The Crucial Role Of Training In Your Up-And-Coming Firm
Training can determine how far a business will go into the future and how well they’ll court success.
There’s no industry without training, no matter what sector you’re working in. It legitimises your operations and paints a picture of a brighter future also. Everything starts with an aptitude for education, and the smaller firms that understand that best are the ones to watch.
But what exactly makes training so crucial in up-and-coming firms today? Well, it could be any number of the following reasons…
Regulatory Compliance
Business must operate within the parameters of the law, which can be hard to follow and even harder to understand at times. Training can clear things up, however.
Many firms providing solo-regulated financial services must provide annual training to their staff on the Financial Conduct Authority’s “conduct rules”. The Senior Managers and Certification Regimen (SM&CR) first stage was introduced in December 2019, and firms needed to make changes at that time. The second stage should have introduced more changes in December 2020 a year later, but COVID-19 delayed things here.
Companies like Scott Robert have ample experience delivering Senior Managers SMCR training sessions to employees on these matters, bringing clarity with them and encouraging questions for anyone wanting to explore the subject further. Additionally, Scott Robert offers examples of proper conduct, and they tailor their content to each individual business they work with. Keeping up with regulatory deadlines adds a lot of pressure, but no matter what stage your firm is at, help is out there.
Business Protection
When training fulfils its core purpose and complies with regulations, smaller businesses have a far easier time.
This is because employees perform safer business practices. For example, staff who work with food need to know all the correct procedures for maintaining quality food storage conditions and practicing good hygiene in the workplace. To be found lacking here could make your company liable for things like lawsuits, fines, and even business closure and jail terms in the very worst scenarios.
Training isn’t just about the employee, but the wellbeing of an enterprise on a whole. It might seem like an obvious point to make, but having high standards in business is essential, and many firms make the mistake of thinking they can get by without them. Sufficient training proves otherwise.
Staff Retention
After developing their skillset, staff are then poised for further opportunities moving forward.
Staff training, though tedious at sometimes, can play an instrumental role in keeping employees happy on a long-term basis. The feeling of progressing a career is what many workers are constantly seeking, endeavouring to work for companies where they can flesh out their personal and professional development. When the demands of their role change, it can also refreshen their interest in their work.
Therefore, staff training could equate to staff retention on some level. After all, happier workers will be more likely to stick around at a company, and if multiple workers have been around since the start then everything will soon run like a well-oiled machine. Training tells employees that you’re willing to invest in their future and that you believe in them. It could be that they’ll return the favour by remaining loyal to your firm.
Can you really afford to leave your self-assessment until 28th February?
If you have income in the 19/20 tax year you are due to submit your self-assessment tax return – however, have you taken a sigh of relief and welcomed the news of no penalties for filing late or are you one of the millions yet to file your self-assessment due to being adversely affected by coronavirus?
Whatever your answer, if you are yet to file your self-assessment tax return it may pay to read on…
Having your self-assessment up to date has aided the self-employed with claiming government schemes, filing now may aid any further claims as and if they become available. GoSimpleTax look at filing your 19/20 tax return, the changes that have been made and what help is there for you.
HMRC recognised that there would be an increase in late filing of self-assessment tax returns due to the coronavirus pandemic and therefore updated their guidance to state that they would not be issuing fines for late self-assessment tax return submissions until 28th February 2021.
However, the deadline of 31st January remained for payments and any late payments will incur interest at 2.6%.
So, the deadline has been and gone you have not yet completed your tax return, let alone paid it for whatever reason you have. GoSimpleTax suggest you complete your self-assessment to know your tax liability and at least pay what you owe as soon as you can.
You do not have to submit it, however, if you have done it why wait?
I have filed, but I am struggling to pay
If you cannot pay as your income has been affected by coronavirus you may be able to pay your self-assessment tax bill via a payment plan. HMRC have an online application for Time to Pay.
You can spread the cost of your latest self-assessment bill if
- You owe £30,000 or less
- You do not have ay other payment plans or debts with HMRC
- Your tax returns are up to day
- It is less than 60 days after the payment deadline
You can see if you are eligible and apply for a payment plan online, you do not need to phone HMRC.
If you cannot access the online service or are not eligible you should call HMRC at your earliest convenience to discuss your situation. The self-assessment payment helpline is 0300 200 3822.
