“Fewer companies in Rugby closed in 2012 than 2011 – but there has [...]]]> Do you run, or know of anyone operating a business in Rugby? If so there is some good news, it seems business may be picking up. There has been fewer business closures in Rugby than previously recorded as a recent report states:

“Fewer companies in Rugby closed in 2012 than 2011 – but there has also been a decline in the number of new businesses.

A total of 424 companies were dissolved in Rugby in 2012. The total is 7.8 per cent lower than in 2011, but compares unfavourably with the UK figure of a 6.6 per cent decrease compared to the previous year.

Meanwhile, 642 companies were formed in Rugby last year. The total is 2.9 per cent lower than in 2011 and is lower than the UK figure of an 8.6 per cent growth.

The figures come from ‘business formation agents’ duport.co.uk – and managing director Peter Valaitis believes they give grounds for optimism. He said: “Rugby suffered at the height of the recession. However, it’s good to see that new companies continue to be set up.”

The above excerpt from: http://www.rugbyadvertiser.co.uk/

In a time when a lot of the news feeds begin with the words ‘Triple dip recession’ it’s nice to find the silver lining in the storm clouds. While the report on Rugby still shows that there are numerous closures occurring it is nice to recognise that the rate at which those closures are happening is easing off.

Sadly the number of new businesses is lower also, but it is still prudent to realise that times are hard, and even despite the governments steps to reinvigorate business through adequate business loans, the banks are still hesitant to properly back small businesses, the Federation of Small Business (FSB) has made many angry noises but the banks themselves still defend their position.

If you are running a business and fear you may be faced with closure, discover how Forbes Burton ¦ How To Close Company can help you move forward. It takes only a moment of your time to call us and learn more.

HMRC are too often billed as the ‘bad guy’ but they are doing their best to make lives easier as well. If you’re in business and perhaps you’re among those that aren’t quite sure what HMRC does for you and what you [...]]]> Just a quick bit of information being passed out to those that may want or need it.

HMRC are too often billed as the ‘bad guy’ but they are doing their best to make lives easier as well. If you’re in business and perhaps you’re among those that aren’t quite sure what HMRC does for you and what you need do for them, perhaps you could catch up with the HMRC charter that they provide.

Click Here to read more on their website

Direct download link:

If you just want to get your hands on the charter, you can do so through the download button below.

There is no reason that as a business owner you cannot properly tackle the responsibilities such as how to handle your businesses tax situation. One of the single most common things we see when handling a client closing a business because of ‘problems’ is that they have simply overlooked their tax obligation which quickly spirals out of control.

Don’t let your business fall foul of such easily avoidable mistakes, take just a moment to familiarise yourself with the literature from HMRC.

As always, If you think you might be ins a situation in which you need to think about closing a business, you can benefit from some impartial just by getting in touch with Forbes Burton.

]]> http://www.howtoclosecompany.co.uk/hmrc-helping-heres-how/feed/ 0 http://www.howtoclosecompany.co.uk/solving-business-problems/?utm_source=rss&utm_medium=rss&utm_campaign=solving-business-problems http://www.howtoclosecompany.co.uk/solving-business-problems/#comments Thu, 18 Apr 2013 08:30:04 +0000 Jemma Corrigan http://www.howtoclosecompany.co.uk/?p=1352 We’ve previously discussed what problems business owners can be faced with, we’ve also addressed how to look at how problems can be reversed into opportunity but how about actually dealing with problems?

The reason to be in business is [...]]]> We’ve previously discussed what problems business owners can be faced with, we’ve also addressed how to look at how problems can be reversed into opportunity but how about actually dealing with problems?

The reason to be in business is to produce income, be it a service or selling product all that is required is the ability to make a financially viable business, one which produces money on which we can live our lives. A lot of small business owners don’t have the resources to face their problems head on, but a good number may not realise what resource is available.

If you operate a business either as a sole trader, or even perhaps as a small company it’s fair to say you invest a lot of yourself into the company, you spend time and effort to make it work, but then something rears its head which was either unexpected or is a challenge to help the business move forward.

How to face your challenges

Take Ownership – Be in Control.

Whatever it is that you are presented with it is key to be proactive, find how you can control even a part of the problem. Becoming a victim of circumstance will demoralise you and leave you feeling like you’re being overwhelmed, take a step back to look at it, then use what skills you have to address the parts you can address, call in the reinforcements to tackle the parts you cannot handle. Even if things deteriorate, you can proudly say you did what you could.

Different Perspective

As mentioned above, try to take a step away from the problem, look at the causes and at the effects. Ask for the input of someone unrelated to the business – or find free advice from professional bodies. Becoming blinkered by your own anxiety can box you in and lead to a situation which is untenable. Seeking to see the problem through other eyes can open up previously unseen solutions and help expand the way you think.

Use The Work Of Others!

Not in the literal sense. Whatever you are faced with, many others have been through it. Some succeed, some fail. Look at what they had done and follow the winning examples. It is vital to have a wide network of contacts so you can easily pull in such knowledge. Even if that means a pint down the pub with the butcher or a coffee at lunch with a clerk from the local solicitors. People all have their own experiences and can be invaluable as reference for whatever you face.

You Own The Business, The Business Is Not You.

It’s too easy to become emotionally tied to a business, especially if you’ve worked long and hard to bring about your vision. In a time of crisis however you must be sure to realise that it is a ‘thing’ that you own, and if that thing starts to affect you personally, causing anxiety, depression of stress then you should immediately seek the advice of those in your network, be prepared to take radical steps, ones which you may feel bad about but are probably necessary.

