You have started a business but you’re short of one very important thing… money. Having an extra source of capital can help your business in a number of ways: You could hire new staff, acquire a new office space, build a new product, go live with a marketing campaign, and of course much more.
Whether its clients “forgetting” to pay, stalling for time before settling their bill - or sometimes just deciding not to pay you at all - having to chase up money that’s rightfully yours is frustrating and time-consuming. And the problem of late payment is more widespread than you might think - the UK government estimates that small firms are currently owed around £26bn in late payments, while the process of chasing debts costs these businesses millions of pounds more.
On Thursday the 23rd of June we all get our say on whether Britain should remain part of the European Union or go it alone. The result of this referendum will undoubtedly have a huge impact on the future of Britain’s businesses.
As part of our continued endeavours to make business and life simple for our customers (and ourselves) - we’re undertaking some research to get close to what’s really going on with our customers - and importantly, what’s NOT making business simple for them. As brilliant as we all are at interpreting how to make business simple - there’s nothing better than hearing it directly from the ‘horse’s mouth’.
In the first part of our interview Lord Young gave his opinion on what makes a great entrepreneur and his most recent initiative, Start Up Loans - and how it has created opportunities for small businesses which did not exist before. In this week’s post Lord Young gives his views on the possibility of a tech giant emerging from the UK and what he thinks of the EU (amongst various other things).
As a business owner it is important to know about wider issues - which may indirectly affect not just your venture but the business landscape in which you operate in. As a small business one of the most important skills that you will need to have is adaptability.
It has been just over a year since MadeSimple moved to the N1 postcode and we are loving life here so far. However, the surrounding area of comprising the Old Street roundabout and beyond is a fantastic and vibrant area that has seen a large growth of new companies over the last few years.
Encouraging figures have been released this week with regards to the overall rate of employment in the UK. This is of course great news but what affect does this have on SMEs and their overall recruitment strategy.
This week saw a key and potentially transformative announcement that could significantly impact SMEs. This column has for a while highlighted the problems associated with business rates and the effect these have had on SMEs who use a non domestic property.
There is great change afoot, with the Government making automatic enrolment for pensions compulsory for employers. It’s extremely important that businesses take note of this - not just because it’s a duty every company is required to fulfill, but because it will affect the way you run your business.
It was great see a mention of The Startup Tracker (powered by us) in The Guardian last week!
If you are a business owner or director of an ambitious company then you should attend the elite business event for free, where you can focus entirely on the growth of your own business for 2014…..