Productivity

When you want to make your business official, it can be much easier than you think to register your own company – you can now do this quite quickly and simply online through a formations service, such as Capital Office, and you can be up and running within the day!We can take care of all the official notification work for you, such as registering your company with the registrar of companies at Companies House. All you have to is to decide what structure your company is going to take, and then follow our simple step by step process online to get registered.Here in the UK we have a choice of different legal structures that your company can take. Which one you choose for your company will depend on how you wish to operate. By far the most popular types of business formations are companies limited by shares, and sole traders. However, these two options carry some rules and regulations that need to be adhered to that you should be made aware of.For your information we have listed below the primary differences between these two structures, so you can see which one would be more suited to your type of business.

Limited Liability

For your greater protection it would make sense to register your business as a company limited by shares. This is because if the worst should happen, each shareholder or member of the company would only ever be liable to pay what their individual shares are worth. For example, if you and three friends or family members where shareholders in your company, and you each owned a share at just £1.00 each, then you would only be liable to pay £1.00 each should your company go bust. Their personal finances will remain unaffected and protected.This is not the case for a sole trader however. Because there is no distinction between a sole trader and their business, they would be held entirely liable for all debts run up by their business. So if the worst should happen and the business went bust, the sole trader would have to pay out costs from their own pocket. This can often be catastrophic as the sole trader would have to use their own personal finances to cover costs, and this can impact greatly on an individuals ability to keep up with their mortgage payments, bank overdrafts and credit card repayments.So you can see from the two examples listed above why it makes perfect sense to register your company with Your Company Formations and the process is very easy to complete. In fact, all you will need for your company formation process are the following details:

Your Company Name

What you choose to officially name your own company is down to personal choice, however under The Business Names Act 1985, you must make sure that the name you choose is not already owned by another UK registered company. It is worth doing an internet search to see if your preferred company name pops up as already being used by someone else.There are also some words that you cannot use within your company name without express permission, and obviously names that contain sensitive words such as swear words or profanities will not be acceptable by Companies House. Also use of words like “association”, “group”, “federation” and similar words within your company name is prohibited.If you are really confused about coming up with a suitable name for your company, then one of our friendly customer service team members will be on hand to help and guide you.

Registered Office – Your Company’s Official Address

This address will be your main company office base, and can be any UK address that you use. Most small businesses will operate and trade from just one address, but your company does not need to trade from the address you choose as your registered office.The address you choose to register should be an address that is staffed frequently so that all important and essential mail coming from HMRC and Companies House will be attended to right away. This address will also appear on the public register, so anyone looking for your company address will see your registered office address on display. Because your registered office address will be on display to the public, like many other company directors, you may prefer not to register your home address as your registered office.Capital Office offers a registered address service where you can have your registered office listed, and our mail-forwarding service will ensure that any mail sent to you at this address is sent on to an address of your choice promptly. You can find out more information about our registered address service on our website.

Your Company Directors

When you form your company, you can register as many directors as you wish, but you need at least one person to be appointed as a director at the time of formation. The directors are the people who run your company, so if you want to form a company and run it with three of your friends for example, you can register yourself and your three friends as company directors. This does not mean that you cannot add any more directors further down the line, so in the future you can appoint more directors if you want to.To appoint a director you need the following information from them: Their full name, their occupation, date of birth, nationality, home address, and their service address. The service address is the official address that is listed on the public register, in a similar way to the registered office. Again, many directors may not want their home address appearing on the public register, so they may choose to register their service address as the business address.

Your Shareholder details

Shareholders are the people who actually own the company through their shares. When you first form your company, you can form it with just one single shareholder if you so choose. The shareholder can also be a company director, so you can form your own company with just one person who takes on the role of director and shareholder.To register your shareholder(s) you will need the following information from them: Full name, service address, town of birth, eye colour, phone number, number of shares to be held, currency of shares, value of shares

The Memorandum and Articles of Association

Put simply, these documents outline how you will be running your company. There are many templates you can use to draw up your documents, and Capital Office can provide free support and advice via telephone, email and our website chat portal to help you with this if you need it.All companies are formed at Companies House through the UK’s registrar of companies. You can register your business online directly with them for a £15 fee. Many people new to company formations find it much easier to register through a formation company such as ourselves, and our formations packages start from as little as £10.99 – including the fee from Companies House!So you can see from the information above just how quick and easy it is to register your own company. The process is so easy that you can be up and running after a few short hours.

