Friday 31 July 2009

Rise in business libel cases

Businesses are increasingly using courts to defend their reputation, according to new figures released by legal publisher Sweet & Maxwell.

According to the figures, the number of defamation cases being brought to courts by companies increased from 59 to 78 in the last year.

However, with the majority of cases being settled privately before they reach court the actual number of cases is substantially higher.

"All kinds of litigation increase in a downturn and libel is no different. Business are more likely to sue to protect their reputation when times are tough in the same way as they are more likely to sue to recover money they are owed," said Emma Woollcott, a libel specialist at law firm Mishcon de Reya.

www.ukba.co.uk

Thursday 30 July 2009

Small firms warned over VAT change

Millions of small businesses face a potentially crippling tax bill because of confusion about changes in VAT, according to the Federation of Small Businesses (FSB).

The FSB claim that many small companies are confused about how much tax they should be paying from next year, when VAT reverts to 15% from 17.5% on the 1st of January 2010.

"Companies will be suffocated by further red tape as a result of the change and will face crippling tax fines if they get their tax wrong." Said Stephen Alambritis of the FSB.

In April this year the government doubled the standard penalty for companies that make an error on VAT payments

www.ukba.co.uk

Wednesday 29 July 2009

Digital Britain - what does it mean for SMEs?

The Mail on Sunday and Microsoft have formed a rolling 90-day SME Advisory Panel with Lloyds TSB Commercial, the Federation of Small Business (FSB) and AIMS (accountants for business). Meeting last week, the panel's focus was to garner opinion on the state of the economy, focusing on the Government's Digital Britain report <http://co1piltwb.partners.extranet.microsoft.com/mcoeredir/mcoeredirect.aspx?linkId=12272612&s1=87f0afaa-993e-cd03-6e64-722429291a16> and discussing how broadband bandwidth can help shape the future of the UK and aid bounce-back of the economy.

Main points arising from the panel discussion included:

- The UK economy is set to shrink by 4.5% in this year and many are warning that hopes of economic recovery are running ahead of reality as unemployment continues to rise
- To talk of revival or even green shoots would be naive and recovery from the recession is expected to take at least three years
- Confidence is beginning to rise as people want to get on with their lives
- A digital infrastructure is the critical catalyst required for the revival

Visit the SME Advisory Panel <http://co1piltwb.partners.extranet.microsoft.com/mcoeredir/mcoeredirect.aspx?linkId=12272613&s1=87f0afaa-993e-cd03-6e64-722429291a16> website to read more on the discussion and view podcasts on engaging with customers and planning and investing for the future.

www.ukba.co.uk

Tuesday 28 July 2009

Midlands Companies Go European

I am indebted to my good friends at The National B2B Centre in Warwick who tell me that Advantage West Midlands has unveiled its plans to encourage region wide involvement in business opportunities and collaborative projects in Europe http://www.wmictcluster.org/europe/ . AWM is also aiming to help SMEs in the region to benefit from European funding and will provide clear guidance on support services available. The core sections of the European section of the ICT Cluster website are updated frequently and consist of European Programme calls, tender opportunities, events and news. Additional features scheduled for the next few weeks will include regional support services; national contact points for the various programmes; and a “jargon buster” to assist those new to working in the arena of European project opportunities. It's aimed at any organisation involved in providing technology services and products, including regional businesses involved in ICT, education, science parks, researchers and Chambers of Commerce.
Source: National B2B Centre http://www.nb2b.co.uk http://www.mgba.co.uk http://www.ukba.co.uk

www.ukba.co.uk

Leadership, Intangibles and Talent Review Q2 2009

Reading through this quarter’s articles, there were plenty of pieces rehashing practical tips on how to deal with the recession. However, there are a number of interesting ideas and themes lurking beneath the surface;

* Intangibles such as engagement, networking and collaboration are hot topics but managing these issues is easier said than done
* New technologies have the potential to revolutionise the way we understand organisational behaviour, although the appetite for this information is as yet unclear
* Line managers can play a pivotal role in developing engaged employees and this has implications for how organisations approach talent management
* Firms are waking up to the importance of engagement, in these recessionary times, once costs have been stripped out, the need to do more with less is paramount
* Knowledge is key to value creation but how we educate and train for working with this often intangible and unpredictable environment is unknown

Articles are included from the likes of the American Society for Training & Development, Aviva, Deloitte, Institute of Employment Studies, Professor David Guest, Towers Perrin and Watson Wyatt.

