If you are thinking about getting a business valuation, you’re most likely weighing up the pros and cons of it. Getting a business valuation takes time, effort, and resources. So if you don’t need one, why would you go through it?
Online businesses are everywhere and search engines are a significant source of traffic for most of their websites. If you are running a small online business, then being ranked on Google should be your priority. Therefore, it’s recommended you opt for the right SEO plugins and tools for making sure that the search engine optimisation of your WordPress site is in order.
You’ve done the hard bit; you have a store that’s open and fully functioning. But, footfall isn’t coming in as quick as you’d like. It’s vital that you ensure customers have a great experience in your store. Consider all the factors below before you start wondering why your sales aren’t as high as you’d like.
Are you facing a busy period? Have all your customers paid you promptly? Are you looking to capitalise on new opportunities for 2019? If you answered yes to any of the above you could be missing funds to keep your books in the black. After forecasting sales and factoring in expenses, your business might be in need of a cash injection at short notice.
A pharmacy business can be lucrative and starting from scratch is one of the best ways to own one. However, establishing a pharmacy, even a small one is not an easy task, so it can be easier to buy an existing pharmacy if you find one for sale with potential growth. With so many laws, rules and regulations that you must adhere to before starting a pharmacy, buying an already existing pharmacy or franchise will make things simpler for you. However, starting your own profitable pharmacy business from scratch is possible and may be more satisfying than buying one.
Readers’ question: I’m looking into starting a small business and I’m still not sure what the main differences between a sole trader and limited company are with regards to tax implications. What is the more tax beneficial method of running a business?
A lot of businesses now choose to trade internationally to help their business grow and succeed worldwide. Trading internationally can not only be a great step for your business but can also help you to build your brand awareness and reach more customers. If your business is moving towards international trading then it is important that you know how to reduce your costs to help you save money in the future.
I don’t know about you, but I like to know what I am spending my money on, especially if investing in a wrong marketing strategy can put the future of my company at peril. I am also a great admirer of history because I think that the cause of a crisis can always be traced back in time. That’s why I know when my marketing strategy underperforms because I carefully monitor all metrics that can indicate that things aren’t going as planned. Monitoring these metrics gathers information that enables me to make better marketing decisions.
Storytelling has become an essential part of PR and marketing. It allows businesses and big corporations to connect with their audience and customers on a human level. By telling a story, you are allowing your viewers to experience emotions, which makes you memorable. Over the festive period, a number of huge companies invest in making emotional adverts that tell a story. These have become an annual event, with John Lewis usually leading the way. They are so popular because they play on emotions. If you are making people think and feel something, then you have their attention.
If you’re an aspiring business owner who needs to raise finance for a business purchase, you have several options. Three of these are bank lending, an angel investment or seller financing.
Although HMRC sends reminders to those who need to file their self-assessment tax return, not everyone meets this deadline. More than 30,000 taxpayers completed their tax return within the last hour on January 2018.
Now more than ever professionals are keen to move away from traditional working hours in favour of a better work-life balance, and as more of life moves online, the idea of working from home seems to make sense. Many organisations are now offering, or at least trialling flexible working hours, but some are still behind the times.
Productivity is a key yardstick on which business efficiency is measured; the more output achieved, the more revenues and profits are likely to increase. For the most part, improving productivity revolves around having efficient, content and well-managed staff, therefore much of what is done to improve productivity is geared towards ‘people’ matters.
If you’re self-employed or a company director, you must fill in an annual self-assessment form. If you’re submitting your return online, don’t leave things until the last minute, as you won’t be able to do so without an activation code.
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2019 is fast approaching, and with the New Year comes new opportunities in almost every sector. Among these opportunities, some of the major ones will include creative new small business ideas.
At this time of year, you may well be planning parties, awards and gifts for staff and customers. As you do this are you checking that you are making the most of the available Christmas tax reliefs or ways to leverage your money this Christmas?
The aim of every business is to grow and expand, and naturally when businesses grow they secure a bigger number of clients. A happy problem with this is that more customers to your business would mean the need to hire more employees; especially those in the sales and support departments. Bringing on board a handful of new employees in a short time span could be challenging because of the time it takes to train them while still making sure that your long-time clients are happy with the services they are provided with.
Chancellor of the Exchequer Philip Hammond stayed away from big bold giveaways in his Autumn statement, but the Budget contained plenty for businesses to digest.
Potential customers don’t change that much. It’s common for businesses to overestimate the attraction of novelty and underestimate the power of traditional consumer behaviour. Marketing is not new, but digital marketing has changed the way that we do things.
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A recent Government report shows that £44.6 billion is owed to small-to-medium sized businesses in late invoice payments. While it’s hard to fathom how much impact this amount of money will have on the economy in general, it’s important to understand the impact it can cause business owners.
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