Think ahead for Making Tax Digital for Income Tax
With MTD for income tax over the horizon, it is mandated for 2023, begin converting to digital software. HMRC’s portal can be confusing – now is the perfect time to switch.
Digital software allows you to calculate your tax liability in real time if you chose to use it from April 2021 and update your finances weekly, monthly or quarterly. You can be one step ahead, plan your finances and spend more time concentrating on your business.
GoSimpleTax would suggest submitting your 20/21 tax return on 6th April and then utilising software to stay up to date with your finances. Updating your tax return in real time. You will always be one step ahead and with the uncertainty of the pandemic it pays to be, as you are likely to be ready to claim any future help the government may offer.
To conclude, if you are yet to file or pay your 19/20 tax return, we advise you take action soon as possible. Whether you need to file your return, pay your tax bill or to seek help from HMRC through the Time to Pay, the sooner you do it the less onerous any ramifications will be. Delaying is just putting off the inevitable – so seek help if you need it.
About GoSimpleTax
GoSimpleTax software submits directly to HMRC and is the solution for self-employed freelancers, sole traders and anyone with income outside of PAYE to log all their income and expenses. The software will provide you with hints and tips that could save you money on allowances and expenses you may have missed.
Try today for free – add up to five income and expense transactions per month and see your tax liability in real time at no cost to you. Pay only when you are ready to submit or use other key features such as receipt uploading.
Here’s Why It’s Definitely Time To Let Go Of The Office
Given how elastic the notion of time has become in 2020, you’d be forgiven for thinking that it’s only been a month or two since most of us started working from home (or that it’s been twelve years, for that matter). However, it has now been at least nine months since most of us packed up our laptops and grabbed our desk plant and headed for home to convert the corner of the living room by the best window into our new work station. As such, as we prepare ourselves to face whatever’s next in 2021, it’s important to commit to this new normal as best we can, which is why it’s time to finally give up that office space.
Things Are Going To Be Uncertain For A While Longer
Just because the vaccine has started rolling out, doesn’t mean that we’re going to be back to how things used to be by the end of January. If there’s one thing we’ve learned in 2020, it’s that there is a limit to how much we can control, and rolling lockdowns and tier changes, not to mention the never-ending uncertainty over Brexit, are going to continue to be part of our lives for a while longer. If you’re holding on to expensive office space because you’re expecting a quick change in the new year, we would recommend that you save yourself a lot of time and worry by cutting it loose.
You Don’t Have To Say Goodbye To All Your Equipment
For business owners, giving up office space can feel a little like an admission of defeat. After all, taking space for your own company is a bold statement, a declaration that you mean business and you’re here to stay. Parting ways with it doesn’t have to mean that you’re giving up on the idea of ever having your own office space again, it can just be a way of hitting pause ahead of a reset. You don’t have to figure out how you’re going to get rid of the boardroom table, or what you’re going to do with all the expensive equipment. You can simply look into some cost-effective storage solutions. A quick search for say, self storage Stockport, will show you that Easy Access Self Storage has locations near you with options specifically for businesses, and you can even turn your storage unit into a mini-office.
Your Employees Will Thank You
We’re not suggesting that your employees aren’t already thanking you. The fact that your business is still up and running is a major achievement in this year and we’re all lucky to still be working. However, in these times of great uncertainty, working from home has been a major boon to employees across the country. It’s been such a boon to be able to adjust working hours to help with family commitments, and some businesses have discovered that flexible working times have helped employees reach their full potential. Additionally, with the pandemic still in play, we’ve all slept a little easier knowing that we don’t have to run the risk of a busy commute. It’s a positive step for you, and it’s a positive step for them.
What is a WFOE and How Easy Is It to Set One Up?
There are many ways to do business overseas. You can open a virtual branch office, an actual office, or just hire locals and work with them remotely. Choosing the most appropriate vehicle for your business will probably depend on a number of different factors.
In many countries, it’s not possible to start a business without at least one of the directors being local. This can make life difficult, as it means ceding a percentage of control to someone you might not have a close relationship with. Unsurprisingly, a lot of people choose not to go down that route.
