RESOURCE CENTRE

Your EnterQuest Bulletin - 20 July 2005

In this week's issue:

• how interested in business are you?
  
• networking hints for small businesses
  
• export excellence - tips for sending goods abroad
  
• done in a flash - portable memory and what it can be used for
  
• the Department of Trade and Industry website reviewed
  

Small business answers

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 to the EnterQuest information team and we'll do our best to help.

Send your question to enterquest@cobwebinfo.com.

To access over 800 factsheets, guides and small business reports, go to www.scavenger.net.

Weekly stir

How interested in business are you?

For the benefit of all new or recent subscribers to this little rag of ours, and for the turkeys who haven't been paying attention to anything we've been saying in previous bulletins, we'd like to reiterate a point we've made many times before.

The point is that it is widely acknowledged, documented, recognised and accepted that far too many people start up a business without any knowledge or experience of business at all. In fact, some people aren't even interested in business in the first place. They just like the idea of starting one up.

So does this mean that people who know diddly squat about business shouldn't even contemplate starting up?

Well no, not necessarily, because plenty of people do start from this position but make sure they learn enough before they begin, and then go on to run a successful little venture.

But the problem with knowing very little is that there is a heck of a lot to learn, especially about things like:

• business finance, cash flow, sales forecasting, balance sheets and similar stuff that most of us are cr*p at doing
  
• small business marketing and selling techniques that we have to do every day to keep the cash coming in
  
• tax, VAT, regulations, insurance, copyright, credit control and all those other sh*tty admin things that do your head in, or do your business in if you neglect them

However, all of this will come to you in time with plenty of training, reading, coaching, networking, professional advice and then the actual experience of doing it for real. You can also find plenty of guidance and information on our small business research website at www.scavenger.net.

But it may also be worth making the point, even though it might just be our humble selves that think it, that it will make a difference to your chances of success if you're genuinely interested in business and have some all-round interest in the business world in general. You might be completely surprised at what you'll pick up!

So we thought we'd give you a little test this week to see just how much general business nous and interest you've got. This might indicate whether you're going to be a small business dynamo or a duck egg.

Here goes. Eight questions - score less than five and maybe you'd better tell the bank manager you're not so sure about that big overdraft. Answers are at the end of this bulletin.

1) Which official body is responsible for regulating privacy and use of data that a business holds about its customers?

a) Department of Trade and Industry
b) Advertising Standards Authority
c) Office of the Information Commissioner
d) Trading Standards Office

2) Which world-famous company is commonly referred to as "big blue"?

a) IBM
b) British Airways
c) BMW
d) Sky TV

3) Which company uses the advertising slogan "Always on guard, always up to date"?

a) Microsoft
b) Kleenex
c) Axa Insurance
d) McAfee Antivirus

4) Which well-known Internet company was started by Larry Page and Sergey Brin in 1998?

a) Amazon
b) Google
c) Yahoo
d) eBay

5) What is the next deadline for you to submit your self-assessment tax return, if you want HM Revenue & Customs to calculate your tax for you?

a) 30th September 2005
b) 31st October 2005
c) 31st November 2005
d) 31st January 2006

6) According to the magazine Business Week's rankings, which was the most valuable global brand in 2004?

a) McDonalds
b) Disney
c) Coca-Cola
d) Nokia

7) Which management guru is famously quoted as saying "Business has only two functions - marketing and innovation"?

a) Peter Drucker
b) Tom Peters
c) Richard Branson
d) John Harvey-Jones

8) Which company owns the most property in the world?

a) Starbucks
b) Wal-Mart
c) McDonalds
d) HSBC

Easy, eh? See you down the job centre.

Marketing tip

Networking hints for small businesses

A recent study by American Express revealed that the majority of business owners in the US went to mentors, trade associations or social networks for business advice, rather than to professional business advisers or accountants. Our own research last year painted exactly the same picture in the UK.

Networking and mixing with other business owners is an important habit for every business owner to adopt. It can be daunting for a beginner - networking often appears to be the exclusive preserve of grey-suited business executives, but this is not the case at all.