Thanks to globalisation and cutting edge technologies, more and more businesses are opening a new breed of offices.Alongside this, more and more workers are working in a different point in the central office. In fact, more than 65 percent of people in large companies are in a venue away from the main building. This happens more and more as businesses increase in number worldwide. Although these sites are sometimes called remote offices in the world of networking, they should not be considered "remote". Instead, each should operate as its own separate headquarters. So how is it best to go about implementing a successful remote office?

Communication

Communication with employees should happen in a transparent manner as if they were actually just next door, and the information should be passed reliably and accurately, regardless of where the office is located. Therefore, this leads to all offices being connected to the central office in an efficient and stable manner. If there is a poor interconnection between headquarters and these remote offices, information will be poor and with many technical problems. An example would be if each office had different types of software and hardware, or if the tools are not properly updated. This could cause problems of having a greater maintenance cost, as well as lost productivity, due to the incompatibility of the computers and network problems.

Technology

If the technology is not optimally integrated, a company may also have trouble recovering from system failures that can pose big difficulties for the remote host. Many of these remote offices do not have their own technical support team, which could take care of these problems. Fortunately there are many tools to help the integration of these remote offices to a central location, no matter how big the businesses are.Every company has its own technical needs. These needs make a big difference on exactly what it takes to integrate these remote offices. There are some universal steps that any business can continue during the process: Assess needs, seek help from IT experts, update and improve technology based on expert recommendations, and ultimately ensure security and centralised data storage. When you are assessing the needs of the company, first ask employees that have problems accessing this. This will help identify the specific problems of the remote site. Once you have the general idea of ​​improvement, it is time to enlist the help of a technical consultation or IT support that will show the strengths and weaknesses in the integration plan.

Upgrade

With this information in mind, you can begin to upgrade and improve systems, allowing the business to operate more smoothly. Updating and optimising the network will be one of the points in the process. You can also consider adding new technologies like VoIP systems and video conferencing to bring even more communication to your remote office. The voIP or voice over IP, can make and receive calls from anywhere within the company. For example, a receptionist at a remote site can receive a call and transfer it to another person, even to someone who is in another office or at home. This is done transparently to all, which makes this conversation perfect for a new or growing company. The same goes for video conferencing, which delivers good visibility between sites.

Data Check

The last step to integrating a remote office is to ensure all data is stored correctly. Maybe one of the biggest mistakes a company can make when it deploys remote offices is to allow the data to propagate unchecked by all the offices, rather than centralise it, where it can be shared, stored and insured by backups. In the worst case, the propagated data is unchecked, potentially leading to a problem for the business in case of a large glitch. Instead of keeping important data stored in computers and servers in each of the offices, a more integrated solution is to group and store the data on a central server in a given site.Servers do not have to be in the same building where the main office is, but perhaps in other facilities. The important part is that technical support group need only ensure, maintain and create backups to a single location. Employees working in the same building, can access their own data using the LAN locally or via Wi-Fi. In remote offices, employees can access their data through systems like Terminal Server, which allows users to connect remotely to other systems as if they were in the same place. Another important tool is the use of VPN, which allows employees to access and retrieve data from outside the office while the communication between the computer and the central server remains safe.

Running a physical office creates considerable expenditure in the budget of novice entrepreneurs. Sometimes, it is even an unnecessary luxury to entrepreneurs who have spent years in the market. However, just because you may be an employee or owner of an SME, it doesn’t necessarily require you to have a physical space to run and manage your business from. That's why many new business owners are turning up to virtual offices.The advances in technology and communication channels have enabled hundreds of people to work from home and to manage business in the comfort of their homes or other places, including parks and cafes. However, although this option can provide numerous benefits (especially in reducing costs and travel time), it also has some disadvantages. If it is not given to good use, it may result in an unprofessional image that can project the entrepreneur in a negative light to potential customers and investors.Purchasing a virtual office gets you a personalised telephone number and professional PA to answer your customers, handling correspondence and most importantly a business mail forwarding address. It is generally believed that being an SME or entrepreneur means you cannot have a first rate office, but thanks to this system, added value is implemented onto your business and can be achieved at very affordable prices.You can enjoy an hour of sleep and avoid morning traffic chaos and a more relaxed approach to your workplace attitude. In the past this was not possible, and you had to move every day to a fixed place to use computers, telephones and other office equipment to keep in touch with customers and employees, whereas today there are attractive alternatives to streamline your work routine.As a measure to better control costs, some companies have chosen to engage the services of a virtual office. The UK has not lagged behind in this trend, which is driven by the rapid development of the service sector and the dynamic growth of the economy.

