Small businesses account for over 99 per cent of the UK’s private sector. 2017 presents some attractive small business opportunities to discerning entrepreneurs, here we give you some of the top ten small business ideas for this year.

1. Brexit Consultancy

Regardless of which form Brexit eventually takes, it is clear that the move will affect multiple aspects of the country’s social, legal, and economic life. Businesses of all types and sizes will certainly welcome sound advice about how best to tackle the ramifications of Brexit, so professional Brexit consultancy firms are likely to become one of the most in-demand industry sectors in the coming years.

2. Social Media Consultancy

Entrepreneurs with knowledge of digital marketing, social media, and business can take advantage of the unparalleled growth of these sectors with minimal investment. Social media consultancies can focus on delivering training, providing management services, or both, and can easily be run from home or remotely.

3. Co-Working Spaces

The rise in the number of start-ups, remote workers, and freelancers has translated into a need for suitable working spaces that offer flexibility and first-class business services. Co-working spaces are popping up all over the UK as an alternative to traditional offices and their popularity is only expected to grow, both in London and in other regions.

4. Shared Living Spaces

Shared living spaces offer the convenience and quality standards of a hotel along with a convivial and homely atmosphere. This is an attractive proposition for certain segments of the population (particularly millennials, young professionals, and digital nomads) who may find that accessing the traditional housing market is difficult or not suited to their needs and lifestyle.

5. Meal Subscription Services

Not only British consumers are becoming more aware and knowledgeable about their food choices, but they are also increasingly requiring convenience when it comes to their meals. Meal subscription services are an interesting and versatile niche that can cater to the demands of savvy consumers. For higher chances of success, you could choose to focus on specialty meal delivery (e.g. gluten-free, vegan, Japanese, organic, etc.).

6. Craft Alcoholic Beverages

The UK’s craft beer market has been experiencing important growth for over seven years, and the prospects for independent brewers continue to look good. Breweries, microbreweries, and craft beer subscription clubs are some options worth exploring, but don’t feel you should limit yourself to beer. The production of craft liqueurs and spirits are also a business idea with much potential for success.

7. Sugar-Free Drinks

The UK’s controversial sugar tax will be implemented in 2018, and this presents a wealth of business opportunities for entrepreneurs who are willing to capitalise on alternative and / or sugar-free drinks. Parallel to the introduction of the sugar tax is an increase in the number of health-conscious consumers, and both factors can contribute to the success of businesses that focus on the production of healthy sugar-free beverages.

8. Jive Dancing Lessons

Search engine statistics reveal that over the past two years there has been a surge in the number of people interested in taking jive lessons. This dance style is definitely experiencing a revival thanks to its ability to combine opportunities for socialising with chances to get fit and build confidence in a leisurely way.

9. Big Data Analytics

Businesses today have a wealth of online data at their disposal, but finding ways of making sense of huge volumes of data is not always easy. This is precisely why offering big data analytics solutions and applications to companies involved in finance, insurance, and retail can be a highly profitable business opportunity.

10. InsurTech

Providing technology solutions tailored to insurance companies is another potentially successful business idea for tech-minded entrepreneurs with a passion for innovation and a thorough understanding of how to connect consumers with insurance firms.

If you want to start or invest in a small business in the US today, there are literally millions of business ideas to choose from, so it’s a good idea to narrow your choices to a few profitable small business fields. Here is a list of the ten most profitable small business industries in the US, as of late 2016. Investing in or starting a small business in one of these sectors will hopefully give you a fairly high return on investment.

Specialized design: interior, industrial, graphic

The ability to create an attractive design, whether industrial or interior, can lead to a profitable career. Some specialized education may be required. Graphic and interior designers are in demand by other small businesses to help enhance and strengthen their image.  Industrial designers are sought out to improve the design, if not the function, of products. In today’s visually driven world, specialized design is among the most profitable small businesses.

