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February 25, 2005
Small Business Suppliers Benefit From New Government e-bid System
Much has been said in recent months about the lack of small companies bidding for government contracts and the fact the government contracts tend to be awarded to large companies. To address this imbalance the UK government has set up a new web based system that makes it easier for small businesses to bid for public sector contracts.
The system comprises a set of software tools accessible from any web browser was launched by OGCbuying.solutions, a trading arm of the Office of Government Commerce.
The tools aid all aspect of the tender process, from bid submission to evaluation of bid proposals. It also allows the electronic management of contracts and for collaboration between buyers and suppliers such as the sharing of drawings or project plans before or after a contract is won.
The new e-procurement system will result in less time being spent on proposals by public sector buyers.
For more information contact OGCbuying.solutions, the trading arm of the Office of Government Commerce.
David
Small Business Resource
Posted by David at 12:49 PM | Comments (0) | TrackBack
Enterprise Grants
Enterprise grants may be made available to small-and medium-sized firms(up to 250 employees) looking to finance business growth. Grants are made on a discretionary basis by the Small Business Service's regional teams across the country. Projects can include setting up a new venture, and restructuring, modernising and expanding an existing business.
Those projects that create new jobs and bring economic benefits to the region (not just to the business owners) tend to be looked on more favourably. Projects should usually be long term in nature.
A small business (up to 50 employees) may obtain an enterprise grant of up to 15% of the cost of the project. (up to amaximum grant of £75,000). A medium size business (up to 250 employees) may receive up to 7.5% of the cost of a project (up to a maximum grant of £37,500). This sum may be increased to 15% if the business is located in an Assisted Area, as defined by the European Union.
There are various selection critera for eligibility,but there are numerous regional variations depending on the economic needs in different regions, so you need to check locally.
To get more information and to check your eligibility, contact Business Link on 0845 600 9006. They will help put you in touch with a local contact. You can also check out Business Link The web site containsA Guide to Enterprise Grant. It includes advice on eligibility and who you should talk to depending on what you want to do. An application form can also be found on the site for downloading and submission.
David
Small Business Resource
Posted by David at 9:06 AM | Comments (0) | TrackBack
February 24, 2005
Small-Firms Loan Guarantee Scheme
The Small-Business Service (SBS) Small-Firms Loan Guarantee Scheme
can be used by entrepreneurs with a sound business idea but who
cannot arrange a loan because of a lack of security.
If a bank (that is involved with the scheme) thinks your idea is
viable but you don't have sufficient security for them to finance it,
they can forward your proposal to the SBS for consideration under
this scheme. If it is approved, 75% of the loan will be guaranteed
by the SBS, with the other 25% being unsecured against whatever you
have to offer.
Most small businesses qualify, including retailing and catering,
hairdressing and beauty salons, estate agents, motor-vehicle repair
and servicing and travel agents. The maximum turnover level for non-
manufacturing businesses is £3 million. This goes up to £5 million
if you're a manufacturer.
Loans are available for sums from £5,000 to £100,000 for start-ups
and up to £250,000 if you've been trading for two years or more. Loans
run from a two-year to a 10-year period. Note that borrowers pay a
premium to use this service, and it is set at 2% per year on the
outstanding balance of the loan.
To find out more, phone the Small Firms Loan Guarantee Unit (0114
259 7308).To make an application under the scheme, go direct to
one of the lenders involved with the scheme. These include Bank of
Ireland (Northern Ireland Only), Bank of Scotland, Barclays Bank,
Clydesdale Bank, Co-operative Bank, Doncaster Business Advice Centre,
emerging Business Trust limited, First Trust Bank/Allied Irish Banks,
HSBC Bank, Lloyds TSB, National Westminster Bank, Northern Bank,
Northern Enterprise Limited, Northern Venture managers Ltd,
one London Ltd, Royal Bank of Scotland, State Securities Plc,
UK Steel Enterprise, Ulster Bank, Venture Finance Plc, Yorkshire
Bank, Yorkshire Enterprise Ltd.
Note that this list is subject to change, although big lenders should
remain involved on a long-term basis.