Here are some advantages of having a virtual office:

1. Save up to 50 percent of the initial capital of consuming the rent of an office or remodelling an owned office. Therefore, it is ideal for start-ups.
2. Suits all budgets and professions. With flexible monthly payment plans, the virtual option is easy to manage and control.
3. It has a commercial address where you can receive mail and which can be printed on your cards or letters. It also has secretarial answering service under the name of your company which can link your calls to your phone or another phone.
4. When you have a work meeting, you’ll find all the necessary elements to provide a professional image as a boardroom, internet, projectors, coffee service and other amenities will be provided for.
5. It reduces operating costs because a secretary and cleaning staff, for example, are already included in the cost.
6. It will often have a beneficial location because regular virtual offices are located in the most important and strategic points of the city.
7. It gives you the ability to interact with other entrepreneurs and there will also be plenty of chances for you to form a strategic alliance with your virtual neighbours.

But like everything, there are also disadvantages:

Communication: While the tools of today are safe to make smooth communication, there is nothing faster than the conversation of person to person.Absolute dependence on internet: If the internet becomes disconnected for whatever reason, then it is practically impossible to work.Lack of meeting space: Sometimes it is necessary to have a place to meet with clients. This helps to improve the image of the company, at least in the eyes of the more traditional companies.These are some of the issues that come to mind broadly, however today’s climate means we must all adjust our financial belts and so a virtual office represents a major cost-cutting solution.Obviously not all projects can run through a virtual office, such as a mandatory video blog in need of a fixed place of work, at least for the recordings.

Hybrid Possibility

In conclusion, the virtual office is a good choice, although there is a third possibility which is a hybrid between the two possibilities. Here you gain the best of both models, i.e. have a physical office with a small workgroup and secondly, a distributed group. A computer model that comes to mind is to have all those responsible for areas installed in an office, so that each manages their team virtually. In that way, the corporation would be closely related and would be able to make decisions more quickly on the virtual model. As well as the commercial sector, you would be able to take steps in physical space, such as arranging meetings, organising actions, etc.

For any business, the workplace is a key element and can make all the difference in the launch of a company.The economic crisis of 2008 changed the way businesses understand property rental services. There were many companies that had to cut staff. The space they had left was very large and it’s just not a viable option to continue paying, say 400 square metres for five employees.Therefore, the rent of offices, both physical and virtual, became alternatives for small and medium enterprises (SMEs) and companies in need of restructuring, against a background of uncertainty meant that they could not sign a five-year contract with a letting agent.

Virtual or physical?

There needn’t be a clash between traditional and virtual office. Instead, there should be an understanding of the needs of each company to know what your best option is.Virtual offices have gained ground, with estimates calculating a 20% growth in the segment in 2013.A virtual space can develop work from home or in a place not so corporate and a worker can stick with that model as long as the customer requires, in addition to the support of corporate image and fiscal direction.It is a simple product, very basic, which is uniquely affordable, especially to those that are just starting out in the business world.This is a solution in which the professional can work from home, but has a backup that consists of a phone line answered by an operator (receptionist), and also involves a corporate address for correspondence and meeting rooms to serve clients and presentations.You can do all this and remain within the space of a physical office (normally in a business centre) or a space allocated for the days that you need in a 24/7 format.There has been a huge growth in virtual, serviced office space springing up around the UK in the form of business centres. However, it is not always the beginners who are starting to see the advantages.Companies in information technology (IT) such as IBM, HP and Google are more willing to explore new ways to work alongside physical offices for rent, but also with flexibility for employees.Many of these large corporate companies explore ways of moving their various teams to business centres, so as not to affect productivity. Costs are kept low, and the teams can go about their business without distraction and report back when necessary.

When to seek offices?

Upon reaching more than 12 or 15 people growth, then perhaps it is time to seek the conventional space.That does not mean that companies do not reach more than 15 employees before seeking a conventional office though. Indeed, there are some customers with over 50 work units and remain virtual.As already stated, it can be a major transnational corporation, and with them they have an address, a local number and even a legal address. Another key factor in the election in the office rental is the time scale, be it short or long term.This factor depends on the financial decision you want the corporate run. It may be a company that is opening market and has an operation involving 50 people, but are still not certain how long they will stay for.

3 Keys your SME should know

Outsourced. This refers to a business delegating administrative activities for your SME. Thus, costs for services such as solicitors or accountants will be significantly reduced.Image. Do not underestimate the power of the corporate image for your SME. Whatever size of the business, the image speaks of responsibility, commitment and interest.Flexibility. The hours in the office does not purely mean productivity. We recommend finding ways to offer flexibility so that employees have a better quality of life and, therefore, lead more productive jobs.

