Scottish franchisee to launch Domino’s in Germany Plans to open three outlets before end of the year Written by Aimee Bradshaw Published on 26 March 2012 A serial Scottish franchisee has announced plans to launch Germany’s first-ever Domino’s Pizza outlet.Sean Geddes, who runs a chain of 11 Domino’s restaurants north of the border, will open a total of three outlets across the central European country before the end of the year, creating around 70 jobs in the process.The inaugural franchise will open at Aachen, a university town on Germany’s western border, in May. Plans are in place to open the second branch in Cologne over the summer, although the timing and location of the third outlet have yet to be decided.Explaining his choice of location, Geddes told The Scotsman:“Germany is a virgin market so we’ve selected Aachen because it’s near Belgium and the Netherlands, where the Domino’s brand is already familiar.“Aachen is a university town with about 45,000 students, and young people tend to be the first to adopt new brands.”Geddes has recruited Gordon Penman, manager of Domino’s’ Edinburgh branch, to head up the German operation, and says he has injected around £1m into researching the fledgling market.The seasoned entrepreneur has been operating Domino’s franchises since 2001, and also runs Britain’s only mobile Domino’s division, selling pizza at music festivals. He was awarded the European master franchise in 2010, in recognition of his success and loyalty to the brand. Share this post facebook twitter linkedin Written by: Aimee Bradshaw Senior Writer Aimee is Startups' resident expert in business tech, products, and services. She loves a great story and enjoys chatting to the startups and small business community. Starting her own egg delivery business from the age of 12, she has a healthy respect for self-starters and local services.
Budget 2012: Pilot for enterprise loans to boost youth entrepreneurship Branson proposal given tentative seal of approval, subject to trial run Written by Aimee Bradshaw Published on 26 March 2012 The chancellor today used his Budget speech to confirm the government is “exploring the idea” of offering enterprise loans for young people looking to start a business, on similar terms to student loans.Osborne said: “Young people get a loan to go to university or college. Now we want to help them get a loan to start their own business.”The idea is based on a recommendation made by Sir Richard Branson in January this year and trumpeted by the Virgin tycoon again earlier this week. It has since been championed by a number of entrepreneurs and business organisations, including the Institute of Directors, Enternships and NACUE.The official Budget document said: “Later this year, [the government will] pilot the best way to introduce a programme of enterprise loans to help young people set up and grow their own businesses, building on the support already available including the National Enterprise Allowance.”Commenting on the news, Sir Richard Branson said: “This has the potential to transform the prospects of thousands of young people. The entrepreneurs of today will be the job creators of tomorrow so I’m delighted that the government has listened to those at the very start of their careers.“The country is full of gifted and enterprising people so this pilot, which crucially has business mentoring and support at its heart, will help prevent a lost generation of talent.”Melody Hossaini, star of The Apprentice and founder of InspirEngage International, added: “I am very supportive of the government’s announcement on Enterprise Loans.“I’ve said in the past that, if young people can borrow to go to university, then they should be able to borrow to start a business. The important thing now will be to design an effective implementation framework, to benefit those who need support, in a sustainable way.” Share this post facebook twitter linkedin Written by: Aimee Bradshaw Senior Writer Aimee is Startups' resident expert in business tech, products, and services. She loves a great story and enjoys chatting to the startups and small business community. Starting her own egg delivery business from the age of 12, she has a healthy respect for self-starters and local services.
How to register for VAT: complete guide A step-by-step guide to the VAT registration process, from creating an account with HMRC online to reclaiming on your previously purchased goods and services. Written by Aimee Bradshaw Published on 26 March 2012 Even through using the best accounting software, the process of registering for VAT for the first time can have a few potentially confusing points – and timescales which may concern you if you feel your registration is overdue. That’s why it’s worth understanding the steps involved so you can proceed with confidence.Registering for VAT (or value added tax) is essential if your business’ taxable turnover exceeds the 2022 taxable turnover – which currently stands at £85,000.You can register for VAT voluntarily, if you predominantly work with businesses who are already registered. Why do this? Because, any VAT they are charged can be recovered.If you think you will need to get registered for VAT soon – or if you are just curious about the process for the future – then this article will help you gain the confidence you need to get started, avoid the common pitfalls and mistakes that may cause disruptions in your business, and cover everything you need to know to successfully register for VAT.VAT registration – how to get startedStick with us in our guide and we’ll talk you through all the stages, including: Cost of VAT registration What documents do you need to become VAT registered? Sending a paper form Registering for VAT online Registering for VAT Online Services Can you reclaim VAT on purchases made before registering? Registering for VAT - FAQs Cost of VAT registrationThere is no VAT registration cost – the whole process of registering for VAT on the HMRC website is free.However, when it comes to filing your VAT return, there are optional ways of doing it that can add to your costs.If you wish to contract an accountant to complete your return you’ll be paying for their professional services, or if you want to file your own VAT return, it’s helpful to use some quality accounting software. These methods will ensure you are compliant with the Making Tax Digital (MTD) legislation, released in April 2022, which compels UK businesses to keep digital records of their VAT accounting.The good news is you don’t have to spend much for high quality accounting software.See our guide to the best small business accounting software for more – we’ve found great accounting tools starting from only £8 per month, plus free options. What documents and records you’ll need to become VAT registeredBefore you begin, you will need the following information to hand in order to register for VAT:National Insurance (NI) number or ‘tax identifier’ – a unique taxpayer’s referenceCertificate of incorporation/incorporation detailsDetails of all associated businesses within the last two yearsBusiness bank