Monthly Archives: May 2019

Hot Business News Today

How to make a small business PR plan

by Owen Gough • May 13, 2019 • 0 Comments

Originally written by Owen Gough on Small Business
Think of your company’s name and reputation as an elite athlete. It has to be in constant training to stay in the media. You can’t just pitch up once a year at the racetrack and expect to win the race. Your competitors who have been out there in all weathers, missing nights out with friends so they could pound the treadmill, will take the glory.
Just like muscle, reputation builds and strengthens over time. You have to do the hours to earn the right to be written about in the press. And that takes planning. This is a simple guide to making a small business PR plan that will get you media attention. But a word of caution. A gym membership does not guarantee the body beautiful. You have to turn up day in day out to achieve your goals.
The goal
Know where you are going. Aim to agree a clear statement of the objectives for your PR plan. Use these questions to help you identify your objectives:

Why are you communicating?
What are you hoping to achieve?
What do you want people to do as a result of your PR?
Do you want people to:
know your name?
know what

Hot Business News Today

How to tackle late payments to your small business

by Antti-Jussi Suominen • May 13, 2019 • 0 Comments

Originally written by Antti-Jussi Suominen on Small Business
Small businesses face an ongoing threat from late payments. Chancellor Phillip Hammond announced in his Spring Statement plans to “tackle the scourge of late payments” by large corporations to their small suppliers. Promising a “brighter future”’ for the UK’s 5.6 million small businesses, he outlined a requirement for big companies to report on how they’re paying their suppliers.
According to the Federation of Small Businesses, around four in five businesses have been paid late, the impact of which is far-reaching.
Bacs, the bank money transfer service, has calculated that Britain’s small businesses spent £6.7 billion in 2018 just to collect money they were already owed. Furthermore, the same research revealed that over a quarter of small business owners who have experienced late payments have been forced to pay their own suppliers late, and 28pc say they’ve had to cut their own salaries in order to keep their business afloat. Indeed, cash flow issues arising from late payments mean that more than two million people in the UK may not have been paid in time.
Late payments result in the closure of more than 50,000 small businesses each year, says the FSB, costing the economy £2.5 billion.