If you are the owner of an SME or are responsible for the cyber security of one, you might never have heard of Managed Detection and Response services (MDR). However, that is something that needs to change quickly. MDR services can be extremely valuable to SMEs and overlooking them will likely not only cost you money but will also make you more vulnerable to cyber-attacks.
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When it comes to promoting your start up sometimes the smallest methods can have the biggest impacts on the success of your business. Most methods don’t require a lot of budget however you should invest some time to make sure you see the maximum benefit. You need to make sure you spend some time understanding your market and industry so you know what will work best for your brand!
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Brand equity is the perception that consumers have of a brand. It’s the value of the product from a brand that is generated either through positive or negative perception from the customer. Strong brand equity allows a business to charge a premium price for a product and it still be popular and successful.
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So, what’s the deal with mobile card readers? Technology really is coming on in leaps and bounds these days. Everyday there’s something new on the market to make our lives that little bit easier. This one is something special though. Anyone who has a business that takes payments will know how integral a seamless transaction is and now it can be – Says Joanna Beinko from Mobile Terminals.
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The General Data Protection Regulation (GDPR) is the new regulation introduced by the European Union which will be effective as of May 2018. The idea behind the new regulation is to give the public control of their data, as well as encouraging businesses to be more proactive in protecting and handling data in a more secure way. Although, the date of the regulation going into effect is fast approaching; businesses are not prepared.
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Starting a small business can be a challenge, and finding the finances to fund your business is perhaps the most challenging part of it. You may struggle to attract investors, whether these are Angel investors or banks. However, if you follow certain steps it will help you attract the appropriate investor for your small business idea.
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In a study carried out by the Competition and Markets Authority (CMA) it was found that a staggering £7 billion is being wasted by small and medium-sized businesses which have been overpaying on their gas and electricity bills. And yet, this massive overspend could easily be avoided – says Nolan Braterman from Frontier Utility.
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Whether you want to start from scratch and build a blog with the sole purpose of making a small business out of it, or you already have an established blog that you want to make money from, there are plenty of business opportunities for bloggers. You can start off just being a blogger, but the moment you start making money from it, you become an entrepreneur – a small business owner.
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Starting a business can be a daunting experience, however you don’t have to go at it alone. You can opt for a partner, or partners, that will share with you the pressures and profits that come with running a business. Being a sole business owner can be stressful and you may find you are consistently overworking, which could have a negative impact on your mental health and wellbeing. Having a partner means being able to share the work load and working together to make the business a success.
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Product development is an essential part of any business. Big businesses normally have dedicated teams for product development, whereas small businesses won’t often have the funds for this. However it is essential that small businesses still invest in product development as it will help the business grow and expand.
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A franchise agreement is a binding contract between the franchisor and the franchisee of a franchise. It’s a lengthy document of around 40/50 pages and it requires a thorough inspection as you need to make sure you fully understand all terms and conditions of the agreement, to avoid any surprises. The agreement will highlight all the expectations and obligations that your franchisor will have of you.
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Having a good working environment and invoking team spirit in your staff will allow you to have a more successful business and a strong team. Teamwork and being a team player is becoming increasingly important as working with others can produce better results and ideas to innovate businesses.
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It’s energy saving week this week and in honour of this we have compiled a list of ways you can help save energy. You can also save money for your small business by making some of these small changes. So saving energy is a win win situation, enabling you to save the planet as well as money.
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Lots of businesses want to raise funds – very few are actually successful. This is because the job of fundraising is poorly understood. And to make matters worse, raising funds is more of an art than a science. Before you start on the fundraising journey the most important step is to identify whether you need equity or debt – or a combination. Clive Hyman FCA, the founder of Hyman Capital Services explains the difference between the two and what is suitable to your business.
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Access to funding is a major concern for many small businesses. At a time when there is so much uncertainty about the direction of the UK’s economy, not having the money needed to keep going or grow can cause anxiety for a lot of companies. One of the most common reasons behind a lack of money is reluctance from banks to offer business loans.
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Pricing your products and services may seem pretty simple and straightforward, however you have to put in research and time in order to get it right. You will need to make sure that your product and service are priced at an optimum level, in order to get the best profit. There needs to be a balance of quality and affordability in what you are selling to attract the right customers.
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A frequently asked question by company directors is which pre-company formation costs can be claimed back once the company has been incorporated?
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Working from home may be a distant dream for many, however if you are lucky enough to be living that dream of working at home, then you will need a good office space. More and more people are starting to take advantage of working from home, and deciding to ditch chaotic commutes.
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So you’re starting a new business? What a crazy thing! I mean, you’re up against established brands, multi-million pound budgets, vast resources and a retail and supply network that’s well entrenched. What makes you think you can succeed? Rafael Rozenson, the CEO & Founder of Vieve (a protein water brand), answers all these questions from personal experience and gives his top five tips to compete with the big companies.
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