SuffolkSmall Business Guide 2010A guide to starting and growing a small business in Suffolk

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IntroductionThis guide has been developed with your needs in mind. It is designed to be an informativeintroduction to starting a business in your local area and outlines the key factors that you need to thinkabout at the start-up phase and during your first year of trading.

Researching your market xx

The business plan xx

Legal requirements xx

Raising finance xx

Marketing - Winning customers xx

Finding suitable premises xx

Information and communication technology xx

Business support xx

DirectoryUseful telephone numbers and websites xx

Contents

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Editorial by Lansdowne Publishing Partnership Limited.

Whilst every effort has been made to ensure the accuracy of the information contained within this Guide, the Publisher can not acceptany responsibility for errors or omissions. You are strongly advised to seek professional help from a suitably qualified business adviser.The inclusion of advertising, associations, organisations or businesses in this Guide should not be taken as an endorsement by the Publisherof the product(s) or service(s) offered.

© Copyright 2010 Lansdowne Publishing Limited. All rights reserved.

No part of this publication may be reproduced in any material form (including photocopying or storing it in any medium by electronic meanswhether or not transiently or incidentally to some other use of this publication) without the written permission of the copyright owner except inaccordance with the provisions of the Copyright, Designs and Patents Act 1988.

A guide to starting and growing a small business in Suffolk

The guide includes information on key business areas including:market research, writing a business plan, meeting all the legalrequirements, raising finance, marketing your business, findingsuitable premises, information and communication technologyand business support. There is also a useful contact list that willassist you in identifying where help is available.

Starting and running your own business can be a challengingprocess as well as a most rewarding experience, but whateverline of business you are in, competition is tough. Enthusiasmand dedication alone will not guarantee success. Accessinggood quality, informed business advice, support and training,both at the start-up stage and as your business grows, willsignificantly increase the chances of the business surviving.Contact your local Business Link or Enterprise Agency for advice,support and training:

Being your own boss comes with numerous benefits so don’t beput off by the challenges that lie ahead. We hope the followingpages will be of real benefit to you and wish you every successin your business future.

Business Link East:Tel: 08457 17 16 15 Web: www.businesslink.gov.uk/east

MENTA - Mid Anglian Enterprise Agency:Tel: 01284 760206 Web: www.menta.org.uk

NWES - Norfolk and Waveney Enterprise Service:Tel: 0845 60 99 99 1 Web: www.nwes.org.uk

Suffolk ACRE (Social Enterprise):Tel: 01473 345300 Web: www.suffolkacre.org.uk

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Understanding your marketMarket research forms the bedrock of your whole business planand involves understanding how your industry or product willwork and where it will fit into the marketplace. To base all yourstrategic decisions or financial forecasts on guesswork and notfact is a recipe for disaster and many businesses arehandicapped by a lack of up-to-date research at the planningstage. The more information you have, the better equipped youwill be to understand your potential customers, the marketplaceand how your product fits in.

Consider whether your idea satisfies or creates a market needand whether there are any potential customers. If there iscompetition, is your idea unique, distinct or superior to theirs,and is the competition local, national or global? Is your productsafe for public use, complying with relevant regulations andlegislation? Market research can play an important role inanswering many of these questions and increasing your chancesof success.

There are two types of market research, as follows:

1. Desk research(secondary data or second-hand information)

There are many sources of available information but at first theobvious route is to search the internet. Libraries, specialistdirectories and market survey reports (such as EconomicIntelligence Unit, Mintel or Keynote reports), local authorities andgovernment departments, trade associations, trade press andtrade exhibitions can also provide a wealth of information.

2. Field research(primary data or first-hand information)

There is no substitute for speaking to people directly by telephoneor face to face but carefully plan what you are going to ask.The easiest way to get the information you want is to compile aquestionnaire, with a limited number of short and simplequestions that are easily answered, - and easily analysed.

Understanding the business environmentBut researching your customer market is not enough - you needto assess the business environment as well so you canunderstand how this will influence the success of your product.This can be done in two ways, the first being via a PEST analysis.

• Politics: understanding the rules and regulations applying toyour business;

• Economics: gaining a knowledge and understanding of howthis impacts on your business via disposable income andinterest rates;

• Society: understanding how culture, fashion and evenpopulation changes can affect your business; and

• Technology: understanding how developments in equipment,techniques and method can impact on your business.

The second method is to use a SWOT analysis which producesan overview of a business idea by looking at its Strengths,Weaknesses, Opportunities and Threats.

Strengths and Weaknesses are issues within your own control.For example strengths in a business might include high levels oftechnical skills, a strong financial position, good customerrelations, high gross profit margins and low fixed costs. These arethe things that the business should utilise and build on.

Weaknesses require actions to address them. For many smallbusinesses the lack of formal business skills within themanagement team can be a weakness and should be addressedthrough training or, if the business can afford it, perhaps bybuying in the skills required. Insufficient working capital isanother common weakness in small businesses and might beaddressed by better credit control or by securing an overdraftfacility depending on the underlying cause.

Opportunities and Threats reflect the external environment inwhich you operate and identifying and understanding them willhelp you develop your risk strategy and also keep you aware ofany opportunities that might present themselves. This sectionshould include things like potential legislation, new technologyand your competitors.

Your customersOnce you have done this analysis you need to build up a profileof your customers - after all, they are whom you will rely on tomake your business or product successful. You’ll need to focusyour efforts on finding out as much as you can about existing andpotential customers. Who are they? What are they looking for?Where do they currently buy the product or services from andwhen? Why do they choose one shop/supplier over another?

Researching your marketAll successful businesses need to have a comprehensive understanding of their existing and potentialcustomers and the marketplace they work in. This is crucially important when you are starting up anew business.

Developing your business idea into a viable product or service is a critical part of building a business. Thorough assessment andmarket research at an early stage will help you to establish whether there is a market for your product or service and therefore whetherthere is a potential for success or failure. This section explains the fundamentals of market research, how to conduct your marketresearch, why it is important to understand your market, and how it changes.

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How do you communicate with them about your product andensure they will want it?

For business customers, you’ll want to know how big theirbusinesses are, what sectors they’re in, and who makes thedecision to buy your product or service. And if you’re targetingindividual consumers, it may be useful to know such things astheir gender, age, occupation, income, lifestyle, attitudes orsocial class.

You will also need to analyse where your customer base livesand determine whether you are located in the right place so thatthere are enough people to support your business.

The competitionUnderstanding your competition is also vital. Who is alreadysupplying your potential customer with what you can offer?And if there is no one offering an equivalent product or service,then what are the alternatives from the customers’ point of view?It is only by understanding your potential customers that you areable to identify the competition in the first instance. Once youhave researched the customer base and the competition, youcan clarify your Unique Selling Points (USPs) and focus on theright target market rather than the whole market.

SuppliersFinally, consider your suppliers so that once demand comes infrom customers you can meet it. Consider how stable yoursource of supply is. Are there any potential problems with theavailability and regularity of supply and deliver? Can you getcredit from them? And don’t be reliant on one or two suppliers -have a solid shortlist and a back up option too.

The final important fact to remember is that market research isnot limited to start-ups. It is an ongoing activity, with anyinformation gathered used in order to stay one step ahead of themarket. And that’s where you want to be to be successful.

• market research involves understanding howyour industry or product will work and where itwill fit into the marketplace.

• you need to consider whether your ideasatisfies or creates a market need.

• understanding your customer profile will helprealise your potential.

• analysing your competition will help you defineyour Unique Selling Point.

Did you know…

“Your most unhappy customers areyour greatest source of learning.”

Bill Gates, Founder Microsoft Corporation

Researching your market

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OverviewThe one essential tool for raising funds for your business is acomprehensive business plan. This sets out how your businesswill operate and should be regarded as a route map for achievingwhat you want with your business. Your business plan will helpyou focus your ideas and should be produced whether or not youneed to raise finance for your business. It should include afocused summary of the business itself, financial projections, anoutline of the marketing strategy and a thorough evaluation ofthe market.

Your financial projections must be more than just a profitforecast. They should include a cash flow projection and aprediction of how the company’s balance sheet will look at theend of the forecast period. By preparing these financial forecastsyou can test the viability of your business idea before you commitany money to it - a great way to see if it will work without actuallylosing any money.

Your business plan must be succinct or it will be discarded longbefore the investor reaches the end of it. It must also have anexecutive summary at the beginning highlighting all the key factsand what they have been based on. Explaining this succinctlywill ensure your plan is seen in a much more professional lightand investors will understand the background to your venturefrom the start.

