Finding the funding

Despite the large amount of bank loans which are committed to helping increase the amount of start-up companies, the majority of the micro-businesses were started using personal savings and help from family and friends. PeoplePerHour’s research found that just over 10% of these start-ups were created using the money from people’s redundancy pay – proving that sometimes when one door shuts, another opens. A small number of these entrepreneurs also received a business grant to help them turn their idea into a reality.

Never too old to dream

The report also showed that around 60% of the individuals who decided to follow their dream and become their own boss were over 30 – with a surprising 11% more than 50 years old. What’s more, the ease of starting up a business has helped to draw more and more people into the idea, allowing them to develop their ideas into a tangible and affordable business plan.

The world at your fingertips

The majority of these new businesses are based online, where they can reach clients anywhere in the world and offer top rate services at lower rates thanks to the lack of overhead costs.

Chances are that you already own all you need in order to start up a business: a computer, an internet connection, knowledge of your industry, and some self-belief! You don’t need thousands in order to launch your business; just a bit of know-how to manage your business and the ability to think creatively when you need to. The internet gives you a huge range of potential clients, allowing you to offer your professional services to almost anyone. Plus, if you’re savvy with social media you can market your business for free!

Nothing but time

It sounds a bit cliché, but in order to have a successful business you need to put to the time in. Everything from your business plan to your services needs to be scrutinised, making sure it is up to the high standard you want people to expect from you. The best new businesses have the ability to troubleshoot and find potential issues before they crop up. . Think of how to make your offering unique – if you deliver a truly distinctive, quality service or product then people are much more likely to buy into your idea – helping your business to flourish.

When you’re starting up a small business, the most sensible thing you can do is to get the best business insurance. This doesn’t have to cost the Earth – let us help you to get the best cover at the lowest prices.

The post Starting a business could cost less than you think! appeared first on Small Business Blog.

Conversely, in a saturated market you’re going to need more than honest beef to make a lb; a viable business idea, impressive marketing strategy and a heap of common sense are paramount to making it work. So, put down that apron, put your thinking cap on and read our tips on getting that dream food business off the ground.

A marketable business strategy

Even if your speciality lasagne puts Nigella Lawson’s to shame, it’s not worth a dime without incredible business acumen to boot. Instead of spending weeks agonising over a thorough business strategy, use PEST and SWOT analysis to get a quick idea of whether or not your business is marketable and sustainable in the current economy.

Consider your target market and how best to reach the people who may be interested in your business – if you want to tap into the student market, don’t set up shop in the wealthiest area of the city etc.

Thinking outside the box

Thinking outside the box is one sure fire way to get people talking about your business. One butcher from Royston displayed the tongue in cheek banner ‘Only Fools Eat Horses’ in front of his shop front window and later reported a 20% increase in sales. Create a personality for your pizzeria/American diner/bakery and you’ll fare much better than a generically branded business.

Equally important, a great USP can set your business apart from the competition; quality is integral to a successful food business, for instance, if you use organic produce, shout about it in your menus and social media marketing.

Are you a people person?

If you’re just starting out, the chances are you’re going to be the star of the show and you know what that means – dealing with the great British public. You’ll be serving the public 24/7 and will need tenacity, charm and charisma to deal with every eventuality.

If your immediate reaction is to thrash anyone who rubs you up the wrong way, catering might not be the right industry for you. Conversely, if you put your heart and soul into producing good food, value and service, you’re unlikely to receive too many complaints.

Halve start-up costs

Starting your food business on a shoe string? Street food is the latest phenomenon to hit the food industry and with cheap overheads, few restrictions and little specialist knowledge required, it’s easy to see why.

One of the best things about street food businesses is the flexibility on location, for example, if you head to an area with low footfall, it’s easy enough to move on, whereas with a building based business, it’s far more complicated to up sticks and leave.

With a street food business, you’ll have the ability to be your own boss and generate instant profit, however you’ll need to be an extremely passionate and self-disciplined individual to make it a success.

No food business would be complete without a handy dose of business insurance at the ready, just in case it all goes a bit Pete Tong. At ConstructaQuote, we’ve got a number of competitive insurance policies on offer including small business insurance and liability insurance. Request a quote to learn more.

The post How to kick start your food business appeared first on Small Business Blog.

See, she’s delighted

It’s pretty boring harping on about the economy all the time. We’d all like a quad bike, or our very own bar and darts room in our homes (ok, perhaps not all of you), but for now, let’s start small. If you want to make your money go further, and you’d be frankly daft not to, then here are 5 everyday services which plenty of people pay for, but they really don’t need to.

Phone calls to businesses

There are still plenty of businesses using phone numbers with ‘08’ prefixes, some of which are not free to call. Ofcom has already signalled its intentions to standardise 0845 and 0800 call charges to make them free from mobiles, as well as calling for costs to other non-geographical codes to be clearer. In the meantime, the Say No to 0870 website provides a list of cheaper alternative phone lines.

Reclaiming PPI

An iterant saga which we hope is finally drawing to a close. If you’re still yet to reclaim mis-sold payment protection insurance, don’t give a third party 25 per cent of your money; keep it all for yourself. Do the leg-work yourself and all it will cost you is the cost of the stamp. Come on, you’ve already given enough of your hard earned money to The Man. And there are plenty of online guides to help, like this one from Money Saving Expert.

