Tag Archive for Business Management

Hot Business News Today

Think small and win big – your SME strategy in the UK tender market

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By Jason Cooney on Small Business UK – Advice and Ideas for UK Small Businesses and SMEs

For many small and medium-sized enterprises (SMEs) across the UK, winning a public or private sector tender feels intimidating and unachievable. There’s a constant feeling of not being able to compete with larger more established players in the market, some of which are in-house bid writers and a process for bidding for nearly any and every opportunity.

Fortunately, the very attributes that define an SME – agility, local presence, and direct leadership – are precisely what can give you an edge in government tenders, and in particular, local government contracts. The government – and sometimes private sector – also has requirements and processes built into their procurement documentation that ensures small businesses are not disadvantaged in the tender or bidding process including for frameworks.

Here are some strategies small businesses can adopt to win.

Implementing a robust strategic ‘Bid/No Bid’ process

Before a single word is written for a tender submission, the most impactful strategic move an SME can make is the ‘bid/no bid’ decision. The temptation to chase every potential opportunity, fuelled by a fear of missing out, is a common pitfall for many small business owners

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Are you a born entrepreneur? Answer these questions to find out

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By Anna Jordan on Small Business UK – Advice and Ideas for UK Small Businesses and SMEs

Some people are born to launch a business, and a natural entrepreneur could be ‘hidden in plain sight’, according to Mike Soutar, The Apprentice’s hard-nosed interviewer.

He’s best known for tearing into the candidates’ business plans, but this time he was speaking at the SME XPO in London’s Excel Centre. In his presentation, Soutar tasked himself with sussing out which of the five participants on stage have a knack for business.  

Soutar’s job was to put the participants into one of three categories:

Natural-born entrepreneur

Entrepreneur in development

Corporate professional

True to his interviewing savvy, he investigated the ‘candidates’ using the following rounds of questions. Have a go at the questions yourself and see what you think.

Round 1: AppearanceRound 2: Family, upbringing and early driveRound 3: Risk, spontaneity and problem solvingRound 4: Personal philosophy, philosophy around success, fulfilment and motivationRound 5: Post-successThe results

Round 1: Appearance

Soutar didn’t ask any questions in the first round; instead, he assessed the candidates’ appearance.

“You can you tell an entrepreneur from the way they stand; from the way they exude energy. Maybe even for the shoes that they wear,” said The Apprentice star.   

He noticed

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Small business savings account comparison

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By Nathaniel Dalby on Small Business UK – Advice and Ideas for UK Small Businesses and SMEs

If you’re just starting up your small business, the idea of actually saving money might seem so pie-in-the-sky that it’s not even worth considering. However, saving the spare cash your business generates (no matter how small) can have huge benefits in the long term.

That’s why we’ve created this small business savings account comparison, which shows currently available in the UK. We will also cover why you need a business savings account and how you choose the best one for your business.

Continue reading or use the links below to jump to a specific section:

What are business savings accounts?

Why do I need a business savings account?

Can I use a personal savings account for my business?

The best business savings accounts

Which account is best for my business?

Paying tax on a business savings account

What are business savings accounts?

A business savings account is similar to a personal savings account, but used specifically for business. Using these accounts, a business can save any cash spare reserves and accrue interest on them, with different rate types available.

How business savings account work varies on the account and bank, with some requiring an initial

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Why every entrepreneur needs their own mentor

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By Mark Wright on Small Business – Advice and Ideas for UK Small Businesses and SMEs

The internet is awash with help and advice for business owners. With all this information at your fingertips, is it worth having a dedicated mentor? The short answer is yes, without a doubt.

For me, the ultimate Apprentice prize was the opportunity to receive the 1-2-1 guidance and mentorship from Lord Sugar and his wealth of experience that came with it. Working in the same office as him for the first three years of my company taught me so many invaluable lessons that couldn’t simply be gleaned from reading a book.

In the business world, the power of a good mentor is a known fact, and the statistics back this up. CNBC reported that 91 per cent of workers with a mentor are satisfied in their jobs, while SCORE found that 30 per cent of entrepreneurs reported increased growth in their business after just one interaction with a mentor, rising to 43 per cent with five or more interactions.