For anyone looking to do business in China, a Wholly Foreign-Owned Enterprise (WFOE) is the answer. This is a limited liability company 100% owned by a foreign investor, so you are in control. The WFOE came into fruition to aid manufacturing and technology companies to do business in China, but today, the WFOE is being used more and more by service companies and consulting firms.
A WFOE is a company set up in China. It doesn’t refer to foreign branches of a company located elsewhere. As the name suggests, a WFOE is owned solely by a foreign investor, with no capital contributed by a Chinese investor.
There are three main types of WFOE:
- Manufacturing
- Trading
- Consultancy
The Pros of a WFOE
There are some unique advantages of setting up a WFOE. These include:
- The application process is relatively simple for consulting WFOEs, but less so for a manufacturing WFOE.
- You have complete control of what the company does, as well as hiring and firing, and you don’t need to consult any Chinese partners before making operational decisions. This enables much greater efficiencies in everyday business processes, as well as in the future development of the company.
- All intellectual and technology property is protected when you incorporate a WFOE in China, which is useful when you consider that China is infamous for its abuse of intellectual property rights and technology expertise.
- If your business is in manufacturing, you won’t need a special import/export license for any products you manufacture.
- Long-term licenses are available – up to 30 years.
- You can purchase and build property in China.
The Cons of a WFOE
There are very few disadvantages to setting up a WFOE in China, but the two that are worth noting are:
- You are limited to specific business categories with WFOEs, so it might not suit your business model.
- A WFOE is subject to Chinese business taxes.
- Manufacturing WFOEs need permission from several trade bodies before they can operate.
Setting Up a WFOE
It can be tricky to set up a WFOE, as each district is free to interpret the Ministry of Commerce rules to their own advantage. GlobalizationPedia has more information on setting up a WFOE in China. Their guide tells you how to register a WFOE, as well as the main issues to expect.
A WFOE is the most popular business structure for foreign investors hoping to enter lucrative Chinese markets, but it’s important to seek expert advice before you do anything concrete.
5 Factors That Help Businesses To Meet Their Online Goals
If you want your business to succeed nowadays, you need a strong online presence. The internet dominates so much of people’s everyday lives that you can’t hope to thrive without it.
Of course, not everyone is familiar with how to market a business online, and many companies struggle to stand out on such a crowded platform. If you’re having difficulty making your mark online, or you need some ideas on where to start, these are the essentials you should be focusing on.
Social Media Presence
A decade ago, a strong social media presence might not have been essential for a business to succeed. Now, though, it can make all the difference in the world. Given that billions of people use social media, there’s no greater way to reach your audience than through sites like Facebook, Twitter, and Instagram. Which of these is best for you depends on both the type of business you run and the online habits of your consumer base. Once you’ve worked out where is best to market, you need to focus on publishing regular content that’s engaging and informative. If you succeed in doing that, your online presence should soar in no time.
Search Engine Optimisation
There are plenty of ways that you can reach potential customers online, with search engine optimization, or SEO, being one of the best. By making certain changes to your content and website, you can improve your ranking in search engines, meaning you’ll appear higher in search results. It’s an excellent way to get organic traffic for your site. If you’re not sure how to go about doing this, YostratO can offer plenty of help with their SEO services. They promise to increase search engine performance and website traffic with their tailored packages, meaning you can maximise your growth potential.
Eye-Catching Website
Typically, if someone looks at your website, it’s either because they’ve heard about your services elsewhere, or you came up as a suggested result during an online search. Either way, these potential customers are interested in what you offer, but they’ve not decided yet whether they want to give you their money. Your website can effectively determine that for them, which is why it must be well-designed. Something that’s hard on the eyes or which looks unprofessional will turn people away instantly. Good things to consider are clear, eye-catching fonts, colours that complement each other (and preferably relate to your brand), and plenty of images. Ensuring that the layout works on mobiles and tablets, as well as computers, is also essential.
Online Interaction
While being on social media is essential for any business in the modern age, it’s not enough to simply post content every day. You also need to interact with people on these platforms to keep them engaged and show that you’re committed to them. If people ask you questions, respond to them quickly with as much information as possible. That goes for any kind of correspondence you receive from people, whether it be through social media, email, or your website. People value customer support, so failing to provide a high level of this won’t work in your favour.