account detailsDetails of the business that has been transferred (acquired), if appropriateThere are currently two ways to register for VAT: online or via a paper form. However, the process will require you to finish registration online, even if you begin with a paper form – we’ll explain why, below. Can you register for VAT with a paper form?There are several instances where you may register using form VAT1 which is available for download from HMRC’s website. These include:If you need to apply for a ‘registration exception’You’re registering several divisions or business units under different VAT numbersYou’re joining the Agricultural Flat Rate SchemeHowever, even if you begin this process with a paper form, you’ll have to head online to complete it.All newly VAT-registered businesses are required to submit their VAT returns and any VAT payments electronically – HMRC is paperless in this regard. This has been the case since April 1 2012, when it was extended to virtually all VAT-registered businesses, not just newly registered ones. Registering for VAT onlineAll UK business owners can register for VAT online at HMRC’s website, (unless you have unusual circumstances, for example if you trade internationally).If you are in a partnership, your nominated partner can use HMRC’s online system to register – or a business group, as long as you are using one VAT number.In order to gain access to the VAT online services, you must first have registered for an HMRC Online Services / Government Gateway account.Registering with HMRC Online Services or Government GatewayHMRC online services is where you can register for VAT as well as a number of other services. It is also known as the Government Gateway, and you can use either to login to the same services respectively.To register, you’ll need to navigate to the HMRC Online Services page and click the green button to begin.You’ll get a 12-digit activation code within 10 days of enrolling for your new online account (or up to 21 days if you live abroad).Next steps for beginning your VAT registrationOnce you’ve received your activation code, you’ll be able to log in with it into your own private VAT dashboard and view your VAT’s status, manage your account, track your records, see your upcoming important deadlines and dates, as well as apply for and view your VAT certificate online once you receive it, which we’ll be talking about in more detail below.Applying for your VAT Certificate Of RegistrationA VAT certificate (also known as VAT4) is an incredibly important document that HMRC provides to confirm that your business is officially registered for VAT. The certificate includes a number of important information including your unique VAT number and your date of registration.Once you have registered for VAT, whether that’s online or using the paper form, you can expect to receive your VAT registration certificate within one month of submitting your application. However, the vast majority of businesses don’t have to wait that long, with 70% of applications getting their certificate within just 10 working days. Next Steps for Registering for VAT Online ServicesOnce your VAT certificate has come through, you can take the next steps in registering with HMRC online. To do this, you’ll need the following three pieces of information about your business:Your VAT registration numberThe postcode of your principal place of business (if you’re an overseas business, you can use postcode AB10 1ZP – which is valid for persons with no place of business in the UK.)Your effective date of registration for VATYou will be able to find these three pieces of information on your VAT certificate.You’ll also be prompted to add the final month of the last VAT return you submitted, and your “Box 5” figure (which would be your VAT due minus any instalments you’ve already made for the period). But, the answers to both of these would be “N/A” or 0.00 if the business has just been newly VAT-registered.VAT Registration ConfirmationAlthough there is no official email confirmation sent from HMRC, if you are using accounting software you should be notified of completion. Then, once you have your certificate and can access your account to be able to send your VAT returns annually – you will know that you’ve successfully completed the process.The only thing you will have to remember to do after this point is to send in your VAT returns annually. (Be sure to check your VAT return submission and payment deadlines in your HMRC online account.) Can you reclaim VAT on purchases made before registering?Once the business is VAT-registered, you may be able to recover some previous VAT you’ve incurred. But the time limits and conditions differ depending on whether you’re dealing with goods or services:GoodsYou can reclaim VAT on goods you bought or imported up to four years before you were registered if all of the following apply to the goods:They were bought by you as the entity that is now registered for VATThey are for your VAT taxable business purposesThey are still held by you or they have been used to make other goods you still holdHMRC recommends that you record the transactions like any other present-day transaction, and if they are goods, the department suggests that you also keep details of stock-take, usage and expiration.ServicesYou can reclaim VAT on services you bought during the six months before you registered for VAT if both of the following are true:The services were bought by you as the entity that is now registered for VATThe services were for your VAT taxable business purposesBoth goods or services are expected to have VAT invoices, and the VAT element recovered will be based on the amount shown on the invoices – not on the current rates of VAT. Not sure if you need to register for VAT? Check out part one of this guide for more details on the VAT threshold and When do you need to register for VAT? Registering for VAT – FAQs Frequently Asked Questions Does it cost to become VAT registered? There is no cost – registering for VAT on the HMRC website is free. At what point does a company pay VAT? You have to pay VAT if your business' taxable turnover (not profits) exceeds £85,000. Does a small business need to be VAT registered? Small businesses only need to register if their annual turnover rises above the VAT threshold, but you can register voluntarily at any time. Do you need to register for VAT as a sole trader? Similar to small and other sized businesses, you will only need to register if your business turnover exceeds the annual VAT threshold. Startups.co.uk is reader supported – we may earn a commission from our recommendations, at no extra cost to you and without impacting our editorial impartiality. Share this post facebook twitter linkedin Tags Essential Guides Written by: Aimee Bradshaw Senior Writer Aimee is Startups' resident expert in business tech, products, and services. She loves a great story and enjoys chatting to the startups and small business community. Starting her own egg delivery business from the age of 12, she has a healthy respect for self-starters and local services.
