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Are you good to start your new digital journey?You have already decided to undertake a business project and believe that the digital platform offers the best possibilities for your project. Once you have defined your business model, what are the next steps?Here we discuss the keys that every entrepreneur should keep in mind to start and consolidate its digital business.

• Innovate, but do not venture too far 'out there'

In a highly competitive environment like this, it might seem that innovation is the ultimate goal of any product or service. However, every innovation should start from a real market need. Take for example, a company aiming to meet the high demand for wedding tables of virtual gifts, but who choose to put a spin on their project: Instead, they base it on a model of crowdfunding, or collective financing. Thus, the guests bring a certain amount of money, and at the end of the collection, the couple receives cash instead of gifts. Many brides or grooms do not like the idea of asking for money from guests and prefer to do it through a website that disguises the situation. That's where the real innovation lies.

• Find Funding

Starting a business, albeit through a digital medium, can be a strong investment that includes software development, site design, promotional campaigns on social networks, formation expenses, and hosting. There are currently several options for funding for technology start-ups, including crowdfunding and Venture Capital.

• Attend events as they cross your path

For financial support, creators are recommended to attend partnerships that invest in similar start-up industries. Here you can meet up with representatives and begin to go to other relevant networking events organised in several cities across the UK. You never know who might be interested in your project and potentially provide you with funding for your marketing campaign as well as support for the design of your site.

• Promote yourself with friends, family and everyone you know

At first, a digital business must earn the trust of the people, and this is only possible through word of mouth.At the dawn of a project, friends and family will play a very important role: they will test your product or service, you will be offered feedback, and if they are satisfied with the result, they will share with their own circle. Thus, they will become your main promotional vehicle.In launching your website, you can offer promotions to your friends. They then can recommend the service to their own friends and gradually widen the circle.

• Remove the idea that everyone will do everything

Of course, there must be a definition of roles. At first, it is more likely that all team members have to do everything—solve technical issues, oversee accounting matters, answer emails, attend events, and deal with customers.At this stage, the small amount of partners still do everything. But the idea is that as the project takes shape, you can distribute responsibilities.

• Hire an accountant

Save money whenever possible, but never in administrative matters. It is the foundation of any business, and if not handled with all the care it deserves, could bring down the whole project. If you have no knowledge of accounting, hire an accountant to keep a thorough check of the revenues and expenditures of the company, as well as tax payments.

• Earn the trust of the people

This is one of the great challenges of the emerging business and especially of technology start-ups. Most consumers trust department stores and established businesses. Why would they give their money to a stranger? The strategy is, again, going to family and friends to recommend the business, thus forming a chain of trust.

• Looking closeness with your customers

A digital business requires a large investment of time and effort to build a close relationship with customers. It is important that, while face to face is never seen, you make them feel that behind the screen there are people of flesh and blood. Find a way to personalise the experience of your website to give them confidence in your brand.

• Lean on digital tools

One of the great benefits of digital business is that can be managed from anywhere. It can also be a double-edged sword if you are not well organised with tasks and not communicating with the rest of the team.Digital tools are a must for every entrepreneur who works from home. What are the basics? Dropbox for file sharing, Evernote to organise your tasks, and Slack to keep in touch are all very good starters.

• Forms partnerships with affiliates in your area

Detect the authorities of your country, the so-called influencers, and approach them to establish alliances and expand the prestige of your brand. Perhaps create an affiliate program that benefits both parties. Contact all those associated with your area of industry —in short, people who are in the middle—and offer them to work for you. Give them a code and, if they recommend you to their clients, give them a percentage of profits. So everyone wins.

Only the owners of a company limited by shares are legally allowed to remove profits made by the business.Even after this, certain steps must be followed. This is because of the separate legal identity of companies limited by shares. This implies that unless the profits are disbursed to shareholders and directors, the money belongs to the company.You can remove all company gains as pay for director; however, it is smarter tax-wise to take out smaller pays and make up whatever remains of your wage as shareholder profits. The most ideal approach to do this is to take a pay up to your Personal Allowance, which is free from taxation. This will likewise guarantee you save your entitlement to state benefits and pension.You can offer profits to yourself, based on pro-rata in connection to the rate of organisation shares you possess, whether that is full, half or any percentage. This can be carried out as much as needed, so far the firm still has enough held-up post-tax net income. On the off chance that there are no remaining profits after settling these bills, you can't share out profits in form of dividends. If this is disregarded and you go ahead to issue out dividends, you could attract serious legal action from the HMRC. On the other hand, even if your company is experiencing a loss in its business transactions, you could still pay salaries because this is regarded as an expense an must be settled.