With the likes of Bill Gates receiving mentorship from Warren Buffet, or Mark Zuckerberg from Steve Jobs, it’s clear to see there’s direct link between solid mentoring and high

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Hot Business News Today

Why every entrepreneur needs their own mentor

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By Mark Wright on Small Business – Advice and Ideas for UK Small Businesses and SMEs

The internet is awash with help and advice for business owners. With all this information at your fingertips, is it worth having a dedicated mentor? The short answer is yes, without a doubt.

For me, the ultimate Apprentice prize was the opportunity to receive the 1-2-1 guidance and mentorship from Lord Sugar and his wealth of experience that came with it. Working in the same office as him for the first three years of my company taught me so many invaluable lessons that couldn’t simply be gleaned from reading a book.

In the business world, the power of a good mentor is a known fact, and the statistics back this up. CNBC reported that 91 per cent of workers with a mentor are satisfied in their jobs, while SCORE found that 30 per cent of entrepreneurs reported increased growth in their business after just one interaction with a mentor, rising to 43 per cent with five or more interactions.

With the likes of Bill Gates receiving mentorship from Warren Buffet, or Mark Zuckerberg from Steve Jobs, it’s clear to see there’s direct link between solid mentoring and high

Read more...

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Claiming back childcare costs

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By Jo White on Small Business – Advice and Ideas for UK Small Businesses and SMEs
Childcare costs can’t be offset against business expenses but there are a couple of options available for help.
For both the self-employed and those in employment, individuals can receive 20 per cent of the costs towards childcare from the government. To qualify you need to open an account – go to www.childcarechoices.gov.uk to find out more.
The scheme is open to those earning under £100,000 and at least £142 per week who are not receiving Tax Credits, Universal Credit or childcare vouchers. Your children must be aged 0-11 or 0-16 if they are disabled. You, family members or employers can contribute to the account and for every £8 paid in, the government tops it up by £2. This means that, over the course of a year, you could receive up to £2,000 per child. Payments over the £10,000 threshold do not receive the additional government top up.
All families in England, regardless of income, receive 15 hours of free childcare or early years education for 38 weeks each year for children aged two. Some childcare providers will allow these hours to be used over 52 weeks so speak

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Transition to a net zero future with green finance

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By fundingoptions on Small Business – Advice and Ideas for UK Small Businesses and SMEs

We all need to play our part to build a more sustainable future. SMEs, who are the lifeblood of the UK economy, will be a key player ensuring this occurs.

It’s in every business’ own interests to ‘go green’. Research indicates that £3bn savings can be realised by the SME community if it were to implement simple energy efficient measures. 

Why is it important for businesses to go green?

In June 2019, the UK was the first major economy to pledge to end its contribution to global warming by 2050. Earlier this year, the UK also committed to the ambitious goal of reducing its carbon emissions by 78 per cent by 2035 compared to 1990 levels. 

If the UK is going to achieve these pledges, all businesses will need to pull together now to make sufficient headway.

Collective responsibility

SMEs make up 97 per cent of the UK economy and contribute 25 per cent to its carbon emissions. Therefore, the UK won’t reach its net zero goals unless the SME community starts taking collective action today. 

Future growth

As the world transitions to a low carbon future, customers will expect the businesses they interact

Read more...

Hot Business News Today

Transition to a net zero future with green finance

by  •  • 0 Comments

By fundingoptions on Small Business – Advice and Ideas for UK Small Businesses and SMEs

We all need to play our part to build a more sustainable future. SMEs, who are the lifeblood of the UK economy, will be a key player ensuring this occurs.

It’s in every business’ own interests to ‘go green’. Research indicates that £3bn savings can be realised by the SME community if it were to implement simple energy efficient measures. 

Why is it important for businesses to go green?

In June 2019, the UK was the first major economy to pledge to end its contribution to global warming by 2050. Earlier this year, the UK also committed to the ambitious goal of reducing its carbon emissions by 78 per cent by 2035 compared to 1990 levels. 

If the UK is going to achieve these pledges, all businesses will need to pull together now to make sufficient headway.

Collective responsibility

SMEs make up 97 per cent of the UK economy and contribute 25 per cent to its carbon emissions. Therefore, the UK won’t reach its net zero goals unless the SME community starts taking collective action today. 

Future growth

As the world transitions to a low carbon future, customers will expect the businesses they interact

Read more...