Business News

A cluttered work area leads to frustration and decreased productivity. If you work in an area that requires creativity, you may lack some of that creativity with too much clutter around you. The tips below will help you to organize your office for increasing your focus and productivity.

Purchase a Desk with Storage

A simple desk that does not take up much room is okay as long as you have zero paperwork to put on it. You do need room for typical supplies like pens/pencils, staples, paperclips and organized tabs for reports. Everything else, other than a small calendar, should be kept off of the desk. The more organized your immediate workspace is, the more productive you will be.

Keep Distractions Out of Sight

Anything that distracts you such as mobile devices with social media access, a television or an open window, should be removed from your sight. Log off of social media accounts. Turn the television off and consider noise canceling headsets to still enjoy nature with an open window but without the noise distraction.

Add a Creative Element

Your private workspace should have one little dedicated area for a creative inspiration piece. Whether it is a book, a painting or a photo, anything that helps you stay creative is helpful. When your mind is working and coming up with new ideas, it is productive.

Electronic Organization

Rather than keeping boxes of files and records in your office space, consider using an electronic organization program. You can use a scanner and an internal file system on your computer to save digital copies of every piece of paper you need for work purposes.

Organize after Each Project

It is a good idea to take a few moments after each task and put things away. Anything that you took out for one project but do not need for the next, should be placed back into its assigned space. Keeping clutter off of your desk keeps your mind focused on work and the next task you have to complete.Keeping unneeded items out on your desk all day means that more is going to join it. By the end of your day, half of your immediate work space could be taken up by items that you just did not feel like putting away when you were done with them. Get into the habit of cleaning as you go, just as professional chefs do in order to keep their immediate workspace free of debris, distractions, and potential hazards.

Dress for Work

It may not make sense to some, but in order to help your desk area and office space stay organized, you should still dress for work even if you are working remotely. If you have a video conference or meeting planned, your space needs to look neat and clean. You also need to look neat and clean. A clean, professional appearance helps you maintain productivity and stay on-task.

Include Natural Light or Natural Elements

Being closed off in a stuffy workspace is counter-productive. It makes working seem mundane, boring and displeasing. When you set up your own workspace area, make sure you have access to natural light. If you do not have a window in your office space, change your light bulbs to LED options and bring in a couple of small plants.

Give Yourself Room to Stretch

As you work to create your workspace, make sure you have room to stretch. A cramped workspace often leads to losing interest in the task at-hand. When designing a home office, make sure it is on the opposite side of the home to prevent clothes and other items from finding their way to the office. As you build a collection of dishes/silverware, clothes and beverage containers, it makes the space seem more like a general purpose room than an office space.

Final Thoughts

Your personal workspace does not need to look like it belongs to a minimalist, it just needs to be tidy and well-organized. Assign everything a place and remember to always put things back in their proper place. This requires a bit of diligence on your part, but it is only a second or two of extra effort. You will notice that your productivity will increase when your office space is neat, clean, organized, and fresh looking.

Recognizable business leaders often become authors to help other business owners become successful. Each successful person has had a different path to success. Each has learned what works and what doesn’t in terms of building a strong company, meeting business goals and becoming dominant business leaders in their respective industries. These New York Times best sellers offer guidance, tips and strategies for business owners to command attention and dominate in their respective industries.

The Third Wave

Written by Steve Case, The Third Wave is both a New York Times bestseller and Wall Street Journal bestseller. Case is a very successful entrepreneur. He is partially responsible for the biggest merger of companies in business history. His writing help aspiring business leaders achieve their goals and creates a pathway to success through examples.Case stresses that hard work is required to be successful. The book also displays that without a few failures, the “next big thing” cannot come to its full potential.

Shoe Dog

The creator of Nike, Phil Knight, gives readers an inside look at how the most recognizable name in shoes came to be. Nike was started with a small, $50 loan to import a high-quality running shoe from Japan with low costs. Knight began his vision by selling pairs of shoes from the trunk of his car before ever opening a brick and mortar location or starting a manufacturing facility.