Step 1: Declaring dividends

The balance sheet has to be printed out, covering periods from when the interests will be disbursed.Dividends come in 2 forms – interim and final. Interim refers to the dividends that are to be settled at intervals and this is done all through the year. Note that it is dependent on whether the company has profits or dividends to be distributed. On the other hand, final dividend refers to the profits disbursed on a yearly basis. Both must be paid at a period that doesn’t exceed nine months after the company closes it’s annual books. This date is popularly referred to as Accounting Reference Date (ARD).Organisation executives must hold an executive meeting to authoritatively "announce" interim profits. This must be done, even if you alone are the shareholder and director of the company – it appears to be completely irrational; however, it is a legal obligation that must be done.Shareholders must pass an ordinary resolution in writing or at a general meeting to show their consent, before the final dividend is issued.It is advisable to have a copy of profit and loss records as well as the balance sheet for the period for which the dividend is to be shared. This will guarantee that profit disbursement doesn’t go beyond the profit made by the company.

Step 2: Working out dividend payments

The gross profit is the whole you will incorporate into your Self-Assessment tax returns.In the event that your organisation has any extra gains after settling liabilities, expenses and taxes, you are permitted to issue these profits to shareholders based on their rate of shares possession.For instance, if you own half of the shares of your firm, you are entitled to half of the profits made. If £2,000 was made as profit by your company, you are entitled to £1,000.A 10% notional tax is applicable to this dividend because 20% of the profits must have been deducted as corporation tax. This gross dividend will then be reported self-assessment every year, notwithstanding your wage as a director as well as any other sort of income.To compute the tax payable on profits, you are to find the product of 0.9 and your net income. This will then equate to the gross income, credit tax of 10% inclusive. Your Self-Assessment tax return will include this gross profit. It is from this that personal tax liability and aggregate yearly income can be calculated.Case study: a gross dividend of £1,111.11 is gotten by computing the net profit of 0.9 x £1,000 (10% tax credit equates £11). You will get net £1,000 profit from the organisation, yet this will be equal to £1,111.11 when you are working out your yearly tax obligation to cover the organisation has officially paid on these money. You will be taxed 2 times if the notional tax credit is disregarded. Firstly as corporation tax and secondly as Income Tax.

Step 3: Issuing dividend vouchers

A profit voucher is a receipt that gives the critical insights about the profit.For every profit an organisation shares, a profit voucher must be made and offered to the shareholder. This voucher is in some cases called 'dividend counterfoil'. It is not an uncommon sort of document, it’s essentially a sheet of paper or an e-document usually pegged with electronic mails. This document contains information about profits such as:

• Company name
• Registration number of the details.
• Issuance Date
• Name and address of receiving shareholder
• Class of Share
• The figure of the dividend being received by the shareholder
• Tax credit figure
• Authorising officer’s signature

How often can I issue dividends?

You can issue profits as often as you want: every day, week after week, month to month or yearly.You can offer profits as frequently as you want – day by day, week by week, month to month, bi-monthly, quarterly, bi-yearly, or every year – so far the organisation has adequate held-up profits to do such. Because of the required paperwork for the profits, interim dividends are often recommended by most accountants because the records will be easier to maintain; more so, because it coincides with VAT payments. You must understand that you can issue it every week if you are cut out for the work involved.Then again, you may feel the need to issue profits on a yearly basis at the conclusion of each tax year or sporadically all through the tax year just when your organisation gains a specific level. It's totally at your digression.Profits give an amazing chance for efficient planning of tax. You can defer the sharing of profit to the next year, which is helpful on the off chance that you need to keep your wage inside of the essential tax rate, or you intend work for one year and take time off the next year.

You have an idea that excites you?

You've talked to friends and family, and you're even thinking about the possibility of quitting your job to become an entrepreneur. You are about to establish your company, but you need to achieve success with capital. You cannot invest all the money yourself.Your natural inclination is to go out and seek funding as quickly as possible to take advantage of the momentum of your business. That level of passion and enthusiasm is admirable, but if you start looking for financing before you are ready, you could waste time and become disappointed.Before seeking financing, either by an angel investor, venture capital, or platform crowdfunding, you should make sure you meet the following requirements.

• Have a complete business plan

This is the first item on the list because it is by far the most important. Without a business plan, you cannot have a business. It is the foundation on which your company must be based. You can have multiple points that will list below, but the important thing is to present a summary of what your business and how you plan to make money with it.

• Market research

This is the verifiable information that demonstrates the validity of your idea. Without it, your concept can only be good in theory. You may have to pay for this information or do research yourself, but you need a real number based to meet your growth potential.

• Financial Models

This should be a natural part of your business plan, so you should not underestimate the level of detail that some investors require in this section. You need spreadsheets with projected costs, acquisitions, profit margins, growth rates, and payback time. This is proof that your business actually can make money.

• Plans for one, three and five years

Do not focus exclusively on how to start a business. You need to project what growth in the early years. Most investors seek long-term solutions.

