Foreigner’s Possibilities to Buy Business in the UK

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December 24, 2020

Even if you are not a resident of Britain or a foreigner, it is possible for you to buy a business in the UK provided you should abide by certain rules and conditions to buy any business that you have planned to. Moreover, it would be beneficial for an individual to invest in the UK since the laws and rules related to the business are very much transparent, appealing, and investment-friendly for the people to buy companies as per the requirement even for a non-resident.

If you had planned to buy a company in the UK or start a small business in the UK then there are certain eligibility criteria and conditions that you should fulfill. The purchase deals may vary from business to business, but in this article, you can find the overall guide/principles to buy a business in the UK that applied to all types of business.

Criteria & Aspects Considered buying a company in the UK as Foreigner

Besides all these, there are plenty of business opportunities available in the UK for foreigners. The first criteria are that you should work full time or be actively involved in the business trading under your own account or in partnership as a director.

You should not be in any other employment in the UK rather than the work process involved in your business. In addition, you should be ready to invest or render services that actually needed for your business in the UK.

Apart from the above criteria, there are also some of the aspects or factors to consider when buying a company in the UK as a foreigner and they are,

Payment Estimation Structure

When you had planned to buy a company as a foreigner in the UK, the first thing you have to look into is the Price you fix to buy that company. This can be fixed by determining the

Assets or net Profit of the Company
Business Performance currently and in the forthcoming years after the purchase
Based on the years or months the company has deferred

Still many other aspects based on the business nature, whereas the above-mentioned remains the same for all types of business. While taking over an existing company, you must be provided with a written statement of you taking over the business along with the auditing statements of previous years. In addition, certain people from certain nationalities can apply for the “European Community Association Agreement”, which when people qualify this agreement will not require a work permit. Countries included in the process are Bulgaria, Estonia, Hungary, Lithuania, and Romania.

Sales Documents and Agreement

When buying a company in the UK, the Sales and Purchase Agreement must be very clear and transparent. It should include the following documents,

Warranties provided by the seller
Employment Contracts- At the time of joining a few employees may enter with an employment contract on years or months all those details handed over by the seller to the buyer for future reference.
Shareholders Agreement-, which is more important in a business. Details of all shareholders provided.
All Financial Statements involved
Transition service Arrangements
Confidential documents from the seller and the limitations on liability
Tax Covenant- The tax analysis may be complicated during the purchase of a company in the UK, so one should focus more on the account status of a seller as well as the buyer.

These are some of the important documents provided to the buyer when buying a company and for more details; you can refer to the Laws of the UK Government related to the business structure.

Visa Requirements

An individual must be clear with all the rules, laws about the UK government, know the ways of how/stipulations of a non-resident of UK to start up a business in the UK or buy a company in the UK; along with all these should certainly have a visa or apply for the UK citizenship before they start their business.

There are different visas available in the UK based on the nature of your business and work. For Example, the tier 1 visa is opted for the entrepreneurs/ sole traders and similarly others for skilled workers and so on. So choose the correct visa type for you and plan accordingly. You must also be ready with the funding for your business investment in the UK based on the business structure you choose like the private limited company(ltd), Public limited company, etc.

Business Insurance

After the complete analysis and verification of the above process like documents and agreements and had satisfied the visa requirement, last but not least you must be aware of the business insurance more important factor to run a business smoothly in the UK. You should ensure that you have the right level of insurance to abide by the UK Laws and protect your business in the right way. Similar to the visa there are different types of business insurance available from which the individual has to choose the right one based on the nature of his/her business.

It is also important that you have a consultation of finances, taxation, and business planning of your business with the perfect expert or find it from the UK government’s website. The site will provide you the details of current supporting schemes for your business and details of the startup loans.

Conclusion

Hope this article has covered all the aspects involved to be known by the individual when planned to buy a business in the UK as a foreigner. Focus more on the above-mentioned factors, run your business successively in the UK, to reach your Goal. All the Best for your future endeavors.

Stipulations to Startup up Business as UK Non-Resident

By

Emily

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December 23, 2020

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Since the Business market in the UK is phenomenal and profitable many people had planned to start up small businesses in Britain. Moreover, it has become more viable to startup a small business in the UK even if you a non-resident of the UK, since the legal procedures and the application process is the same as per the UK government for all individuals regardless of your living. The basic requirement to start up a business in the UK as a nonresident is that you are supposed to register your business within Companies House in the UK with at least one shareholder or director if it is a limited company based on shares. These shareholders can even possess one or more companies which not a constraint.

In recent years, one of the surveys has mentioned that there are nearly 1 million-business startups every year in the UK and the government supports the business entrepreneurs in all ways with the help of network angles and some experts for business counseling. There are enormous business opportunities available for foreigners to start a business that includes investors, entrepreneurs in the UK easily in different ways.

Pre-requisites in setting up a business in the UK as Non Resident

The important aspect whenever and wherever you plan to start your business is to create a well-developed business plan, which helps you in deciding your perfect business structure and move forward towards your growth.

The next process is to choose an appropriate name for your business and register your business name. During the registration process, the physical address used for registering, your business must be a UK address. If it is a private limited company then create a “Memorandum of Association” with the signature of all the directors and shareholders. Also, do not forget to register for corporation tax within 3 months of starting your business and pay your tax returns every year within the specified date with the verification of HMRC and Companies House.

Besides all these, you have to look into what type of visa is required for your business,

Working Visa – Based on your nationality this working visa may be required to open or set up a business in the UK. Whereas EU citizens can start their business without any permission and they can live and work without any restrictions in other EEA states.

Suppose you belong to Bulgaria and Rumania then you will need special permission to start your business unless you have an exemption. At times Brexit can also change the situation. In any case, it is always advisable to consult with expert consultants or the UK Border Agency. You can also refer to the point-based immigration system in the UK for the appropriate visa that suits your business.

