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Your EnterQuest Bulletin - Issue 232
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| Thought for the week: "Glory is fleeting, but obscurity is forever". Napoleon |
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In this week's issue:
Journalist's baking business rises to the challenge
A business writer has brought a healthy taste of the Mediterranean to North Yorkshire with a bakery business that's on the verge of expansion.
Just two months after setting up Westfields Farm Bakery from her kitchen near Leyburn, North Yorks, Anastasia Weiner is itching to move into purpose-built facilities planned for the farm. At the moment the business, which produces organic breads, cakes and pastries "with a Mediterranean twist", is deliberately remaining small until it has the facilities to sell goods on a larger scale.
Anastasia said: "We've got this base here that we can actually build a bakery. It'll be ready in February-March next year.
"There's a lot of scope for expansion. We've proved the demand's there."
Anastasia stood back and took stock of her life after an illness earlier in the year. She had always loved baking and started again while she was recovering. The products, which contain no preservatives and can be made gluten-free to order, are mainly baked from locally sourced ingredients.
Contributing to a "strong, stable rural economy" is central to Anastasia's philosophy. She also wants the business, which uses 'green' electricity, to be as environmentally friendly as possible.
"It's a sustainable business. We're very aware of our carbon footprint. That'll continue to be a very strong business theme," she said.
Anastasia's background in business journalism meant she already had a solid grounding in the help available to new enterprises. She received some advice from the Yorkshire Food Group but the bakery was opened without any start up capital.
But she believes entrepreneurs should take advantage of any support that's available.
She said: "Find out if there are any organisations out there that can help you.
"Don't let being afraid hold your business back. There's advice out there and it doesn't have to cost the earth."
Hard work, getting feedback from your customers and the local community and ensuring you research your market thoroughly are also among her top tips for success.
"You've got to have the momentum, you can't rest on your laurels."
And what would she do if she was starting over again?
"I'd start with the bakery already built! It's been so popular I could be employing two people by now."
October's red tape changes
1 October 2007 saw the introduction of several pieces of legislation, which bring in major changes that will affect many businesses. Here's a brief summary:
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National Minimum Wage rates will be increased. Workers aged 22 and over are now entitled to £5.52 an hour. The rate for 18-21 year olds is now £4.60 an hour, and the hourly rate for 16-17 year olds is £3.40.
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Workers will be entitled to 24 days' annual leave per year, or equivalent in hours worked (rising to 28 in 2009). See the Department for Business, Enterprise and Regulatory Reform (BERR) website for more information.
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Changes to VAT invoicing requirements will affect businesses using certain schemes. See the HM Revenue & Customs (HMRC) website for more information.
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Retailers selling cigarettes or tobacco products will only be able to sell them to people over the age of 18 and must display signs that clearly show the new minimum age. See the Tobacco age change website for details.
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Trade mark applications will not be automatically blocked in future if there is an earlier trade mark that conflicts. For more information see the Intellectual Property Office (IPO) website.
For more information see our practical factsheets on the National Minimum Wage Act and Common Commencement changes in employment law.
BERR provides useful information for businesses. Visit the BERR website for details of some of the recent changes in legislation.
For further information on tax and VAT matters, see the HMRC website.
Each week we provide you with summaries of some popular or emerging business ideas in the UK and elsewhere around the world.
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Driveway rental agency. This idea capitalises on the demand for parking spaces in areas near busy commuter routes or in already crowded towns and cities.
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Design-your-own bedding. New Jersey-based Inmod has a nifty design studio where customers can select the colour, texture and embroidery patterns of their duvets.
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 the meaning of the word 'punctilious'?
a) always on time
b) paying attention to detail
c) over-use of punctuation marks
d) reckless or thoughtless
Answer at the end of the Bulletin.
The following topical business issues have been recently reported in the media. Did your radar pick them up?
1) A survey by the Federation of Small Businesses (FSB) has revealed that road transport is fundamental to small business owners. What percentage of those surveyed said a vehicle was crucial or very important to their business?
a) 45%
b) 61%
c) 85%
d) 93%
2) Research by Vodafone UK has revealed that UK businesses would take their business elsewhere if a supplier did not respond to their e-mail within two hours. According to the results, what percentage of businesses have received no response to a business enquiry?
a) 25%
b) 65%
c) 85%
d) 95%
3) According to new figures from the British Retail Consortium (BRC), shop workers are experiencing dramatic increases in which of the following?
a) theft
b) violence against staff
c) insurance costs
d) rent and rates
Answers at the end of the Bulletin.
Free online backup accounts
Small enterprises are being offered free 1GB online backup accounts for their business information. PerfectBackup, which is offering the facility, points out that many firms caught out by disasters like this summer's flooding store their backed up data onsite. Therefore, they're just as likely to lose the backed up information as the original data.
Helping to break through banking jargon
The British Bankers' Association (BBA) has put together a revised glossary to explain financial terms in plain English. Terms like subprime mortgages and 'Ninja' loans - a US term for loans to borrowers with 'No Income, No Jobs or Assets' - are included to enlighten readers befuddled by the current crisis in the financial markets.
Red tape rants website
This site is proving a popular one with small business owners. Red Tape Rants provides you with a chance to post anonymous comments about the red tape subjects that get your goat. Visit the website to read current posts and add your own.
Tips for success from the FPB
The Forum for Private Business (FPB) has come up with ten tips for effective business planning to help your business succeed and grow. Tips include setting milestones to achieve smaller goals, rewarding your team and reviewing your work on a regular basis.
Entrepreneurs and business owners need to project a confident image at all times. This book aims to help readers understand confidence and how they can improve their own confidence levels. It's set out in ten steps so readers can follow the book easily and identify where they want their confidence levels to be. Check out:
Just one word answer
The answer is b).
Punctilious means paying attention to detail.
The jewellery shop owner was punctilious when building his window display. |
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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. |