#GIRLBOSS

Sophia Amoruso, author of #GIRLBOSS, discusses her difficulties as a teen. She started from nothing, and was tired of living an unhappy life. She struggled to feed herself, keep a roof over head and just live. After getting angry at her situation, she did something about it and started one of the most successful retail companies in the world, Nasty Gal. The goal of this book was to display that fancy degrees and expensive college educations aren’t needed to be a successful leader in the business world.

Dream Home

Drew and Jonathan Scott, hosts of multiple HGTV television series’, are successful in the real estate industry. Drew Scott is the realtor and his twin brother, Jonathan, is the construction expert. The brothers have built a business based upon buying and selling homes while making a few improvements prior to selling, to maximize selling potential. A theory of theirs is to invest a little now to have a bigger return later.Their book outlines how others in the real estate or property investment industry can maximize profits and achieve goals, even on a tight budget.

Money: Master the Game

Financial freedom is something that most people want to achieve. Tony Robbins outlines how to make good investments, how to reach financial goals at any age and be a successful leader. He includes that diet, exercise, setting goals and making a profound impact on those around you at work are part of what makes you a successful business leader.

Disrupted

Decorated and previous Newsweek writer, Dan Lyons chose to make lemonade when he was given lemons with the news that he was being let go. He became a marketing fellow with HubSpot, which seemed great at the time but turned out to be what he did not want. Disrupted outlines how investors and startup companies seem to conspire to achieve financial greatness, which is often misinterpreted as success.

Extreme Ownership

Take a few lessons from a former Navy SEAL, Jocko Willink and co-author Leif Babin. This compelling read outlines how SEALs have to plan attacks and each move on the enemy carefully to be successful. This applies to leaders in business because every move has to be carefully laid out and followed to a “T” to work. This book discusses how to motivate those around you, and those in your workforce. It also talks about overcoming adversity and strife in times of turmoil while still coming out on top. It is motivational and inspirational for all of those aspiring to be a leader in business.

Closing Thoughts

If you wish for your business to dominate in its industry, study your competition and what led them to success. Take notes and set goals for your own career and/or business. Meeting goals means that you are making progress and are successful. Some of the best leaders in business started as followers who chose to follow their own dreams.

Being happy in your career is important for both productivity and personal happiness. When you are unhappy with a career, it ruins your outlook on that career and reduces productivity. If changes to your work situation need to occur, it is important to take the steps to do so in order to meet your own career goals.

Bringing Personal Situations to Work

Not leaving personal difficulties at home wrecks your outlook on your job. If you are unhappy at home, it comes to work with you. Leave your personal business at the door and focus on your job. Save personal discussions for breaks. It is difficult to leave tragic situations at the door, so in those situations, ask for some leniency.

Not Setting Work-Related Goals

Without goals, you have nothing to look forward to in your career. Set a goal to receive a promotion, become a team leader or obtain a raise. Reach that goal and set another. Make each goal bigger so that you have to work a little harder to reach it. Reaching goals should become a personal game to see how quickly you reach each one.

Constantly Checking Email Accounts

Unless you need email for work purposes, keep it closed. It is a distraction and reduces productivity. Schedule 5 minutes per hour to check emails and only respond to those that are work-related.

Working Long Hours

Working in an industry that requires long hours is exhausting. It can make you not want to go to work. Consider a schedule change, or speak with a superior about working a different shift with less hours per shift. You can also get more done each hour to prevent working longer hours.

Not Sleeping Enough

Sleep is important. When you don’t get enough, you don’t perform well. Make a sleep schedule and stick to it, even on weekends. Your body needs a schedule to be in sync so that you can perform at your best at work.

Working too much remotely

While working from a remote location, or from home, is more comfortable, it can be a distraction. At home you are likely to be more interested in enjoying your relaxation space, watching recorded television or taking care of household chores.To remedy this, work from home or in a remote location sparingly. When you are at work, in a work setting, your concentration stays on work. It is important to maintain a productivity schedule when working from home.

Working a Job you dislike

There is not much point to working a job or in an industry that you dislike. It is essentially the career kiss of death. If you are not excited about the industry you work in or the company you work for, it can affect your performance.Find an aspect of the industry that you do enjoy and focus your energy there. It will help you take more pride in your work and the company you work for.

No Room for Advancement

If there is no room for growth or advancement in the career you work in, it makes it hard to stay positive about going to work. If advancing is important to you, schedule a meeting with your superiors and let them know that you are slightly unhappy and wish for more responsibility as an added challenge.

