Getting a grip on the finances of your startup may seem to be a daunting task. This blog aims to demystify some of the main accounting phrases and concepts and try and help you to apply them when running your business. I am not trying to turn you into an accountant; I recommend you purchase accounting software and hire an …
The Startup Loan Scheme started in May 2012. It is a government-funded initiative that provides start-up funding and mentoring for entrepreneurs across the United Kingdom. It helps solve the problem of supporting people who have a feasible business idea or want to become self-employed but have no access to funding. The Start-Up Loan programme aims to equip enterprising individuals with …
If you are a serial entrepreneur or an aspiring business owner then learning how to write a business plan should be an essential part of your skillset. Being able to write a convincing business plan will help you improve and grow your business. Let’s start with what a business plan is: it is a document that outlines the vision for …
The Centre for Economics and Business Research (Cebr) expects the UK economy to grow by 2.5% this year, but see this slow to 2% in 2016 and then just 1.7% over the years 2017 to 2020. Managing a small business in the current economic environment can be challenging, here are some tips to improve your business and ensure it stays …
Most small businesses start-up from home. Some do this by choice, others think they have to work from home to keep costs down. There are many benefits to working from home, for some, it provides them with the perfect work-life balance and they are happy to remain small. If you are hoping to grow your business, I would recommend moving …
So you want to be your own boss and run your own business? But you are not sure about factors such as where to start, what resources you need, how to market products and services, and how to hire and train employees. Franchising is a great option for people in this situation. Put simply, a franchise is a method by …
Applying for a bank loan is a normal part of running a small business and shouldn’t be feared. As long as you understand the process, banks are the most straightforward organisations to approach for money. Banks are a business; they want to make money, just like you do. Banks are predictable and use the same loan scoring method as they …
UK-based investment crowdfunding platform Crowdcube shared it assisted 105 businesses and raised £35.9 million in funding for 2014. This represents a 246% increase compared to 2013 and means Crowdcube maintains the title of the UK’s largest equity crowdfunding site. It is not just Crowdcube that has seen such huge growth. In the last 3 years, the global crowdfunding economy has …
Most businesses need some kind of funding to get started. Getting business funding remains one of the biggest challenges entrepreneurs face. To reduce time and hassles in getting funding for your business it’s important to understand the options available to you. Below is a brief introduction to some of the most common business funding options available. Friends and Family It’s …
For most business owners it always seems like prices are increasing. That may be so, however, as part of a wider business improvement program, you should always aim to find cost savings within your business. Starting a cost reduction program can seem daunting, there are a few keys areas you should be able to find cost savings that will yield …
