financial planning, Planning
Relevant Life Insurance – Why pay for life cover yourself when your business can? One of the valuable benefits that many employees enjoy is a death in service benefit. A comprehensive employment benefits package may also include earnings replacement and pension...
financial planning, Planning
Is Pension part of your business strategy? As a keen climber and mountaineer, I often compare retirement planning to climbing a mountain. On this journey, safely coming down is as important as getting to the top in the first place. In the past, more people had secure...
financial planning, Planning
Is Your Personal Financial Plan in check? Stepping into the world of business can be both exciting and overwhelming. On the one hand, the decision to build your own business can allow you to realise your aspirations, free you to choose your path in life and bring...
Planning, writing-a-business-plan
What you Need to Know About Protecting your IP Intellectual property (IP) is often overlooked as to its value, scope and importance within business … particularly with small businesses. There is a lot of specific and complex legislation around protecting your IP and...
home-or-premises
The Importance of Office Cleaning Not only does a freshly cleaned office create a healthy working environment for your staff, it tells your visitors a lot about your organisation. Providing and maintaining a clean and tidy office environment serves as a constant...
compliance-considerations, Planning
Businesses Requiring Licences Licences and registrations are applicable to many types of business and you need to know what is required to undertake your business activity. A simple example might be the requirement of gaining a food hygiene certificate before you can...
compliance-considerations, Planning
Business Insurance – an overview Editors Note: Expert content needs an expert content writer and Yorkshire Powerhouse is pleased to publish this business advice article on business insurance for SME’s, kindly written by a real expert in his field – Martin...
compliance-considerations, Planning
Business Law Whatever your view on business rules and regulations, they are there and, as such, non compliance is not an option. Although this is not the most exciting part of planning a business, the simple fact is that if there are regulatory or legislative factors...
compliance-considerations, Planning
Health and Safety & Environmental Health and Safety is a highly regulated area of business law that impacts on virtually every aspect of the business environment. You have a legal responsibility to ensure the Health and Safety of employees and visitors to your...
compliance-considerations, Planning
Registering with HMRC If you register with HMRC as a self-employed person (i.e. sole trader or partnership) you will pay tax on any profits your business makes at the end of your trading year. This is not just on any personal earnings but the bottom line on your year...
compliance-considerations, Planning
Financial compliance, VAT & record keeping One thing that is always a prime consideration when running a business is your obligations to compliance, financial regulation and legislation in relation to tax and national insurance (N.I.). It has to be said that,...
home-or-premises, Planning
Appointing a Good Solicitor The timing of choosing a solicitor can be really tricky and not conducive to a well thought through strategy. It’s often because a legal issue has arisen out of the blue, or there is a planned transaction such as a building purchase or...
home-or-premises, Planning
Planning Permission In another article we talked about working from home and the considerations that need to be taken before deciding if it is the right place for your business. If you have decided or are seriously considering working from home it is worth noting...
home-or-premises, Planning
Telecoms for a new business Editors Note: Expert content needs an expert content writer and Yorkshire Powerhouse is pleased to publish this business advice article on Telecoms for SME’s, kindly written by a real expert in his field – Matthew Cranney from Flex...
home-or-premises, Planning
Business Premises Commitment to take on business premises (bought or rented) is a very big decision for a business but especially a start-up. The considerations required if you decide that business premises are needed are some which should involve thorough research to...
home-or-premises, Planning
Working From Home Working from home might seem like the dream. No traffic to battle through, no set hours in the office, no structure of when to take your break and for how long. But it isn’t always the dream it is made out to be. It requires serious consideration...
Planning, seeking support
Coaching for new businesses Why use a coach when you are starting up your own business? Finding a business coach can viewed as finding your critical friend who isn’t there to tell you what to do. A business coach is there to support you achieve the goals you have set...
Planning, starting-a-business
Comprehensive Guide to Private Health Insurance for Small Business Owners in the UK Introduction: As a small business owner in the UK, it’s crucial to prioritize the well-being of both yourself and your employees. One effective way to ensure access to quality...
