Business Plus Baby

May 30, 2013April 23, 2014

Do I need a business savings account?

So you’ve decided to go ahead and get a business bank account. Do you really need a business savings account too? It may actually be a very wise move.

Every year, many self-employed people receive a tax bill and and don’t have the money to pay it. It’s a really unpleasant situation to find yourself in, but easily prevented by putting a percentage of your income in a savings account throughout the year. It’s best to tuck this money away as soon as you’re paid and consider it the property of the tax people so you aren’t tempted to spend it!

Other reasons for having a business savings account are to help you manage your money better. For example, most self-employed people aren’t paid regularly throughout the year, so it makes sense to put the surplus from a good month in a savings account ready for those months where you don’t get paid at all. And although interest rates aren’t exactly great for savers at the moment, you’re likely to get more interest on a savings account than a business current account. Finally, if you’re saving up for a big investment such as a new piece of equipment, it makes sense to put that money in a savings account until you need it. Continue reading “Do I need a business savings account?”

May 29, 2013

How to stop being boring

Does this sound familiar? You were tired of being an employee. You wanted the freedom to do things a different way, your way.

So why is your business so…. beige?

Here are the signs…your business is professional yet forgettable. It looks like the average of all your competitors rather than standing out on its own. Your articles are useful but don’t sparkle. Your stuff is lacking in personality.

And that’s a shame, because you do have personality. Bags of it. You just need to let it show. Here’s how: Continue reading “How to stop being boring”

May 22, 2013May 24, 2013

Five ways to raise your start-up money

You can’t start a business with no money at all, but you can do a lot with just a few hundred pounds or dollars.

If you’re thinking “but I haven’t got a few hundred pounds!” then read on because I’ve got some ways you can raise your start-up funding…

1. Sell some of the unwanted stuff around your home

One of the ways you could raise some cash to fund your new business is to sell any jewellery that you have hanging around but no longer want. There are many businesses that will be happy to buy your jewellery, like this one.

Or you could sell anything else, such as toys or clothes that your children have grown out of. Try Ebay or a local Facebook swap-and-sell page.

2. Freelance

Everyone has a sellable skill – if you don’t believe me, take a look at the crazy skills people are selling on Fiverr.com! Although Fiverr wouldn’t be my top choice for making money because the pay is so low if you live in the west (its not so bad if you’re in say, India or the Phillipines) it is great for getting ideas. When you’ve worked out what you have to offer, I’d recommend setting up an account on Elance.com, ODesk.com or PeoplePerHour.com rather than Fiverr.

Do you have any self-employed friends? They might need some short-term help with something as simple as basic data-entry or mailing out some catalogues.

3. Barter

This doesn’t make you actual cash but it could save you lots of business costs, such as your website or a logo. So work out what you need and swap skills with someone else who is just starting out.

4. Family loan

If you’re very lucky you may find a family member will lend you the money you need. If you do this it’s best to put this in writing so you’re both clear about how much is being borrowed, when you’ll pay it back and any input the lender is going to have into your business. This will help prevent tension later on.

5. Spread the payments

If you can’t afford something in one payment, you could try to negotiate spreading it over (say) four monthly payments instead. That will give you time to make some money using the methods above. Don’t be shy about asking because often a business would prefer to have you on a payment plan than lose you as a customer. Check that they aren’t charging you a lot extra for this, though.

There you go, five great ways to raise a few hundred pounds (or it’s equivalent in services). What are you waiting for? 🙂

May 22, 2013May 20, 2013

Take a university course for free? Yes you can.

Just a quick post today, but it’s one that could make a big difference to your life.

These days, we don’t finish our education when we leave school or university. We need – and actually often want – to keep going back and learning at many different timers in our lives. Maybe you’ve decided to retrain since your family arrived, perhaps you’re thinking of leaving your little business and going back to your career when your kids start school or perhaps you just feel the need to exercise your brain. Whatever the reason, the internet has opened up some pretty incredible opportunities to learn.

Universities around the world are now offering courses for free at Coursera or you can check out Stanford’s online courses. Yes, they are at higher education level and yes, there is a tutor and assignments to complete. These courses are more than just a set of videos you watch alone. Pretty amazing, I think.

Harvard also offers videos of some of its courses here and so does Masachusetts Institute of Technology (there’s no tutor or assignments for these).

And if you’re wondering where the British universities are, they’ll joining in soon – see this article for more.

If you decide to sign up, please do let me know how you get on!

Don’t miss a thing here at Business Plus Baby Click here to get my newsletter and I’ll also send you a copy of my e-book Running a business around a family: 9 steps to success.

(By the way, this post doesn’t have any affiliate links and it’s not sponsored, I just think this info is so good I wanted to share it.)

May 20, 2013

Business Mums Blog Carnival for May

Got kids, a business and a blog?

Then why not join in the May Business Mums Blog Carnival?

You don’t even need to write a post for the carnival, just pick your favourite from the posts already up on your blog and send the link to the carnival host.

This month your host is Rachel at Beautiful Swans.

To enter, email the link to your post to rachel (at) beautifulswans.com by 24th May and the carnival will be published on 28th May.

If you’re not sure how it all works or what kind of post to enter, you’ll find everything you need to know on the Business Mum’s Blog Carnival page. And you can get your own blog carnival badge there too!