What is a small business?

Small businesses, explained

 

According to the Her Majesty’s Revenue & Customs (HMRC), a small business is a privately-owned and operated business with a small scale of trade and a small number of employees, depending on the industry. Small businesses are commonly referred to by the European term “SME” which...

 

Work-life balance

Work-life balance

 

A work-life balance involves a lot more than simply dividing working time and personal time equally. The concept is often viewed as a philosophy that determines many aspects of a person’s life. In order for it to succeed, both employers and employees must make an effort to create...

 

Job Interview Tips

Interview tips for making a great impression

 

You’ve made it past the application process and the initial screening and you’ve been invited to an interview. It’s normal to be nervous, especially if you have limited experience in selling yourself. There are a few unwritten rules that apply for all interviews. As soon as you...

 

Company mission, vision, values

Mission statement vs. vision statement

 

Even if prices are raised and there are more affordable alternatives on the market, we will often continue to buy products from the same brand. The reason for this is the same as explaining why we always choose to fly with the same airline or get our coffee from the same place:...

 

Types of taxes in the UK

Taxation and the different types of taxes in the UK

 

Keeping track of taxes in the UK isn’t exactly a piece of cake. There are so many types of taxes that it’s difficult to know which ones apply to you and/or your business. If you don’t file your taxes correctly with the HMRC, it could result in penalties, which could cost you...

 

CRM tools: customer care made easy

CRM tools: software for customer care

 

Customer care is one of the corner stones of a successful company – whether you are running an online shop or offering bank accounts. Even smaller companies can benefit from the use of CRM tools, which help to organise customer- or buyer data. These software systems automate and...

 

Business plan creation

Writing a business plan: here’s how to plan your venture

 

Before a business idea can be implemented, it is necessary to create a business plan. This serves as the founder’s roadmap, and summarises all necessary information about planning and finances. However, the business plan is also highly relevant for investors as well as potential...

 

Startup funding: tips on corporate financing and promotion

If you want to create your startup independently, the question will come up sooner or later of how the company will be financed. Nowadays, there are so many options for startup funding: regional and nation-wide funding programs can help, as well as angel investors, startup centers, and other investors. Long-term subsidies that last two or more years are not a rarity in the startup industry. Learn...

E-commerce: the basics

If you’re planning to set up an online store, you have a lot to consider. Amongst other things, your checklist will include applying for a business license, developing a concept, and calculating your finances. But don’t despair! A host of e-commerce programs and optimisation functions are on hand to help you succeed.

Setting up an online shop: tips for creating your business

A business plan is an essential tool for every entrepreneur seeking to kick off a budding project. This not only applies to brick-and-mortar companies, but also to online shops. This is where entrepreneurs can really get to the heart of their business concept, outlining all the crucial elements: from marketing strategies to the company’s staff structure. Providing a projection of the company’s...

Seed money for your online shop

When planning the finer details of your online shop, rushing through your financial plan can lead to chaos. It’s important to be aware of how much money you need to spend, and only an extensive finance plan can provide the necessary security for the development of your web store. But what expenses do you need to be aware of when setting up your web store?

Writing a business plan: here’s how to plan your venture

Before a business idea can be implemented, it is necessary to create a business plan. This serves as the founder’s roadmap, and summarises all necessary information about planning and finances. However, the business plan is also highly relevant for investors as well as potential financial and funding institutions, since it is a decision-making factor for loans and grants. Due to its importance and...

The best crowdfunding sites – a comparison

Crowdfunding sites allow artists and start-ups to collect donations for their projects. Instead of relying on large investors, you place your trust in a donations-based financing concept, which operates on small donations by lots of individuals. In return, you reward your backers with updates about your developing project, as well as sending them a small thank you gift in return – although this is...

The sandwich method of criticism

With the help of the sandwich method, managers try to communicate criticism to their employees in the most pleasant way possible. Negative feedback is packed between two “sandwich slices” of praise. The sandwich method is also popular in sales methods, and increasingly also in everyday communication. However, there are not only positive aspects, and the method has been criticised by some.

How to take minutes: What needs to be considered?

Whether you’re at a board meeting or a project meeting, the question always comes up: “Do we really have to take minutes?“ In large companies, it is often policy that you need to record the minutes, but in small and medium sized companies, this isn’t always the case. Then comes the question: “What is the right way to take minutes?” Writing them can be done quickly and easily with a template. We...

Net Promoter Score (NPS)

“How likely is it that you would recommend our company to a friend or colleague?” The NPS, short for Net Promoter Score, is limited to this “ultimate question” asked to gauge customer satisfaction. We explain the concept behind the management tool, how you calculate the NPS, and why critics question how valid the NPS is.

The 80-20 rule: the Pareto principle

Achieving the greatest possible success with little effort? That's what many people dream of. This wish can be fulfilled with the Pareto principle. Whether at work, at university, or in private life, those who follow the 80-20 rule ensure efficient handling of all important tasks. We explain to you what the Pareto principle is all about and its advantages and disadvantages.