Shane Donnelly's Posts

Should You Franchise Your Business?

Should You Franchise Your Business?

Karen Holden May 22, 2017 Planning

Simply put, franchising is a business model which looks to expand a business idea and its goodwill by licensing the right to use its trademarks (IP) and brand to an independent entity whilst also providing an operating system and support. There are many benefits to franchising but what is involved and is it the right option for you? Why would you franchise your business? It can be an effective way to grow your business brand when you do not have the capital or personnel to expand yourself. Accordingly, a franchisor can indirectly invest in its business and spread the financial risk, but share the gains and knowledge of a successful commercial idea. As such franchising can be a very cost-effective route for scaling-up a business, provided that you can demonstrate that your business is succ... »

Accessing and Maximising Entrepreneurs Relief On A Company Sale

Mark Shewring May 22, 2017 Planning

It is often on a disposal of a business where tax considerations can have a considerable impact and with good planning, business owners can achieve a tax efficient exit. Entrepreneurs relief (“ER”) is often the key consideration for shareholders in achieving such a tax efficient exit and this article summarises some of the common tax issues and opportunities that business owners should consider in preparing for an exit. Entrepreneurs relief – what is it? ER provides for a 10% rate of capital gains tax on qualifying disposals up to a lifetime limit of £10m. This is clearly an attractive rate of tax for UK resident individuals and ensuring that this relief can be utilised as well as maximising use of the lifetime limit are key considerations to business owners on an exit. Accessing entrepren... »

Three Weeks Before The General Election, Just 19% of Small Business Owners Support A Hard Brexit

Three Weeks Before The General Election, Just 19% of Small Business Owners Support A Hard Brexit

Shane Donnelly May 22, 2017 News

Less than three weeks before the general election, just 19% of small business owners support a ‘hard Brexit’ – according to a report by Chartered Management Institute (CMI). The survey of over 800 managers has revealed that 43% believe access to the single market and free movement of people across the EU should remain once the UK officially leaves – something the current government has ruled out should they be re-elected. When asked for their top business wishes for the next government, securing trade deals with non-EU countries is a priority for 66% of enterprise owners as businesses begin to ‘think global’. Guaranteeing the rights of existing EU residents (58%), investing in capital infrastructure (53%), maintaining investment in the Apprenticeship Levy (30%) and promoting UK... »

35% of Businesses Owners Spend Most Of Their Day Doing Admin – Though Just 4% Believe It’s a Priority

35% of Businesses Owners Spend Most Of Their Day Doing Admin – Though Just 4% Believe It’s a Priority

Shane Donnelly May 18, 2017 News

35% of UK business owners spend the majority of their day doing admin – though just 4% believe this is a priority task, according to a report by Immervox. Their Management Pressures and Productivity report, which surveyed 144 businesses, has revealed that UK firms are struggling to achieve increased profit because they have to concentrate their efforts on more menial tasks – such as filling in spreadsheets. While small firm owners believe that innovating, planning, and customer service are the three most crucial areas of their business – few can devote any time to them Other barriers to growth include disorganisation (25%), followed poor internal communication (15%), slow internet (12.99%) and more ad hoc tasks (12.99%). For larger enterprises, antiquated IT systems was signalled by over h... »

UK Employers In The Dark About What Their Employees Really Worry About

UK Employers In The Dark About What Their Employees Really Worry About

Shane Donnelly May 17, 2017 News

29% of UK workers are unhappy in their job, but their employers don’t know why – according to a survey by Neyber. Their 2017 DNA of Financial Wellbeing, which surveyed over 10,000 employees and 500 employers, has revealed a disconnect between what UK workers worry about, and what their bosses believe are their main concerns. Of the respondents, 33% of workers said that money problems are their greatest concern, followed by their health (29%) and achieving a good work / life balance (28%). How To Spot The Signs Of Poor Employee Mental Health At Work In stark contest, when bosses were quizzed on what they feel matters to their subordinates 43% believed it was work life balance, 40% believed it was workload, 38% said career development – while just 33% pointed out financial security. Small bu... »

