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.

Companies that operate in the United States have a lot of dates to remember throughout the year. Federal deadlines are important in filing tax information, keeping up on employment notifications and making sure that self-employed individuals pay their estimated taxes each quarter. Missing a federal deadline could mean penalties, fines and possible tax consequences.

January 15, 2016

• All 1040-ES 2015 fourth quarter payments must be submitted

February 1, 2016

• People who chose not to pay their final 1040-ES payments on January 15, 2016 can file their full returns and not sustain a penalty
• Businesses must issue all 1099 forms
• Farm employers must file form 943 for Social Security and Medicare filings
• All employers must file form 940 for 2015 unemployment taxes
• Form 720 for fourth quarter of 2015 must be filed
• Companies must file form 2290 for any vehicles that were first utilized in December 2015

February 16, 2016

• Employees must file income tax exemption forms with employers

February 29, 2016

• Businesses must file information returns for payments made in 2015
• Form 1096 for payment of gambling winnings and copy A of form W-2G must be filed
• All employers must file their W-3 and copy A forms for each W-2 issued in 2015
• Large food and beverage employers must file form 8027 regarding tip income
• Form 730 required for all wagers placed in January
• Form 2290 required for all vehicles first put into service in January

March 15, 2016

• All corporations must file a form 1120 for their annual return
• Partnerships must distribute K-1 forms to all partners

March 31, 2016

• All forms 1097, 1098, 1099, 3921, 3922 and W2-G must be filed electronically
• Employers must file all W-2 forms electronically

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.

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.

Bizwiki, the UK’s popular free business listing website, today announced that they have enhanced their coverage of British businesses with the addition of ‘PowerListings’ supplied by Yext, the global leader in Digital Location Management.

“Since its launch in 2007, Bizwiki has been dedicated to giving the public free access to detailed, useful information about businesses all over the United Kingdom, and we are pleased to be able to announce that this coverage will now be enhanced with additional information provided by Yext,” said director Matt Aird. “As a wiki-style site for companies, Bizwiki is changing the way online business information works by combining user-edited records and crowd-sourced detail with the power of advanced web-spiders and structured data.”

Bizwiki currently lists information for well over one million British businesses, organisations, charities and companies, all of which is made available for public access free of charge. This information includes vital contact details, website links, email addresses, location maps, messages from representatives of the companies themselves, links to associations and more.

“We currently provide information about a very wide range of British businesses, and this partnership with Yext will both increase the number of businesses in our directory and allow us to significantly expand the amount of rich content and level of detail displayed,”  continued Matt Aird. “This includes features like image galleries, embedded videos and special offers provided directly by the business owners or managers.  We believe this will be valuable to our site’s users, and be another step towards our goal of providing useful, high quality and comprehensive information about businesses in every area of the country.”

A 2015 study carried out by the National Institute of Economic and Social Research revealed that the UK is on its way to becoming the second largest economy in Europe, as key indicators including total GDP and purchasing power continue to rise. Moreover, economists at the Centre for Economic and Business Research have predicted that by 2028, the United Kingdom could rank among the world’s top three largest economies, ahead of giants like Germany and Japan. This level of economic growth is partly the result of a long-term development strategy that has been designed by the UK Department for Trade & Investment and implemented by the Regeneration Investment Organisation. Regeneration projects are a fundamental part of the UK’s growth and development strategy, and this article looks at the key projects that are currently underway in Central England.

Medi Park Nottingham

Medi Park Nottingham is an £100-million regeneration scheme that aims to turn the Midlands into a leading hub for advanced medical technologies. The project will focus on the creation of a science park that will expand the infrastructure and capabilities of the University of Nottingham and of Queen’s Medical Centre. Approximately 3.7 hectares of land will be turned into state-of-the-art commercial space, which will include 100,000 square feet of laboratory and business space in addition to 400,000 square feet of retail, hospitality, and leisure facilities. Companies that choose to base themselves at Medi Park will benefit from the area’s Enterprise Zone status, which translates into extensive business incentives and tax breaks. The project’s completion date is set to Q4 2023.

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.

