The idea that many people work from home to spend more time with their children has been called into question by new research from leading broadband supplier UK Online, which found that greater flexibility and less commuting were actually the driving factors among the small business community.
Category: In Business
Advice on growing your small and medium sized business, SME, in the UK. Hiring and managing staff and finance plus marketing all on one website
Franchising – In business for yourself but not by yourself
You may have heard about franchising but would you like to know more? Well, it does what it is says on the tin – franchising is being in business for yourself but not by yourself. What is inside the tin? What is a franchise? What is involved in researching the marketplace? What about the finances? What can franchising do for me?
Firstly, here are the key industry statistics taken from the latest NatWest/bfa Franchise Survey. (bfa stands for British Franchise Association – the voluntary self-regulating body for the franchise industry.) You may be surprised by the scale and scope of the industry.
At home in the world of work
More than 2.1 million people work from home and some 8 million spend at least some of their working week in the house instead of at the office, according to the Office of National Statistics (ONS).
Working from home offers many advantages and is an attractive option for today’s budding entrepreneur or teleworker. Being able to work at your own speed, in your own environment without the daily commute is encouraging an increase in home-working initiatives and “bedroom start-ups”.
Writing the wrongs
If you, like many, had letter writing etiquette drilled into you from an early age then nothing screams from a page louder than the elementary error of “Dear Sir” followed by “Yours sincerely”; You may think it doesn’t matter but the impression it gives to the recipient can easily undermine confidence in a business.
Experience on tap
Mentoring has long been a valuable tool in staff training. Typically, a junior member of staff is assigned a mentor – someone experienced from inside or outside the company – to guide them along the learning curve.And if it works so well for individuals, then why not for small businesses?
Disputes can be damaging to business
Companies are more at risk from disputes than they think, according to new research.
When enough really is enough
There are a whole number of reason for stopping a business. I’ve frequently heard Directors say ‘if only I’d sold the business five years ago, we were doing so well’ So if you are reading this and things are really good at the moment, bear in mind that what goes up has a tendency to go down.
Time for a review
For many businesses, agreeing marketing budgets is an area fraught with difficulty as marketing departments struggle to justify and quantify the return on investment.
This is a particular issue for small enterprises, where margins are tight and ‘the bottom line’ is of utmost importance. It is possible for such businesses to look at large companies and bemoan the vast sums of money they can plunge into promoting their products and services and the lavish advertising campaigns that are beyond the reach of most organisations. However, there are valuable lessons small businesses can learn from their larger counterparts which aren’t reliant on breaking the bank.
Trading in China
As the Chinese economy continues to grow at over 10 per cent each year, an increasing number of SMEs are looking to set up a presence in China to take advantage of this growth. Although there are several forms of corporate vehicle available to SMEs, the two most popular are the equity joint venture (EJV) and the wholly foreign-owned enterprise (WFOE).
The Right Formula for Data Leak Protection
Whether on the race track, on the web or in the boardroom, data leaks are invariably bad news. Just ask Ferrari and McLaren, the F1 giants embroiled in controversy over allegedly stolen technical documents. Or Facebook, who mistakenly exposed a slice of their own source code recently, and thereby possibly their own users. Or Monster.com, who made the monster mistake of losing over a million customer records to expert “phishers.”
A tax on retirement
When is a u-turn not a u-turn? Many members of the Forum of Private Business (FPB) would argue that the Government’s suggested £100,000 in tax relief when they sell up and retire certainly fits the bill, following, as it does, the much-vaunted proposals to change the Capital Gains Tax system.
Bank errors really add up for business
Bank errors, delays and charges are costing UK businesses almost £100 million every year as companies are forced to waste time and money chasing lost or delayed international payments, according to new research.
On board with Madonna
Madonna and the Prince of Wales are two of an estimated 3000 select people who are being invited to join the world’s first private flight sharing club in an effort to reduce the environmental impact and cost of private jets that are currently flying empty 40% of the time.
The Flightshare Private Members Guild is the brainchild of Farnborough UK based David Lacy, an aviation veteran of 26 years who was the first to introduce carbon offsets to the European private jet industry last year.
Picking up the post
Struggling to cope with late deliveries is nothing new for smaller business. Three years ago, when the Royal Mail’s second post was scrapped as part of the continuing drive to cut costs, many members of the Forum of Private Business (FPB) complained that late deliveries were hindering their ability to do business.
However, the latest delay is in naming the UK’s 2,500 post offices that are to face closure. This has been postponed from September and has left countless owners of small businesses on tenterhooks. Post offices are vital links in their supply chain, and many communities face prolonged agony because the process of consultation will not be concluded until October 2008, in some areas.
Going it alone
At the end of the ‘90’s the air was thick with revolution. Offices, newspapers and gastropubs across the land were alive with rumours that the end of the workplace as we knew it was nigh. With just a mobile phone and a laptop, people could work from anywhere, anytime. For some, tomorrow’s working world was a freelancer’s haven. To others, it was all hype.
Whichever way you look at it, the UK’s freelance community is growing and it includes some of the country’s most experienced and talented workers who make up a highly skilled, highly mobile and flexible 21st century workforce.
Your own boss
Some of the common reasons cited for going freelance include being your own boss, making more money, having freedom and variety and striking the work/life balance.