FSB Say Businesses Must Invest In Cyber Security

FSB Say Businesses Must Invest In Cyber Security

Shane Donnelly May 16, 2017 News

UK small businesses have been strongly urged to invest in cyber security, as many of their larger counterparts are still suffering in the wake of last week’s global ransomware attack. The Federation of Small Businesses (fsb), which was briefed by the National Cyber Security Centre on specific small firm concerns, has said businesses should also take out necessary insurance and avail of its expert cyber advice line for more information. Seven million cyber crimes are committed against UK small firms every year, with victims paying an average of £3,000 and 2.2 working days to repair the damage. With these stats equating to 19,000 attacks everyday, the threat is a very real one. Top 10 Essential IT Security Questions You Need To Ask Yourself Dave Stallon, commercial director at fsb, commented... »

64% Of Businesses Didn’t Make A Foreign Currency Transaction In Q1 2017

64% Of Businesses Didn’t Make A Foreign Currency Transaction In Q1 2017

Shane Donnelly May 15, 2017 News

64% of UK small businesses failed to make a single foreign currency transaction in Q1 2017, as international trading begins to slow down -according to a report by World’s First. The Global Trade Barometer has revealed that UK businesses transferred 17% less on average per currency transaction in Q1 2017 compared to Q4 2016 – a fall from £48,000 to just £39,000. % of small businesses not making a foreign currency transfer Q1 2016 27% Q2 2016 31% Q3 2016 33% Q4 2016 28% Q1 2017 64%     Current political and economic uncertainty appears to be compounding matters, with 30% of respondents saying they’ve felt the negative impact of exchange rate movements in the last quarter. Moreover, 22% admit their worried about rises in inflation negatively impacting their business, with the same p... »

Calls To “Radically Reform” Support For Businesses Following Brexit

Calls To “Radically Reform” Support For Businesses Following Brexit

Shane Donnelly May 11, 2017 News

Calls have been made to “radically reform” the small business support network in the UK, as firms begin to get ready for life outside the European Union. The Reformed Business Funding: What small firms want from Brexit, from the Federation of Small Businesses, claims that when the UK formally leaves the EU, a dedicated £3.6bn fund to develop the competitiveness of UK small businesses will be lost. Expected to end in 2021, there is currently no regional or national equivalent to take its place, nor any discussions of a replacement in the pipeline. 78% of small enterprises have sought business support services over the last 12 months, with those in Yorkshire (25%), the North East (22%) and North West (18%) the most likely to submit applications for EU-funded schemes. As a result of its findi... »

UK Business Output Falls To Four-Year Low, Despite Optimism Surrounding A Post-Brexit Global Britain

UK Business Output Falls To Four-Year Low, Despite Optimism Surrounding A Post-Brexit Global Britain

Shane Donnelly May 8, 2017 News

UK business output has fallen to a four-year low, despite optimism surrounding a post-Brexit Britain - according to a report by BDO LLP. Their Output Index, which indicates how firms expect their orders and sales to develop over the next three months, has revealed that growth expectations have fallen from 95.9 in March, to just 95.6 in April. This figure is now significantly below the long-term growth trend of 100, and just fractionally above the point of contraction – which stands at 95.0. It’s suggested that the slowing services sector, traditionally one of the strongest industries in the UK, is primarily responsible – with growth expectations falling from 95.7 in March to 95.3 last month. This is in stark contrast to the 100.4 reported in April 2016. Despite the negative figures, ... »

Northern Businesses Struggling To Fill Skills Gap

Northern Businesses Struggling To Fill Skills Gap

Shane Donnelly May 5, 2017 News

Northern businesses are struggling to fill the skill gaps within their company and are turning to expensive and ineffective consultants to help them out, according to a report by Zeqr. The survey of 250 enterprise owners has revealed that businesses ‘up North’ spend three times as much on consultants compared to their Southern counterparts – paying external experts £43,000 every year. Northern firms also hire 43% more external consultants than those in the South, with data suggesting that the limited number of consultants based in the North results in less competitive prices and higher fees. Not just a financial burden, Northern enterprises are also wasting a considerable amount of time in ‘engaging experts’ with the average business spending 48 days a year briefing consultants - com... »

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