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Your EnterQuest Bulletin - Issue 193
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| Thought for the week: "To succeed in the world it is not enough to be stupid - you must also be well-mannered." Voltaire |
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In this week's issue:
If
you have any questions about your business idea or target market, or need help tracking down a grant, subsidy or business support
in your local area, then send an e-mail with your query and location to the EnterQuest
information team and we'll do our best to help.
Send
your question to enterquest@cobwebinfo.com.
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To
access over 800 factsheets, guides and small business reports, go
to www.scavenger.net. |
EnterQuest predictions for 2007
A happy and prosperous new year to all of our readers from the EnterQuest team.
It's customary at this time of year to make resolutions and predictions for the year ahead. Accordingly, we've decided on a single resolution to keep the EnterQuest service fresh, relevant and focused on finding more practical tips, ideas and resources to help you start up and run a profitable business.
We've also made some predictions for the year ahead, in no particular order of significance (or likelihood to happen, for that matter). Here they are, as follows:
1) The market for functional foods will continue to grow as consumers become more concerned and obsessed with the ingredients and nutritional value of what they are eating. With an ageing population, a wealthier middle-class willing to spend more on what they eat, and Government encouragement for healthy eating, this could represent one of the biggest market opportunities of the year.
2) Farm-based holidays and agri-tourism will grow in popularity as more and more people want to experience the countryside and appreciate/learn about how the food and drink we consume in the UK is produced. Opportunities for arranging farm-based holidays, as well as open days, barbecues/picnics, farm tours and talks, are all areas where someone with good rural connections and organisational skills can start a new venture.
3) Baby boomers will spend more of their disposable wealth on themselves and planning for the future of their families. Particular opportunities are in boomers' obsession with retirement and all aspects of their financial planning, as well as in providing consultancy to help with making choices about care for their ageing and infirm parents, and dealing with the time-consuming arrangements that this involves.
4) Opportunities for freelancers in 2007 will be bigger than ever before as both business and public sector organisations seek to outsource specialised one-off and longer-term work to experienced individuals. The biggest opportunities will be in helping with employee and HR management issues, marketing, IT, and anything to do with the Internet and e-commerce.
5) Corporate social responsibility will become a key Government target for future business regulation, making it mandatory for business owners to 'do their bit'.
6) A financial security crisis will hit business as a proliferation in malware specifically targeting business finance outpaces the software security measures designed to beat it.
7) Social networks and blogs will reach their peak in 2007. There are estimated to be millions of ex-bloggers out there already. Participation in social networking sites such as Myspace.com may even become perceived as anti-social and people in general will find new ways to entertain themselves.
8) Free Internet TV will emerge as a major force and it will be worth keeping an eye on developments such as The Venice Project.
9) Google and Amazon will reinvent themselves and will have an impact on everyone's online experience as a result. Amazon will transform itself into a mainstream software company, and it is also reported to be funding the founder of Wikipedia to develop a new 'human-powered' search engine which will be named Wikisari. Google will continue to help us find new ways to download stuff we don't need, look at our homes from different parts of outer space, share pictures of ourselves with people we will never meet, and pay more to advertise for clicks from people who will never buy anything.
10) The Vertical Web will begin to take grow in prominence as the social Web 2.0 phenomenon of the last 18 months sees Internet users gravitate rapidly towards 'vertical' communities with a common interest. This can already be seen on sites and directories such as Simply Hired and Slashdot.
Key legal dates for your diary in 2007
A number of new pieces of legislation are due to come into force this year, so here's a quick guide to some of the main regulations that will affect businesses in the UK in 2007:
1 January 2007
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Limited companies have to include certain information on their websites and in their e-mails after an amendment to the Companies Act 1985. Every company now has to list its registration number, place of registration and registered office address in legible characters on its website, in e-mails and online order forms.
6 April 2007
1 July 2007
1 October 2007
Check out this guide from the DTI about the rest of the laws due to come into force in 2007, some of which don't yet have confirmed dates. The proposed laws include changes to weights and measures rules, new regulations for manufacturers of cosmetics, and amendments to the hallmarking regime for jewellery.
Each
week we provide you with summaries of some popular or emerging business
ideas in the UK.
Here
is this week's idea:
Lifestyle services business ideas
Still looking for a business idea? Check out trend-watching news site Springwise's list of the top ten most successful, unusual or innovative lifestyle-enhancing business ideas from around the world in 2006:
1) Baby planning - a service that takes the hassle out of pregnancy for professional women by handling all the shopping and preparation.
2) Summer storage for students - packing up kit from halls of residence so students don't have to lug it all home for the holidays.
3) Charge lockers - lockers located in public places and equipped with a variety of chargers for mobiles and other portable devices.
4) Discount glasses online - cheaper than visiting the optician if you know your prescription.
