BusinessZone
12 strange celebrity businesses
Celebrities are always looking for ways to keep the cash coming in. They never know when they'll be between projects and need to buy a helicopter or new mansion or 20-carat diamond.
To prepare for these unexpected emergencies, many stars try their hand at running a side business or two. Starting clothing lines, restaurants, and production companies are some of the most common, but other celebrities think outside of the box. Way outside of the box. These 12 bigshots got into some industries that don't exactly fit their famous personalities or the demands of consumers.
Why sticking together might help you stick at it
Nick Giles, who started his company with a friend two years ago, explains how going into business with someone else can be a powerful driver behind entrepreneurial success.
According to a new report from the insurance company Aviva, one in four of the UK’s entrepreneurs are about to throw in the towel. The poll asked: "How do you feel about running a company in the current tough economic climate?" One in four agreed with the statement: "I am actively considering returning to work as an employee." A third said they had lost enthusiasm for their business, while half said it is “too tough to be a business owner in the current climate.”
While these are undoubtedly tough economic times, these numbers imply that more than a million of the UK's four million small business owners are ready to pack up and go back into employment.
That is a statistic that I find hard to believe however difficult the current economic conditions, not least because of the personal motivations that are involved in setting up a business but also the satisfaction of running something of your own.
Five ways to squeeze every penny out of your website
Any small business relying on a good search engine position to succeed will know that getting to the top of the Google tree is a real challenge - for many it’s a preoccupation, for others it seems like a distant ambition. Yet whatever the skills and resources we have to throw at our search strategies, we all get traffic - but very few of us make as much money out of our site visitors as we could.
Video: Why venture capital can destroy a business and the secrets behind Silicon Valley's success
David Richards is a successful British serial software entrepreneur based in Silicon Valley in the US. His latest company, WANdisco, provides software that is used by thousands of blue chip corporates. In a revealing interview with Dan Martin, Richards explains the secrets behind the success of Silicon Valley (video four), why he believes venture capital can destroy a business (video three) and what he thinks of the UK's efforts to create a British version of the Valley (video five).
1. Tell us about your entrepreneurial journey.
2. What have been your key business challenges?
3. Why is your current company not venture capital backed?
An entrepreneur's guide to social media (part two): How to identify your social media goals
In part two of a series of seven articles on social media skills, Colette Mason looks at the four big questions that need answering in order to identify your social media goals.
In part one of my series on social media skills, I looked at how to get started. In part two, we’re going to examine the four big questions you need to answer.
- Who are you going to connect with?
- Where are they to be found online?
- Why do you want to connect with them?
- Why would other people want to connect with you?
Prospects
Look for people with common interests to your target market and start interacting online in those circles - for example:
10 strategies to achieve your business breakthrough: Part two
In the second of four articles, Dan Sullivan, founder and president of entrepreneurial coaching company, Strategic Coach, reveals the key strategies that enable business owners to break free from the complexities which limit the growth of their company. To read part one in the series, click here.
Plumbing and carpentry will save 'rotten' education system, says entrepreneur
As the government today announced it will axe subjects such as nail technology and horse care from school league tables, one entrepreneur has called for greater recognition of traditional trades.
More than 3,100 vocational qualifications regarded as equivalent to GCSEs are to be cut out of the school league tables, ministers said.
According to the government, the inclusion of such qualifications, which also includes fish husbandry and travel and tourism, has caused "perverse incentives" for schools to count them towards their legal table results.
The changes follow last year's government-backed review of the vocational training system by Professor Alison Wolf, who said performance tables encouraged schools to offer "inadequate qualifications".
Government delays auto-enrolment pension scheme for small firms
The government has further delayed the date from when small firms must begin automatically signing employees up to company pension schemes.
Work and pensions minister Steve Webb gave businesses with less than 250 employees new start dates for automatic enrolment, according to a timetable published on the Department for Work and Pensions website.
Under the new legislation, staff will be automatically enrolled into their employer's existing pensions scheme or a government-backed scheme, such as the National Employment Savings Trust, unless they opt out.
Firms with between 50 and 249 employees will start auto-enrolling staff between 1 April 2014 and 1 April 2015 – a year later than planned – and the smallest of employers with fewer than 50 staff will not have to do so until two years later, from 1 April 2017.
Why the new Cooperatives Bill is an historic decision
Linzi Nedoszytko, from Co-operatives UK, reflects on the government’s introduction of a new Bill to tackle red tape suffered by co-operative businesses.
Salesforce targets small firms with new social service platform
Cloud Computing provider Salesforce.com is setting its sights on small and medium sized businesses with the launch of its new social media customer service dashboard, Desk.com.
'Odd jobbers' with no business ambitions responsible for self-employment growth
While the most recent employment figures show self-employment is on the rise, a new study questions whether this marks a resurgence in British enterprise culture.
According to figures from the Office for National Statistics, 101,000 people joined the self-employed community in the three months to November 2010, taking the total number to reach 4.12m.
However, a study by the Chartered Institute of Personnel and Development (CIPD) claimed that the growing number of self-employed are "an army of part time odd jobbers" desperate for work. Most are not looking to make a long-term commitment and likely to take a job with an employer if they found one.