Medical advice

NHS Direct has undergone a relaunch and is now known as NHS 111. Calls to this rebranded service are free from both landlines and mobiles. The old service, which is still in place in certain areas, costs 5p a minute from a BT line, so if you’re feeling a bit crook, take your phone of the hook, and call NHS 111 – (they can have that tag line, because it’s awful.)

Debt advice

Paid debt advice is a clear example of an oxymoron, and not something anyone who is struggling with their personal finances should consider. There are a huge variety of reputable and free sources of debt advice out there including specialist debt charities such as StepChange, the Citizens Advice Bureau and commercial debt advisors who provide advice for free. Run a mile from anyone offering advice for an upfront fee.

Building a website

If you’re looking for a personal or business website, then this can be achieved simply and at no cost by using a free website builder. WordPress is currently the most effective option and provides an excellent method of promoting your start-up business or freelance operation. If you’re an established business, then unless you’re an expert you will be better paying for a professional developed website, but in the early days, WordPress provides all the functionality you need.

Here at ConstructaQuote, we don’t offer insurance for free, but we can save you money on the cost of your liability insurance or professional indemnity insurance. Request a quote to see just how much.

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Introjucing Facefood, Roath’s newest patisserie and juice bar. With an exhaustive list of juices and all manner of Turkish sweets on offer, the café has received both local and national press attention. Unfortunately, media moguls haven’t been flocking to sample a carrot and cucumber juice, but instead to gawp at the café’s sign which bears a striking resemblance to the almighty Facebook.

With a bright blue background and bold white lettering, the shop front sign comes complete with the all too familiar friend request, notification and speech mark logos. In fact, so similar is the Facefood design to Facebook, if we didn’t know any better we’d assume this was the official café.

Conversely, Facefood manager, Samir Bougaci is one person who seemed unfazed by the logo similarity: “We have not spoken with Facebook – we have not heard from them..[Facebook] is nothing to do with me,” he said.

Bougaci, originally from Algeria, admitted the design had attracted attention: “Business is going ok; lots of people have been coming in and taking pictures.”

A quick scan of Facebook’s terms and conditions reveal that combining the social giant’s logo with new artwork or replicating it in any way is an unacceptable breach of trademark policy.

Somewhat ironically, the media attention surrounding Facefood has filtered into social media platforms, with many taking to Twitter to voice their opinions. Opinions were divided, some tweeters saw the humorous side, some were confused about whether the two businesses were affiliated; however, the vast majority were just curious to see if and what steps Facebook would take.

When asked whether he thought the logo was similar to the almighty social giant, Bougaci appeared nonchalant: “It’s different from Facebook, it’s different words.”
This is not the first Facebook inspired business to hit the globe, in Turkey a waffle restaurant also called Facefood use a similar logo.

Since its inception in 2004, Facebook has amassed a billion users worldwide. The popular social media platform has since reported they are ‘looking into the matter’. Meanwhile, Bougaci is unlikely to be receiving a friend request notification from Mark Zuckerberg anytime soon, ooh er.

If you’re planning to pull a stunt like Bougaci, it’s probably best to have some decent business insurance in place in case you push your luck too far. If you’re looking for small business insurance or liability insurance, ConstructaQuote can provide you with a competitive quote in minutes.

The post Facefood – trademark infringement or a clever marketing idea? appeared first on Small Business Blog.

Back in the good old days

But after evidence came to light that some of the world’s biggest oil companies have been colluding and fixing petrol prices, motorists across Britain are coming to terms with the fact that they may actually have been paying over the odds for petrol and diesel for the last decade.

Investigators of the European Commission raided the offices of BP, Shell, Statoil and price-reporting agency Platts after they were tipped off that the companies had been distorting prices since 2002. And although the Commission emphasised that the raids didn’t prove the oil companies’ wrongdoing, they are currently cooperating with the investigation.

“The cost to businesses could run into billions”

Meanwhile, motorist groups and MPs have reacted with dismay. Quentin Wilson, from the petrol action group FairFuelUK, said he wasn’t surprised by the revelations.

He added: “The whole market needs much greater scrutiny. It’s opaque without any real accountability. If the allegations are true and the European Commission do find robust evidence, this is a price-fixing scandal that will make Libor look like overcharging in a sweet shop.

“And the actual cost to businesses and consumers over the last decade could if these allegations are true, run into many billions of pounds.”

Was the petrol market “working well”?

In the light of the new developments, many experts are also asking how the Office of Fair Trading, when investigating the petrol market in January, stated that it was “working well”. The Conservative MP for Harlow, Robert Halfon, said that the “limp-wristed, lettuce leaf” inquiry failed to spot what could all too easily be a national scandal – while he called for the oil companies to recompense the millions of motorists who have been hit by the price-fixing, if it is proved.

The Prime Minister’s Spokesman said it was would be “deeply worrying if prices have been driven up for consumers”, but stressed that the OFT investigation could only investigate petrol prices rather than the larger issue of oil prices that’s dealt with by the European Commission.

What does this mean for small businesses?

Unfortunately, in the short to medium term, this news will have little effect on petrol prices, although small businesses are currently enjoying a recent dip in prices. If the investigation does uncover illegal collusion between corporations, severe repercussions can be expected, as well as legislation to prevent the same thing happening again. To stay updated on the story as it continues to unravel, keep visiting us at ConstructaQuote.

Images: images of money, NedRichards.

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