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Business121 No.195
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Business121 is the newsletter for small business owners and start-ups.
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You'll also find 2000+ articles at Bytestart, our acclaimed website for
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In this week's Business121 Newsletter:
1. Small businesses squeezed further
2. Looking at your business website from a visitor's point of view
3. Why website owners should focus on links not obsess over 'keywords'
4. How to get free publicity - The 5 Unbreakable rules
5. The secrets of work-life balance: work smarter, not harder
6. Annual Investment Allowance - how does it work?
7. How should limited company contractors and freelancers pay themselves?
8. Top tips for moving your business into managed workspace
9. What is entrepreneurs' relief?
Small Business News
10. Larger 'Time to Pay' agreements will cost £42,500 says accountant
11. Most small companies not planning for post-recession recovery
12. Number of company liquidations could hit highest level since 1992
Small businesses squeezed further
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Yet again it seems that small businesses are being left at the back of the
queue when it comes to being paid.
New research by Bacs shows that UK small businesses are waiting an
astonishing 41 days longer than their agreed payment terms before invoices
are settled. An increase of over 9 days on the June 2009 figures.
The study shows that large companies are the main late payments culprits,
with 37% of small businesses citing them as the worst offenders when it
comes to late payment.
It's not surprising that 'cash flow problems' were given as the most common
reason for overdue payments, with 39% of respondents saying it was the main
reason given by customers for paying late. 7% of respondents said their
customers blamed the economic downturn and a further 7% said that being paid
late had a knock on affect on their ability to make their own payments.
For those of us that have heard it all too often ourselves, it's
heartening to know that 4% of our fellow small businesses are given the
old, 'the cheque is in the post' excuse as well!
If late payment is a problem for your business, you will find plenty of
guides and tips on dealing with the issue in the Business Finance section
of Bytestart including;
What to do when a client refuses to pay or can't pay
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http://www.bytestart.co.uk/content/finance/43_2/late-paying-clients.shtml
Top tips to manage bad debts and increase cash flow
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http://www.bytestart.co.uk/content/finance/43_2/cashflow-debts-tips.shtml
Invoice Finance and Factoring for small businesses
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http://www.bytestart.co.uk/content/finance/43_2/invoice-finance-and-factoring.shtml
Looking at your business website from a visitor's point of view
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Google has confirmed that website speed will now be taken into account when
working out search engine rankings. Although this will just be one of many
ranking factors, it is small businesses who could most benefit from this
change, according to an insider at the firm.
http://www.bytestart.co.uk/content/15/15_1/google-site-speed.shtml
Why website owners should focus on links rather than obsess over 'keywords'
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A decade ago, site owners were obsessed by 'keywords' when seeking to propel
their sites up the search engine rankings. Given that Google doesn't even
recognise the keyword tag in webpages, we explain why website owners would
be better off concentrating on building relevant links to their website.
http://www.bytestart.co.uk/content/15/15_4/google-keyword-tags.shtml
How to get free publicity - The 5 Unbreakable rules
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Good publicity can help to propel your small business to another level.
Contrary to popular opinion, it's not that hard to generate free press
coverage if you follow these five powerful and unbreakable rules on getting
free publicity for your business.
http://www.bytestart.co.uk/content/marketing/pr/free-publicity-rules.shtml
The secrets of work-life balance: work smarter, not harder
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Work is entering our homes and private lives far too often, changing our
balance and natural working equilibrium. Here are 10 ways for you to improve
your work-life balance.
http://www.bytestart.co.uk/content/office-home/homeworking/work-life-balance.shtml
Annual Investment Allowance - how does it work?
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One of the few increases in tax allowances disclosed in the Budget last
month was a doubling of the Annual Investment Allowance, from £50,000 to
£100,000. So, how does the AID work in practice?
http://www.bytestart.co.uk/content/taxlegal/9_6/annual-investment-allowance.shtml
How should limited company contractors and freelancers pay themselves?
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Limited company contractors can pay themselves in a number of ways,
dependent on whether their work is caught by the IR35 rules or not.
How salary and dividends are calculated.
http://www.bytestart.co.uk/content/contractors/contractor-guides/ltd-company-contractor-pay.shtml
Top tips for moving your business into managed workspace
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Managed workspace is becoming ever more popular for small businesses and
start-up companies looking to establish themselves. We look at some of the
key things to consider when selecting a managed workspace.
http://www.bytestart.co.uk/content/office-home/office/managed-workspace-choose.shtml
What is entrepreneurs' relief?
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If you sell all or part of your business, you may be able to claim relief
on the capital gains tax liable on the proceeds, providing an effective
10% CGT rate on qualifying amounts up to a lifetime 'allowance' of £2m.
http://www.bytestart.co.uk/content/taxlegal/9_7/what-is-entrepreneurs-relief.shtml
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SMALL BUSINESS NEWS
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Larger 'Time to Pay' agreements will cost £42,500 says accountant
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The average cost for the Independent Business Review needed for larger
'Time to Pay' agreements is estimated to be £42,500, according to a
leading accountancy firm.
http://www.bytestart.co.uk/content/news/1_12/time-to-pay-costs.shtml
Most small companies not planning for post-recession recovery
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Research from The Open University Business School has revealed that only one
in nine small firms are implementing post-recession recovery plans. These
firms are also the most optimistic about their immediate prospects.
http://www.bytestart.co.uk/content/news/1_12/post-recession-recovery-plans.shtml
Number of company liquidations could hit highest level since 1992
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The number of companies entering liquidation in 2009/2010 is set to be the
highest since 1992.
http://www.bytestart.co.uk/content/news/statistics/company-liquidations-up-2.shtml
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