Business Planning

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What Does Negative Interest Rates Mean for Business?

For the first time in 326 years since it was established, the central bank of the United Kingdom, the Bank of England is considering implementing negative interest rates. Following central banks around Europe such as in Germany and Switzerland, the Bank of England said that it is actively reviewing this strategy in hopes of injecting …

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The Growth of the UK Shadow Economy

Contributing to 10% of the United Kingdom’s gross domestic product, the shadow economy is poised to continue growing as the business landscape changes worldwide. With the accelerated growth of the Internet in terms of strength, scope and features, the gig economy has been continuously gaining ground. That is only part of the whole shadow economy; …

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What Does It Mean When the Pound £ Weakens

A weakening sterling pound against foreign currencies spells various effects on various sectors. Generally, a weak pound is not a good sign, especially if you look at it long term. It translates to a lack of trust in the nation and a poor performance globally. However, on a short-term perspective, it can have quite a …

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What Impact Does Rising Unemployment Have For My Business?

It wasn’t too long ago when we were all asking for long weekends, a longer holiday, or just one whole day of sleep. Little did we know that the year 2020 will grant our wishes a little too literally. Take backs, anyone? The first half of this year is beyond crazy. Nobody knew what was …

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Key Numbers To Be Monitoring In Your Business

One of the biggest challenges of running your own business is keeping off the “red.” This struggle is particularly evident in startup companies as new proprietors are likely to expend a whole lot of effort trying to stay afloat during the introductory phase of their business. Running an entire operation when you’re still in the …

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In Recessions There are Always Winners – How to Become a Winning Business in a Recession

The Coronavirus pandemic spares no one; everybody is affected one way or another. In the business world, it has caused distress and finally tipped the prolonged overdue recession that’s been looming in the past years. Following the 2008 recession, economists have been inferring that we have been on the brink of a recession. If you’ve …

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What Does A Shrinking Economy Mean?

The first two quarters of the year 2020 have been erratic. With the biggest health crisis of the decade threatening the welfare of people all over the globe, world leaders and local authorities are pressed to think of feasible countermeasures fast. After all, humanity’s fate rides on the actions we take at this critical time. …

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10 Tips on How to Manage Your Money in a Recession

We are at the beginning of the most significant recession ever to hit the nation and the world. As mentioned in Episode 94 of Uncover Wealth Radio, it’s a deep U-shaped recession. The Coronavirus crisis has stripped us of our capacities to work and make money, and the global economy is taking the blow. Experts can only …

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The 7 Biggest Pricing Mistakes You Can Easily Avoid

Pricing is the strongest weapon that you can wield for better profits. Research has shown that it has the most significant effect on a company’s bottom line. A percent of increase or decrease in the price can affect its operating profit by as high as 11%, while cost-cutting by the same 1% has a meagre …

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5 Mistakes Most Small Business Owners Make and How to Fix Them: Run a Successful Business

It takes guts to start a small business. Not everyone is cut out to be an entrepreneur. Even those with entrepreneurial drive hesitate to launch a business, and for a good reason. Statistics show that 7 out of 10 businesses fail within five years, with two of them failing within their first year, and five …

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