Email Marketing
Some businesses believe that email marketing is no longer as useful as it once was. However, you shouldn’t count it out just yet, because it’s still a reliable tool for building loyalty with your customers. Through this form of marketing, you can offer people incentives like discounts or other perks that are exclusive to your emails. It’s a good way to ensure that more people read what you send them. Plus, it can help you to reach audiences who maybe aren’t as social media savvy as others. Just make sure that your emails are engaging, concise, and aren’t sent out too frequently. Otherwise, you risk pushing people away.
The internet is so saturated with content these days that making your business stand out can be tricky. If you persevere and apply these essentials, though, you shouldn’t have too much trouble establishing a successful online presence.
Landlords – your self-assessment guide
Landlords make money from renting out their property to others, and many are classed as sole traders. This means they will need to complete an annual Self-Assessment tax return form (which tells HMRC how much Income Tax they will owe on any earnings) and submit it before the 31st January deadline.
Whilst at first, this process may seem daunting, especially given how many changes there have been in property tax over the last few years. GoSimpleTax have several ways to make this process a walk in the park and they have supplied a guide to Self-Assessment tax returns for landlords below…
What tax do landlords need to pay?
Landlords must pay Income Tax on any profits made from their rental property. The amount of tax you pay will depend on your total taxable income. At present, the standard Personal Allowance is £12,500, meaning you do not have to start paying tax until you earn £12,501. However, you do not get a Personal Allowance on taxable income exceeding £125,000.
If you pay Income Tax at the basic rate (that is, your taxable income is between £12,501 and £50,000), you will have to pay 20% of it in tax, while higher rate taxpayers with income between £50,001 and £150,000 will have to pay 40%. If you earn more than £150,000 per tax year, you will have to pay Income Tax at the additional rate of 45%.
Please bear in mind that tax laws change, and it is important that you keep abreast of these.
Are there any other allowances?
Back in 2017, the government announced a new property allowance for property income. This is a tax exemption of up to £1,000 per tax year for landlords and individuals with income from land or property. If your income from property rental is between £1,000 and £2,500, you must contact HMRC.
You must also report it on a Self-Assessment tax return if your income from property rental is:
- Between £2,500 and £9,999 after allowable expenses
- £10,000 or more before allowable expenses
Changes to mortgage interest tax relief
Since April 2017, tax relief for mortgage interest and finance costs for higher-rate taxpayers have gradually been phased out through a 25% year-on-year reduction for four years. This means that, by 2021, landlords will get tax relief on these costs at the basic rate of 20%.
That means that, in 2021, 100% of your mortgage interest payments will be covered by this new 20% tax relief. You can find out more here.
How the Self-Assessment tax return process works
The Self-Assessment is a tax system that is used by HMRC to collect Income Tax from taxpayers.
There are two ways to file a tax return: online, or by downloading, filling in and sending a paper tax return form. HMRC will then calculate how much Income Tax you owe based on the income and expenditure you’ve reported.
To simplify matters, many landlords opt to use Self-Assessment tax software to smoothly and accurately complete their tax returns.
The key dates throughout the tax year
To submit your Self-Assessment tax return, you must be registered with HMRC by the 5th October following the end of the tax year. If you have rental income in the tax year ending 5th April 2020, for example, you will need to register as a landlord with HMRC by 5th October 2020.
The deadline for your online tax return would then be midnight on the 31st January 2021. If you would rather file a paper tax return, you must send it to HMRC by midnight on the 31st October 2020. You’d then pay any tax you owe on 31st January 2021 – regardless of the method you used to file.
HMRC will charge an automatic £100 fine if you fail to file your Self-Assessment tax return on time. You will have to pay more if it is later and you will also be charged interest on any late payments to HMRC. You can calculate your estimated penalty for late Self-Assessment tax returns and payments here.
You may also need to make an advance payment towards your next Self-Assessment tax bill (known as a payment on account) on the 31st January. You may also need to make a second payment on account on the 31st July. That being said, it is important to note that due to coronavirus (COVID-19), you could defer your second payment on account for the 2019/2020 tax year to the 31st January 2021 if you are:
- Registered in the UK for the Self-Assessment tax return, and
- Finding it difficult to make your second payment by the 31st July 2020 due to the consequences of coronavirus
Additionally, you can spread the payments due in January 2021 over 12 months, as long as the amount due is less than £30,000. However, HMRC will charge you interest if you use this facility. HMRC will issue more guidance on arranging this, but you can find out more here.
