Update to the Confirmation Statement: SIC Code change

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Update to the Confirmation Statement: SIC Code change

When forming your limited company you will have noticed the Standard Industrial Classification code (or SIC code), which represents the type of business or industry your business identifies with. This is also part of the information that makes up the Confirmation Statement, the annual filing obligation required by Companies House (the UK’s registrar of companies).

The SIC code 82990 (‘Other business support services activities not elsewhere categorised’) is a common code used at the time of incorporation as some people are unsure what suits them best at this stage.

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An interview with Darren Spence from We Are Tea

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Darren Spence

Coffee may have once been the drink of Mondays, but a loyal nation of tea-drinkers means that many infusions and strengths can be found at your local cafe. In fact, often green tea is now just as likely to be on the drinks menu as a traditional tea for a health-conscious society.

With afternoon tea time on the rise, we were excited to speak to We Are Tea founder Darren Spence to find out what it takes to get the brew just right when it comes to building a sustainable tea business, including their take on plastic-free tea bags.
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An interview with George Bevis, founder of Tide

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George Bevis, Tide

In our latest interview we chat with George Bevis – founder of Tide, a business current account launched at the beginning of last year and counting 30,000+ members already – making it the fastest growing new B2B fintech in the UK ever.

Tell us about Tide

Tide is a next-generation banking service for business owners, but it’s really about doing what you love, and having more time for it. The problem we solve, is that banking and admin tend to soak up a huge amount of time for business owners and that’s something they rightly loathe. We’re here so that business owners can spend as little time on banking as possible. Continue reading

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Do you have a cost-effective business?

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Profit margins are the be-all and end-all of running a business, and with so many expenses coming from every angle, it can be a huge challenge to keep things cost-effective. 82% of small businesses fail because of cash flow mismanagement, which goes to show just how important it is for a business to maximise their income and minimise their output.

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Top 5 Marketing Tools for Startups

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Startups face the unique challenge of translating passions and ideas into repeatable profits. If you want to scale your business successfully, you need systems that support your goals. The great news is that with today’s technology, you no longer have to rely on manual processes and spreadsheets as your business grows. There are many powerful tools available that offer agility-boosting features for a price that won’t break the marketing budget.

Here’s a closer look at the top 5 marketing tools that your startup company should (and can) invest in early on to support your business goals as your grow.

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An interview with Julie Holmes, co-founder of Hey Mic!

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 HeyMic! Founders

Tell us a little bit about your company. What is your business in your own words? How long has it been running?

I’m Julie Holmes, the creator and co-founder of a company called JUST Innovate Ltd which manufactures and sells a neat little gadget called Hey Mic!. Hey Mic! is a Bluetooth wireless microphone explicitly designed to connect with smartphones to capture great audio with your videos.

Our business has two founders: Steve Clarke and me. We’re both professional speakers who decided to work together early last year, and we’ve been running since June 2017. We launched Hey Mic! within 90 days!

Was there a lightbulb moment?

It happened when I was working at a trade show, where I was speaking to a group of about 200 people. I wanted to capture some audio of the essential messages I had put together for this presentation and the questions asked by the audience so that I could share them back with other people in my business, namely sales and marketing.

I’d done recordings on my phone before, but they were never good enough to be used as it was often hard to hear in big, busy rooms. I knew at that moment I needed to create something that would make it easy for me to capture and reuse the audio, so that’s where the idea of Hey Mic! was born.

Were there any big pain points when you were starting up the business?

One of the most significant challenges we had was purely finding time to get things off the ground.

Both Steve and I are busy, full-time speakers and business leaders, so carving out and creating another company was incredibly hard. So, as you can imagine, we were both working evenings and weekends as we tried to get Hey Mic! off the ground and it often felt like there weren’t enough hours in the day – we got tired! But we believed in our product, so knew we had to make it happen.

What has the high point been so far?

We donated a couple of Hey Mic!s to the Professional Speakers’ Association in the UK to help raise funds for their Foundation, which collects money from its members via auctions for other speakers when they fall on hard times, or just need a helping hand.

I was amazed to see how excited everyone was to bid on our product! It was so rewarding to see how much money we were generating for the cause, but it also reinforced that people in our marketplace; our friends and colleagues, saw how valuable Hey Mic! could be for them.

Have there been any low points and how did you overcome them?

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Think you’re stuck with your company name? Think again

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Ah yes, the flamboyant company name. It seemed like a good idea at the time but now you’re just not so sure. In fact, you are sure – you don’t like it. So what are you going to do now? Continue reading

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A fresh start for freelancers: 6 New Year’s resolutions for the self-employed – Guest post from FreeAgent

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Your personal resolve to keep up that workout routine might be fading, but it’s never too late to make achievable resolutions for your small business! January is still an excellent time to review your progress in the previous year, and think about what goals you want to achieve in the coming year.

Emily Coltman FCA, chief accountant at award-winning accounting software FreeAgent, suggests six straightforward resolutions to help your small businesses bloom in 2018.

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Give your business a workout

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Give your business a workout!

We all know the promises we make at the start of the year to get in shape, feel fitter and be stronger, but do you think about your business in the same way? Forget signing up to the gym, give your business a workout instead and get a head-start to 2018. Ready, set, go!

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What’s your business’s most important asset? It’s probably not what you think

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When asked, “What is your most important asset?” most company owners that we asked said it was their business or their properties. However, at Interlife we would disagree. We believe your health is a much more valuable asset. Ask yourself this, if your health deteriorated and you were unable to work, would your business continue, and would you be able to afford to pay your loans? This starts the business protection discussion. Continue reading

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