You are currently browsing the Blog - EMS - Business Consultants weblog archives for February, 2011.
28/02/2011 by Geoff.
Many years ago I relocated a business. This went quite successfully - we didn’t let our customers down - but it came with a Union recognition claim! Something to do with forgetting to communicate with our employees!
Most serious small businesses will grow and so will come the time they run out of space. Key concerns include:
So how to prevent these becoming reality:
If you need any further help contact us enquiries@emseff.co.uk
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28/02/2011 by Geoff.
The Taxman could be coming to an SME near you. Santa may have been, but the taxman might be coming as well.It is reported that HMRC believes that up to 40% of the 4.9M SME companies keeps poor records and thereby may have unpaid tax liabilities.HMRC says it intends to investigate up to 50,000 SMEs and heavily fine those caught out.Whoops – you can insure with your auditor for their investigation fees, BUT NOT for any fine
Happy New Year
Written by John Hill - Financial Specialist
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22/02/2011 by Geoff.
If you make a profit on a business asset which qualifies you for capital gains tax (CGT) entrepreneurs’ relief, you will only pay CGT at a rate of 10% subject to the new lifetime limit of £5 million of gains.
If on the other hand the asset does not qualify you are likely to pay CGT at 28%. Some difference!
Clearly any realistic planning moves which could ensure tax at 10% have got to be seriously considered. A number of ideas are now coming to the surface.
Posted in Business interest, Current Issues | No Comments »
22/02/2011 by Phil.
I have now qualified as a PAC analyst for the Sector Skills Councils. This is an offering to look at a business and determine areas where they might improve their Quality, Cost and Delivery (QCD). It is based on the 7 DTI measures of:
Phil - Business Improvement Consultant
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14/02/2011 by Geoff.
So you’ve had your brilliant idea and set up your business. Everyone knows the first year can be difficult and require a lot of time from the owner. But moving into the second year you’re still spending an inordinate amount of time on the business and as a result you have no life outside work!
This is not leading your business to success. A natural growth pattern requires you to develop an organisation for your business and recognise what you’re good at. If you’ve developed a strong organisation you can delegate the tasks that you’re not quite so good at. Further more you’ll be able to have some time off (plan it leaving precise instructions for circumstances that require contact with you) - success!
Now to the next stage of developing your success story.
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14/02/2011 by Phil.
The NVQ qualification in Business Improvement Techniques is now under the new QCF (Qualifications and Credit Framework) and has become QBIT at Levels 2,3 and 4. The skills delivered in Business Improvement Techniques (BIT) are key LEAN tools which candidates learn and practice during their course. The businesses I work with find that these drive the individuals to find the hidden wastes and improve productivity. The subjects that can be covered are:
Phil - Business Improvement Consultant
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07/02/2011 by Geoff.
If you’re a small business you may not be surprised to hear that firms with 500 employees or more pay their invoices 35 days late were as firms with less than 100 staff pay 19 days late on average.
Large firms are improving their cash flow on the back of smaller suppliers – treating them as a source of free credit. Businesses are legally required to indicate in their annual accounts how long they take to pay bills but only 40% do so and there is no policing of this.
A similar big company trick is to change their terms of payment mid contract – the smaller firm has little choice but to accept. The danger is that the big guys may choose to stop trading with smaller enterprises – a lose lose.
The simple defence is get your invoices right including all necessary information and send it to the right person. This is better than threatening to charge interest which you’re entitled to do.
Written by Business Coach – Tony Brooks
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07/02/2011 by Geoff.
A surprising statistic from one large retailer is that small firms supply ~20% of small children’s products they offer.
In addition it is believed that you don’t need to be in production. A good idea, a prototype and determination can be enough to get a chance of success. Large retailers believe small businesses bring innovation and freshness to their shelves. Furthermore they like to work with them and make them a success story.
There is a catch – don’t forget about safety standards. The big boys won’t thank you if they have a claim in fact they won’t touch you if you don’t comply with EN71 safety standard. Other tips are:
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01/02/2011 by Geoff.
How many times have we heard the words “if only I had time I’d work on what would make a real difference to the business”. Provided this isn’t a winge or a figment of imagination and is a meaningful task then there is an answer and it won’t cost you much.
Work with academia!
Not a thought that springs to the minds of small businesses but there are bright graduates coming out of Universities and Colleges who have the feeling that anything is possible. So whether it’s introducing a person to work on the above task or help with developing a product or service check out the possibilities. It can be a win win! There’s more information at:
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01/02/2011 by Geoff.
One of the key things we do is help Companies change so as a result you’ll not be surprised at the title of this posting. An objection we hear a lot of is “but we’ve always done it like that” result alarm bells!Sometimes it is important to step back from your business to see the bigger picture. Stop and consider whether you need an overhaul. Ideas to spruce things up:
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