The British Chamber of Commerce and other business and financial institutions are forecasting a recession for the UK economy from Q4 2022 through 2023. Annual expectations for GDP growth also continue to flatline in 2022, significantly below the 7.4% growth recorded in 2021. Businesses and consumers will continue to face exceptionally high costs as rampant inflation spirals upwards in 2022. …
Last week was a big week for UK businesses, with a raft of new policy announcements in the Energy Relief Scheme and the Mini Budget. Despite the poor reaction from the financial markets, there was plenty of positive news for established and startup companies. Let’s review the changes and assess what that means for business owners. Energy Bill Relief Scheme …
Business mentoring can provide invaluable support and guidance for business owners and entrepreneurs. A mentor can help you to develop and grow your business and to overcome any challenges you may face. If you are thinking of starting a business, or are already running a business, then business mentoring could be for you. A mentor can help you to clarify …
Raising startup funding is one of the most exciting, challenging periods for a new business, and most fail at this stage and new launch. Research by The Kauffman Foundation found roughly two-thirds of the companies were financed by personal savings, investments by friends and family or traditional loans. Here are the top seven categories of the decade-long research identified by …
Before you quit your day job to pursue your entrepreneurial dreams, make sure you have a solid plan and know exactly what you’re getting yourself into. It’s not a decision to be made lightly. As an entrepreneur, there are many things to consider before quitting your day job to pursue your business full-time. Without a clear plan, it will be …
The vast majority of startups fail. According to CB Insights, Ninety-six per cent of them close within the first two years. So, why risk starting one? There are a couple of reasons why people are willing to risk starting a startup despite the high likelihood of failure. First, starting a business is a rewarding experience. Even if the startup fails, …
Opening a restaurant or cafe in the UK can be both profitable and sustainable. Hundreds of new restaurants, cafes and takeaways are opened every week. Opening a restaurant or cafe in the UK can be a daunting task. However, it can be a very successful venture with the right planning and advice. In this article we’ll go through the basics …
If you’re considering starting a business or currently operating one, you may wonder if writing a business plan is the right step. After all, not every business needs a formal business plan. What is a business plan? A business plan is a critical tool for entrepreneurs to map out their business idea and track their progress over time. A business …
Regardless of what type of business you operate, at some point, you will need to create a set of financial projections, whether it’s to raise funding or internal management. However, it is one of the most challenging tasks for most business owners. Financial projections are used to determine whether a project will succeed financially. They’re also helpful when planning for …
Setting up a home-based business can be a great way to achieve your entrepreneurial dreams, and with a bit of planning and effort, it can be surprisingly easy. A home-based business can be an enriching experience. Working from home, setting your hours, and being your boss are just a few benefits. On the downside, you’ll be working where you live, …
