Welcome! 15/07/14
Phil Jones, Director,
Wilkinson & Partners
Jon Nicholls,
Consultant / Coach
Blue Biz Consultancy
What do I need to grow my business?
GROW model - (Goal, Reality, Options, Will) Good product / service Clear vision and a business plan, Right staff, Right attitudes and culture, Right funding strategy, Right management and leadership. Good
Blue Biz Consultancy
10 Top Tips for Business Growth
1. Open another location
2. Consider franchising your business
3. License your product and get others to sell on your behalf - need good branded product (consider IP issues)
4. Form an alliance – eg container crop working with university to gain credibility for investors.
5. Diversify – upsell , eg pyrotechnics (Table fireworks)
1. now party productsBlue Biz Consultancy
10 Top Tips for Business Growth
6. Target other markets (watch for crossing boundaries and differentiation)
7. Win a large contract (public sector or large org)
8. Merge with another organisation with complimentary skills (eg supply chain) – incar pc marketing
9. Expand globally (UKTI)
10. Expand onto internet
Blue Biz Consultancy
Traditional sources of Finance
Government grants and loans Friends and family� Credit cards� Bank loans / asset finance� Angel investment eg SWAIN� Private Equity/Venture Capital (Eg – Seed EIS)�
Blue Biz Consultancy
Specific funding opportunities
Startup loan scheme up to £25k (6%) Growth accelerator ** Crowd funding (loan or equity or gift) Grants eg MAS grants for R&D
If you have been refused bank finance Microloan scheme – up to £7500 (6%) Frederick foundation – commercial rate
Blue Biz Consultancy
About Growth Accelerator (from £600+VAT)
A free impartial diagnosis of the business
Additional resource - professional experienced coach supporting the management team/directors – 9 months
Access to additional knowledge and peer learning through master classes and workshops
Leadership and Management training (up to £2,000 per individual)
Blue Biz Consultancy
Routes to Growth via Growth Accelerator
1. Business Development - eg - Goodlites
2. Access to Finance eg – Tarragon restaurants
3. Innovation (creating new products & services) – eg Containercrop
Blue Biz Consultancy
Coaching for success
“Leadership and learning are indispensable to each other."
John F. Kennedy
Jon Nicholls
0779 9630590Blue Biz Consultancy
TAX BOOST
Topics
Seed Enterprise Investment Scheme
Tax Reliefs
Conditions
Tax Tips
Seed Enterprise Investment Scheme (SEIS)
Scheme designed to encourage investment in start-up companies
Company can raise up to £150,000 by issuing new shares
Generous tax reliefs for investors
SEIS – Tax relief
Income tax relief at 50%
50% reduction in reinvested capital gains of same year
Gains exempt from capital gains tax after 3 years
Loss relief against income
Conditions - Investor
Must subscribe for new ordinary shares
Investment must be in cash
Cannot own more than 30% of shares
Cannot be an employee in first three years
Maximum annual investment - £100,000
Conditions - Company
Business must be less than 2 years old
Cannot raise more than £150,000 via SEIS
Money raised must be spent within 3 years
Relief can be withdrawn if conditions cease to be met in first three years
Not all business activities qualify
Non qualifying activities
Land & Property related
Hotels & Nursing Homes
Finance related
Legal & Accountancy services
Advance clearance & formal approval
Possible get advances assurance from HMRC that a business will qualify
Formal approval can be requested once the shares have been issued
Investor receives a certificate confirming entitlement to tax relief
EIS
Big Brother of SEIS
Suitable for more established business seeking to raise finance
Tax reliefs not as generous
Tax Tips
Business structure – are you using the right structure – sole trade, partnership or company
Vat – voluntary registration? – flat rate scheme? Pre year end tax planning – maximise reliefs & minimise
tax Make sure you claim for all expenses Prepare accounts early – plan for tax liabilities Seek professional advice – not from the friend in the
Pub
Alex McArthur
Owner, McArthur Davies Marketing
MARKETING BOOST
Ten top tips to boost your marketing!
“Business has only two functions -
marketing and innovation.”
Milan Kundera
1. Claim your place online, be found!
2. When was the last time you talked to your customers?
3. The power of testimonials.
4. Be social!
5. Form a strategic partnership.
6. Get a Piggyback.
7. Be targeted.
8. What’s your offer?
9. Be attractive, not desperate
10. Remember, 7 is the magic number
Questions?Please get in touch
Keep an eye out for future events
www.boost-bristol.eventbrite.co.uk