With the rise of e-commerce, the retail industry, and in particular the high-street retailers, has suffered hugely. Coupled with this, running a business always requires some risk, and the economic uncertainty only makes it tougher.
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Sophie Hainsworth, Co-founder of LoyalFree, features in our latest success story to discuss everything from the inspiration for their app business to the process of developing it.
You’re not a designer. You’re not a psychologist. But you started a small catering company, or you have decided to become a professional gardener or pet groomer. And like most small business owners, you don’t have the resources (yet) to hire an all-out professional design company to create the perfect brand identity, or to analyse the market for you. You have to make do.
Let’s face it. Small businesses don’t have big budgets to work with (unless you’re lucky enough to secure an angel investor – keep those fingers crossed!). For the rest of us, we need to find ways of streamlining business processes and promoting growth with limited capital. The good news is, these days it’s completely possible to grow your business on a limited budget. How? Harnessing the power of technology.
If you are running a small business, you might have some employees that work for you on a remote basis. This new generations of employees expect more from their work and employers. They expect their employer to care about their work-life balance and offer them flexibility through remote working. So if you are one of those employers, then it is essential that you regularly communicate with remote employees for several reasons.
Affiliate marketing refers to a marketing channel wherein partnerships are built to promote a product, a store, or a service. Moreover, affiliate marketing involves offering revenue on a profit-sharing basis. Affiliate management, on the other hand, refers to the process of making the affiliate channel work.
There’s no denying that running a restaurant is no small feat. In actuality, it can be a colossal endeavour that, if tackled lightly, won’t yield the desired returns. After all, not only is the industry rife with competition, but it can be more than just a little challenging for a dining establishment to maintain a consistently high level of productivity without spending more than it needs.
Technology is not just something to enjoy in your free time. It has a lot to offer to people who are looking to expand their companies, as well. So if you’re running a small business, make sure to carefully consider how much you have to gain. Modern solutions can completely transform the way your business operates and make it a lot more profitable.
Has your business, or a business you know, suffered from a cybercrime? As 43% of cyber-attacks are targeted at small businesses, you need to take action to protect your business now and on an on-going basis.
Readers question: I have a limited company and I have taken 1% dividend for my grandchildren to pay for their school fees. I have opened a trust account where this 1% will be put into so let’s say the cost of the fees is £17,000 per annum, how much money do I need to transfer into this trust fund? Also how much corporation tax do I need to pay on this transfer?
Every summer, millions of us will put down our tools and find somewhere sunny for a well-earned break, but for small businesses, the summer holidays can cause a whole lot of stress. Staff are away, business is slow and revenue slows down. By the time everything is back up to speed, they often find themselves running short of cash.
For many of us, travel for business is a part of our job. Although travel can be stressful and exhausting, it can also open you up to new business opportunities. As well, it can present you with some wonderful experiences in locations around the world you might not have a chance to visit otherwise.
Event marketing is growing in importance for small businesses. The time to jump aboard this marketing trend is now. As an event offers opportunities for prospective customers to interact with a brand, it’s crucial to make sure it’s memorable for all those participating.
Every company’s beginning is hard, which is why small business owners are tasked with perfectly balancing the budget, or risk unplanned bankruptcy and an abrupt end.
Do you tend to put off booking a holiday? As a business owner, you may worry about leaving your team to cope in your absence but for your own sake as well as your family’s you need to take time off. Luckily there are plenty of tech tools you can put in place so that you and your family can go away while your business carries on without a hitch.
When your business takes off, the initial high can quickly turn into a low as you scramble to meet demand and create more capital. Growing pains can be uncomfortable and can make successful small start-ups flounder. To successfully ride your initial wave of success, you need to be able to sustain your growth spurt without losing focus.
If you are running a small business or a limited company with employees, you will need to get acquainted with a P60 form. Here, Dannielle Stapleton MAAT from Orange Genie brings you a guide to the P60 form, addressing what it is, when you would need one and where to get one.
The success of a business is greatly dependent on the efficiency of the employees. The relationship of the people in an organisation will determine the kind of outcome that they will produce as a team. This is the reason why it is also very important for every business owner, manager and supervisor to examine the kind of atmosphere in the office. One has to be sensitive to the needs of the people he or she is managing. Teamwork is only possible if everyone is comfortable with the company of the other.
Readers question: I incorporated my company name in 2007 with the initials “CLA” included as part of the full name. Recently I received a letter from lawyers representing another company who also use “CLA” in their company name and want me to rebrand and stop using CLA as part of the full name. I noticed they registered a trademark for CLA in 2009. I also notice there are hundreds of companies using CLA as part of their full company name. Can you please advise if I will be forced to change my company name?
In business giving and receiving feedback, and knowing how to make this an effective process, is vital. When it is sincerely delivered, specific and supportive, feedback helps us to identify previously unseen areas for development, to introduce new ideas and to encourage people to embrace challenging goals. Conversely, feedback that is insincere or overly critical can demotivate and disenfranchise, which can damage and even destroy relationships.