Planning, starting-a-business
How to successfully launch your new business Launching a business is like going on a journey to a new destination. Like any journey the key is to know where you are starting from and where you want to get to and your preferred method of travel which is likely to be...
are-you-an-entrepreneur, Planning
Understanding limiting beliefs Here is a process you can go through to get your entrepreneurial mindset right so you can become the best entrepreneur and the best version of ‘you’ possible. It all starts with your limiting beliefs What is a limiting belief and how do...
are-you-an-entrepreneur, Planning
What is the entrepreneurial mindset? Entrepreneurs seem to have a specific mindset and approach to their businesses … missing these particular traits can really hinder the person’s progress to true entrepreneurialism. This may be why in Yorkshire 25,000 businesses...
are-you-an-entrepreneur, Planning
What the heck is NLP? Now – there’s a question … and if you were to ask 50 different NLP experts the very same question you would get 50 different answers. NLP is such a big subject with so many amazing applications, backed by science and serious study, that to try to...
disaster-recovery-planning-worst, Planning
Cyber Security advice for small businesses Clearly the subject of cyber security is a massive one and this article is not meant to be a definitive guide … but in typical Yorkshire Powerhouse style, it’s proportionate, thoughtful and straight to the point and suggests...
Planning, pre-planning-business-idea
Starting a business – the Yorkshire Powerhouse guide to a successful launch This article is essentially a checklist of areas to consider when starting a business, with links to various articles within this website – bookmark this page, return regularly, get in touch...
Planning, pre-planning-business-idea
Market Analysis & Research Having a skill or being knowledgeable or experienced in an area that you feel can be turned into a business is no guarantee of success. No matter which way you look at it, there has to be demand; it’s straight forward – without a...
Planning, pre-planning-business-idea
Seeking support for your business idea Small business support When starting a business it is unwise to be totally self-reliant. Sure, the idea, the execution and the rewards will be down to you but there is a vast amount of support available to make the easy decisions...
Planning, pre-planning-business-idea
Are You an Entrepreneur? BIG decision!! Before you start planning a business venture you need to consider a number of things. Not least is a critical analysis of your personal attributes, experience, knowledge and skills that will make your business successful....
Planning, pre-planning-business-idea
Developing Your Business Idea Many sources can be the basis for you to generate a good business idea. It’s fair to say that most are influenced by existing skills, your previous experience or the knowledge that you already have … often coming from your existing work...
Planning, pre-planning-business-idea
What is an NDA and when should I use one? The reality is that most businesses (start-ups, struggling businesses, expanding organisations, new product releases, new service offerings, mergers, business sales, etc) need and benefit from external help and support. This...
Planning, writing-a-business-plan
Disaster recovery and protecting your business from the worst that can happen Disasters can occur to you (personally), your staff, your suppliers, your customers, your local area … even your Country (depending on your point of view, think Brexit for instance!). In...
Planning, writing-a-business-plan
SWOT Analysis / PEST Analysis Completing a SWOT / PEST analysis is a fundamental part of planning a business – remember to download our FREE planning resources which will include layouts for these documents. Just click on this link for FREE downloads! SWOT...
Planning, writing-a-business-plan
Compliance Considerations It is so important for an entrepreneur to concentrate on growing and building their business. However, to do this with no distractions, the foundations of good compliance must be in place. Food handling, food retailers or restaurants must...
Planning, writing-a-business-plan
Home or Premises The numbers of people starting business from a bedroom at home are increasing as every year goes by, facilitated by home communication and developed IT products. In Yorkshire, this tradition goes back to the Industrial Revolution where the wool...
Planning, writing-a-business-plan
Suppliers & Partners When planning your business idea, it is worth taking the time to consider who your suppliers and partners will be. This is a little more complicated than just doing a search on Google. When your business margins are tight and you aim to make a...
Planning, writing-a-business-plan
Competitor Analysis Completing ‘competitor analysis’ is a fundamental part of planning a business – remember to download our FREE planning resources which will include layouts for these documents. Just click on this link for FREE downloads! It is...
Planning, writing-a-business-plan
Pricing Your Product or Service Setting your prices at the right level requires an in-depth knowledge of your market and who you are looking to sell to. Your research on potential customers and competitors is key to getting this right. Whether it’s ‘expensive and...