Procrastination

While some people do work better under pressure, procrastinating can actually bring on a lot of stress. Rather than waiting until you actually have to perform a work-related task, set yourself a task schedule and stick to it. It will help you get more done throughout the day and it prevents you from having to work late or on weekends to make up for what wasn’t completed during your normal work week.

Social Media Distractions

Social media is a huge distraction. Most people check social media multiple times throughout the day, on the company time. Stay off of social media while at work. Only access these networks on breaks and when you are away from the job.

Final Thoughts

By taking some of the advice here, you can help yourself have a lucrative career doing something that makes you happy. When you are unhappy, make changes and set goals. Without goals you have nothing to look forward to in your career, which often leads to dissatisfaction.Are you guilty of any of these bad habits?

Baby boomers were born between 1946 and 1964. Now that many have reached retirement age, their need and desire to continue working has increased. By the year 2030, roughly 20-percent of the population will be baby boomers. Opening franchises in an industry that interests the individual often produces better results since there is more drive to succeed.

Promedica24

Franchising with Promedica24 is ideal for those wishing to enter the senior care sector. The program is structured to place live-in caregivers with clients to assist with daily tasks, appointments, housecleaning and managing their health. Having a live-in caregiver gives families of loved ones with diminishing mobility and/or health issues a bit of peace-of-mind knowing that someone is with their loved one at all times.

Eazi-Apps

Internet-based franchise businesses are ideal for baby boomers. Eazi-Apps teaches those interested in marketing a new mobile application from the development to launch phases and beyond. For those that require more flexibility and the ability to be creative, mobile applications are ideal. Baby boomers can easily design apps for those in their generation to add convenience to their lives. Apps created by those for a specific generation by that generation have greater success since those creating it have experienced the issues requiring the need for the app.

No Need to Paint

Painting is something that many homeowners and business owners just do not have time to do themselves. Operating a professional painting franchise is a good option as both residential and commercial properties require painting from time-to-time. This is often the case when homes/businesses are bought and sold and require décor changes.This is an ideal option for a baby boomer that wants to own a franchise and have the label of business owner without all of the responsibility. A general manager should be sufficient for day-to-day operations. The general manager would answer to you (the business owner) with any issues and updates on the dealings of the business. Transparency is a must between you and your general manager so that you (the baby boomer) can enjoy your life and still receive an income.

Business Doctors

Coaching and mentoring new business owners is a lucrative way to work for yourself and own a franchise. This is an ideal option for those that wish to work with small and medium businesses in a variety of industries to help efficiency, productivity and strategic marketing tactics to increase revenues and improve overall business operations.Working in business consultancy helps struggling companies adopt rules, regulations and structure to improve operations. Safety concerns can also be addressed and the consultant (you) would help implement proper safety protocols.

Tutor Doctor

Tutor Doctor has over 400 franchised locations throughout the world. Private tutoring offers struggling students the one-on-one attention they need to grasp what is being taught in the classroom. Each student is paired with a tutor that specializes in the area of study they struggle most in. Lessons are made to adapt to each child’s style of learning to ensure that they excel in the classroom.Services like this are easily franchised as the benefits of the flexible learning techniques catches on. Testimonials from satisfied parents and students help a small tutoring business gain attention, build a reputation and grow.

Coldwell Banker

Franchising with Coldwell Banker is a good option for those interested in working in the real estate industry. This brand is well-recognized and has a strong reputation around the world. A franchise opportunity here means that the realtors working in your office may have more success than those working independently simply due to the brand’s name and long history in the industry. Realtors work with residential and commercial property buyers and sellers for a variety of reasons from those looking to start a new business venture to those looking to begin a family in a home of their own.

Final Thoughts

After working for someone else their entire lives, many baby boomers want to venture into new territory. Many are not ready to stop working or their financial requirements require continuous income. Franchises are ideal because these businesses come with guidelines already in place. It is easier to start-up a well-developed franchise than a ground-floor business. It is important to select a franchise, or new business in an industry that interests you for better success.

