Tag: Business practice and regulation
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Computer hardware: the basics
Computer hardware is the most easily identifiable part of your IT infrastructure and is one of your most important business assets. While software is needed to make any hardware useful, without the correct hardware your software may not run efficiently or even at all. Therefore, as with any business investment, you should choose your computer…
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Business insurance: the basics
Getting the right insurance is essential for any new business. You’re legally required to have some types of cover – such as motor insurance for company and personal vehicles or employers’ liability compulsory insurance if you have staff. It’s a sensible business decision to insure your premises, fixtures, fittings, equipment and stock against disasters such…
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Floating on the stock market
Floating your business on a stock market involves selling a percentage of your business in the form of shares, which are subsequently traded. There is a choice of stock markets in the UK, but the two largest are the London Stock Exchange and PLUS Markets Group. Joining a stock market turns your business into a…
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Foreign currency and exchange risks
If your business exports or imports goods or services, you need to consider how you will protect yourself against changes in the exchange rate. Even a tiny variation in the rate could cost your business thousands of pounds. You’ll also need to decide how to make and receive payments in foreign currencies. This guide is aimed at…
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Using payment cards to buy and sell goods or services
Using payment cards – such as credit or debit cards – can provide many benefits for your business. As a buyer, they offer a range of alternative ways of paying for goods or services instead of using cash or cheques. And, as a seller, accepting these cards could help you sell more and reach new…
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Debit and credit cards for your business
Making purchases with plastic cards is a convenient and flexible option for many businesses. The different types of card available – from debit, credit and charge cards to specialist purchasing cards – mean small-business owners don’t have to carry large amounts of cash or a company chequebook. Staff purchases can also be effectively managed through the use…
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Business budgeting
It’s essential to plan and tightly manage your business’ financial performance. Creating a budgeting process is the most effective way to keep your business – and its finances – on track. This guide outlines the importance of budgeting as part of your business planning, and explains how to go about this. It suggests action points…
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Find support for inventors
Every year thousands of people think they may have invented a unique product or component. But there’s a lot of work to do before they can exploit it commercially – from checking that the invention is original and safe, to building a prototype. There’s a wide range of support available to individual inventors and small…
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Insure your business and assets – general insurances
Insurance can protect your business against damage to, or the loss of, physical assets. The cost of insurance depends on both the insurer’s assessment of the likelihood of damage and the size of any payment they may have to make in the event of a claim. This guide provides information on the different types of…
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Commercial property: responsibilities of business tenants
If you are the tenant of commercial premises, it’s important to be aware of the responsibilities you have for maintaining the premises and for the health and safety of occupants – particularly in areas such as gas and fire safety. Some responsibilities are laid down by statute and others have the force of law because…
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Set up and register a partnership
This guide looks at the requirements that ordinary partnerships have to meet. A partnership is a relatively simple and flexible way for two or more people to own and run a profit-making business together. Social enterprises and other non-profit making organisations should not use this business structure. Unlike the shareholders in a limited company, the…