Business Resource Centre

Starting up a new venture and running an efficient business doesn't have to be a minefield - we've put together some answers to popular questions and advice on overcoming common issues.

Running a business effectively

• Keeping accounts - how to ensure you are keeping accurate accounts for everything from income expenditure to invoices and wages.
• Dealing with staff - how to interview for new staff, keeping your workforce happy and how to resolve conflict.
• Business expenses - you can't put everything on the company accounts - we explain the difference between allowable and non-allowable expenses.
• Improving your sales techniques - what do you need to know when selling your products and services, how do you counter objections and what exactly is an elevator pitch?
• Writing business contracts - you'll need to have various written contracts in place, from statements of employment to service level agreements. Some guidance on drawing up legal contracts for employees, customers and suppliers.
• Debt recovery - there's a range of options to combat late payers and frequent offenders but you should look at arranging conflict amicably before involving debt collectors or the courts.
• Dealing with business interruptions - it's a nightmare scenario, but if your business property is damaged or your communications systems go down, you may be unable to do business for days or even weeks. How can you plan for such and eventuality and what insurance can you take out?
• Protect your staff... and yourself - employers' liability insurance is not only a legal requirement, it can keep you in business should a member of staff have an accident and decide to make a claim against you.
• Accidents will happen - if a member of the public has an accident in your workplace, or is injured in some way that is related to your business, public liability insurance will help cover the cost of a damages payout.
• Expanding your business - if you want to grow your business it will likely involve the raising of funds against existing assets. But the first question you need to ask is whether the time is right to expand. If it is, what is the best way to go about it and what are the pitfalls to avoid?