Worst Case Scenario?

Even if the very worst happens to your business, realise that it is not the end of all things. Understand that if the business is faced with insurmountable issues and you have done all you can to solve them and things still aren’t any better, the end of a business is a page turning, not the book closing. Even If you have to turn the page there is support available to you in every respect. A declining business is not a reflection of your ability or willingness.

I hope these few pointers go some way to keeping your business moving, but above all you must realise there are people that actively want to help you and your business succeed, it takes a little work to find them, but it can be the difference between a continuing successful business and one faced with having to close down. Do all you can to succeed.

After the comments made by a sole trader (Mr David Bennett) who [...]]]> Is the reality of setting up your own business even worthwhile when persons within the UK government make comments which only highlight how hard life can be for sole traders or those that choose to make a living off of their own work.

After the comments made by a sole trader (Mr David Bennett) who operates a market stall to earn money he desperately needs to survive, Ian Duncan Smith (of the Department for Work & Pensions) passed a flippant remark that intoned it would be easy to live on just £7.50 a day.

An honest businessman who seeks to operate within the bounds of the regulations set in place by the government, one who has to rely on benefits to ensure a roof and food. Despite his own attempts to earn money has seemingly been belittled by the very person who heads the regulations that he must live by.

David Bennett:
_”I’ve been punished for trying to do the right thing, setting up my own business and looking after my kids… So much for David Cameron’s Big Society.”_

In response a petition was started asking that Ian Duncan Smith prove his words, what happened next was the power of social media, as thousands of people signed their name calling the minister out.

Among other changes to welfare and tax that affect working families are more cuts being brought into force.Council tax benefit funding cut, and working-age benefits and tax credit rises pegged at 1 per cent – well below inflation – for three years.

For persons such as Mr Bennett, the benefits system is a hindrance to an already problem filled working life. Mr Bennett points out that after all the sums are done he took a wage of £2700 for a year in which he would often spend 50 to 70 hours working in a week.

Even when his business did pick up and he began to take more money, the DWP then were kind enough to point out that his rising income meant even less access to benefits, effectively his hard work and effort caused him more hassle than financial gain – working harder to get less.

George Osborne MP (Chancellor of the Exchequer) had this to say:

“What this Government is trying to do is to put things right. We’re trying to make the system fair on people like you, who get up, go to work, and expect your taxes to be spent wisely.”

Kind words, but of little relief to people like Mr Bennett. The system needs addressing, every day hard working people see themselves short changed or overlooked. In times such as these where the country is marred by triple-dip recession business is hard enough without having to fight the government to stay above the bread-line.

But no matter which big-brand name throws their weight into the fight for [...]]]> So, is it all doom and gloom? It really depends who you ask, recently Tesco’s of all people decided to champion high street retailers’ despite their tendency to open edge-of-town superstores they’ve stated “Vibrant high streets are in everyone’s interests, including ours,”

But no matter which big-brand name throws their weight into the fight for keeping our town centres shops open, Stores are simply vanishing from high streets across the UK. Right now it’s pretty much the worst case scenario. Multiple national level retailers have closed their doors over the recent months, and if the big boys start to fall it’s probably a good indicator of things.

The details behind it all suggest that retailers with more than six stores nation-wide are collectively closing an effective 30 shops every day and that even takes into consideration of shops which open for trade. Several data sources which track retailers have pointed out that the situation recently is a continuing downward trend, even compared to the worst months of 2012 (some details can be found via localdatacompany.com)

2013 started not with a bang, but a groan. A collective groan as thousands face redundancy with the ever increasing number of major employers which continue to die off, such as HMV or Republic the state of the high street has caused tens of thousands of people to become unemployed, even comparing this to the fall of Comet which cost six thousand jobs, the high street is haemorrhaging a workforce at an unbelievable rate.

With news that the UK is all but set to endure triple dip recession times are hard and getting harder for retailers and not just big name stores, the figures also include vast numbers of independent retailers, there is an ever increasing trend of empty stores, and now fewer and fewer businesses to repopulate them.

“It’s likely to get worse … The writing is on the wall.”

- Matthew Hopkinson, Local Data Company.

Let’s veer away from the details of businesses and companies for just a moment, let’s take some pointers for what it really boils down to – the people that are affected. The facts are depressing but the number of employees affected by business closure, compared to previous years:
- in 2012: 45,142
- in 2011: 24,025

in the first quarter of 2013 we’ve already seen 17,334 affected, that’s just the first few months of the year, for better comparison let’s break down to the average quarterly detail of the previous years:
- in 2012: 11,286
- in 2011: 6,006

That means that this years’ figures show nearly double the amount of people that are affected by the ever decreasing number of stores.

It’s not all terrible news however, if you’re running a coffee shop, likelihood is that 2013 will be kind to you, similarly low-ticket or pound-shop retailers have seen some positive impact as people continue to tighten purse strings and unsurprisingly supermarkets are doing well, remember how Tesco have all but vowed to help keep the high street alive? Seems like it may not ‘be in their best interest’ despite their brave quotes.

If anything is causing you concern about the future of your business, please remember How to Close a Company offers completely free advice – you just have to call us, 0845 409 4471 and If you do need our service, it is far better to act sooner rather than later you stand to save a lot of time and avoid a lot of stress if you deal with a business closure head on rather than letting it escalate until the situation becomes untenable.