To avoid harm to your revenue stream in the long run, you should plan out your finances ahead of time.
INsiders receive a 10% discount off GoSimpleTax – Get started today and your discount code will be emailed to you.
Allowable expenses for landlords
As a landlord, you can deduct allowable expenses from your rental income once you work out your taxable rental profit. Your allowable expenses must be wholly and exclusively for the purpose of your rental property business. In other words, if an expense was not incurred for the property, you cannot deduct the cost from your rental income.
There are several types of expenses that you can deduct, including:
- Water rates, gas, electricity and council tax
- General maintenance and repairs to the property – improvements are not included
- Insurance – including contents, policies for buildings and public liability
- Cost of services that are part of the rental agreement, such as cleaners and gardeners
If you use your own car to visit and manage the property, you can also claim a flat rate of 45p per mile for the first 10,000 miles in the tax year. This rate is not affected by the number of vehicles used.
In order to take advantage of these allowable expenses, you must keep accurate records so that you can submit evidence of them should HMRC ask for it.
This is yet another reason why getting organised ahead of time is so crucial. If you keep your Self-Assessment tax return updated in real time (i.e. you update it with your income and expenditure information as soon as you receive it), then you have more time to look back over your receipts and determine whether they are allowable expenses.
Done right, the Self-Assessment tax return process can be simple, and it can also help you make tax savings.
About GoSimpleTax
GoSimpleTax software submits directly to HMRC and is the solution for self-employed sole traders and anyone with income outside of PAYE to log all their income and expenses. The software will provide you with hints and tips that could save you money on allowances and expenses you may have missed.
Trial the software today for free – add up to five income and expense transactions per month and see your tax liability in real time at no cost to you. Pay only when you are ready to submit or use other key features such as receipt uploading.
How To Limit Your Stress This Tax Return Deadline
If you are a self-employed sole trader the chances are you dread January as you haven’t yet filed your self-assessment tax return. If you have, great news you will not be one of the millions rummaging around drawers for receipts in January!
Getting this monumental task completed early is no mean feat. But it is possible to get through the tax season without experiencing a stressful sprint to 31st January.
Here, Mike Parkes from GoSimpleTax explains how.
Gather all information soon
Don’t delay get the required data together now. Make a checklist such as the one below to ensure you have everything avoiding unnecessary delays.
Documents and Information Checklist. (suggested format)
| Documents/Information | Found | Need to Find |
| National Insurance Number | ||
| Unique Taxpayer Reference number or UTR | ||
| Business/partnership name, address and company number if relevant | ||
| P45 | ||
| P60 | ||
| P11D | ||
| The business’s annual income and expenditure | ||
| Income earned from other employment | ||
| Any rent they have received | ||
| Interest paid on loans, credit cards or other credit | ||
| Income from overseas | ||
| Income received from a partnership | ||
| Any dividends received | ||
| Benefits received either from the state or an employer | ||
| Capital gains received | ||
| Gift Aid received | ||
| Pension contributions | ||
| Tax payments they have already made this year (payments on account) |
If you have an accountant or bookkeeper filing your return ask them to sign and register the 64-8 form earlier rather than later. This will make them officially recognised as your agent by HMRC, and able to act on your behalf.
Know what you need
You have your checklist of standard data required, but you may require extra information.
Perhaps you have a student loan. Maybe you (or your partner) are claiming Child Benefit. If there’s the slightest possibility your circumstances will affect how much tax you need to pay, you should be aware.
INsiders receive a 10% discount off GoSimpleTax – Get started today and your discount code will be emailed to you.
Be aware of possible penalties
Submitting the Self-Assessment late comes with penalties, so be aware of these and know how you will need to provide all the necessary data to ensure they avoid them.
Check for mistakes now
It’s possible that, when you have gathered your information together, you may have missed something out or made an error.
So, once you’ve collated everything you need look at it as soon as possible. You’ll want to guarantee that nothing doesn’t quite add up or has been excluded.
Minimise errors with tax software
The chances of any mistakes can be reduced through Self-Assessment tax return software. It will take all the administrative work off your hands, ensuring the numbers are correct.
