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How I raised the money to start my business
Shamin Hoque, director of CurriesOnline, describes how he raised the finance he needed to start up his business"When we set up CurriesOnline in 2007 we looked at every available financing option. I had...
View ArticleBusiness finance for beginners
From ensuring healthy cash flow and opening a business bank account to simple bookkeeping and attracting investment, in this short Videojug interview start up author Kevin Duncan provides basic tips on...
View ArticlePurchasing
When 'company doctors' are called in to save businesses, the first step is often to renegotiate all the supply contracts. Suddenly hard-nosed suppliers agree to knock 5% - 15% off their prices, giving...
View ArticleNegotiation
Too many people starting up in business see negotiation as a chore and haggling as an embarrassment or a waste of time. However, if you spend 15 minutes knocking £500 off the price of a piece of...
View ArticleHow to negotiate a purchase
Checklist1 Decide how much you want the deal; identify how much it is worth to you and what alternatives you have.2 Find out as much as possible about the supplier's position: how much they need your...
View ArticleHow to purchase effectively
Checklist1 Make purchasing part of business planning and budgeting and consider purchasing issues when developing products and planning production.2 Focus on high-priority purchases - those on which...
View ArticleQ&A: Calculating start-up costs
Martin Dunne of Sayers Butterworth chartered accountants explains how to work out how much starting a new business will costWhy is it important to work out my start-up costs?Firstly, you need to know...
View ArticleQ&A: Sales forecasting
Sales forecasting is key to cash flow control, but it can be difficult for new businesses, because they don't have any past sales figures to go on. Alan Gleeson provides the answers in his beginner's...
View ArticleStart up costs calculator
Visit the bplans.co.uk website to use an online calculator that could help you work out your start up costs.
View ArticleFinance your start up business
Establishing a solid financial base for your business should be one of the first tasks every start-up turns to. Whatever kind of business you’re setting up — from a one-person operation based at home,...
View ArticlePrice your product or service
How much are you going to charge your customers for your product or service? Getting your pricing right could double your profits at a stroke.Many start-up businesses work out a cost figure for each...
View ArticleBudgeting
Are you going to be in control of your new business? Will you know in advance about any looming cashflow problems? Unless you use properly prepared budgets, the answer is probably going to be no....
View ArticleCredit control
Credit control is a vital part of running any business - and especially any new business with limited cash resources.Every year, thousands of start-up businesses go bust. Many are profitable but are...
View ArticleHow to manage customers who owe you money
Checklist1 Set up a system to track outstanding invoices. Start chasing as soon as an invoice becomes due for payment. If no contractual payment period has been agreed, invoices must be paid within 30...
View ArticleHow to control a budget
Checklist1 Make sure the budget you have prepared includes all the key indicators you wish to control.2 Give responsibility for budget items only to individuals with the authority to control the...
View ArticleHow to control credit
Checklist1 Identify what credit is normal for your industry, and decide what credit period - if any - you need to offer customers to be competitive.2 Consider ways of minimising credit risk such as...
View ArticleQ&A: Cash flow management
Chartered Accountant Howard Hackney talks about the steps you need to take to ensure your cash flow remains healthyWhy do I need to have enough cash in my business?The old saying 'turnover is vanity,...
View ArticleQ&A: Dealing with late payment
Martin Dunne of Sayers Butterworth chartered accountants offers advice on how to deal with late payers and bad debtsJust how common a problem is late payment?It's always been there, but in the current...
View ArticleFinancing your business
A solid financial base is essential when you are starting up a new business. The right financing package will carry you through any temporary difficulties yet still allow you to make the most of growth...
View ArticleGrants
Even experts can find it difficult to keep track of the hundreds of different grant schemes which keep appearing and disappearing. This briefing will give you a good idea of whether your start-up...
View ArticleQ&A: Family investors
Andrew Niblock, corporate and commercial lawyer at Keystone Law, on the importance of signing contracts with family members who invest in your business.Why sign contracts with family investors?It...
View ArticleQ&A: Limiting start-up costs
Geoff Wightwick of accountancy and business service provider Baker Tilly watches the pennies and provides advice on how to start up on a shoestringWhy do I need to keep my start-up costs down?The less...