Source: Four Groups

Download your copy by clicking here

Leaders and Managers Grant - up to £1000 for the personal development of leaders within your business - find out more here

www.ukba.co.uk

Monday 27 July 2009

Reach New Markets with Google AdWords & Export Partners

There are 1.2 billion online consumers around the world...wouldn't you like to add some of them to your customer base?

Despite the pound standing at an all time low against the Euro and weak against other currencies, only 75,000 businesses in Britain are currently exporting. The EU recently identified a number of barriers to export for SMEs including: language and cultural barriers, cross-border logistics and payments, administrative barriers and advertising challenges, highlighting the need for UK business support in this area.

Google, in partnership with Applied Language Solutions, HSBC, Royal Mail, Institute of Export, UK Trade and Investment (UKTI) and Alibaba.com have launched a new comprehensive export solution called the Export Adviser, for UK businesses interested in exporting their goods and services abroad.

The Export Adviser is a 5 step how-to toolkit to guide you through the exporting process. The site includes expert advice for novice exporters, as well as new tools and incentives for existing exporters looking to reach new customers in new markets. The site also includes a brand new tool to help businesses find their market hotspots overseas. Using data from the millions of Internet searches conducted on Google worldwide you will be able to see the estimated cost-per click for a variety of markets based on your keywords. This will enable you to make informed decisions on where you should target your international campaigns and improve the overall performance and return on investment of your AdWords account.

Read more - click here.

www.ukba.co.uk

Sunday 26 July 2009

One in three small businesses unaffected by recession

Six months after the Office for National Statistics (ONS) officially announced that the UK is in recession, a new report from Intuit, reveals how small businesses have been performing over the past 12 months.

The results of the research show that one in four small businesses felt no noticeable effect, and 35% had felt a negligible impact from the recession hitting the UK economy.

On the flip-side, one in twenty small businesses have been impacted so severely that their viability is in question.

Recession survival down to initiative and practical actions
Three quarters of small businesses put surviving the recession down to the strength of their own determination and initiative. Only 23% of respondents felt it had been easy to access external help and advice during the recession.

To survive the recession small business owners have used their initiative and adopted some sound business tactics. The most common initiative, used by 45% of respondents, has been to reduce overheads and tightly manage outgoings.

It may be a surprise to learn that the second most popular step, which nearly a third of small business owners took, was to introduce new products or services. This approach flies in the face of the common opinion that businesses should focus on their core operations during a downturn.

www.ukba.co.uk

Saturday 25 July 2009

Swine flu: Is your business prepared?

Only 37% of the South East’s small and medium sized enterprises have plans in place to deal with a major emergency.* Business owners should act to help protect staff from swine flu and prepare for possible disruption to their operations.

Swine flu - Steps to prepare your business

Business Link have compiled some top tips to help you plan for and cope with swine flu, including:

- Recommendations for workplace hygiene.
- Putting contingency plans in place.
- Managing employee absence.

Full guide available here: http://www.businesslink.gov.uk/bdotg/action/detail?itemId=5001344587&type=ONEOFFPAGE&site=210

* Source - South East Business Monitor (2007)

www.ukba.co.uk

Friday 24 July 2009

New research suggests the recession has levelled out for small businesses

Small businesses are now more optimistic about their immediate sales prospects, according to the latest Quarterly Survey of Small Business in Britain by The Open University Business School in association with Barclays Bank and ACCA. While 49% of small firms reported that sales were down over the year, most notably in manufacturing and construction, fewer firms now expect to cut employment, and 62% of small firms have not changed employment levels over this past year.

