Running A Small Incorporated Business


Author: Naz Daud

Running a small incorporated business within the parameters of the law is much more complex than many people imagine. There are thousands of small companies operating in the UK, many of which have just one or two members.

Running a small incorporated business within the parameters of the law is much more complex than many people imagine. There are thousands of small companies operating in the UK, many of which have just one or two members. However, of those companies there is a substantial minority operating their business ignorant to what is legally required of them, that could ultimately face litigation were they ever to sell their small business to savvy, well advised investors.

As a result of recent legislation, the limited company no longer requires a company secretary and there is only a requirement for one director in private limited companies. Thus it’s now possible to run a private limited company as a one-man band, without the need for involving others in its administration and management. However, many small businessmen fall into the trap of believing that means they can treat the business as an extension of themselves, or as a piggy bank from which they can take money as and when they please.

Unfortunately as many find out when they later sell their business, or bring on an investor, this is not the case. The limited company is a separate legal person, and taking money that has not been authorised from the company, i.e. an unlawful distribution could land you in serious trouble with the courts. The company should be run properly and managed, and any payments to you should be in the form of a salary, bonus or dividend payment and should be recorded in writing for the sake of record keeping.

On the subject of keeping records within your small business, a limited company is legally required to maintain day to day financial records and to retain these records for inspection for up to 3 years. If you don’t have these records, both the company and the directors have committed a criminal offence and can be subject to criminal penalties as a result. If you’re running a small business without keeping adequate records, it may be time to start considering your options, and it’s better to start keeping those records right away to ensure you do not fall further behind.

There are naturally tax implications of running a small business as an incorporated entity. For example, if you were to run a business making £10,000 in profit, you would be subject to corporation tax of 20% on that £10,000 and income tax on any money paid out as salary (assume £20,000 which would also be taxable at 20% and deductible from the profit figure, plus National Insurance contributions). Thus the total tax paid in this instance would be £6,000 plus additional National Insurance contributions at both employee and employer level. However, were the money to be paid out in dividends from a £30,000 profit, National Insurance would no longer play a role, and the dividend payments would attract no additional tax.

Finally, running a small business requires the director to treat himself as an agent of the company, and to act in the best interests of the company rather than in his own interests as the major shareholder. Even where a director also owns 100% of the shares, it is his legal duty to act in the interest of the company and subsequent legal action from new shareholders tackling retrospective actions could see him liable to compensate the company in respect of any losses it sustained from him acting outwith the scope of his duty.

Learn Affiliate Marketing The Right Way! Leave No Room For Mistake


Author: Ivan Ong

Affiliate marketing is ideal to start an internet business working from home. Affiliate marketing is one of the fastest growing marketing channels on the internet. Affiliate marketing is considered one of the best ways to earn money online. Affiliate marketing is great because anyone with a laptop, Internet connection and some imagination can set up an affiliate marketing business.

Affiliates generally attract traffic either via paid search or Search Engine optimisation. Affiliates can also be search engine marketers who run pay-per-click campaigns in order to drive traffic and sales for an advertiser. Millions of affiliates send billions of visitors to tens of thousands of companies in return for a payment. Affiliates will continue to grow larger and more professional.

In a nutshell, publishers -- also known as affiliates -- display ads supplied by advertisers. However, it is also true that many affiliates do not earn big money online because they do not have a proven system to follow and thus unsuccessful in earning an income on the Internet.

No matter how you go about it, affiliate marketing is a proven, effective way to increase your traffic. If you own or want to start your own Internet Business, affiliate marketing is a must for your marketing strategy. Indeed, affiliate marketing is one of the easiest and most effective home business opportunities online today. In simple terms, affiliate marketing is a web-based marketing practice in which a business rewards one or more affiliates for each visitor or customer brought about by the affiliate's marketing efforts.

The Top 3 Internet Marketing Myths Debunked


Author: Allison Nazarian

Don't hesitate to embrace the Internet to market your product to your target audience. Hesitation comes from uncertainty and fear. Get rid of both!

Starting a small or new business?

Don't hesitate to embrace the Internet to market your product to your target audience. Hesitation comes from uncertainty and fear. Get rid of both!

Go beyond what you think you know and forget the myths you have been carrying around like too-heavy luggage:

The Internet is a revolution: You have to be living under a rock if you think the Internet is still new. Over 150 million Americans (let alone the rest of the world) are accessing it every day. If you think you can push aside this marketing tool until later, you're wrong. It's that simple.

A website is unnecessary: Don't want to be accessible? Want to be closed when your customers are looking to buy? Do you hope to be asleep when demand is high? Then don't have a website and you will succeed in these three areas for sure.

