Tips when starting a new business

New Business

Starting New Business

Is the UK becoming a nation of entrepreneurs? According to figures released by the Office for National Statistics (ONS) the sharp fall in unemployment announced this month has partly been driven by a large rise in self-employment. The number of self-employed people increased by 337,000 to reach 4.54 million and, according to the Federation of Small Businesses, small and medium enterprises employ more than 14 million people, accounting for 59.3 per cent of private sector employment and 48.1 per cent of private sector turnover.

If you’re looking to join this growing number of small business owners there are a number of things to bear in mind:

Find a niche

Market analysis and sector research can often bring up ideas for a new business but finding your niche could equally be more instinctive. You could, for example, stumble upon a gap in the market simply by noticing something that you would appreciate as a consumer that doesn’t appear to exist elsewhere. Business opportunities are often staring us in the face and just need someone to make them a reality.

Crunch the details

It’s not enough to simply have a grand idea. You will also have to construct a business plan and research the market to ensure that your idea is viable and will actually make you money in the long run. You will need a clear idea of the costs involved in starting your business and running it on a day-to-day basis, as well as a forecast of potential profits.

Secure vital funding

The amount of funding your start up will require will depend on a number of factors. A brand new window cleaning business might not require as much initial funding as a new product manufacturer but you might still need money for a van, ladders (or a water fed pole system) and to purchase the round itself.

There’s been a lot of controversy over the amount of lending banks are currently willing to give to new SMEs but there are also alternative lenders who specialise in business lending. If you are looking for new business loans for companies in chelmsford and elsewhere in the East of England, for example, Foundation East can offer tailored loans to suit your particular circumstances.

Another option could be to pitch to potential investors. In either case you will have to pay – either the interest on a loan or a share of your profits to investors – but this is a case of speculating to accumulate and can certainly pay off in the long run.

Factors to keep in mind when having a business meeting in London

Meeting in London

Business Meeting in London

Business meetings can be compared with serving a dish. No matter how good a dish tastes, it is very important that it is plated attractively and served in a courteous manner in order to have the desired effect on the diner. Similarly, business meetings play a key role in the sales of the company and the fate of hours and hours of work of hundreds of employees can be determined by the outcome of a business meeting. When one single event holds such paramount importance, it is obligatory that everything has to be at its best possible state. One of the most important factors of organizing a business meeting is the venue. However, not always can all of us afford to have a meeting room extravagant enough to serve the occasion well. In such cases, renting meeting rooms proves to be much more beneficial. Read on to know more about hiring meeting rooms in London:

Ambience and Decor

Remember, you cannot go slack on decor and ambience when you hire a venue for a business meeting. Wood usually works well as it gives a feeling of sophistication and extravagance. Make sure that the entire room does not have any eye catching stray marks/blots/stains as these can pathologically attract the attention of your guests. Make sure that the entrance itself is impressive, after all, first impressions are last impressions. Further, check and see if there are any other parallel events that are going to be held in the course of the business meeting. Noisy events such as party’s are preferably avoided as there is hardly anything you can do to salvage a business meeting if it starts getting disrupted.

Appliances

You have to make sure and check repeatedly that the equipment needed for your meeting is present in the meeting room and has adequate back up. Test the machines repeatedly till you are one hundred percent sure that nothing is going to go wrong once the meeting starts. So be very careful and get a piece of equipment changed without hesitation if you feel it is going to give you issues. It is always better to use ones tried and tested equipment but if you fail to procure your own, you can use the above mentioned method.

Location

Make sure that the location is an appropriate one when you hire a business room in London. Hiring one in the first two floors may  prove to be anti productive as the worldly noises enter the room and disrupt the highly professional aura being laid about. Also, if the room is located at a long distance from transport hubs, you just might be successful in driving your client towards frustration. Keep in mind that a tired client is an unhappy client!

Benefits

There are various benefits of hiring meeting rooms in London. For starters the amount you have to pay as rent is much less than the cost of building a personal meeting room. It is already fully furnished which saves you the trouble of getting in equipment. According to the situation and your budget, you can get an appropriate meeting room every single time! You can impress your visitors and seal the deal by giving them much more than they expected through an extravagant meeting room!

Forex Market: Necessary Software

Forex Market

Forex Market

You can’t afford to ignore significant events in Forex trading if you strive to build long-lasting career as a financial trader at Forex market. It means that you must continuously monitor these events. So if you want to receive a stable income on Forex, you have to take into consideration a lot of factors and learn to work with the price charts. All currency trading operations are executed through the Internet.

