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 [...]
Going For Growth
Growth businesses are the cream. They make up the top five percent of small companies – and around 20,000 a year are started. There are several subtle differences between the growth companies and the rest. What marks them out?
The definition of a growth company will usually be based upon one of the following measurements: growth [...]
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 [...]
Customer Care
It’s all too easy when you’re struggling with the finances, the production, the employees to regard customers as ‘just another problem’, ‘a nuisance’ or ‘getting in the way’. But you need to drag yourself back to reality. Without customers, you have no business, no matter how slick your financial control, nor how good your man-management.
Put [...]
When The Business Is More Complicated
There will be many businesses for whom the simple system described above will not be sufficient. This will apply to you if you make many sales or purchases each month and keep a lot of stock on the premises. There will be an increasing number of documents and records needed. Your business may need to [...]
Accountant And Book-Keeper
The advice accountants may be able to give ranges from the basic services, such as book-keeping, to the more sophisticated, such as tax planning or raising funds. Not every accountant will offer every sort of advice. For example, a big firm of accountants is unlikely to undertake weekly book-keeping functions; an accountant working alone may [...]
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 [...]
If You Are Self-Employed
The simplest way of increasing your pension is to start paying money into a personal pension, which is organized and invested by an insurance company; and, because you can get tax relief on what you pay at your highest rate of tax and your money is put into a tax-free fund, doing this may be [...]
Building Your Reputation
Once you have selected your business or product name, your next strategy is to devise means of getting your name noticed by as many of your target customers as you can. Obviously, you do not want your name to be associated with any bad news, so you may find that you do not want to [...]
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 [...]
Losses For The Self-Employed
If you have made a loss in your business, what can you do with it to cut your tax bills? Your two main options are to:
? deduct the loss from other income or a capital gain
? carry the loss forward and deduct it from future trading profits from your business.
DEDUCTING THE LOSS FROM OTHER INCOME [...]
Phase 2 Money
Going for growth usually means raising more money. Not always. You may have created that elixir of business, a cash-generative model, and be able to fund your own expansion with your own resources. But you are likely to be the exception.
In most cases to expand you will need to raise outside money. Phase 2 money [...]
Investigating And Negotiating
Before you sign anything, there are several steps to take to investigate the premises further. These steps are:
? to estimate costs
? to check structure of property (if it is freehold or a repairing lease)
? to investigate the legal side of things, and
? to look at local authority requirements.
TO ESTIMATE COSTS
There are [...]
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 [...]
Balance Sheet Forecast
A balance sheet for your business will show what you own and what you are owed on one particular day. A forecast one will show your estimate of that picture at the end of the period.
There is more about accounting records needed to produce the right information for a balance sheet once you are in [...]
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 [...]