• Leads

Market research must prove that there is a theoretical customer base for your idea, but potential consumers move you toward financing. Investors are more interested in your product or service if you can gather several testimonies from prototype customers.

• Real Skill

You also need to make sure you can personally handle the early growth of your business. It's okay if you have industry experience, but if you're new, you should be sure to receive the necessary training. Study and prepare.

• Investment exciting

Potential investors like when you yourself have invested your business. Gather some money from your savings and recruit your family and friends to show investors that you already have some financial support.

• A mark

Typically, your brand must market your business before financing. However, a strong brand can sell the potential and character of your business. It is a demonstration of identity that can help present your idea.

• A goal

Before leaving to seek financing, you need to know exactly how much money you need and why. There is a big difference between saying, "I need money for my idea," and, "I need £4,000 for equipment, £1,000 for marketing and £2,000 for the first batch of products." The second idea shows a plan that you know exactly where the money will go.

• Reward

Last but not least, you must have a clear idea of when participants could expect a return on their investment. For platform crowdfunding, it can mean examples of products or rewards for different levels of investment.No matter if you need a point or two on the list, make sure you have most of these requirements before leaving to seek financing. If your idea resonates with people, you will have no problem getting the capital you need.

10 Strong Businesses in Economic Crises

I do not want to be alarmist, but even a stable economy may face times of lean. The world is surfing great uncertainties in this area today.The truth is that real entrepreneurs do not fear changing economic situations. However, they should be more careful when choosing their type of businesses. Constant consumption usually better withstands financial shock during a recession.Here's a list of industries and businesses that you can consider.

• Alcohol

Most companies built around beer and wine can avoid moments of crisis. The most expensive drinks tend to suffer, but the average price of spirits remains.This is due to a basic principle: people do not leave a real habit only because the outlook has darkened. If they really like, they will continue watching football with a cold beer. Consider a convenience store or a distributor.

• Cosmetics

It is much easier to enter the beauty industry than to sell alcohol. When the going gets tough, makeup may encourage many people. No matter what the reason, cosmetics support recessions well. There are many ways to get into the business, from distribution catalogues like Mary Kay or selling products online.

• Cinemas

Movie tickets tend to thrive in hard times. It is difficult to compete with large chains, as they have the rights to the most important premieres, but why not consider a room specialising in independent films that combines them with dinner? This can be successful in a small town.

• Healthcare

Healthcare is an industry that is very difficult to get into. However, it is also true that the Baby Boomers are nearing retirement and may be a growing market. Look for fresh ideas, but remember to stick to health laws in your country.

• Specialised food stores

Today there are many food trends and specialty food stores can become very popular in certain markets. For example, you can create a line of vegan products and sell them online with home delivery.

• Sweets and desserts

In the same way that people do not stop drinking because there is an economic crisis, they do not abandon things they like to eat. A few years ago, when the UK was in a sharp economic downturn, cupcakes became popular. You can combine this idea with the former or try sugar-free, vegan, or gluten-free desserts.

• Repair Shops

When the economy is in lean, people do not buy microwave ovens, refrigerators, or new cars; they repair what they already have. Check items in your local market that are not covered.

• Charity Shops and Flea Markets

In the same way that no new things are purchased during recessions, many people visit charity shops or flea markets looking for deals. Look for offers or specialise in retro items.

• Funeral services

Funeral services are sought even in the worst financial times. Even in the worst economic crises, there are two certainties: death and taxes.

• Tax Services

Good accountants know their way in difficult circumstances. In these times, people seek to preserve every pound they can, while the Treasury seeks to maintain order in taxes. This creates ideal conditions for tax advisory services.

If you plan to or already operate a business from home, consider these factors to successfully develop your company.

Enjoy what you do

For a project to be successful, it is important that you like it, believe in it, and enjoy it. When a person performs a job that excites them and makes every effort to get it right, the customer perceives this clearly. This, over time, becomes steady cash flow.

Look like a pro

If you are a selling beauty products, look flawless daily. If you market or represent a health food company, it is best to have a good figure and let people see you eat your products. This earns the trust of your prospects and will keep captive to those who already bought your products. No matter what you do, you should always have a good appearance. That makes the difference between a professional and someone who is just trying their luck, especially when you run your own business.

Prepare to be the best

If you work independently, subscribe to specialised publications and newsletters. Investigate how to develop your own strategy of sales, administration, marketing, and advertising. Analyse your competition.

Design and build your space

If you live in an apartment, for example, you do not have to invest huge amounts of money. Choose a separate space to have as your own, be it an office or warehouse.If you market your clothes or have a cosmetics case, it is best to keep that clean and tidy so that your customers feel they are dealing with a professional space. Do not forget to ask your family to respect your work area.