An upward trend

Working remotely, home-working or teleworking is becoming a massive trend. Being able to provide services virtually is offering so much flexibility, where before there was usually only one option. A Reuters-sponsored study says that 34% of employees surveyed would virtually work full time, and that 65% felt that this approach allowed them to have more control over their working lives. Businesses too felt that it was likely to enhance working conditions and operating costs vs. productivity, and therefore more and more companies would make use of this way of working.As with any project, there are elements that must be considered and the same survey points out: 62% of employees surveyed believed that they would feel socially isolated. 50% thought that the absence of face to face interaction could damage their likelihood of promotion. 53% believe that working from home might increase the possibility of family conflict by the imperceptible line between work and a private space. The survey was conducted among 11,283 people in 24 countries and their results are interesting. What do you think? Would you implement telework in your business?

Most consumers who make ​​purchases aren't considered to have made any ​​significant savings through promotions.The reason? Most of the "promotions" consisted of card payments consisting of months without interest. Only 0.6 percent of buyers saw more than 50 percent savings.Although implementing promotions that do not bring significant benefits to consumers in the short can attract and increase sales; in the long term there is the risk of negatively affecting the image of your company and thereby avoiding repurchases and struggling to generate loyalty.To solve this problem, the key is to create valuable to your target consumer promotions that also suit the demands of digital commerce. This is possible if you have the following considerations in mind:

Watch your advertising discounts

Avoid lying at all costs to your customers to communicate discounts and promotions that you offer them. If the advertising message is inconsistent with promotions that are on your site, the bounce rate or percentage of abandonment after seeing a single page will increase, hurting the metrics of your site in general.It also uses different and less saturated platforms to advertise your promotion channels. For online shops in particular, they are ideal for the generation and sale of coupons and discount codes. Psychologically, consumers are confident that a discount is a legitimate reduction of the original price. Coupons and discount codes help reinforce this idea and discourage bargain hunting in the shops of other competitors.

Focus on customer satisfaction

Although the success of your business will provide a great opportunity to increase the volume of sales of your business, making your customers a priority will need the implementation of certain tactics. When creating your plan of promotions, it establishes a final objective to meet and exceed the expectations of your target consumer.This approach could even provide your business profitability during the remainder of the year, for generating a truly valuable promotion; you will be promoting customer retention in the long term.

Offer valuable promotions and discounts

Offering mediocre consumer promotions can foster a negative image of your business; chances are, that you will be the victim of negative reviews by other means (such as social networking) and they can strongly influence the opinion of potential customers.However, it is not necessary for your company to go bankrupt in order to offer valued promotions. An offer is valuable when solving the problems, needs and interests of your target consumer. Based on your needs during your marketing campaign, analyse what your customers look for this time of year : what will Christmas shoppers want in advance, for example? Should you perform large volume purchases for the rest of year? Should you make the payment of the product or service you offer on deferred amounts? Finding discounts on specific products?To obtain accurate answers, it is best to create a poll. If your budget allows, you could conducted a market survey among a significant potential sample and repeat customers. You can also use free tools like social networks or surveys of users of your online store site. Remember to offer some type of incentive to encourage them to respond.

Align the deals with your products or services

Promotion offers benefits aligned to the consumer, the business and also complements the products or services you offer. In this regard, aligned promotions are those that provide an additional benefit to customer acquisitions as a reward. An example of these developments for success is the gifts on the purchase of goods or services and the payment of loyalty point’s programs and frequent purchases. In general, these developments do not incur high costs for businesses and also they generate a return of high investment.

Focus your promotions

Before making your promotions, you should know your customers in depth: their personality, interests and needs. One of the great advantages of online trading is the possibility of using Business Intelligence tools to obtain this information through the website of your shop and grouping the types of customers who visit and shop at your online store. This allows you to create personalised promotions, consistent with the interests of each type of customer, increasing the effectiveness of your promotions.Keeping in mind these points will help you choose promotions that will provide valuable benefits to your customers, which will result in a positive impact on your online store for the proper completion and, more importantly, in the long run.

The world's capital of technology start-ups teach that we must learn to rely on instinct.Successful executives are never guided by the interns. If you want to learn to be the best in a discipline, you must approach the experts. When it comes to successful business, connoisseurs are in the technology industry.The project has gained strength worldwide, but its centre of excellence remains, without doubt, in Silicon Valley. The capital of innovation with regards to investment start-ups created legendary companies such as Apple, Cisco, Facebook, Google, and Intel.Everyday companies like PayPal, Netflix, Uber, Tesla, and Airbnb challenge the status quo, transforming old industries and changing the lives of people in profound ways.If you are interested in establishing, growing, and running a start-up, the best advice you can take is to talk to experts. Here are some lessons to be gained from Silicon Valley.

