A gift from the Government! Ease your cashflow and Build your Pension, all at the same time – is this too good to be true? November 20, 2008
Posted by businessgrowthmastery in Entrepreneurial, Financial Management, General, Vision & Strategy.Tags: business cashflow, business growth, funding my business growth, Pensions, SIPP
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A couple of years ago, the Government changed the rules surrounding Pensions, allowing those with a Self Invested Personal Pension (SIPP) to invest in their own business.
A number of specialist providers have assisted many organisations to do so and the impact can be amazing on both your business finances and your personal pension assets.
However, since 1 October 2008, this opportunity has got even better!
Why – well although you have been able to contract out of the State Earning Related Pension Scheme (SERPS) since April 1989 – these funds being known as Protected Rights – it is only since the beginning of October that you have been able to have the same investment freedom if these Protected Rights are invested into a SIPP.
So how can this benefit you and your business?
About to be launched… November 12, 2008
Posted by businessgrowthmastery in General.Tags: business growth, contractors, freelance contractors
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A good friend of mine is about to launch a new website, dedicated to supporting freelance contractors.
The address is http://www.just4contractors.com and provides freelancers with help and advice as well as access to a range of jopb opportunities.
Check it out an let me know what you think.
Independent Contractors – how can you take advantage of their flexibility? October 21, 2008
Posted by businessgrowthmastery in Entrepreneurial, IT/ Technology, Leadership, Operations.Tags: business growth, business support, contractors, hiring, independent contractors, professional contractors
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Do you have a list of projects that you want to commence but never seem able to get around to starting?
For many small and medium sized businesses this is a real issue – there just never seems to be enought hours in the day to get everything done.
However, there may be an answer to these challenges and again it is something that we can learn from larger corporations. Many entrepreneurs manage to deliver quickly and efficiently by using a corps of independent contractors, who provide flexible, skilled help just when the business needs it and more importantly only when the business needs it!
Many entrepreneurs use professional contractors for two reasons – flexibility and variety. You can select a contractor with specific skills to undertake a specific projects and then once completed, end the contract and move onto the next one.You have no issues with hiring, firing and morale.
Coaching – can it help you and your business? October 21, 2008
Posted by businessgrowthmastery in Entrepreneurial, Mastermind Group.Tags: Business Coaching, business growth, coaching for business success, executive coaching
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It’s official, coaching is now a billion dollar industry experiencing explosive growth and it’s here to stay!
So says the Executive Coaching firms!
But my question is whether it can help you and your business. Just because the vast majority of CEOS and senior Executives of the worlds largest firms take advantage of regular coaching, how can this be translated to the needs of owners and leaders within small to medium sized firms?
In a nutshell, I believe that your needs are equally well served through the use of a Coach. Leadership, Financial Management, Team Development, Performance Management, Effective Sales and Marketing and Exit Strategies are common themes raised by growing businesses.
are common themes raised by growing businesses.
Almost every challenge a business owner faces can be addressed in one of these six areas. The good news is that Coaches have the answers.
Changes to Directors responsibilities… September 1, 2008
Posted by businessgrowthmastery in Financial Management.Tags: business growth, director responsibilities
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Joanna Hughes from the FT (http://www.ft.com) wrote…
Company directors could have to disclose any “significant doubts” over whether their business truly is a going concern under plans being drawn up by the UK’s corporate reporting watchdog.
The Financial Reporting Council is proposing an overhaul of the existing guidance for directors as the effects of the credit crunch spread to the wider economy. More companies are expected to fall into financial difficulties this year.
“Going concern” is the crucial judgment made separately by both directors and auditors that a business is financially viable for 12 months from the date the annual accounts are signed off.
The FRC is amending guidance drawn up in 1994. Under the existing paper, directors can reach one of three conclusions – that they are confident the business is a going concern; that they have some doubts but are content to use “going concern”; or that the business is not viable.
The regulator is proposing adding another that would require them to disclose if they had “identified material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern”.
In the current jittery environment, disclosures made under that heading could prove a severe blow to a company.
“We don’t think this is a new departure but, given it is a long time since we last had a recession, some people might have put these considerations at the back of their minds,” said Ian Wright, director of corporate reporting.
Mr Wright said the changes were designed to reflect developments in accounting rules since the mid-1990s. This year companies have faced a new rule, IFRS 7, for the first time, which requires a great deal more detailed disclosure of a company’s liquidity risks.
“It’s timely to remind everyone of additional requirements that didn’t used to be there,” said Mr Wright.
The impact on small to medium sized businesses espcially is significant – it is a pretty clear at the moment to state whether you able to proceed as a going concern, because you can apply some analytics to it. However, as soon as you create an ‘emotional’ decision, all hell breaks loose – who is to say that my assessment is the sames as yours and when there is difference, who is right??
SME Entrepreneurs – all effort, little impact? August 7, 2008
Posted by businessgrowthmastery in Entrepreneurial.Tags: business growth, business tips, entrepreneurs, support business growth
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I find this mentality amazingly frustrating. It simply ignores the fact that micro-enterprises account for over 95% of all businesses and employ over 50% of the working population.
Yes, I’m sure that we would all like to create the next google, or at least generate the type of wealth that google has created for its founders, but being realistic, by applying a simple blueprint for business success,
we can create significant wealth, massive employment opportunities and add value to the economy.Yes, being an SME entrepreneur is hard but I believe that the impact that we have is massive and long may it continue.
500 interviews – distilled into 8 secrets of success… July 28, 2008
Posted by businessgrowthmastery in Entrepreneurial, Leadership, Uncategorized.Tags: business growth, business success, secrets of success
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I’m always on the lookout for good stuff to feed my mind and it helps when the material is presented in a light hearte way!
a week or so ago, a friend referred me to the following video and although it is just three minutes long, I’m sure that you will agree with me that it is worth every second of your time.
Apply these secrets to your business and you will be successful. These are the basics for all business growth.
Let me have your thoughts
How will the Credit Crunch affect your business? July 16, 2008
Posted by businessgrowthmastery in Economic Environment, Financial Management, General, Leadership, Mastermind Group, Operations.Tags: business financing, business growth, business success, credit crunch, economic downturn, economic uncertainty
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However, the days of cheap money and a queue of people waiting to help you refinance are long gone and good riddance I say.
So what can you do to ensure that you are one of the winners and that you continue to deliver exceptional growth within your business?
For one, take these five simple steps;
Santander takeover of Alliance & Leicester – the impact on your business… July 14, 2008
Posted by businessgrowthmastery in Economic Environment, General.Tags: alliance & leicester, business growth, business success, mergers & acquisitions, Santander Group
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All of the press analysts have concentrated upon the mortgage assets of A&L as being the main driver of the acquisition and debated at length as to whether the deal will be good for the UK consumer.
By acquiring A&L, Santander will have taken control of two of the bigger mortgage providers in the UK, having taken over Abbey a few years ago. Both Abbey and A&L were previously Building Societies and have significant retail customer bases.
However, I think the real purpose of the A&L acquisition is for Santander to gain a foothold into the business market. A&L have a much more developed commercial proposition than Abbey and although Abbey have been trying to develop their business proposition, it hasn’t really taken off in the way that I think Santander would have liked.
By acquiring A&L, they can merge the two UK businesses together and reap the rewards from cost savings generated as a result of de-duplication across branch networks and more significantly in the support functions. But I feel far more importantly, Santander now have a valid business proposition in the UK market, one I’m sure that they will wish to develop and exploit.
So what’s the impact on UK businesses?