You should also include a sensitivity analysis because the onlycertainty about business forecasts is that they are usually wrong- but by how much, in which direction and why is not so clear?Business plans need to recognise this and identify what theimpact will be if, for example, the business misses its sales targetby 5 per cent in the first year.

Once drafted, the business plan must be shown to experiencedbusiness consultants who can ask all those difficult ‘but what if?’questions. Set aside your ego and listen to what they saybecause if changes to the plan are necessary, your pride musttake second place to good advice. Accepting external input isessential for success in any business. Few lenders or investorswill simply hand over money to entrepreneurs and wait patientlyfor a return on their investment.

Finer detailsThe following highlights the five key areas your business planshould include:

1. Introduction

• Briefly outline details of your business - its name, address,telephone/fax number, the name of the owners/partners, thestart-up costs and total funding requirement. Also include atable of contents.

• Include CVs of your business partner(s) highlighting workexperience and education. Place particular emphasis on theskills you have that are relevant to running your business -for example; mention any book-keeping experience.

• Describe in detail your business’ product or service. Go intoenough detail so that someone who has little knowledge ofyour type of business will be able to understand what you aredoing - so avoid using jargon or highly technical terms.Also include details of the other products or services involvedin making and producing your item, for example; raw materials.

• Objectives: provide a brief outline of what you hope yourbusiness will achieve in the short term (next 12 months),the medium term (next 2 years), and the long term (3 yearsand more).

• Legal issues: indicate which trading style (for example; soletrader) your business adopts, and show that you know whatlegislation is relevant to your business and that you areadhering to it. (see Legal Requirements section).

2. Resources

• Premises: where will your business be based? You may bebased at home or choose to take on business premises.Justify the decision you make, outlining the legal implicationssuch as costs and length of leases, plus layout, size andusage, physical alterations and any refurbishments required.(see Finding Suitable Premises section).

• Include details on production methods or service delivery,suppliers, credit terms and stock control.

• Include details on staff policy and wages, health and safety,and insurance.

3. The Market

• You must be able to show that there is a demand for yourproduct or service - that customers will want to buy from you.Your market research (see Researching your market section)will demonstrate this. You will also need to show how you willpromote your product or service and the associated costs.

4. Finance

Financial information: this is the most important section of theBusiness Plan (see The Business Plan section) because yourbusiness has to make money. Business Link or your localEnterprise Agency can help you put together the figures andall other aspects of business planning. You will need to includethe following:

• Financial requirements: explain what you need to raise moneyfor, how much you will need and where you will get it (seeRaising Finance section). Include capital costs (equipment, car),

The business planThis section sets out the key components of a business plan and how to write one.

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initial stock purchase and initial running costs (anything youhave to pay - for example wages - before you receive salespayments).

• Pricing: demonstrate how you have arrived at your chosenprices for your products or services, and show how theseprices compare with those of your competitors.

• Break even analysis: this shows the level of sales needed tocover all your costs.

• Profit forecast: this shows when sales and purchases areactually made (rather than the payment and receipts in thecashflow), and will allow you to calculate the profit you expectto make.

• Cashflow forecast: this shows when you will be paid for thesales you make, and when you have to pay for purchases youmake and expenses you incur.

• Assumptions: show how you have arrived at the figures in theprofit and cashflow forecasts - how much you will sell andwhen - and make the assumption that your customers willtake 60 days to pay. If you are providing equipment youalready own for use in the business, make this clear.

5. The Future

Realistic assessment of the medium-term prospects of thebusiness.

6. Appendices

• Include CVs of key personnel including details of pastemployment responsibilities, qualifications, skills andbackground, plus any other directorships and businessinterests.

• Extract from the lease of business premises, if relevant.

• Certificate of incorporation (if a limited company).

• Up-to-date management accounts and end-year accounts -in the case of existing businesses.

Advice on how to develop your business plan is available fromBusiness Link (08457 17 16 15) or your bank. Your accountantor financial adviser can help you prepare your business plan(but please note that you may have to pay for this advice).

• your business plan is the one essential tool forraising finance.

• how you develop your business plan could beyour make or break point.

• you must provide precise cash flow forecaststo demonstrate if your business will be viableor not.

• you should get some good external advicebefore you launch your business - and takethe advice on board.

Did you know…

“Drive thy business or it will drive thee.”Benjamin Franklin, American printer, scientist and

congressman (1706-1790)

The business plan

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Choosing a legal structure -the pros and consIf you are a sole trader, a partner, or a member of a limited liabilitypartnership as an individual rather than a company, you will beself-employed. If you are not sure whether your work counts asself-employment, will you:

• present your clients with invoices for the work that you dofor them?

• carry out work for a number of clients?

• be responsible for the losses of your business as well as takingthe profits?

• hire other people on your own terms to do the work that you’vetaken on?

• have control over what work has to be done, how the workhas to be done, the time when and the place where the workhas to be done?

• be investing your own money in your business or partnership?

• provide any major items of equipment which are a fundamentalrequirement of the work you carry out?

• and have to correct unsatisfactory work in your own time andat your own expense?

If you have answered yes to most of these questions then youare self-employed - and should be registered with HM Revenue& Customs (www.hmrc.gov.uk) within the first three months oftrading. You may be fined £100 if you fail to register within threemonths of becoming self-employed. Note that there is no fee forregistration with HM Revenue & Customs.

For most new businesses, operating as a sole trader is the leastcomplicated and most common business structure. There is noneed to register the business (although you need to informHM Revenue & Customs of your self-employed status). If you arenot trading under your own name you must disclose your companyname and address on your stationery. An audit is not necessary,but HM Revenue & Customs will need to see accounts, especiallyif your sales are more than £15,000 a year. Personal income taxat normal rates is payable on trading profits.

Class 2 National Insurance contributions are paid weekly at a flatrate, while Class 4 contributions are based on the profits you

make and are paid with your tax payments. It is advisable toopen a business bank account to keep business moneyseparated from personal money. Free advice on all aspects ofNational Insurance is available from your local ContributionsAgency office or you can call 0845 607 0143. If you operate asa limited company, National Insurance contributions will be paidat the same time as your income tax through PAYE.

If a sole trader’s business fails the owner is personally liable forall the business’ debts which means your home or other assetsmay be at risk if your business runs into trouble.

In a partnership, two or more people share the risks, costs andresponsibilities of being in business through a written agreementdrawn up by a solicitor. This Deed of Partnership costsapproximately £100 and indicates how profits will be distributed,losses apportioned and how goodwill is to be valued on thedeath or retirement of one of the partners (the partnership mustbe dissolved but the business may not need to cease).Each partner is self-employed, raising money for the businessout of their own assets and/or with loans, and taking a share ofthe profits. They share in the decision-making and are allpersonally responsible for any debts that the business runs up.

The partnership itself and each individual partner must submitannual self-assessment returns to HM Revenue & Customs andmust keep records showing income and expenditure. Tax andNational Insurance are treated in much the same way forpartners as they are for sole traders.

Limited Liability Partnerships (LLP) are available for businessesowned by two or more people. It is similar to an ordinarypartnership in that the individuals or limited companies share inthe risks, costs, responsibilities and profits of the business, andwill be taxed like a partnership, but the liability is limited to theamount of money the partners have invested in the business andto any personal guarantees they have given to raise finance.This means that members have some protection if the businessruns into trouble. Should the LLP become insolvent, it will betreated similarly to a Limited Company.

The LLP itself and each individual member must submit annualself-assessment returns to HM Revenue & Customs, and accountsmust be filed with Companies House. Individual members of theLLP are taxed on their share of profits and pay the tax and NationalInsurance contributions according to their business structure, whilsta limited company member will pay Corporation Tax.

Legal requirementsThis section provides an overview of the main legal issues that apply to running a business,explaining where to go for help. It is by no means exhaustive, and should you be in any doubt, seekadvice from a solicitor.

To put your new business on a proper footing with HM Revenue & Customs and other authorities, you need to make sure that ithas the right legal structure. It’s worth thinking carefully about which structure best suits the way that you do business becausethis will affect the tax and National Insurance that you pay, the records and accounts that you have to keep, your financial liabilityif the business runs into trouble, the ways your business can raise money and the way management decisions are made aboutthe business.

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Limited companies are legal entities in their own right that cansue, and can be sued. The main advantage of a limited companyis that the company’s owners (shareholders) are only liable forthe amount remaining unpaid on the shares for which they havesubscribed. However, the capacity of a company to borrow mightbe restricted unless the directors are prepared to personallyguarantee any loans they obtain from banks and other financialinstitutions.