What is the VAT threshold and when do you need to register for VAT? A small business guide to value added tax (VAT), including the new threshold, rates, when you may need to register and how. Written by Aimee Bradshaw Published on 26 March 2012 Startups.co.uk is reader supported – we may earn a commission from our recommendations, at no extra cost to you and without impacting our editorial impartiality. The VAT registration threshold since 1st April 2024 is £90,000. This has replaced the previous threshold of £85,000, which had been fixed in place since 2017. Understanding the VAT threshold is a crucial part of getting your small business accounting software in order. VAT is a tax charged by VAT-registered businesses on most goods and services in the UK (and some services that are imported from other EU countries.)A common question business owners ask themselves is do I need to register for VAT? And the answer depends mostly on turnover.If your taxable turnover has exceeded £90,000 (the new threshold in place since 1st April 2024) you’ll need to become a VAT-registered business. This means you must charge customers VAT on top of the sales price of your goods or services, and submit regular VAT returns to HM Revenue & Customs.You can also become a VAT-registered business voluntarily to obtain some of the benefits. For instance, if a VAT-registered business is charged VAT when it buys goods or services, it can generally reclaim the VAT it has incurred.But the real question here is — when should you do all of this? Don’t worry, we’ll cover all you need to know below.Don’t miss a detail when doing your VAT returns – especially since the ruling of the new ‘Making Tax Digital‘ laws, you’ll need to choose accounting software you can rely on. We’ve reviewed a few of the best below: In this guide What is the VAT threshold for compulsory VAT registration? Voluntary VAT registration Who cannot register for VAT? Different VAT rates explained Choosing a VAT scheme What is the VAT threshold for compulsory VAT registration?The current VAT registration threshold is £90,000. This changed on 1st April 2024, meaning the threshold is now £5,000 more than the previous £85,000.A business must register for VAT if its taxable turnover is more than the VAT threshold for any consecutive 12-month period.Another common reason why a business may be forced to register for VAT is if it takes over an existing business that is VAT-registered. If the taxable turnover of the purchaser for the last 12 months added to the turnover of the business being purchased is over the VAT registration threshold then the purchasing business must register.You could also be obligated to register for VAT if you think your business’ turnover will exceed the threshold within just 30 days. For most businesses, though, this wouldn’t apply. Outside of this, there are a few other scenarios when VAT registration becomes necessary. For instance, if you’re trading outside of the UK.If you don’t register on time, you might have to pay a late registration penalty and/or ‘failure to notify’ penalty. What’s more, surcharges and interest are likely to be charged for late payment if the business has a VAT liability. If your business’s turnover exceeds the VAT threshold temporarily, you can ask HMRC for an exception from registration. Voluntary VAT registrationIf the taxable turnover of your business does not exceed the current VAT registration threshold, you can still register for VAT voluntarily.There are two main reasons why a business might opt to register for VAT:Customers are predominately other VAT-registered businesses and therefore any VAT they are charged can be recovered, so it makes no difference to their customers whether they are VAT registered or notThey are often in a refund position with HMRC, so the business is actually better off being VAT registered. Who cannot register for VAT?An entity cannot register for VAT if it does not meet the definition of a business as stated by HMRC for VAT purposes.A business is also prohibited from registering if it tends to sell only goods or services that are exempt from VAT.Always consider the customer when registering for VAT…Let’s explain the first point in more detail, using a retailer as an example:If a retailer’s customers are generally other VAT-registered businesses, they will not mind whether they are charged VAT, because they can obtain a refund from HMRC.So the business is probably better off registering for VAT because it can recover the VAT on its purchases. And this tactic isn’t at all risky or dishonest – it’s estimated that around 20% of all VAT-registered businesses trade below the VAT registration threshold.However, if a retailer’s customers are the general public (who are not VAT-registered), then they cannot recover the VAT. Therefore, the VAT is an additional cost to the public and inflates the retail price, so think carefully about whether you have to charge VAT. If the retailer’s rivals are not VAT-registered, its prices won’t be as competitive. The different VAT ratesTo illustrate point two, let’s look at the different categories items fall into for VAT purposes:NameCurrent rateDescription and examplesStandard20%The standard rate of VAT is the default rate - this is the rate that's charged on most goods and services in the UK unless they're specifically identified as being reduced or zero-rated.Reduced5%Domestic fuel and power, installation of energy-saving materials, sanitary hygiene products, children's car seat, etc.Zero0%Food (not meals in a restaurant or hot takeaways though), books/ newspapers, children's clothes/ shoes, public transport etc.ExemptN/aThe law stipulates that VAT exempt goods or services must not have any VAT charged on them. Examples include insurance, providing credit, education, fundraising, membership, etc.Outside the scopeN/aItems that are completely outside of the UK VAT system. Examples include drawings, wages, MOT tests, rates, etc.Farming is an industry where VAT refunds often occur. Their direct purchases are mostly zero-rated and so are their sales. However, any VAT they incur on other expenses such as overheads or equipment can be recovered – hence the refund position.Other examples of businesses that may wish to register for VAT voluntarily might include a green grocers or a children’s shoe shop. Again, their sales and direct purchases will generally be zero-rated, however, if they incur any overheads, legal fees or equipment, they should be able to recover any VAT they’ve been charged on these purchases. Choosing a VAT schemeOnce you’ve established when to register for VAT, you’ll want to consider the most appropriate VAT scheme for your business. There are three main options:VAT flat rate schemeThis is only eligible for businesses with less than £150,000 (of taxable turnover – this is the total of everything you’ve sold that isn’t VAT exempt). The scheme is designed to make record keeping more simple for small businesses by allowing you to apply a fixed-rate percentage to turnover, dependent on industry.For more detailed information from HMRC, click here.VAT cash accounting schemeAnother popular choice for start-ups and small businesses (turnover must be less than £1.35m), in this scheme you only have to pay VAT on your sales once you have received payment from your customers. Likewise you only reclaim VAT on any purchases you make once you have paid your supplier.Typically, outside of this scheme VAT payments are due to HMRC regardless of whether your invoices have been paid yet, which can cause cashflow issues.You cannot use the cash accounting scheme in conjunction with the VAT flat rate scheme.Annual accounting schemeRather than filing your return each quarter, this scheme allows businesses to submit one annual return, as well as making advance payments (using estimated amounts based on the previous year’s return) throughout the year.Once you’ve completed your return, you can then either make a final payment (to cover any shortfall between your advance payments and the final bill) or apply for a VAT refund if you’ve overpaid.For more information on VAT registration, check out part two of this guide: How to register for VAT Startups.co.uk is reader-supported. If you make a purchase through the links on our site, we may earn a commission from the retailers of the products we have reviewed. This helps Startups.co.uk to provide free reviews for our readers. It has no additional cost to you, and never affects the editorial independence of our reviews. Share this post facebook twitter linkedin Written by: Aimee Bradshaw Senior Writer Aimee is Startups' resident expert in business tech, products, and services. She loves a great story and enjoys chatting to the startups and small business community. Starting her own egg delivery business from the age of 12, she has a healthy respect for self-starters and local services.
Google study highlights importance of mobile-friendly websites dotMobi joins GetMo programme to encourage business’ adoption Written by Aimee Bradshaw Published on 26 March 2012 Mobile searches for leading retail brands increased by 166% in the UK last Christmas.That is according to Google, who have released results highlighting the importance for businesses – and particularly retailers – to have a mobile-friendly site to serve traffic.Nearly four out of five large UK online advertisers do not currently have this facility – risking alienating customers and incentivising them to go elsewhere.Google’s head of global mobile sales Jason Spero further reported that approximately 15% of all web traffic is now mobile – likening a failure to answer this demand with a mobile site to closing down your website for one day every week.Now Google’s GetMo scheme – which aims to help UK firms establish a presence on the mobile web – has partnered with dotMobi, to introduce the goMobi mobile website builder to Google’s business users.Established in 2010, goMobi allows firms to create sophisticated mobile websites via a simple cloud service, including click-to-call, m-commerce support, maps and social networking functionality. The service is currently available to businesses at a 40% discount through group hosting site Easyspace, including a free trial.Eileen O’Sullivan, COO of dotMobi, said: “We’ve been in mobile web since its beginning, so we understand websites need to deliver a local, personal and mobile-specific experience to customers.“Mobile is not desktop made smaller. It’s a different medium and needs a different approach.” Share this post facebook twitter linkedin Written by: Aimee Bradshaw Senior Writer Aimee is Startups' resident expert in business tech, products, and services. She loves a great story and enjoys chatting to the startups and small business community. Starting her own egg delivery business from the age of 12, she has a healthy respect for self-starters and local services.
