THE RIGHT COMMUNICATIONS
You need to buy a fast modem; choose the faster feasible modem on general supply (say ?150 – ?200). A modem – either installed internally within your computer or attached externally – lets you communicate with others direct from your computer screen using your phone line. You can send and receive e-mail and [...]
Choosing Other Equipment
The Final Process
There are two constructive steps you can take: consider whether you could negotiate with creditors to pay off what you owe in instalments or to pay a smaller sum which they will accept in full settlement. Or you can enter into what is known as a formal voluntary arrangement. This is a procedure whereby you [...]
A Guide To Choosing A Franchise
Keep a healthy dose of skepticism about franchises, franchisors and franchise specialists.
Make your own choice of advisers, do not use those suggested by the franchisor. The most unbiased advisers are likely to be a High-Street bank – some of which have specialized franchise giving independent advice – and the solicitor and accountant you employ to [...]
Who Has To Register
It is the person, not the business, who is registered for Vat. Each registration covers all the business activities of the registered person. For VAT purposes, a company is treated as a person. There are a number of reasons why you might not have to register. These include:
? your sales (strictly, the amount of [...]
Why Will They Buy
Before you can answer this question, you have to find out what your customer wants. What are the benefits and features of a service or product which your target group rates most highly? Research is essential.
Once you have the framework of your customer needs, you can begin to vary your service or product with the [...]
How Is The Tax Worked Out
What Do You Charge Vat On?
You charge VAT on the taxable sales you make; this is known as output tax. The amount of VAT is worked out on the price for the goods or services you are supplying. Occasional sales of second-hand goods are treated in the same way as new goods, but if your [...]
Property Income
The tax treatment of this income is outside the scope of this book and only brief details can be given here. A helpful tax concession is the ability to rent out a room in your own home and pay not tax. The Lloyds TSB Tax Guide 2002-3 gives fuller details of the Rent-a-Room scheme and [...]
What To Do With A Design
Sometimes the success or failure of a product depends not only on how it works, but on what it looks like. The outward shape or decorative appearance of a product can also be protected, either by:
? relying on the automatic protection of design right (a bit like copyright), or by
? registering the design, [...]
The Pluses And Minuses
Your main consideration before buying any particular franchise is whether it will work as a business for you and provide you with the sort of living you require. Assuming that you have found such a franchise, there are advantages and disadvantages of which you should be aware.
Other Insurance You Can Get
INSURANCE AGAINST FIRE AND OTHER PERILS
This covers destruction or damage to your buildings and contents through fire. You can also be covered for other risks such as lightning, explosion, aircraft, storm, flood, riot, malicious damage and so on. If you work from your own home, you will still need to get your own insurance policy [...]
Working From Home
Many small businesses will start off in the back bedroom. Some, especially if they are part-time businesses, may stay there permanently. Working from home has several advantages:
? it is free
? it involves no travelling
? the work can be combined with any domestic tasks to be done
? there are no fares or [...]
What To Do With A Trade Mark
WHAT IS A MARK?
A trade mark is something which identifies a product in the eyes of the consumer. The consumer will know who has manufactured the goods or who is selling them. Trade marks are closely linked with the idea of building loyalty among customers, so that they will choose your product or service over [...]
How To Pay For Equipment
There are four main ways you can pay for equipment. Two of them involve buying the equipment, so you become the owner; the others do not, the ownership being retained elsewhere. The ways are:
? buying outright
? hire purchase
? leasing
? contract hire.
Banks obviously offer a wide range of financial facilities
Banks obviously offer a wide range of financial facilities, such as current accounts, provision of overdrafts, longer-term loans, leasing and factoring, import and export assistance. There is more detail about the provision of finance ‘Raising the money’. Most of the banks also have specialist services for small businesses and networks of small business centres or [...]
The Message- Who, What, How
WHO IS THE MESSAGE TO?
If you do not know what your target market is, you really do not deserve to succeed. You need this information at your fingertips from a very early stage of planning your business. Defining the target market necessitates sorting out its characteristics: the number, the location, the spending power, the class [...]