Almost half of respondents, especially those employing more than five people, now aim to expand over the next three years. Within this group, 34% have seen an increase in sales over the past year showing resistance against the generally poor performance of the economy as a whole.

The biggest improvements are for hotels and restaurants (up from -20% to +27%) and retail (up from -27% to +23%). However while construction does not appear to be suffering as much as in 1991/92, it is the sector with the greatest net cuts as it saw a 30% cut in employment, 20% cut in investment and a 20% drop in selling prices.

Read more: http://www3.open.ac.uk/media/fullstory.aspx?id=16485

www.ukba.co.uk

Thursday 23 July 2009

Small business lending increases in May

The latest figures from the British Bankers' Association (BBA) show that lending to small businesses rose in May. According to the BBA's statistics, lending to small firms increased by £153 million in May, compared to April, while over 45,000 new small business banking relationships were established.

For more on this story go to:
http://www.bba.org.uk/content/1/c6/01/62/98/Small_Business_Monthly_Press_Release%20May%2009.pdf


www.ukba.co.uk

Wednesday 22 July 2009

The Queens Award For Enterprise

Awards For Outstanding UK Businesses

The Queen's Awards for Enterprise are the UK's most prestigious awards for business performance. Winners receive a range of benefits including worldwide recognition and extensive press coverage.

The Awards are presented in three categories: International Trade, Innovation and Sustainable Development, and are open to all business units that meet the entry criteria.

Find out more: http://www.queensawards.org.uk

www.ukba.co.uk

Tuesday 21 July 2009

Changing terms and conditions of employment

It is not unusual for employers to want to change their employees' terms and conditions of employment to bring them into line with changes in the law or developments in the sector, or just to make them more user friendly.

Recently, however, many employers have considered doing so to save costs in the current economic downturn. For example, by changing shift patterns to reduce the need for overtime, removing benefits that can no longer be afforded, or even reducing rates of pay.

It must be remembered that a contract of employment is like any other contract, and generally cannot be varied unilaterally. Also, each employment contract is a unique agreement between the employer and the individual employee. The fact that more than 99% of the staff have agreed to a variation will not make it binding on the one individual who has not.

However, there are ways and means by which employers can achieve the desired objective.

Read more here: http://www.fpb.org/hottips/452/Changing_terms_and_conditions_of_employment.htm

Author: http://www.maceandjones.co.uk/


www.ukba.co.uk

Monday 20 July 2009

Economic recovery in UK 'on hold'

The UK economy is set to shrink by 4.5% in this year, the biggest fall in a single year since 1945, according to an influential think-tank.

The downbeat forecast is more pessimistic than the consensus view, and considerably worse than the 3.5% fall predicted by the government.

The Ernst & Young Item Club also warned that hopes of economic recovery are "running ahead of reality".

The Item Club also warned of the threat posed to the economy from swine flu.

If doomsday predictions about the extent of the flu outbreak materialise, it forecast a further 3% contraction in GDP this year, on top of the 4.5%.

The flu could also wipe out any growth next year, with a worst case scenario of a further 1.2% contraction.

The Item Club also predicts that UK interest rates will be kept at their current level of 0.5% well into next year.

Read more: http://news.bbc.co.uk/1/hi/business/8157876.stm

www.ukba.co.uk

Sunday 19 July 2009

Media moguls set up venture capital fund for digital start ups

A group of media entrepreneurs have teamed up to form an investment fund for European digital start ups. The co-founders of Bebo and lastminute.com, along with the founders of Freedom4Group and LongAcre Partners, have set up venture capital firm PROfounders Capital. Michael Birch, founder of social network Bebo, said that the fund is "an opportunity to help nurture new initiatives when digital is becoming part of the fabric of our daily lives".