Net profit margin: 11%

Consulting: technical, business, career

If you are an expert in your field and know how to help others succeed, consider a career as a consultant. Consulting services are always in demand, as every other kind of business needs advice and mentorship from time to time. Find or develop a niche and you have a nice profitable business that requires little overhead.

Net profit margin: 12%

Office administration and virtual assistant

Providing office and administrative assistance to other small companies is a niche small business that requires specialized knowledge, but not much overhead. These services are essential for most business owners. Offering the day to day paperwork management and record keeping, whether on site or at your own location, can be a profitable arrangement for both parties.

Net profit margin: 13% Read more »

The holidays are approaching; is your small business ready for the Christmas season? As a business owner, you have much to consider during the holiday season. For some businesses, December is time to slow down and wrap up the end of the year; for other companies, the month of December puts the business under very high pressure to meet customer expectations and reach sales goals. Whichever type of business yours is, here are some things to keep in mind as you prepare your business for the holiday season.

Start Early

Long before the holiday season begins, you should be thinking of the concrete and specific steps you will need to take to prepare for the holidays. Ask yourself questions such as:

• Will you need to hire more staff for production?
• More staff for packaging and shipping?
• Will you need to downsize your staff?
• Will you need to increase overtime hours?
• Will you be giving gifts to clients? To employees?
• Will you be hosting holiday events for clients or employees?

Some of these answers will indicate that your business needs to begin preparing for Christmas as early as June or July, while other answers will have you planning as late as the week of Christmas. Make lists, itemize, step by step, the things you need to do to prepare. A successful holiday season is often reliant on successful planning. Read more »

A number of factors make a location an ideal place for a start-up, including the local cost of living and taxes. Access to resources like financing and talent are also important variables. Shreveport has been recognized as a city with many of these key elements to making a successful start for a new company. In WalletHub’s 2015 ranking of the best and worst places to start a business in the United States, Shreveport came on top (1). In 2016, Shreveport ranked eighteenth in WalletHub’s list of the best large cities to start a business (2). The same study found that Shreveport has the fifth highest rate of growth for small businesses.

Shreveport is Louisiana’s third largest city. The city is a major commercial center in the Ark-La-Tex region where Louisiana meets with Arkansas and Texas. Interstates 20 and 49 link the city to nearby states, while Shreveport Regional Airport offers direct flights to major economic centers in the South including Atlanta, Dallas and Houston. Founded in 1836, Shreveport is home to nearly 200,000 people (3). A major business hub for the oil industry until the 1980s, the city is now home to a strong service-based economy. Major commercial developments include the Louisiana Boardwalk, a large shopping and entertainment complex in neighboring Bossier City. Downtown is the home of the 350,000 square foot Shreveport Convention Center.

Businesses in Shreveport benefit from several tax incentive programs at the local and state level. Louisiana’s Enterprise Zone Program provides tax credits and sales and use tax refunds for businesses hiring from targeted groups, while the local Caddo-Bossier Foreign Trade Zone allows for the import of materials and components without paying duties until they enter the U.S. market. With the Louisiana Quality Jobs Program, an annual rebate is available for up to ten years for employers that meet minimum hourly wage rates and offer a basic health plan. Motion picture and television production companies also benefit from refunds on sales and use taxes. Read more »

The UK’s 2016-2017 Budget was unveiled on 16 March. On the whole, British businesses welcomed the new measures outlined in this year’s Budget, as it was clear that the key changes were made in an attempt to stimulate the economy from bottom to top and to facilitate job creation while providing solid incentives for entrepreneurial activities nationwide. Approximately £24 billion have allocated to industry, agriculture, and employment, which have become top priorities given the crucial role that they play in driving economic growth in the country. This article provides an overview of how the new measures outlined in this year’s Budget will affect UK businesses.