Crowdcube celebrates first birthday with £2.3m invested First year investments to create over 200 new jobs Written by Aimee Bradshaw Published on 26 March 2012 Happy birthday to Crowdcube, which is today celebrating its first year of trading.The crowdfunding platform was the first equity-based model in the world when it launched last February and has facilitated investments totalling £2,352,000 in small businesses within 12 months.Eleven businesses have secured seed or growth capital through the platform to date – including Crowdcube itself – which is expected to create an estimated 246 new jobs within the next three years.In November 2011, Crowdcube hosted the world’s first £1m investment through crowdfunding, positioning the business as a leader in its field.Last month the start-up’s founders were invited to Number 10 to advise on the implementation of the Seed Enterprise Investment Scheme and they also launched their first white-label partner site, with Startups.Crowdcube has created an infographic to celebrate its first birthday. Share this post facebook twitter linkedin Written by: Aimee Bradshaw Senior Writer Aimee is Startups' resident expert in business tech, products, and services. She loves a great story and enjoys chatting to the startups and small business community. Starting her own egg delivery business from the age of 12, she has a healthy respect for self-starters and local services.
Top 20 round-up: Blue Dot secures £50,000 investment through NESTA The latest news and deals from our Top 20 start-ups of 2011 Written by Aimee Bradshaw Published on 26 March 2012 Blue Dot has been selected as one of the first 15 businesses to secure investment from NESTA’s Innovation in Giving fund.The social currency concept – which rewards people for doing good things such as volunteering, donating or liking not-for-profit businesses on Facebook – was chosen from over 400 applicants to receive £50,000 from the Fund.Launched in September, the £10m Innovation in Giving Fund is part of a £34m package from the Cabinet to increase levels of social action.Cubesocial wins Local Business Accelerators awardSocial media manager Cubesocial has been selected as one of the outstanding businesses of its local community.The start-up, which is based in Basingstoke, was chosen as one of three businesses in the area to win the regional Local Business Accelerators award, which includes a three-month advertising campaign in a local paper and mentoring.The business – which was recently named as a ‘One to watch’ by Index B, alongside Top 20 peer Crowdcube – will now go through to the final, where it will be assessed for its ability to create jobs, revitalise its local community and create economic growth.The overall national winner will receive mentoring from Dragons’ Den star Deborah Meaden.Marketinvoice celebrates £1m-December with international expansionFinancial e-commerce site Marketinvoice has announced plans to expand into Asia, less than a year after its launch.The start-up – which allows suppliers to ease cashflow woes by auctioning outstanding invoices – is setting up a liaison office in Hong Kong, after spotting demand for international invoice auctioning.The move follows a record month of trading for Marketinvoice in December, when the site helped small businesses access over £1m in finance. The founders expect their clients to auction up to $5m (£3.1m) through the site in 2012.The fore-mentioned businesses are all among those chosen as our Top 20 start-ups of 2011 Share this post facebook twitter linkedin Written by: Aimee Bradshaw Senior Writer Aimee is Startups' resident expert in business tech, products, and services. She loves a great story and enjoys chatting to the startups and small business community. Starting her own egg delivery business from the age of 12, she has a healthy respect for self-starters and local services.
Tech innovators offered start-up support with launch of £150m fund MTI partners with university research centres to provide seed capital Written by Aimee Bradshaw Published on 26 March 2012 A new investment fund designed to help tech innovators transfer their ideas to market was unveiled yesterday.The Orion Fund – which was launched by venture capital firm MTI, in partnership with the Universities of Manchester, Edinburgh and University College London – aims to raise £150m for tech start-ups, making it the largest investment fund of its kind in the world.Working with three of the UK’s top six universities for commercial tech research, the fund will assess hundreds of innovations for their potential – and many will receive pre-seed funding to test their viability as businesses.Ultimately, 35 of the country’s best tech innovations will be selected to receive seed funding of between £250,000 and £750,000.These businesses can then potentially bid for further investment, typically ranging from £3m to £5m, at a later stage. The fund, which is currently raising its investment finance, hopes to accumulate the capital from pension funds, insurance societies and family offices.Four leading investors will use their networks to join the fundraising effort, before joining the board as fund partners when the target is met.Speaking for the new partners, Sir Richard Heygate said: “The United Kingdom has always been one of the most innovative countries in the world, although sometimes it has lagged behind others in turning this creativity into world-ranking businesses.“The new fund is well positioned to…create significant new wealth for our investors and our country.” Share this post facebook twitter linkedin Written by: Aimee Bradshaw Senior Writer Aimee is Startups' resident expert in business tech, products, and services. She loves a great story and enjoys chatting to the startups and small business community. Starting her own egg delivery business from the age of 12, she has a healthy respect for self-starters and local services.
Healthy restaurant chain Leon to launch franchise model Fast food veteran hired to head up operation Written by Aimee Bradshaw Published on 26 March 2012 The former chief executive of Burger King has been hired to guide the UK roll-out of a brand-new franchise – based on healthy eating restaurants.Brad Blum, who was Burger King boss from December 2002 to July 2004, has taken a senior advisory role at Leon, six weeks before the brand’s first franchised outlet opens for business.The restaurant will be based in the entrance hall of London’s Kings Cross station, and a further eatery will open at Heathrow Airport shortly after.Leon’s founders Henry Dimbleby and John Vincent, who have hitherto focused their expansion on London and the South East, plan to open a further three Leons – with the ultimate goal of 30 franchised outlets across the UK and US.Dimbleby and Vincent have also inked an agreement with US firm HMSHost to manage the initial wave of franchised premises.Leon already serves 50,000 people every week, and recorded revenue of £12m in 2011. The founders hope that, by adding a dash of Blum’s fast food acumen, they can create a truly unique proposition.Dimbleby – son of the famous BBC political anchor David – told The Financial Times: “We believe that there will be a few global players who will succeed in serving good fast food. Our ambition is to be one of those.”To find out more about franchise opportunities with Leon, keep an eye on the Leon website. Share this post facebook twitter linkedin Written by: Aimee Bradshaw Senior Writer Aimee is Startups' resident expert in business tech, products, and services. She loves a great story and enjoys chatting to the startups and small business community. Starting her own egg delivery business from the age of 12, she has a healthy respect for self-starters and local services.