You can form a limited company yourself atwww.companieshouse.gov.uk, buy an ‘off-the-shelf’ companyfrom a company registration agent (see Yellow Pages), or aska solicitor or accountant to form a company for you.Limited companies are subject to legal requirements affectingdisclosure of information: names and addresses of directorsmust be filed at Companies House, as must annual accountsand details of shareholders.

A limited company’s taxation is treated differently to that of a soletrader or partnership. The profits of the company are subject tocorporation tax and losses can be carried forward to the nextyear’s trading accounts. The directors of a company areemployees and are therefore paid salaries, with personal incometax deducted through PAYE. Depending upon your financialstatus, the formation of a limited company may or may not havebeneficial tax implications.

A social enterprise is a business with primarily social objectiveswhose surpluses are principally reinvested for that purpose inthe business or in the community, rather than being driven by theneed to maximise profit for shareholders and owners.

Within this definition, social enterprises can take on a variety oflegal forms, including:

• unincorporated associations;

• trusts;

• limited companies;

• some industrial and provident societies such as communitybenefit societies;

• Community Interest Companies; and

• charitable incorporated organisations.

Social enterprises also need to consider whether or not to setthemselves up as a charity, which has a number of benefits,including significant tax reliefs, but comes with increasedregulation and less flexibility. Further information can be found atwww.businesslink.gov.uk using the Starting Up site map.

And finally, Co-operatives are a simple way for two or morepeople to go into business together as equals. A co-operative isnot a separate legal structure. It is usually based on a company,but with special rules that give everyone who works for thebusiness a share of ownership and a say in the business. It givesmembers the advantage of limited liability whilst also giving themthe rights of employees on PAYE. Co-operatives can also beformed from existing businesses, for example through anemployee buy-out.

Business namesIf you form a limited company, your company name and otherdetails have to be registered with Companies House. Before youfill in the forms, check that your name doesn’t break any rules.Ensure it:

• ends with limited, plc, Ltd or Welsh equivalents. This must notbe used anywhere other than at the end of the name;

• isn’t offensive;

• isn’t the same as - or very similar to - one already in the register;and

• doesn’t include any sensitive words or expressions - unless youhave obtained permission to use them.

It’s also a good idea to check that your proposed name is notalready in use or too similar to a word or expression thatsomeone else has registered as a trademark. Failure to do socould result in legal action. Use the Companies House databaseto check limited company names, or check the UK-IntellectualProperty Office (UK-IPO) website to check that your name or titleis not in use (www.ipo.gov.uk/). Limited companies that tradeunder a name other than that of their limited company shouldalso check that the title or name is not already in use by anybusiness or company.

If your business is to have its own website you will need toregister your own unique Domain Name to help people find yoursite on the internet. Most Domain Names are registered throughan Internet Service Provider (ISP) who will act as your agent.To check if your preferred domain name is available visitwww.nominet.org.uk.

VATIf you expect your annual turnover to exceed the registrationthreshold of £70,000, or if you anticipate supplying taxablegoods and services valued at more than £70,000 in a 30-dayperiod alone, then you must by law be registered for VAT.You may be liable to financial penalties if you don’t register.If your business’ turnover is below the registration thresholdyou can register voluntarily so VAT can be reclaimed onpurchases of equipment, goods and services. Contact your localVAT office - they can advise you, give you a copy of a bookletcalled ‘Should I be registered for VAT?’ and send you therelevant registration forms.

Working from homeMany small businesses are started from home but do check withyour local authority that planning permission is not required. Alsocheck your tenancy agreement or the deeds of your property toensure that you are not prohibited from running a business fromhome. Your household insurance policy is unlikely to coverbusiness equipment so contact your current insurer to get coverextended. If any part of your home is used exclusively forbusiness purposes it may be subject to the Uniform BusinessRate and subject to Capital Gains Tax upon sale.

Legal requirements

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LicencesCertain businesses require a licence to operate:

• For cinemas, theatres, child minding, private hire, publicentertainment, nightclubs, pet shops, boarding kennels, scrapmetal dealing, residential care, nursing homes and agencies,street traders and indoor sports venues - apply to your localauthority licensing department.

• For sale of alcohol in shops, public houses, clubs, nightclubs,restaurants and hotels - apply to your local authority licensingdepartment.

• For hotels, restaurants, abattoirs, hairdressers, mobile foodsales, massage, skin piercing and tattooing, work involvingasbestos - apply to your local authority environmental healthdepartment.

• For Heavy Goods Vehicles or Public Service Operators (busesand coaches) - apply to the Vehicle Operator and ServicesAgency on 0300 1230 9000 or at www.vosa.gov.uk

• For licences for betting shops and other gaming establishments- apply to your local magistrates’ court (see telephone book).

• For money lending, offering and arranging credit, debtcollecting, issuing credit cards, operating a credit referenceagency, hiring, leasing or renting out goods, you may need acredit licence. For clarification and a licence application form,contact Consumer Credit Licensing at the Office of FairTrading on 020 7211 8000 or at www.oft.gov.uk.

Health and safetyAs an employer you have a legal responsibility for your ownhealth and safety at work as well as that of your employees,visitors to your premises, people at other premises where you maywork (such as a construction site), members of the public andanyone affected by products and services you design, produce orsupply. Health and safety legislation is about preventing peoplefrom being harmed at work or becoming ill by taking the rightprecautions and providing a satisfactory working environment.

Implementing good health and safety practices will help youcomply with the law and provide an acceptable workplace.Poor health and safety leads to illness and accidents andsignificant costs for your business. If you employ five or morepeople there must be a written statement of health and safetypolicy in your workplace and you must register your businesswith the Health & Safety Executive or your local authority.Contact the Health and Safety information line for advice on0845 345 0055 or visit www.hse.gov.uk.

A risk assessment of your business premises should beundertaken by a qualified professional to see if there is a chance- whether it is high or low - that someone or something could beharmed by a hazard - for example; chemicals, electricity orslippery floors.

You also need to comply with certain specific legal requirementsincluding recording and reporting accidents, consultingemployees or their safety representatives on health and safety

matters, and ensuring your employees understand and carry outtheir responsibilities for health and safety.

Finally, you must comply with the smoking ban in public places,workplaces and company vehicles used by more than one person.

Trading regulationsYour local Office of Fair Trading or local authority will be able toadvise you on local trading regulations such as opening hoursand Sunday trading.

EmploymentIf you employ people you have certain duties towards them such asthe provision of a contract of employment and adherence to fairdisciplinary procedures and take out Employers’ Liability Insurance.For advice on employment issues, contact the AdvisoryConciliation and Arbitration Service (ACAS) on 0845 747 4747 orvisit their website: www.acas.org.uk.

InsuranceThere are certain minimum requirements that your business musthave by law. If you employ people you must have Employers’Liability Insurance to insure your employees against risks causedby the nature of their employment and provide cover againstclaims made by employees for injuries or illnesses they’vesuffered as a result of working for you. If you own cars you musthave third party motor insurance. Your insurance broker will beable to advise you about the other types of insurance for you oryour business but you should consider the following:

• Public Liability Insurance, which protects your business if it issued as a result of injury or damage to third parties or theirproperty caused by your or your employees’ negligence.

• Product Liability Insurance, which should be considered if yourproducts may cause injury or damage to third parties.

• Fire Insurance, which is advisable if there are business assetssuch as property, machinery or stock which could be damagedby fire, explosions or floods.

• Consequential Loss, which covers your business for loss ofprofits if some peril, such as fire or theft, prevents your businessfrom trading for a period of time.

• Goods in Transit Insurance, Theft Insurance and MoneyInsurance, which protects cash or goods in transit or when onbusiness premises.

• Fidelity Guarantee Insurance, which protects against lossescaused by dishonest employees.

• Engineering Insurance, to insure certain plant againstbreakdown or damage or causing danger to third parties.The Factories Act requires that plant is checked by acompetent engineer.

• Personal Health and Sickness Insurance, and PermanentHealth Insurance, which pays your wage if you are unableto work.

Legal requirements

1. Lawyers for Your BusinessTel: 020 7242 1222.www.lfyb.lawsociety.org.uk

2. British Insurance Brokers AssociationTel: 0870 950 1790. www.biba.org.uk

3. Companies HouseTel: 0870 333 3636.www.companieshouse.gov.uk

4. Health and Safety ExecutiveTel: 0845 345 0055. www.hse.gov.uk

5. HM Revenue and CustomsTel: 0845 915 4515. www.hmrc.gov.uk

Useful contacts

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However, insurance is only a back-up. Accidents are not alwaysthe result of exceptional circumstances - they can and do happenin the course of everyday business. Some planning and simpleactions can usually prevent most incidents from occurring.