How to introduce sustainable business practices in your organization

Sustainability involves considering environmental sustainability in all aspects of an organization’s operations. It also involves considering social sustainability and how an organization’s actions might affect the local community and people in general. Also known as environmental and social responsibility, considering sustainability of every business decision and activity may not be possible or feasible for some companies. At the same time, there are several ways to introduce sustainable business practices in your company or organization.

The Benefits of Being Sustainable

One of the main reasons to adopt sustainable business practices is the advantage it can give an organization. In many cases, sustainable practices lead to greater efficiency. This in turn can help reduce operating costs. Sustainable practices also attract and retain employees that want to work for an organization that encourages and embraces sustainable practices. They also attract new clients, customers, investors and other partners looking for environmentally and socially responsible organizations. In turn, being sustainable might encourage your partners, suppliers, clients and customers to also be more environmentally and socially responsible.

Ways to Make Operational Changes

An organization can become more environmentally and socially sustainable or responsible through operational changes. Part of this involves being a ‘good’ employer. This means being committed to your employees and how they feel about working for your organization. A good employer cares about how satisfied employees as well as their development and well-being. This might involve encouraging good work-life balance with, for example, flexible work arrangements and on-site fitness centres and childcare. It also involves promoting equality and fairness where there is no tolerance for workplace discrimination and harassment. Promoting a healthy and safe work environment for employees is a vital part of being a socially sustainable organization as well as a good employer. Read more »

Small and medium-sized businesses are an important component of the UK’s industrial structure. According to the Federation of Small Businesses, their numbers have been growing steadily over the past two decades, reaching a record high of 5.4 million in early 2015. In recent years there has been a shift in the focus of business activity within the UK economy, whereby the country’s default organisational forms in the private sector gravitates towards SME’s.

However, and despite the obvious rise in the percentage of SMEs operating throughout the country, these businesses face major challenges when it comes to staying competitive in the long term. This is why one can never underestimate the importance of having a solid business model that is capable of bringing long-term value to your business.

A bullet-proof business model can help create and maintain value and define how a company will relate to its clients. This article offers some useful considerations regarding the best ways of future-proofing your SME business model.

Make It Innovative

In a recent study, researchers at the IESE Business School and at the University of Pennsylvania found that on the whole, novelty-driven business models yielded better results than efficiency, service, and cost-oriented models, in particular when innovation was specifically applied to business exchanges. Researchers also found that there still is room for improvement in the UK context, as the study referenced above revealed that only 25 per cent of interviewed firms could indeed be defined as innovation-driven. Read more »

Regeneration projects are designed to improve living standards, lifestyle opportunities, transport links and business investment in areas of London. Current regeneration projects scheduled to begin between 2016 and 2018 are expected to boost the London economic outlook by providing jobs, business floorspace and improved public transport.

Six key regeneration projects include:

Old Oak Common: located within the Park Royal Opportunity Area, Old Oak Common is in West London near Vauxhall Nine Elms, White City, Park Royal and Earls Court. With residential housing and business commercial spaces to secure, the site will benefit from a new transport super-hub station combining London Overground stations with HS2 and Cross-rail. Investors will be interested in the sale of the development upon completion and lettings income.

New Covent Garden Market, Nine Elms: 115,000 sq ft of commercial accommodation within this mixed-use development is designed to act as a gateway to the Battersea opportunity area. Property values (predicted to grow by 140 per cent) include commercial property next to the coveted Northern Line extension – vastly improving the speed and efficacy of transport links to central London. The development is due to start in late 2015, early 2016, and complete in 2017. With the nearby New Covent Garden Market trading fresh produce close by, this area is also bound to attract restaurant and hotel investment.

The Silvertown, Royal Docks – London: The Silvertown Partnership commercial building zone will be completed in 2018. Offering over 50 acres of commercial space the area is sure to be popular with businesses seeking purchase near the world-class Excel Centre, the London City Airport and The Royal Dock. The new Crossrail station (and links to HS2) for the Excel Centre will be a 5 minute walk away (when completed), making The Silvertown a choice business spot within the buzzing financial area comprising Canary Wharf and Greenwich. For larger investors, there is still the chance to become a major equity partner in this £1.8 billion pound development.

