Monthly Archives: December 2020

Hot Business News Today

5 tips to make your small business TikTok marketing a success

by  •  • 0 Comments

Originally written by jaronsoh on Small Business
TikTok has taken the world by storm since its worldwide release in August 2018. The latest official data shows 500m active monthly users worldwide, while more recent estimates put that at nearly a billion. In that time, many businesses and brands have used the app’s popularity as an avene for mass maketing – though many don’t approach it in the right way.
Here, Traktion share five tips to be successful with TikTok marketing.
1. It’s all about tone
TikTok is a channel for light-hearted, fun and shareable entertainment. It’s not LinkedIn. Nor is it even Facebook or Instagram. Content that is too dry, too heavy, or too polished and corporate is just not going to land well – particularly with those young audiences. One of the biggest mistakes a brand can make in
marketing on TikTok is getting their tone of voice wrong.
2. Let users be your content creators
One of the ways to avoid the potentially fatal pitfall of try-hard content is to encourage other users to create content for you. Harnessing the power of this user-generated content (UGC) is a must for marketing on a platform on which content is built around challenges, trends, and most of

Read more...

Hot Business News Today

How to value the goodwill

by  •  • 0 Comments

Originally written by jamesjohnson on Small Business
When looking to buy or sell a business its value will be more than just the assets it holds. One of more intangible assets to value is goodwill – the magic sauce that makes one business attract a higher valuation than another that may appear to be similar.
Goodwill is the value that someone is prepared to pay for a business above and beyond the value of its assets. That will include the strength of a business’s brand, customer databases and those aspects of a business that add value to a buyer.
For most businesses, the value of goodwill is tied into its current and future earnings – what do the future profits of the business look like and can that profitability be increased – sometimes called “super profits”.
How to value the goodwill
In calculating goodwill, your accountant would start with the profit and loss accounts of the business, typically for the last three years. Some adjustments might be necessary to arrive at the profits for the goodwill calculation, sometimes called the average maintainable earnings.
The most usual adjustment is for payments to the owner or manager over and above a reasonable salary for the work they do.
Once

Read more...

Hot Business News Today

A guide to getting a business loan during Covid-19 

by  •  • 0 Comments

Originally written by fundingoptions on Small Business
The government’s CBILS and BBLS initiatives are helping SMEs across the UK to access a Covid-19 business loan. On November 2, the Government announced that the Coronavirus Business Interruption Loan Scheme (CBILS) will be extended until January 31 2021.
How do I apply for a government-backed loan?
Applications for the government backed loans schemes – including BBLS and CBILS — will be open until January 31 2021. Companies will have the option to repay their loans over 10 years via a “pay as you grow” initiative. If a business finds itself in “real trouble”, six-month interest-only payments and payment holidays are available.
Currently, there are over 100 accredited lenders providing finance to businesses through the CBILS scheme. Funding Options is partnered with 40 plus of them and you can use our platform to apply for a CBILS loan. The benefit of applying through an accredited partner like Funding Options is that a finance Specialist will help guide you through the process.
What do I need to apply?
Firstly, you must be a UK-based business to apply for government-backed support. For a BBLS loan the lender will ask you to submit a short online application form and self-declare that you’re

Read more...