I can do it all on my own: Nobody can do everything well. Not even you. Yes, your website needs to reflect your expertise and the superiority of your product or service. But you need to allow marketing professionals to help and work with you or you will never get anything done.

5 Endorsement Marketing Secrets


Author: Peter Fogel

Use Endorsement Marketing to boost sales! Endorsement marketing (as you probably know) is having famous or reputable people recommend your product or service to others. They could be celebrities, star athletes, musicians, etc.

I am still amazed that some marketers (not you of course, other marketers) don’t use endorsement marketing or don’t use it to its fullest capabilities.

Endorsement marketing (as you probably know) is having famous or reputable people recommend your product or service to others. They could be celebrities, star athletes, musicians, etc. For a real impact, choose people that are related to your business and might actually use your product or service.

1. Make no mistake. Before asking anyone for an endorsement, be sure your product or service gives the results you say it does. The celebrity may ask you to prove it before they will agree to give an endorsement.

When Ray Romano agreed to give me a blurb—he first asked to read my book. (Yes, I shamelessly name dropped just now.)

2. Once you find the ideal person to endorse your product or service simply contact them and ask. When proposing any endorsement deal, make it a win/win situation. Tell them you would get the endorsement and they would get free publicity. (I’ve used this technique time and time again—and usually they are more than happy to do it.)

3. If they're selling a product or service, you could exchange endorsements (viral and affiliate marketing at its finest). If they ask for a fee, try to give them a percentage of the profits instead. (In business, you don’t get what you deserve… you get what you negotiate.)

4. Once you get an endorsement from someone, use it on all your advertising and marketing material. Put their endorsement and picture on your Web site. Use their testimonial in your ads. Include it on your product packages. (Have you not seen Fran Tarketon doing this for Tony Robbins and vice a versa?)

5. Realize an endorsement can increase your sales fast. It gives credibility to your product or service.

The truth is this: People will usually believe a person that's not related to your business before they will believe you.

Mobile Ads: Increasing your Reach with Adhesive Vinyl


Author: Owenskie

You see big names sticking on every famous racer’s car. Stickers of major sponsors have become an essential part of racing, not just for the racer’s career but for the appeal of these modern day chariots loaded with horsepower.

You see big names sticking on every famous racer’s car. Stickers of major sponsors have become an essential part of racing, not just for the racer’s career but for the appeal of these modern day chariots loaded with horsepower. Replicas of these adhesive vinyl ads are even present in Formula One car models to give them a more accurate look. You can employ the same strategy as these big companies with your very own adhesive ads.

This approach to advertising offers that big advantage of making your ads seen by more people as anything but stationary. It can give you wider audience coverage than other mounted signs.

Advantages of using adhesive vinyl:

1. They can be presented in different ways

• Vinyl signs come in different forms and various sizes. There’s the more traditional-looking poster provided with an adhesive back. This way, you get high definition pictures and texts, plus more ease knowing that your poster will not be blown away or ripped as the vehicle moves.

• There are also vinyl decal and letterings that contain graphics and letterings, respectively. Both forms are most commonly seen to have shades of black and white, but they can actually be printed in various colors.

• For decals and letterings, make sure that the colors you pick have a good contrast with the body paint of the vehicle so it’s easy to see, even from a distance. Remember that it’s moving so you do have to make sure that it can be easily read and recognized.

2. They can be made mobile

• Adhesive ads can be stuck on any clean, flat and smooth surface. You may choose to put them on glass doors or windows but, to add interest to it, they can also be placed on car exteriors or windows.

• Once you stick it to a moving object, it automatically gets seen in motion with the the moving object. Just think of the number of people on the street chancing upon a car or bus with your product’s ad on it.

• You can choose to have your ads placed on trucks, buses, cars, motorcycles, bikes or even on trains.

3. They are useful even during traffic

• Traffic can be a drag but you can turn this unfortunate incident into something that brings you more benefit in your advertising solutions. Traffic can increase the viewing time of people. Even if they have their radios turned on, these visuals can certainly grab attention.

• Use vinyl posters with adhesive backs for big visuals with clear and colorful images. Add funny one-liners or catchy statements that will entertain those who catch a glimpse of mobile billboard.

• Play with decal designs, or go for letterings with clear and readable strokes to achieve simpler yet effective ads. Use your company logo or include the face of your mascot for visuals.

Adhesive vinyl provides a refreshing alternative to typical affixed ads. Cover more areas and gain the media mileage you need. With mobile ads, your products are seen in more places, and this translates to better exposure.