Subway franchise plans to open 600 new UK branches Sandwich giant set to explore hospitals, airports and petrol stations Written by Aimee Bradshaw Published on 26 March 2012 Subway, the international sandwich franchise, has announced plans to open 600 new branches in Britain and Ireland over the next three years, creating 6,000 new jobs in the process. It is thought that the company, which has earned global fame for its quick-service rolls and baguettes, hopes to explore new locations such as hospitals, airports and petrol stations during the expansion. Subway believes that the recession has increased public demand for quick, affordable meals. Its signature lunch deal, currently available for just £3, is specifically designed to capture this market. The franchise currently comprises more than 1,400 stores across the UK – a five-fold increase on 2004. Furthermore, footfall has soared across the country in recent months. According to Subway’s latest UK financials, sales at stores which opened before January 2011 have risen 10% in the last 13 weeks. Discussing the UK expansion, Fred DeLuca, president and founder of Subway, said: “Everybody eats three times a day; it’s only a question of where they choose to eat. The longer-term trends are people eat out more often. “When we get to 2,000 stores, we’ll have about one store for every 30,000 people (in the UK). That’s actually quite low density for us. In the US and Canada, we have one store for every 12,000 people.” For more information on franchise opportunities with Subway, visit the Subway website. Share this post facebook twitter linkedin Written by: Aimee Bradshaw Senior Writer Aimee is Startups' resident expert in business tech, products, and services. She loves a great story and enjoys chatting to the startups and small business community. Starting her own egg delivery business from the age of 12, she has a healthy respect for self-starters and local services.
LinkedIn game helps entrepreneurs risk-assess their business Snakes and ladders’ style game calculates insurance needs Written by Aimee Bradshaw Published on 26 March 2012 An innovative new game to help entrepreneurs risk-assess their business ventures has been launched via LinkedIn.The ‘snakes and ladders’-style game was devised by AXA Business Insurance after its research suggested that many new business owners start up without properly assessing the risks they may face – or taking steps to safeguard their start-up.The new online game can be played using LinkedIn login details, and helps players assess their insurance needs with a series of true or false questions. Players can compare their scores with their LinkedIn contacts, to aid discussions and advice sharing on the topic.Amanda Blanc, CEO of AXA Commercial Lines, said: “New businesses are the backbone of our economy and will help drive us forward.“They need to be as prepared for the risks they may face as they grow, by taking out protection.”Regarding the specific target audience, Blanc added: “This online game is designed to encourage small businesses – particularly those just getting off the ground – to think about the risks and [how] to ensure their business climbs the ladder of opportunity, rather than falls down following unexpected disaster.“It’s intended to be a fun way of getting a serious message across: without the right protection, a small business may not survive a pitfall.” Share this post facebook twitter linkedin Written by: Aimee Bradshaw Senior Writer Aimee is Startups' resident expert in business tech, products, and services. She loves a great story and enjoys chatting to the startups and small business community. Starting her own egg delivery business from the age of 12, she has a healthy respect for self-starters and local services.
PM challenges potential entrepreneurs to unleash the ‘Business in You’ Cameron also pledges under-used government offices to start-ups Written by Aimee Bradshaw Published on 26 March 2012 The prime minister David Cameron has today unveiled a major campaign to boost entrepreneurship in the UK, following last week’s reports that he would launch a new start-up initiative.The nationwide ‘Business in You’ campaign – which was launched in partnership with StartUp Britain – aims to inspire potential entrepreneurs to start their own businesses and to encourage existing small businesses to grow.Based on the concept that there is “a business in everyone”, the campaign will champion the stories of nine inspirational UK entrepreneurs, from a variety of backgrounds, who have used their passion or talent to develop successful businesses.The ambassadors include Jamal Edwards, the 21-year-old founder of SBTV – an innovative broadcast company which has amassed more than 50 milllion YouTube views.Moonfruit’s Wendy Tan-White, Alastair Mitchell of Huddle, Richard Moross from moo.com and Paul Lindley, founder of Ella’s Kitchen – one of the 10 fastest growing private companies in the UK – are also among the campaign heroes.Cameron further pledged to make up to 300 empty and under-used government offices available to entrepreneurs struggling to find suitably flexible and affordable work spaces, from which to start or grow their businesses.Launching the campaign in front of an audience in Leeds this morning, Cameron said:“Small businesses and entrepreneurs are the lifeblood of the British economy and I am determined that we, working with the private sector, do everything we can to help them to start up and to grow in 2012.“I want to encourage people to go for it and make this the year of enterprise – whether that is fulfilling their dream of starting a new business or taking the leap to grow their business, to employ more staff, or to start exporting.”The initiative will draw on the resources of a number of private sector partners to offer potential entrepreneurs advice on starting up, including workshops, web-based seminars and video tutorials, covering topics such as finding finance and mentors.Michael Hayman, co-founder of StartUp Britain added: “Is there a business inside you? We believe the answer is yes and we want to inspire those with a dream to make it a reality by starting their own business.“All around the country are people proving that you can make it in Britain, be your own boss and create the jobs that can help transform communities. This campaign champions the courage and determination of Britain’s entrepreneurs – the people that change things. The people that have a go.”For more information on the campaign, visit the Business in You website Share this post facebook twitter linkedin Written by: Aimee Bradshaw Senior Writer Aimee is Startups' resident expert in business tech, products, and services. She loves a great story and enjoys chatting to the startups and small business community. Starting her own egg delivery business from the age of 12, she has a healthy respect for self-starters and local services.