Think ahead for Making Tax Digital
With MTD over the horizon begin converting to a software such as GoSimpleTax and utilise their income tax calculator and submission tool for your business. Giving you full visibility of your tax liability in real time whilst giving and reviewing your pension contributions and investment opportunities.
About GoSimpleTax
GoSimpleTax supports the self-employed and sole traders all over the UK to file accurate Self-Assessment tax returns. You’ll be able to do so quickly as well – their software automatically calculates income, expenditure and tax owed in real time, and from a variety of devices.
Why You Should Go Digital For Your Self-Assessment
You will always find people who prefer paper-based accounting and self-assessments, reluctant or uninterested to learn to use new tools, they prefer physical copies over digital documents. But this could come at a cost.
By transitioning to digital, your accounts will be easier to manage and they’ll take a fraction of the time to process, enabling you to work on other elements of your business.
We’ve asked Mike Parkes from GoSimpleTax to explain more, and highlight how you can benefit from going paperless.
Real-time answers
Paper, by nature, is chaotic. You’ll need to file and accurately record your accounts – up to six years of your accounts, in fact, to ensure that you are covered if HMRC launch an investigation into your tax return. That’s sure to take up a lot of space, and it also doesn’t provide you with an easy-to-access overview of what you owe the taxman.
Digital files, on the other hand, are much easier to read. Especially if you invest in a tax return solution like GoSimpleTax. Tools like these allow you to record your income and expenditure in real time, meaning that whenever a you wish to know your tax liability it is available in a few short clicks.
Plus, as some tax return software providers also highlight any opportunities to claim tax relief, there’s an extra incentive for you to stay on top of your record-keeping.
Record income more easily
Another benefit of going digital is the ease with which you can record your income. At the moment, you have to log each of your paid invoices into your tax returns. But with invoicing tools, that all changes.
By using software to request payment, any invoices paid will automatically update your accounts. For example, if you receive a payment for an invoice you sent, your predicted tax bill will be automatically updated based on the amount of that payment. This saves you time and also unifies two of your businesses most important admin tasks: invoicing and the tax return.
Digital tools can also be used to understand when to schedule sending invoices as well as the follow-up emails to ensure that customers pay on time. Integrations with online payment solutions like SumUp and PayPal can additionally help your customers pay you more quickly using a debit or credit card, saving you from chasing payments in the first place.
Each of these payments will then filter into your tax returns, making the 31st January tax return deadline much easier.
INsiders receive a 10% discount off GoSimpleTax – Get started today and your discount code will be emailed to you.
Be MTD-ready
Last but not least, going digital means you’ll be ready for upcoming legislation. Making Tax Digital (MTD) was a government initiative launched in 2019 to gradually digitalise the UK tax system. It started with MTD for VAT, which stipulated that VAT-registered businesses with a taxable turnover above the VAT threshold would need to digitalise their accounts by 2022.
Soon this will extend to all self-employed individuals with an annual income above £10,000. The reason for this is that the government believes, by using software to submit tax returns, there will be fewer avoidable mistakes. These mistakes cost the government £8.5 billion in 2018/19.
By adopting this software now, you’re well ahead of the MTD for Income Tax roll-out date. So, not only will you be compliant with the incoming legislation, but you’ll also benefit from a streamlined workload well ahead of your competitors.
About GoSimpleTax
GoSimpleTax software submits directly to HMRC and is the solution for self-employed sole traders and anyone with income outside of PAYE to log all their income and expenses. The software will provide you with hints and tips that could save you money on allowances and expenses you may have missed.
Trial the software today for free – add up to five income and expense transactions per month and see your tax liability in real time at no cost to you. Pay only when you are ready to submit or use other key features such as receipt uploading.
3 Tips To Help Female Entrepreneurs Stay Safe
3 Tips To Help Female Entrepreneurs Stay Safe
The lifestyle of the entrepreneur can be a rocky road, and women face their own set of challenges in this regard.
For example, analysts assert that the coronavirus has disproportionately affected female entrepreneurs, citing that they were a third more likely to work in a sector at risk of shutdown. According to data in the same source, they were also more likely to be furloughed, and 47% more likely to lose their job entirely. It’s a tough time for all out there, but for the women of the business world, it can be even tougher.
