BUSINESS INSIGHT

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.

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.

Most UK adults can get called for jury service. This can present some issues for employers, who must legally provide time off for the employee when they need it. Most trials are over within a few days, but more serious or complex crimes will take longer.

Although investing in another market can be risky and require a lot of capital, the rewards can be huge.

Fifty percent of start-up businesses fail in the first year and 95 percent fail within the first five years but despite the economic downturn, the SME market continues to grow. While no one knows if a business will succeed or fail - you can take steps in order to help your business get off to the absolute best start.

So your company has been running for a year now and it’s time for some small expansion. The problem is that you’ve only ever worked for other people and you’ve never had to recruit someone. Or it’s been some time since you recruited someone into a role and aren’t sure how employment legislation has changed. Follow these simple rules, says Paul Pearce-Couch, and you won’t go wrong.

Dress codes are popular policies throughout the business world and can be found within companies of all sizes. They codify precisely what is expected of employees with regard to attire and personal appearance. There are pros and cons – consider these before you decide to go ahead.

Start-up finance from friends and family is a popular way to kick-start a business; favourable terms and flexible repayment schedules are often just what entrepreneurs need when trying to get off to a good start.

Government grants are growing in popularity; with funding available for a range of projects and in different geographic areas, small businesses no longer have to feel limited by traditional ways of raising capital. Applying for a Government grant is easy and can be very cost-effective.

Keeping in touch with colleagues is essential in today’s fast-paced business environment. Finding the right mobile phones for employees – and on the right contract – can help improve productivity and keep costs down