In the latest research conducted by the Federation of Small Businesses (FSB), it was found that small businesses need innovation to narrow the productivity gap. As a result of this research carried out, the FSB are calling on the government to introduce a new tax credit. The lack of innovation within the UK small business sector is worrying and is having a negative impact on the overall productivity. With innovation, small businesses can grow and thrive.
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Franchising is gaining popularity in the modern society due to its numerous benefits. Essentially, a franchise is a permit offered by a company to authorise you to do a particular commercial activity. For instance, a franchise authorises you to use the products, services and brand name of a specific existing company for commercial purposes. The franchisee gets the franchise from the franchisor. This gives the franchisee an opportunity to sell the franchisor’s goods or services. The franchisor communicates or provides everything to operate a franchise. Opening a franchise is easier than starting your own enterprise. The franchisee enjoys brand equity, marketing and operational support.
Unless you’ve been hiding under a rock, you’ve probably heard about cryptocurrencies. The meteoric (and overinflated) rise of Bitcoin has firmly planted the disruptive technology in the minds of everyday consumers. And as a result, many companies looking to raise money for their business have probably asked themselves whether they should be running an ‘Initial Coin Offering’, or ICO for short.
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It’s never too late to start organising your books. Being organised and keeping on top of your bookkeeping is essential when running a business. Here, Amanda Swales from GoSimpleBooks highlights some bookkeeping tips that could transform your way of bookkeeping.
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In a recent study conducted by Advanced, it was found that small business owners are on the brink of a burnout due to their heavy workload. SME leaders and managers are close to hitting the boiling point because of the stress and pressure that comes from running a small business. These are issues that can be controlled and maintained. Small businesses are the backbone of the UK economy, and without healthy small business owners to run them, the UK economy could be in trouble.
According to a recent study, employee engagement across the workforce is at a historic low. Many employees cite disengagement with the work they are tasked to perform each day, due to a variety of underlying causes. It could be they are not content with their current job position, or that they do not feel completely connected with the employer on a broader scale. Regardless of the root cause, employers and their HR departments are recognising the pressing need to improve employee engagement – and fast.
It can be a real challenge for start-ups to become legitimate businesses, or at least look the part. There’s a certain image that must be attained in order to be taken seriously, and that usually takes time. But there are short-cuts you can take so that your small business can create the big business image you are aspiring to. You just need to know what steps to take, where to spend money, and where to invest your time and efforts and you will see what a difference that can make.
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As a manager, it is your responsibility to promote employee wellbeing in the team. If the workforce is demotivated, stressed and not building positive relationships, the team’s productivity and efficiency will suffer as a result.
Deciding between working with a Cut Make Trim (CMT) manufacturing partner or scaling up production and opting for a fully-factored partner (FF) abroad, is a choice that most successful fashion, accessories and furniture brands have had to make at some point.
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The word millennial seems to be on everyone’s lips and in most news headlines, but who are they and why do they matter? The age bracket for millennials, also referred to as Generation Y, stretches from those born between 1981 and 1996. Meaning that numerous potential consumers fall into this classification, making it a generation worth targeting.
As a business owner, wouldn’t it be great if the work you and your employees had to do was as engaging as playing video games? Or binge-watching a Netflix series? Or going on a blowout shopping trip? Imagine if a small business could capture the magic of play and inject it into their work. It would have a profound impact on their bottom line. Enter gamification.
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The digital world has been marching forward over the past 20 years, providing ever more efficient services to the public and businesses via the internet, and now there is a new revolution on the horizon. The industrial revolution transformed manual work; Artificial Intelligence (AI) will dramatically change the nature of the service industry and white-collar work.
So you have a great idea and a business plan and you want to grow a successful online business. Not surprising, given that online sales now make up over 17% of all purchases in the UK and there’s no sign of that slowing down.
Your website may be the best tool you have to improve your public relations and boost your image. However, in order for your site to be effective, you first have to learn what elements make for a great site, and how users will be affected by your web design decisions. Here are some ideas from Webs Union to get you thinking about your site in terms of PR.
The claims management market is exceedingly busy at the moment. The announcement of the PPI deadline for 29th August 2019 means businesses are working harder than ever to encourage as many customers as possible to make a claim. With over £30 billion already paid to consumers, the industry is receiving a good sum of money by working on behalf of consumers — an amount which is likely to increase as the deadline nears.
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As a small business owner, you know the only thing that’s certain in business is that the unexpected will happen. Preparing for these unexpected events is therefore one of the most crucial parts of your role as business owner. After all, no one else is going to help you anticipate the challenges you will face in the course of doing business, and some of your competitors might even be hoping that you don’t anticipate them so your business will fail.
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‘Health foods and health drinks are growth markets. And if you’re dreaming, like I did, of starting your own health food or beverage brand, then I’d like to share with you what I learnt when launching INIU’, says the founder of the health food brand INIU.
Hiring young people can be very beneficial for small business owners that have a heavy workload and small budget. You can take on young people through various programmes; you may wish to offer a week’s work experience, a three-month internship or even longer apprenticeships. When it comes to taking on young people as employees, you will need to make sure that you are fully compliant with the employment law. Seek the advice of an HR professional, if you don’t have an in-house HR team/department.
When it comes to hiring for any role, the main priority is getting the right candidate. You may need to look outside the UK if the applicants you are getting are not quite what you are looking for. There may be various reasons for wanting to employ people from overseas, however, whatever your reason you will need to adhere to certain rules and regulations.
If you are thinking of selling, renting out or building business premises, you need to be aware of what an Energy Performance Certificate (EPC) is and why you will need one. If you do not pay attention to this requirement and ensure that you have an EPC in place, you could end up facing costly fines. Here is a guide from EPC For You to get you prepared.