Take your office wherever you want

Virtual offices Services are a growing trend. Renting a smart phone with unlimited Internet will range from £30 to £80. This depends on the company that you contract with. Mini-computers or notebooks market for £500+ and are equipped with basic tools such as word processing, spreadsheets, and wireless Internet.

Customise your offer

One of the advantages of having a home business is that you have the ability to provide a service tailored to each person. Since you are delivering orders under the specified conditions, send emails announcing packages designed exclusively for each of your customers. Anything goes.

Add value to your offer

We are in an era where people value their time—a car wash in 15 minutes, 30 minutes or the pizza is free, and so on. Therefore, it is important that your current and potential customers see your products or services as the way to solve a problem and make life easier.

Sell only benefits

When you talk about your product or service, always begin with the testimony of your current customers. Market flyers, websites, blogs, newsletters, and social networking profiles to include feedback from your satisfied buyers.

Create personal ties

Make your customer feel that your concentration, effort, and creativity are on the project for which you were hired, just so you stop being a supplier to become an expert advisor.

Organise your time

One of the recurring problems of entrepreneurs operating from home is lacking a working method. Results: work late, delayed deliveries, holiday and time off at midnight. Hence the need to set working hours, as if they work for a company. You also have to design efficient processes to eliminate unnecessary steps in your daily operations.

Put a price on your work

If your product sells or lends items to catalogue services, calculate how much you invest to produce or generate your offer, then check the prices of your competitors and you'll have an idea of the correct rate. Even if you work on your own, remember: you're a professional, and your work has added value. When setting the price, you should consider your studies; you've invested in your preparation and accumulated experience to become the best.

Learn to collect

It seems obvious advice, but in practice not all know it. For starters, sell your products or offer your services among your acquaintances, friends, and family. Design collection strategies according to each profile. Set deadlines for receivables; they must be 15 to 30 days maximum. Remember that as you find new consumers, this work will be easier.

Make a self-sufficient business

A big mistake is to finance projects of your customers with your own resources. It is best to ask for a deposit—usually 50 percent of the total—and the rest in cash once the contract concludes or the goods are delivered. On the other hand, to make an inventory, the bank applies for a microcredit. Even one of your suppliers should always have enough units to meet the demand of your customers. Rule of thumb: one thing is the business money, another your money and another destined to your home.

Design multiple forms of payment

You will not have to go to the office or home to charge your customers. One option is to open a bank account intended only for revenue of your business. Your customers can deposit or make a transfer via electronic banking. Another way to ensure steady cash flow in your business is to design different payment schemes, for example, weekly, biweekly, or monthly payments. It is better to not give extensions, but this is just the exception, not the rule.

Pay your taxes

Receipts of fees can work for large companies. Just do not forget to pay your taxes on time and at the end of the fiscal year, you can even get a refund for what you are due. To streamline this task, hire the services of an accountant to help you keep your accounts in order.

With a virtual office, you can operate your business from virtually anywhere.All you need is a laptop and an internet connection. A virtual office is an online work space that allows you to manage business using an internet connection and take advantage of different communication technologies, such as chat, video conferencing, and fax.

Some tips for opening a virtual office:

• Define the needs of your business. This is essential before you look for the elements to create your virtual office. For example, any computer you choose to use must have enough memory and be quick enough to cover all the tasks that you require. Video conferencing is also vital to a virtual office, so a built in camera and a quality microphone are must haves.
• Make a list of activities that would usually happen in a traditional office. This list may include conferences or meetings, faxing, making copies, using the phone, or having an assistant.
• Investigate online services that help create virtual offices. Decide whether you should design your own virtual office or whether it is better to hire a service. This decision may be based primarily on the requirements and needs of your business. If you need something very specific, it may be better to do your own office. If your needs are more general, you should hire a services and investigate different types of virtual offices.
• Create an email account for your business.
• Find out which service best fits your needs. Many businesses need to receive and send faxes. As an extra tip, you can use portable scanners if you're a person in constant motion.
• Investigate different Internet service options. Choosing a service depends on where you walk or stand most of the time.
• Explore the options of a smartphone. If you decide to use a phone, research to find the best one and an appropriate service provider.
• Know the options for sharing information like images or documents.
• Investigate the option of a virtual assistant if your business requires the use of one.
• After identifying your needs, establish a website so customers can contact you.

Advantages of a Virtual Office Model

In this section, we present the advantages of virtual offices, a new concept that has facilitated and revolutionised business.Virtual offices are advantageous for both small businesses and businesses that are just beginning. Small start-up companies may want to exhibit the highest levels of professionalism through expensive offices in excellent locations in the city, and thanks to virtual offices, all this can be achieved without paying the high cost of rent.tThose who offer space for a virtual office also offer different virtual office services. This way, all your business can be conducted from the comfort of your home.

