RESOURCE CENTRE

Your EnterQuest Bulletin - 13 April 2004

In this week's issue:

• designer eggs
• how to get free publicity
• the meaning of the word 'caveat'
• tips for safe Internet auctions

Hatching new ideas

We've always made a point of providing you with summaries of some of the latest emerging business ideas in our bulletins. Sometimes, during the course of our research, an idea that is intriguing, inspiring, or just plain wacky catches our eye, and we file it away as a potential future trend that could be developed into a business or market opportunity. This week, because it's Easter, we thought we'd bring to your attention the latest 'designer' fad that could be set to sweep the nation.

Designer clothes have always been considered a cut above the rest. Tailor-made to fit, or cut with the finest fabrics, they represent a certain kudos of style and luxury for the discerning, affluent consumer. The potential to market a product as 'designer' has even filtered through to supermarkets. Britain's grocery multiples have all introduced successful premium ranges that are labelled as superior to the standard produce. The latest product to be hit with this style overhaul is the humble egg.

Memorably marketed in the 1970s under the slogan, "Go to work on an egg", you wouldn't have thought there's a lot of makeover potential for this staple, simple foodstuff. But some firms in the US are already tapping into consumers' growing demand - and willingness to pay - for products that are bigger, healthier, tastier - just somehow 'better'. The result is designer and speciality eggs.

Designer eggs are scientifically modified (allegedly in a natural way) to have more vitamins and minerals, lower cholesterol, and less fatty content than a standard egg. The pigment can even be altered to give the yolk a bright yellow colour that's more pleasing to the eye. Speciality eggs are designed to appeal to particular niche groups of consumers, whose moral codes and environmental awareness influence the food they buy. These eggs are generally organic, or come from cage-free or free-range birds, and producers and retailers alike place a heavy emphasis on their ethical value.

Many of our trends and fads here in the UK filter through from the US, and it can only be a matter of time before this one takes off here too. In the meantime, consumers' fascination with products that are marketed as better than the rest - dare we say, 'egg-ceptional' - is something that all those involved with producing or selling to consumers should be aware of.

Click here for more information on designer and speciality eggs.

Weekly business tip

Ten tips to get free publicity for a small business.

The two main ways to get your business name in a local newspaper are to pay for it by placing an advertisement, or to get a news release, otherwise known as a press release, published by the paper. For a small business or a new business, the second way is by far the most attractive.

Knowing how the press chooses one news release over another will give you an advantage when trying to get the coverage you are looking for. When the news editor gets your release it is competing against all the others that have also come in that day.

The editor will be looking for what is genuinely newsworthy and what isn't. If your news release doesn't catch their eye, it is immediately binned. It's as simple as that.

Here are ten tips to help ensure your news release doesn't end up in the editor's bin.

1. Make sure you use a catchy, attention-grabbing headline that reflects what your news release is about.
2. Follow this up with a first paragraph that tells the reader what your news is, who it's about, where it will be, why it's important and when it will happen. Get to the point of the news fast, without any fluff.
3. Give your editor news that is appropriate for his or her publication. Generally, local papers are looking for stories that are educational, interesting and informative, but will also consider stories that are informal, controversial, weird or funny.
4. Rather than just promoting your product or service, use an 'angle of interest', such as a human angle, as news editors are far more interested in stories that involve people rather than products.
5. Don't provide any information that is incorrect or incomplete, such as telephone numbers, website addresses or launch dates. Make sure all details are accurate, complete and specific.
6. Keep it brief: don't let it be any longer than two pages.
7. Don't use flowery or hyped-up terms, such as 'incredible', 'sensational' or 'spectacular', or your release will be viewed as too commercial.
8. Always include a contact name and telephone number so the journalist can ring you for more information.
9. Don't call an editor after you have sent them the release, as you will just be regarded as a pest. News editors are very busy people who get hundreds of releases and calls from people like you every day.
10. Make sure before you send your release that the editor you are sending it to still works there, and is the right person to send it to. For example, you want your release to land on the desk of the business editor rather than the sports editor.

Follow these steps and you will increase your chances of success. But be persistent. Keep writing new stories and finding new angles about your business, yourself and your activities. Eventually you'll get the free publicity you are seeking.

Discover how to promote your business on a shoestring Are you struggling to attract new customers to your small business? Do you have a great product or service but aren't sure how to let prospects know about you? You can attract more new customers, sell more to existing customers, and bring back your customers more often - no matter what product or service you sell. Click here to find out how The UK Small Business Marketing Bible can help you double your sales

New business idea

Each week we provide you with summaries of some popular or emerging business ideas in the UK.

Here is this week's idea:

• Jazz Café

Just one word

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.

Many Latin words and phrases have infiltrated 21st-century English, and a lot of them are used in business communication. Do you know what the word 'caveat' means?

a) hidden
b) a warning or proviso
c) a division
d) an agreement

Answer at the end of Bulletin.

Did you know?

Liability insurance may be scrapped for smallest companies

The Government is carrying out a consultation on whether it should scrap compulsory employers' liability insurance for the UK's smallest incorporated businesses. The proposal could affect up to 300,000 limited companies across the country where the owner is the sole employee.

Find out more here.

Retailers might be liable for chip and PIN fraud

Retailers who choose not to adopt the chip and PIN payment systems, due to be introduced next year to combat credit card fraud, could lose money if the new cards are used fraudulently. The Association of Chartered Certified Accountants (ACCA) warns that if the cards are used at non-chip and PIN enabled terminals the retailer will be liable for the financial loss. Instead of signing receipts for card payments, customers using the new system will type in a four-digit PIN number, stored in a microchip embedded in their card, on a pad at a store's till.

Click here for more details.

Challenge to 'husband and wife tax'

There could be implications for many small businesses from a forthcoming test case on what is known as the 'husband and wife tax'. Under Section 660A of the Income and Corporation Taxes Act 1988 the Inland Revenue says that dividend income received by a non-fee-earning spouse should be taxed as the main fee earner's income. Husband and wife owners of a Sussex-based IT consultancy are taking a case before the Special Commissioners of Income Tax on 14 June, so watch this space.

Worth a visit

Tips for safe Internet auctions

Businesses offering goods for sale via Internet auctions and similar websites can check out new web pages launched by the Office of Fair Trading (OFT), which offer guidance to consumers and traders. The OFT advice covers such things as: tips for safe trading as a buyer; checks to make before bidding; knowing your rights; and avoiding fraud.

Applications for Queen's Awards

The Queen's Awards for Enterprise are over for 2004, but requests for application forms for the 2005 entries are already being accepted. The awards, billed as the UK's most prestigious awards for business performance, reward winners with a range of benefits including worldwide recognition and extensive press coverage. The 2004 winners will be publicly announced on 21 April.

Worth a read

We've given you some tips this week on how to get free publicity for your business by writing news releases. A crucial aspect of a successful press release is good grammar and spelling, as nothing winds up busy editors more than bad English. This book gives readers from all backgrounds an overview of the basics of correct punctuation, and clears up a few common errors. Check out:

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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.