"Some of the best networkers are shy people, they just follow a few rules." This is the advice of Hilton Catt, author of a practical and readable book on the subject, 30 Minutes to Improve your Networking Skills, which eagle-eyed readers will recall we reviewed in EnterQuest last week.

Here are five tips for networking effectively, along with some practical links and resources where you can find out more.

1) To get started building up network in your area, try your local Chamber of Commerce to find local business events and networking opportunities. The Entrepreneur's Organisation (EO) is another good starting point, and UK Business Clubs is a useful site which lists over 850 business clubs in the UK. Your trade association will also know of networks specifically for your sector.

2) Be confident. Attending your first networking event can be hair-raising, but just think how many people you will know by the time the next one comes round. The trick is to be relaxed and friendly without being pushy.

3) Be positive, polite and professional. Remember these three Ps in order to project a professional image at all times. This means avoiding gossip, returning phone calls, being punctual for appointments and keeping in regular touch with your network.

4) Be available. It's amazing how many networks break down because one person changes their phone number and never gets round to printing new business cards or letting their contacts know. If your number, e-mail address or business address change, send a round-robin e-mail immediately, and don't forget to bring a stash of updated cards when you attend your next networking event.

5) It might also be worth considering online networks. These enable you to locate relevant contacts and services in your field by posting your business card or contact details online. Try LinkedIn and Plaxo as starting points.

Read more about networking for small businesses in the UK Small Business Marketing Bible, where you can also find hundreds of ideas, tips and techniques for increasing sales.

Legal tip

Export excellence - tips for sending goods abroad

Last week we looked at the maze of rules surrounding importing small packages into the UK. Exporting is a lot more simple since most of the legal responsibilities connected with customs fall to the buyer rather than the seller, particularly as regards paying local duty and VAT.

This week's legal tip is a checklist of things to keep in mind when exporting, which should be particularly useful if you're involved in e-commerce or mail order and attract overseas customers.

• You can send letters and documents anywhere in the world without completing a customs declaration. You can also send packages and parcels to other member states of the European Union (EU - you'll find a list of these states at Wikipedia) without any extra documentation being necessary.
  
• If you're sending packages outside the EU, or to the Channel Islands, you'll need to complete a form called CN22 for goods up to £270 in value, or form CN23 and a plastic envelope called SP126 for goods worth more than £270. These forms should be attached to the outside of the package; you can download a PDF copy of CN22 and CN23 from Royal Mail.
  
• If you're sending printed matter outside the EU such as magazines or books (known as "Printed Papers"), a declaration isn't obligatory but the Post Office recommends it all the same. Bear in mind there are also special postage rates for printed papers.
• It's worth watching out for the increasing number of scams carried out at the expense of small traders eager to sell abroad. These are particularly frequent on Internet auction sites such as eBay, since auctions are private sales and aren't covered by much of the trading law that applies elsewhere.

One of the most common scams exporters suffer from is when payment is received by cheque and the goods are dispatched, but even though the cheque clears at first it bounces later because of lack of funds. A US Government website has a lengthy (and slightly alarming) guide to different types of scams and frauds.

For more on importing and exporting, check out the UK Red Tape BUSTER, which has hundreds of scenarios, frequently asked questions and checklists for every small business legal situation.

IT tip

Done in a flash - portable memory and what it can be used for

For those of you who still use floppy disks to carry your computer files around, the idea of flash memory won't be unfamiliar. Flash memory comes in two forms - flash cards which can be inserted into the memory slot at the back of your PC or laptop, and flash sticks, which are usually shaped like rather bulky marker pens and are inserted into the USB socket.

These gadgets typically have 64 or 128MB of memory (the equivalent of around 90 old-fashioned floppy disks) but, as usual, the amount of memory space is increasing fast and 2 gigabytes isn't uncommon. Prices are also dropping fast, and you can easily buy flash memory for under £20.

But what do people use it for?