David
Small Business Resource
Posted by David at 12:07 PM | Comments (0) | TrackBack
February 23, 2005
Grants And Other Schemes For Start-Ups And Small Businesses
It's not a coincidence that the most searched terms by visitors
to Small Business Resource’s web site are "small business grant"
and "government grant."
The most successful entrepreneurs are always looking for new ways to build and develop their businesses. But moving into bigger premise, taking on new employees, training staff in different skills, and developing into other markets can be very expensive.
The start-up costs are often high enough to prevent many entrepreneurs from pursuing their goals. Yet financial assistance is often available for many start-up and other small companies.
There are various local, regional and national grant schemes that can be accessed by entrepreneurs, whether they are starting up or looking to expand. There are also several overseas-related grants and schemes that are available:
. Small-Firms Loan Guarantee Scheme
. Enterprise Grants
. Regional Selective Assistance
. Modern Apprenticeship Programme
. New Deal For Employers
. Partnership-at-Work Fund
. Grants for investigating Innovative Ideas
. Export Marketing Research
. Eureka
. New Products from Britain
This is the first of ten reports on the main grants and schemes that are most likely to be of interest to all entrepreneurs, regardless of their location, business activities and plans.
There are literally 100s of different grants and schemes available though - some for specific sectors, others in particular locations, and some for particular activities. I'll give you contact details for finding out more about the other, more specific grants and schemes that might be on offer to you.
David
Small Business Resource
Posted by David at 10:19 AM | Comments (0) | TrackBack
February 15, 2005
Holiday Lessons Help Small Business Startups
Going back to school might be the springboard to generating ideas and launching your business but you’ll have to sacrifice your summer holidays.
Instead of heading for the beach in cooler climate this summer budding entrepreneurs could be checking into heading to summer schools in London, Sheffield and Leeds to launch their start up business. Startup courses costing from £100 to £6,000 is being offered to would be small business owners who can tap into the skills of experienced business people.
Past courses have produced a healthy crop of business startups that include an African airline to a student promotions company in Yorkshire.
It’s true to say that a university education does not encourage entrepreneurship however; the courses on offer are designed to be practical with presentations from bank managers, accountants and solicitors
According to Martijn Mugge, who organises the Sheffield course, “Universities are good at teaching about entrepreneurship but not teaching for it. You can’t tell people the rules of football, for example, and then expect them to play like David Beckham”.
While summer school startup initiatives should be encouraged they do not provide the resources that start up companies need to overcome the challenges in the critical two to three years in business, when 95% of small businesses fail.
The problems I with these schemes include:
· No ongoing mentoring from successful entrepreneurs who can steer you in the right direction towards realizing your goals.
· Killer strategies for marketing, advertising and selling, including effective time Management. All tried tested, tracked and honed to squeeze every ounce on value: top line sales and bottom line profits
Nevertheless, summer schools offer an environment that should encourage delegates in starting a small business as they are filling a gap.
Posted by David at 12:13 PM | Comments (0) | TrackBack
February 13, 2005
Why Women Are Leading The Way As Small Business Entrepreneurs
Women in rural areas of the north west of UK are leading the way as small business entrepreneurs. This is according to recent research and statement by Women And Equality Minister, Jackie Smith.
According to the minister, "If women started businesses at the same rate as men we would have 150,000 extra start ups in the UK.
In terms of contribution to UK economy, rural female entrepreneurs are helping to generate £50 and £70 billion a year.
But barriers remain that prevents more women from following in the footsteps of successful women entrepreneurs, such as access to finance, business support, help with confidence and self esteem, rural isolation, not being taken seriously, and more role models.
According to "Global Entrepreneurship Monitor" report from London Business School. Female entrepreneurship in the UK rose to 3.9% in 2004.
According to "Gemconsulting" report, women amount to 5.1% of total entrepreneurial activity in the UK.
Posted by David at 10:19 PM | Comments (0) | TrackBack
February 9, 2005
SMALL BUSINESS: Searching For Champions
All small business owners who believe they are worthy to be hailed ac champions can apply for this accolade. With hundreds of thousands of small businesses starting up every year it will not be too difficult to find a few champions.