Data Protection ActIf you keep details of ‘living, identifiable individuals’ on computer,even just names and addresses, you will need to registeryour business with the Information Commissioners Office.Call 01625 545745 for an information pack or visit their websitewww.ico.gov.uk.

Intellectual propertyWhen you start a new business, you should think about protectingthe valuable assets you have in the name, brand or logoassociated with your business or in the innovative product youmay have developed. Intellectual property rights protect theseassets: patents for inventions, registered trademarks for names,logos, slogans and brands, and registered designs for theexternal appearance of a product. Patent and trademarkattorneys can advise you on the best way to prevent otherscopying what you have created.

For more information contact the Intellectual Property Office, thegovernment body responsible for granting intellectual propertyrights in the UK, on 0845 950 0505 or visit www.ipo.gov.uk

Legal adviceA solicitor can guide you through the laws that relate to runninga business. Under the Lawyers for Your Business Schemeoperated by the Law Society, designated solicitors will offer afree initial legal consultation of at least half an hour. With themessage that ‘prevention is better than cure’, a solicitor willattempt to forecast the problems which may affect your businessand help you avoid costly problems later. The solicitor will tell

you what further help you need and how much it will cost.You are under no obligation to take matters further.

If you do not have a solicitor, you should call the Law Society on020 7242 1222. They will send you a list of Lawyers for YourBusiness (LFYB) members in your area. Simply choose one ofthe firms on the list and arrange an appointment, mentioningLFYB or visit the Law Society website at www.lawsociety.org.uk.

“Obviously everyone wants to besuccessful but I wanted to be lookedback on as being innovative, verytrusted and ethical and ultimatelymaking a big difference in the world.”

Sergey Brin, co-founder of Google search engine

Legal requirements

• you need to choose the right legal structure foryour business.

• your business must be registered with HMRevenue & Customs.

• you should insure your business for yourbenefit and that of your employees.

• designated solicitors will offer a free initiallegal consultation of at least half an hour tohelp you find your feet.

Did you know…

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Business planIf your business is to be a success then you must understandyour finances and keep track of them - and to do so meansunderstanding how your business operates. You will firstly needto develop a business plan which is a detailed model of how yourbusiness will operate, showing how you will fund the purchase ofcapital equipment and start-up costs, your outgoings, income,profit, loss and forecasts. This is a means of testing the viabilityof your business idea without actually risking any money, but isessential to have when trying to raise finance for your business.

More information on developing business plans is available inThe Business Plan section.

Raising moneyOnce your business plan is finalised you will need to raise financeto run your business. Most businesses will use a combination ofsources to raise the necessary money, and choosing the rightone may be crucial to your business.

Your own resources

Do you have your own money to invest in your business, orperhaps your family wants to invest in it? Funding your businessfrom your own resources provides you with a greater determinationto succeed - after all, no-one wants to lose their own money andyou won’t have to worry about making loan repayments.Self-investing will also give greater confidence to other lenders -banks and other financial institutions - who will be reassured that ifyou have invested your own money you won’t want to fail.

Banks/building societies

These are an obvious and important source of finance for manysmall businesses. When you start in business you will need abusiness bank account so you can keep your personal financesseparate from your business finances. Most banks offer freebanking facilities for new businesses in their first year of trading.

There are two types of loans available, as follows:

• overdrafts - a source of short-term finance normally used forworking capital purposes; and

• loans - a source of longer-term finance with regular repayments,normally used for the purchase of capital equipment.

Banks are careful lenders. They will need to be convinced thatyou have a viable business and will be able to repay the moneyyou borrow from them. If you put your own money into yourbusiness and can offer the banks some form of security againstit (for example your house), then you stand a much greaterchance of success with your loan application.

Small Business Loans

Small business loans are available through Foundation Eastfor new and existing businesses and social enterprises.For information telephone 01284 757777 or go to the websitewww.foundationeast.org/page/business-loans

Enterprise Guarantee Scheme

This scheme has replaced the Small Firms Loan GuaranteeScheme.

Under the Enterprise Finance Guarantee, the Governmentwill guarantee lending to viable businesses to ensure that theycan get the working capital and investment that they need.

This is not because the business has suddenly transformed from asuccess to a failure; but because the current economic conditionshas made a significant impact on the availability of capital as thebanks change their approach to risk and tighten lending conditions.

The £1bn Enterprise Finance Guarantee (EFG) Scheme willsupport up to £1.3bn of new lending by banks to viable SMEs withworking capital or investment needs.

Who will benefit from the scheme?The EFG Scheme is open to businesses with an annual turnoverof up to £25m, seeking loans of £1,000 to £1m, repayable overa period of up to 10 years. Most businesses in most sectors willbe eligible for the scheme. However, state aid rules excludebusinesses in the agriculture, coal and steel sectors.

What sorts of lending will this cover?The guarantee can be used to support new loans, refinanceexisting loans or to convert part or all of an existing overdraft intoa loan to release capacity to meet working capital needs.

How much of the loan will Government guarantee?Government will guarantee 75 per cent of the loan.

How long will the scheme run for?EFG will be available from Wednesday 14 January 2009 and willoperate until March 2011.

Grants

Incentive funding programmes are available from national,regional and local sources but usually only for specific projectssuch as the development of a new product or the setting up of aspecific training programme. Before commencing your projectcontact Business Link to undertake a grant search.

Asset finance

Long-term assets should be financed from long-term funds, hirepurchase (HP) or lease finance (renting an asset for most of its

Raising financeThis section explains the importance of having adequate funding to support your business, how thebusiness plan plays a central role in raising finance and what options are available if you need toraise finance.

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useful life). This is the best way to finance an asset if your businesslacks security, plus there may be tax advantages to doing this.

Factoring and invoice discounting

If you want to improve the cashflow of a healthy, growingbusiness then this may be the best route, with a financial advancesecured against the business’ outstanding invoices. Finance isautomatically linked to turnover increasing as sales increase.

Venture capital (including Business Angel)

Some businesses may be attractive to venture capitalists who willtake a share in your business in return for providing finance (thinkBBC TV’s ‘Dragons’ Den’). Potential investors include venturecapital funds, another business or a private investor (aka BusinessAngel, who will generally provide funds below the normal amountprovided by Venture Capital funds). The main advantages are:

• no capital or interest payments;

• the investment of new management skills; and

• a strengthened balance sheet due to equity investment.

The Prince’s Trust

The Prince’s Trust helps young people set up businesses byoffering them advice and finance. The Trust offers:

• loans of up to £4,000 for an individual and £5,000 for apartnership, with reasonable repayments;

• grants of up to £1,500 in special circumstances; and

• market research or test marketing grants up to £250.

The Prince’s Trust is particularly keen to get involved withdisadvantaged or unemployed young people, but is not a lenderof first resort, only considering applications from those who areunable to obtain finance from other sources. If you are interestedin applying for a Prince’s Trust grant, you must fall within thefollowing categories:

• you must be between 18 and 31 years old;

• no partners (if applicable) over 30 years old allowed;

• you must be unemployed and underemployed; and

• be unable to obtain finance elsewhere.

For more information please contact The Prince’s Trust on01473 228844 or visit www.princes-trust.org.uk.

CompetitionsIf you are 16 to 30-years old and thinking of starting up inbusiness, LiveWIRE can put you in touch with organisations thatcan help. LiveWIRE publishes free booklets and runs an annualbusiness plan competition with cash prizes and widespreadpublicity. Call 0845 757 3252 or visit www.shell-livewire.org forfurther information.

A specialist adviser in access to finance is available at BusinessLink and will give guidance in your funding search. Seminars andworkshops are frequently run to aid customers.

Keeping the booksOnce you have raised the money for your business you needto keep track of where it is going - this is called book keeping.Book keeping is a legal requirement for all businesses and willenable you to stay abreast of your income and outgoings and,therefore, keep effective control of your business. Essentially:

• every business registered for VAT has to keep its recordsaccording to guidelines laid down by HM Revenue & Customs;

• HM Revenue & Customs requires every business to keepproper records for the calculation of tax liabilities and forPAYE. If you fail to do so you could end up paying much moretax than necessary;

• records are required for year-end accounts. If you haveborrowings from a bank they will require these to see howyour business is performing; and

• you need regular information to ensure that margins aremaintained and profits are on target. Accurate record keepingis essential to provide information for managing the business.

