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...

 

Crowdfunding

Crowdfunding is a way of raising funds for a project using an online campaign. It’s a popular way of financing, especially for private individuals and startups. Usually private individuals are addressed directly. Four main crowdfunding models have been established, which differ depending on the rewards you promise your donors in return. In our article, you will also learn about what makes a good...

Cash pooling: liquidity bundling within a company

Subsidiary A is in financial difficulties, while subsidiary B has money at its disposal. Instead of accepting high debit interest rates and low credit interest rates, wouldn’t it be more practical to simply redistribute liquidity? With cash pooling, this is possible, but beware: You also have to follow certain rules when granting intra-group loans. Otherwise, you may face the threat of legal...

Salary negotiations – how salary increases work

Salary negotiations are important, if delicate topics for employees. You should prepare yourself so that you remain calm when talking to your supervisor and reach the desired conclusion. We provide you with useful tips and tricks on asking for a raise and starting salaries.

Income Tax allowances: How to reduce your tax liability

There are many different kinds of tax allowances, which can reduce the amount of tax you’re obliged to pay. Most taxpayers are entitled to tax exemptions that lower their tax bill so make sure you’re aware of the different allowances out there and see if you’re eligible for them.

How to write the perfect cover letter for a job application

If you are applying for a job, attach a cover letter to your application documents. This is a text in which you introduce yourself as a person and a worker. The art of writing a cover letter is to present yourself in the best way possible as concisely as possible. Most cover letters follow a similar structure so that HR managers can quickly grasp the essential information.

The PDCA cycle: more success with the Deming cycle

Continuous improvement and continuous learning: with PDCA, you ensure sustainable changes in both work and private life. The model, also known as the Deming cycle, helps to improve all possible situations – through an iterative, cyclical, and controlled process. How do you apply PDCA correctly?

Soft skills: definition and lists

Soft skills are all those skills that make you stand out as a worker, but seldom appear on certificates or help you achieve qualifications. Your soft skills are relevant to employers for lots of different reasons: How well can you work with people? How do you deal with stress? We give examples of soft skills that are useful in your job and provide useful tips on how to develop them.

Hard skills: definition and list

Practical skills, professional skills, and technical knowledge: All this can be summarised as hard skills. At present, these skills are in demand in the course of digitalisation, and are becoming more and more important. But traditional hard skills are by no means outdated. What exactly are hard skills, which kinds exist, and how do they differ from soft skills?

EBIT: The operating result

It is important to have an idea of your own company’s profitability. But looking only at the annual profit is often misleading. When it comes to EBIT, the annual net profit for income and expenses is adjusted through interest and taxes. This results in the so-called “operating result” – the key figure for success in normal business operations. We explain what EBIT is and how it is calculated.

What is EBITA?

EBITA is a financial indicator that can make business planning easier for you. This value masks items that do not directly influence the operational success of your company. Many large corporations work with this indicator because it makes it easier to compare international companies. What exactly is EBITA, and how does EBITA calculation work?