Leaving Lowestoft at 5.30am, I was most anxious to ensure that my early start was going to be worth it. Upon arrival at The Royal Albert Hall, I knew I was not going to be disappointed. The organisation was spot on with 2000 delegates arriving, and a sense that all attending were impressed by the obviously hi-tech presentations we were going to receive.
The Young Foundation in partnership with education foundation Edge is offering up to £100,000 of investment for burgeoning organisations who work with young people. The Learning Launchpad fund will provide pots of cash for those who work with disadvantaged communities and offer alternatives to traditionalist education. Check out the website for more info.
On Tuesday 24 February we held the second in our series of webchats focusing on money saving and finance. We spoke to John Davies, Marketing Director of Barclays Local Business who gave us his top tips:
Not all banks have stopped lending!
John Davies: Part of the reason why there is less supply of lending is because some overseas banks used to lend to small businesses in the UK and it is these banks that have pulled out. We actually lent 20% more in 2008 than in 2007 to our small business customers. So we certainly haven’t stopped lending. I would urge you to talk to your business manager at your local bank and they should be able to help you.
Today I read an article that advised me that I should regularly monitor my competition to see what they are up to, to work out their sales strategy and showing me a few ‘back door’ ways to keep tabs on what my competitors are doing online.
On Tuesday 10 February we held the first in a series of webchats focusing on money saving. We spoke to Alan Young, Home Business Expert and Clive Lewis, from the ICAEW (Institute of Charted Accountants in England and Wales) who gave us their top tips:
1: It’s good to talk
Alan Young “Word of mouth is 100% important as networking can generate up 90-95% of new business. It’s also really important to have as many communication channels to your stakeholders as possible. But make sure you devote your time and effort to the ones you feel are giving you the best results. Be objective and decisive about those that are not working and cut them out.”
2: Tweet about you business
Clive Lewis “I find that Twitter adds value to any business. Personally I think it’s important because there are other accountants on there, who tweet when there are important changes in legislation. This helps keep me up to date and informed.
Secondly, it helps me to notify my clients and followers as to updates on our blog which will then provide them with more detailed information. In the real world, not everyone is going to visit your blog every day, but by tweeting into a channel where people are watching, it drives more traffic to the site.”
3: Find your customer base
Alan Young “It is of course vital to have a customer base and it is always worth considering purchasing a targeted database from, say, BT, Thomson, or via your Chamber of Commerce.”
Get live advice from Alan Young, Enterprise Nation and Clive Lewis, ICAEW ..check it out
As you know we do like a bit of web magic around here, so it is with glee that we begin the first of our special Access to Finance web-chats. Today is all about the Rise of the Frugal-preneur and the lovely people from cmypitch (blog roll friends) will also be hosting the chat. Get involved
In these difficult financial times, we are all more conscious then ever of how we spend our money. But what can entrepreneurs learn about applying thriftiness to their business?
If you would like to find out more about how to save money for your business and make your money work smarter, then our frugal-preneur web chat is for you.
Home business expert Alan Young FCCA works with Enterprise Nation advising home based entrepreneurs on the most cost effective ways to set up and run a business from home. He is also a successful entrepreneur as CEO of 1st Addition Accountancy Limited originally set up and run from Alan’s own home, in a bid to minimise start-up costs and maximise efficiency.
Businesses are being urged to take advantage of a range of business support packages on offer to help them through the economic downturn. The “Real Help for Businesses Now” guide on the Business Link website will bring together support from across the Government in one easy-to-access place.
Business Secretary Peter Mandelson said:
“Businesses do not face this recession alone. I want to ensure that businesses know how to access the support they need to weather the current global economic storm and emerge from it stronger.
In reflection of these belt-tightening times, there has been a definite mindset shift in all of us about how we choose to spend our money. Saving is the new spending – there is now no shame in brandishing 2-for-1 meal vouchers in restaurants and being chic on the cheap is the way forward for frugal fashionistas.
But has this thrifty approach impacted entrepreneurs and the way they choose to run their businesses?
We asked our lovely MYM ambassadors for their top cost-saving business tips to help entrepreneurs through these testing financial times - and Nadine Hill of the Dream PA had this helpful advice:
If the economic gloom is getting you down, why not whistle a jaunty tune, sing everything for the rest of the day, or go to a CBI conference on accessing finance in the recession.
Although it might sound a little dry, if you’re an entrepreneur you really shouldn’t have missed some top speakers answering:
(1) Is there money still available for businesses?
(2) How do you get it?
First up, Anthony Clarke, Chairman of the British Business Angels Association.
Angel investors are a bit like Dragons’ Den – they take a stake in the business for an injection of cash. Unlike the TV series they are usually very nice.
On Tuesday I got to thinking about money.
Aside from my usual hang wringing internal monologues of not having enough, not saving enough, not investing enough, my actual thought process was centred on enterprise. Probably because of Make Your Mark with a Tenner, which I consider (biased I may be) one the most interesting activities we are doing this year.
Like all the best concepts, Tenner is refreshingly simple. We loan young people a ten pound note then challenge to make as much return and/or be as socially responsible (which may or may not be intrinsic?) as possible within a month.
Are you confident about the future?
I only ask because I read a very interesting article in today’s paper about people in Britain losing faith in their banks and government. This left me wondering whether entrepreneurs have a similar feeling of dismay when it comes to their business. Whether you have a fledging start-up, a seed of an idea or a highly successful company, the economic climate may have affected either your business in a real sense or your aspirations, or indeed both.
Would-be entrepreneurs might well be wondering where they can turn these days for investment. Why not follow the lead of a few Make Your Mark ambassadors and investigate the following avenues…
Self-financed
Suzy Miller struggled to get the banks’ backing her business, and in the end took great personal financial risk to start CertainShops. “The biggest barrier I faced was a sense of guilt that I was risking my children’s security by putting everything I have into my businesses,” Suzy admits. “But going into partnership with another single mum encouraged me to be outrageously ambitious.”
See also: James Taylor, who started his business with £1,000 in savings and was turning over £1 million by SportStars’ second year of trading.
You may not think it but pilling on the pounds in January is a good thing. Clearly when I speak of pounds I mean the fun kind you can spend in the shops and not the rubbish type that makes your favourite tops bulge.
Emma Jones, Queen of the home business and owner of the pretty cool Enterprise Nation knows what I mean.
She has created a get home-business fit regimen called ‘Pilling on the pounds in 2009’. You follow a four week plan which will aim to bring you ever closer to owning your own home business and might end up £100, 000 in the black
Which would be nice.
Just as nice is our nifty finance resource. Here we have managed to stuff in as many articles, links and games for your delectation. Go on have a peek and make 2009 your year of financial savviness!
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