Pick Right Company Legal Structure

If you have the eligibility to live and work in the UK then the next important step is to decide on the business structure as mentioned earlier whether you choose private Limited company (Ltd), public Limited company (Plc), and limited liability partnership.

If you choose the private limited company then you should have at least one shareholder, with no minimum capital and a director, and maintain proper accounts for your business with the right accounting firm.

A public limited company is you will be able to offer the company share to the public where it is applicable for larger businesses with a minimum share capital of £50,000, 2 directors, and maintain perfect financial statements if the turnover exceeds 1 million with the auditor.

Limited Liability Partnership is a type of business structure suits all type of business, mostly used for joint ventures. It is a combination of traditional partnerships and limited companies. The basic requirement for this structure is a minimum of 2 members with limited liability and the registration process as in the case of a limited company.

Uk Bank Account for your business

As London is the world, the best financial Centre and almost many countries bank have offices over here. In order to start up a business in the Uk as a non-resident, it is better to have a bank account in Uk which makes your business trading easier and fulfills all your transactions immediately. Suppose you wanted to open a bank account in the UK, the opening process is the same as that of all banks all over the world where you will have to provide documents for proof like a passport, etc.

Conclusion

The prerequisites in setting up the business in the UK as a Non-Resident is clearly explained and also the wide range of opportunities available in the UK to start up a business is also mentioned that helps you in all ways.

Business Opportunities in the UK for foreigners

By

Emily

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December 22, 2020

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starting business in the UK as foreigner

As the UK is the sixth largest economical country in terms of GDP and the best place to start a business with plenty of opportunities available for many small business owners and entrepreneurs. Moreover, the UK government supports small business organizations by providing funding and other expert counseling as a beginner. They extend their fullest support to the business with the UK’s stable economy, perfect legal structure, and a wide variety of consumer markets. Many potential entrepreneurs’ dreams come true in starting up a small business in the UK and reach goals easily.

Factors to start a business in the UK as a Foreigner

Anyone belonging to any nationality can start a business in the UK. The basic requirement involved is the company you start to register your business in the UK address. For this purpose, you can either purchase or get a rental property from a friend or anyone else who permits you to register your business at their address.

In addition to this, you should also consider the visa, i.e. you may have to apply for a working visa before starting a business in the UK depending upon your nationality. The UK government has specific rules and regulations to guide you in starting the business legally. In case you want to apply for the visa then you should know the complete process of starting your business in the UK and applying for citizenship easily.

If you planned to start a business in the UK then it would be better to have a bank account in order to avoid so many costs in terms of fees and other transactions especially when local trading performed. However, having a bank account is not mandatory. For money management, it would be always better to have a UK bank account for your business.

Insurance required when starting a small business in the UK. Actually speaking Business insurance is a proactive action, which helps you to travel in the UK business market easily. If anything goes wrong, unfortunately, the insurance will be a reassurance and helps you be in peace of mind. As a beginner when you are unfamiliar with the UK business system then it is highly recommended to have insurance for your safety.

How to start a business in the UK as a Foreigner

To start a business in the UK you have to consider two different aspects, one is a legal liability and the other one is a legal entity. Apart from these, there are different aspects to consider in starting the business or simple ways to be followed starting a business in the UK.

The initial process you have to do during the startup of your business is to consult with the immigration lawyer and be clear with all rules and regulations. The next step is to check for the legal and compliance issues in setting up your business in the UK with plenty of information available online from the UK government site.

It is always advisable to consult with the accountancy firm and legal firm with an expert before starting the business.

Suppose you decide to operate as a limited company then you have to register with companies house or any of the intermediary to help you in this aspect.

With the help of HMRC register for tax and as a self-assessment taxpayer if incorporated.

Also along with all as mentioned before, based on your nationality think about your visa process before starting a business in the UK as a foreigner. Tier 1 Entrepreneur visa.

Always be clear with the business plan, choose your target audience, and move your business in the right direction with the right decisions made prior.

Business Opportunities in the UK as a foreigner

There are abundant opportunities available for small businesses in the UK. Best business ideas to invest in 2020 in the UK. Among many, here we discuss a few,

Start an Accounting Firm

Since accounting is an essential service for all, types of business, if you start an accounting firm in the UK you can enjoy more benefits in your business and you will find it very easy to find your Accounting clients in just a few steps. Similar to this you can also start a Coaching business and consulting business and still many more.

Small home-based business ideas

You can be successful, as a high potential and inspirational entrepreneur by starting many online businesses or simple home-based business ideas like selling homemade products, starting coaching classes, or convert your hobby into business and freelancing.

Label printing business

For starting a label printing business, you just need software and a printing machine to run your business successively. Simple ways to start your label printing business and reach your target audience.

Start a business without money

There are even ways to start a business without investing amount or with zero investment. The basic requirement here is you must be clear with the business plan and strategies involved in the business and start your business as a freelancer, and many online businesses like Dropshipping, Affiliate Marketing, Blogging, usage of social media like YouTube, Facebook, and other to post your videos on a specific area.

A web designer or Web developer

If you techy and have abundant knowledge in creating websites with innovative ideas then you can start your business as a Web designer or developer and serve many organizations.

Conclusion

As a Foreigner, you can start a business in the UK with plenty of resources and opportunities available. Well plan your business and be clear with what you render as a service to the people to reach your goals with strong determination. Hope this article covers all the aspects required in starting a business in the UK as a foreigner. All the Best for your startup business.

How to Start Business in the UK & Apply for Citizenship

By

Emily

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December 18, 2020

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Business in the UK

Running a business in the UK was a more attractive place for all foreign nations. Now it has become more complex with the changes implemented in recent years. Still, with a good idea and a perfect business plan, it is possible to even today with a proper execution plan. Here in this article, we discuss simple ideas to startup a business in the UK and get citizenship easily.

With the changes in the point-based immigration system, it has become difficult to get visas for foreign nationals, to start a business in the UK.

