Archives / 144 post/s found
Brexit – the outlook for business
The political upheavals of the last week have done little to resolve the Brexit issue, the underlying political manoeuvrings or settle a growing list of issues for small businesses across the UK. Leaving aside the political considerations we now seem to be at a point where there will be a no-deal, a compromise deal (the so-called Chequers’ plan) or a no-Brexit outcome; all are possible. Those of us working hard to build a business in the UK will be hard put to take much more of this indecisiveness. There is, however, something we can all do while [...]
Are you looking for export opportunities?
In a recent press release, the Department for International Trade promoted its enhanced Export Opportunities service for UK companies. In a nut-shell, this lists overseas governments and companies that are looking to buy UK goods and services. On the face of it, if you are looking for a source of leads for your export marketing activities, it’s probably worth taking a look. Extracts from the press release and the link to find out more are copied in below: The UK is one of the first countries in the world provide this online service, following the launch of the Export Strategy [...]
Why looking back is as important as looking forward
We are always being told not to look back. “Don’t look back, you are not going that way” is one saying that I come across often. However, the problem with that is this; only by looking back and seeing what happened and learning from our mistakes are we able to move forward taking with us the lessons that we have learned, so that we can do better, achieve more, increase our growth and improve our businesses. As we get towards the end of the year, it is important to reflect on the year that has passed, before you make plans [...]
Stress and how to combat it
Stress is one of the problems of the modern world. Some stress is necessary for us to achieve anything. If everything is effortless and easy we learn nothing, and gain no satisfaction, so some element of stress is important to us to function. However, bad stress, is exactly that; bad. Stress is one of the perils of running your own business. Do you feel pulled in too many directions, spread too thin, unable to plan forward, always fire-fighting? These feelings all contribute towards stress. Running a business relies on you being able to plan ahead, to have vision, and implement [...]
Powers of attorney
There are two types of power of attorney that you can grant: Firstly, to appoint someone you trust to make decisions about your health and wellbeing if you become incapacitated, and Secondly, to appoint someone you trust to make decisions about your finances if you cannot manage your financial affairs. You can choose to make one type or both, but please note, there is a different process in Scotland and Northern Ireland. A lasting power of attorney (LPA) is a legal document that lets you (the ‘donor’) appoint one or more people (known as ‘attorneys’) to help you make decisions [...]
Are you about to buy a second-hand commercial vehicle?
When you buy a new commercial vehicle, you will pay 20% VAT on the purchase price and in most cases this VAT can be reclaimed. This assumes of course, that the motor trader selling you the vehicle is VAT registered. If you purchase a second-hand commercial vehicle there are three VAT options: The second-hand dealer is not registered for VAT and therefore, you will not be charged VAT. The second-hand dealer is registered for VAT and only charges you VAT on the profit he is making on the sale under the VAT margin scheme, in which case you will not [...]
Small Business Saturday – 1 December 2018
Did you know that there is going to be a Small Business Saturday on 1 December 2018? We have reproduced below some of the help that will be available. Access finance available to support small businesses Are you and your business looking to start up, scale up or stay ahead? Start Up Loans of up to £25,000 can give you a much-needed boost if you’re just starting out. Or take a look at the Finance Hub and the British Business Bankfor more finance options for smaller businesses. Call the Business Support Helpline The free Business Support Helpline can help businesses of [...]
Are you in training for the Brexit Marathon?
March 2017 was the date we declared we were going to exit from the EU. This set the deadline for our national drawbridge to be raised on the rest of Europe at the 29 March 2019. This is the first time we have separated ourselves from our largest trading partner since we joined the Common Market – the precursor to the EU – 1 January 1973. It is useful, when considering the effective strategies we could employ to weather the changes that this process will likely create, to visualise the exit as running a marathon. The comparison may seem to [...]
Taxing dividends
To reduce National Insurance costs, shareholders of small privately owned companies, who are also working directors of the company, can presently restructure their remuneration package to reduce their salary and make up the difference as dividend payments. Unless this strategy is affected by the Budget at the end of this month, this remains one of the most useful ways for owner directors of small companies to reduce their overall tax and NIC costs. Dividends are not considered to be a business cost. They don’t reduce the amount of profit assessable to corporation tax. Rather, dividends are a distribution of profits [...]
What’s in a name?
Is it possible to register a trading name for an existing business? Sole traders and partnerships You can trade under your own name, or you can choose another name for your business. You don’t need to register your name. You must include your name and business name (if you have one) on official paperwork, for example invoices and letters. Sole trader names must not: include ‘limited’, ‘Ltd’, ‘limited liability partnership’, ‘LLP’, ‘public limited company’ or ‘plc’ be offensive be the same as an existing trade mark Your name also can’t contain a ‘sensitive’ word or expression, or [...]