Advice on how to start a business when a Loan is not an option

Starting a business requires the owner to have the capital available to sustain the business for at least one year. While this is likely the case with most startups, having a way to access additional funding without seeking a bank loan is ideal. Even without investors and doing most of the work yourself, you can still start a business without applying for a single loan.

Maintain a Primary Job

One way to ensure that you can take care of your household expenses and have some available to put into your new business is to maintain a primary job. In other words, don’t quit your day job. Have management personnel in place to handle the business while you work to make sure the doors stay open.

Consider Hiring Friends and Family

Friends and family may volunteer some of their time to help you out with your new business. As a startup, they are likely to work for free. Once you are able to put them on payroll, it is ideal to do so. Friends and family make great employees when they are appreciated and their hours at your business do not interfere with their regular jobs and/or family schedules.It is important to hire those that you can trust with your business. If something with the business were to go sour, or your relationship in general, it could jeopardize the business and the relationship. It is tricky to ask friends and family to work for you when you cannot offer pay, but in most cases, they will be happy to help out. Make sure that their kindness is not taken advantage of.

Maintain Low Overhead Costs

Try to keep your overhead costs low. Use services that bundle rather than individual services for everything your business needs. A prime example of this is combining your Internet and phone services, with voicemail service. Work as much at the business as you can yourself. Not having a big payroll right out of the gate is ideal as it will allow for more revenue to go back into the business.Blend ServicesConsider offering consulting services along with your main product or service. This shows other business owners that you are an expert in the industry and have something to offer them that can help their business goals at the same time. What this does is creates income for your business and develops working relationships. There will be times when other businesses in the industry will need what yours offers, and when you are in good standing with them, your business will be their first choice as a vendor.

Liquidate Unnecessary Possessions

Sell everything you do not need. Take these funds and create a business savings account that earns interest. This will become the starting point for the business’ emergency fund if a major financial hit occurs or business does not take off as quickly as planned. This is a responsible measure to take to prevent taking out a loan and paying back one and a half times (on average) the amount you borrowed.You may only have one opportunity in life to start a business. You will have multiple opportunities to buy “things” in your life.

Approach Investors

Don’t be afraid to seek out investors. Investors do not really have any say in what decisions you make for the business; they just provide the money to keep you going. Of course, they are going to expect a return on their investment. This is typically an additional percentage of their investment in a set period of time.

Reinvest Profits

Reinvest your business’ profits back into it. This way, you literally are funding the business yourself, without the help of investors or banks. It also helps during tax time to account for the profits that are not reflected in a bank account balance.

Closing Thoughts

As you write up your business plan and prepare to put the wheels in motion, create a list of business goals. These should be small milestones for your first year, with one large goal to achieve by the end of your first year in business. This helps keep you, as the business owner, motivated to market the business and expand with new products and services over time.

Working from home comes with ample opportunities for distractions and loss of motivation. It all starts with doing something you truly love to do. If you are unhappy in your career, even working from home is not going to make you more productive. You must have a solid work ethic and the desire to succeed in order to remain productive while working from home.

Design your own Workspace

Create a workspace in your home that is separate from the sleeping and common areas. It should be on the opposite side of the home from the bedroom, when possible. Design the space with things that make you happy. Use prints of inspirational, motivational and productivity building quotations from your favorite people.The happier you are to enter your workspace, the more productive you will be. Keep the space organized as clutter leads to tension and being out of sorts. Clutter kills productivity quicker than a cloudy day.

Put a Value on your Time

Your time is not free. It is important to establish your worth and make sure that you are receiving your value (pay) for the time you give to an employer. The more value (pay) you receive for your time, the more productive you are likely to be. Low wages often cause at-home workers to stray from work duties and lose interest in performing those duties.Compare your average hourly earnings and make sure that it matches the dollar amount that you have placed as the value of an hour of your time. If your numbers are not matching up, it is ideal to examine your work situation and make adjustments accordingly whether it is to complete more tasks in an hour’s time or take on additional clientele.

Collect Past Due Balances Diligently

If you are working as a freelancer, from home, it is up to you to collect on past due invoices. All of your clients should have signed contracts and in those contracts it should state that legal recourse will be taken for all unpaid balances. This allows you to send collection notices and demands for payment to clients with the intent of filing in small claims court.When freelancing, it may be a good idea to require payment in advance for brand new clients for a period of time to develop a working relationship. This ensures payment, you just have to be sure to deliver what the client has paid for. Once trust is established, invoicing can occur for services rendered.