How to start a business in the UK

There are a wide variety of business types available in the UK and it depends mainly upon the individual to choose the best business that fits exactly your company profile and structure. The simple procedure on how to start a business depends mainly on various factors among those, which are most importantly considered, are,

Feasibility in the Business idea
Proper understanding and Assessment of running your business
Perfect Business plan
Perform a complete business research
Choose a business name and register your business
Approach for financial funding for your business
Business Advice form an Expert Consultant

Be clear with the above factors and execute it clearly without any dilemma so that your business reaches the target customers and helps you to attain your Goal easily.

Benefits of Investing in the UK

As the UK or Great Britain considered as a well-advanced or high economic country, investing in such country offers you many benefits like,

Visa Free access to nearly 164 countries
Transparent Legal system process
Fewer hurdles to the entrepreneurship
Tax benefits for non-domiciled individuals
Simple taxation for all small business
Enormous business opportunities
Good and high-Quality life
Skilled and productive manpower
High standard of education and Healthcare

Still many more benefits are there among which few mentioned here for your reference.

Different Types of business as a Startup in the UK

There are plenty of opportunities available in the UK to start a Home-based business or offline business based on your own expertise. Depending upon the business structure you can start a business either as a sole trader or in partnership with other small businesses or limited companies.

Generic Partnership

This is the business where two or more individuals combine to put in their ideas, share their profits equally, and pay tax jointly based on the profits and debts. This type of partnership best suited for small businesspersons.

Social Enterprise

This is a UK business type that suits well for the persons who would like to share their business profit to meet the requirement of some charitable trusts, social or community objectives. The main motive is to help the poor and the needy out of their profit.

Similar to this you can also prefer some of the limited companies or private limited companies, where you contribute your profit as a share to the companies as a shareholder and increase your company’s revenues and reputation.

Procedures to Get Citizenship in the UK

In order to start up a new business in the UK and apply to get citizenship certain rules and criteria have to follow by the business organization with the help of previous entrepreneurs in the UK. If you are a high potential business entrepreneur or sole trader, starting a business for the first time then you can apply for the startup visa before three months of your travel.

To get a Visa, you need not invest funds in the start stage like the Innovator visa, but the only requirement is you have set up a business in the UK with an exact business plan and execution process.

You can start a business either as a freelancer, self-employed as long as you have the permit to live and work in the UK.

Early-stage Visa Prerequisite

The basic eligibility criteria for the startup visa in the UK,

Business idea planned, recognized by the UK approved body
You are a dedicated and highly skilled worker, investors, or entrepreneurs
You should satisfy the English Language Requirements
18 years of age, completion is more important
Proof of funds/personal servings that could support yourself during the time you spend in the UK
Already invested £50,000 in a UK business before you apply for the visa.

Suppose you want to extend your visa then you have to apply for the existing Tier 1 entrepreneur visa permit and be eligible to satisfy all the required criteria by the UK government. Moreover, you should have invested nearly £200,000 in a UK business excluding loan or property or £50,000 as an initial funding source.

In order to extend your visa, you should register as self-employed for more than 6 months in the UK and permitted to stay over there using the original visa. To extend your visa it is more important that you abide by the rules and regulations of the government and follow the immigration laws strictly.

In addition to all these, you should also ensure that you have the right insurance level for your business protection in the UK. There are different types of business insurance available, so make sure that you choose anyone based on your business. Also, be aware of the current support schemes by the UK government for your business and UK business grants or startup business loans for UK business and the Brexit consequences.

Conclusion

Hope this article has given you the gist of how to start a business in the UK and the ways to get Citizenship in the UK with eligibility details and requirement based on the type of the business you choose.

5 Easy & Secret Tips to Find Counseling Clients UK

By

Emily

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December 14, 2020

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Starting Up Counseling Business

The 21^st century has revolutionized the counseling industry largely and the demand for career counseling has increased a lot in the last 10 years. Planning to start up a new business in the counseling industry is a perfect choice of business ideas in the current scenario. After planning for your business the next step to move forward is to concentrate on the target audience and the ways to find the counseling clients in the UK to approach you very impressively than moving towards your competitors.

Here in the article, we discuss the simple and secret way to attract and find counseling clients to your private practice-counseling center by simply following the smart strategies of enhancing the visibility of your counseling business.

Tips to Attract people to your new Counseling Practice

1. Define Niche for Yourself

As the beginning, stage of your counseling practice the important factor you have to concentrate on is fixing your niche perfectly and find the ways, which make you happier by counseling your ideal clients. Based on your niche, you can become an expert in a specific area, get specialized grow faster in your counseling practice.

In addition to this, it becomes easier to find your counseling clients in the UK by clearly defining your niche and choose your clients based on that which brings you satisfaction in your career. Similar to this when people or clients search for counselors or therapists for the problems they search for the specialists in the specific area in which they have problems that would be an added advantage for your practice.

Moreover, from the marketing point of view, it is more important to think out of the box or stand out from other competitors so it always better to fix your niche and search based on your specialization. It helps the clients also to narrow down their search based on their specialization and find the counselors.

2. Event Networking

Once started your business and trying to find your counseling clients in the UK then try attending events, meetings, and gathering where you can meet people with a different mindset and at times get some professional contacts. Each individual you meet may be a referral source for your counseling business and helps you to find your counseling clients easily.

The ultimate goal of event networking or the business network phenomenon is to be open-minded and have a free discussion with the clients or people who meet you that helps you to nurture your business and know your specialization clearly when you have a discussion with them.

Besides all these, when you attend these meetings or gatherings it provides you an opportunity to put your business cards to the right people, which creates more awareness about your business among people and helps you to reach out even adults and teenagers of different kinds and ages of people.

3. Local Advertisements and Branding

Searching or finding for counseling clients in the UK, then local advertisements and branding is the best marketing strategy involved in finding your business clients and develop your business to the next level. The local advertisements are done using either websites, social media, online ads, business directories, etc…all of these would help you in finding potential clients.

