July 2007
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Month July 2007

New Blog Template

I'm working to install a new blog template and update WordPress. This may cause some problems with displaying content.I'm sorry for the inconvenience this may cause.

Online Offices- An Asset to Businesses

That means they traveled from home to work and back, for the length of an entire working day!Of the respondents 88% said that working from home was an excellent option towards  improving employee morale and performance.... It allows business owners to stay in touch with their office even when they are away from it and also on the move.On-demand small business infrastructure at least allows small business to be more environmentally friendly, save time and money by not traveling.

How to Start a Business

Most people want to start a small business for several reasons, the most common being that they don’t have to report to another person, they think it will give them plenty of time and finally and most importantly because they feel passionately about a business idea.Start-ups have never been this easy before. Nowadays there is advanced technology that can help create an online office, take care of accounts, etc and essentially provide an entrepreneur with all the tools he or she requires to become successful.However it is important to do a reality check before one begins a start-up:* Starting your own business requires commitment and dedication.

Government Promises Less Red Tape

It is official now, red tape can and does hold back small businesses and they can become more efficient and effective if it is reduced, says the Forum of Private Businesses (FPB).In response to a recent report from the business enterprise and regulatory reform minister, John Hutton, the FPB commented that while the government did recognize the need for change in its ‘Next Steps to Regulatory Reform’ it also needed to take proactive steps to alter the existing rules.Only with removal of red tape can small businesses and entrepreneurs be truly able to develop. “The government's promised actions are limited entirely to 'better' regulation, and there is no recognition at all that a reduction in the stock of regulations is necessary," says FPB representative Martin Smith.By 2010 the government has promised to cut down red tape by 25%.

A Reality Check for Start-ups

Like in every phase of life it is important to plan, prepare and anticipate before one actually begins a start up.There are certain business skills that are basic to any business and must be considered by all entrepreneurs.... It is crucial to understand the cash flow in the company and investing in on-demand small business infrastructure can help tremendously.Next it is important to do a proper product survey and understand your competitors.

U.K Taskforce for Women Entrepreneurs

The Department of Trade and Industry has set up a taskforce that will provide a model for women entrepreneurs and help them break away from the mind set of owning small businesses that are more to do with passion and less to do with profits.The taskforce is led by Australian Glenda Stone, who says that women usually start businesses for the wrong reasons; they are guided by passion for their venture rather than the basic principles of finance and profits.The taskforce aims to change the trend of ‘cottage industries’, that women entrepreneurs usually focus on, to new ones that generate more wealth and jobs, and plan to grow and expand.Surveys and studies by the Warwick Business School and the Global Entrepreneurship Monitor reveal that women entrepreneurs prefer to invest small amounts of capital and are averse to taking high risks.Ms. Stone adds that women entrepreneurs need to focus on business finance and technology and should not restrict themselves only to retailing and personal business; ‘profits before passion’ she says should be the mantra of businesswomen.A misconception she says that mumpreneurs seem to have is that a home business allows them more time and flexibility.

Franchising is the Best Option

Whether it is the brand name that instills confidence or the level of motivation of new business owners, the fact of the matter is that franchising is perhaps the best thing that has happened to the U.K. economy.In this year’s survey by NatWest and British Franchise Association (bfa) the franchise industry reported a 4.9% growth as compared with the 2.7% growth in the economy of U.K in 2006.The franchise industry had a turnover of £10.8 billion and as high as 93% franchisees reported profitability.... Whilst we continue to hear about redundancies in the media, it seems that franchising is not only helping people realise their dream of self-employment but also has an impact on job creation, helping to plug the gap created by corporate redundancies,” says Dan Archer of bfa.An increasing number of people are preferring to start their business with a franchisee while businesses are also showing a growing inclination to expand with franchise.

A Degree Not Essential for Business Success

A recent research done by  YouGov for Barclays Local Business Banking has something different to report.According to the survey only a tenth of the respondents believe that a good education is essential to be successful in business. In fact only 43% of the respondents had a degree.This may be due to various reasons, the most important being that a college degree brings along with it student loans that need years to be paid off and many young people prefer to skip the college experience and want to get more experience in the ‘real’ world.“This survey really does suggest that entrepreneurialism is a quality born to people, rather than taught,” says John Davis, the marketing director for Barclays Local Business.In a more region specific view of the subject it was found that less than half of the business owners in the South West had degrees, while in the North East it was 36%.

Generation Y entrepreneurs on the rise.

She argues that this generation may very well be the most entrepreneurial generation ever, she writes:"....New technologies, a proliferation of resources, and a disenchantment with the corporate world are making Generation Y the most entrepreneurial in history. From magazine publishing to delivering fresh-baked cookies, the rising business stars named to our annual 30 Under 30 list are transforming existing industries and blazing trails with new ones...."It is a great read - we see the same thing in our client base and maybe our Governments will wake up one day to understand what is happening.