To read more on this go to:
http://www.profounderscapital.com

www.ukba.co.uk

Saturday 18 July 2009

The International Accounting Standards Board (IASB) issues an International Financial Reporting Standard (IFRS) designed for use by SMEs

The IFRS for SMEs is a self-contained standard of about 230 pages tailored for the needs and capabilities of smaller businesses. Many of the principles in full IFRSs for recognising and measuring assets, liabilities, income and expenses have been simplified, topics not relevant to SMEs have been omitted, and the number of required disclosures has been significantly reduced. To further reduce the reporting burden for SMEs revisions to the IFRS will be limited to once every three years.
Benefits

The IFRS for SMEs responds to strong international demand from both developed and emerging economies for a rigorous and common set of accounting standards for smaller and medium-sized businesses that is much simpler than full IFRSs. In particular, the IFRS for SMEs will:

:: provide improved comparability for users of accounts
:: enhance the overall confidence in the accounts of SMEs, and
:: reduce the significant costs involved of maintaining standards on a national basis.

Read more: http://www.iasb.org/News/Press+Releases/IASB+publishes+IFRS+for+SMEs.htm

www.ukba.co.uk

Friday 17 July 2009

Olderpreneur Loan!

To help people aged over 50 get access to funds to become self-employed or set up their own business, PRIME has arranged an innovative loan scheme together with Zopa Ltd and the charitable arm of Bank of America. It does have funds to lend despite the credit crunch - but the application process is highly competitive. So this scheme is not for everyone, but only those with a strong viable business proposition.

Find out more: http://www.primebusinessclub.co.uk/loan-fund/

www.ukba.co.uk

Thursday 16 July 2009

Importance of green issues "overblown" for small firms, say owners

A survey of business owners has revealed that some believe the importance of environmental issues is "completely overblown" for small firms and is used as an excuse for higher taxation. That's according to the results in the Business and the Environment report, which has been published by the UK200Group. The survey of small business owners reports that there is an almost even split between firms that have undertaken measures towards improving environmental performance, such as recycling and energy efficiency measures, and those that haven't.

To read more on this story go to:
http://viewer.zmags.com/publication/ac7c9839#/ac7c9839/1

www.ukba.co.uk

Wednesday 15 July 2009

Realise your international potential - read the Economists Intelligence Unit's report on global trade

Even in a global downturn, there are still profitable opportunities in international trade. Smart organisations will look to take full advantage of their global trade potential - to consolidate their competitive position.

In our latest report, 'Exploring the Changing Global Landscape for UK Companies', the respected Economist Intelligence Unit provides expert analysis and commentary on the changing global environment. The report looks at the latest trends in the world economy and how they are impacting on UK businesses. It also identifies sectors and geographic markets where growth potential lies.

Whatever the scope of your international operation - import/export, outsourcing, strategic alliance building or acquisition - this report will provide you with invaluable, authoritative analysis. As part of our commitment to helping you maximise your global trade potential, we're pleased to offer you a free copy - http://globaltrade.rbs.co.uk/.

Source: RBS

www.ukba.co.uk

Tuesday 14 July 2009

Limited company sub-contractor deemed to be 'employee' in unfair dismissal claim

A recent Employment Tribunal has found in favour of a limited company sub-contractor, who successfully managed to claim for unfair dismissal against his client as his working practices were seen to be akin to those of an 'employee'.

Andrew Tilson, a sub-contractor, working through his own limited company, took Alstom Transport to an employment tribunal - claiming for unfair dismissal.

Alstom, which operates several underground train services in the capital, claimed that Tilson could not claim for unfair dismissal as he was working via his own limited company, and was not an employee.

However, Tilson's barrister argued that, despite paying his own income tax and NICs, the way the claimant interacted with Alstom at the Golders Green depot was the true indicator of his employment status.

The Tribunal Judge agreed, and said that the close working relationship between the claimant and Alstom Transport demonstrated that Tilson was, in fact, an "employee", and could therefore claim for unfair dismissal under the terms of the Employment Rights Act 1996.