There are many computer-based programmes available now tohelp you make light work of book keeping and ensure you keepyour records up to date. Advisers at Business Link or anaccountant can recommend a system that is suitable for yourbusiness and advise on the records you need to maintain on thecomputer and in paper form.

Useful contacts

1. Prince’s TrustTel: 01473 228844. www.princes-trust.org.uk

2. Shell LiveWIRETel: 0845 757 3252. www.shell-livewire.org

3. British Venture Capital AssociationTel: 020 7025 2950. www.bvca.co.uk

4. The Asset Based Finance AssociationTel: 020 8332 9955. www.abfa.org.uk

5. Finance & Leasing AssociationTel: 020 7836 6511. www.fla.org.uk

6. British Business Angels AssociationTel: 020 7089 2305. www.bbaa.org.uk

“Make sure your figures stack up.Nobody is going to be interested indoing business with you if they can’tsee a financial return.”James Caan, CEO Hamilton Bradshaw and BBC2 Dragon

Raising finance

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Marketing strategy

Successful marketing is dependent upon the development

of a marketing strategy - without one, your efforts to attract

customers are likely to be a bit ‘hit and miss’. The focus of your

strategy should be about understanding your customers so

that your products and services meet their needs better than

those of your competitors. It should also help you develop long-

term and profitable relationships with your customers, making

you their preferred supplier. It may also help you identify new

markets to target.

A key element often overlooked is that of monitoring and

evaluating how effective your strategy has been. This not only

helps you see how the strategy is performing in practice, it can

also help inform your future marketing strategy. A simple device is

to ask each new customer how they heard about your business.

Marketing plan and activity

Once you have decided on your marketing strategy, draw up a

marketing plan to set out how you will execute and evaluate the

success of that strategy. The plan should set out clear objectives

based upon your strengths and weaknesses, and should always

follow the SMART rule, as follows:

• Specific: for example, you might set an objective of getting

ten new customers or reaching a certain sales target.

• Measurable: whatever your objective is, you need to be able

to check whether you have reached it or not when you review

your plan.

• Achievable: you must have the resources you need to

achieve the objective. The key resources are usually people

and money.

• Realistic: whilst you should set targets that stretch you,

there is no point in being too ambitious.

• Time-bound: you should set a deadline for achieving your

specific objectives, so you might aim to get your ten

new customers or reach that certain sales target within the

next 12 months.

Once you have decided what your marketing objectives are, and

your strategy for meeting them, you need to plan how you will

make the strategy a reality. Many businesses find it helpful to

think in terms of the four Ps:

• Product: what your product offers - time, creativity or a

service - that your customers value, and whether/how you

should change your product to meet customer needs.

• Pricing: for example, you might aim simply to match the

competition, or charge a premium price for a quality product

and service or you might choose either to make relatively few

high margin sales, or sell more but with lower unit profits.

Remember that some customers may seek a low price to

meet their budgets, whilst others may view a low price as an

indication of poor quality levels.

• Place: this considers how and where you sell, so you make

it easy for your customers to access your product. This may

include using different distribution channels, for example

selling over the internet or through retailers.

• Promotion: using the best opportunities to reach your

existing and potential customers. For example, you might

use advertising, PR, direct mail, personal selling and, of

course, the internet. Limit your activities to those methods

you think will work best, which will avoid spreading your

budget too thinly.

If you are selling a service, you can extend the four Ps to seven

Ps, taking into account:

• People: ensuring that you have the right employees with the

right training to hit your sales targets.

• Processes: ensuring that the right processes are in place so

you can offer a consistent service that suits your customers.

• Physical evidence: making sure the appearance of your

employees and premises gives the right image to your

customers. Even the quality of paperwork, such as invoices,

makes a difference.

Whichever methods you choose, you need to keep up the

marketing momentum to retain a regular flow of sales and work.

Marketing - Winning customersThis section explains how to create a good marketing strategy and plan which can be used as aneffective tool to win customers. It also explains how you can market your product and provides somebest practice advice to attract new customers.

Having researched your market thoroughly (see Researching your market section), your attention now needs to turn to the actualmarketing of your company and/or your product to generate work/sales. Marketing is key to the success of any business and involvesunderstanding which customers you will target and how you will reach them. It ensures that you keep existing customers happy butalso helps you decide how you are going to win new customers. And you need to keep reviewing and improving everything you do tostay ahead of the competition.

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Forecasting and targets

Once you have made your key decisions and determined your

strategy, you are now ready to forecast the results. A sales

forecast is a month-by-month forecast of the level of sales you

expect to achieve and is an essential tool for managing a

business of any size. Most businesses draw up a sales forecast

once a year, basing it on their knowledge of likely customer

buying patterns, as follows.

• How many customers and sales can you expect each month?

• What is the average spend on each type of sale?

• What seasonal variations exist?

• How and when will you be paid?

• What is the maximum level of sales possible in a year?

• What level of sales do you require to break even?

• What lead times and conversion rates can you expect from

your promotion?

Once this is done, an action plan can be produced as follows:

• Who is going to do what and when?

• How long must each activity be sustained?

• How often should it happen?

• How much will it all cost?

Finally, calculate how much money needs to be allocated to

each month’s activity. This becomes your marketing budget

which can be transferred into your business plan.

• a comprehensive marketing plan will lead tosuccessful marketing.

• make sure you are SMART about yourmarketing objectives.

• forecasting your sales will help you keep tobudget - and keep track of where you wantto be.

Did you know…

“Really successful people don’tlive in the present. They imaginethe future and visualise what theircustomers want.”

Robin Rowland, CEO, Yo Sushi!

Marketing - Winning customers

14

Working from homeDifferent options suit different businesses. If all you need is asmall office space then working from home may be a much betteroption than renting or buying business premises. However, youwill need to think about properly equipping your workspace, soget yourself a comfortable workstation and consider any potentialhazards to yourself, workers, visitors and other members of yourhousehold and how you can reduce the risk of accidental damageto your work or equipment.

Working from home can also have important consequences foryour mortgage, insurance and tax position. For example, yourmortgage might not allow you to use your home for working, andyour insurance might be invalidated if you do so. There are alsolegal considerations - you might need planning permission, oryou may become liable to business rates. Even if you just havea small home office, or work on client premises, you’ll need tothink about health and safety. You must carry out a health andsafety risk assessment, taking into account the kind of work youdo and the risks to other people.

You will also need to think about how to separate your work andhome life when both take place in the home. You need to avoidbeing disturbed when you are working but also need to be ableto relax during your time off, without being interrupted by work.

Renting or buying premisesRenting or buying premises outright may be the best route, butthere are a number of important factors to consider before youmake the move. The first is the cost of premises. After wages,premises are the second highest overhead for most smallbusinesses and can include:

• initial purchase costs, including legal costs such as solicitor’sfees;

• initial alterations, fitting out and decoration;

• any alterations required to meet building, health and safetyand fire regulations;

• ongoing rent and service charges;

• business rates;

• continuing maintenance and repairs; and

• building and contents insurance.

With a typical lease, you agree to occupy the premises for a fixednumber of years and pay an agreed rent, though the lease mayallow the rent to be reviewed periodically. Upfront costs for

leasing premises are often relatively low, though you may pay apremium to purchase the lease. Sometimes you may have toprovide a refundable deposit. You should also take into accountthe legal fees.

However, there are disadvantages to renting. You may havesignificant maintenance and repair or other obligations andrestrictions. You may also have difficulties if your needs changeand you want to move before the lease ends.

If you do choose to buy, it can have several advantages asfollows:

• you control your own premises and can stay there as long asyou like;

• you can choose to occupy the premises yourself, rent them tosomeone else, or sell them;

• your costs are relatively fixed, particularly if you have afixed-rate mortgage, whereas rents can increase significantlyover time;

• you can alter the premises to suit yourself - subject to legalrestrictions; and

• over the long-term, the value of the property may rise.

Against this, you have to weigh the disadvantages. Buying propertyis an expensive and often time-consuming process, involvingsignificant professional fees and stamp duty. You’ll also beresponsible for all the maintenance and repairs. If your needschange, selling the property can be difficult and expensive, andyou might find that the value has fallen.

Other factors you need to think about include:

1. The type of premises you need: retail space includes marketstalls, retail accommodation with short-term licences andtypical high street shops. Industrial space includes factoryspace and small workshops in managed workspaces.You may require office space of the type available in anumber of managed business centres and serviced officeschemes. Whatever type you need, the correct size andlayout are critical.

