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Networking refers to the practice of interacting with associates, fellow entrepreneurs, colleagues and other people to build a network of far-reaching contacts. Today, networking has become an integral element of conducting business as it helps to reach wider audiences and perhaps maximize client base in the process. A very famous entrepreneur Robert Kiyosaki once stated […]

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The Time to Train regulations were introduced by the Labour government and took effect for businesses employing 250 or more people in April 2010. They were due to be extended to all employers as from April 2011 but this has now been indefinately postponed to enable a full review is undertaken. The regulations require businesses […]

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People like me are prone to bang on about the need for a Business Plan, a Marketing Plan, a Finance Plan and so on. Mind you for me a good business plan should contain all those elements but each does have a stand-alone life of its own and each needs regular updating. It isn’t enough […]

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Running your own business is great but anyone who thinks that it is easy or less of a hassle than being an employee is fooling themselves. Most employees can finish their work and go home and relax but someone running their own business cannot switch off so easily. Trust me – I’ve been there. You […]

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Implementation of the Bribery Act 2010 is to be delayed amidst fears that promised guidelines to enable businesses to understand the somewhat complex legislation will not be ready in time. The Act was introduced by the last Labour Government and whilst the new Conservative-LibDem coalition broadly supports the rationale for the new law it decided to […]

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The National Employment Savings Trust (“Nest”) is the UK Government’s pension scheme introduced following the Pensions Commission’s 2005 report and is intended to encourage people to save for retirement. In fact it isn’t a new scheme, just a rebranding of the Personal Accounts Scheme which has been in operation for some time. The real difference […]

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The Institute of Directors (IoD) today publishes the results of a survey of its members on the administrative burdens that the tax system imposes on them. The picture is much gloomier than that painted by last Friday’s World Bank survey, which placed the UK fourth for ease of paying taxes. The IoD argues for specific […]

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On Tuesday 4th January 2011 the Standard Rate of Value Added Tax is increasing from 17.50% to 20%. This change will mean a lot of extra work for VAT registered businesses and any non registered business or private individuals should consider whether there are any steps they can take to try and pay at the […]

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If you have decided to start your own business as a self-employed sole trader (perhaps having read Choosing the Structure for Your Business) then you might think that you have nothing else to do apart from finding some work and getting paid when you have done it. Unfortunately it isn’t quite as simple as that, […]

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Today, 1st October 2010, sees a number of changes in respect of the UK national minimum wage (NMW) regulations. From today the age at which UK workers become eligible for the full rate drops from 22 to 21 and the rate itself increases from £5.80 per hour to £5.93. The hourly rate for workers aged […]

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UK business owners and managers who employ staff will need to be aware of the requirements of the new Equality Act the bulk of which come into force today (see below for a list). Failure to adhere to its requirements, some of them fairly onerous and complex, could see them end up in court facing […]

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In recognition of the increase in life expectancy which we all know will have a serious effect on the UK economy – people will draw retirement benefit for longer and will need more health care for example – the government has proposed to abolish the Default Retirement Age (“DRA”) of 65. On the surface there […]

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Is offshore banking legal? This is a question often asked these days, as various nations seek to clamp down on offshore tax havens and offshore banking. And while such banking may raise eyebrows in certain quarters, or invite disapproving comments from politicians seeking to balance budgets and maximise tax revenue, the fact is banking offshore […]

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The last Labour government introduced the Time to Train scheme which enabled any employee with more than 26 weeks service to request time off work to undertake training of any sort. Whilst on the surface that seems reasonable in practice the new right raised a lot of issues not the least being the fear that if a […]

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I think it’s imperative that people get off their butts and travel. I say this because I believe the old dictum that travel broadens the mind. And what this world needs more than anything else right now is “mind broadening”. Travelling to a country gives you a chance to experience life as others live it, […]

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The UK Coalition Government have today proposed a number of initiatives designed to reduce the burden of bureaucracy and red tape for business.  Proposals from the Department for Business include the re-publicising of the Your Freedom website, a “beefing up” of the Regulatory Policy Committee’s role and the provision of greater detail on the nature […]

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Following the unseemly debacle surrounding Kraft’s takeover of Cadbury (and some of us remember similar issues many years ago in the Guinness/Distillerstakeover) the Takeover Panel have launched a review into certain aspects of the regulations concerning takeovers and have invited comments. Here are mine. Any changes to the Takeover Code must ensure that the UK […]

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The United Kingdom Ministry of Justice today announced that the UK Bribery Act, including the new strict liability corporate offence of failing to prevent bribery, will come into effect in April 2011. This is later than originally proposed, but reflects more recent anticipation as to the likely timetable for implementation. Under the new corporate offence, […]

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The long-awaited Bribery Act 2010 was today (8th April) given Royal Assent and so has passed into law. The purpose of the new act is to reform the existing criminal law (which dates back over 100 years) and to provide a new, modern and comprehensive scheme of bribery offences that will enable courts and prosecutors […]

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The recent worldwide financial crisis has clearly indicated that there is an urgent need to improve the effectiveness of company boards. This can only be achieved when all board members, together with shareholders, employees and other stakeholders, truly understand their roles and responsibilities. For over 10 years the Institute of Directors (IoD) have been offering […]

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