As well as putting the achievements of Britain's small businesses into the limelight, the awards will highlight an all-Britain Champion who will win a business trip to New York.
THE Federation of Small Businesses (FSB) and Lloyds TSB are sponsoring the British Small Business Champions (BSBC) for 2005.
FSB national chairman Carol Undy said: "British Small Business Champions sends out a clear message that small to medium-sized enterprises value genuine recognition for their achievements and the invaluable contribution they make to customers, employees and communities across the UK."
Entry is straightforward. Application forms will be available from March 9, with the deadline for entries being May 12.
The regional winners will go on to compete for the overall title of British Small Business Champion title, which will be awarded later in the year.
For information and entry forms, please contact BSBC on 01525 381503 or email: businessawards@fsb.org.uk
Posted by David at 1:02 PM | Comments (0) | TrackBack
February 8, 2005
Millions of Pounds’ Worth of Grants Left Unclaimed Every Year
Huge amounts of money in potential grant funding for UK small business are not being taken up – according to a Federation of Small Business survey only 7% of small businesses were taking advantage of the financial help on offer.
In addition, recent studies have suggested only a small percentage of support and finance, allocated by the DTI was finding its way to those who needed it.
The main reason for the problem was a lack of awareness and time to research the difficult grant jungle. To help combat the problem Abbey National Business has started offering advice on its web site: grant advice
Help with grants is available to both customers and non-customers alike and highlights who’s eligible, which grants are suitable and how to go about applying.
David
Small Business Resource
Posted by David at 12:29 PM | Comments (0) | TrackBack
February 7, 2005
News! Business Owners Don’t Be Caught Out By UK Anti-spam Act
With increasing focus on the sending of Spam or “Junk emails” by the FTC in the United States (“Can-spam Act”) and the courts in the United Kingdom it won’t be long before small business owners will begin to feel the might of the law. At least, those business owners who continue to flout the law.
In the UK, consumers have to give their explicit consent before companies are allowed to send spam, unless a prior subscription agreement existed. It doesn’t stop at emails because small companies will also have to give recipients the option to refuse Internet tracking devises, such as cookies, and there’s a requirement to make users aware if they are included in survey stats on the topic of Internet traffic.
Soon small companies will be able to opt out of telemarketing.
Companies who suffer loss as a direct consequence of spam can also sue the sender for damages.
It doesn’t stop there because any breach of the law will be a criminal offence, with fines of up to £5,000 if the case is heard in a magistrates court, or an unlimited fine if the trail goes before a jury. Spamming in 2005 may begin to finally cost the spammers.
David
Small Business Resource
Posted by David at 3:26 PM | Comments (0) | TrackBack
February 6, 2005
Not All About Small Business and Profit
very so often I’m reminded how lucky I am to be alive and blessed. Caught up in the hustle and bustle of managing a small business and being a father to three very special young and lively spirits it’s easy to think that ‘tomorrow will be another day’. But will it?
Turning the pages of “The Times” newspaper an article caught my attention. The article is titled, “Noble Fight Against Cancer Ends With Last Entry On Internet Diary.” The article is about the death of Ivan Noble from a brain tumour. He was only 37 years young. Ivan wrote for BBC News and started his Internet Diary in September 2002 when he was diagnosed with cancer. His diary attracted many visitors who responded by sharing their experiences and drawing strength from Ivan’s courageous chronicle
Why am I writing about this?
Well it has to do with the waste of precious time that you and I devote to building a business and getting hang up on things that have little consequence. Sure, we have to work. Being your own boss gives is hard work and the freedom to spend your time how you want. While you are building to gain financial freedom, think about the “Pareto Principle”: 80% of your income will come from 20% of your customers.
Work the 20% to extract maximum value for your small business so you can spend valuable time with those who matter the most. The key is to ‘work smart’… tomorrow is hoped and is never guaranteed.
David
Small Business Resource
Posted by David at 6:30 PM | Comments (0) | TrackBack
February 5, 2005
How Small Business owners Can Finally Be The Pilot
A bank manager for a top UK Bank recently said at a business meeting I was attending "If only senior bank personnel could interpret accounts the bank would be able to make better financing and lending decisions."