Planning, writing-a-business-plan
Goal Setting There is a well used acronym to help define goals (not just business but it can also be personal or any other walk of life) known as SMART. When you are writing your business plan, you should absolutely define goals and ambitions to help you measure your...
Planning, writing-a-business-plan
Business Type & Structure You will need to elect a business type or structure for your business and getting this right is essential – making the wrong choice can change how much tax you pay and how you account for your business. Once you have completed your...
Planning, writing-a-business-plan
Naming Your Business Thinking of a good business name can be an enjoyable task. It is something you can have fun with but there is a serious consideration to be taken into account. This will be your projected image to the world and one of your primary marketing tools....
Planning, writing-a-business-plan
The One Page Business Plan Concept Condensing your full business plan into a one page plan is a great idea – remember to download our FREE planning resources which will include example layouts for these documents. Just click on this link for FREE downloads!...
business-idea, Planning
Disruption and Disruptive Business Models Harvard started lecturing on the concept of ‘disruptive innovation’ in 1995 – so this whole subject is not a new thing. In researching this article, I’ve read articles, books, papers and blogs, I’ve watched webinars and...
business-idea, Planning
I want to run a strong business but I don’t know where to begin? Here at the Yorkshire Powerhouse, we hear this comment frequently. The unfortunate truth is also disturbingly brutal … 18,000 businesses per year fail in just the Yorkshire region alone and that’s simply...
business-idea, Planning
The Essential Principles for Building a Strong Business Model Building a resilient and prosperous business requires a set of core principles that safeguard its growth and success. At Yorkshire Powerhouse, we were established with the mission to foster strong and...
business-type-structure, Planning
Limited Company Business Type / Structure Setting up a limited company involves more complexity, (although not overly difficult in real terms), but can be a much better option if certain requirements need to be met (both personal and commercial). Incorporation...
business-type-structure, Planning
Sole Trader Business Type / Structure A sole trader business does involve some financial risk as you are totally responsible for any debts the business incurs and should the business fail. You are personally liable for all debts in regard to the business and from your...
business-type-structure, Planning
Strategic Business Models One trap many new start businesses fall into is to simply start competing in an existing market in the same way that all the other competitors already do! Sure, they might be cheaper or have a slight difference with their delivery but many...
Planning, your vision and goals
How WHY POWER helps you achieve your goals The real purpose of setting goals is to give direction so that each moment of your day you live ‘on purpose’. Too many people either have no goals (and therefore wonder why they are not growing in the areas we wish to...
Planning, your vision and goals
The Wheel of Life Exercise Completing the Wheel of Life exercise is a way to review and balance 8 important areas in life, each of which elude to a ‘successful life’. In the pursuit of goals, it is mentally important to ensure that all areas of life within this wheel...
Planning, your vision and goals
Be a goal getter not a goal dreamer SMART goal setting is a globally renowned way to set goals but that really is just the tip of the iceberg. The true purpose of goal setting is to motivate a person into Goal Direct Activity. That activity repeated in the right...
Planning, your vision and goals
How your business values can help you succeed When you are setting up your business you want it to reflect what you believe as it grows – and you also want it to stand out from the crowd. Values help with both these which is why they are the foundations of a strong...
Planning
9 Key Measures for Data Protection and IT Security The definition of business assets is shifting. Physical assets such as stock, business equipment and property security remain vitally important. However, there is a growing appreciation for the fact that a business’...
Planning
Planning your marketing and writing a marketing plan Sounds like a great idea, doesn’t it? Write an effective plan that will underpin and drive your business growth! Wow, that’s quite a thing! However, what is it about this particular “thing” that makes many SMEs...
Planning
Planning Your Business Finances and Requirements Good financial planning is a vital requirement of starting a business and has complex aspects, particularly in the cash flow projections. Tax, VAT, payment terms, debt collection, projections and credit ratings amongst...
Planning
Why your new business should be customer focused When you are starting a new business, you have a lot to plan and do. You may have a new product or service which you are certain will take the market by storm, and so you focus on how to promote it. Your focus though,...
Planning
Writing a Business Plan The business plan is a means to an end. It forms a platform for the management or owner which forces them to think through all element of their business. Whilst a good business plan alone can’t guarantee success, we can confidently endorse the...