This hearing could have have ramifications for users of sub-contractors in many other industries apart from IT, and is more evidence that the true employment status of contractors can only be derived from the true working practices they follow, rather than the wording of any contracts they have in place, or the company structure they work under.

www.ukba.co.uk

Monday 13 July 2009

€100 million EU micro-finance facility to help unemployed start small businesses

The European Commission has on July 2, 2009 proposed to set up a new microfinance facility providing microcredit to small businesses and to people who have lost their jobs and want to start their own small businesses.

It will have an initial budget of €100 million, which could leverage more than €500 million in a joint initiative with international financial institutions, in particular the European Investment Bank (EIB) Group. The new facility is one of the actions announced in the Commission's communication: 'A Shared commitment for employment' on 3 June

Read more: http://ec.europa.eu/social/main.jsp?langId=en&catId=89&newsId=547&furtherNews=yes

www.ukba.co.uk

Sunday 12 July 2009

New Employment Measures Necessary During Critical Recovery Period

Alternative to redundancy proposed

Business leaders believe a package of labour market investments and reforms, including an alternative to redundancy, could help stem the tide of job losses as the recession pushes unemployment towards three million.

A report by the CBI and Siemens plc also highlights longer-term issues and warns that levels of employment regulation are at a "tipping point", having added £70bn to business costs since 1998.

The report stresses that the UK must work much harder to remain an attractive global jobs destination, and that there is a need to improve skills levels and assess the real impact of employment laws on future job creation.

Although firms are doing their utmost to protect jobs by introducing flexible working and pay freezes, the CBI predicts that unemployment will continue rising to peak at 3.03 million in the second quarter of 2010, so action taken in the short term could still save jobs and businesses.

Read more: http://www.cbi.org.uk/ndbs/press.nsf/0363c1f07c6ca12a8025671c00381cc7/9b9a4bacc1622174802575e400370f75?OpenDocument

www.ukba.co.uk

Saturday 11 July 2009

Government aims for £1 billion venture capital fund to the businesses of the future

The Prime Minister has announced the creation of the UK Innovation Investment Fund to invest in technology-based businesses with high growth potential. The new fund will focus on investing in growing small businesses, start-ups and spin-outs, in digital and life sciences, clean technology and advanced manufacturing.

The Department for Business, Innovation and Skills, with the Department of Energy and Climate Change and the Department of Health, will invest £150 million alongside private sector investment on an equal basis known as pari-passu.

It is the Government's belief that this could leverage enough private investment to build a fund of up to £1 billion over the next 10 years. The UK Innovation Investment Fund forms part of the Government’s strategy for Building Britain’s Future.

Gordon Brown said:

“This fund will help build Britain’s future by investing in key sectors. It will provide crucial support for our most promising start-ups and existing small companies just when they need it most. Venture capital finance is the lifeblood of innovation and crucial to ensuring the commercialisation of the discoveries coming out of our research base. The fund will boost future UK competitiveness.”

Lord Mandelson, Secretary of State for Business, added:

“In our New Industry New Jobs strategy we identified access to venture capital as one of the critical factors in developing innovative new companies in Britain. The UK Innovation Investment Fund will be a shot in the arm for the British venture capital industry. It is also a challenge to UK venture capitalists to follow the Government’s lead in backing British entrepreneurs in building exciting new companies, investing in new technologies and creating jobs.”

Science and Innovation Minister Lord Drayson, who has been a champion for the fund, added:

“We must safeguard the Government’s record investment in the science and research base over the past decade. We cannot afford to lose out on the wealth this investment can yield and we will need this wealth to continue our sustained investment in research.”