5) Electronic tags for kids and keys - never lose anything again!
6) Quick delivery for Internet shopping - some services are now claiming to offer almost instantaneous delivery of goods bought online.
7) Children's party packages - everything you need for a cracking kids' party, packaged into one handy box.
8) Keep track of what you're owed - a tool for friends to keep tabs on who owes what money to whom.
9) Lost and found services - using technology to make the process of returning valuables to their rightful owners simpler.
10) Dating security services - to help single people protect themselves when out on dates with strangers.
Regularly improving your vocabulary is not just about learning a new word and its meaning. It will improve your general knowledge and make you feel and act smarter in all sorts of personal and business situations.
Do you know what the word 'approbation' means?
a) a test or trial period
b) official approval or agreement
c) an informal expression of interest
d) a complaint or dispute
Answer at the end of the Bulletin.
The following topical business issues have been reported in the media over the past seven days. Did your radar pick them up?
1) Which new food trend were retailers advised to make the most of this week?
a) Organic fast food and on-the-go snacks
b) Fairtrade wine
c) Romanian and Bulgarian cuisine
d) 'Detox' food such as blueberries and pomegranate
2) Which health and safety risk is the Government warning hairdressing salon owners about via 'Bad Hand Day'?
a) Dermatitis caused by exposure to chemicals
b) Cuts and nicks caused by use of scissors
c) Repetitive strain injury caused by repeatedly washing and styling hair
d) Burns caused by use of hairdryers, straighteners and curling equipment
3) Which popular new type of account is increasingly being offered by high street banks?
a) Senior citizen accounts, where retired people are given help and support to live on their pension
b) Children's accounts, to encourage a culture of saving for the future among youngsters
c) Cash-only accounts, where customers are not given cards or chequebooks to discourage debt
d) Islamic accounts, where investments must be ethical and no interest is paid
Answers at the end of the Bulletin.
There'll soon be tougher penalties for software abuse
Proposed changes to intellectual property law could see trading standards officers raiding your business if they suspect you're using unlicensed software. A Government-commissioned report, the Gowers Review, also wants software suppliers to have powers to claim damages from businesses that breach licence conditions. It's feared that the proposals could mean businesses get tied in even more knots when trying to understand the small print on software licences.
Postage prices will go up in April
Royal Mail has announced that the price of postage is going up again in April 2007. The price of a first class stamp for a letter weighing up to 100g will increase by 2p to 34p, while larger first class letters will rise by 4p to 48p.
The price of a standard second class stamp will go up by 1p to 24p, and by 3p to 40p for a larger second class letter. Franked mail - both first and second class - will also go up by 2p, so a first class franked letter will cost 32p to post. You can see the full list of changes on the Royal Mail website.
Find reciprocal links for your site
The SiteSell Value Exchange enables you to register your business website as one that is willing to exchange reciprocal links with related, non-competing sites in order to improve your link popularity and therefore get more traffic. You can also search the site for potential partners who may be willing to link back to you.
Who wants to be an entrepreneur?
Many people decide to start their own business as one of their New Year's resolutions. One of the most important decisions you have to make before embarking on the road to self-employment is whether you've got what it takes to make it in business. One way to find out is to try this fun quiz, which aims to discover whether you have the psychological make-up to be a success.
This book has consistently been among the top-sellers on Amazon for the past few weeks, and it's easy to see why. Based on the collective wisdom of contributors to the excellent MoneySavingExpert.com site, it's packed with tips on saving money, living life and doing business in a healthy, ethical and above all thrifty way. Topics covered include how to budget effectively, money-making ideas, and how to shop sensibly. Check out:
Just one word answer
The answer is b).
Approbation means official approval or agreement.
Before you start trading, you must check whether you need a licence or formal approbation from your local authority. |
How's your business radar answers
1) The answer is c) - the accession into the European Union (EU) of Romania and Bulgaria is likely to boost demand for dishes hailing from those countries, as it has done for Polish food.
2) The answer is a) - the Health and Safety Executive (HSE) is warning salon owners about the dangers of dermatitis among staff.
3) The answer is d) - Islamic bank accounts are surging in popularity, and not just among followers of the Muslim faith. |
Visit www.enterprisequest.com to access all back issues of the EnterQuest bulletin. If you have any feedback or suggestions for us to make this service more relevant please e-mail your comments to enterquest@cobwebinfo.com.
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Remember that we guarantee never to sell or give your e-mail address to anyone else.
Good luck
The EnterQuest Team
This information is meant as a starting point only. Whilst all reasonable efforts have been made, the publisher makes no warranties that the information is accurate and up-to-date and will not be responsible for any errors or omissions in the information nor any consequences of any errors or omissions. Professional advice should be sought where appropriate.
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