Strange as it may seem interpreting accounts is a problem also faced by Accountants. If you’re applying for a small business loan you can be certain that your Bank Manager or Business Manager will want to see your accounts, cash flow statements budgets statements and even your business plan. But how can they interpret them, especially if the results cover three, four or five years?
If you rely on an Accountant to prepare your accounts, VAT returns and management accounts chances are he doesn’t prepare a report that analyses the performance of the business. Let’s be real, how can you manage your business if you are missing the most important tool of all, "analysis of how your business has utilised resources (fixed and liquid) in adding real, bottom line value."
As an Accountant, I must concede that when I was studying for my exams, "interpretation of accounts" was given just two lessons and exam questions tend to crop up in the earlier papers.
"No wonder this is an area that Accountants pay little attention to!"
"Cash is king", it’s the lifeblood, the oil that flows and "greases" the wheels that turn effort and fixed resource into bottom line profit. That’s why a cashflow statement is the most useful tool to a small business entrepreneur.
Consider what it would mean for your business if you could see the impact on liquidity, profitability and efficiency of every transaction your business processed ... a tool that you could bolt onto your accounting software, just like the cockpit of an airplane that gives signaling messages to a pilot.
Instead of the Bank Manager struggling to interpret your results you can help him by giving him the information he’s looking for. Better than that, you can explain your results that impart confidence in your ability to manage your business.
If your business could benefit from such a tool you won’t have to wait too long. Continue to watch this space for major announcement in this area.
David
Small Business Resource
Posted by David at 6:56 PM | Comments (0) | TrackBack
February 4, 2005
If Sony Is Interested In Blog Publishing So Should Small Business Owners
You might have noticed an up swell of interest in blogging and RSS (Real Simple Syndication) as a tool for publishing content and communicating directly with visitors, prospects, customers and publishers of content. As a small business owner who is interested in providing unique content and communicating with your audience blogs is definitely the way to go.
Blogging is very new but while you’re reading this brief message, advertising and publishing giants like Google and Yahoo are gearing up to take advantage of the benefits offered by weblogs.
Yesterday, even Sony decided to enter the ‘blog trail’ by entering into agreement with Gawker Media to sponsor a new blog on software. You can read the Adrants article
Blog and RSS as a marketing tool can offer great benefits for small companies. An a small business owner who is using the Internet as a marketing medium, it’s a low cost medium for generating traffic to your web site, developing a unique identity and building long term relationships with subscribers and customers.
If you want to know more about blogging and RSS, and how to be on the ground floor of what will be the next Internet phenomenon, how2blog.com is ahead of the curve. You won’t find a better resource on how to blog for fun and profits.
David
Small Business Resource
Posted by David at 9:58 AM | Comments (0) | TrackBack
February 3, 2005
Use Images In Small Business Advertising?
If you use an advertising agency, your in house marketing resource or if you do it yourself this is the most important article you’ll read this year.
A Nursery schoolteacher in California has become an instant multimillionaire after recognising himself on a jar of Nestcafé.
It all started when a woman is a shopping market queue leant over and said to Russell Christoff, "You look like the guy on my coffee jar."
A few weeks later Russell Christoff came face to face with himself on a jar of Taster’s Choice Coffee: American version of Nestcafé.
It transpires that Mr Christoff spent years working as a model and actor. In 1986, Mr Christoff did a photo shoot for Nestle. Unknown to him Nestle was using his face on popular labels in the Untied States, Israel, Japan, Kuwait, Mexico and South Korea for about six years.
Luckily for Mr Christoff’s old modelling contract entitled him to $2,000 fee if his image was used. Nestle offered to settle for $100,000 on the basis that Mr Christoff was an employee and that it was entitled to use the photo. But Mr Christoff sued for $8.5 million. A jury in Los Angeles County Superior Court ruled that Mr Christoff is entitled to $330,000 for the use of the photo plus 5% of the profit from Taster’s Choice Sales from 1997 – 2003.
‘The image was used not only on jars but on posters, coupons and even a screwdriver’.
If you’re a small business owner who use images on your advertising material and products always question their source and whether they are subject to copyright laws. Failure to question could cost you dearly, as in the ‘Nestlé case’.
