How To Change SIC Code On Companies House
The industry in which your company conducts business activities changes your tax liabilities, potential for funding and grants, and the types of investors/stakeholders you attract. The official way of identifying this industry is through your standard industrial classification (SIC) code. Having the wrong SIC code can not only filter you out of official searches, but […]
What Is An Off-The-Shelf Company?
Alternatively called a ready-made company, an off-the-shelf company is a pre-made company formed and registered with Companies House but has never traded. It is much like a new car, ready to be sold and instantly used. But it’s not quite as simple as handing over a deed upon bank transfer, as a company comes with […]
What Is A Certificate Of Good Standing & How Do I Get One?
Converting a business to a company comes with a host of advantages, and many of those advantages come in the form of stability, regulatory compliance and trust. A certificate of good standing is an official document that acts as a full-blown mark of approval in these areas. But what is a certificate of good standing, […]
How To Find A VAT Number By Company Name
Value-added tax (VAT) is a 20% consumption tax levied against each stage of the supply chain, generating government revenue to fund public services, such as healthcare, education and infrastructure. Businesses need not charge VAT until they reach an income threshold of £90,000 (although they can voluntarily apply). At this point, they must become registered for […]
What Is Influencer Marketing & How Could It Benefit Your Business?
Influence marketers revolve around, usually, a single person with a following across one or more social media platforms who is promoting a product or service to their followers. Unlike traditional celebrities, influencer marketing efforts prove profitable due to the target audience, who are always highly engaged with the influencer in question. But how much could […]
What Are Unsociable Hours And Do Employers Have To Pay More For Them In The UK?
‘Unsocial’ or ‘unsociable’ hours in the UK are usually those that occur outside of the standard 9am to 5pm workplace schedule. It’s important to note, however, that unsocial working hours aren’t actually legally defined in the UK, meaning that many companies and businesses will differ in their approach to unsocial hours. This means that unsocial […]
What Is A Control Account?
A control account is used in bookkeeping and accounting to efficiently consolidate balances for summary and reporting purposes. They are a core accounting tool that aids ledger integrity and financial statement accuracy. The idea is to use a control account to ensure that financial statements are accurate by providing an efficient and accurate way to […]
The Types of Fraud in Business
Fraudulent parties exist on both the customer and business side of the economy and their targets differ depending on their type. Training yourself, and your team, in fraud detection is not only the best way to avoid financial and reputational loss but also legal consequences. For example, some acts, such as the Data Protection Act, […]
SWOT Analysis – The Advantages & Disadvantages
A SWOT analysis is a popular tool to effectively evaluate the strengths, weaknesses, opportunities and threats to a company. It effectively becomes the foundation on which you can make informed decisions that can grow and develop your company. Despite its popularity, though, there are some blind spots and disadvantages to this fantastic tool. But what […]
Nature of Business Meaning – Examples & Types
Business success and a positive trajectory depend on many external factors. These include market dynamics, level of competition strength and internal strengths and weaknesses. All choices made by a business, big and small, will impact the type of company it will become and what it looks like. This leads us on to the nature of […]
How Much Does It Cost To Set Up A UK Limited Company?
Starting a new business and curious about how much it will cost you to set up a limited company? The cost of setting up a limited company depends on which route you take to set one up and how complex your business is. Generally speaking, you can choose to do it yourself, or go via […]
Sales Training For Your Business – Why It’s Vital
Methods of business growth differ depending on the industry, but for many, the most efficient way forward is to seek out informed clients with high intent. The best way to do this is through sales, which can involve attending exhibitions or seeking out leads with high intent. But how do you find success in the […]