Gaining a Business Grant – the process


Author: Carolyn Clayton

The definition of a grant can be summed up as funds given to tax exempt organisations which are made to fund a specific project. Other grants can be given to individuals i.e. victims of natural disasters and individuals who seek to open a small business.

It if a grant is approved and granted it will mean you will have to report back with how the specific project etc is going. This is a small gesture considering the money granted doesn’t require the need to be paid back and you don’t have to give up a share of your business to the investor; as long as you stick to the conditions of the grant.

As previously mentioned a grant is a sum of money that is awarded for a specific job or purpose meaning the money must be spent on the specific aspect and this specific aspect alone. If it is found that you are using the money awarded in a grant for any other purpose other than the one you were awarded the grant for you will be made to pay the money back in full and may also be charged.

The sum of money that is awarded in a grant only covers part of the total costs involved in the specific project. It is your responsibility to come up with the rest of the cash. There are three aspects that you need to ensure before you go ahead and put a claim in for a business grant. These aspects are:

• Need to have money to cover your part of the costs
• Need to have a specific reason for needing the grant and a full description of how the grant will help and how you will use it
• Make sure the specific project etc hasn’t already been started

Business grants exist to help businesses develop and are available from a variety of sources such as; Government, European Union, Regional Development Agencies and Local Authorities as well as some charitable organisations. The success of an application may be linked to business activity or specific geographical areas such as those in need of economic regeneration.

When it comes to actually making your business grant proposal there are certain aspects that you will need to provide such as:

• A detailed project description
• An explanation of the potential benefits of the project
• A detailed work plan with full costs
• Details of your own relevant experience and that of other key managers
• Completed application forms where stipulated
• Possibly a business plan

It should be noted that you remember to submit your application before the deadline where relevant; any late applications are rarely considered. You should also be prepared to wait anything from a few weeks to a year for a decision; however local applications are typically processed more quickly.

Your proposal will be considered by analysing the following aspects:

• Significance
• Approach
• Innovation
• Their assessment of your expertise
• Need for the grant

Building Your Startup Business


Author: Kaye Z. Marks

What is the key to most successful businesses? Marketing. After all, you can have the best product in the world, but if no one hears about it, it is not going to matter. Unfortunately, not everyone can afford to put a 30 second spot on the Super Bowl.

What is the key to most successful businesses? Marketing. After all, you can have the best product in the world, but if no one hears about it, it is not going to matter. Unfortunately, not everyone can afford to put a 30 second spot on the Super Bowl. That is where commercial color printing comes in to play.

A brand is a business’s identity. It establishes credibility, and a quick walk through the supermarket will confirm that people are willing to pay more for brands. The first step in developing a brand for your business is to know who you are. Are you an upscale restaurant or a dollar store?

When you pick a name the two things to look at are how memorable it is and how easy it is to spell. Some companies pay up to $35 000 to research the correct name. Choose wisely--remember that this name is going to be on everything from business cards to radio ads.

Next, you are going to want a logo, something simple and memorable. Think of a popular restaurant and odds are the first thing that pops into your head is the logo. If you see two golden arches, you assume that a McDonalds is there.

So, you have a name and a logo, now you’re going to want to decide which colors to use. There are different advantages to each color and you should not pick your favorites. For example, red and orange are both known to stimulate appetite. How many fast food restaurants do you know that have at least one of those colors? Almost every single one. That is not a coincidence, nor should your use of color be.

When you are building a new business one of the keys to survival is knowing your competition. Many would-be successful businesses take this too lightly. You should know everything you can about anyone in the area who provides anything remotely similar to what your business does. You need to know about more than their product though. You should know what they are doing for advertising, how long they have been in business, what worked for them when they were starting out--essentially anything, you can find.

Building a business is not easy, and it never will be. Most businesses fail, usually because someone looked over a small detail. Maybe the market was poorly evaluated, maybe the product was rushed--do not let those be your excuses. Understand your market, and use the information you have gathered to attack it. That is the key to building a business.

How To Refine Your Google Search

1. Use the addition (+) sign to make sure you get all the terms in your search results. So: '+internet +marketing +strategies' will get you results containing all those words, leaving out web pages that only contain 'internet'.

2. Use the subtraction (-) sign to exclude references that you are not interested in. For example, if you are not interested in web pages that talk about viral marketing, enter: 'internet marketing strategies -viral'.

3. Sometimes, your search terms may be far off from one another on a web page. To ensure your terms appear together in a phrase, put them in double quotations, like this: "internet marketing strategies". This is also useful when you want to look for specific topics, such as "how to remove spyware", rather than having the terms scattered all over.