2. Your physical requirements: this includes access hours,provision of central services such as photocopying, typing,natural light, loading bays, furniture, water and drainage,three phase electricity, computer cabling, parking, comfortfacilities (kitchen and toilets) for employees and visitors andother services or structural requirements that are important tothe success of your business.

Finding suitable premisesChoosing the right premises is a key business decision. You want premises that help you operateeffectively without excessive costs, but you want to avoid being tied to premises that might not suityou in the future. This section will help you assess your requirements, advise you where to go to findthe right premises and show you what to be aware of before signing any agreement.

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3. Legal aspects: including planning permission to use thepremises for your type of business, and the flexibility to alteror expand the premises.

4. Long-term requirements: are the premises suitable for yourlong-term needs or would you need to consider moving tonew premises as the business grows (meaning more costs).

5. The importance of location: choosing the right location can besomething of a balancing act. Ideally, it should be convenientfor your customers, employees and suppliers - without beingtoo expensive. For shops and other retail businesses, yourlocation must attract customers. If you rely on passing trade,you want to be in an area where enough people who wantyour product or service can see you. For example, key cuttersare often located in or around train stations. You could alsobenefit from customers who are attracted by other shops in ashopping centre.

For employees, the best location is easy to travel to. Good publictransport links make it easier for employees who don’t live withinwalking distance. Employees also tend to prefer workingsomewhere with good local facilities. Or you may want to be nearsuppliers for a quick, flexible service. Deliveries may be easier ifthere are good road and transport links.

So decide how much you can afford to pay and build the cost ofpremises into your business plan and cashflow forecast. It isimportant that you do not take occupation of premises in the fainthope that the profits you make will cover your premises’ costs -they very frequently do not.

Finding suitable premises

Did you know…

“Once you decide to work foryourself, you never go back to workfor somebody else.”

Lord Alan Sugar, Founder Amstrad Corporation

• choosing business premises is one of themost important decisions you will make.

• after wages, premises are the second highestoverhead for most small businesses.

• you should always draw up a specification listso you get the premises you require, not thepremises you necessarily want.

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ComputersIt goes without saying that computers are at the heart of anyorganisation’s ICT system. They can be utilised in a number ofways, from stock control, record-keeping and sales promotion tocustomer profiling, database and financial management,research and more. And, of course, email and internet access.

Whatever your business, there are specialist software packagesavailable for all your requirements and an IT solutions companywill be able to tailor-make a suitable system that will save you timeand effort and transform the way you run your business.Think about how many computers you will need, whether theyshould be networked and whether laptops are better than desktopPCs. These days it is all about being accessible, so laptopsand wireless connections are becoming the obvious route.What printer do you require and will you need to share it with othercomputers in your office? If so, will you need a server or becreating a peer to peer network? Also think about what you will beprinting. If good quality output is very important then you will needa higher-spec printer that will cost more to buy - and to run. Andfinally, what other peripherals are you likely to need - a scanner,digital camera, back-up device or portable/removable hard drives?

Whatever system you install, ensure you regularly back up allyour data on a networked server or external hard drive, and signup for a maintenance and support contract for both theequipment and the software. You will be thankful for it when thecomputer system crashes - which it undoubtedly will.

EmailEmail is essential for your business, for keeping in touch withsuppliers and customers and for sending files and informationquickly and efficiently. Do shop around to find the right packagefor you as there is a huge choice of suppliers offering varyingoptions for different costs. When you’ve made your choice,ensure your email address reflects your website/domain name(see below). If your business website is www.website.co.uk, yourbusiness will look most professional if the email address reflectsyour website, for example; info@website.co.uk.

WebsitesA website can be a relatively low-cost way for a small business topromote itself to existing and potential customers. The technology

allows you to not only advertise your business and what it offers,but also to perform e-commerce (buying and selling) and othercomplex transactions online.

You should first decide what you want your website to say anddraw up a site plan diagram to demonstrate this. This can thenbe transferred into the website’s design by whomever youchoose to build the website. It is best to use the services of aprofessional web designer if you can afford to as designing agood website is difficult and complex. Establish how long it willtake the web designer to build the site and then ensure youagree on a final price and deadline date for them to work to - youcan’t afford a delay on the launch of your business. You mustalso consider whether you or the website designer will maintainthe website (keep it updated). The easiest way for this to happenis to have your website designed using a content managementsystem which enables businesses to maintain website contentthemselves. If this is the route you want to go down then ensureyou get the necessary training in the software used. But if youopt for the website designer to maintain the content, you need toagree a cost for the maintenance package and draw up aschedule for when the updates should be done.

You will also need to think about domain names and whether youwant a .com, .co.uk, .biz or any of the other available options,and finally you will need to find someone to host your site.The cost for this varies from a few hundred pounds a year tomany hundreds, depending on the complexity of the site.

With all this done, you then need to get the website noticedbecause having a great site is little use if no one visits it. You needto work hard to ensure that you get as many individual visits to yoursite as possible and having a good website name has a big effecton search engine rankings. It is, however, also important to have ashort but descriptive name that people can easily remember if theytry and find your business through a search engine such asGoogle. You also need to think carefully about how you want yourwebsite to be described - so each page should have an individualtitle describing the page topic. Also think carefully about the page’scontent, using relevant words specific to your business mixed inwith your page text as this is what the search engines look for whenthey look at your site. Make sure that the page content changesregularly so that search engines are kept interested.

You can get listed onto Google for free. All you need to do is tellthem that your site exists, by using www.google.com/addurl.html.

Information andcommunication technologyUnderstanding and utilising information and communication technology (ICT) is absolutely vitalin today’s hi-tech business world because it gives you the information you need to stay on top ofyour business.

With constant developments in ICT it is sometimes difficult to keep track of what is available and what is most suitable for yourneeds. However, it is important to understand your immediate and future requirements and make the best choice that fits these - withinyour budget.

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You also have to make sure that your site has some extrainformation in it called ‘meta tags’ and hope that ‘spiders’ readthem. This is not as strange as it might sound. Google often usecomputers to help them find interesting sites. Google is arguablythe best at doing this. It sends out search programs into theinternet called ‘spiders’ to find new websites. They ‘crawl’ aroundlooking for ‘meta tags’. These ‘meta tags’ are hidden from theuser when they look at a page, but are visible in the HTML code,and are specifically written so the ‘spiders’ pick them up.

However, Google also works in another way. The more timesanother site ‘links’ (that is mentions) yours, the higher up thesearch engine it goes.

E-CommerceAs well as helping you sell more through online trading, havingan ‘e-shop’ can really help you reduce your costs. Customers domost of the work for you by keying in their details on a securearea of your site, and card transactions can either be processedonline (through what is called a payment gateway - or an onlinecredit card transaction facility) or the details are stored in asecure area and then processed by hand. Either system is agreat way to start trading online but do note that there arecharges involved for the initial set up and for the use of a securepayment gateway. Payment gateways usually take a smallpercentage per sale which covers the cost of the transaction -for credit cards this is normally 3-4 per cent and debit cards areusually a flat fee of approximately 50 pence per transaction.

But don’t leave it there. Any information you get from thecustomers filling in their details on your site can be added to yourdatabase and be used for future marketing.

TelephonesNo business can operate without an efficient telephone system butthere are many competing suppliers all offering ‘the best’ deals oncombined landline/mobile/broadband packages. Before you invest

in any equipment, think about how many telephone lines andextensions you will need - and whether these can be increased ifthe business grows. Broadband is the obvious choice over slowdial-up connections because you can access the internet fromyour computer and use the telephone at the same time, but shouldyou consider combined broadband telephone services which allowyou to use the IP telephone to make cheap calls, especiallyoverseas, via the internet.

FaxesAlthough email is the main way of communication today, it is stillworth considering whether you need a fax. Faxed documents areaccepted as legal copies, including signed documents such ascontracts. Think about whether you need a dedicated fax lineinstalled and therefore need to buy a standalone fax machine, orwhether you could use computer-based fax software - whichmeans you can send and receive faxes with your computer.

PhotocopiersAs with the fax machine, is it really necessary for you to buy adedicated photocopier? If you feel you won’t need a photocopiermuch, many printers now double as scanners and photocopiersmeaning you can print or email documents from your computer.Or perhaps it would be cheaper to outsource photocopying to areprographic firm as and when necessary.

Did you know…

• computers are at the heart of all businessoperations.

• you need to make the best choice of computersystem to fit the requirements of your business.

• the internet can seriously boost your custom -so build a creative and effective website.

• you need to be insured against errors andfailures as insurance and maintenance arekey to continuity.