• One of the obvious advantages of flash memory is that it provides a great deal of portable memory space - enough for very large files that are too large for floppy disks. People who often leave the office or workshop to see clients, carry information between branches, or simply take work home, find it useful because you can slip it into your pocket. It's pretty easy to use on different computers, too, although some older PCs may not be in the right format to accept cards or sticks.
  
  
• It's a good way of backing up your computer and protecting your files from theft, fire or any other mishap which could ruin your business. By the same token, it also presents security risks: if you handle confidential information, for example, you should be aware of how easy it's becoming for people to copy it using flash memory unless your computer is secure.
  

Choosing from the huge range available is less simple, however. The reviews on Amazon will be helpful, and if you're in any doubt about whether you can use flash memory with your computer, see this guide to formats. And while you're at it, why not check out what might be the last word in "function meets form" - the Swiss Army Flash.

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:

• Handbag Maker

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.

Do you know what 'ersatz' means?

a) previous or former
b) an inferior substitute or imitation
c) stylish or trend-setting
d) inconsistent or uncertain

Answer at the end of the Bulletin.

Website review

The Department of Trade and Industry (DTI - www.dti.gov.uk)

It's the site where new developments to employment and trading law are chronicled, along with key information about business grants and funding. But is it accessible and easy to use?

• Navigation - there's an awful lot going on on the homepage, and it's very difficult to work out where you need to click to get where you want to be. The blurb describing the "business" section of the site blandly states that "the DTI aims to promote enterprise, innovation and increased productivity", which is very commendable, but not especially practical if you're trying to find info about a grant or specific bit of trading law.
  
  
  

• Accessibility - you can get the site in text-only format, which makes it easier for speech readers to follow, but there are no access keys, links to help with PDFs or foreign language options.
  
  
  
  
• Content - the employment relations part of the site is pretty comprehensive, with detailed guidance to employment law and plenty of factsheets to help businesses understand how to comply. The section on consumer policy is less impressive - there's plenty of scope for lots of interesting, practical content both here and elsewhere on the site, but it doesn't fulfil this.
  
  
  
  
• Relevance - legal info is faultlessly up to date, but the site doesn't bother with its own news section, linking instead to the Government's News Network. Generally, it's all a bit half-hearted and meaningless.
  
  

A disappointing score of 9 for the DTI - and that's only for the decent coverage of employment law and accessibility efforts. For a department responsible for so much of UK trade and key business information, it's hard to see why this site can't be much more engaging, comprehensive and practical.

Our rating - 9/20

Did you know?

Google can convert currency

Here's a quick and easy way to use Google to convert currency instantly. Type the amount you wish to convert, followed by its currency code, then type "in" and the currency code you want to convert to. For example, you'd type:

10 USD in GBP

to find out what 10 American dollars is in pounds sterling.

Worth a visit

Cheap and reliable backups

BackupMyStuff (BUMS) is quick and easy to download and install, taking the hassle out of backing up your data. For around £6 per month you can make sure that all your important data can be fully recovered in event of a disaster. And we're not the only people who think it's a great tool - BUMS was awarded PC Pro's 'Recommended Award' last year.

Articles and e-zines

Every e-zine and article site you can imagine is listed at Jogena's Directory. If you want to publish your own articles online as part of a marketing drive to boost traffic to your site, it's a great starting point for finding suitable sites; and even if you're simply researching a particular topic, you can browse the comprehensive categories to locate what you need.

Worth a read

Published a fortnight ago, this highly amusing book pokes fun at other, less practical business help books, as well as highlighting the ridiculousness of the corporate culture of some large organisations. Written from a fly-on-the-wall perspective via a stream of e-mails, it chronicles the fortunes, scandals and daily grind of a spoof organisation, covering everything from unceremonious sackings to inane corporate jargon. A great light read for the summer. Check out:

Answers to the Weekly Stir quiz

1) c) Office of the Information Commissioner
2) a) IBM
3) d) McAfee Antivirus
4) b) Google
5) a) 30th Semptember 2005
6) c) Coca-Cola
7) a) Peter Drucker
8) c) McDonalds

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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.