Business ideas for 2012: Hobby and crafts Why this year could be the perfect time to turn your crafting skills or hobby into a business Written by Aimee Bradshaw Published on 26 March 2012 Why is it so promising?Britain has always held artisan craftsmanship in high esteem; the UK has long had the biggest cultural industry in the world as a percentage of GDP. But, right now, things are getting even better. With the explosion of pop-up shops, the revival of fairs and markets, and a cultural shift away from bling and labels towards quaint and quirky boutique designs, the arts scene is in the middle of an extremely lucrative renaissance.According to figures from the Crafts Council, the total UK market, encompassing both active and potential buyers, comprises 26.5 million people. And it’s never been easier to get a craft business off the ground. According to Doug Richard, former Dragons’ Den panellist and founder of the School for Creative Startups:“The problem for a craft producer over recent years has been that you can’t build to a large scale, and you can’t serve a huge marketplace. But the web is changing the latter fundamentally. For example Notjustalabel, a platform for young designers, wouldn’t have existed 10 years ago. Now people can represent themselves globally, and still be small and independent.”Furthermore, a series of advice and mentoring schemes have been developed, such as Crafted, so there is plenty of support available if you choose to go down this route.What are the specific opportunities?Jewellery making, ceramics, glass-blowing, textiles – whatever your craft, hand-made chic is in. It is also the perfect business to start off part-time, from home, allowing you to test the water and learn what sells before taking the plunge into full-time entrepreneurship.The sector or specialism you choose to pursue will obviously depend on your own skills and knowledge. There’s no point starting a pottery business if your main specialism is jewellery design. In terms of competitors, there’s little difference between any of the major industries. According to recent figures, 34% of contemporary craft businesses operate in the textiles sector, with 30% specialising in ceramics and 21% in jewellery.Furthermore, it’s hard to pinpoint one specific sector within this space, because all the major trades appear to be flourishing. A 2009 report from Mintel forecast 11% growth in the UK’s jewellery and watches market between 2010 and 2015, and at the moment this bullish prediction appears justified. However there has been equally significant growth in other sectors; for example, thanks to the efforts of start-ups such as the Cambridge Satchel Company, Britain’s boutique bags have captured the attention of celebrities around the world.Whatever you choose to do, it’s important to keep in mind that this is not a hobby, it’s a commercial operation which has to be scalable. You might enjoy making, say, tables or wooden toys – but will you be able to ramp up your production levels to keep up with demand? If not, you’ll need to think about employing other people to share the workload.And you also need to consider your sales and marketing strategy. As we said earlier, there are loads of exciting routes to market. In addition to Notjustalabel, NotontheHighStreet promotes dozens of start-up and home-based designers in a range of sectors, from weddings and childcare to toys and home furniture, while Etsy and Folksy specialise in hand-made wares. Similarly, ASOS provides a fashion marketplace for boutique as well as big designers. If you speak to the right people, you’ll give yourself a great chance of flying start.Who’s doing it?Dickie Wilkinson, DWRM“I’m a designer and I work with silverware, specialising in cufflinks. Although I don’t make a lot of my own products, I do insist on having every product made in the UK.“We started the business when I met Doug (Richard) at the School for Creative Startups in September 2011, although I already had some samples. I wouldn’t say it’s fully taken off yet, not in terms of sales anyway, but I’m now stocked in four stores, including one on Jermyn Street in the heart of London.“Jewellery and ceramics are traditionally the two main professional avenues for arts and crafts, because there will always be demand for them. But the explosion has been towards the knick-knack things, inspired by Kirstie Allsop and the have-a-go-yourself attitude. People will increasingly go towards bespoke and commissioned work, and I noticed a lot of other arts and crafts businesses moving towards this at the School for Creative Startups.“Thankfully, my business has scalability. I can ramp up to a bulk order for a department store, but also offer limited edition and bespoke. I come from a tailoring background, so that range of service was always there. We’ll increasingly see that bespoke element entering all aspects of arts and crafts in the next few months.”If you’re a skilled craftsperson with an eye for what sells, read our step-by-step guide on how to start a craft business.Published Jan 2012 Share this post facebook twitter linkedin Written by: Aimee Bradshaw Senior Writer Aimee is Startups' resident expert in business tech, products, and services. She loves a great story and enjoys chatting to the startups and small business community. Starting her own egg delivery business from the age of 12, she has a healthy respect for self-starters and local services.
FPB applauds government decision to boost tech talent in schools Statement comes as research reveals growing demand for IT in workplace Written by Aimee Bradshaw Published on 26 March 2012 The Forum of Private Business (FPB) has applauded the government’s decision to invigorate the way IT is taught in British schools, as announced by the education secretary this week.The move – which it is hoped will increase pupil engagement and foster young tech talent – was celebrated by the FPB, which claims this has been long demanded by its small business members.The Forum’s chief executive Phil Orford said: “A targeted approach to what secondary school pupils learn in the classroom with an eye on the types of skills employers require is exactly what we need to see more of. Our own research has shown that there is a gap between what businesses need and what businesses get when it comes to education standards.”The new plans came as the latest figures from Freelancer.co.uk revealed significant growth in the demand for tech talent. According to quarterly statistics, detailing the jobs posted on the website, one of the greatest increases in demand was for freelance C++ programmers (up 38%).Other significant rises included demand for freelance programmers with skills in Java (up 36%), Android (up 33%) and Facebook (up 29%).Orford added: “The future is digital, therefore there’s a clear requirement for more workers who are already skilled in this area, and who will want to take their studies in this subject further.“Small businesses are desperate for employees with the right skills, and this seems a significant step in the right direction from government to achieving that aim by helping improve the calibre of school leavers in a key area.“If the private sector is to drive and grow the economy in the future, we need well-educated innovators and entrepreneurs who can deliver in key growth areas such as IT.” Share this post facebook twitter linkedin Written by: Aimee Bradshaw Senior Writer Aimee is Startups' resident expert in business tech, products, and services. She loves a great story and enjoys chatting to the startups and small business community. Starting her own egg delivery business from the age of 12, she has a healthy respect for self-starters and local services.
