If you ask a group of business people to define what they think business development is, you will probably get a few different answers. Some people use the terms business development and sales interchangeably, while others consider them to be completely different.   Business development involves a considered and holistic approach which includes business strategy,   marketing, customer management, and partnerships. To use a golf analogy, the business development

  It is possible to reclaim VAT you have paid on any business purchases before you have subsequently registered for VAT. In fact, once you have registered your business for VAT the first thing you should consider is the possibility of reclaiming input tax on purchases of goods and services prior to registration.   This article summarises the issues you will need to consider for the two categories: goods and

  For some time now, unincorporated businesses have been able to submit simplified accounts in order to settle their tax liabilities. The main advantage of using this system is that income and expenditure is based on money received from customers and money paid to suppliers. In other words, the accruals basis, where income and outgoings are based on the value of invoices sent and received, is not applied.   Prior

  No matter what type of business you run, mistakes will happen. All employees make mistakes. However, the key to resolving the situation when things don’t go to plan is to manage your team and the actions they take, effectively.   When things go wrong, stop and analyse the situation. How big is the mistake? Is it one that should not have been made but can be rectified? Or did

  In the current economic environment, businesses are demanding more and more of their managers. Here are some tips to help you to become a more effective manager.   The best managers are those that step back and let their team do their job without standing over the shoulders. You can’t do everything yourself. Instead, assign each member of your team personal objectives and empower them to succeed. Give them

  It seems there is a new way of doing business being created every week. Disruptive, technology driven, new business models are constantly being developed by the likes of Uber, Skype, Amazon and Air BnB.   Your business might hold an established position in the market today but that doesn’t mean that you and your management team can be complacent.   Disruption and commoditisation have impacted most industries and we

  If you are running a business and making up accounts to 5 April, consider buying plant and machinery to take advantage of the Annual Investment Allowance (AIA) of £200,000. The AIA provides a 100% tax write off for equipment used in your business. This tax relief extends to fixtures and fittings within business premises such as electrical, water and heating systems. There is also 100% tax relief if you

  With latest figures showing 1.79billion monthly active users, Facebook is a social media platform that has immense potential for business users. However, as with any large target audience, getting your message right is key.   Facebook Live is a new video streaming service which enables users to livestream video broadcasts from their mobile phone or other device. While this idea in itself isn’t new, Facebook’s huge audience means many

  Increasing your sales isn’t all about selling. Instead you should focus your energy on helping your customers to make a buying decision. Customers are more in control of their buying decisions than ever before. They have a wealth of alternatives and information available online, and interactive access to sources they trust via social media. They don’t want to be pushed into a sale, but they are happy to be

  Technology is a double-edged sword which is blurring the line between home and the office. In some ways, this adds more flexibility in terms of how we can all manage our time but it also means more calls, more email and more meetings.   Technology also means that we frequently have to switch between work and life. It’s no longer the case that we switch off from work when