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A survey from City Lit in London has revealed that Britain is a nation of wannabe Sir Alan Sugars and Jamal Edwards’, with a staggering 53% of Brits admitting that they wish they could start their own business. The research, however, went on to show how apprehension gets in the way of this...
UK microbusinesses spent almost 10 weeks working on financial admin last year, according to a new report. In Make Business Simple, Starling Bank surveyed 1,000 UK microbusinesses. The average firm clocked up 79 hours of labour a week, 15 of which go on finance admin tasks – a considerable 19%...
There are huge benefits to be gained by both sides of the mentoring relationship from both the mentee and the mentor, we’ve taken a look at just a few below. For the Mentee: Provides impartial advice and encouragement Develops a supportive relationship Assists with problem solving...
So, you’ve created a great product and you’re ready to scale. Whether you’re looking to land distribution with retailers or ambassadors, there’s one common need: to make sure who you’re selling to understands the incredible business opportunity that rests in working with you. To achieve this,...
1. Cash flow is more important to monitor than profits. Too many business leaders rely on the monthly profit and loss (P&L) statement to gauge cash flow. Your P&L is important, but it’s not an accurate picture of the cash flowing into and out of your business. The cash flow statement is...
Funding can be key to the success of a business but securing the deal can be daunting. As a new entrepreneur, drawing up a meticulous business plan is often just the beginning – it’s the investment that brings an idea to life. Achieving investment bridges the gap between having a great idea and...
It’s often said that you don’t know what you don’t know. As an aspiring entrepreneur, there will be many aspects of your journey that may catch you off guard or downright confuse you. While this is normal, some areas of ignorance can impact your chances of success. 1. Losing Sight Of The...
The North West has overtaken the South East to become the UK’s most entrepreneurial region outside of London, new figures suggest. Data from Start Up Loans – part of the British Business Bank – shows that the Government-backed programme has delivered 8,366 loans, providing over £65 million in...
Make that adversity work for you. Every entrepreneur knows what it’s like to face problems and adversity. It comes with the territory, and includes cash flow challenges, fickle customers, belligerent investors, and unpredictable economic downturns. The most effective entrepreneurs tackle these...
You’ve finally found your passion and launched that dream business only to find it challenging to get funding. You’re scratching your head because you have a solid business plan, yet the pounds aren’t rolling in. The truth is that potential investors look at you, the entrepreneur, as the...