Special trading terminals were worked out for the implementation of mentioned tasks. In order to earn money on the currency market it’s necessary to use all the capabilities of the trading programs currently available on the market. The invention of the Internet favoured the development of special trading software, which now enjoys a very wide popularity among the Forex market participants in all countries where people know about the possibilities of Forex trading. Reliable Forex trading software has to be secure and process the entire information very quickly. For the trader it’s not difficult to control such trading software. Also, one of the most significant features of any trading program is its multi-functionality. At the present time it’s not a problem to find good trading programs for effective trading at Forex. You have to know that architecture of such software is similar, because all of the trading programs are used for the same purpose. This facilitates work with Forex trading software, which is usually provided by the Forex brokers to their customers.

You have to install preferred trading software on your computer. The trading terminals have a lot of different features, but the outward appearance of various terminals used at Forex is almost similar. All trading platforms were designed in order to demonstrate the latest information about the Forex rates fluctuations. Using trading platforms you have a possibility to control the state of your trading account and observe the state of the Forex market. Advanced trading terminals enable their users to conclude currency deals at Forex. Also, you will get an access to the newest data about each potential currency transaction, the state of your positions and flows of your money funds, and many others.

Special Forex software (learn more here) is indispensable in currency trading. You will have every prospect of success if you learn to use it at Forex.

Small Business, Big Risks!

Small Business

Small Business, Big Risks!

It is certain that small businesses are more vulnerable to big risks compared to their counterparts, large businesses. Although you might not find a much clear definition as to what constitutes a small business in UK, a business with less than 100 employees is often regarded as a small business. Most business analysts contend to the fact that due to their nature, small businesses are prone to all sorts of risks, both small and big. With personal and business debt under their names, owners of small businesses have every reason on earth to ensure that their financial well being is protected. Sadly, most of them ignore such risks and realize it when it’s too late and their businesses have been adversely affected by the risks.

When you start a small business, your soul and heart get poured completely in the businesses and you get to shoulder every problem that your business experiences. More often than not, your existence determines the existence of your small business as a lot is always at stake, be it financially or even emotionally. For instance, if something affects you negatively and renders you unable to work, then your business becomes ruined as well. It even becomes worse when you are supporting a family as you will find out that even small risks can be huge risks to a small business.

Fraud and financial problems are the major problems facing small businesses in UK. Recent research has shown that small businesses usually neglect to institute basic antifraud protection and control which exposes their businesses to costly losses. On the other hand, bigger organizations are always very keen in ensuring that their businesses are covered against serious risks such as fraud. So, the only way out for these small businesses is to bridge this protection gap and make their businesses ultimately safe.

Less than half of the number of small businesses in UK feel that they are not adequately covered against the many risks especially the big ones. There are so many reasons why this is so, starting with the fact that most small businesses hold a perception that adequate coverage is too expensive for them to afford. However, they fail to consider how much money they stand to loose just in case they are rendered unable to work for some months or when some catastrophes such as theft, fire or fraud befall their small business. With such big risks confronting a small business, it’s wise to consider getting your business covered by a reputable and credible risk coverage provider.

Taking an income protection cover is highly recommended for everyone running a small business in UK just like in other regions. In case injury or sickness strikes, you can rest assured that up to or more than 80% of the business income will get replaced. So, sometimes you might need to sacrifice some of your current income for a worthy cause as well as getting an assurance that your business will survive in times of crisis. You can also get an expense cover that takes care of your personal and business expenses such as staff wages, rent and electricity and keep your business free of risks.

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Executive MBA offered by London Business School is designed for those who want to obtain a professional qualification without quitting their jobs. The program is specially being designed for those who can not take a break from their work, but propel in their career with a professional qualification. In today’s competitive world, every executive needs an additional qualification and skills to progress further in their career. Executive MBA offers the same to them. This MBA program comes from London Business School, which ranks 4th globally in 2012. The program is designed to provide management knowledge, as well as apply analytical skills and understanding through which they can prosper to any levels within the organization they work for. After the completion of 20 months program, the student would feel more confident to manage their work effectively.
 
The Executive MBA program is ideally designed for the working professionals as well as those who are looking to start their own businesses. Although many professionals with years of experience face challenges when they get promoted and have been asked to manage a team or finish a more complex task than the previous ones. This is due to the absence of certain skills which is required when a person moves up in the hierarchy. Challenges are also being faced by people who are planning to start their own business, but lack proper planning. They may have enough capital to start the business, but lack the skills which can make them a successful entrepreneur. Executive MBA has been designed to build these gaps and promises the students to come up from these challenges. The widest choice of electives helps the students to broaden their knowledge and make a career change.
 
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