David
Small Business Resource
Based on article published in The Times, Wednesday, February 2, 2005
Posted by David at 9:26 AM | Comments (0) | TrackBack
February 2, 2005
Small Business Ideas You Can Start Today
Many visitors to Small Business Resource web site are looking for small business ideas. I know that because of the number of searches with the words "small business idea". Also the tracking software tells me key information. It’s no coincidence that we currently rank very highly in www.google.com for the keyword "small business ideas".
So, here are some business ideas you can start and run from home:
1.Backyard / Garden Ponds/ Water Gardens
These are increasing in demand. Homeowners love the sound of splashing and cascading water and having fishes in the garden. These ponds are very easy to build. There are kits that can help with easy construction. Pumps keep the water going and lights are available to keep them looking their best at night. Water gardens are very much in demand.
2.Market Your Arts And Crafts
If you have jewellery, art, photography, distress furniture, make baskets, etc, there are several books available that can help you learn how to market your art and crafts. Sell them at fairs, or sell them directly to stores or even to catalogue-owners.
3.Handyman
Are you handy around the house? Wouldn’t be nice to get paid for it? There are probably plenty of people in your neighbourhood or own town that would love to pay for your handyman services. You might think it’s simple to install a light socket, put up moulding, change a doorknob, patch a screen, repair a broken door hinge or put up some bookshelves, but most people do not. Promote your small business via word of mouth, fliers or a small advertisement in your local newspaper.
4.Special Events Video
Do you enjoy making videos of special gatherings for your family and friends? Why not get paid for it? Take your video camera and start a small business recording special events around town for your neighbours and business associates. Your jobs could range from a corporate retirement dinner, a school picnic, a wedding, a special town club event, a marathon, a local band’s gig, and you name-it. You might need to pick up a tripod or some special light to start this business, so save the receipts. These supplies are tax deductible.
5.Resume Service
If you have a good computer and a laser printer, consider your own resume service, there are lots of people who don’t know how to prepare a resume. You can prepare nice-looking resumes to land a new job. If you already have a computer, you can start straight away. Place ads and post fliers on your new service. Go to your local bookstore and check out the books and software on resume preparation. Contact businesses in your area that might be making people redundant. Ask if you can work with the personnel department to provide resumes to these individuals.
Next week I’ll briefly cover other small business ideas you can easily start from home like, teach your craft, newsletter, knife sharpening, birdhouse building and hometown guide.
David
Small Business Resource
So, here are some business ideas you can start and run from home:
Posted by David at 12:52 PM | Comments (0) | TrackBack
February 1, 2005
How Change In “Can-Spam” Is About To Hit Spammers Where It Hurts
Spam emails are the ‘curse of the Internet’ of plague proportions and that’s not being overdramatic. Small business owners spend hours of unproductive time sifting and filtering hundreds and spam emails from their email boxes every day. If it’s not Viagra, it’s some other medication, Internet get rich scam or pornographic content.
By using anti-spam software some spam in being blocked but legitimate emails are being mistaken for spam resulting in potential loss of business and reputation.
But all this is about to change, at least in the USA. The FTC (Federal Trade Commission) is about to turn its attention to spammers.
If you’re a small company that sends spam emails the FTC, in turning its attention to spammers who currently get away with sending "junk email", the FTC will be broadening Its "Can-Spam" remit.
If caught, and this is the ‘real crux on the matter’ it’s bound to hit spammers where it hurts, in their bank account. To be effective The FTC could impose huge fines on offending companies.
This is welcoming news for small business owners, however important questions remain such as, policing by the FTC, what constitutes a legitimate email, how can you stop an irate Webmaster and disgruntled Webmaster in accusing you of sending him a spam email.
Also, what about spam emails sent by small businesses in USA to foreign web site owners? These are just some of the important issues that the FTC has to consider if is to effective in tackling spam under the "Can-Spam" Act.
In it’s most recent action the FTC, initiated it’s first suit against alleged violators of the adult content provision of "Can-Spam."
D Davis
Small Business Resource
Posted by David at 11:36 AM | Comments (0) | TrackBack