Prevent Distractions

Extensions exist for browsers to block you from accessing specific websites, such as Facebook and Craigslist as examples, during set hours. Preventing yourself from accessing distractions during work hours promotes productivity and helps you develop a stronger work ethic.

Get Dressed Everyday

Even if you only have to walk 10 steps to your home office, get dressed for work. Looking the part, even at home, promotes productivity and makes you want to work harder to get back into your street clothes. Make sure that you keep a business-appropriate wardrobe available as you never know when a client may request a formal video conference call. In those instances, you will at least need to be dressed the part from the waist up, so it does not matter if your bottoms are sweats. You are, however, more likely to perform better in conference calls when you are fully dressed in the appropriate attire.

Keep a Schedule

Even if you aren’t leaving the house and don’t have specific due times for projects, keep a schedule. Go to bed at the same time every night. Set your alarm and get up at the same time every morning. Keeping a schedule, with hours created to your preferences, helps you stay productive while working from home. It is also a block of time that you will tell friends and family is off-limits for work purposes and is a timeframe given to clients for contact.

Closing Thoughts

With a bit of discipline, you can be productive when working from home. Allow yourself to listen to music for motivation. Set timers for tasks and make productivity a game to keep improving the number of tasks completed per day. The more you challenge yourself and keep working from your home office interesting, the more you will want to work.

Business insight specialists are predicting the rise in demand from customers for improved customer-centric services as well as more flexibility in the workplace for employees. Business owners are now listening more to the needs of their customers and workers to help generate greater success and improved possibilities for the future.

The rise of the CCEO

A greater focus on customer experience is a big trend this year. Customer-centric businesses are now becoming more profitable than those who don't focus on customer services, so more companies are now looking to recruit Chief Customer Experience Officers (CCEO) to their boards.Forrester Research have revealed that loyal customer bases spend on average around 13% more per transaction than single speculative customers who buy once and are never seen again. Many businesses will work their sales and marketing techniques from their staff downwards, but it is the job of a CCEO to work from the customer upwards. CCEOs understand what customers want and will work within the team to streamline product and service developments, and make them more tailored to better suit their customer demands.The main aim of bringing a CCEO on board is to build the business around the customer, and then everything from there upwards will be about delivering the best value to the customer and building a culture within the business that prioritises customer care. It is all about delivering a frictionless customer experience with a personal human touch.

The demand for Same-day delivery

Market leaders such as Amazon have been at the cutting edge of customer service technologies since their inception. They have been looking at ways to develop a same day delivery service for a while now, and their drone delivery service is still being tested.Customer fulfilment is a high priority for all major businesses, so offering the fastest delivery service possible will always be a lucrative revenue channel. While same day delivery is still the domain of the local fast food industry in most areas, new companies such as Deliveroo are taking this a step further. By partnering up with restaurants that do not offer a delivery service, Deliveroo are now bringing more revenue in for different restaurant owners without the need to employ their own delivery staff.This trend has now spilled over into the retail market where people may order goods online to pick up themselves or book a delivery service to pick up for them. Same day courier services are now offering a service to customers to book a pick-up or delivery at a cheaper rate than some overnight carriers, and through an app the customer can keep track of their goods on every step of the journey.The demand from customers for more convenience means that in most cases they are willing to pay for it. This has opened up a niche for a fast delivery service for perishable items as well as urgently needed items for work or home.

Increasing SME and micro-business exports

Business analysts are predicting a further rise in micro-businesses this year. Micro-businesses are essentially companies that employ no more than ten staff, and a lot of these are expected to be very small-scale businesses where people are turning their passions and hobbies in to a moneymaking enterprise.With the rise of the internet opening up worldwide trade opportunities, the creation of the micropreneur has seen an increase of more than 55% in micro-businesses in the UK since the year 2000. It is now thought that there are over 8.4 million people employed in 5.2 million registered micro-businesses across the UK.A key growth in exports is predicted this year for smaller traders. With the market opening up to trade in China and India, there are more opportunities for SMEs to trade abroad amongst new growing economies. There is a lot of potential for small business owners to expand their reach further this year, especially if they produce something unique that other countries will provide a demand for.