1.Software is eating the world.

Marc Andreessen, co-founder of Netscape, said it best: the programs are transforming the competitive environment in almost every industry on the planet. The lesson for all to learn when managing start-up programs is to find a partner that you can program.

2.There are no working hours.

If you want to succeed as an entrepreneur, you must be prepared to be aware of your business 24 hours a day, seven days a week. This is the main reason why you should love what you do. Otherwise, you will not survive the brutal schedules, workloads, and the challenges of building a real business.

3.No man is alone.

Steve Jobs and Steve Wozniak of Apple, Andy Grove and Gordon Moore of Intel—the world of technology is full of stories of powerful partners and large workgroups. The Solopreneurs rarely achieve the same level of success. You need to support and encourage your partners.

4.You cannot grow without capital.

A common mistake many start-ups and SMEs make is running out of cash. Like many companies, Facebook, WhatsApp, and Alibaba began with little money but soon needed investment to grow. Remember this equation: Passion + investment = start-up founders. Trying to grow your business without enough money, will quickly kill off your ambitions.

5.No one will do anything for you.

You may have a great idea but have zero chance of success unless you get up, get to work, and get your product into the hands of people.

6.The customer experience is sacred.

Consumer satisfaction generates commitment and traction. That is what prompted the growth of Tivo, Uber, and iPhone. It is also where many business opportunities arise. Mac became a successful product thanks to its graphical interface, and the Netscape browser is responsible for the initial success of the Internet.

7.Your first thought is not sacred.

Companies do not always achieve success with their first business idea. Twitter was invented as an alternative product of start-up Odeo. Furthermore, the market research of the internet was highly fragmented when Google decided to take a gamble on AdWords in October 2000. That was what gave them financial success, not the search engine itself.

8. Differentiate or Die.

There is a popular belief that it is easier to make quick business on the Internet with mobile platforms. Sure, the web has equalled the ground, but not just for you. It also improved the chances of other entrepreneurs, so the competition is brutal. Today more than ever, your product must be better than the other options on the market if you want to succeed.

9.Trust your instincts.

Every start-up should focus on one priority at a time. First is to demonstrate the concept, then launch the product, win the audience's attention, and begin to grow. Of course, you must raise capital on the fly, but you must also learn to focus and say no when necessary. That said, when the right opportunity arises, you should be able to recognise and to know how to say yes when necessary.How can you tell the difference between times when you have to slow down and when you must move forward? You have to learn to trust your gut. Behind the success of each start-up is a founding member or two who had the courage to face the unknown and take the leap. That is the essence of a Silicon Valley-style venture.

You have an idea that excites you?

You've talked to friends and family, and you're even thinking about the possibility of quitting your job to become an entrepreneur. You are about to establish your company, but you need to achieve success with capital. You cannot invest all the money yourself.Your natural inclination is to go out and seek funding as quickly as possible to take advantage of the momentum of your business. That level of passion and enthusiasm is admirable, but if you start looking for financing before you are ready, you could waste time and become disappointed.Before seeking financing, either by an angel investor, venture capital, or platform crowdfunding, you should make sure you meet the following requirements.

• Have a complete business plan

This is the first item on the list because it is by far the most important. Without a business plan, you cannot have a business. It is the foundation on which your company must be based. You can have multiple points that will list below, but the important thing is to present a summary of what your business and how you plan to make money with it.

• Market research

This is the verifiable information that demonstrates the validity of your idea. Without it, your concept can only be good in theory. You may have to pay for this information or do research yourself, but you need a real number based to meet your growth potential.

• Financial Models

This should be a natural part of your business plan, so you should not underestimate the level of detail that some investors require in this section. You need spreadsheets with projected costs, acquisitions, profit margins, growth rates, and payback time. This is proof that your business actually can make money.

• Plans for one, three and five years

Do not focus exclusively on how to start a business. You need to project what growth in the early years. Most investors seek long-term solutions.

• Leads

Market research must prove that there is a theoretical customer base for your idea, but potential consumers move you toward financing. Investors are more interested in your product or service if you can gather several testimonies from prototype customers.

• Real Skill

You also need to make sure you can personally handle the early growth of your business. It's okay if you have industry experience, but if you're new, you should be sure to receive the necessary training. Study and prepare.

• Investment exciting

Potential investors like when you yourself have invested your business. Gather some money from your savings and recruit your family and friends to show investors that you already have some financial support.