4. If you are looking for a word definition, Google has a tool for you. Just type: 'define: widget' to get a definition of the word from online dictionaries and glossaries.

5. Google even performs calculations. For example, enter '1+2+3' and click 'search' to get the result. It can also perform unit conversions such as from miles to kilometers. Enter '10 miles to kilometers' and you'll get 16.09344 kilometers.

Nelson Tan is the webmaster behind Internet Mastery Center. Download $347 worth of FREE Internet Marketing gifts at http://www.internetmasterycenter.com. Article on internet marketing, search engines, google search by Nelson Tan

Single Mother on a Budget?

* Budgeting Tips *

A budget is a systematic plan for the expenditure of a usually fixed resource, such as money or time, during a given period. As a single mother, you might groan at the thought of putting together a household budget with all your expenses, but it's easy to do and will also help you become very financially organized.

Shaping up your finances is particularly important if you are experiencing a life altering experience such as a marriage, divorce, new baby, or any other event that changes your finances dramatically. Whatever the state of your financial life, developing a sensible household budget will allow you to be in charge of your money.

* How to Create a Simple Budget *

Your Cash Flow

The core of budgeting is for you, as a single mother, to see your monthly spending needs and habits. The purpose of a household budget allows you to track your personal cash flow. Your personal cash flow is how much money comes in and how much goes out.

Adding up your monthly income is easy, but totaling up all your expenses takes a little more effort.

First, collect all your bills, your credit card statements, your checkbook register, and receipts for your groceries, gas, or anything else you buy with cash.

If you haven't been keeping good records, you may have to get a receipt of every dollar you spend for a month before you put together an accurate budget. Track your expenses by making entries in a notebook or learn how to it in Microsoft Excel. You can also use a money management program such as Quicken or Microsoft Money or Mvelopes Personal. They are really worth the investment, because they make the budgeting process easy and the software can often be found discounted at computer retailers or bookstores.

Now, divide your spending into fixed costs and variable costs. Your fixed costs will include such things as mortgage payments, rent, or loan payments. Your variable costs will include such things as clothing, food and entertainment.

* How to Stick to a Budget *

Once you are managing your spending, you can easily decide which costs as a single mother you can cut and which you cannot. In most cases, as soon as you see how much you are spending on your morning latte and breakfast items, you will be motivated to cut back. Stay motivated by setting goals.

Here are a few budgeting tips to get you started:

* Budgeting isn't difficult, but getting started does take motivation. Promise yourself a reward for your efforts.

* Gather three months of bills or, if possible, all of the past year's bills, and add up how much you spent every month. Divide them into categories such as housing, entertainment, and food.

* Take a good look at what you can spare. Entertainment expenses are easy to cut, but utility bills are not. Keep a daily journal of what you spend each day. This may sound obsessive, but it can be helpful. Once you know where your money goes, you can spot your unnecessary costs. It is really not that hard to give up lattes or bring your lunch from home.

* Pay bills as soon as they come in. Avoid destroying your budget with late fees.

* Decide what you can cut, and then cut it out. Track what you are saving, and you will be pleased with the results.

About the Author: By Kelly Kennedy

Creating A Realistic Budget

Budgeting – ooh, what a scary word! If you want to frighten someone whose finances are out of control, suggest that they tally up their expenses on a piece of paper. We all understand the value of such an exercise, but when it comes to the practicality of putting a budget together, we get cold feet. Budgeting doesn’t have to be so painful, when you have a systematic series of steps to follow.

SET YOUR FINANCIAL GOALS
As with any other area of your life, it’s pointless to start down a financial path if you don’t you have some idea of where you want to end up. What is your REASON for creating a budget? Do you want to pay off your debts? Save for your kids’ college education? Put money away for retirement? Make a list of your financial goals for the next 6 months, year, 5 years, 10, 25 – all the way through to old age. And don’t spend a lot of time worrying about feasibility – if your goal is to be debt free in a year, don’t think about all of the reasons why you won’t be able to make it by that deadline. Just remember, where there’s a will, there’s a way!

CREATE THE SHEET
Start with either a sheet of legal paper – or a spreadsheet program – and create 12 columns. Label the top of each column with a month of the year, from January to December (duh!) Each row on your sheet will represent a different living expense – groceries, gasoline, Starbucks coffee in the morning on the way to work. You’ll have better luck remembering everything that you spend money on if you think according to categories. "Automobile" would include gas, repairs, insurance, and taxes – while "grooming" might be divided into clothes, makeup, haircuts, and facials.