Planning
Strategic Pre-Planning Your Business Idea If you’re a small business owner-to-be, strategic pre-planning is essential for setting a strong foundation. However, it’s important to strike a balance and avoid getting stuck in a perpetual planning phase. The...
business-insurance, Planning
BREXIT and your Insurance The UKs exit from the EU and your Insurance As the BREXIT transition period ends, there will be a point where the UK leaves the EU, likely to be the 1st January 2021 depending on what agreements, if any, are made. Whilst we can deal with...
business-insurance, Planning
Cyber insurance – an overview Cyber insurance is now becoming something that most businesses are considering as the reliance on digital assets, methods of communication and flexible working practices become the norm for UK SMEs. GDPR and Covid related lockdowns have...
business-insurance, Planning
Controlling your insurance costs whilst remaining protected During a period of economic uncertainty, it’s imperative that you control your business costs. All of the textbooks and mentors tell you to cut costs and help maintain that gap between a potentially declining...
Planning, writing-a-marketing-plan
Following up on prospects This is the secret to unlocking it all – the order of events is, to create a marketing plan, make sure it aligns to the business and commercial purpose and do all the other bits we have talked about – with team buy-in you will achieve more...
Planning, writing-a-marketing-plan
Making Your First Sale Any marketing will only get you 90% of the way to a sale. You can make someone aware of your product and how good you are through your website, posters, social media, leaflets, etc but at some point, you are going to have to ‘ask for the sale’....
Planning, writing-a-marketing-plan
Communicating Your USP There’s a lot of noise out there at the moment, and you would be forgiven for thinking that the only way to market a business anymore is online or through social media. Communicating your USP can be difficult but having a unique selling point...
Planning, writing-a-marketing-plan
Defining Your Unique Selling Point If you went for a cuppa with your business – how would you describe it? What is its character? How does it present itself? Was it a nice experience? Would you do it again? Ok, so you may wonder where we are going with this? So,...
Planning, writing-a-marketing-plan
Understanding Your Customer Profile With the trend toward ‘digital business’, often your customer knows more about you than you do about them! Having a clear customer profile is an essential part of approaching your marketing in a customer-focused way. Consumers have...
Planning, writing-a-marketing-plan
Marketing Metrics – The Importance of Measurement Measuring your marketing metrics can be a challenging process but it’s never been more important to measure the performance of your efforts. This then allows you to channel your time and money to promote the methods...
Planning, writing-a-marketing-plan
Understanding the Marketing Mix We have mentioned the ‘Marketing Mix’ in a number of other articles and guides on this site but, unless you’ve received formal marketing tuition, many business owners don’t know what it is or how it should inform your thinking....
appointing-a-good-solicitor, Planning
The Importance Of Terms & Conditions Whilst understandably not the sexiest part of setting up a new business, having robust terms in place is absolutely essential when a new business begins trading and should therefore be a priority for business owners. Terms...
appointing-a-good-solicitor, Planning
An Overview Of Business Litigation Litigation in business is something that will always exist. When business contracts are entered into, a relationship is formed between parties that like another relationship, can have its ups and downs. Businesses often find...
appointing-a-good-solicitor, Planning
Comprehensive Guide to GDPR Compliance for Small Business Owners in the UK Introduction: As a small business owner in the UK, it’s essential to prioritize data protection and ensure compliance with the General Data Protection Regulation (GDPR). This guide aims...
appointing-a-good-solicitor, Planning
The Importance of Wills for Business Owners The precarious nature of the CoronaVirus pandemic has given business owners plenty to evaluate as markets and the business landscape changes. In amongst having to make various decisions about planning and strategy, the...
appointing-a-good-solicitor, Planning
Factors to consider when running a family business A family business can be a roaring success, but it’s important that they are managed constructively to keep the business healthy. The last thing a business needs is the owners to be in disagreement over a dispute....
appointing-a-good-solicitor, Planning
The 5 most common Business Compliance Issues When starting a new business, it is vital that you comply with all the appropriate regulating bodies and authorities. Whilst regulation depends upon the type of business you own, here are the 5 most common issues you need...