The cost is minimal compared to a fixed office.

It will also provide an address in a good location so you can have contact with your customers, suppliers, and other outsiders. You can give your virtual office address your customers and be operating all your business from home in a totally different direction.The virtual office model works very well for those who do not need a fixed office or expensive installations. They can have the same level of professionalism as any other business by hiring the services of a virtual office.A typical virtual office includes: an address located in a good area; a professional receptionist who answers calls to be redirected to your phone, manages e-mail, receives and sends emails, and delivers messages that need to be presented personally; and a videoconferencing room.

Virtual offices can be helpful for both small businesses and professionals.

Types of companies using virtual offices include: financial consultants, brokers, mortgage advisors, marketing agencies, advertising agencies, architects, lawyers, accountants, writers, analysts, and people working from home.With a virtual office, all employees, associates, and partners can work from their homes. They will be registered in the virtual office software to access personalized services and make reservations.Facilities for people who use virtual offices strengthen customer relationships and business management. For those who are always constantly moving to conduct business, make the most of this model office by synchronising schedules before making a reservation.In conclusion, the concept of a virtual office is very advantageous for business owners who want to reduce their expenses or who may not find physical spaces necessary when people run their business from home. This concept is growing rapidly and builds a great development for modern business.

Want to start your business before signing a lease for office space or getting a mortgage for a building? If your employees are willing to work from their homes, cars, or other moving objects, a work environment within virtual offices may benefit you.Naturally, there are some issues to deal with when establishing a virtual office, such as the integration of office equipment, in order to provide the best service to customers and make the business function smoothly. Consider the following:

Where to Work

Technically, your office is everywhere. With the technology currently available, you can conduct business almost anywhere. The office could be in your home, in your car, at the airport, on the beach, or even on the top of the mountain.When your office is based in your home, you need to have a good office set up. This includes a quiet area away from distractions like food, TV, children, or housework. Put it in a place where you like to be, and use a room that is most appropriate for the job.

Office Address

What happens to your business address? If you are running a business from home, you probably do not want to use your home address as a business address.Depending on the type of business, you have two options:

• Rent a Post Office box
• Use a commercial email receiver that gives a corporate address and telephone number

Each option has its downside and may require another place to manage your email. Post Office boxes have the disadvantage of not allowing you to receive packages by mail or make deliveries, but this can be solved with the use of a service company specialising in sending and receiving packages. Many of these services send notifications when a package has arrived, no matter the time of day.These aspects are just the beginning of creating a virtual office. It also requires the introduction of certain virtual office services, including basic furnishings, and it is very important to know if the work environment offered by a virtual office suits you.

Software for Virtual Offices

When choosing software for virtual offices, there are several options to consider. Here are some tips for virtual offices in terms of software you may need:

Email

Programs such as Microsoft Outlook or Eudora provide good email features.

Word Processor

Programs like Microsoft Word, Word Perfect, Lotus Word Pro, or even Google Drive provide adequate word processing capability.

Spreadsheets and Database Programs

The most popular is Microsoft Excel, but you can also use Lotus 1,2,3 or Intuit QuickBase.

Introductions

It is essential to use software that lets you make presentations, especially if you need them in a professional manner. The basic program is Microsoft PowerPoint, but you can also try Astound or another of the endless free options available on the internet.

Antivirus

For anyone who uses a computer, it is essential to have an antivirus program. Use McAfee, Norton Antivirus, or computer maintenance programs such as Symantec Norton Utilities, McAfee, or TechTool Pro.

Audience

Having software for reading PDF formats is very useful, as it lets you view documents formatted as brochures. Try using Adobe Acrobat Reader.

Graphic Design and Editing Tools

It is always important to have software to help you with the design or editing. You can use programs such as Deneba Canvas, Adobe Photoshop, Macromedia Freehand, Adobe Illustrator, and CorelDraw. You can even accompany your scanner with software for editing images.

Internet Browsers

The internet is essential; no person may carry out virtual office activities without the help of internet platforms such as Microsoft Explorer, Google Chrome, or Netscape.

Opening your own business is a challenge that requires motivation, determination, and discipline. Before starting any endeavour, you should consider factors that will affect the decision before committing to starting a business.Ask yourself the following 10 questions to lay the foundation for the success of your business:

Do I have what it takes to be a business owner?

Being an entrepreneur is not a job but a lifestyle. It not only takes commitment, passion, and conviction for your enterprise, but also skills, energy, money, staff, and knowledge to start a business.It will be important to know your strengths and turn them into engine of your business. It is imperative that you feel supported by your family, as many successful entrepreneurs have recognised the support and encouragement they receive from their families as a key to business success.

Why do I want to start a new business?

