Do you Need a Senior Management Team?

A senior management team can help you run your business and make sure everything is working as it should. This can be very reassuring for you, although it is also going to cost a lot of money for your wage bill, as these people need to be very senior and experienced. So does the cost balance itself out? It largely depends on the nature of your business, but also on how much experience you have and how much of an active role you plan to take in running your business. For directors who don’t want to be involved in managing as well, a good senior management team is essential. You must make sure you trust the people you hire and that they have plenty of experience, or have worked for you for a long time. If you manage the business yourself, you may not need a management team in place.

Bringing in a Consultant to Restructure your Business

It’s the word that no business owner of employee likes – restructuring. It will often hint at redundancies, which is why people tend to shy away from it. However, this isn’t necessarily the case, and even if it is, redundancies can sometimes be necessary. You must always be pragmatic and do what is right for your business, and if that means redundancies, then sadly that is what you must indeed do. A business consultant can help you make important decisions about your business, such as how to restructure and claw back some money where needed. It is always advisable to take financial and business advice if you are looking for ways to improve efficiencies, as somebody impartial will be able to see things differently to you. Business consultants are also trained in figures and finances, so they will be able to give you plenty of logical advice for your business...

Start Up Loan Opportunities For The Creative Industry

If you are starting up a business in the creative industry and are aged between 18-30 needing a loan in Scotland, then you should have a look at The Prince’s Trust and their Youth Business Scotland programme. If you meet the criteria, then you can try and apply for a loan up to £5000. You also may be able to receive a grant of £1000, and also receive support, advice, networking opportunities, finance management advice etc. Businesses that are deemed as eligible for support; Music Literature Publishing Film/Video Product Design (Craft, Fashion and Textiles) Digital Media Performing Arts (theatre, dance) Visual Artists/Galleries Community Arts Have a look at the Princes Trust’s website for more information.

Green Business Schemes

For many businesses, going green presents some truly great benefits. You have the ability to get tax deductions for demonstrating an awareness of your impact on the ecology, and of course, you are also likely to help improve the impressions your brand creates in the eyes of the public at large. Depending upon how much you reduce your carbon footprint by, you’re likely going to receive different amounts of money through tax deductions. If you’re from one industrial sector or another, this may also cause some changes to how much you receive for your efforts. So, a business in the industrial industry (known for being huge contributors of carbon dioxide and other greenhouse gases) which manages to significantly reduce their carbon footprint will likely receive more money than most other businesses. Even with all of these potential benefits for your efforts, there is real social and ecological benefit to taking...

Government Business Funding

There are many different government schemes for businesses and that doesn’t just relate to loans; grants are also obtainable. A grant is essentially money that doesn’t need to be paid back, it’s ‘granted’ to you, and some government-backed grants can be offered if you’re business is supporting society. You don’t necessarily have to be a charity organisation to acquire grants, and grants can be given out for your businesses involvement in a good cause. If your company is environmentally friendly and one of your main aims is to raise awareness, than grants can be awarded to your business for its efforts, and this is just one example. There are many possibilities out there, but it must be said that they’re not handed out lightly. If your business ffers apprenticeship positions and helps young individual find jobs and develop, then you may come away with a recognition award, which usually means...

Crowd Funding For Business

As a start-up business or a business looking to expand you will take into account different sources of finance. Crowd funding could be an option for you. It offers an alternative method of sourcing capital to conventional methods such loans that may be unfamiliar to some. Crowd funding is the method whereby you pitch your idea and research to a community (usually online platforms) to ask them for a pledge to your project. You would offer that community a carefully considered reward depending on how much they pledge and fulfil upon completion. The reward would then have to be given to the people who have given the pledge within a few months. Things that one needs to consider when looking into crowd funding from the onset is that it is an all or nothing process. If you have your calculations incorrect or get your target wrong you could end up...