There are also questions to consider when it comes to the personal safety of female entrepreneurs, also. No one should feel under threat as a basic principle, but additionally, when everyone is comfortable and content, that’s when people perform their best work too.
With all of this in mind, here are 3 tips to help you stay safe as a female entrepreneur.
Install Better Security
Security is the most important line of defence when it comes to safety.
To maximise the security systems around your business premises, consider investing further into CCTV design and installation. A great way to do this is by working with one of the leading multi-service security providers in the UK, First Response Group. They’ll help you develop cost-effective security solutions for your enterprising needs and are equally as open to one-off assignments as they are to long term B2B relationships. They can even provide security guards to patrol your premises just in case you want some extra assurances.
It’s all about awareness, deterrents, and peace of mind. Once you have all the appropriate arrangements in place, you eliminate much of the risk and dangers that comes with business ownership.
Encourage an Open Dialogue
Sometimes, enforcing a safe working environment means building each other up and confiding in one another.
If there is an open dialogue between entrepreneurs and across all levels of a workforce, then everyone will know how to behave and what precautions to keep in mind. Moreover, when people feel like they can speak up with their concerns, in their doing so they can be helping others with their enquiries.
Obviously, entrepreneurs are at the top of the line-up, but that doesn’t mean you can’t ask questions of your workers either. No enquiry is silly or unnecessary, and when everyone has each other’s backs, great things can happen. Nurture a culture of care, and you’ll keep each other safe.
Hire Cleaning Services
Considering the pandemic, staying safe now also means keeping workplaces spick and span.
Depending on your line of work, this may have been a requirement of your workplace pre-COVID-19. However, now everyone is rightly held to the same high standard. Hiring a professional cleaning service will help to ensure your workplace is clean and tidy all year round.
4 Solutions No Business Should Go Without
In these uncertain times, it can be difficult to be a business owner. The coronavirus pandemic has caused major uncertainty and disruption to most industries and we will likely be feeling the effects of this for years to come.
Here are a few ways that you can invest in and protect your business for years to come.
Technology
This one is key and is one that has been thrown into sharp relief by the coronavirus pandemic. We are living in a fully digital world now and given restrictions on visiting brick and mortar shops, online sales and services have boomed.
Your business will need a good, professional website to showcase your talents and services. Your website should be dynamic and engaging – where possible make sure to update and tailor it regularly to keep it at its very best. Making use of features like blogs on your website can help you to showcase your knowledge and expertise and is great for keeping customers informed.
No matter your business, you will find technology out there to help streamline and improve your operations, which can end up saving you significant amounts of time and money. Make sure you do your research and find the very best technology out there.
Good Accounting
Accounting is vital for a successful business. Where possible you should aim to enlist the help of a professional to help with your accounting. This will leave you able to focus on your business and what you do best.
A good accountancy service will keep on top of legislation and regulation. This is their specialty and is invaluable to business owners who often don’t have time to oversee details of accounting in the same way they would in other elements of their business.
Check out these accountancy services for some great ideas on what to look for in an accountant. They can help ensure that your accounts and taxes are in order and ultimately save you money and time while providing peace of mind. Good accounts will also provide valuable insight into areas where your business is excelling and areas that need attention and improvement.
A Social Media Presence
As with technology in general, more of us than ever before are engaging on social media. This makes it an invaluable tool for marketing and promoting brand awareness.
Many people when looking for new products and services check a business’s social media pages to get a feel for the company and its ethos. Providing engaging content can be incredibly helpful to show that you are knowledgeable and that you truly care about your customers.
Social media can also be a great way to gain reviews and recommendations. You could try running social media campaigns to increase brand awareness and get social media users engaged.
Nurturing Talent
A business is only as good as its people. You need to make sure you are attracting the very best in your industry.
Making sure your business is a desirable place to work is key to ensuring you find the right talent for roles. This isn’t just about paying well, though that certainly helps. You need to stand out from your competitors by offering a good work environment.
It can help if you provide some things that other offices don’t. This can be any number of things such as break rooms with games like table tennis to bean bags for more dynamic working to using standing desks to promote staff health.
Progression opportunities are also key to attracting and retaining the best talent. If you make your place of work somewhere that they can thrive and grow for years to come you are far more likely to receive employee loyalty and dedication in return.