Either because you had an innovative idea, because you want to enhance an existing service, or because you want to take control of your life. You need to define what you want to do and what is the end. One of the essential characteristics of successful entrepreneurs is that they all wanted to change the world, improving it with their business idea. In any case, you should be prepared to spend time, money, and resources to start your business.

Is my idea feasible/viable?

Identify the business you want to start. Describe the product or service you're trying to sell. To be on the right path, enter your product or service in a market where demand exceeds supply, fill an unmet need, or be competitive based on quality, price, and location.

Who will be part of the business?

Before adding people to your project, you should be clear whether it is really appropriate, if skills are complementary, and if you can work together. It is important that the entrepreneurial team is aligned in objectives and expectations to be able to pass through difficulties. After all, the main factor that will determine the success or failure of an enterprise is the people who run it later.

What is my market potential?

Before investing time and money in the business, know your market. To acquire knowledge of the market you have to analyse it. The market analysis is to obtain information about potential customers and determine the demand for your product or service. The more information you obtain, the better you can promote your business and the better your opportunities to capture market share.

What is a business plan and why do I need one?

Knowing where we are going and how we will get there is essential to guide us in difficult times. The business plan is a basic tool of management, acting as a compass to lead. This plan establishes a commitment to the actions of the company, allows tracing operations, the organisation of people, material resources, tasks to be carried out, and how results will be measured.

How much money do I need to start my business?

When companies are taking their first steps, they require significant resources. Entrepreneurs must first define up to how much they are willing to risk, whether in money, time, contacts, or resource utilisation. You must consider that future business will not generate immediate returns and accounts must ensure that you have sufficient financial reserves to keep your family and business for eight months at least.

How can I finance my business?

The most common way is to use equity or borrow money from relatives and/or friends. Another way is to borrow money from the bank or other financial institutions. Another option is a partner who wants to share the business risk. If you go to investors, make sure you stay with most of the shares. A final option is to participate in contests on business projects developed by government agencies, universities, or other means, where the best business idea is awarded with full or partial funding of the project.

Have I sought advice on the legal and accounting aspects of my business?

Be sure to select a solicitor and accountant to determine how you will manage your business, where you will situate you company, and how many employees are needed. You might need accounting software and other computer systems. You'll have to keep sufficient records to support your business in order to generate financial statements and file tax returns.

How do I incorporate my business?

Define which legal structure suits your company. The scenario will be different if you're planning to work as an independent contractor or as an entrepreneur and business owner, if you will join with family and friends, if you want to formally establish a partnership, a corporation, or other legal entity.Answering these questions will allow you to begin to launch your own business. They are basic and general points to start a business. As you evolve the business plan, you can think about more detailed aspects directly related to the type of business in particular.

Developing a successful online business is not an easy goal.

In this article, we present 13 key points to increase sales in an online store and improve performance. These 13 useful tips cover the different aspects that must be taken into account when designing a successful online store

• Title

The title should reflect the content of the web page. This way the user realises immediately if they are interested in the product or service offered.

• Teaser

It is important to put the products and the most popular and relevant categories in the foreground. The more visible they are, the more likely that the user considers them the most important information and therefore comes to it more directly

• Simplify the Structure

The basic structure of the website must be configured for the user to navigate through it quickly and easy. It should be very intuitive and communicate clearly through images, indexes, and bullet points. Only if the user shows real interest you should have access to a more in-depth explanation.Navigation should be set horizontally and highlight the main categories. The golden rule is: the fewer clicks needed = less discouragement to continue visiting the web = lower bounce rate = higher conversion rate

• Less is More Design

In this regard, both the quality of the images and the texts are very important. It is essential to maintain a clear and simple design. Do not overwhelm the user with unnecessary information; less is more! It is essential that the colour, contrast, shading, font, size, and shape are in tune.

• Post Customer Reviews and Elements of Trust

We recommend using the website elements of trust as seals, certifications, and customer reviews. You need to convince new customers they can buy safely. For this reason, it is important to place the elements of trust in a visible place

• Benefits and USP

Avoid the Unique Selling Proposition (USP), competitive advantages, and differentiating values. What makes you better than the competition? What makes your store unique? Note the deals; these products help increase your level of visibility and recognition among customers

• Limit Product Availability

Consumers have been always found products or services with limited or poor availability more intriguing when compared to those with easy accessibility. If availability is limited to a specific offer, the potential customer feels the need to buy the product as soon as possible

• Use the Thank You Page to Increase Sales and Cross Selling

It is important to try to cross sell complementary products. Cross selling, or upselling, increases the value of the sale. Promote similar products on the Thank You page displayed after customers have made a purchase.Customers especially like discount codes, and this is a formula for reinforcing shopping on subsequent visits.

• Chat Support

You can increase conversion rates by offering immediate assistance through web chat. Use personal conversations to sell in an active way. Customers are more likely to make a purchase when they have the chance to interact with a person. Also, the purchase dropout rate is minimised.