Simon Walker, CEO of the British Venture Capital Association (BVCA), said:
“The BVCA is immensely encouraged by this venture capital initiative. The model that has been adopted is one which we have championed in our work with the Government leading up to this announcement. The UK Innovation Investment Fund offers an exciting economic incentive for more than a thousand young venture-backed companies and the ideas and jobs which they represent.”
Richard Pelly, Chief Executive of the European Investment Fund (EIF), said:

"EIF has been working together with the UK Government, the BVCA and other significant players in the Venture Capital sector in the preparation of this welcome new initiative, and is delighted to support its launch today.

“At a difficult time for the VC industry the UK Innovation Investment Fund will underpin a next round of critically important fundraising for Fund Managers, and EIF looks forward to continuing to contribute its extensive experience to the development of this process."

The UK Innovation Investment Fund will operate on a Fund of Funds structure which means it will not invest directly in companies, but rather invest in a small number of specialist technology funds that have the expertise and track record to invest directly in companies. The fund will provide a cost effective solution that provides a market return to both private sector investors and HM Government.

The Prime Minister is today publishing a plan for Building Britain’s Future. It is a radical vision for a fairer, stronger and more prosperous society. Public service entitlements will for the first time be guaranteed to parents, patients and communities. New measures, such as the UK Innovation Fund, will also drive economic growth and create jobs.

URL: http://www.hmg.gov.uk/buildingbritainsfuture

Source: Department for Business, Innovation and Skills

www.ukba.co.uk

Friday 10 July 2009

Do I Need A Business Plan

Not everyone who starts and runs a business begins with a business plan, but it certainly helps to have one. If you are seeking funding from a venture capitalist, you will certainly need a comprehensive business plan that is well thought out and demonstrates sound business reasoning.

If you are approaching a banker for a loan for a start-up, you will require a business plan. If you have an existing business and are approaching a bank for capital to expand the business, they often will not require a business plan, but they may look more favourably on your application if you have one.

Reasons for writing a business plan include:
- Support a loan application
- Raise equity funding
- Define objectives and describe programs to achieve those objectives
- Create a regular business review and course correction process
- Define a new business
- Define agreements between partners
- Set a value on a business for sale or legal purposes
- Evaluate a new product line, promotion, or expansion

Read the full article here: http://ukba.co.uk/index.php?option=com_content&task=view&id=45#bp2

Download a free business plan template - click here.

Source: Palo Alto Business Software
www.ukba.co.uk

Thursday 9 July 2009

Claim back taxes by loss planning

Maximising the amount and speed of reclaiming cash does involve knowing the rules, they aren't as wide as MPs' expense rules, but they do have some flexibility which can be missed.

Individuals

Let's start with the rules for individuals in business trading personally, or in partnership but not through a company.

1.You can take £50,000 of losses back up to three years. This is a temporary measure with strict time limits.

2.You can offset losses against other types of income and gains in the year the loss happened, or the prior year.

3.If your business does cease to trade, losses in the twelve months before ceasing can be carried back up to three years.

4. Losses can also be carried forward against future trading profits.
If, for example, a business incurring losses of £70,000 in 2009 after several successful years, that loss could be carried back to 2008 in full, or to 2008, 2007 or 2006 capped at £50,000. It can be offset in full against other income or gains (say on a second home) received in 2009.

There is also the option to carry forward against future trading losses. Which will depend on two things:

- how desperate the business is for cash
- which year has the highest tax rate (it might be 41 pence in the pound for losses, or take 30 pence to get the cash now).

It is also often forgotten that if you carry back a trading loss or use it against other income, you can ALSO use it against future profits for Class 4 National Insurance purposes. A £20,000 loss could mean up to £1,600 off class 4 NI payments in the following period. Something definitely worth having!

Read more about Company and Group tax planning by clicking here.

Author: Duncan Montgomery is a tax partner at Whittingham Ridell, Shrewsbury, Shropshire and a member of the UK200Group tax panel.