What is crowdfunding? Discover how crowdfunding works, the different types available and the best crowdfunding platforms to help you raise money for your business. Written by Aimee Bradshaw Published on 26 March 2012 Often one of the biggest hurdles people face when they want to start a business is a lack of funding.Launching a new business doesn’t come cheap and if you don’t have a goldmine of personal savings to use, getting your head around business loans, grants and investors can be tricky.But what about crowdfunding? This innovative new way of funding a business continues to grow in popularity and could be the answer you’re looking for.Crowdfunding can be a gamechanger for smaller startups, but how exactly does it work? Keep reading to discover what crowdfunding is and how you can make it successful. This article will cover: What is crowdfunding? How does crowdfunding work? Should I use crowdfunding for my business? How much does crowdfunding cost? Best crowdfunding platforms Successful startups that used crowdfunding Tips for crowdfunding success Verifying Get the latest startup news, straight to your inbox Stay informed on the top business stories with Startups.co.uk’s weekly newsletter Please fill in your name Please fill in your email Subscribe By signing up to receive our newsletter, you agree to our Privacy Policy. You can unsubscribe at any time. What is crowdfunding?Crowdfunding is a unique way of raising finance, usually for a new business. With crowdfunding you raise funds by receiving small amounts of money from a large number of people.Whereas traditional funding methods usually involve a small number of investors or an angel investor contributing large sums of money, crowdfunding switches this round.Businesses can make use of social media and crowdfunding platforms in order to connect with potential investors to raise the money they need.There are various different types of crowdfunding:Reward crowdfunding: investors receive an agreed reward for their investment such as free products, acknowledgements or tickets to live events.Equity crowdfunding: investors receive shares in the company in return for their investment. Donation crowdfunding: investors contribute with no expectation of anything in return (e.g. donating to a GoFundMe).Debt crowdfunding: investors receive their money back over time with interest. How does crowdfunding work?Raising money and capital is a key part of running and growing a business and while larger businesses often have no problems securing funding via loans and traditional investors, it can be harder for smaller businesses and startups.Enter crowdfunding.Crowdfunding works by harnessing the power of the internet and instead of having to choose a single investor, business owners collect small contributions from people who believe in their idea.The average crowdfunding campaign can be broken down into these stages:Choose a crowdfunding type (reward, equity, donation or debt).Select a crowdfunding platform. Set your financial goal and timeframe.Create your campaign, taking the time to develop a strong pitch.Promote your campaign across social media, email marketing etc.Keep your investors up to date.Deliver on your promises. Should I use crowdfunding for my business?Deciding whether or not to use crowdfunding for your business is a big decision. To help you out we’ve listed some of the pros and cons of the funding option.Crowdfunding prosA fast way to raise the money you need.Provides access to a larger, more diverse group of investors.A great way to test public reaction to your business idea and receive valuable feedback.Helps to grow the audience for your business. Many of your investors will also become loyal customers. Crowdfunding consMost crowdfunding platforms charge you a fee.If you don’t reach your goal, pledged money is often returned to investors leaving you with nothing.Failed projects can damage your reputation.If you haven’t got a patent or copyright for your business idea, there’s nothing stopping someone from seeing your crowdfunding campaign and copying your idea. There are various ways to finance your business including venture capital, seed funding, series funding and small business grants. For a complete overview of the finance options available, head to our business finance page. How much does crowdfunding cost?The good news is that most crowdfunding platforms won’t charge you for publishing your pitch, but they will take anywhere between 5%-12% commission when you reach your target – so be sure to take this into consideration when planning your budget in your business plan. Another cost you’ll have to factor in if you opt for crowdfunding is the rewards you offer investors. If you decide on a rewards-based model you’ll need to work out exactly how much the rewards will cost you and factor that into your projections. Best crowdfunding platformsAs we’ve mentioned, there are various crowdfunding platforms out there, but which ones are the best?KickstarterKickstarter is one of the original crowdfunding platforms and has funded over 250,000 projects since its launch in 2009.Kickstarter projects are rewards-based, meaning you can’t offer equity in your business, and successful campaigns also have to pay a 5% commission.IndiegogoAnother popular choice is Indiegogo.Unlike Kickstarter, Indiegogo offers a flexible option meaning you’ll receive your pledges even if you don’t reach your goal plus there’s a feature that allows you to keep raising money even once your goal has been reached.There’s a 5% commission fee when using Indiegogo.CrowdcubeCrowdcube is a UK-based equity crowdfunding platform. While the platform hosts far fewer projects than competitors such as Kickstarter, it does have various features and benefits including the ability to set private and follow-up crowdfunding rounds.You’ll pay 7% commission on all funds. With so many crowdfunding platforms available, it’s crucial to choose the one that best fits your business model and funding goals. Successful startups that used crowdfunding There have been thousands of startups that have successfully used crowdfunding to get their business off the ground.Some of our favourite examples include Runna, a fitness training app that raised £500,000 via crowdfunding and The Cheeky Panda, an eco toilet paper company now worth £75million five years after launching via crowdfunding.Other notable crowdfunding success stories include THIS who raised over £8million across two fundraising rounds, deodorant brand Fussy that started out on the Kickstarter platform and IMPOSSIBREW, an alcohol-free beer that’s raised almost £1million in crowdfunding since 2022.Impressive stuff! If they can do it, why can’t you? Tips for crowdfunding successCrowdfunding presents a fantastic opportunity for small businesses but it shouldn’t be entered into lightly.You’ll need to carefully consider if it’s right for you. If you do decide to undertake a crowdfunding campaign, here are some top tips for making it a success:Set clear and realistic goals that you are confident you can achieve.Consider platform fees and taxes etc to ensure you raise the amount of money you need.Put effort into your campaign page. Hone your pitch, provide images and videos and be clear on your project and why it matters.Keep your investors updated about the progress of your campaign.Keep promoting your campaign, don’t expect investors to find you, take your campaign to them.Ensure you have the time and resources to answer investor questions and discuss your pitch in more detail.Final thoughts Crowdfunding has transformed the way business ideas become reality, giving small businesses the chance to build a loyal community at the same time as raising funds. With the right strategy, your crowdfunding campaign can be more than just a way to raise money, it can be an impactful way to build a loyal community for your brand too.If you’ve got a business idea but are unsure how to fund it then crowdfunding could be the answer. Lucy Nixon - content writer With 10 years experience in the digital marketing industry, Lucy is a content writer specialising in ecommerce, website building and all things small business. Her passion is breaking down tricky topics into digestible and engaging content for readers. She's also committed to uncovering the best platforms, tools, and strategies, researching meticulously to providing hand-on tips and advice. Crowdfunding Your Small BusinessDiscover how crowdfunding works, the different types available and the best crowdfunding platforms to help you raise money for your business. Share this post facebook twitter linkedin Written by: Aimee Bradshaw Senior Writer Aimee is Startups' resident expert in business tech, products, and services. She loves a great story and enjoys chatting to the startups and small business community. Starting her own egg delivery business from the age of 12, she has a healthy respect for self-starters and local services.
