Originally written by Anna Jordan on Small Business
If you’re thinking of alternatives to London for starting your business, you might be considering Birmingham.
In 2018, 18,590 businesses were created there and it’s the most popular destination for those moving out of the capital last year.
In this year’s Birmingham City Council update, businesses are reported to have a three-year survival rate of 51.9pc. What’s more, despite economic uncertainty, companies felt generally positive about conditions in Birmingham.
Is it really a prime spot for business, though? First, let’s take a look at some vital stats.
Population
Mid-year population figures estimate that 1,141,400 people live in Birmingham. A majority of 64.3pc are working age, 22.8pc are children and the remaining 13pc are pensioners. It has the highest percentage age of people under 20 of any core city at 28.6pc and with four universities, you’ve got plenty of access to young talent.
Crime rate
There are conflicting studies around whether Birmingham is a safe or an unsafe city. Police statistics say that in the year ending December 2018, the crime rate in Birmingham was lower than average (95.69 per 1,000 population) compared with similar areas like Manchester (172.77), Leicester (121.45) and Liverpool (120.38).
House prices
According to Rightmove, the average house price
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Entrepreneur Q&A: Peter Hillary, co-founder of Edmund Hillary clothing
by Anna Jordan • • 0 Comments
Originally written by Anna Jordan on Small Business
It’s 10pm in New Zealand and Peter Hillary, son of Sir Edmund Hillary, is chatting to me from a remote location where the WiFi can just about withstand an interview.
He explains how he and his grandchildren set up clothing line, Edmund Hillary, recreating the wares of the world-famous mountaineer.
How did the business come about?
Well, it was one of those chance meetings with a man called Mike (EH’s co-founder and CEO). He got in touch with me when we were in London attending the thanksgiving service for my father’s life at Windsor Castle.
We discussed the possibility of trying to do something like this which would also benefit the work and the legacy of my father, particularly in Nepal, but also in outdoor activities for young people.
It’s been in the making since 2008. We’ve been working on various versions of the range and in the past few years, we’ve got investment and come up with some wonderful designs and so we launched towards the end of 2018.
The thing is that the clothing really isn’t made for mountaineers, it’s more for people who like the idea of mountaineering or who are mountaineers but are off-duty, so
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Fewer than 1 in 10 small businesses set up because they spot market gap
by Timothy Adler • • 0 Comments
Originally written by Timothy Adler on Small Business
Fewer than one in 10 small businesses set up shop because they actually see a gap in the market.
And only 3pc of SMEs go into business to “create the next big thing”, according to new research from business lender Iwoca.
The findings of the Iwoca survey are bound to dismay venture capitalists, who look for start-ups who have identified a gap in the market and present themselves as the solution.
Working for oneself is the number one reason SMEs give for having started a business (69pc), with “so that I can love what I do” being the second most powerful motivator (31pc). Spending more time with family is in third place (23pc). (Given the sheer sweat and always-on nature of running a small business, the idea that one gets to spend more time with loved ones will surely raise eyebrows.)
Worryingly, 6pc of respondents say they only launched their SME because “they weren’t sure what else they could do” with 4pc of respondents saying they started a business because they “got fired”. One business owner’s gnomic reply was, “It’s better to be the head of a chicken than the tail of an ox.”
Business obstacles
Lack of finance
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How to choose a great name for your new business
by Keith Tully • • 0 Comments
Originally written by Keith Tully on Small Business
As a contractor, freelancer or small business, you may consider operating through a limited company.
In order to establish your limited company, it must first be registered with Companies House, the UK registrar of companies which is accessible to the public. As part of the process, you will be required to name your limited company in accordance with legal guidelines set out by HMRC.
When naming your limited company, you should consider the connection this establishes with your sector, trade, and service offering.
The long-term viability of the name should also be considered, as if you expand or begin trading overseas, the name should remain appropriate and relevant to your company and customers.
By futureproofing your company name, it guarantees cost efficiency as you will be able to commit to marketing collateral and a dedicated domain, saving you time and money in the future.
Similar or ‘same as’ names
You are unable to use a name which is already in use, so before committing to your chosen company name, check that it is available.
Names that are similar or “same as” are those which appear only slightly different due to adding a punctuation mark or a special character.
Names that
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Q&A: Emma Jones MBE, founder of Enterprise Nation
by Anna Jordan • • 0 Comments
Emma Jones MBE has a naturally entrepreneurial spirit. She studied Law and Japanese and went on to work at law firm, Arthur Andersen, where she set up the Inward Investment practice that attracted overseas companies to locate in the UK. She left and built techlocate.com, selling it 15 months later. Her experiences of starting, growing
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The five best reasons to launch an offshore business
by Partner Content • • 0 Comments
There’s been a lot of media attention on offshore companies and safe haven entities in recent years. However, the public conversation misses the value and underlying need for these offshore entities. Businesses, regardless of their size, are now more global than ever. Every industry is directly competing with rivals from different parts of the globe,
The post The five best reasons to launch an offshore business appeared first on Small Business.
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Should you run your buy-to-let properties through a limited company?
by Owen Gough • • 0 Comments
As a landlord, mortgage interest is probably the single biggest expense that can eat into a large chunk of your rental income. So in summer 2015 when the chancellor announced changes to mortgage interest relief for buy-to-let landlords, there has been a surge in the transfer of properties into a limited company. How attractive is
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Best countries for opening an LLC
by Owen Gough • • 0 Comments
The limited liability company (LLC) is a business structure preferred by investors around the world. It allows its owners to have limited liability for their investments in the company: only up to the amount invested. For many entrepreneurs interested in opening small or medium-sized businesses, the tax advantages or different incentives offered by jurisdictions are
The post Best countries for opening an LLC appeared first on Small Business.
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Top tips on what to consider when choosing a business location
by Owen Gough • • 0 Comments
Research from business electricity comparison site Love Energy Savings reveals that North Scotland has the highest business energy rates in the UK. Energy rates vary from 11.88p/KwH in North Scotland to 10.34p/KwH in the South East. But it’s not all doom and gloom for businesses thinking of settling up north – the region also offers
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Thinking of starting a business? Why not consider one of these?
by Ben Lobel • • 0 Comments
There comes a time in many people’s lives where they want more from a career- more money, more freedom, and more satisfaction. Some go back to school to study for a new vocation, others change jobs and go for something in a different sector, but some people choose to start their own business from scratch.
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