Source: Forum for Private Business - www.fpb.org

www.ukba.co.uk

Wednesday 8 July 2009

A business plan to obtain funds takes much longer and depends on the company size and complexity

For example, if you are looking to apply for venture capital or business angel funding, the 8 points of interest to a potential investor are:

:: What is the business?
:: What is the product/service?
:: What is the market place?
:: What is the future potential of the business?
:: What are the forecast profit and turnover figures?
:: What is the investment required?
:: What are the prospects for the Investor?
:: What is the exit strategy?

Also the executive summary is very important - 90%+ of all angels will only read the executive summary and if it does not include the 8 things that interest them there is a very strong likelihood that they will give up and start on reading the next plan.

The executive summary should be no more than 2 pages in length.

Free Business Plan Template: click here to access
www.ukba.co.uk

Tuesday 7 July 2009

Government predictions are for the UK economy to shrink by 3.5% in 2009 and recover slowly in 2010 registering an increase of 1.25%

The economic destabilisation caused by the credit crunch has had a devastating effect upon the global economy, with particularly severe consequences for export-orientated economies as consumer demand fell due to the limitation of credit, unemployment increased and the financial sector tipped the real economy into recession.

Though the trend of these events could be forecast, the scale has taken many by surprise.

Government predictions are for the UK economy to shrink by 3.5% in 2009 and recover slowly in 2010 registering an increase of 1.25%, before resuming above trend growth in 2011 with a 3.5% increase in activity.

Other forecasters are more cautious. The British Chamber of Commerce predict -3.8% in 2009 and +0.6% in 2010, whilst the CBI suggest growth rates of -3.0% in 2009 and +0.7% in 2010. These estimates
are close to the consensus of a panel of economists, whose predictions are -3.7 and +0.7 accordingly.

Therefore, the broad view seems to be that the economy will begin to recover in Spring 2010 and produce a modest net rate of growth by the end of that year.

Author: Phil Whyman, Professor of Economics at the University of Central Lancashire

Read more: http://www.fpb.org/hottips/440/Mid_year_economic_forecast.htm

Source: Forum for Private Business - www.fpb.org

www.ukba.co.uk

Monday 6 July 2009

Having a business plan, is key to ensuring that your business ends up being how you want it to be

Are you a small business struggling to complete a business plan in order to run your business or required by your bank as a condition of a loan?

Or maybe you are a larger, mature business looking for some help with some strategic business planning?

You wouldn’t try and climb a mountain without being prepared (map, compass, equipment, food drink, etc) so why would you start or run a business without knowing where you are going?
Whatever your planning need – you have come to the right place!

What does a business plan do?

* Gets the ideas from your head onto paper
* Gives you clarity and focus for your business
* Allows you to budget and manage your cash flow
* Helps you identify your products, services and the market

What’s in a business plan?

* Vision – your future aspirations
* Mission – what you do for your clients
* Objectives – defined targets for your business
* Strategies – how are you going to get there
* Plans & Actions – what you are going to do to successfully achieve it

A working business plan need not cost the earth or take weeks to develop. The UKBA™ can do this interactively with the business owner in less than a day at a cost of £600 or less! - This is less than you would pay for a plumber or for a garage to repair your car and is certainly more cost effective than your accountant!

Find out more about business planning: http://ukba.co.uk/index.php?option=com_content&task=view&id=25&Itemid=40

www.ukba.co.uk

Sunday 5 July 2009

Small businesses buckling under the burden of regulation

According to the FPB's latest Referendum survey on the ‘cost of compliance', small business employers devote an average of 37 hours each month to complying with regulations. The FPB believes that reducing the time and cost of complying with legislation must not be sidelined, particularly as many firms are struggling to survive because of the recession.

The FPB's Policy Representative, Matt Goodman, will attend a meeting of the Better Regulation Executive (BRE) on Friday, 26 June 2009. The meeting follows reports that the Government is not pushing through plans to reduce regulation following its scrapping of ‘regulatory budgets' that had been earmarked for individual departments.