• A mark

Typically, your brand must market your business before financing. However, a strong brand can sell the potential and character of your business. It is a demonstration of identity that can help present your idea.

• A goal

Before leaving to seek financing, you need to know exactly how much money you need and why. There is a big difference between saying, "I need money for my idea," and, "I need £4,000 for equipment, £1,000 for marketing and £2,000 for the first batch of products." The second idea shows a plan that you know exactly where the money will go.

• Reward

Last but not least, you must have a clear idea of when participants could expect a return on their investment. For platform crowdfunding, it can mean examples of products or rewards for different levels of investment.No matter if you need a point or two on the list, make sure you have most of these requirements before leaving to seek financing. If your idea resonates with people, you will have no problem getting the capital you need.

10 Strong Businesses in Economic Crises

I do not want to be alarmist, but even a stable economy may face times of lean. The world is surfing great uncertainties in this area today.The truth is that real entrepreneurs do not fear changing economic situations. However, they should be more careful when choosing their type of businesses. Constant consumption usually better withstands financial shock during a recession.Here's a list of industries and businesses that you can consider.

• Alcohol

Most companies built around beer and wine can avoid moments of crisis. The most expensive drinks tend to suffer, but the average price of spirits remains.This is due to a basic principle: people do not leave a real habit only because the outlook has darkened. If they really like, they will continue watching football with a cold beer. Consider a convenience store or a distributor.

• Cosmetics

It is much easier to enter the beauty industry than to sell alcohol. When the going gets tough, makeup may encourage many people. No matter what the reason, cosmetics support recessions well. There are many ways to get into the business, from distribution catalogues like Mary Kay or selling products online.

• Cinemas

Movie tickets tend to thrive in hard times. It is difficult to compete with large chains, as they have the rights to the most important premieres, but why not consider a room specialising in independent films that combines them with dinner? This can be successful in a small town.

• Healthcare

Healthcare is an industry that is very difficult to get into. However, it is also true that the Baby Boomers are nearing retirement and may be a growing market. Look for fresh ideas, but remember to stick to health laws in your country.

• Specialised food stores

Today there are many food trends and specialty food stores can become very popular in certain markets. For example, you can create a line of vegan products and sell them online with home delivery.

• Sweets and desserts

In the same way that people do not stop drinking because there is an economic crisis, they do not abandon things they like to eat. A few years ago, when the UK was in a sharp economic downturn, cupcakes became popular. You can combine this idea with the former or try sugar-free, vegan, or gluten-free desserts.

• Repair Shops

When the economy is in lean, people do not buy microwave ovens, refrigerators, or new cars; they repair what they already have. Check items in your local market that are not covered.

• Charity Shops and Flea Markets

In the same way that no new things are purchased during recessions, many people visit charity shops or flea markets looking for deals. Look for offers or specialise in retro items.

• Funeral services

Funeral services are sought even in the worst financial times. Even in the worst economic crises, there are two certainties: death and taxes.

• Tax Services

Good accountants know their way in difficult circumstances. In these times, people seek to preserve every pound they can, while the Treasury seeks to maintain order in taxes. This creates ideal conditions for tax advisory services.

If you plan to or already operate a business from home, consider these factors to successfully develop your company.

Enjoy what you do

For a project to be successful, it is important that you like it, believe in it, and enjoy it. When a person performs a job that excites them and makes every effort to get it right, the customer perceives this clearly. This, over time, becomes steady cash flow.

Look like a pro

If you are a selling beauty products, look flawless daily. If you market or represent a health food company, it is best to have a good figure and let people see you eat your products. This earns the trust of your prospects and will keep captive to those who already bought your products. No matter what you do, you should always have a good appearance. That makes the difference between a professional and someone who is just trying their luck, especially when you run your own business.

Prepare to be the best

If you work independently, subscribe to specialised publications and newsletters. Investigate how to develop your own strategy of sales, administration, marketing, and advertising. Analyse your competition.

Design and build your space

If you live in an apartment, for example, you do not have to invest huge amounts of money. Choose a separate space to have as your own, be it an office or warehouse.If you market your clothes or have a cosmetics case, it is best to keep that clean and tidy so that your customers feel they are dealing with a professional space. Do not forget to ask your family to respect your work area.

Take your office wherever you want

Virtual offices Services are a growing trend. Renting a smart phone with unlimited Internet will range from £30 to £80. This depends on the company that you contract with. Mini-computers or notebooks market for £500+ and are equipped with basic tools such as word processing, spreadsheets, and wireless Internet.