• Telephone and Contact Information

Company information and contact details that are clearly visible on the website are vital. Users should see that they can easily contact the online store.

• Purchase Facility

The purchase of the product must be quick and easy to avoid abandonment. The user must make the fewest possible clicks to carry out the purchase.

• Payment Options and Shipping Cost

Having a wide range of products increases the likelihood of purchase, but it is also important to have various payment options. Many customers buy only when they have made several alternatives to pay. In addition, these payment options must appear highlighted in the web and inform the user clearly about the order, shipping time, and costs. It can be negative if a customer discovers additional charges not clearly disclosed on the website.

• Site Optimization for Phones and Tablets

The usability of the online shop must be global, and not only in the process. The online store has to be adapted to any type of device, either through the Responsive Web Design (RWD) or adaptation of the device itself, as you never know how potential buyers will access the store.

Having a virtual office is the best way to make your business transcend borders. Likewise, virtual offices give your company the presence you need to gain the trust of your potential customers abroad.A virtual office is a workspace that a business professional can rent for a certain period of time to use as a professional office, fully equipped and ready to develop commercial and entrepreneurial activity.You can buy a business presence immediately, only paying a fraction of what you would pay for a physical office. Also gain tax addresses, virtual addresses, and a business address, which ensure an excellent image to its customers and control over their movements, contracts, and negotiations.Hiring a virtual office is easy to grow your business in other countries without spending money on travel and full-time employees. We provide virtual secretaries responsible for carrying out agendas and keeping books. Bilingual receptionists are also available.

Characteristics of a Virtual Office

Virtual offices are a convenient alternative when you want to rent an office space.Some specialise only in one specific area, while others combine two, three, or four areas to provide virtual office services with full features. The following are those features:

Physical Office Service

A virtual office provides physical office services such as conference rooms and a reception area, plus office equipment such as printers, projectors, telephones, and computers. Customers can usually either rent office space on the site and share these services with other tenants, or they can work from elsewhere, such as home, and use these services only when necessary.

Correspondence Address

Guests can rent office space on the site and share these services with other tenants, or can work from elsewhere, such as at home, only making use of these services as needed while using the physical address as a mail forwarding service for customer correspondence only.

Answer and Call Forwarding

Many virtual offices offer a telephone receptionist to answer calls in a professional manner with a personalised greeting on behalf of the client. Messages and calls can be sent to the home or office, depending on customer requirements and availability.

Support Staff and Technical Equipment

Virtual support staff is one of the most convenient features of a virtual office. Besides the reception services, support ranges from secretarial and administrative services to accounting, a library for developing web sites, network administration, and technical support. These services save customers the need to hire employees or outside contractors to handle such tasks and frees up time for the customer to focus on their work.

What Makes Up a Virtual Office?

Most current offices need access to all information and applications on the internet to do their work, and above all they need to do it the more convenient, productive and efficient way. They are in touch with their work from anywhere through phone calls, emails, or connecting to the Internet from their mobile devices. This is part of a phenomenon known as virtual office.

The Next Generation: The Virtual Office

This desire to work from anywhere coincides with new trends that have had a strong impact: virtualisation and cloud storage. Office virtualisation separates the worker from the static desktop to introduce a virtual cloud as a more efficient way to develop their work.

Mobility and "Virtualisation"

In recent years, an operator's desk was characterised by a desktop computer, where the worker would spend hours sitting in front of the monitor. Technology has now allowed these workers carry out their activities from the various mobile devices, allowing them to work from anywhere—not just from a desktop.This is the reason why many offices have innovated with virtual projects that any of their employees can easily access through a password account from any device with internet access. The cloud services offer an almost inexhaustible infrastructure stability and reliability at low cost.

Behind the Virtual Office

Because any kind of virtual office includes all possible parts, functions, and characteristics of information technology, including software, wireless networking, and Internet security and support, it ends up being a whole lot of moving parts.Because of the different tools offered by different technologies, the virtual office can handle any office concept, because it uses tools similar to those used in a conventional office.When you save files and tools in an electronic or virtual support, enhanced security is obtained from the physical and conventional desktop. Files in a virtual office may have a restricted access so only registered users can access.The service of a virtual office not only includes a platform for storing files and editing, but also the possibilities of communication via chat, email, or even video calls.As you may realise, the new generation of office workers can now work from anywhere. By streamlining work, however the change from a traditional office to a virtual cannot be so easy. Specialised help may be needed to determine which platform is more useful for the type of work performed.