A good online presence is one of the best ad successful marketing strategies. You should have a good website, which has greater visibility online, which in turn helps you to find your clients effectively by joining in many online social groups. The website you develop must be client-friendly and must speak everything about you & your contact details, office location, service cost, etc.. so that the clients or people know your specialization clearly and choose you without any confusion or hesitation.

Additionally blogging helps you a lot to establish yourself among the people and increase your SEO Google Ranking that helps to enhance your visibility and boosts your business contacts. Apart from all these, it is more important to keep all your social media accounts active so that the clients feel free to call or contact you easily.

4. Generate More Referrals

The best way to promote your counseling business is to establish a rapport and friendly relationship with the clients and promote progress whenever and wherever needed. The service you provide for the clients must be satisfiable by all customers such that they spread by words about your service to others and bring you more referrals for your business growth.

Always it is important to make an effective effort to make those contacts regular that boosts your counseling practice and find clients more easily and effortlessly.

Always be active and be more involved in the community or network with great effort and hard work.

5. Learn from Past Experience

Gather or learn from previous specialist experience or to be simply learned from others. Learn from the past, know about the struggles they have faced, and try different ways and techniques to overcome those situations easily in the current scenario.

Another best way is to spend time listening to the previous experiences from various counselors as well as some of the podcasts geared to future counselors or therapists. Read many books and gain more experience in finding the right and potential customers for your business.

Conclusion

Hence the above-mentioned are the Simple and Effective marketing strategies in finding counseling clients in the UK for your counseling business growth.

How to Find Accounting Clients in the UK

By

Emily

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December 13, 2020

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Nowadays many start a small business in the UK with handsome knowledge on business bookkeeping, record maintenance, payroll, or tax preparation. In order to concentrate more on their business and since they do not have much time maintaining the finance reports, they prefer hiring an accounting services firm in London who is specialized in business finance, which would be a significant value for their small business. Accounting firm services can reduce operational costs and certainly increase business revenue largely.

As there is a huge demand for accounting firms like Gorilla Accountants, many ways are feasible and easy to find accounting clients in the UK with the advancement of technology in all aspects like powerful apps and social media marketing. Moreover, the modern accountants in recent years focus on paperless office work and cloud accounting, which done remotely as per the request and need of the clients. In addition to this, they also ensure that the services rendered by accounting firms must meet the owner’s budget and their financial needs.

What is Accounting?

Accounting is the process of daily analysis, tracking, and recording of an organization’s finances. The analysis made by the accounting financials allows many small businesses to determine the cash flow in advance for potential expansion. Here in this article, we had discussed some of the simple strategies to find the accounting clients,

10 Simple Strategies to find Attracting Clients to your Accounting Firm in the UK

1. Narrow down your Niche and Develop a Proactive Network with Clients

Always focus on what actually; clients need or what should you offer in a great deal. Suppose if you are in a plan to offer for small business or specific industry then get involved in those organization trade associations and industry groups. Create a proactive network among yourself and be clear to express your thoughts and ideas in conferences and many other networking events. With the usage of social media. Be sure that you develop a strong business-networking phenomenon. So being closer to the network groups not only increases the chance of visibility but also helps you to stay on the cutting edge.

You can know the client’s potential issues and try to solve their issues easily. Always great content will increase the client’s attention towards you and moreover show off your expertise and make an initial connection with the clients with more confidence in you, which is more important from a business perspective.

2. Asking for Referrals

When finding new clients for your accounting firm, it is more important that you wider your search, know more about the specific business people who really want your accounting expertise. The marketing strategy plays a vital role in all days to attract new accounting clients and seek more recommendations or referrals from your friends, family, and colleagues. Speak off your new accounting business firm to everyone as much as possible and try to share your business cards (a good marketing strategy to increase your business visibility) to people when you meet them in a large network, which helps them to approach you easily in future.

3. Optimization of Business Website Ranking in Google Search Page

The most powerful tool that we have among all of us is the google search that provides exact solutions for almost all searches made. People search for many things related to business accounting and find their respective firms for their businesses as required.

So based on these it is a better technique to optimize your website rank well in google search using some of the SEO techniques to enhance your site visibility which in turn increases the possibility of getting your target or potential accounting clients for your business. Always be well trained or you must have good exposure to the Google search algorithm m and accounting industry to make everything possible.

4. Update your Firm with the Business Directories

Make use of the business directories to register your business and it is free to claim your business listings in google. Update all details of your business like including your business hours, a small description of your business, and most importantly your contact information for the clients to contact you further with all these necessary information. All these will definitely increase your visibility among potential customers and makes you find your accounting clients easily.

5. More involvement with Social Media Groups

As mentioned earlier many of the social media like Facebook, LinkedIn, YouTube, and various other Media help all business people in their marketing techniques. By using all these you can just start to ask small business owners to join the group and answer their accounting queries and offer additional help online or offline. In addition, you can provide some specific and reputed professional referrals (form your contacts) as per the business requirement of the accounting clients, which in turn helps you to attract the accounting clients easily.

6. Content Marketing

To find your new accounting client UK, if you are skilled and talented in creating “Quality content” then you can obviously start writing a blog related to your accounting firm. You can be a guest blogger site that your potential clients do visit often and enhance your visibility. Be sure that you post high-quality blogs with relevant keywords and include a link to your website URL or any other information, which makes the accounting clients reach you easily. In addition to this, you can also try with making videos, which is becoming popular nowadays like the podcast, webinar for your site.

7. Prefer Exchange of Services

When finding accounting clients you can exchange the accounting services for other entrepreneurs’ products or services. For e.g. barter your skills and service to a graphic designer in order to design a logo or a website designer to enhance your website visibility. Try implementing an exchange of services with the local business owners, which helps you in gaining a good relational ship with other businesses, and in turn, it could be or might be a referral for your accounting firm to attract new clients.