Useful contacts

1. Department for Business, Innovation & SkillsTel: 020 7215 5000. www.bis.gov.uk

2. E-Skills UKTel: 020 7963 8920. www.e-skills.com

3. Learndirect BusinessTel: 08000 150 750.www.learndirect-business.co.uk

4. Telecoms Advicewww.telecomsadvice.org.uk

5. Business LinkTel: 08457 17 16 15.www.businesslink.gov.uk/east

Information and communication technology

“The first rule of technology used inbusiness is that automation applied toan efficient operation will magnify theefficiency. The second is thatautomation applied to an inefficientoperation will magnify the inefficiency.”

Bill Gates, Founder, Microsoft Corporation

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Helping Suffolk businessessurvive and thrive

Business Link East is a free-to-use, independentbusiness advice service. It provides relevantup-to-date information on business issues such asstarting or expanding a business, managing people,marketing, finance, technology and exporting.

As the economic downturn continues to bite, the Governmenthas streamlined and increased the level of support availablethrough ‘Real Help for Business’, which can be accessed viaBusiness Link East. This includes small loans for business,grants for business investment and funding for training throughthe Train to Gain service.

As well as a team of experienced Business Link Advisers whowork with companies to check how healthy they are and developan action plan for growth and sustainability, Business Link Eastoffers several specialist services.

• Access to Finance Advisers diagnose the financial needs ofbusinesses, help them develop funding strategies and workwith them to enhance their appeal to lenders and investors.

• Skills Advisers work with companies to explore their trainingrequirements, develop staff training plans, provide details ofrelevant training providers and identify any available funding.

• Innovation Advisers offer focused and in-depth guidancearound innovation and increasing efficiency within a business.

Business Link East can be accessed face to face, by telephoneor through its award winning website.

To find out more call 08457 17 16 15,email questions@businesslinkeast.org.ukor visit www.businesslink.gov.uk/east

East of England Development AgencySolutions for Business is a suite of highly targeted, publicly fundedproducts and services offering solutions to real business needs andtackling market failure. Designed to drive qualifying businessesforward, it helps them to grow and succeeds by providing helpin a number of areas. These include starting up, understandingfinance, developing people, environment and efficiency, exploitingideas, international sales and marketing and growing yourbusiness. Your gateway to the Solutions for Business products andservices is Business Link, www.businesslink.gov.uk

To find out more about how the governmentis simplifying business support visit theSolutions for Business section of EEDA’S websitewww.eeda.org.uk

MENTA(Mid Anglian Enterprise Agency Limited)

MENTA helps Suffolk people start their own smallbusinesses, and then helps them to grow. We arein Bury St Edmunds, Ipswich and Haverhill.

Free advice and training: one-to-one consultations, workshopsand seminars, networking events.

Networking events: breakfasts, coffee mornings, lunches, tradefairs and more.

Premises: serviced business centres in Bury St Edmundsand Haverhill.

For more information call 01284 760206or visit www.menta.org.uk

NWES(Norfolk and Waveney Enterprise Services)

NWES specialises in helping people whoown a new or existing business by offeringfully-funded professional advice, excellentbusiness training courses and a loan fund

specifically for anyone who has been refused finance. We alsooperate a number of business centres offering lettableworkspace and virtual tenancy.

For more information call 0845 60 99 99 1or visit www.nwes.org.uk

Suffolk ACRE(Suffolk Action with Communities in Rural England)

Suffolk ACRE’s aim is to help communities inSuffolk to identify and tackle their needs throughcommunity action. Suffolk ACRE’s role is tosupport community groups and voluntaryorganisations to undertake self-help activities,

and enable communities to take ownership for their own well-being.

For more information call 01473 345300or visit www.suffolkacre.org.uk

Venture NavigatorVenture Navigator is a state-of-the-art on-line service designedto help start-ups, small businesses and entrepreneurs improvetheir chances of success. If you have a new idea or an existingcompany ready for growth, Venture Navigator can help you steera course to success! The service is free of charge.

Web: www.venturenavigator.co.uk

Business supportGetting good quality business advice, support and training can be vital both at the start-up stage andas your business expands.

DirectoryUseful telephone numbers and websites

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Suffolk Business Support - Building Business Success -offers advice and signposting to the following:

Business Support

Business Link 08457 17 16 15

Web: www.businesslink.gov.uk/east

Business Link will put you in touch with its business facingbrokers working on the ground to provide free and impartialsupport.

Suffolk Chamber of Commerce 01473 694807

Web: www.thebusiness-startup.co.uk

Princes Trust 01473 228844

Web: www.princes-trust.org.uk

Inspiring Women’s Enterprise 0845 60 99 99 1

Web: www.nwes.org.uk

Federation of Small Businesses (FSB) 0808 202 0888

Web: www.fsb.org.uk/suffolk

Ipswich and Suffolk SmallBusiness Association (ISSBA) 01473 659133

Email: kim@boleyn-events.com

Enterprise Agencies

MENTA 01284 760206

Web: www.menta.org.uk

NWES 0845 60 99 99 1

Web: www.nwes.org.uk

Suffolk ACRE 01473 345300

Web: www.suffolkacre.org.uk

Suffolk Universities & Colleges

University Campus Suffolk 01473 338000

Web: www.ucs.ac.uk

Suffolk New College 01473 255885

Web: www.suffolk.ac.uk

West Suffolk College 01284 716333

Web: www.westsuffolk.ac.uk

Otley College 01473 785543

Web: www.otleycollege.ac.uk

Lowestoft College 0800 854 695

Web: www.lowestoft.ac.uk

Forming a limited company

Companies House 0870 333 3636

Web: www.companieshouse.gov.uk

To form a limited company or limited liability partnership andget all the forms and guidance notes you need.

Paying tax as a self-employed person

HM Revenue & Customs working for yourself 0845 915 4515

Web: www.hmrc.gov.uk/selfemployed/register-selfemp.htm

To register as self-employed if you are going into business as asole trader or partnership.

HM Revenue & CustomsSelf Assessment Orderline 0845 900 0404

Forms, leaflets and factsheets on self assessment.

• Business development opportunities

• Business start up

• Contact points

• Diversification

• Environmental

• Exporting

• Finance & grants

• Financial advice & support

• Redundancy

• Rural businesses

• Tender opportunities

• Training, skills and development

www.onesuffolk.co.uk/suffolkbusiness

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Paying employees’ taxand National Insurance

New Employer’s Helpline 0845 607 0143

Web: www.hmrc.gov.uk/employers

To register as a new employer and receive a New Employer’sStarter Pack.

Employer’s Helpline 0845 714 3143

Web: www.hmrc.gov.uk/employers

Advice on paying employees’ tax and National Insurance.

Employer’s Orderline 0845 764 6646

Web: www.hmrc.gov.uk/employers/orderline.htm

Forms and guides on paying employee’s tax and NationalInsurance contributions as well as sick pay and statutorymaternity, paternity and adoption pay.

VAT

HM Revenue & Customs 0845 010 9000

Web: www.hmrc.gov.uk

To register for VAT and for advice and forms.

Business premises

Office of the Deputy Prime Minister 0300 123 1124

Web: www.opsi.gov.uk/official-publicationsEmail: ODPM@twoten.press.net

Free literature on planning permission.

Royal Institution of Chartered Surveyors (RICS) 0870 333 1600

Web: www.rics.orgEmail: contactrics@rics.org

Advice on land, property, construction and associatedenvironmental issues.

Valuation Office Agency (VOA) 020 7506 1700

Web: www.voa.gov.uk

Information on non-domestic rates payable on business premises.

Planning

Planning Portal

Web: www.planningportal.gov.uk

Free literature on planning permission covering land, property,construction and associated environmental issues.

Health and safety

Health and Safety Executive (HSE Infoline) 0845 345 0055

Web: www.hse.gov.uk

Information on health and safety rules for small businesses,free leaflets.

HSE Books 01787 881165

Web: www.hsebooks.co.uk

Free and paid-for publications on health-and-safety matters.

Protecting the environment

Environment Agency 0870 850 6506

Web: www.environment-agency.gov.uk/netregs

Information on complying with rules on environmental protection.

The Carbon Trust 0800 085 2005

Web: www.carbontrust.co.uk

Envirowise 0800 585 794

Web: www.envirowise.gov.uk

Department for Environment, Food and Rural Affairs (DEFRA)

General enquiries 0845 933 5577DEFRA publications 0845 955 6000Web: www.defra.gov.uk

Department for Transport (Road Safety Unit)

Web: www.dft.gov.ukEmail: road.safety@dft.gsi.gov.uk

Information on carriage of dangerous goods, road haulage andvehicle imports.

