Business

Hidden Costs Every Small Business Owner Should Know

Running a small business is often portrayed as a straightforward venture: offer a product or service, make sales, and watch profits grow. However, the reality is far more complex. Small business owners frequently encounter hidden costs that can erode profits if not carefully managed. From licensing fees to employee expenses and unexpected operational costs, these financial pitfalls can catch even the most prepared entrepreneurs off guard. Understanding these hidden expenses is crucial for sustaining a healthy business and avoiding unpleasant surprises.

1. Licensing, Permits, and...

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New business wins drive SW economic growth

Private sector firms in the South West continued to recover from economic uncertainty in October, driven by the fastest gain in new business since the start of 2015, according to the latest Lloyds Bank Regional PMI.

The South West PMI® registered 53.6, down slightly from September’s 54.5 but still indicating growth in business activity. A PMI reading above 50 signifies growth in business activity, and the greater the divergence from the 50 mark, the faster the rate of change.

New business increased at a significant pace, and South West firms saw a large boost in backlogged...

5 precautionary steps to avoid winding up

With the majority of small businesses failing before they reach the 5-year mark, it can seem as though launching a successful startup in today's competitive world is an uphill battle. Nobody ever said that doing business successfully would be easy, but it certainly isn't impossible either. Whether you're preparing for a grand opening or are looking or a way to turn the tables on a struggling business, follow the steps below and you'll be headed in the right direction:

1. Formulate a Plan to Deal with Debt and Taxes

All companies have to pay taxes and most will deal with...

ExIST explores the digital skills gap at quarterly event

Exeter Initiative for Science and Technology (ExIST) will be holding their fourth event of 2016 at Sandy Park Conference Centre on the 24th November, focusing on the digital skills gap across the region.

Speakers for the event include Doniya Soni, Policy Manager at techUK; Ben Neild, Assistant Director Marchmont Observatory, University of Exeter and David Ives, Chief Technology Officer, Crowdcube.

The digital skills gap is costing the UK economy an estimated £63 billion a year and the challenge to rectify this is particularly acute for South West based, high growth,...

Plans for an Exeter and East Devon Enterprise Zone move a step closer

Exeter and East Devon Enterprise Zone moved a step closer to becoming operational on Wednesday (9 November) as both Devon County Council and East Devon District Council agreed to sign a Memorandum of Understanding with Government. Each council discussed the memorandum at their respective Cabinet meetings and agreed the move which would boost business across four sites – Skypark, Science Park, Cranbrook town centre and the Airport Business Park extension. The Exeter and East Devon Enterprise Zone would be in place for 25 years and worth an estimated £10m per year. The zone would provide a...

Top rankings for Stephens Scown in legal guide

“Simply superb”, “professional and customer focussed” and “an excellent law firm to work with” are just some of the client comments about leading Exeter law firm Stephens Scown LLP included in Chambers UK’s 2017 guide. Chambers is a prestigious independent guide to lawyers and law firms, which is largely based on client feedback. Stephens Scown has gained top rankings in a number of areas. Sixteen lawyers from the firm’s Exeter office have been ranked in the guide, with three gaining top tier ranking. Jim Gorrod, an Exeter-based partner who joined the firm this year, is listed for the...

Exeter Library gears up to support start-ups and entrepreneurs

Businesses in Exeter can now get extra support from Exeter Library following its launch as an Intellectual Property (IP) Centre. The library is the latest to join the UK’s network of Patent Libraries (PatLibs), set up by the Government in order to provide assistance on a variety of Intellectual Property Rights. Qualified and experienced staff at the library will provide local businesses and entrepreneurs with expert practical advice and support access to patent, trade mark, designs and copyright information. They will also run services such as patent searching, IP clinics and general...

Cranbrook shortlisted for LGC Awards 2017

Local Government Chronicle (LGC) has announced that East Devon’s new town of Cranbrook has been shortlisted in the ‘Housing Initiative’ category of their prestigious 2017 LGC Awards .

Cranbrook is in the running for another industry accolade, having been selected by a panel of judges who considered entries from all over the UK for the LGC Awards 2017. In order to be shortlisted, the submission had to clearly demonstrate how East Devon District Council alongside partners Exeter City Council, Devon County Council, Homes and Communities Agency (HCA) plus the development consortium...

City firm warns of cyber crime attacks on small businesses

Yesterday's announcement that the Government is to pump nearly £2 billion into cybersecurity has been welcomed by an Exeter company already at the forefront of a campaign to raise awareness of online crime in the business community.

Chancellor Philip Hammond has revealed more details of the national plan to protect the UK’s electrical grid and airports plus release some cash towards education and training of cybersecurity experts.

David Thomas, chairman of the Bluegrass Group, said the statement was a welcome reminder to companies of the risks they face from ruthless cyber...

Going back to prints: Why businesses are sticking to print documents

We’ve seen a lot of new technologies being introduced to help businesses – and individuals – use less paper. In fact, the whole movement of going paperless is a big thing among companies trying to go green and be friendlier to the environment. While these movements are positive, there are still areas where prints work best.

This is a trend that has been stealing attention this past year. Thanks to recycled paper and other forms of green technology being used in print productions, the trend is clearly getting more profound. Companies and businesses are sticking to print documents...

Firm’s passion for Devon secures another national award

A leading Devon law firm has won a national award for marketing for the second year in a row, and has clocked up its third national award in a month. Stephens Scown LLP, which is based in Exeter, won the Excellence in Marketing award at the Law Society Excellence Awards, which were announced in London on 20 October. The award was for the firm’s Love Where You Live campaign. Last year the firm won the same category for its Support SW Dairy Farmers campaign. The news comes just weeks after the firm scooped the Most Innovative Marketing award, as well as being named Law Firm of the Year at...

Business

Hidden Costs Every Small Business Owner Should Know

New business wins drive SW economic growth

5 precautionary steps to avoid winding up

ExIST explores the digital skills gap at quarterly event

Plans for an Exeter and East Devon Enterprise Zone move a step closer

Top rankings for Stephens Scown in legal guide

Exeter Library gears up to support start-ups and entrepreneurs

Cranbrook shortlisted for LGC Awards 2017

City firm warns of cyber crime attacks on small businesses

Going back to prints: Why businesses are sticking to print documents

Firm’s passion for Devon secures another national award

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