8. Declare the Best Process that you implement

Discuss with the clients about your work nature and the best process you give out to your clients, which are more attractive like

The number of clients each year is strictly limited
Clients treated with the respect that the relationship continues even after the tax process
Serve what the accounting clients expect and really want
More importance is given to clients feedback

These are some of the simple best processes that you can assure your clients and turn their attention towards you.

9. Be a Proactive Accounting Firm

In order to find a potential accounting client for your firm, you should be more smart and proactive in your financial aspects. Do accounting for your current organization, try to show off the work done in a smarter way to others, and prove yourself, why they should choose you like the best accounting firm for their small business organization.

10. Be Transparent

Always be transparent in your work process and make it clear to your potential clients so that they choose you without any confusion. Help them in all aspects of their business and make them believe you and rely on you for their business development. So far that you must be strong enough in all technical aspects and know much more about the happening all around.

Conclusion

Hence the above mentioned are the 10 simple strategies to implement effectively in finding your accounting clients in the UK. I Hope, the article was more helpful for the reader to start finding the clients faster.

10 Constructive Ways to find Bookkeeping clients in UK

By

Emily

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December 12, 2020

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Bookkeeping Business

As many people are interested in starting a new startup business and the UK government is encouraging the higher growth of the small business. In the current scenario, found that there arises more demand for the support of bookkeepers. Moreover, people can start these bookkeeping businesses from their own comfort as a home-based business and earn greater as a full-time income. If you were strong in mathematics and finance background then starting a bookkeeping business would be a perfect choice and the right path for your business.

Working process of Bookkeeping Business

The working process of the bookkeeping business is to maintain the daily finances of their client companies, which includes payroll, paying, creating finance accounts, and issuing customer invoices.
Additional to this they are also responsible to check the financial reports and the figures for accuracy.
Often the bookkeepers are referred to as accountants where they focus on large monitory pictures and it requires a bachelor’s degree in accounting or finance but whereas in the case of bookkeeping the degree or certificate is not required.

Benefits of bookkeeping business

Implement the bookkeeping business with a good bookkeeper, and enjoy various benefits listed as follows,

Good Financial advisor
Compliant with law
Easier to plan
Report instantly
Good Relation with bank and investors
Tax Prediction in a better way
Speedy business response time
Financial Analysis made faster
Make ease of audits

10 ways to identify the bookkeeping clients for your business

As the rules of marketing get, changing very faster it has become a tedious task to find potential clients for bookkeeping firms and make effective growth in your business. The best way to identify or find new clients for the bookkeeping firm is to replace the missed ones with a smarter and proactive strategy. Think for the best approach and keep changing the techniques you used before and always be more focused on finding the clients for your bookkeeping business always be more focused on finding the clients for your bookkeeping business. Here are the 10 different ways to find the client,

1. Determine Target clients

The prospectus of the clients varies from one client to the other and maybe it would be easier for you to categorize the clients into 3 categories as great, average, and better.

Factors involved in determining the client for bookkeeping business are,

Level of dealing with the clients
Overall revenue they generate
How well you can work with them i.e. more effectively
Profitability level
Positive exposures by them
How well they communicate with other great clients

Apart from these, there are also various other factors involved in finding the client for the bookkeeping business UK. However, the major constraint depends on the area of expertise. As a beginner, you may also start a business with less profitable clients in order to build your reputation. If you are specialized, you can charge with the premium rate and it is always preferable to choose clients based on your expertise, which increases your profit and the right path for your business.

2. Partnership with Trusted Professionals

The client you choose may be in connection with firms that offer services that you do not such as,

Investing advice by experts
Need for recruiting
Technology-based solutions
Legal representation

Even if you do not provide the above services make sure that you establish your business with other trusted professionals who provide all these offers. You can also refer these professionals like good lawyers, recruiter, technology consultant, and advisors, which helps your client a lot more in their business, and in turn, you may obtain mutual referrals from them.

3. Be bold and Ask for Referrals

It is difficult to find out the best salesperson than a satisfied client for your bookkeeping business. Always a better salesperson interacts with other business people and tries to enhance the business. Therefore, it is always better to ask for referrals that certainly add value to your reputation.

Be proactive always and ask your best clients to spread the word about your firm. Try using professional networking services like LinkedIn for recommendations. Provide your existing clients with discounts and benefits as a result of referrals they make for you.

4. Complementing services to existing clients

The growth of business increased by just offering many additional services to your clients in an exceptional way. If the clients use the same services as your competitors then try to explain what makes you different from your competitor and why they should choose your service. To explain yourself unique you can conduct a special meeting or some professional events to make yourself more effective.

In addition to this, you can also provide various offers as an additional service, which they might feel more advantageous than others can. Moreover, always keep yourself updated.

More accuracy and data that is reliable
Smarter and fast working people
Improved productivity
Free benefits wherever applicable

5. Find Effective means of Network communication

Networking phenomenon is most effective in business especially to serve other businesses easily. Before you attend, any event is sure that you are well prepared and know at least a few details of the members participating in the same event. All these would help you to show off yourself and the services in your business meet the requirements of the client’s needs that make them more satisfied. In addition to all these, be sure you meet the key people and keep in touch with those people always.

6. Prefer doing business with likeminded people

When working or starting a business with like-minded people one can find more opportunities and share details related to business easily. Moreover, non-technical events and meetings will certainly provide more networking opportunities. These types of unofficial interactions between the people will help you to form a strong bond between yourself and in turn in all your business events.

7. Business with the same process of technology

With the advancement in technology, more businesses are being moved to the cloud era in recent years. Suppose your bookkeeping business is very well comfortable with remote working then you can find the clients who prefer this kind of hybrid model of work and are updated with technology. If all these aspects satisfied with the customers then there are more chances for your higher growth rate in your business.