According to the report, skilled tradesmen, or 'white van men' still account for the biggest total of self employed at almost 30%.
Builders 'most likely' to botch up tax returns
Builders, taxi drivers and contractors struggle most with their tax returns, according to accountants.
In a survey by Bloomsbury Professional, a third of those questioned regarded builders as most likely to provide incorrect information.
Accountants labelled the construction industry as high risk due to frequent use of cash payments and poor bookkeeping.
Taxi drivers were regarded as the second most likely to provide incorrect information, with personal service company contractors, such as IT consultants, in third place.
At the other end of the scale, only 2% of those surveyed said shopkeepers would submit incorrect returns.
Martin Casimir, of Bloomsbury Professional, said: "Perhaps more than any other trade, builders frequently deal with quite large sums of cash. This makes accurate recordkeeping challenging and creates numerous opportunities for tax evasion.
"Cash-in-hand with the promise of no VAT is still incredibly common. With VAT now at 20%, the incentive for cash payments is greater than ever.
I'd abandon an independent Scotland, says Scottish bra entrepreneur
One of Britain's most successful female business owners has threatened to move her company from Scotland if the country gains independence.
Michelle Mone, founder of underwear brand Ultimo, said Scotland would be unable to sustain itself if it was not part of the UK.
"I am so passionate for Scotland but I have to say that if we do become independent, I will move," she told the Sunday Times. "I don't think we can survive on her own and I think it would be really bad for business."
Mone, whose Glasgow-based company MJM International turned over £42m last year, also criticised members of the Scottish politicians who are calling for independence.
"Would you trust them to run Scotland as a business? No, is the answer", she told the newspaper. "All they do is fight in parliament with their big egos. I would never trust any of them."
Following the publication of her comments, some Twitter users accused Mone of staging a PR stunt.
Infographic: Small business social media cheat sheet
It's no longer enough for small businesses to just have a website; they must also have a social media presence. Don't know where to start? This cheat sheet by Flowtown will help you navigate the major social networks on the web. Click on the image for a larger version. You may need to zoom in using your mouse.
For more business-related infographics, click here
Scrap metal clampdown 'will put small firms out of business'
An industry leader has warned that the government's plan to ban scrap metal cash payments will drive many small firms to insolvency.
Ian Hetherington of the British Metals Recycling Association was responding to new government proposals aimed at making cash payments for scrap metal illegal with the stealing of scrap metal leading to unlimited fines.
Is the 'Business In You' campaign about everyone starting a business? Intuit responds
The government's 'Business In You' campaign, which claims "there's a business in everyone", has caused controversy with many entrepreneurs saying not anyone can run a business. Pernille Brunn-Jensen, managing director, Global Small Business at Intuit UK, one of the campaign supporters, responds.
Lessons from a recession veteran: Why hired help will keep your business on track
It is possible, even desirable, to start up in tough times, but your chances of success increase if you are prepared to listen to those who’ve been there before and survived. StinkyInk.com's John Sollars is in his second recession and his third business; the first two failed but the third is thriving.
In a series of articles, the entrepreneur highlights the lessons he has learnt. The first focused on cashflow, the second gave advice on understanding profit and the third looked at recruitment. In the fourth piece below, Sollars covers outsourcing.
From computers to couture: Jose Neves on raising $23m in business funding
Serial fashion entrepreneur Jose Neves explains how he secured a total $23m investment over 15 months to create one of the fastest growing online market places for independant retailers.
José Neves started his first business whilst studying economics at university. An early interest in computer programming, he founded software company Grey Matter and began building his first business, not knowing this would later incorporate his second interest: fashion.
Fashion empire
Heavily influenced by the booming shoe and textile scene near his home in Portugal, Neves began designing shoes. His designs proved popular and in 1996 he launched shoe brand Swear in London, his second venture.
Self Assessment deadline extended for two days
HM Revenue & Customs (HMRC) has extended the 31 January deadline for online tax return submissions until the 2 February, due to its expected call centre strike.
As reported earlier today, a large majority of HMRC's call centre staff are expected to strike on 31 January, which will affect the 90,000 people that typically call the helpline on deadline day for assistance.
HMRC acknowledged that this will delay some submissions until after the deadline and confirmed today that anyone submitting a return on the 1 or 2 February will not be issued an automatic £100 late penalty fine.
David Gauke, exchequer secretary to the Treasury, said: "This strike could have caused thousands of people to incur fines, so I am pleased that HMRC has taken this common sense approach.
"The government does not want anyone trying to file their tax return on time to be unfairly penalised because they were unable to get through for help and advice on the 31st."
Lord Young: One million jobless young people is one million new business opportunities
Entrepreneurship is one solution to Britain's unemployment problems, a former business secretary has claimed.
Speaking at the launch of StartUp Britain's new small business events calendar, Lord Young said: "One million young people out of work is one million opportunities to start a business."
The peer, who is an enterprise advisor to prime minister David Cameron, said that in the 10 years from 1979 and 1989, when he was a minister, "the UK went from the sixth strongest economy in Europe to a leading economy for one reason; startups".
Continuing his speech at the Department for Business, Innovation and Skills, Lord Young revealed that the government will be launching new initiatives over the coming weeks which "will accelerate the process of working for yourself".
