Telling the truth about SME life today

Fail Forward: Harnessing Challenges For Accelerated Growth In The Business World

Business Success

By Mike Greene, entrepreneur, growth mentor, consultant, and speaker As a successful entrepreneur, I have tried many things, failed at many things, and often taken the long route to success. In my mid-20’s, I found myself homeless and bankrupt after a successful start in retail and hospitality. In a matter of weeks, I had gone […]

What Does An Improving Economy Have In Store For SMEs In 2024?

business confidence

By Mark Parsons, Corporate Lending MD for Shawbrook Bank for the Midlands and North SMEs have had a tough few years, first with the impact of the cost of living crisis, then with supply-chain issues adding to their own rising production costs. Still, many persevered and looking back, they should be extremely proud of their […]

11 Product Ideas To Buy In Bulk And Sell Individually

buy in bulk and sell individually

If you’re looking for a new business model to help you make money online, then you might have considered retail arbitrage, or, buying in bulk products from wholesale suppliers and then selling those wholesale products individually to make a profit. It’s a simple model that means you buy the best cheap wholesale products you can […]

9 Untold Extra Income Streams For Small Business Owners

Event hosting

In the dynamic landscape of SMEs, particularly in the UK, success often requires thinking beyond traditional income streams. SMEs must adopt and diversify revenue streams and maximise profitability to navigate the market’s complexities and unlock new opportunities.  Here are nine innovative and rarely considered strategies tailored to resonate with SMEs in the UK: Event Hosting […]

How To Set up a Holding Company – Ultimate Guide

holding company

To set up a holding company, you must form at least two separate legal entities for the holding company and the operating company. The holding company owns the operating company and each needs to have its own independent bank account. The holding company needs to be registered with Companies House as a private limited company […]

What Is A Company Seal and Do I Need One?

Company seal

A company seal is an emblem or stamp representing your business identity. It typically displays your company name and incorporation details and would typically be used to seal important documents or authenticate them as original.  Not every business needs a company seal as The Companies Act 2006 removed the requirements for companies to have a […]

What Is Enterprise In Business?

what is enterprise in business

An enterprise in business is a for-profit business that is started by an entrepreneur. Enterprise as a term in business refers to business operations that take on risk for a reward in the future. Enterprise companies and businesses take on financial risks to make a profit – it’s where the old saying “you’ve got to […]

When Do I Need To Register As Self Employed?

When Do I Need To Register As Self Employed

Anybody in the UK who is operating as a self employed individual must register as such with HMRC as soon as possible. You will need to register for self assessment tax returns with HMRC so that you’re earnings can be taxed accordingly, just as you would be taxed if you were part of the traditional […]

Do You Pay Tax On Dividends That Are Reinvested?

do you pay tax on dividends that are reinvested

Whether or not you pay tax on dividends that are reinvested is important for investors to understand as their tax implications depend on how the dividends are being reinvested. If a company pays out cash dividends to shareholders and they use that cash to buy additional shares (in other words, they reinvest the dividends themselves […]

What Does A Business Financial Advisor Do And What Are The Benefits

business financial advisor

A business financial advisor aims to provide expert business finance advice that enables businesses to make good financial decisions. The key benefits of this service are that businesses have objective assistance in reviewing their finance statements, spotting opportunities for cost savings or investments, preparing financial forecasts and staying informed on regulatory changes that will impact […]

The Ultimate Guide to Sole Trader Bookkeeping 

sole trader bookkeeping

As a sole trader, it’s important to be diligent with your bookkeeping to accurately track business performance, make informed decisions, manage taxes and plan strategically. This comprehensive guide covers everything sole traders need to know including: Bookkeeping Basics Key records to maintain like incomes, expenses, assets, and liabilities How recording this data enables real-time financial […]

What Is Conscious Business & How Can We Cultivate It?

Clothes donation

By Jill Taylor, CEO & Co-founder of The HuPerson Project To have a conscience in business, and to be a conscious business leader, are seemingly similar terms. Yet are they? Somehow, we have collapsed the distinction between conscience and conscious, eclipsing an important difference. Investigating how these terms are different is crucial in developing a […]