HMRC against equality between man and women?

Indeed it appears that the government of the time was fully aware of the consequences of it's tax legislation, when Minister Norman Lamont said:"Independent taxation is bound to mean that some couples will transfer assets between them with the result that their total tax bill be reduced.... Surely the HMRC knew about this, it's assertion that it puts other business at an disadvantage or is unfair to other tax payers is the usual smokescreen, when they have wasted lots of tax-payers money on a court case that should never have been.

Management of Mobile Workers

It provides employees flexible working conditions that empower them and is also beneficial to the business.Mobile working ensures that the business doesn’t have to worry about office space for the mobile workers but this however does not mean that the business owner is not responsible for ensuring that the employees are provided the same connectivity as the office bound employees.A recent report of a study undertaken by CISCO underlines the need for good management when it comes to mobile workers.... While under communication may make the employees feel isolated and unclear of work goals, over communication may lead to undermining the trust of mobile workers.Stuart Duff, the author of the report is also an occupational psychologist at Pearn Kandola, says “As the mobile working phenomenon continues to grow, organizations must ensure that they have suitable leadership in place to manage teams of mobile workers.”The recruitment of mobile workers is of utmost importance and business owners need to look for self motivated, confident, determined and independent workers.

Businesses Benefit From Switching Off Computers

What may be a choice of convenience is actually costing the company and the environment dearly.According to a report by software solution provider 1E, market research firm Harris Interactive and Alliance to Save Energy, 104 million employed people work on computers everyday and a shocking 60% or 62.4 million do not shut their computers when they leave for the day.... This is money that can be utilized for more productive reasons and can well be controlled simply by adopting a policy to turn off computers at the end of the work day.Every year we pump 14.4 million tons of CO₂ into the environment only due to the computers that are on at night, even if they are in hibernation mode.

Aid for small business revamped or canceled?

It feels like Arctic winter.The insults to small business carry on and on in this piece and I am left with a few questions: What is wrong with wanting to stay a small business and have some life balance?Why don't they do the things we all pay them for, to make our lives easier, for instance by reducing red tape?Why are politicians, who do not know the first thing about running a business, always try to tell us, the business community, what we should do?But it is not all bad news he want to hear from us, he asked us:WHAT SHOULD THE MINISTER DO? Write to him at the Department of Business, Enterprise and Regulatory Reform, 1 Victoria Street, London SW1H 0ET or e-mail him direct at mpst.timms@berr.gsi.gov.uk.Here is an idea, maybe one could stop changing names so often, it would save money i.e waste less of our tax-payers money, be good for the environment, get people less confused and could - although I'm not sure about this one - increase productivity in these departments, maybe?Why not write to him, I will?

Turn a Hobby into a Home Business

An interest or hobby can be developed into a home business after you have done the required research to decide if your favorite activity can actually bring in profits. Is candle making what impassions you? Then how about considering it as a home business? The National Candle Association of the U.S. states that the profession…

Rise of SOHO

It is interesting to note that the concept of a SOHO is not a new one but actually has been in existence since before the 19th Century. It is after the industrial revolution that larger industries and corporations came up in order to lower overhead costs. However the mid 1990s saw several dramatic changes in…

Incentives for Small Businesses to Turn Green

The threat to our natural habitat due to global warming is a dramatic and urgent one that requires effort on the part of all organizations, big and small. And to provide SMEs an incentive to move towards this direction Shell Springboard is offering awards amounting up to £40,000. In a research study undertaken by the…

Data Protection Necessary for SMEs

In a recent research study by Enterprise Storage Group (ESG) it was reported that as many as 52% respondents felt that their current data protection had scope for improvement and their back up and recovery systems were lacking. Interestingly data loss is one of the main reasons that SMEs need to seriously consider data protection.…

Entrepreneurs Slow to Turn Business Ideas into Practice

The start point of any great venture is a terrific business idea, but when that business idea is not worked upon and turned into a concrete business plan and implemented, it often dies a silent death. A research study by NatWest indicates that 17 million people in the U.K. were sitting on their business idea…

A Financial Break for Business Start-ups

Most potential business owners are known to shy away from actually starting their own venture simply because they are unsure about how get funding. The lack of capital is the most common reason that a business start up doesn’t work and closes down soon after it began. A research study taken on by NatWest cites…

In the words of Lord Clyde

Arctic Systems maybe another example of the aggressive nature of HMRC when pursuing taxpayers, however, Arctic Systems is certainly not the first case in history where the Revenue ‘HMRC’ has pursued a taxpayer for arranging their affairs in a more beneficial manner for taxation purposes. It brings to mind a case many years before I…

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