Where a sole trader, partnership or LLP has established a significant value for the goodwill of their business it was possible up until 3 December 2014 to transfer that goodwill to a limited company and pay just 10% capital gains tax by claiming entrepreneurs’ relief. The former owner(s) could then draw down on the loan […]
Cross-Selling more effectively
Customer retention and cross-selling is important in any industry, yet it’s frequently overlooked. Here are a few tips to help you to cross-sell more products and services to your existing customers. The cross-sell Amazon.com attributes up to 35% of its revenue to cross-selling. When purchasing you will see both the “frequently bought together” and “customers […]
Talent Management Strategy
A good talent management strategy is all about acquiring, hiring and retaining talented employees. It involves linking various components of the business together to develop those people likely to drive future business growth. The responsibilities should be spread throughout human resources, training, and selected management sponsors. Talent Management requires a mindset that goes beyond just […]
SMEs: More likely to apply for Alternative Funding
According to the Federation of Small Businesses (“FSB”) one in ten small businesses applied for alternative finance in the first Quarter of 2016. The percentage of small businesses who successfully apply for credit has also risen from 45% in 2012 to 63% in the above Quarter. The FSB continues to have the view however that […]
How high should you aim with your Business Strategy?
Every business owner or manager knows that in order to succeed and grow the business, some big thinking is often required. But how high should you aim? The process of setting strategic business objectives is harder than it looks. It takes a lot more than setting stretched goals to actually see any real achievement, […]
Key Account Management
Anyone in business will tell you that it is easier and cheaper to sell more products and services to an existing client than it is to go out and find a new client. Key Account Management or “KAM” is all about focusing on your key existing clients – your very best customers. In theory, this […]
First impressions count
You only have one chance to make a good first impression. Here are a few tips to help you to make a good first impression with new clients, contacts and during business meetings. Focus Being known as a ‘natural’ at interpersonal communication is not just a gift that a select few enjoy. We can all […]
Exit Strategy
Building a good business is one thing. Knowing when it is time to sell it is an entirely different matter. For many entrepreneurs it’s not enough to build a business, they have to make sure to have an exit strategy, a way to get the money back out. Depending on who you are and what […]
Is outsourcing right for your business?
Social selling Outsourcing is not just a strategic option for large international corporations, small and medium sized firms can benefit too from the efficiency, functionality and cost savings of outsourcing. Outsourcing simply means “contracting out” various functions of your business. A common misconception is that outsourcing is always done overseas. Moving your IT helpdesk to […]