Starting a new business is always a great idea. Many people dreamed of owning their own businesses; to finally escape the vicious cycle of the 9 to 5. In fact, most employees these days do not envision themselves spending all their productive years working for big corporations. Most of them hope that, at some point, …
A lot of nitty-gritty goes into putting a product or service into the market. There are research and development, production, and marketing as well as value based pricing. But all those are just the tip of the iceberg. Behind those major milestones are innumerable tasks that require time and resources. Naturally, businesses would like to …
Being furloughed, especially during the COVID-19 pandemic, can be tough. The good thing about it is that you don’t really lose your job, so it is a relief to know you have a company to return to after the furlough period. However, being on furlough also mean you don’t really earn much either. This is …
I bet all of you will agree with me when I say that people generally like the word free. When an evening concert has free admission, more attendees will turn up that night. When an art exhibit offers free entrance or viewing, even people who are new to art will not hesitate to go. After all, something …
Because developing an app takes a lot of time and money, it is justifiable for app owners to monetize their apps in different ways to pay for their development costs. Charging for the app is risky, especially in the cases of startups, since most users won’t spend money on an unfamiliar download. This is where …
The UK economy is, without doubt, struggling due to the backlash of the extended Coronavirus lockdown period. Just March of this year, an estimated 21,000 more businesses have filed for bankruptcy than March of last year. While some argue that these businesses would have failed with or without the emergence of COVID-19, experts believe that the global …
Just like any business, an owner should be attentive and responsive to changes in inflation. When inflation is high, businesses have to spend more on production and profitability falls. This will force them to increase prices in goods and services. In this case, it will be better for a business to increase prices gradually, instead …
Hiring one or more talents could be one of the most challenging decisions a business owner has to make from time to time. However, it doesn’t have to be. As long as you are clear on your current financial position, the vision you have for your business, and the future financial projections, you will be …
It seems like employers’ happy days are over with Rishi Sunak’s latest announcement. When job retention and business loan support schemes were first announced, owners and employers have been able to let out a long, deep sigh – not because of disappointment but because of relief. With the Coronavirus making its presence painstakingly known with each positive case …
Part of being an entrepreneur is the willingness to take risks. During a recession, the mere thought of starting a business–putting out the money in an attempt to generate more–is a high risk in and of itself. However, it isn’t entirely implausible to start one that has a chance of success. Some businesses can thrive …