TRACK YOUR EXPENSES
How can you know what steps you need to take to reach your goal until you know exactly where you are right now? Most of us don’t have a clue where our money goes – credit cards and ATM’s make it easy for money to just slip through our fingers. The first step is to create a list of STATIC EXPENSES – things that cost the same amount every month, like rent and your car lease and student loan payments. Now these expenses are not completely "static" in the strictest sense of the word. You can reduce your rent or mortgage payment by finding a less expensive house – and you could increase your loan payments to get rid of the debt faster. But for now, just itemize your regular monthly costs.

Next, you want to evaluate your VARIABLE EXPENSES – those costs that fluctuate from month to month. Groceries, entertainment, utilities, and clothing all fall into this category. The great thing about variable expenses is that you control (at least to a certain extent) how much of your budget these items eat up. But some of these costs come in large and unexpected chunks – like car repairs and medical bills. So you might need to go through your last 12 months’ credit card and bank statements to get a clear idea of how much daily life costs you. And don’t forget about those expenses that are paid only intermittently – like insurance. Tally each expense and divide the total by 12, to give you a clearer idea of how your costs spread out over a year’s time.

ROOT OUT MONEY LEAKS
Now I guarantee that you will not remember every expense, no matter how hard you strain your brain! Think about all of the things that you buy throughout your week without really paying attention – snacks at work, a magazine when you stop for gas, that cup of coffee on your way in every morning. And don’t forget about the expenses you are racking up because of financial disorganization – interest charges on your credit card debt, late fees because you forgot to return that movie on time, overdraft charges because you didn’t balance your checkbook. All of these fall into the category of unconscious spending. You just do it because it’s a habit. And although you think that a dollar here or fifty cents there is insignificant, it can really add up.

So for a month, record every penny that leaves your hand, in the form of a check or cash or a credit card transaction. This may sound like a huge challenge, but you can do it! Make it convenient – my husband stuck a small pencil and piece of paper in his wallet so he would be reminded to make a note every time he made a purchase. You will be stunned when you see where your money is really going! My husband was shocked to find out that he was spending almost a hundred dollars a month on that morning coffee (am I picking on Starbucks too much?!) What’s your vice – eating out when you are feeling lazy? Buying every new CD or magazine that comes out? I’m not suggesting that you completely eliminate these habits – just that you decide how often you can reasonably afford to indulge and still reach your other financial goals.

DON’T FORGET YOUR DEBTS
It’s also important that you have some idea of your liabilities – debts that still have to be repaid. Did you figure these payments in with your monthly expenses? If you are only counting the minimum monthly payment, you will never pay your debts off. You may not be able to do it right now – but after we get your budget in order, the goal is to pay at least double the minimum amount on at least one of your liabilities each month. You should start with the credit card or loan that has the highest interest rate – then tackle the next highest after the first debt is paid off. And if you can afford to pay more than double, go for it. You aren’t really free to start working on other financial goals until you know you are debt free.

TALLY UP YOUR INCOME
Do you really know how much you make? The tendency is to quote whatever is printed on your employment contract – to say, "I make _____ a year." But after taxes and Social Security and any other items that are deducted from your check, what are you actually bringing home? Take a minute to really examine all of your sources of income and calculate an honest total – you can’t have a realistic budget without it!

WHAT’S THE VERDICT?
So, comparing income to expenses, how does it look? If you came out in the black, congratulations! How much do you have left over? Regardless of how small or large the amount is, start stashing it away into savings and investments! Your choice of how to proceed will depend on your financial goals – investing for retirement will involve less liquidity and more risk than just saving for next year’s vacation. The main thing to remember is that you should build your savings and investments into your budget just like a bill – and take care of these long-term responsibilities FIRST, before other costs. That’s the secret to good financial management.

Now, if you ended up in the red, we need to talk. The first step is to look at spending which can be reduced or even eliminated. Start by examining those "spending leaks" – if they give you pleasure and satisfaction, dandy. Certainly late fees and interest charges don’t fall into this category! But you can still overdo a good thing. Ask yourself if eating out 4 times a week gives you 4 times more pleasure than doing it just once. And could you get as much pleasure if you cooked a good homemade meal? Is the ridiculous mortgage on that 10,000 square foot house worth it? Or could you be just as happy (or even happier with less financial stress) in a place half the size? Also look for convenience expenses – things that we spend money on because we are overwhelmed, too busy, or just worn out. Perhaps by re-evaluating how you use your time, you might discover that many of these expenses are just symptoms of misplaced priorities. When you arrive at a place where all of your spending decisions are DELIBERATE ones, you will find yourself several steps and quite a few dollars closer to a balanced budget that allows you to reach all of your financial goals.

by Ramona Creel