Customise your offer

One of the advantages of having a home business is that you have the ability to provide a service tailored to each person. Since you are delivering orders under the specified conditions, send emails announcing packages designed exclusively for each of your customers. Anything goes.

Add value to your offer

We are in an era where people value their time—a car wash in 15 minutes, 30 minutes or the pizza is free, and so on. Therefore, it is important that your current and potential customers see your products or services as the way to solve a problem and make life easier.

Sell only benefits

When you talk about your product or service, always begin with the testimony of your current customers. Market flyers, websites, blogs, newsletters, and social networking profiles to include feedback from your satisfied buyers.

Create personal ties

Make your customer feel that your concentration, effort, and creativity are on the project for which you were hired, just so you stop being a supplier to become an expert advisor.

Organise your time

One of the recurring problems of entrepreneurs operating from home is lacking a working method. Results: work late, delayed deliveries, holiday and time off at midnight. Hence the need to set working hours, as if they work for a company. You also have to design efficient processes to eliminate unnecessary steps in your daily operations.

Put a price on your work

If your product sells or lends items to catalogue services, calculate how much you invest to produce or generate your offer, then check the prices of your competitors and you'll have an idea of the correct rate. Even if you work on your own, remember: you're a professional, and your work has added value. When setting the price, you should consider your studies; you've invested in your preparation and accumulated experience to become the best.

Learn to collect

It seems obvious advice, but in practice not all know it. For starters, sell your products or offer your services among your acquaintances, friends, and family. Design collection strategies according to each profile. Set deadlines for receivables; they must be 15 to 30 days maximum. Remember that as you find new consumers, this work will be easier.

Make a self-sufficient business

A big mistake is to finance projects of your customers with your own resources. It is best to ask for a deposit—usually 50 percent of the total—and the rest in cash once the contract concludes or the goods are delivered. On the other hand, to make an inventory, the bank applies for a microcredit. Even one of your suppliers should always have enough units to meet the demand of your customers. Rule of thumb: one thing is the business money, another your money and another destined to your home.

Design multiple forms of payment

You will not have to go to the office or home to charge your customers. One option is to open a bank account intended only for revenue of your business. Your customers can deposit or make a transfer via electronic banking. Another way to ensure steady cash flow in your business is to design different payment schemes, for example, weekly, biweekly, or monthly payments. It is better to not give extensions, but this is just the exception, not the rule.

Pay your taxes

Receipts of fees can work for large companies. Just do not forget to pay your taxes on time and at the end of the fiscal year, you can even get a refund for what you are due. To streamline this task, hire the services of an accountant to help you keep your accounts in order.

With a virtual office, you can operate your business from virtually anywhere.All you need is a laptop and an internet connection. A virtual office is an online work space that allows you to manage business using an internet connection and take advantage of different communication technologies, such as chat, video conferencing, and fax.

Some tips for opening a virtual office:

• Define the needs of your business. This is essential before you look for the elements to create your virtual office. For example, any computer you choose to use must have enough memory and be quick enough to cover all the tasks that you require. Video conferencing is also vital to a virtual office, so a built in camera and a quality microphone are must haves.
• Make a list of activities that would usually happen in a traditional office. This list may include conferences or meetings, faxing, making copies, using the phone, or having an assistant.
• Investigate online services that help create virtual offices. Decide whether you should design your own virtual office or whether it is better to hire a service. This decision may be based primarily on the requirements and needs of your business. If you need something very specific, it may be better to do your own office. If your needs are more general, you should hire a services and investigate different types of virtual offices.
• Create an email account for your business.
• Find out which service best fits your needs. Many businesses need to receive and send faxes. As an extra tip, you can use portable scanners if you're a person in constant motion.
• Investigate different Internet service options. Choosing a service depends on where you walk or stand most of the time.
• Explore the options of a smartphone. If you decide to use a phone, research to find the best one and an appropriate service provider.
• Know the options for sharing information like images or documents.
• Investigate the option of a virtual assistant if your business requires the use of one.
• After identifying your needs, establish a website so customers can contact you.

Advantages of a Virtual Office Model

In this section, we present the advantages of virtual offices, a new concept that has facilitated and revolutionised business.Virtual offices are advantageous for both small businesses and businesses that are just beginning. Small start-up companies may want to exhibit the highest levels of professionalism through expensive offices in excellent locations in the city, and thanks to virtual offices, all this can be achieved without paying the high cost of rent.tThose who offer space for a virtual office also offer different virtual office services. This way, all your business can be conducted from the comfort of your home.

The cost is minimal compared to a fixed office.

