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Business Strategy

Managing Cashflow: What The Latest Reports Tell Us

Managing Cashflow: What The Latest Reports Tell Us

A raft of new reports on small businesses and cashflow last month has underlined the unnecessary time and money being spent on managing company cash flow. While technology has enabled businesses to simplify many aspects of their day-to-day operations, daily cashflow management is still a challenge for UK small businesses. A recent survey found that small firms are collectively losing over £8.72bn every year as a result of the time taken to complete weekly finance related tasks. Another study revealed that more than six out of 10 business owners regularly, or occasionally, draw upon personal finances like a personal credit card to support their business. And with 15% of small firms also saying that they found this to be an issue, what can we do to avoid unnecessary cashflow volatility and b... »

How to Test your Business Ideas with Minimum Risk: 5 Tips

How to Test your Business Ideas with Minimum Risk: 5 Tips

Small businesses need to work a little harder than businesses that have already established themselves, and risks are generally greater towards these entities. Small businesses often lack a failsafe, and they can’t afford to waste funds or have an idea plummet in a big way. This can pose challenges when a small businesses wants to grow, rebrand, or innovate. They need to be able to test their ideas, but they can’t afford to flop. It’s always possible to take a cautious approach that reduces the impact a potential failure may have on the future of your business. 1. Look at your competitors By checking out your competitors, you’ll be getting a good idea regarding how businesses like yours have successfully rolled out ideas or changes in the past. Did they start temporary, or give it their al... »

7 Interview Questions to Assess Cultural Fit

7 Interview Questions to Assess Cultural Fit

One of the most important things to assess is a candidate’s cultural fit. They could be great at what they do, but if they don’t mesh well with your company, they may not stick around for very long. You need to make sure the person you hire is going to form the right kind of professional bonds in your office and feel rewarded by the work that they’re doing. Culture counts for everything. 1. What are you passionate about? Most companies hold certain causes near and dear to their foundations. This includes charities and perspectives on what they’d like to achieve. Companies need passionate people to help them reach their goals, and even if the candidate’s passion isn’t exactly the same, you need to know that the passion is there. Conflicting passions can be problematic down the road, so it’s... »

Changes To Employment Law In April Your Small Business Needs To Know

Changes To Employment Law In April Your Small Business Needs To Know

1. Gender pay gap reporting A new law introduced on 6 April will require private sector employers with 250 or more employees to report on their gender pay gap each year. Employers are required to take a data snapshot of their pay data on the 5 April 2017 and report on specific calculations by the 4 April 2018. The report needs to be published on the company’s website and uploaded to a government website. Similar provisions are being introduced for public sector employers with a snapshot date of the 31 March each year 2. Apprenticeship levy From the 6 April, large employers with an annual playbill of more than £3m are required to pay an apprenticeship levy. This is set at a value of 0.5% of the total paybill with a £15,000 allowance from the government to offset against the payment. The lev... »

Religious Symbols In The Workplace: Still Safer To Allow Them

Religious Symbols In The Workplace: Still Safer To Allow Them

As you may be aware, the European Court of Justice (ECJ) has given a ruling on wearing religious clothing, such as Islamic headscarves, at work. Before explaining the ruling, I’ll say this – it remains safer to allow your workers to wear religious clothing or symbols. Banning such symbols may result in a finding of indirect discrimination. But what this ruling says is that if you do wish to project neutral corporate image, and you apply the same rule to every religious and political viewpoint, it might not be direct discrimination, and in some circumstances, it might be possible to justify the rule. The context The ruling relates to two cases. Both cases concern private employers and female Muslim employees. In both cases, there were rules against the wearing of visible religious symbols i... »

The Law Cannot Keep Up With Technology, Can You?

The Law Cannot Keep Up With Technology, Can You?

Technology is big business for the UK and despite scary tales I believe following Brexit the UK will continue to thrive. London continues to be a hub of excitement for investment and advanced technology development. So now the UK law must evolve to respond to these advances and changes in society and business, but we all know it’s not likely to keep up very easily. A perfect example is the current data protection law which is based on a piece of law from 1998. Whilst the law has recently been updated (2016) this will only take effect from 2018. As we all know technology is barely recognisable from 1998 and you have to wonder is it going to be out of date before its even implemented? So, what faces business owners, investors and technology creators? Artificial intelligence Autonomous cars a... »

Negotiating The Workers’ Rights Minefield

Negotiating The Workers’ Rights Minefield

With so many businesses coming under scrutiny over the employment rights of their staff, small business owners would be forgiven for feeling overwhelmed and confused by the sheer volume of employer do’s and don’ts. The recent Pimlico Plumbers v Smith case is yet another interesting development, and will be viewed with much interest by small business owners. The ruling The Court of Appeal ruled that plumber Gary Smith was entitled to basic workers’ rights despite his contract with Pimlico Plumbers describing him as self-employed. He was considered to be employed for Equality Act purposes, meaning he was entitled to complain about discrimination towards his disability, and he was considered to be a worker with regards to receiving holiday pay and unauthorised deductions from wages. It was co... »

Optimising For Micro-Moments With Targeted Landing Pages

Optimising For Micro-Moments With Targeted Landing Pages

Landing pages are an absolutely essential part of your inbound marketing mix, helping to provide a relevant, targeted and personalised experience tailored to your customer’s intent. For those of you who don’t know, a landing page is simply a web page that serves as the entry point for a website or particular section of a website. Hubspot conducted some research across 7,000 businesses and found that, whilst most companies don’t see an increase in leads when increasing their total number of landing pages from 1-5 to 6-10, companies do see a 55% increase in leads when increasing their number of landing pages from 10 to 15. Even more interesting is that this figure spikes massively when increased to 40 or more. This data also correlates to the number of leads generated. The data is hard... »

Here’s What Your Employees Are REALLY Afraid Of

Here’s What Your Employees Are REALLY Afraid Of

According to recent research from CV-Library, nearly half (47.8%) of UK professionals admit to having fears in the workplace, with over a third (35.7%) believing that these fears have impacted their career. In fact, many workers admitted to suffering with anxiety, not applying for certain positions and turning down job offers as a result. These findings are very concerning, and as an employer it’s vital that you can recognise when these fears are getting all too much for your employees and help them to overcome their anxieties. So what exactly is holding professionals back, and how can you address this in your business? Making a mistake One in five workers (20.1%) said that their biggest workplace fear is making a mistake. While it is a horrible feeling knowing you’ve made an error, we are... »

Why Your Small Business Cannot Afford To Ignore Micro-Moments in 2017

Why Your Small Business Cannot Afford To Ignore Micro-Moments in 2017

‘Micro-moments’ are the talk of 2017 within the digital marketing community, and your business should be taking note. Labelled by Google, micro-moments refer to the hundreds of interactions we (read: your customers) make each day with our mobile devices. Google believes that we “are seeing a fundamental change in the way people consume media”. These include actions such as checking the time or weather forecast, or using your phone as an alarm clock. How many of us wear watches but generally reach for our phones to check the time? I’d bet that I’m not the only one. Then, there are ‘those’ moments. The I want-to-know moments, I want-to-go moments, I want-to-do moments, and I want-to-buy moments—that really matter. These are what Google are referring to with the phrase ‘micro-moments’, and th... »

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