Growth of flexible working and the freelance market

With an ever shifting and changing workforce, there is expected to be a boom in freelance and flexible working options for employees. Along with a rise in commercial rents, many new businesses will be looking to share office space and workshops to keep costs down, which will also include the use of virtual offices.Even in smaller towns across the country, shared workspaces are on the increase allowing entrepreneurs and sole-traders to come together to share facilities and overheads, as well as opening up the potential for skill-sharing across the wider community.Freelancers are also taking on much more specialist work than ever before. This means that they can no longer rely upon a quiet corner of a coffee shop to get their work done. With an increase in freelance workers wanting flexible hours to fit their lifestyle, many are choosing to work from home or use a local hub that can offer secure and reliable internet connectivity.Many freelancers working from home like to get out of the house and interact with other like minded people to share ideas and collaborate together on larger jobs. The ability to join forces with other freelancers as well as providing regular social interaction in a creative atmosphere can be very beneficial for both worker and client.

Conclusion

The main trend for this year will be for businesses to get to know their customers inside and out. New businesses just setting up will be more likely to succeed if they can take the time to engage with their customers in new ways.

We all know what a media stir Jeremy Corbyn caused last year during his rise to become the leader of the Labour Party. Whether you follow politics or not, his sudden rise to fame from the ranks of near obscurity can offer the small business owner a lot of important lessons.What makes JC stand out from the bland rank and file politicians we see every day on our newsfeed is that he stands for change. He is noticed because he is very different to the navy-blue suits that litter the halls of Parliament, both in his beliefs and in his appearance. Despite the PM suggesting during Prime Ministers Question Time that he should 'put on a proper suit, do up your tie and sing the national anthem', Mr Corbyn refuses to let himself blend in with the crowd.The public are led to believe that Corbyn really doesn't buy into the whole spin-doctor, PR machine, styling or image marketing that the other leading politicians tend to favour, and that has been trendy since Tony Blair started it all back in 1997. But instead JC forges his own path – which to me is pure marketing genius by itself!

What lessons can Jeremy Corbyn can teach us in business?

Image is important

Your image counts for a lot in business, but it doesn't mean that you have to look exactly the same as everyone else. Corbyn doesn't look like your average politician - he doesn't like to wear a tie, has a bit of a scruffy beard, and he rarely wears a suit, but it still didn't stop his image going viral on the run up to the party elections.So although you want your company image to look professional so you can be taken seriously, it can actually help raise your company awareness by being a little bit different to the crowd. Do you really want to look just like everyone else in the club, or would you rather have an image that sets you apart from others and gets you noticed?It is up for debate whether Corbyn intentionally crafted his brand image to be able to connect and engage with an audience that has become tired of the same old generic PR machine manufactured politician. However, contrived or not, it seems to be working very well.

What makes us different, sets us apart.

When we look at Corbyn and Cameron we can see that they both stand for very different political ideals. In the marketing world, we are often told to mimic our most successful competitors because what works for them may also work for us, right? But what really happens is that the marketplace becomes too similar.Corbyn himself was heard to quote, ‘I think one of the problems in the election was there was not enough difference between the parties' – Jeremy Corbyn on why Labour didn’t win. In recent years it has to be said that both the Labour and Conservative parties has developed blurred lines where they both meet. But by having a completely different strategy, Corbyn has been able to rise to from the ranks of obscurity to take the leadership title.We can apply this logic to our business-related activities too. If you are in a business sector with a lot of competition, what makes people choose your product or service over another that at first glance is just the same? Quite often it boils down to how you package your product or service. If your brand stands for something that your customers can relate to, then they will be more likely to buy from you rather than from one of your competitors.This is exactly what Corbyn has done – he has found a niche audience that are looking for something different. He got people to vote for him that wanted to see change in politics.Separating yourself from your competitors rather than imitating them can help you to align with a whole new audience that will connect with you. Attracting a different audience that share your views is a whole lot easier than competing for the same customers who already buy from your opposition.I bet you never thought you would be picking up business tips from Jeremy Corbyn – but don't forget that politics is also a business. Each party are vying for the ultimate prize of winning our vote and running our country – they do this through engaging a large enough audience to win them that power. It is just the same as a small business winning customers to help their company thrive.Our London based virtual office service and help improve your image and set you apart from the competition!