appointing-a-good-solicitor, Planning
The Importance Of Business Contracts Most business transactions should be easy, after all, they are a simple transaction between two willing parties. Alas, there are often disputes, even in the simplest of deals, and in the 21st-century business climate, it is not...
appointing-a-good-solicitor, Planning
How Ownership Agreements Can Help Protect Your Business Whatever the size or shape of your business, it is a legal entity and needs to be treated as such. Any business needs a structured approach that outlines the division of shares, responsibilities, the legal...
appointing-a-good-solicitor, Planning
Is It Worth Investing In A Distressed Business? In an already difficult economy, many businesses were facing a challenging 2020 even before the COVID-19 pandemic struck. This means that even if they have navigated the furlough scheme and have managed to re-open their...
financial planning, Planning
Sources of Finance You need to work out how you are going to finance your business and raise the funds to make a start. Unless you have plenty of spare cash (in the experience of Yorkshire Powerhouse this is highly unlikely!) the odds are you will be looking to use a...
financial planning, Planning
Start-up Costs Keeping start up costs to a minimum is a natural instinct. However, taking this approach can sometimes contradict activity that the business would ideally like to do in order to get the best possible start. The main thing is that you spend money on what...
financial planning, Planning
Personal Survival Budget It is always important that you establish what you want from your business in regard to your personal financial reward. As part of your initial planning for your business, you should establish what your Personal Survival Budget figure is. Do...
financial planning, Planning
Understanding Cash Flow Inside your Business and Out – Part 1: Your Business Every business needs to be effective in managing the money coming in and going out. Effectively managing cash flow forms the life blood of any business and needs to be one of the key priority...
financial planning, Planning
Do you really want to put more money into your business? Ever since the uncertainty of Brexit raised its’ head, there has been a growing trend amongst SMEs to fund requirements from cash reserves. When these are exhausted, the personal support of the owners has often...
customer-focused-new-business, Planning
Mapping Customer Journeys You have probably heard or read about the need to create a sales funnel – a series of touchpoints for potential customers to become aware of your business and eventually buy from you. However, if you just create a sales funnel you have only...
customer-focused-new-business, Planning
Customer feedback – why it matters and how to get it Someone once said that no business should have to pay for advice. When asked why they thought that, they replied “Surely business is simple, you just need to understand what your customer wants, how much they are...
customer-focused-new-business, Planning
Understanding your target market One of the hardest things for someone to do when starting a new business is to clearly define their target market. We hear “well, anyone really” or “SMEs”. That isn’t defining a target market – there are 2 parts to doing this. 1....
customer-focused-new-business, Planning
Customer Engagement – why is it important? In the Internet Age Customer Engagement is King Don’t dismiss it as just another buzzword; ‘customer engagement’ is your number one weapon when it comes to selling online. One of the biggest challenges when marketing your...
customer-focused-new-business, Planning
The 3 key elements to building employee engagement I work with many businesses who want to be customer focused. Many of them are confused when I recommend starting with their employees – until I explain why. You need to think of your employees as customers and...
it security, Planning
Working from Home? Here’s How to Keep Your Computer Healthy Recent events have served to highlight the need for a healthy computer when working from home. If we’re to perform well when working in the office, we rightly expect the best tech support and most up to date...
it security, Planning
Why Your Business Needs Cloud Back-Up We all know the feeling – that sinking, horrifying realisation that a piece of work that you’ve slaved away on for hours has vanished into the technological ether… gone for good. Nevertheless, you search frantically for it, poring...
it security, Planning
Why you absolutely need Multi Factor Authorisation! Life used to be so simple. You needed to do stuff. You typed in your username followed by your password and you were in! The world was your oyster. But with the increasingly threatening cyber environment that we live...
it security, Planning
Laptop Security – How Secure is Your Data? It is remarkable to think just how much we rely on computers in modern business operations. However, the value and sensitivity of some of the data on our computers shows to what extent we trust in the reliability and security...
it security, Planning
Are You Really Still Using Windows 7? Microsoft released its Windows 7 operating system (OS) in October 2009. At the time of release, Microsoft committed to supporting the software for 10 years. ‘Support’ relates to technical assistance in the form of Microsoft... 
