Market research is the key to understanding your market. Carrying out market research is essential for every business endeavour, from the inception of the business to the expansion of it. Understanding your market in terms of customers and competitors will shape your business. Knowing your customers will allow you to provide the best service. Analysing your competitors will enable you to be better and have a competitive edge over your competitors.
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Starting up and running a business is no easy task. Although it is a rewarding venture, which enables you to be your own boss and put entrepreneurial skills to use, there are certain problems you will likely face. Here are the top three problems that are affecting small businesses in the UK right now. If you are business owner, you are likely aware and if you are thinking about starting a business, its important to take these problems into consideration.
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When it comes to working in a pleasant, progressive workplace, it really can come down to luck of the draw. Larger companies can afford to do more and have more benefits, where smaller businesses may occasionally struggle or not be able to manage things as well, for example. Below are four things that every business, no matter how big or small, should be doing to keep up with the modern day workforce.
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Lendable, a peer-to-peer lending platform is becoming increasingly popular and growing at an incredible rate to rival its competitors.
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In our latest edition of success stories, we spoke to Brenden Carr – owner of a family run business. Caztec help deal with domestic and commercial electrical problems. Brenden discusses the changes to marketing yourself as a business owner, over twenty years, to the advantages of running a family business.
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In this article, we look at the tax benefits of a limited company and drawing down income in the form of dividends as well as salary.
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Funding Circle is one of the most prominent methods of getting loans for UK small businesses. In this guide, we will focus primarily on this method of financing, explaining how it works and why it’s such a great way of financing your business that you should definitely consider.
In a survey conducted by Mediahawk on over 200 SMEs in the UK, it was found that social media plays a huge role in bringing in the highest quality leads and sales to small businesses. Around 62% said that social media marketing was the best form of marketing for them to get the best leads, ultimately pushing their sales. This just shows the importance of social media in the small business sector.
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Peer to peer lending is a way to get finance without the involvement of any official financial institution. However, there are certain platforms you can use to get funding. The peer to peer lending websites are known as platforms and will vary from website to website. In this article you will learn what peer to peer lending actually is and what are the pros and cons for using this particular method of funding.
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Setting objectives and goals for your business is incredibly important. Goals enable you to decide the direction of your business, as well as provide motivation because you have a goal/image to work towards. Most importantly, setting goals is a way to measure your progress.
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There are many reasons as to why you have decided to sell your franchise, from a retirement to wanting to invest in another business opportunity. Selling and buying an existing franchise is also known as a ‘re-sale’. You have to prepare for your re-sale from the very beginning of your franchise career if it is possible. These simple steps will help you get organised and prepared for the re-sale.
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For most businesses, handling an employee’s confidential data can present a number of challenges. It is important to educate the team on the importance of handling data to ensure confidence to not have to face any of the legal implications of a data leak.
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A unique selling proposition, also referred to as a unique selling point, is a marketing concept used to express the difference between your product/service compared to others. Differentiation is one of the most important parts of any business, you must stand out from the crowd and against your competitors. When you have a small business, a USP could be the difference between failure and success. It can help identify you and enable you to actually compete with big brands.
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Millennials are the largest living population, and this group includes anyone born from 1981 to 1997. The generation has been widely misunderstood, and reports show that they are the most difficult demographic to engage. As millennials are such a huge part of society, it’s worth investing time to get to know them as prospective customers and perhaps tailor marketing strategies to suit their needs.
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Franchising can be a great sector to join, especially now when it is seeing an all-time high in terms of revenue as well as providing a record number of jobs. It has been a huge contributor to the UK economy and it’s business model is responsible for it’s success. Choosing a franchise to invest your time and efforts in can be difficult, however in this article you will find six factors to consider when looking at your options.
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Venture capital is a form of funding for businesses. Venture capital is financing that is provided by investors, known as venture capitalists to start-up businesses. Venture capitalists will only invest in your start up, if it shows potential for long term growth. This form of getting funding for your business can sometimes be difficult as it will need to meet certain expectations and guidelines.
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Today, Friday 15th September is the National 4pm Finish Day. Getting to start your weekend an hour early and making this campaign a legitimate thing has never been more prominent. Kudos to Red Bull for getting the ball rolling.
Running a small business, it can be easy to become caught up in the day-to-day operations and forget about your future goals. That’s why it’s important to set objectives and milestones from the very beginning, so you can track where your business is going and celebrate how it’s growing!
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Millennials are definitely making their way in the small business sector. In the 9th annual DNA of an entrepreneur report by Hiscox, one of the most encouraging findings from the report were on the positive outlook of millennials. The group dubbed the ‘most entrepreneurial’, could be paving the way for a brighter future for small businesses.
If you are thinking about buying a franchise and starting one from scratch seems daunting then perhaps consider buying an existing franchise. There are many benefits about buying an existing franchise, which is referred to as a re-sale. However, you need to carry out full research in order to get a grasp of the situation of the franchise. There are some major bases you need to cover, and in this article it will all be explained. [continue reading…]
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