When you want to make your business official, it can be much easier than you think to register your own company – you can now do this quite quickly and simply online through a formations service, such as Capital Office, and you can be up and running within the day!We can take care of all the official notification work for you, such as registering your company with the registrar of companies at Companies House. All you have to is to decide what structure your company is going to take, and then follow our simple step by step process online to get registered.Here in the UK we have a choice of different legal structures that your company can take. Which one you choose for your company will depend on how you wish to operate. By far the most popular types of business formations are companies limited by shares, and sole traders. However, these two options carry some rules and regulations that need to be adhered to that you should be made aware of.For your information we have listed below the primary differences between these two structures, so you can see which one would be more suited to your type of business.

Limited Liability

For your greater protection it would make sense to register your business as a company limited by shares. This is because if the worst should happen, each shareholder or member of the company would only ever be liable to pay what their individual shares are worth. For example, if you and three friends or family members where shareholders in your company, and you each owned a share at just £1.00 each, then you would only be liable to pay £1.00 each should your company go bust. Their personal finances will remain unaffected and protected.This is not the case for a sole trader however. Because there is no distinction between a sole trader and their business, they would be held entirely liable for all debts run up by their business. So if the worst should happen and the business went bust, the sole trader would have to pay out costs from their own pocket. This can often be catastrophic as the sole trader would have to use their own personal finances to cover costs, and this can impact greatly on an individuals ability to keep up with their mortgage payments, bank overdrafts and credit card repayments.So you can see from the two examples listed above why it makes perfect sense to register your company with Your Company Formations and the process is very easy to complete. In fact, all you will need for your company formation process are the following details:

Your Company Name

What you choose to officially name your own company is down to personal choice, however under The Business Names Act 1985, you must make sure that the name you choose is not already owned by another UK registered company. It is worth doing an internet search to see if your preferred company name pops up as already being used by someone else.There are also some words that you cannot use within your company name without express permission, and obviously names that contain sensitive words such as swear words or profanities will not be acceptable by Companies House. Also use of words like “association”, “group”, “federation” and similar words within your company name is prohibited.If you are really confused about coming up with a suitable name for your company, then one of our friendly customer service team members will be on hand to help and guide you.

Registered Office – Your Company’s Official Address

This address will be your main company office base, and can be any UK address that you use. Most small businesses will operate and trade from just one address, but your company does not need to trade from the address you choose as your registered office.The address you choose to register should be an address that is staffed frequently so that all important and essential mail coming from HMRC and Companies House will be attended to right away. This address will also appear on the public register, so anyone looking for your company address will see your registered office address on display. Because your registered office address will be on display to the public, like many other company directors, you may prefer not to register your home address as your registered office.Capital Office offers a registered address service where you can have your registered office listed, and our mail-forwarding service will ensure that any mail sent to you at this address is sent on to an address of your choice promptly. You can find out more information about our registered address service on our website.

Your Company Directors

When you form your company, you can register as many directors as you wish, but you need at least one person to be appointed as a director at the time of formation. The directors are the people who run your company, so if you want to form a company and run it with three of your friends for example, you can register yourself and your three friends as company directors. This does not mean that you cannot add any more directors further down the line, so in the future you can appoint more directors if you want to.To appoint a director you need the following information from them: Their full name, their occupation, date of birth, nationality, home address, and their service address. The service address is the official address that is listed on the public register, in a similar way to the registered office. Again, many directors may not want their home address appearing on the public register, so they may choose to register their service address as the business address.

Your Shareholder details

Shareholders are the people who actually own the company through their shares. When you first form your company, you can form it with just one single shareholder if you so choose. The shareholder can also be a company director, so you can form your own company with just one person who takes on the role of director and shareholder.To register your shareholder(s) you will need the following information from them: Full name, service address, town of birth, eye colour, phone number, number of shares to be held, currency of shares, value of shares

The Memorandum and Articles of Association

Put simply, these documents outline how you will be running your company. There are many templates you can use to draw up your documents, and Capital Office can provide free support and advice via telephone, email and our website chat portal to help you with this if you need it.All companies are formed at Companies House through the UK’s registrar of companies. You can register your business online directly with them for a £15 fee. Many people new to company formations find it much easier to register through a formation company such as ourselves, and our formations packages start from as little as £10.99 – including the fee from Companies House!So you can see from the information above just how quick and easy it is to register your own company. The process is so easy that you can be up and running after a few short hours.