StartUp Games to attract foreign start-ups to Tech City Olympics initiative will promote talent and diversity in UK start-up scene Written by Aimee Bradshaw Published on 26 March 2012 The government is to invite 300 international start-ups to Tech City at the same time as the Paralympic Games, to take part in a new ‘StartUp Games’ initiative.The event – which will be organised by the government’s trade and investment promotion industry, UKTI, in cooperation with the Olympic Park Legacy Company – will see foreign start-ups compete to be recognised among the world’s highest potential start-ups.The scheme ties in with plans to populate the area of East London known as ‘Silicon Roundabout’ with technology start-ups, to make the district a world-force in tech innovation.It is hoped that some of the shortlisted businesses will consider relocating to the area, after experiencing the Olympics buzz in nearby Stratford.Rajeeb Dey, co-founder of StartUp Britain which will also be involved in the initiative, believes the scheme will also benefit UK start-ups. Speaking exclusively to Startups, he said:“The StartUp Games will provide an exciting opportunity for start-ups to benefit from the increased exposure the Olympics will bring to the area surrounding Tech City – and will showcase what Britain, and in particular East London, has to offer tech start-ups.”Dey, who is also CEO of Enternships.com, a tech start-up which connects interns to entrepreneurs, added:“As an entrepreneur based within Tech City myself, I have seen the benefits of having a diverse workforce (our team includes people from the US, Romania and India).“Diversity of talent – both of the entrepreneurs leading start-ups and those looking to work within start-ups, in Tech City, is a tremendous asset for the area and the StartUp Games will be a great platform to celebrate this.” Share this post facebook twitter linkedin Written by: Aimee Bradshaw Senior Writer Aimee is Startups' resident expert in business tech, products, and services. She loves a great story and enjoys chatting to the startups and small business community. Starting her own egg delivery business from the age of 12, she has a healthy respect for self-starters and local services.
Tenner Tycoon suspended after failing to find new backer Peter Jones slams “losers” who hinder enterprise education Written by Aimee Bradshaw Published on 26 March 2012 Tenner Tycoon, the flagship scheme for stimulating young entrepreneurship in the UK, has been suspended – prompting an angry reaction from Dragons’ Den star Peter Jones.The initiative, which launched in 2007 as Make Your Mark with a Tenner, gave school pupils a £10 note and challenged them to build a business.However, when the government withdrew funds from Enterprise UK – the quango behind the scheme – last year, the initiative was left without a home.Although potential partners have now been found, coordinating the process of handing over Tenner Tycoon has caused a delay which will prevent the 2012 programme launching in March.Speaking exclusively to Startups, Oli Barrett, co-founder of Tenner Tycoon, said: “The trustees of Enterprise UK have been through a thorough process which, in the end, was just not fast enough to enable the scheme to proceed on time.”Jones has invested £200,000 in the initiative over the last two years, with the scheme adopting the name ‘Tycoon’ to reflect his involvement.However, it appears the celebrity entrepreneur was disappointed by the delays. Barrett told our reporter:“My understanding is that he (Jones) became frustrated by the process conducted by the trustees and ultimately decided that he wanted to go his own way.“It’s a shame that such a simple idea has been bogged down when it should be unleashed and allowed to fly.”Jones released a string of heated tweets alluding to the topic on Twitter this morning. In one, he said:“Note to self: ‘continue to battle against bureaucrats who hinder entrepreneurial learning in our schools. They’re losers. The kids must win.'”In another he wrote: “I might start naming & shaming those who hinder my campaign of encouraging enterprise in schools if I don’t get what I want” – adding the tag ‘ #wontbestopped’.Barrett added: “Peter is one of those people who, as soon as he heard about Tenner, just ‘got it’ and loved it.“He has been an incredible supporter over the years and I know will continue to champion everything that the scheme is about.” Share this post facebook twitter linkedin Written by: Aimee Bradshaw Senior Writer Aimee is Startups' resident expert in business tech, products, and services. She loves a great story and enjoys chatting to the startups and small business community. Starting her own egg delivery business from the age of 12, she has a healthy respect for self-starters and local services.
UK entrepreneurs plan overseas expansion in 2012 One in three targeting international market, with focus on western Europe Written by Aimee Bradshaw Published on 26 March 2012 Nearly a third of UK entrepreneurs are planning to expand their businesses overseas in the New Year, research has revealed.According to RSM Tenon, 31% of Britain’s entrepreneurs have the international market in their sights for 2012 – with nearly half looking to western Europe as their best opportunity for international growth, in spite of the Eurozone crisis.Next on the hit list is eastern Europe, which will be pursued by 37% of the study’s respondents – while 35% will seek new customers in north America.The research – which featured contributions from leading UK entrepreneurs including Will King, founder of King of Shaves, and angel investor Sherry Coutu – also found that the highest proportion of internationally-minded entrepreneurs are based in London (68%), closely followed by Midlands-based businesses.However, on top of ambitious overseas expansion plans, 15% of the entrepreneurs studied said that they are looking to acquire additional businesses in international markets within the next 12 months.One in three entrepreneurs said that increased international opportunities would play a key role in the overall improvement of entrepreneurship in the UK.Philip Coleman, head of international business development RSM Tenon, said: “It is interesting that despite the current crisis in the Eurozone, most of the entrepreneurs see their businesses expanding into Europe over the next year.“Despite the current difficulties, I think that there are really interesting opportunities for UK companies in Europe.“My advice is to look beyond the crisis, be prepared to go in and stay in for the long-term, and if it is done in the right way there could be some good rewards for UK entrepreneurs post the issues in the Eurozone.” Share this post facebook twitter linkedin Written by: Aimee Bradshaw Senior Writer Aimee is Startups' resident expert in business tech, products, and services. She loves a great story and enjoys chatting to the startups and small business community. Starting her own egg delivery business from the age of 12, she has a healthy respect for self-starters and local services.