Patents, trade marks,copyrights and design right

Intellectual Property Office 0845 950 0505

Web: www.ipo.gov.uk

For help in protecting your own ideas and checking you are notinfringing anyone else’s intellectual property rights.

European Patent Office

Web: www.epo.org

To apply for patents in up to 20 European countries.

The Chartered Institute of Patent Attorneys 020 7405 9450

Web: www.cipa.org.uk

The professional and examining body for patent attorneys(also known as patent agents) in the UK.

Institute of Trade Mark Attorneys 020 8686 2052

Web: www.itma.org.uk

Trading Standards and payment

Trading Standards Central 0870 872 9008

Web: www.tradingstandards.gov.uk

Office of Fair Trading 0845 722 4499

Web: www.oft.gov.ukEmail: enquiries@oft.gsi.gov.uk

To apply for a consumer credit licence.

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The Better Payment Practice Campaign

Web: www.payontime.co.uk

For advice on getting paid on time and guide to late-paymentlegislation.

IT and e-commerce

Federation Against Software Theft (FAST) 01628 622121

Web: www.fastiss.org.uk

Information on software piracy and licensing.

Business Software Alliance 020 7340 6080

Web: www.bsa.org/uk

Advice on software piracy and licensing.

Data protection

Information Commissioner 01625 545745

Web: www.ico.gov.uk

Guidance on data protection - the Information Commissioner’sOffice (ICO) is responsible for regulating and enforcing the accessto and use of personal information.

Employment rules

Department for Business, Innovation & Skills 020 7215 5000

Web: www.bis.gov.uk

ACAS

General enquiries 0845 747 4747Publications 0870 242 9090Web: www.acas.org.uk

Best practice guides on employment issues.

Home Office - Border & Immigration Agency 0845 010 6677

Web: www.ind.homeoffice.gov.uk

How to check someone is entitled to work in the UK.

JobCentre Plus 0845 601 2001

Web: www.jobcentreplus.gov.uk/JCP/Employers/index.html

A free service, specifically designed to make your recruitmentprocess run smoothly. Wide circulation of vacancies in JobCentres and on the internet, the use of Job Centre applicationforms, screening of application forms, the use of facilities forinterviewing and open days.

Employment Tribunal Service 0845 795 9775

Web: www.employmenttribunals.gov.uk

Details of what to do if you’re taken to an employment tribunal.

Equal opportunities and discrimination

ACAS Equality Direct 0845 600 3444

Web: www.acas.org.uk/equality

Guidance on equal opportunities legislation and best practice.

Age Positive

Web: www.businesslink.gov.uk/agepositive

Tackling age discrimination at work.

The Equality and Human Rights Commission 0845 604 6610

Web: www.equalityhumanrights.comEmail: info@equalityhumanrights.com

The Three equality commissions - the Commission for RacialEquality (CRE); the Disability Rights commission (DRC) and theEqual Opportunities Commission (EOC) merged into the newEquality and Human Rights Commission in October 2007.The Equality and Human Rights Commission provides informationand guidance on discrimination and human rights issues.

Training

Learndirect 0800 101 901

Web: www.learndirect.co.uk

Provides a range of courses and business training.

Career Development Loans 0800 585 505

Web: www.direct.gov.uk/cdl

CDLs are a longstanding programme, available within GreatBritain, intended to help remove the financial barrier to learning.

Learning and Skills Council 0870 900 6800

Web: www.lsc.gov.uk

Responsible for planning and funding high quality education andtraining for everyone in England other than those in universities.

Train to Gain 0845 600 9006

Web: www.traintogain.gov.uk

LSC project designed to identify the training needs of yourstaff and direct you to the most appropriate training provider.This service is delivered by a local Skills Broker in your area.

Pension advice

The Pensions Regulator 01273 811800

Web: www.thepensionsregulator.gov.uk

Stakeholder-pension information.

Department for Work and Pensions (DWP) 0845 606 0265

Web: www.dwp.gov.uk

Advice on setting up an employee pension scheme.

Development Finance

British Business Angels Association 020 7089 2305

Web: www.bbaa.org.uk

British Venture Capital Association 020 7025 2950

Web: www.bvca.co.uk

Bridges Ventures Ltd 020 7262 5566

Web: www.bridgesventures.com

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Community Development Finance Association 020 7430 0222

Web: www.cdfa.org.uk

Finance and accounting advice

ABFA - The Asset Based Finance Association 020 8332 9955

Web: www.abfa.org.uk

Information on the factoring industry and details of memberfirms that offer factoring services.

Finance & Leasing Association 020 7836 6511

Web: www.fla.org.uk

Find out more about business asset finance.

Institute of Chartered Accountantsin England and Wales 020 7920 8100

Web: www.icaew.co.uk

To find a chartered accountant.

Association of Chartered Certified Accountants 020 7059 5000

Web: www.accaglobal.com

To find a chartered accountant.

The Chartered Institute ofManagement Accountants 020 849 2251

Web: www.cimaglobal.com

Legal help

Law Society 020 7242 1222

Web: www.lfyb.lawsociety.org.uk

Lawyers For Your Business. Gives small firms a free half-hourlegal consultation.

Insurance

British Insurance Brokers’ Association 0870 950 1790

Web: www.biba.org.uk

Association of British Insurers 020 7600 3333

Web: www.abi.org.uk

Other business support

British Chambers of Commerce 020 7654 5800

Web: www.britishchambers.org.uk

British Franchising Association 01865 379892

Web: www.thebfa.org

British Standards 020 8996 9001

Web: www.bsigroup.com

British Technology Group 020 7575 0000

Web: www.btgplc.com

Business in the Community 020 7566 8650

Web: www.bitc.org.uk

The Chartered Institute of Marketing 01628 427500

Web: www.cim.co.uk

Confederation of British Industry 020 7379 7400

Web: www.cbi.org.uk

The Crafts Council 020 7806 2500

Web: www.craftscouncil.org.uk

Federation of Craft and Commerce 023 9223 7010

Web: www.fcc.org.uk

Federation of Small Businesses 01253 336000

Web: www.fsb.org.uk

Forum of Private Business 0845 130 1722

Web: www.fpb.co.uk

Institute of Business Consulting 020 7497 0580

Web: www.ibconsulting.org.uk

Institute of Directors 020 7839 1233

Web: www.iod.com

Institute of Practitioners in Advertising (IPA) 020 7235 7020

Web: www.ipa.co.uk

National Federation of Enterprise Agencies 01234 831623

Web: www.nfea.comEmail: enquiries@nfea.com

Shell LiveWIRE 0845 757 3252

Web: www.shell-livewire.org

Information, advice and support for entrepreneurs aged under 30.

Small Business Bureau Ltd 01276 452010

Web: www.smallbusinessbureau.org.uk

Trade Associations Forum 020 7395 8283

Web: www.taforum.org

Search for a trade associationin your sector

UK Trade Fairs & Exhibitions

Web: www.exhibitions.co.uk

UK Trade & Investment 020 7215 8000

Web: www.uktradeinvest.gov.uk

Vehicle Operator and Services Agency (VOSA) 0300 123 9000

Web: www.vosa.gov.uk

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Suffolk Councils provide a rangeof business support services

Suffolk County Council 01473 264819Endeavour House, 8 Russell Road, Ipswich IP1 2BX

Web: www.suffolk.gov.uk/businessandconsumer/servicestobusiness

Babergh District Council 01473 825868Corks Lane, Hadleigh IP7 6SJ

Web: www.babergh-south-suffolk.gov.uk/babergh/home/business

Forest Heath District Council 01638 719471District Offices, College Heath Road,Mildenhall, Bury St Edmunds IP28 7EY

Web: www.forest-heath.gov.uk/business

Ipswich Borough Council 01473 432019Grafton House, 15-17 Russell Road, Ipswich IP1 2DE

Web: www.ipswich.gov.uk/business

Mid Suffolk District Council 01449 724635131 High Street, Needham Market, Ipswich IP6 8DL

Web: www.midsuffolk.gov.uk/business

St Edmundsbury Borough Council 01284 763233West Suffolk House, Western Way, Bury St Edmunds IP33 3YU

Web: www.stedmundsbury.gov.uk/business

Suffolk Coastal District Council 01394 444451Melton Hill, Woodbridge IP12 1AU

Web: www.suffolkcoastal.gov.uk/yourbusiness

Waveney District Council 01502 523203Town Hall, High Street, Lowestoft NR32 1HS

Web: www.waveney.gov.uk/business

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