Digital marketing is an important strategy that helps in all business activities. In addition, you can discuss some of the technology firms like web designing companies, cloud providers, ISP’s and hosting providers, etc…

8. Conduct seminars and events to increase your visibility

Conducting events and seminars is an incredibly powerful tool to increase the visibility of your bookkeeping business. Communicate your ideas clearly and understandably to the right people in the right way.

9. Try cold calling and visit the clients

Cold calling depends on your perspective, your level of preparation, and execution. A key aspect of cold calling is that how much (as possible) information you obtain from your potential customers before you start your interaction. Be clear in what you speak, what is their role, and always listen carefully to their needs. This would be an effective method to find the bookkeeping clients for your business in a more appropriate way.

10. Make use of Social Media, Blogs, and Content Marketing

Social media is a great source of digital marketing strategy. If you are able to create content by yourself then start writing blogs of your bookkeeping firm and find potential clients for your business more easily. Content marketing is a marketing approach focused on creating valuable, relevant, and consistent content clearly to the clients in order to drive profitable client action.

Conclusion

Finding clients for your bookkeeping business in the UK is not just about searching for, but it is about genuine insights and clear understanding. Implement the above-mentioned steps to find clients for your bookkeeping business.

3 misconceptions about moving your business to the Cloud

By

Sarah Cantley

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December 10, 2020

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Soon we’ll be in 2021 and believe it or not, some businesses still won’t be on the cloud. It’s estimated that 12% of UK businesses are not yet utilising cloud software. And the majority of businesses on the cloud are predicted to maintain hybrid IT estates for some time to come.

The pandemic has forced a massive spike in the uptake of cloud services over the last 12 months. In 2021, those last remaining businesses may not have much choice if they want to retain a well-connected and robust workforce.

So, what’s stopping 12% of UK businesses from moving over to the cloud and the vast majority of UK businesses keeping most or part of their business on-premises? This post explores the three misconceptions that are likely to be holding UK IT managers back.

Moving to the Cloud Is Complicated and Hugely Disruptive

No one is saying that migrating a business to the cloud is a seamless and hassle-free process, that would be a lie. However, people would argue that it’s never been easier to move to the cloud as it is right now. The most prominent players in the cloud game, including AWS, Google Cloud and Microsoft Azure all have fantastic dedicated teams to help companies migrate. They also provide a wealth of guides, resources and even a live chat system to help your IT team migrate the business as smoothly as possible.

Microsoft 365 are particularly well-known for their helpful migration teams and excellent guidance. Their teams can help your IT department with anything from firewall configurations to exploring migration possibilities. Every business will need a slightly different path to migrate to the cloud successfully and cloud providers can accommodate even the trickiest businesses.

Cloud providers can include any online tool, guide and troubleshooting to help guide your business to a successful migration.

Control over Company Data and Privacy Security Will Be Lost

One of the most significant reservations for many businesses moving to the cloud is the fear that control over security will be lost. This is a more than reasonable fear considering the worrying rising numbers of cybercrimes being reported.

However, there’s no evidence to suggest that the cloud is any less safe than storing data locally. Your company data may be safer in the cloud than on-premises. The reason being that cloud providers have had to invest heavily in advanced security to help sell their services to the business world.

The cloud also benefits from advanced Artificial Intelligence (AI), which makes security smarter and more scalable. AI can deal with smarter cyber threats and can continuously learn how to become more secure as time goes on.

Not only is being on the cloud safer for your company data and privacy, but it will also take a huge amount of work away from IT departments as the cloud automatically updates, saving IT staff time and costs.

Finally, if that’s not enough to convince you, the majority of security leaders have said that the security of data on the cloud is generally the same or safer than on-premise. The cloud is quicker to alert you to threats, whereas on-premises security might not even realise it has been hacked.

The Cloud Results in Constant Updates and Is Disruptive to Business

It’s not perfect, but you can expect the cloud to cause a lot fewer headaches than traditional on-premises systems. Most major cloud providers have been developed specifically not to interfere with your business-critical apps by working with software developers in advance. By giving them early access to the cloud and providing them with the tools needed, they can make integration as seamless as possible with minimal disruptions.

The compatibility of business apps with the cloud is always improving, without the need for your IT department to get involved. Updates are automatically installed, making life for IT staff easier. Are there too many updates? There may be more updates than with on-premises systems but the time and energy saved more than makes up for it.

As we move into 2021, the need for the cloud is likely to become increasingly important. There’s unlikely to be a return to “normal” following the pandemic and business will need to adapt. The cloud will allow for a hybrid company where employees can work both in the office and remotely in a seamless but effective manner within a virtual environment.

Top 10 Business Networks for Female Entrepreneurs in UK

By

Emily

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December 10, 2020

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Uk Female Entrepreneurship

The number of women starting a business is increasing year by year from the 2008 downturn in the UK. Nearly about 1100 business are new business startups is set up every day in the UK. The Government of the UK offers different kinds of support for developing Women Entrepreneurs in various fields like market research, finance, etc. It said in one of the surveys that many women entrepreneurs in the UK find it difficult to raise funds that too especially during the pandemic. So in order to avoid all those grievances for women in business the UK government has rendered enormous support to overall aspects they expect.

In general, as a woman, they had to maintain a work-life balance and overcome many hurdles in their life personally and as well as in the business.

Barriers faced by Female Entrepreneur towards the growth of their business

Fund Raising

Raising Capital considered a major barrier for all female entrepreneurs. Most of the funding they get is from family loans, personal savings, credit cards, and home equity loans. That is not the case nowadays, everything has changed and many corporate investors, angel investors, venture capitalists, grants by the UK government is ready to assist the female entrepreneurs in their business growth.

Lack of Support

The business network is yet another barrier for the female entrepreneurs, where they struggle against the male-dominated working environment. Now the women have the capability of creating their own sub-networks, which considered more advantageous in the gender-biased community.

