep the business out of trouble. If it’s not possible to hire an HR professional, then outsourcing can also be an option. However, it is advisable to hire an individual to manage the HR of your business as soon as you can.
It doesn’t matter what size your business is, there will come a point where you’ll have to consider funding (such as a small business loan) in order to take it to the next level. This additional finance might be used for a number of beneficial investments, including hiring extra staff, buying additional equipment, or moving to larger premises.
Gus Bartholomew is the latest entrepreneur to feature in our success stories. Gus is the co-founder of SupplyCompass, a company that helps clients in the UK get in touch with manufacturers in India. In this success story, Gus discusses working with a partner and working in both the UK and India.
If you enjoy photography and have a good eye for architectural details, you may be a good candidate to start your own business as a real estate photographer. Photography has never been more important to selling real estate than it is today. High-quality images on websites, apps, and virtual tours are the primary way that people decide which houses to include in their search.
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So you have invested time, money and energy into creating the perfect product that you think can be flying off shelves. Now you have to get your product on the shelves to get your business started. A small business that mainly produces and develops products needs a platform to sell them on. You may consider selling your products online, whether it’s on your own website or other sites such as Etsy or Amazon. However, if you want to opt for the more traditional route, you will need to approach high street retailers to get that satisfaction of seeing your product on a store shelf.
The investment in the small business sector has fallen, according to the latest Federation of Small Business (FSB) research. The number of small businesses that are planning to invest in the future of their business in the upcoming months, has decreased. This decrease hitting an 18-month high.
The social and political landscape is changing. Driven by the digital revolution and gathering pace as the number of so-called ‘digital natives’ reach adulthood, this paradigm shift is a result of society shunning traditional leadership models and preferring direct connection instead of intermediation. It’s because of this shift that crowdfunding was born, and the effects it’s having on society are far more profound than many realise.
BT has announced it will be switching off its PSTN and ISDN networks in 2025 in favour of IP voice services, with a gradual phase-out of the older systems starting in 2020. At this point, BT will cease taking ISDN orders, and all businesses will be forced to find other IP-based options for their business telephone systems.
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Your company is never going to be successful unless you’re able to generate a steady revenue. For many businesses, it can be difficult to branch out and find more customers. The good news is that there are plenty of things you can do to boost your company’s sales. By making a few switches, you’ll have an easier time luring in customers and convincing them to buy your goods and services. Tips for doing just that will be explored in more depth below.
A major initiative has been launched by TransferWise, a financial technology company to encourage UK’s youngest and brightest entrepreneurs to grow their business internationally. The scheme duped ’20 under 20′ could be life-changing for twenty young entrepreneurs in the UK, helping them take their business to new heights.
“I wear my heart on my sleeve” sang the Scottish seventies duo, Gallagher and Lyle. Is that level of transparency appropriate at work? What place do emotions have in business? Are they helpful or harmful? Wearing your heart on your sleeve is often misconstrued as your emotions being out of control. In truth, it means to openly show your emotions, to be transparent, to be true to yourself. The musical duo continued: “I’m not afraid to say what I mean, mean what I say”, advocating emotional honesty as the best policy.
A new business banking comparison site has been launched. Commissioned by the Chancellor, and backed by a host of business groups, the site features the experiences of business owners and rates the leading banks according to satisfaction levels.
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In the most recent study carried out by the Federation of Small Business (FSB), it was found that constantly rising operating costs are stalling business growth. The survey, which has over a thousand recipients, highlights the struggles of small businesses, as the number of small businesses reporting a rise in operating costs is nearly at a record high.
GDPR has stirred a frenzy of preparation in the business community on a scale unseen since the millennium bug. With the spotlight thrust so firmly on GDPR, another cyber security legislation from the EU has slipped quietly under the radar. It’s called the NIS Directive, and it came into effect on May 9, 2018.
When asked to deliver a speech in business, the pressure is ‘on’ to produce something that is valuable and engaging, to leave your audience feeling fulfilled. In addition to this, you will want to speak with confidence and clarity, whilst controlling any nerves. For your words to reach their full potential, you’ll hope for the audience to be convinced that your speech is natural and fluid, but it can be tricky to achieve this.
One of the main benefits of cloud accounting software is that your business accounts can be accessed from anywhere and at any time. The capability to update data in real time for extra speed, accuracy and efficiency in accounting will enhance the company’s performance as a result.
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As a business owner, you will inevitably need to speak and present to sell yourself and your business. If like me you are an introvert this may not fill you with joy! However, understanding more about what this introvert trait means can help us move forward.
Any business, small or big, is never completely safe and carries series of risks with it, such as personal safety, consumer market transitions, theft, potential legal issues and so much more. Most small businesses do not have enough budget to support the outcome of any of these risks mentioned. That’s why they constantly need to work in preventing such risks in order to continue with their success when new opportunities and obstacles present. As a business owner, you need to take steps to minimise these kinds of risks by obtaining insurance for your business and assets and implementing security measures as well as disaster planning.
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In the latest study conducted by the Federation of Small Businesses (FSB), it was found that if small businesses were supported by bigger businesses then they could grow their business through innovative techniques. Innovation is the key to the success and the growth of the business. If innovation is fed through the supply chain, this could significantly help small businesses succeed.