Beginning and working a business can be simple in the United Kingdom. Then again, the smallest missteps can complicate the whole process. Individuals wishing to form a company are regularly uninformed of the methods and wind up committing errors that are highly consequential.For instance, some create an organisation limited by shares when they really needed to create on limited by guarantee; others may issue all shares of the organisation in the starting stage itself when they can actually offer just a couple. To keep away from such mix-ups that are monotonous and too difficult to undo, you can decide to employ the services of company formation agents.The real procedure of registering an organisation can be finished within a period of 3 hours after the submission of application. Be that as it may, there are a few stages involved in this:

• Selecting a name for the company – The intended name of the organisation can be looked up via the internet to determine availability. Individuals purchasing an existing organisation can likewise change the name of the obtained organisation to the fancied name if available.
• Registered office – All business within the UK are expected to own a registered office address where all notices from Companies House, HMRC and other document pertaining to the company can be delivered to. This doesn't need to be your physical address where you work, but it is publically available so a virtual address is often preferred.

Immediately you submit your application online, and make the necessary payment through a safe framework, a receipt is created and affirmation sent. The points of interest of the new organisation created are sent via email and duplicates of reports, for example, Certificate of Incorporation, Certificate of Non-trading, Articles and Memorandum of Association and Minutes of the initially meeting held will be sent via a top post.

• Bank Account – It is compulsory that a bank account be opened for all transactions.
• Insurance and Tax registration - every business is mandate to register for national insurance, VAT and corporation tax as well as pay the taxes as at when due.

Finance and accounts – All organizations in the United Kingdom are to keep up appropriate record books and document annual returns to Companies House within a predetermined period, upon a fault at this, a punishment must be paid. It is advisable to hire an accountant to oversee all these paperwork. If you can’t afford it, financial service firms can do it for you.

• Staff – Employing the right employee is critical to implement the planned exercises proficiently and precisely.
• Website – If the organisation has a site, then all points of interest, for example, organisation number, official office location, contact information like, email, phone number etc must be shown.

What is a holding company?

This is a kind of business that particularly has to do with investments, resources and administration, as opposed to offering goods and services with a perspective to gain profits from production and sales. A holding organisation will be restricted by shares and its fundamental exercises will include owning resources in another organization (or numerous organisations) for example, real property, intellectual property and shares. Beside these capacities, a holding organisation has no other kind of business activity.Subsidiaries refer to other firms in which resources are held. In the United Kingdom, the company where over 50 percent of assets are held is called the ‘parent’ of these subsidiaries.Contents:

• The legal requirements of a holding company

So as to become a holding company, the Companies Act 2006 (sec. 1159) noted that an organization will be viewed as the subsidiary of a holding organization in these circumstances:

• More than half of the voting rights in the subsidiary.
• The directors of the subsidiary can be removed or replaced by parent company.
• In agreement with the shareholders, the parent company is a member of the subsidiary and it controls a greater part of the voting rights in the subsidiary.
• Tax liabilities of a holding company

A major attraction of this sort of organization is the potential for saving taxes – majority of the dividends and share disposals are free from taxation. On the off chance that a holding organization claims a 'significant shareholding' of no less than 10 percent of the ordinary shares in a subsidiary for twelve successive months amid a two-year period before the transfer, the holding organization can discard these shares without any tax obligation, however, it is mandatory that such holding company and its subsidiary be active for 12 months before and after the disposal.A holding company may also be free from tax obligations if it majorly carries out functions such as:

• Disposing of shareholdings in subsidiaries.
• Defending itself and its subsidiaries from takeovers.
• Receiving dividend payments from these shareholdings.
• The acquisition of shares in subsidiaries.

HMRC doesn’t see these activities as 'taxable '; along these lines, any holding organization that works with these fundamental capacities alone won't be required to pay for VAT. It is impractical for this kind of holding organisation to intentionally enlist for VAT; on the other hand, if the holding company gives, or means to give, taxable supplies to a subsidiary, it will be allowed to deliberately enrol for VAT. Necessary VAT enrolment will apply if the yearly taxable income surpasses £82,000 (2015-16).

• Can I use the word ‘holding’ in a company name?

Modifications were done on January 31st 2015 to the guidelines for business and company names. The word "holding(s)" is no more thought to be 'sensitive'; as a result, you may use this word to register an organisation name.

• How do I register a holding company?

A holding company can be set up in the very same manner as some other privately owned business limited by shares – you should legitimately join it with Companies House and stick to strict statutory recording prerequisites. Your Company Formations provides a variety of formation bundles online for enlisting an organisation limited by shares in only three hours. To register another organization on the web, you will need to give the accompanying data:

• Name of Company
• Official office address
• Details of at least one director
• Details of at least one shareholder
• Articles and Memorandum of association
• Share capital – details of issued shares
• Documents to support the use of certain sensitive words in the company name

You would electronically submit your application form to the Companies House. If everything is properly done, your new organisation will be enlisted in just 3 hours and a confirmation will be sent to you via email along with digital documents to affirm the incorporation of your company.