Access to Mentorship

Many female entrepreneurs lack in finding mentors and small business networking opportunities for their business. If there were, more mentors to guide them in all aspects entrepreneurs would feel more confident, work effectively, and feel stronger. However, this situation is also changing nowadays where many business networks started and are growing high by enhancing the key role of mentorship and exact networking opportunities for women.

The above-mentioned are few barriers that female entrepreneurs face in the growth of their business every day. The UK Government has taken measures to overcome these factors and support the female entrepreneur’s business growth, which creates a great impact on the UK economy also.

In order to help the female entrepreneurs in their business and move on successively to the next higher levels, we had shared the collection of new community networks or business networks for women to support and encourage them to achieve their dreams and goals easily with these available resources.

Few suggestions to improve women Entrepreneurship

Successful training in business skills could empower the female entrepreneurship
Enhance personal empowerment skills
Innovative participation and problem-solving techniques
Initiating macroeconomic policies
Fund scheming options that help them to raise capital.

Based on the above suggestions currently in the UK there are many Business networks that support women in all the above-specified aspects to succeed in their business. Let us discuss the top leading business networking phenomenon.

Leading 10 Network Community in Business for female entrepreneurs

1. Female entrepreneur Association

The Female Entrepreneurship Association is an online hub that inspires and empowers women all over the world. It offers many hosting features that include a 10-minute video every week, which gives tips for female entrepreneurs to succeed in the business. Online Masterclasses are also conducted and one of the popular free magazine “She Means Business” that turns your ideas into reality and help you to build a widely successful business. A weekly podcast “The She Means Business Show” an inspiration dose to succeed in your business. There are also membership site and member’s club to help all the female entrepreneurs in all aspects as they expect.

2. We Are Tech Women

We are Tech Women founded in the year 2015, to help women working in technology and maximize their potential growth. They had worked nearly with 40 multi-sector corporate organizations to retain and develop their female tech talent. They also support initiatives that encourage young girls to pursue STEM careers. Moreover, the host’s events and conferences as well as the Techwomen100Awards, which started in 2017 and running successfully.

They have all up-to-date podcasts new articles and books related to women’s success in tech-oriented business. Now we can know that the tech industry is developing a lot with a 17% increase in the tech sector with the budding female entrepreneurs.

3. British Association of Women Entrepreneurs (BAWE)

BAWE started in the year of 1945 and extends greater support to female entrepreneurs for a long time. It is a member of FCEM Femmes Chefs’d Enterprises Mondial, the largest organization for female entrepreneurs in the world, and is represented in 120 countries currently. The BAWE “Aspiration” program offers training and development opportunities for women and they can attend regional, national, and international conferences.

BAWE welcomes women who want to develop global brands with an exceptional group of members to achieve and as the pride of their organization.

4. Women Entrepreneurs UK

Women Entrepreneurs UK is a website exclusively for females who have the determination and aspiration to develop their own business. It provides advice and ideas to raise funds for your startup business and helps the women to overcome the challenges faced by them in business with expert advice. It has various categories where it has separate categories for women Business Grants and Business Loan for Women. Even a cultural section is available that highlights the issues faced by Asian and Black female entrepreneurs in specific.

Social networking or Social media channels also play a vital role here as if Facebook, Twitter, and MySpace are allowing women to connect and learn among each other.

5. She can, she did

She can, she did is a website of a business network that put many inspirational stories or blog from other successful female entrepreneurs and especially the failure note from which other women entrepreneurs can correct their mistakes and succeed in their business easily. People can join in Midweek mingle and try connecting with other entrepreneurs and help each other.

6. Hatch Female Founders

Understand the challenges faced by female entrepreneurs and help them to overcome it. Moreover, by identifying the superpower within yourself, employ to grow your business at every stage successively. If you are a female entrepreneur and want to grow your business 10 times bigger in the next 10 years, then the female founder accelerator would be the perfect and best program to take your business to the next higher level. Some of the benefits are,

Expert-led session on core business areas like (operations, sales, Finance marketing, branding, leadership, and HR)
One to one technical support, business coaching, and expert counseling
You can also get access to a network and supportive community of female founders.

7. Blooming Founders

Blooming founders are small business networks with big Ambition to achieve in life. They help many female founders and diverse teams to succeed in their respective businesses. They are actually the content, media, and training company that helps the knowledge experts and content creators startups and build an audience and gain more clients and customers online. They strive hard to uncover the most practical and tactical insights from brilliant founders, investors, and industry experts.

Note: Due to pandemics all their program are held online, free of charge.

8. Women Mean Biz

Women Mean Biz is a serious and empowered women’s business network that really delivers successful business results. They conduct more, valuable business and training sessions for women to develop their business. They are a business network with professionals and like-minded businesspersons to form relationships and collaborate with other businesses.

9. The Entrepreneurs Network

The Entrepreneurs Network is a business resource or network that is the first organization to draw attention to the equity-funding gap. They are the female founder Forum that comprises of UK’s most successful female entrepreneurs. In partnership with Barclays, they encourage, support, and promote female entrepreneurship. Regular events hosted to connect business owners with other corporate and policymakers.

10. Women in Business Network

The Women in Business Network is an organization for women to gain new business opportunities through a word of mouth. WIBN operates one profession per group policy to ensure that all the members of the group best targeted with each other to collaborate successively.

The major strength of women in business Networks is diversity and support to all types of business that can offer each other. Many franchising opportunities available for their continuous growth and network attract women to support their local business community and enhance their superpower in business.

Conclusion

There are many business networks available among which, the top 10-business network for female entrepreneurs in the UK listed out for the reader’s reference. Hope it would be beneficial for the new business entrepreneurs.

15 Leading & Dynamic Angel Network in UK

By

Emily

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December 7, 2020

0

The Business Angel Networks nowadays are wide-spreading and considered as an important source of funding for all business startups across and around the UK. Angel networks strive to help or bring up the country economy well after the Covid-19 Pandemic and it helps the young and innovative minds in bringing their companies with new ideas, services, products, and jobs.

