July 2007
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Day July 31, 2007

New Blog Template

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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%.

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