Small Business Matters | A Blog for UK Small Businesses

Small Business Britain: On the airwaves!

As part our Small Business Britain campaign, our managing director Pernille Bruun-Jensen, took to the airwaves to discuss the importance of UK small businesses in the run up to the election.

She chatted with more than 20 radio stations around the UK, sharing the findings of our Small Business Britain survey, as well as some of the key tips that came from the research.

Couldn’t get to the radio in time? Click on the podcast below to hear Pernille’s interview with BBC Radio Northampton (104.2-103.6FM).

BBC Northampton

 

Some of the advice that Pernille shared from small business owners around the UK included:

Be heard! Use channels such as Small Business Britain to make sure your voice is heard, and to call on the government, elected bodies, banks and the wider business community to support your success and prosperity.

Make it personal – According to our research, 84% of small businesses believe that their ability to provide a more personal touch with customers is a key advantage. Start-ups and small companies can show a fresher, newer approach and take advantage of their flexibility.

Keep on top of accounts – Awareness of how much is being spent and for what is important. Our research showed that 85% of small businesses felt the best way to manage cash flow was to always keep accounts up-to-date.

Don’t be late – Most small businesses have experienced difficulty with timely customer payments. Put simply, if you don’t get paid, you won’t be in business for long. Our research showed that the number one way to avoid late payments is to set up clear payment terms at an early stage (48%).

If you want to know more about Small Business Britain or have some comments on the Charter, please get involved and post your thoughts on our discussion boards.

Tune in to hear more about Small Business Britain

In honour of our Small Business Britain campaign, tomorrow morning Pernille Bruun-Jensen, Managing Director Global Small Business at Intuit UK, will be featured on local radio stations across the UK to talk about the challenges and opportunities that small businesses face in the run-up to the 2010 General Election. 

Here are the details on when and where you can tune in:

• Colourful Radio, UK (at 8:50)
• Phoenix Radio, Leeds (at 9:25)
• Asian Star, Slough (at 9:35)
• Hayes FM, Hillingdon Ealing and Hounslow (at 10:45)

As well as throughout the morning on:

• Sky News Radio, UK
• Sun FM 103.4, Sunderland
• Waves Radio, Peterhead
• Tay FM, Dundee City
• Wolf 107.7, Wolverhampton
• High Peak Radio, Peak District
• Ashbourne Radio 96.7, Derbyshire
• Radio Perth, Perth
• Your Radio FM 103, Dunbarton
• AFAN FM, Hash Piperdy Wales
• Radio Verulam, St Albans
• Nevis Radio, Fort William
• Drystone Radio 106.9, South Craven North Yorkshire
• Bang Radio, North West London
• Preston FM 103.2, Preston, Lancashire
• Forest FM 92.3, Dorset
• Broradio, Barry
• BRFM, Blaenaugwent

Not around tomorrow morning? Don’t worry, we’ll be uploading a podcast and some top tips later in the week!

 

More Top Tips from the We Mean Business conference

Yesterday’s We Mean Business conference was a great event where we met some really inspiring women – so we couldn’t resist passing on a few more of their useful tips and tricks for small businesses.

Deborah Szebeko, Founder of thinkpublic: the journey of a social entrepreneur

Eleven great tips from Deborah who started her business based on being inspired by wanting to help improve the patient experience in the NHS:

1 - Be adaptable… things will change, be open to this and stay flexible

2 - Learn the lingo… listen to others and record what they say, use this to develop your language

3 - Develop your story and brand… each opportunity has a story and their story is their brand, embrace this and include it in all your branding, right down to your logo

4 - Build relationships… don’t underestimate your clients as your advocates

5 - Give people respect and responsibility… by giving people opportunity they will be empowered to learn and innovate, and this will help the business to be great

Don’t forget the January tax deadline

The tax return deadline of 31st January 2010 is just around the corner. Failure to meet this could result in hefty penalties so make sure it’s at the top of your priority list. Here are a few tips to follow so you don’t get caught out by the tax man.

Submitting your tax return online - the deadline for paper returns was 31st October 2009, you must now send your tax return online which needs to reach HM Revenue & Customs (HMRC) by midnight on 31st January. By now you should have registered to use the HRMC’s online services and received your activation code.  Given that this is done, you’ve now not got a week to file or otherwise you could face a £100 penalty, on top of any tax due.

It’s also worth noting that if you’re new to the online world there’s a very small number of cases where HMRC will still allow you to send your tax return on paper - read the section 'Exceptions - where you can't file online' rules surrounding this.

Pay any outstanding tax - as well as submitting online, the full and final tax payment will need to accompany the tax return. If you have been within self-assessment for a number of years, you will now be required to pay the final amount on 31st January 2010, together with the payment on account for the subsequent tax year 2009-10.

Top 10 Small Business Goals for 2010

The last 12 months have been incredibly tough for all of us, but we’re optimistic that 2010 will be a great year for UK small businesses. To succeed, businesses will need a sound understanding of their priorities and strategies. Based on our discussions with small business owners, we have come up with the Top 10 Goals for 2010 that every small business owner needs to think about.