Regeneration Projects: Central England

A 2015 study carried out by the National Institute of Economic and Social Research revealed that the UK is on its way to becoming the second largest economy in Europe, with key indicators including total GDP and purchasing power continue to rise. Moreover, economists at the Centre for Economic and Business Research have predicted that by 2028, the United Kingdom could rank among the world’s top three largest economies, ahead of giants like Germany and Japan. This level of economic growth is partly the result of a long-term development strategy that has been designed by the UK Department for Trade & Investment and implemented by the Regeneration Investment Organisation. Regeneration projects are a fundamental part of the UK’s growth and development strategy, and this article looks at some of the key projects that are currently underway in Central England.

Worcester Growth Corridor

In the near future, Worcester will offer world class investment opportunities thanks to the £300-million regeneration project known as the Worcester Growth Corridor. This initiative aims to redevelop nearly 300 hectares of space along the M5, creating opportunities for investment in commercial, residential, and mixed-use real estate. A total of 8 sites will be redeveloped, the first being the Worcester Technology Park, which will primarily provide first-class business accommodation to companies in the advanced manufacturing, clean technologies, and agri-food sectors.

Overall, it is expected that this project will help create more than 6,800 permanent jobs in the local area. This regeneration project will be carried out in various phases over a period of 15 years, and its estimated delivery date is Q4 2024.

Priors Hall Park, Corby

With a GDV of over £1,200 million, the Priors Hall Park project is one of the most ambitious regeneration projects currently taking place in Central England. The project covers an area of more than 500 hectares in Northamptonshire, and will result in the construction of over 5,000 sustainable homes and of commercial premises, including office and industrial space. This project capitalises on Corby’s strategic location, as the town offers access to 75 per cent of the country’s population with just a 2-hour drive.

Mississippi’s capital and largest city, Jackson is also the largest economic center in the state. Home to major electrical equipment and machinery, processed food, and metal product industries, with numerous major companies based in the city including Ergon, Cal-Maine Foods and Trustmark.

Offering affordable business premises, excellent business services and easy access to financing, Jackson is one of the best places to do business in the United States. The city also provides businesses with excellent transportation links, including one of just two international airports in Mississippi. It is also at the cross-roads of major railway lines and interstate highways, including the I-20 and I-55. According to WalletHub’s 2015 list of best cities in the U.S. to start a business, Jackson ranks fifth out of 150 cities across the country. In the same national ranking, Jackson was fourth in terms of access to resources including office affordability, employee availability and financing accessibility. Mississippi also ranks high for doing business. The state ranked in the top 10 states for doing business, as well as sixth in terms of overall cost of doing business and third for competitive labor costs by the Area Development Magazine in 2014. 

Dallas, Texas is a well-known hub of business activity as the fourth most populous metropolitan area of the United States. This distinction has allowed Dallas to develop a wide range of industries to serve a far-reaching economy that is as healthy as it is diverse. While much of the credit for the growth of Dallas’ economy can be attributed to the businesses themselves, state and local governments also play a role in nurturing an environment of healthy business growth. In the end, Dallas is an excellent example of what can be done when business leaders and government leaders can work together toward a common goal.

Major Industries in Dallas

Some of the most successful companies in the Dallas metro area are in the technology, defense and financial industries. These three industries account for thousands of jobs in Dallas and have become a mainstay of the economic climate in the city.

On the technology front, telecommunications and IT services are very important to the economy of Dallas. The importance of IT services to economies can often be overlooked, but this is generally due to the small nature of most IT service providers. However, a number of international companies, such as Rackspace, have a major presence in the city and provide greatly to the business climate.

The defense industry often has aerospace and aviation lumped into it as these three industries are so acutely intertwined. These industries provide more than 150,000 jobs to the people of Dallas in over 1,300 companies. The large airport capacity, educated workforce and lenient laws regarding the classification on commercial space are often cited as a draw to companies in these industries. As a result of this growth, the average person working in these industries makes a little over $80,000 a year.

Anyone curious about how the financial industry gained so much power in Dallas need only look as far as the Federal Reserve Bank of Dallas. As one of only twelve district banks in the Federal Reserve system, Dallas has become a major player in financial markets throughout the country. This has led to the development of a strong financial sector in Dallas itself, with a growth of 11 percent in financial sector jobs since 2010. While the Federal Reserve itself is not responsible for this industry thriving as it does, it’s noted as a driving force in the identity and economic development of the area.