The virtual office service continues to grow worldwide.

According to the latest survey by Staples, 56% of entrepreneurs and managers of small businesses are using virtual office technology, spending less time in shifts or working from their conventional desktop.Technological development today manages communication platforms where entrepreneurs from virtually anywhere in the world are connected to their staff and retain a core that keeps in touch with customers and suppliers at any time without losing a single contact. A virtual office can help business with key areas of their operation, which can include mail forwarding addresses to professional telephone answering services.Thanks to the technological potential of intelligent mobile phone users, live virtual office services can literally connect to their customers and suppliers. They can also easily link them to provide these devices which allow them to have permanent access to the network. Through a professional virtual office service, it also provides them with fully adequate physical spaces to attend their meetings and appointments as if it were their own office depending on their needs.

Stay Connected

Through virtual office services, people not only have the ability to better manage their professional time, but additionally may also devote more time to their family. According to a Staples survey, 52% of employers feel calmer taking a holiday, because they know they can stay connected to their business.As for the impact on mobility, the amount of displacement of an employer from a physical office and their home is practically reduced by 95%. This allows users of this service to take the time spent commuting to instead conducting entrepreneurial activities during working hours and a better quality of life in their free time.

Cut the Carbon Footprint

By managing their professional services from home, virtual workers not only optimise their time, but further substantially reduce their carbon footprint, minimising their environmental impact as a result not only of displacement but by reducing the consumption of energy and water.The power savings by incorporating a virtual office service is close to 90%, as employers eliminate all costs associated with the adaptation and equipment of a conventional office, which also has a positive impact on the environment in terms of reduction in the consumption of furniture and architectural finishes; much of the carbon footprint generated on the planet is directly related to the processes of construction and remodelling, according to figures from the World Resources Institute.All these advantages make the virtual office of today, ideal for companies and entrepreneurs from all sectors with flexible work schemes, while having a positive impact on the environment and office productivity.The ability to link electronically means virtual office workers have new possibilities in the way they carry out their work. This ability has even made it unnecessary for the office work to be performed in an office. Instead, it can be achieved at any place where the worker is located, provided that they can be networked and communicate electronically.

Among the advantages of the virtual office:

• Lower installation cost. Companies do not have to have an office with as much space. This is because some workers are elsewhere, other than at the main office. This reduces the cost of rent and/or the expansion of a common office.
• Lower cost of equipment. The companies, instead of providing office equipment to each employee, can share much of the equipment. This is similar to how LAN users share their resources with those who are doing their job ‘away’.
• Prestigious Location for your business. Build client trust and brand reputation by showing a central London office address for your business.
• Formal network of communication. Due to the need to stay informed and receive instructions, companies are giving more attention to having a communication network, thereby leading to the development of better communication among workers.
• Fewer work stoppages. When storms, rain, flooding or other inconveniences hit, including diseases, preventing workers from moving to the workplace, the virtual office makes it feasible to continue with work activities, by both the individual and the company.
• Social contribution. The virtual office allows companies to hire workers who otherwise would have no job opportunities, whether they are disabled, elderly or parents with young children. This also includes high-value employees geographically located away from the offices of the company.

But virtual offices also have some disadvantages that must be considered, among which are:

• Sense of isolation. With no regular contact with other company employees, they lose the feeling of being part of a job
• Fear of job loss
• Decay in the mood
• Family tension

All these disadvantages of the virtual office are related to motivational and psychological aspects, which is why companies should pay special attention to both the stage of selecting candidates to work as teleworkers ( workers in virtual offices ), and the activities of support, feedback, motivation and communication.In an increasingly competitive environment, the virtual office offers the possibility to expand the scale of activities with a less than proportional increase in cost that growth usually entails. The virtual office provides benefits not only for companies in the field of services but also to manufacturing companies throughout, with regards to office work.