Business Advice (Business)

Cash flow forecasting: a basic guide

Alice Galletly — Wed, 19 Nov 2008 11:16:00 GMT

At a time when the UK’s economic climate sees many small businesses struggling at the mercy of their lenders, there are three words that must be remembered: Cash is king.

Cash is generally considered as being the most important tool for a business’s survival, without which, a business will inevitably fold.

Regardless of size or profits, a business will begin to struggle if it runs out of cash. While a business may survive without cash for a short period of time, if staff or suppliers cannot be paid, then products and services cannot be sold, and this cycle will quickly run a business into the ground.

For this reason, and particularly while trying to survive the credit crunch, it is vital for any business that cash flow is carefully monitored.

Small Firms Loan Guarantee (SFLG) – everything you need to know

Alice Galletly — Thu, 06 Nov 2008 12:58:00 GMT

As the looming recession sees lenders tightening the reigns on credit, many small firms and entrepreneurs are struggling to secure the funds they need to start or grow their business. The good news is, many of those who have been turned away may be eligible to apply for the Small Firms Loans Guarantee - a scheme for those armed with a viable business plan, but lacking the assets needed to secure funding.

What is the Small Firms Loan Guarantee?

Many small and medium sized enterprises have viable business plans for which they are unable to get funding, due to the fact that they do not have sufficient assets that high street banks and other lenders require as security.

The Small Firms Loans Guarantee helps both new and existing businesses in this position by providing lenders with a government guarantee against default by borrowers.

Savings for business; cheap phone, broadband, and utilities

Alice Galletly — Fri, 10 Oct 2008 16:48:00 GMT

As the economic climate continues to worsen, many small businesses are suffering at the hands of rising costs and reduced profits. Many businesses will look for ways to reduce spending during the downturn, but deciding on where you can afford to cut costs is not always easy.

Often marketing and staff costs are the first casualties of cutbacks, but these decisions must be made with care as they could ultimately compromise the business. We suggest that if you are looking for places to reduce spending, your utility bills are a good place to start. We’ve offered some advice on how you can save on energy, phone and broadband bills, in order to help avoid those more drastic cutbacks.

Cutting carbon, cutting costs: simple ways to save your business energy.

Alice Galletly — Wed, 20 Aug 2008 11:39:00 GMT

According to the government backed organisation Carbon Trust, small and medium sized UK businesses produce an annual energy bill of about £3.5 billion. They suggest that around 30% of this is generated by wasted energy, meaning a collective cost of £1bn is being spent unnecessarily.

Christian Nellemann: What I wish I'd known

Alice Galletly — Thu, 14 Aug 2008 16:30:00 GMT

For most people, starting a new business is something of a learning process. With so many new challenges and obstacles to face, getting everything perfect the first time is all but impossible. This was no different for Christian Nellemann, founder and CEO of XLN Telecom - who shares some of his hindsights with us.

Checklist for moving your business premise

Alice Galletly — Mon, 04 Aug 2008 10:07:00 GMT

With so many people to contact and things to organise, moving premises can be a stressful time for businesses of any size. To ensure your move goes smoothly, here are a few things you should ensure ensure you do along the way:

Choosing a name for your business

Alice Galletly — Mon, 28 Jul 2008 16:24:00 GMT

Coming up with a name can be the most fun, but also one of the most important decisions you will make for your business. This is your opening line; your first and sometimes only chance to make an impression - and so it’s vital to get it right.

Christian Nellemann's top tips for small businesses

Alice Galletly — Thu, 26 Jun 2008 09:27:00 GMT

Christian Nellemann, founder and CEO of XLN Telecom, offers his advice to small businesses at www.smallbusiness.co.uk.Founded in 2002 to offer an alternative telecoms service for small businesses, XLN Telecom’s growth has been phenomenal, advancing 800 per cent in the first year and continuing in the same vein...

How to compete on price and win

Alice Galletly — Wed, 25 Jun 2008 09:19:00 GMT

MyBusiness.co.uk caught up with entrepreneur Christian Nellemann, the founder of OfficePoint, euroffice.co.uk and XLN, to get his views on what it takes to succeed in price driven markets. "Much of what it takes comes down to common sense and remembering to look from the outside in rather than from the inside out," Nellemann claimed when asked how he'd gone about breaking into the telecom and office supplies markets.

Beat the credit crunch: survival tips for small businesses

Alice Galletly — Tue, 10 Jun 2008 15:47:00 GMT

As the credit crunch in the UK sees banks tightening the reigns on lending, small businesses are being hit particularly hard. Lacking the kind of cash flow that large companies posesss...