Helping businesses start, grow and prosper
January 2012
10th Edition
Welcome to the Business Improvement Programme Newsletter & A Very Happy New Year
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NEW YEAR, NEW START…. (UP?)
Many of you are making New Year's resolutions, thinking of starting your own business or considering how to grow your business to its full potential. If you need guidance through the start-up process or you want to develop your business, we recommend your first point of call should be www.Businesslink.gov.uk/newservices.
We asked users, “How did Businesslink.gov.uk impact on your business?”
Here’s what they said;
Source: Impact Assessment for Business link October 2011
Feedback from users has been positive. Petar Stojic from Measurement Matters Ltd said, “…the new presentation of material through video, animation and self-tests was really useful. I had been doing part of my VAT incorrectly, now corrected, so really useful all round” and James Mall, a Marketing graduate said “ The new ‘My New Business’ tutorial from Business Link is a handy tool for anybody to use who is starting or even thinking about starting their own business. It’s easy to access with a friendly user interface where you can learn or simply brush up on your business knowhow before taking the plunge into starting your own business. And best of all it’s FREE!”
3 Top Tips from Businesslink.gov website to help with potential New Year 'issues'
- Click here for advice on managing staff absences due to bad weather/unforeseen circumstances/illness (winter flu) or similar.
- Click here for help with forecasting and planning new salesDeadlines for VAT/tax paper returns are looming,
- Click here to get advice on submitting your online returns.
Your New Year’s Resolution could be to “Get Mentoring”
Get Mentoring is a new initiative to train and support a community of volunteer enterprise mentors across the UK. Working with SFEDI, thousands of volunteer mentors from the micro, small and medium-sized business community will be recruited and trained.
Get Mentoring is about businesses helping each other to succeed. We know how important it is for those who have 'been there and done it' to pass on their valuable experience.
Over 1,000 business people have already volunteered through this initiative but we need more to come forward and volunteer to share their experience in order to help the next generation of SMEs.
To find out how you can get involved, go to www.getmentoring.org
JANUARY 2012 FOCUS - CASHFLOW MANAGEMENT
Under the Finance Fitness campaign Government is encouraging banks and companies to help increase business awareness of available information and advice. All of the impartial information and advice Businesses need can be found at BusinessLink; including links to free workshops and events.
This month we are specifically highlighting cashflow management a vital discipline for companies’ seeking to make the most of their cash and a must in preparing to seek external finance.
Did you know that?
- Cashflow can be particularly challenging for growing businesses, where the investment demands of a growing order book can outstrip cash coming in from sales;
- Companies can be unaware of their rights in the case of late payment, or reluctant to set clear payment terms in case it damages sales prospects.
Government is encouraging all businesses to sign up to the prompt payment code. Click here to access.
WHERE TO GO FOR HELP?
- Business can download free cashflow management guidance produced by ICM's Credit Management in association with BIS, here.
- Use our interactive tools to assess how well your business is performing and how to improve your business cashflow
- Access the online course on cashflow management on the learndirect business website
We are organising a 'Get Paid on Time' day and linking in with information and events on managing cashflow topics throughout the month. If you'd like more information, please visit: www.improve.businesslink.gov.uk/finance
RECENT AND UPCOMING EVENTS/ACTIVITY
Woman’s hour and women's enterprise: On 2 January, Womans Hour on Radio 4 was devoted to women led businesses and start ups – click here to play and listen to the discussions of issues facing entrepreneurs and how to tackle them. The Woman’s Hour website also has a good resource for women start ups for further information click here
BUSINESS IMPROVEMENT PROGRAMME - WHO WE ARE & WHAT WE DO
Our monthly newsletter provides information about changes to the way the Government provides support to people who want to start, improve and grow their business. More information about our work
TELL US WHAT YOU THINK ABOUT THE NEWSLETTER
We are keen to get your feedback on the newsletter would appreciate it if you would complete the short survey here Or Share your inspirations and experiences with us at businessimprovement@bis.gsi.gov.uk
Useful links
- www.improve.businesslink.gov.uk/finance - Ensuring the flow of credit to viable SMEs is essential for supporting growth and is a core priority for Government.
- Local Enterprise Partnerships - led by local authorities and businesses across natural economic areas. They provide the vision, knowledge and strategic leadership needed to drive sustainable private sector growth and job creation in their area.
- Solutions for Business – find out more about the range of publicly funded products and services designed to help Businesses to identify and overcome key challenges as they grow, providing the assistance they need to improve when they need it most.
- Enterprise Directorate – find out more about our work across Government and the regions to develop and influence policies to boost enterprise, start ups and small business growth
Connect with BIS
We publish this newsletter to keep you up-to-date with progress on the delivery of the Business Improvement Programme. The BIS Bulletin sets out the wider work of BIS to help build a more dynamic and competitive economy.
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