1. Online Retail (E-Commerce) Setting up an online store—through Shopify, Etsy, or Amazon—is one of the best business ideas today. You can sell niche products like eco-friendly goods, pet supplies, or digital downloads, with minimal startup costs. Why it’s good:…
1. What Is Labour Cost? Labour cost refers to the total expenses a business incurs for employing staff. This includes not just wages or salaries, but also additional costs like benefits, taxes, insurance, and training. 2. Importance of Labour Cost…
1. What Is a Private Limited Company (Ltd)? A private limited company is a business structure where ownership is divided among shareholders, but shares are not available to the public. It has limited liability, meaning shareholders are only responsible for…
1. Cash Flow Management One of the biggest challenges for small businesses is maintaining a healthy cash flow. Late payments, seasonal sales cycles, and unexpected expenses can strain finances. Solution:Use cash flow forecasting tools, invoice promptly, offer payment incentives, and…
1. What Is a Private Limited Company? A private limited company (often abbreviated as Ltd) is a type of business entity in the UK that has its own legal identity, separate from its owners (shareholders) and directors. It limits the…
1. Government-Backed Start Up Loans This UK government scheme offers unsecured loans of up to £25,000 per founder for new businesses. Key features: Perfect for startups without trading history or collateral. 2. High-Street Bank Business Loans Traditional banks like Barclays,…
1. Government-Backed Start Up Loans If you’re starting a business, the UK Government’s Start Up Loans programme offers unsecured personal loans of up to £25,000. Key benefits include: It’s ideal for entrepreneurs without a trading history or collateral. 2. High-Street…
1. Understand the Recruitment Industry Before launching your agency, gain a clear understanding of: Research industry trends, skill shortages, and growth sectors like healthcare, IT, and engineering. 2. Choose Your Recruitment Niche Focus your agency on a specific industry or…
1. Definition of Market Size Market size refers to the total potential sales or revenue available for a product or service within a specific market over a defined period. It helps businesses understand the scope of opportunity in a particular…
1. New Enterprise Allowance (NEA) The NEA is a UK government program designed specifically for unemployed individuals receiving certain benefits. It offers: It’s a practical first step for unemployed people with a viable business idea. 2. Start Up Loans Scheme…