Here is a taste of some of the tips on offer:

1. I will sort out my finances
Sometimes even the greatest business ideas can fail due to a simple lack of readily available cash. This is something that many small business owners find challenging to keep track of, but it’s vital to be aware of how much is being spent and for what, as is tracking VAT and making accurate returns. It is important to keep on top of bookkeeping right from the start, otherwise there is a risk of forgetting crucial costs or, even worse, failing to invoice a customer.

2. I will learn something new
Going solo can be nerve-wracking and lonely at times, however there is an absolute wealth of advice and top tips available online, as well as many forums and communities where other small businesses share their experiences. Our blog has advice and tips, including the ‘Secret Guide for Small Business’, which was created by small businesses for small businesses. Smarta, Enterprise Nation and BusinessLink are just a few other examples of sites where you can get free information and support.

The secret guide for small business success – from the experts themselves

If you’re an avid Twitter fan you may have seen that since the 1st December 2009, we’ve been asking our beloved Twitter followers and friends to tell us their top tips and tricks to help small businesses tackle some of the challenges they face today, and inspire budding entrepreneurs to grow and improve their business. Each day, over the 12 business days of Christmas (#12DOC) we asked topical questions that were significant to small businesses in the UK.

The response has been so good we wanted to share them with you all! So we compiled your fantastic insights into ‘The Secret Small Business Guide’, created by small businesses for small businesses. 
You can download it for free here .We asked about everything from coming up with a great idea and designing a top website, down to good time management and financial skills. The guide features tips from a range of entrepreneurs and small business owners and experts.

Some of the key tips include:

• Planning – one of the most important requirements for any entrepreneur is a business plan; not one that lives in your head or one that is consigned to an office cupboard, but a live business plan. (Alan Gleeson, Palo Alto Software Ltd)

• Be social – Social Media is a big thing right now and will only get bigger. Make sure you set up a Facebook page for your business and register with LinkedIn and Twitter. All this combined will generate results eventually, but it takes time. (Mark Adams, ACS Computer Services Ltd)

It’s snow joke for small businesses

You might have thought the UK had seen its fair share of snow this winter, but today we woke up to  a whole lot more! Most of Britain was covered in a layer of snow and experiencing sub-zero temperatures. The hazardous weather has forced airports and railway lines to shut, making it extremely hard for commuters to make it into work.

While all this snow is great news for snowmen, it is worrying for business owners who rely on staff to keep the business running smoothly. In fact, the Forum of Private Business (FPB) has warned small business owners that staff absenteeism because of the current conditions could cost small businesses in the UK a huge £230m.

VAT rate change: today is the day!

It’s finally here: at midnight tonight small businesses across the UK must ensure all their prices are in line with the new VAT rate of 17.5%. Hopefully businesses have been able to plan for the change well in advance and as a result won’t find the adjustment too taxing.

However, if you’re still unsure of all the rules surrounding the change then you still have time to visit the HMRC guidance website which provides all the information you need. You can also refer back to our practical guide to handle the change, which gives some easy to follow top tips.

Don’t forget, if you’re open for business tonight then the Treasury has granted a six hours grace period. This applies to pubs, restaurants as well as retail and telecommunication businesses that will be operating beyond midnight.

Good luck and let us know how you get on – we’re keen to hear about your experiences, tell us what went well and what didn’t!

And most importantly, have a very happy New Year!

Have a very merry business this Christmas

It’s Christmas time, hip hip horay! The last minute shopping has been done (hopefully), the cash has been counted and the Christmas holidays are about to begin.

While people are at home joining in the festivities, enjoying Christmas dinner, and having a break, let’s not forget that the show must go on for small businesses.

It’s important to make sure that all is wrapped and ready for the New Year. January is expected to bring in a flurry of business as bargain hunters flock in for the January sales. To make the most of this, ensure you’re stocked up and your stores are ready to go.

As we know the VAT is to return to 17.5% on the first of January - this doesn’t leave  much time to prepare when we return in 2010, so make sure everything is in order for the change. That includes the changing of price tags, displaying notices to inform customers and making sure that payments are settled up.   

What goodies do small businesses have in store this Christmas?

In the New Year, I will be making regular contributions to smallbizmatters, looking at small and local businesses from around the UK. While I planned to start posting in 2010, the Christmas shopping season inspired me to get an early start. There are so many presents to buy, meals to share, corks to pop… I think it would be great if we all made a point to spread the word about good local businesses and get into the Christmas spirit.

Putting my money where my mouth is, I’ve decided to source the necessities for my Christmas meals at two of my favorite food shops in central London:

La Fromagerie and The Ginger Pig

Both offer a phenomenal selection of gourmet foods and a high-level of service. Add to the mix, knowledgeable staff and heaps of charm and you’ve got the recipe for a fantastic occasion. A jaw-dropping selection of fine cheese and impressively raised and masterfully presented meat don’t hurt either. Even a cooking-newbie like me can’t go wrong! Well, at least not the shopping bit anyway.

Where are you shopping this Christmas? With Santa on his way, I need your recommendations before the snow settles!

Michael Porcaro, Small Business Specialist