Articles

Many entrepreneurs find money management difficult, especially during in the early days, and yet it is something that is absolutely critical to the success of your venture. Here are some of the most common money management mistakes that entrepreneurs make and how you can avoid making them yourself.

Each piece of software that you purchase for your business will come with a license stipulating what you can and can’t do with it, and it is essential that you fully understand the terms of the license to ensure that you stay legal.

This article was written by Michael Buckworth, a partner in Buckworth Solicitors. Buckworth Solicitors is a London based law firm specialising in assisting start-ups on a range of matters. The firm works solely on the basis of affordable fixed fees. Michael worked at two of the world’s best law firms for eight years before setting up Buckworth Solicitors at the start of 2011.

We’ve all seen libel and slander cases hitting the headlines – most seemingly involving celebrities or the rich and famous – however it’s also a big problem for businesses and in the most extreme cases can damage a businesses reputation to the point where it can no longer continue trading. So what should you do if your business finds out that a third party is making libellous or slanderous statements about it?

Danny Jatania is CEO and Chairman of Pockit, an online savings website which allows its members to participate in exclusive offers and discounts in areas such as insurance and utilities. He is also a Director of Lornamead, a leading, privately-owned family company that markets personal care brands globally. We catch up with Danny to discuss his experiences at both Lornamead and Pockit.

With recent research showing that the average age of entrepreneurs is declining, we take a look at some of the specific issues and challenges faced by entrepreneurs aged under 18 and guide you through some of the main things to be aware of as a minor…

If you’re new to business, you may hear a lot of words and phrases that are unfamiliar to you. Our glossary will explain some of the meanings of the most commonly used business phrases – so talking to your accountant should be a bit easier in the future.

As an employer, you are legally bound to provide a written contract for each employee within two months of the date their employment commences. Full- and part-time workers are entitled to the same treatment – e.g. hourly pay, bank holiday entitlement, sick pay, holiday pay, pension payments, and opportunities for promotion.

While companies are within their rights to monitor employee communications, they must be cautious that they are acting in the correct manner and have the correct permission from employees to monitor their communications. This guide will explain how and when monitoring is appropriate.

In an age where time equals money, small businesses can reduce costs by improving the efficiency of their HR processes. Tools that speed these processes up while simultaneously eliminating errors can directly benefit an SME’s bottom line.

Carbon dioxide (CO2) emissions have become a pertinent issue for businesses throughout the UK. The importance of reducing carbon footprints is to save energy and money and reduce the impact of business activity on the environment. A growing number of SMEs and business start-ups are being encouraged to consider their own carbon management strategy and targets.

The profit and loss account forms part of a business’ financial statements. It summarises the trading results of a business over a period of time (typically one year). In contrast, the balance sheet is a ‘snap shot’ of the assets and liabilities of the business at a particular point in time.

Dress-down Fridays, otherwise known as casual Fridays, are popular policies that allow workers to wear more casual attire every Friday. Because they cost next to nothing to implement, and are generally perceived to have a positive effect on staff, they have become more widespread in recent years. There is some disagreement as to whether the negative effects of dress-down Fridays are significant, although for many companies the benefits will outweigh the risks.

Business growth has traditionally been financed by banks, venture capitalists or angel investors. But sometimes the traditional route is not always ideal. Nowadays the potential funding opportunities have diversified. If your company is struggling to raise finance, consider looking for an alternative method of funding to get the cash you need to growth.

All business owners want their business to turn a profit. However, they also want to be sure that the accounts accurately reflect not only the income; but the expenses too. Claiming the correct expenses, will mean that your profits are accurate and therefore, your tax bill is no more than you are legally obliged to pay. Knowing what to and what-not-to claim can be tricky though.

Choosing the best broadband options explained for businesses. Most businesses these days require an internet connection in order to function effectively, and that connection will typically be a business broadband service offered by an internet service provider (ISP). But with so much variation in the market with regard to speed, uptime and level of service support, choosing the right package can be difficult.