Alexandra Palace – For smaller investors the iconic Alexandra Palace is in need of regeneration and requires around 50% of the building funding to restore the Palace to commercial glory, once again. For approximately £100 million this Grade II listed property, originally opened in 1873, is to be converted into a four storey hotel. Famous for the south-westerly views which take in almost all of London, the hotel is expected to attract top clientele, providing an excellent, regular turnover. For a chance to own the ‘People’s Palace’ and a slice of history, a small investor might see this regeneration project as a worthwhile investment. Read more »

The Holiday season is often the busiest time of year for a lot of businesses. From shipping deadlines to taxable and non-taxable gift guidelines, there is a lot of  things to bear in mind to ensure that your business is ready for the Holidays.

Christmas 2015: Dates and Deadlines for US Businesses

Official Holiday Dates

In 2015, Christmas Day will be Friday, December 25th. The vast majority of businesses (with the exception of restaurant chains and some convenience stores) will be closed on Christmas Day, and many will operate a reduced schedule on Christmas Eve too. Banks will be closed across the United States, and some financial institutions will also close early on December 24th.

Holiday Shipping Deadlines

Every year, the United States Postal Service publishes its Holiday posting and shipping deadlines. Domestic letters and parcels sent via Standard Post service must be posted by December 15th if they are to arrive on December 24th at the latest. Letters and parcels sent within the United States using First Class mail service must be posted by December 19th. Domestic items sent via Priority Mail should be on their way by December 21st, whereas letters and parcels sent to US addresses using Priority Mail Express can be posted as late as December 23rd.

The following deadlines apply to items sent to military or diplomatic addresses:

• November 7th for items sent via Standard Post
• November 25th for items sent via Space Available Mail
• December 3rd for items sent via Parcel Airlift Mail
• December 10th for items sent via Priority Mail and First Class Mail
• December 17th for items sent via Priority Mail Express – Military service

The deadlines for letters and parcels addressed to international destinations vary from country to country, with last shipping dates ranging between December 1st for First Class International mail to December 21st for items sent via Global Express Guaranteed. For a full list of international destinations and their applicable deadlines, please visit the USPS site at https://www.usps.com/holiday. Read more »

Countless factors influence the success of a new start-up. When starting a business, location can be just as important as the type of service or product being sold. Cities provide different environments to help entrepreneurs and businesses succeed, as well as a range of supports. A state’s business environment including access to skills and business-friendly tax policies also play a major role. The following are just some of the best cities to start a business in the Western United States.

One of the best cities to start a new business is Chattanooga, Tennessee. The city places fourth on WalletHub’s 2015 list of the Best Cities to Start a Business, and ranked second in terms of access to essential resources for start-ups including skills, affordable office space, financing and other business supports. The study used 13 unique metrics that ranged from the average five-year survival rate of businesses and educational attainment of the available labor force to the affordability of office space and access to business financing. Access to high-speed broadband internet, business incubators, educated employees and government incentives helped make Chattanooga one of the best places for start-ups to succeed, according to WalletHub.

Chattanooga is Tennessee’s fourth largest city and is located in the state’s southeast. The city is strategically located close to major economic centers in the U.S South. It is within 120 miles (190 kilometres) of Atlanta and Knoxville, and is also within a day’s drive Nashville and Birmingham, Alabama. Chattanooga also sits close to three major interstates – I-25, I-75 and I-59. The city is the home of the University of Tennessee at Chattanooga and Chattanooga State Community College, and has a diverse economy that includes manufacturing and service industries. Several major companies have a presence in and around Chattanooga, including Amazon.com, DuPont, BASF, Norfolk Southern, Coca-Cola, and Volkswagen. Read more »