Role of Angel Networks/Investors

Angel Investors or sometimes termed as Business Angels are worth investors for all business startups, who look for opportunities to invest their money in the growth of the business. They support all ages of people like retired persons or sportsperson and entrepreneurs. Moreover, they also look keen to take a stake between 20% and 50% of your startup in return for the investment they had made. In addition, the investment made by them totally differs from other investors or stock market investors. The difference is that they offer the skills and experience that are relevant to their startup business in an efficient way, which in turn helps you to enhance the performance and the prospects.

An Angel investor considered to be an alternative to VC (venture capital) that is less corporate, more diverse, and personal.

Angel Networks Investment Deals with

Nearly 1029 companies have received investment from angel networks in the UK among which 45% of companies were in the seed stage during the investment and now categorized as venture stage companies with a slightly higher proportion of 47%. Similarly, many companies have grown to a higher potential with Angel network investment.

Most of the UK’s active angel networks are in London or Edinburg. Apart from these, there are also few hubs in and across the UK, which include Glasgow, Cambridge, and Oxford. Almost 42% of companies invested by angel investors are technology/IP based business sector and a wide range of other business industries in the business network phenomenon.

Impact of COVID-19 on Angel Investment

From the year 2011, the UK’s angel networks investment had a continual increase up to 2019. Moreover, in 2019 there was a dramatic increase in the deal size nearly £43m which is double that of the previous year. However, in the year 2020 due to the pandemic, the angel networking investment in the UK has dropped significantly, and there raised economic uncertainty.

One of the investors from Angel Network named Emmi Nicholl has mentioned that they focus their energy and resources on ensuring that the portfolio companies are well supported.

Top Angel Network Investors in the UK

1. Envestors

Envestors had invested around 130 high growing businesses mostly in internet platforms and Software as a service (SaaS). There are around 4000+ investors in Envestors who invest between £250k and £2m in equity funding. They had made 1674 deals and the total funds raised is £112,925,935.

2. 24 Haymarket

24 Haymarket mainly focuses on growth equity and venture capital investments in the UK. They invest in companies that have demonstrated initial commercial traction. They have nearly 100+ sophisticated investors with about 49 lead investments. 24 Haymarket seeks the Optimisation of each investment without a constraint to traditional fund structure.

3. Galvanise

Galvanise provide the investment for early-stage tech business. Their ultimate focus is on marketing technology, advertising technology, data, and analytics spaces. In this way, they aim to present unique opportunities for startup tech investors. Galvanise has many years’ experience in the digital sector by which helps to simulate, transform, and drive the effectiveness and the growth of a business.

4. Newable

Newable is a Values-driven business. They aim at helping the business to attain a sustainable profit. Their values are defined as the result of a companywide engagement process. They also have plans and ideas to triple their profit in the next five years and be a part of growth for all businesses.

5. Equity Gap

The equity gap is the Edinburgh-based angel investment syndicate which was established with the aim to help the entrepreneurs looking for early-stage business funding. Equity Gap members invest in over 30 companies, leveraging over £70m in total investment into this portfolio. Moreover, the investee companies have created over 400 jobs, primarily in Scotland, across a range of sectors including consumer products, food, and drink, life science, and SaaS.

6. Archangels

Archangels are the investment and expertise for promising startup based Scottish technology and life science companies. It is founded in the year 1992 based in Edinburgh. With more than 90 investors, it typically coordinates the investment of more than £15million per year in an early-stage Scottish company.

7. TRICAPITAL

TRICAPITAL is the angel investors that strives to help innovative companies to succeed and scale. TRICAPITAL members invest in the portfolio of high potential and high growth start-up innovative companies across Scotland and the north of England.

8. Seedrs

Seedrs enables all types of business investors to invest in a business they believe in and share in their success. They also enhance all types of growth-focused businesses to raise capital and a community in the process. The total investments in Seedrs are around £985m and total fund deals are 1189 with 50 current opportunities.

9. Kelvin Capital

Kelvin capital team is the best UK angel investor with 30 years of experience working with new businesses and understand both the challenges and opportunities in the business and encounter the same during the growth of the business. The team assists and support the portfolio business through its websites and social media activities by raising their awareness and profile.

10. Qventures

It is a private members club for sophisticated investors. Qventures’ experience team highly supports and motivates the professionals who are committed to delivering the best quality and experience in their business. They also collaborate with the quintessential group one of the world’s largest networks engaged High Net worth Individuals (HNWI).

11. Minerva Business Angel Network

Minerva is a part of the University of Warwick Science Park is a network business angel with a group of 10 investors based in maidens, London and Northwest. Increasingly they co-invest together with corporate partners, which has increased their investment capability.

12. Angel Academe

Angle Academe invest in Women Founded tech businesses. They also introduce more women to angel investing. They mainly support the entrepreneurs with the help of advisory board members and a wide network of expert advisors.

13. Astia

Astia Angels are an international network of female and male investors that invests in startup companies, which includes women leaders applied to Astia. They communicate and coordinate well with the portfolio companies to attract, interview, and hire the best talents.

14. Green Angel Syndicate

Green Angel Syndicate is the only angel investment company in the UK specializing in the fight against climate and change of global warming. They do smart investments with sustainable changes. They have a diverse and growing membership of HNWI investors, many of whom play an active role in our investment deals in support of the Management Team. They also support entrepreneurs and early-stage companies with innovative ideas.

15. London and Scottish Investment Partners

It is a Scottish based angel group supported by investors from London and Scottland. The ultimate aim of them is to add expertise, experience, and money, alongside hands-on management support and a fresh strategic business plan. This in turn creates a compelling growth and value accelerator for SMEs.

Conclusion

The above-mentioned are the top leading 15 angel networks in and around the UK that extend great support to all early-stage companies with innovative ideas. Start your business with the support, the help of these Angel investors, and grow your business to the next level with high potential and experience.