In addition, two committees on regulation announced by Peter Mandelson in April, the Secretary of State for Business, Innovation and Skills (BIS), have still not been set up. Further, in a recent blog on its website, and ahead of the publication of the Treasury's forthcoming consultation on regulating lenders, the BRE said that ‘financial services [are] at the forefront of our issues now'.

Read more: http://www.fpb.org/news/2194/Small_businesses_buckling_under_the_burden_of_regulation.htm

Source: Forum for Private Business

www.ukba.co.uk

Saturday 4 July 2009

Outsourcing contracts under greater scrutiny, survey finds

One in four businesses that outsource are planning to renegotiate the terms of their outsourcing contracts in response to the economic downturn, according to a survey of 200 businesses in the UK.

Perhaps unsurprisingly, the most common term for renegotiation is the price of the contract, according to research commissioned by Pinsent Masons, the law firm behind OUT-LAW.COM. One in ten respondents said that they intend to bring outsourced processes back in-house.

Nearly two-thirds (63%) of the businesses polled said they would not be reviewing their outsourcing arrangements with their current supplier, mainly to avoid the time-consuming and expensive tender process associated with a new procurement process.

It is widely regarded as best practice for a business to review regularly its outsourcing suppliers. However, because most businesses are focused on reducing costs, relatively few are asking their outsourcing vendors to retender this year.

Read more: http://www.out-law.com/page-10127

Source: Out-Law.com

www.ukba.co.uk

Friday 3 July 2009

Carbon Trust expands interest-free loans to help more SMEs survive the recession and cut carbon

The Carbon Trust is to improve access for small and medium businesses to over £100m in interest-free and unsecured loans, it was announced today. The move is intended to help more businesses survive the recession by cutting both their energy costs and their carbon footprints.

Thousands of small businesses have already slashed their annual energy bills, some by as much as 75%, by installing new energy-saving equipment paid for by Government-funded Carbon Trust loans.

Now the Carbon Trust has extended eligibility for the recently-expanded loan fund. The minimum loan amount has been lowered to just £3,000, putting the loans within reach of micro-businesses; the upper limit has been doubled from £200,000 to £400,000 to meet the needs of small and medium businesses with high energy spends, such as manufacturing companies.

The Carbon Trust expects to deliver over £100m in loan funding to UK SMEs over the next two years, including almost £84m in England allocated by the Government as part of Budget 2009.

In most cases, businesses taking a Carbon Trust loan to update their equipment find the savings they make on energy bills exceed the cost of the loan repayments. This means they benefit from brand new equipment, increased efficiency and reduced running costs, all at no expense to themselves. They also help to drive the UK’s move to a low carbon economy.

Read more: http://www.carbontrust.co.uk/News/presscentre/loans-expansion.htm

www.ukba.co.uk

Thursday 2 July 2009

SMEs 'must show financial transparency'

Credit ratings expert calls SMEs to show 'financial transparency' if they want to avoid lending decisions being based on accounts compiled during the recession

Confidential financial information may have to be disclosed by small and medium sized companies if they want to avoid lending decisions being based on accounts compiled during the recession.

An economic upturn is expected in 2010 but credit decisions for small to medium enterprises, the bedrock of the UK economy, may be based on statutory accounts two years old, a credit ratings expert and the UK’s largest trade credit insurer have warned.

Read more: http://www.accountancyage.com/accountancyage/news/2244769/smes-show-financial

Source: Accountancy Age - Written by David Jetuah

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Wednesday 1 July 2009

EU says broadband key for economic recovery

EU Telecoms commissioner Viviane Reding has commended Digital Britain's broadband proposals, but warns that Europe as a whole must have a unified broadband strategy for economic recovery.

In the Digital Britain report released last week, Lord Carter confirmed that he was looking for all UK households to be connected with a speed of at least 2Mbs, as well as a broadband tax to make sure that Britain got next-generation broadband networks.

Read more: http://www.itpro.co.uk/612109/eu-says-broadband-key-for-economic-recovery

www.ukba.co.uk