View ArticleQ&A: Debt recovery
Solicitor Kiranjit Virk of Tollers LLP answers key questions about recovering debts through the courts.What options are offered at County Court for recovering debt?The 'small claims track' is generally...
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10 ways to avoid financial failure
“Too many businesses rely upon their accountant to help them with their finance. This is a counterproductive and expensive process. The business owner needs to know their finances intimately, and by...
View ArticleControlling your costs
While you may not be able to influence how much customers spend with you, the one thing you can do is to control your costsSo lets get back to basics. There are two types of costs – variable and...
View ArticleFinancing your new business
Chartered certified accountant Raphael Coman of Coman & Co explains the key start-up funding optionsFinance is important to any business – especially at launch and during times of growth. Success...
View ArticleTaking salary or dividend from your company
Chartered certified accountant Raphael Coman of Coman & Co highlights some key considerations about taking salary and dividend from a companyPaying yourself from the business you own and run is...
View ArticleAttracting investment
Tim Haggard of My Bookkeeping Online gives his top 12 tips for start-ups looking to attract investmentAttracting investors is an incredibly difficult and time-consuming process. This is especially true...
View ArticleQ&A: Key performance indicators
Emma Warren of mentoring, training and business development services provider Portfolio Directors explains how key performance indicators can help small businesses What are KPIs?KPIs or Key Performance...
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How I secured major investment for my new business
Colin Wilkinson, co-founder and sales director of Three Sixty Entertainment, explains how his business was able to attract major investment to fund its touring production of Peter Pan"Back in 2006, Mat...
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UK Budget, 24 March 2010
Welcome to our live blog coverage of the BudgetFrom 11.30am-2.30pm we’ll be reporting on the major announcements for small businesses as they happen and incorporating your comments. If you’d like to...
View ArticleQ&A: Producing invoices
It might seem simple, but if you've never produced an invoice before, how would you know what to include? Chartered accountant Elaine Clark of cheapaccounting.co.uk answers the key questions about...
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Crowd funding: a realistic alternative to bank lending?
Access to bank credit can prove tricky for most start-ups and small firms. With conditions still changeable in the short term, where else can you turn? Crowd funding is one solution, but is it a viable...
View ArticleManage your cash flow
In this video Sharon Coull, head of finance at Sage’s Small Business Division explains how to manage your cash flow.
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Business banking: what are the alternatives to the high street banks?
According to a YouGov poll, 18% of small businesses want to move banks. Inertia may be holding some of them back, but there are some very compelling alternatives to the high street banks, as Rachel...
View ArticleBusiness finance and support finder
Visit the GOV.UK website to access this interactive tool to identify possible sources of finance including grants, loans and investment, and business support including mentoring and consultancy services.
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Could the recovery be bad for your business?
With many experts and organisations much more optimistic about the UK economy following sure signs of the green shoots of recovery, how do you make sure your small business prospers – rather than...
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What goals should you set for your business?
It's the start of a new year – no better time to set new goals for your business for the year to come. So what objectives should you be setting, and what's the key to achieving them?1 Maintain cash...
View ArticleMake a claim for money you're owed
You can take court action against someone if they owe you money and won't pay you back.Disputes over money can be lengthy and expensive. Going to court to try and get your money back should be a last...
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Everything micro-SMEs need to know about crowd funding
Accessing business finance has become more difficult as banks tighten their lending criteria. Crowd funding is becoming an increasingly popular alternative to bank lending for small businesses looking...
View ArticleQ&A: Asset finance
Steve Richardson of Funding Options answers key questions about asset finance and how it could benefit your businessWhat is 'asset finance'?Finance used to purchase equipment for business use. Any...
View ArticleQ&A: Commercial mortgages
Prav Param of Funding Options provides the answers to key questions about taking out a commercial mortgageWhat is a 'commercial mortgage' and why might I want one?A commercial mortgage is a loan...
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How to cut your costs in 2015
It's never a bad idea to look at cutting your costs. When your business is ticking over nicely, you can keep spending focused on the right areas. And if things are getting tight, limiting expenditure...
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What are you paying your accountant for?
The popular image of an accountant is of someone with an encyclopaedic knowledge of tax rules who spends their days tapping figures into a calculator. But these days, the truth is somewhat...
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