Small Business Matters

Winning business tips

If you’re a tweeter you may have noticed that just before Christmas Intuit was involved in the #12daysofSUB competition alongside StartUp Britain. Intuit donated a copy of QuickBooks SimpleStart to give away to the person who gave the best business tip each day over 12 days.

There were some brilliant tips so we thought it was worth sharing the winning ones here:

New year, new start – tips for a successful 2012

Firstly we’d like to take this opportunity to wish all our readers a very happy new year from the SmallBizMatters team. Here’s to a great 2012.

Today’s post is by Clive Birnie, managing director of Severn Delta, the company behind the Sarah Smith cleaning products.

So here we go, heading into 2012.  This time of year seems to lead inevitably to a mental audit.  I can’t do much about your willpower for your New Year’s diet but here are my suggestions for good New Year’s resolutions and ways to improve your business this year.

Happy Christmas!

We'd just like to take this opportunity to thank all the SmallBizMatters readers for tuning in this year and to wish you a merry Christmas and a prosperous 2012 in business.

We've got quite a few exciting things planned for the site for next year so we're looking forward to that. As always, if you have any content requests or feedback, we're always open to ideas. 

We'll be back in early January - see you then!

The SmallBizMatters team.

[Image: Kittisak]

 

Making the most of the Christmas holidays

'Tis the season to be jolly but if you run a small business, you might find the drop in trade and the disruption that occurs over Christmas a little unsettling. Many small business owners simply can't bear to turn off from their business completely for over a week.

However, the slowdown can provide a chance to recharge your batteries as well as assess some areas of your business that may have gone unnoticed recently. 

If you’re one of those business owners who can’t close the door on business altogether, here are a few ideas that will help you to make the most of the holiday whilst still getting some rest and relaxation.

Business trend predictions for 2012

2011 has been quite a year, both in business and beyond – from the summer riots, to banking fraud, and companies and countries alike going to the wall.

In cheery news, it has been mooted that ‘2012 will be the end of the world’. However, David Bowler and Julia Payne,  co-founders of business consultancy Incisive Edge,  believe it will only be the end of the world for those entrenched businesses which choose to hide.

They comment: “Those businesses which simply work to protect the balance sheet, and fail to invest in growth in a brave new world, will not succeed.”

Here, Payne and Bowler offer their predictions for business trends in 2012:

31 January tax return deadline: Don’t forget to register!

HMRC is reminding anyone sending their tax return online for the first time to get registered now, in good time before the 31 January filing deadline.

The 31 October deadline for paper tax returns has passed, so any outstanding 2010/11 Self Assessment returns must now be sent online.

What you need to do

If you’re completing a return online for the first time, you’ll first need to register for online filing at www.hmrc.gov.uk/online. You’ll immediately get a User ID, and an Activation Code will be posted to you. Once you’ve activated your account, you can complete your tax return online.

It’s important you register as early as possible, because it can take up to 10 days to receive your Activation Code. HMRC is therefore urging people to register in December, to avoid a last-minute rush in January.

Those who have filed online before should check that they still have their User ID and password – it can also take up to 10 days to get a replacement, so don’t leave it to the last minute if you need one.

Fines

HMRC is also reminding people not to file on paper, or you will receive a £100 penalty – even if you have no tax to pay or pay your tax on time (ouch!). Fines will also be levied for the late submission of your online tax return. This follows the introduction of a new penalty regime this year.

Don’t forget: Your online tax return and payment must reach HMRC by 31 January 2012.

[Image: Grant Cochrane]

Making the most of craft events

At this time of year many businesses selling handmade goods or gift-related items are busy attending sales events. Emma Maudsley, the creative mind and hands behind SockMonkeyEmporium, gives her advice on preparing for and making the most of such events.

One of the most exciting parts of being a crafter is being able to get out and about at craft fairs. These could be as simple as a school fete or as complex as a major event at a historic house or football stadium. You can find information about events in your area through various internet sites - stick it in Google and see what comes up.
 
There is normally a fee involved in taking part; make sure you know what is being provided for you - the table is usually provided but not all events include chairs, especially if you need more than one. If you need access to electricity you should certainly ask the event organisers if you can be placed in a suitable space.

Also, be sure that the fee involved is a figure you feel you can afford. I have been offered tables at events ranging in price from £10 to £100 and I price it by monkeys - £10 is one monkey. If I don't feel I would sell more than 10 monkeys at an event then I certainly wouldn't be paying a £100 fee.

Preparation is everything

Prior to the event make sure you are organised. If you have Facebook and Twitter tell people where you are going to be.

How to avoid a Christmas cashflow crisis

Sorry to mention the C-word so early but it is December now so we figured it was OK…

While many of us wonder if the run up to Christmas could get any longer, proper preparation can make the period truly relaxing.

This is particularly true for your business's cashflow. Many companies, especially those experiencing their first Christmas period, can be caught completely unaware by the impact that Christmas can have on their cashflow. However, there's still time to ensure this doesn't happen, as long as you start planning now and follow a few simple rules.

Who is taking responsibility?