Top and bottom lines explained in plain English In the world of business, it feels like there are hundreds of terms and phrases that we should be familiar with. For new business owners, it can be overwhelming, especially when it comes to financial terms. For example, “top line” and “bottom line”: what do they mean? [...]
Start your own business right now with these top resources When you start your own business, it can be daunting. There are so many small details you never used to think about that are now in your control. Taxes. Insurance. Hiring talent. Even choosing which bank to open a business account with. One day you [...]
Things to think about before hiring friends and family So you need to hire more employees. Business is going well and you could do with a few extra pairs of hands. And hiring friends and family sounds ideal; it might even sound like a dream come true to work alongside the people you get along [...]
Why you need to network for business growth Growing your business can seem like a gargantuan task. You’ve started out small and simple. Now how do you expand that into something bigger? If you want to get your company out there, you could concentrate on your advertising and marketing. But never underestimate the value of [...]
The pros and cons of creating a new business franchise There comes a time in many businesses’ lives where you have to think about the next big step. How do you go from one level of success to another? One option is creating a franchise out of your business, allowing other would-be entrepreneurs to start [...]
Business valuations: what are they and what do they involve? A term that may come up during your business journey is ‘business valuation’. It might seem like a very nebulous term, but business valuations are relatively straightforward. They’re used to figure out the economic value of a business. This could be the company as a [...]
Scheme Extensions & the Job Support Scheme Rishi Sunak announced a new scheme which is to follow on from the current furlough scheme which is due to end in October. He has also made announcements on other support schemes that have been put in place/extended. The Job Support Scheme This scheme begins on 1st November [...]
Where do our taxes go? They say only two things are guaranteed in life: death and taxes. Today, we’re going to focus on the latter. As a business owner, there is a wealth of taxes that you need to pay. But what do they go towards? We all know that our taxes go to the [...]
Can you start a business straight out of school? A few weeks ago, we spoke about the pros and cons of earning a degree before you start a business. But what about if you know education just isn’t for you? There’s no one path in life that you have to follow. For some, school isn’t [...]
3 considerations to make before buying a business Buying a business marks an incredibly exciting moment in your career. Perhaps it’s your first foray into the business world. Or maybe you’re looking to expand your portfolio. Either way, buying a pre-existing business is often easier and cheaper than starting from scratch. But that isn’t to [...]