It will also provide an address in a good location so you can have contact with your customers, suppliers, and other outsiders. You can give your virtual office address your customers and be operating all your business from home in a totally different direction.The virtual office model works very well for those who do not need a fixed office or expensive installations. They can have the same level of professionalism as any other business by hiring the services of a virtual office.A typical virtual office includes: an address located in a good area; a professional receptionist who answers calls to be redirected to your phone, manages e-mail, receives and sends emails, and delivers messages that need to be presented personally; and a videoconferencing room.

Virtual offices can be helpful for both small businesses and professionals.

Types of companies using virtual offices include: financial consultants, brokers, mortgage advisors, marketing agencies, advertising agencies, architects, lawyers, accountants, writers, analysts, and people working from home.With a virtual office, all employees, associates, and partners can work from their homes. They will be registered in the virtual office software to access personalized services and make reservations.Facilities for people who use virtual offices strengthen customer relationships and business management. For those who are always constantly moving to conduct business, make the most of this model office by synchronising schedules before making a reservation.In conclusion, the concept of a virtual office is very advantageous for business owners who want to reduce their expenses or who may not find physical spaces necessary when people run their business from home. This concept is growing rapidly and builds a great development for modern business.

Opening your own business is a challenge that requires motivation, determination, and discipline. Before starting any endeavour, you should consider factors that will affect the decision before committing to starting a business.Ask yourself the following 10 questions to lay the foundation for the success of your business:

Do I have what it takes to be a business owner?

Being an entrepreneur is not a job but a lifestyle. It not only takes commitment, passion, and conviction for your enterprise, but also skills, energy, money, staff, and knowledge to start a business.It will be important to know your strengths and turn them into engine of your business. It is imperative that you feel supported by your family, as many successful entrepreneurs have recognised the support and encouragement they receive from their families as a key to business success.

Why do I want to start a new business?

Either because you had an innovative idea, because you want to enhance an existing service, or because you want to take control of your life. You need to define what you want to do and what is the end. One of the essential characteristics of successful entrepreneurs is that they all wanted to change the world, improving it with their business idea. In any case, you should be prepared to spend time, money, and resources to start your business.

Is my idea feasible/viable?

Identify the business you want to start. Describe the product or service you're trying to sell. To be on the right path, enter your product or service in a market where demand exceeds supply, fill an unmet need, or be competitive based on quality, price, and location.

Who will be part of the business?

Before adding people to your project, you should be clear whether it is really appropriate, if skills are complementary, and if you can work together. It is important that the entrepreneurial team is aligned in objectives and expectations to be able to pass through difficulties. After all, the main factor that will determine the success or failure of an enterprise is the people who run it later.

What is my market potential?

Before investing time and money in the business, know your market. To acquire knowledge of the market you have to analyse it. The market analysis is to obtain information about potential customers and determine the demand for your product or service. The more information you obtain, the better you can promote your business and the better your opportunities to capture market share.

What is a business plan and why do I need one?

Knowing where we are going and how we will get there is essential to guide us in difficult times. The business plan is a basic tool of management, acting as a compass to lead. This plan establishes a commitment to the actions of the company, allows tracing operations, the organisation of people, material resources, tasks to be carried out, and how results will be measured.

How much money do I need to start my business?

When companies are taking their first steps, they require significant resources. Entrepreneurs must first define up to how much they are willing to risk, whether in money, time, contacts, or resource utilisation. You must consider that future business will not generate immediate returns and accounts must ensure that you have sufficient financial reserves to keep your family and business for eight months at least.

How can I finance my business?

The most common way is to use equity or borrow money from relatives and/or friends. Another way is to borrow money from the bank or other financial institutions. Another option is a partner who wants to share the business risk. If you go to investors, make sure you stay with most of the shares. A final option is to participate in contests on business projects developed by government agencies, universities, or other means, where the best business idea is awarded with full or partial funding of the project.

Have I sought advice on the legal and accounting aspects of my business?

Be sure to select a solicitor and accountant to determine how you will manage your business, where you will situate you company, and how many employees are needed. You might need accounting software and other computer systems. You'll have to keep sufficient records to support your business in order to generate financial statements and file tax returns.

How do I incorporate my business?

Define which legal structure suits your company. The scenario will be different if you're planning to work as an independent contractor or as an entrepreneur and business owner, if you will join with family and friends, if you want to formally establish a partnership, a corporation, or other legal entity.Answering these questions will allow you to begin to launch your own business. They are basic and general points to start a business. As you evolve the business plan, you can think about more detailed aspects directly related to the type of business in particular.