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Make yourself different from the competition

The goal of marketing is to create difference in the eyes of your prospects. In today's world of business, in each market segment and any line of business, there are multiple vendors (i.e, several companies offering the same thing). The real goal of marketing therefore, is to make a difference in our favour. Marketing must not only project our image and let us know about the prospects that interest us, but clearly communicate why prospects would place us in the forefront of their mind. Also, it`s key to understand how we are different from the competition.Competitive advantage is the real difference, but must be sustainable. We must provide a real value to our customers, but do this realistically and within budget. Though we identify points of added value that differentiate us from the competition, we must be careful in two respects: Are they elements of differentiation relevant to my customers? Which elements of differentiation are sustainable in the long term?Once we identify and / or develop a true competitive advantage, it becomes the backbone of our scheme of persuasive communication: our marketing will refer to it, our sales arguments and the way we sell will mention it; our customer service systems will focus towards nurturing that advantage. Moreover, we can guarantee it in writing, and that trust of our prospects will allow us to get more sales.If we do not yet have a competitive advantage for real, it's time to ask yourself some necessary questions. Another differentiating factor is therefore security writing. A written guarantee for any returns or defective products will give greater confidence to our prospects and customers, as they will have evidence that we stand behind the product or service you sell. If we offer a written guarantee, written on clear and objective terms, determining the scope and restrictions (it's a good idea to review this with an accountant), it becomes a good tool to attract prospects and convert customers.Another key to successful marketing is to identify the appropriate target market for our product or service. Even if all persons or companies could buy what you offer, you need to focus your marketing to be successful toward that target group that is in need of the goods or service that you sell. Who can afford it? Who can give you the volume and profitability?If you properly identify the market, then you should focus on developing the competitive advantages that the market appreciates. Look into the values and then communicate them effectively, knowing the ways to sell successfully, without having to be the cheapest.For example, consider a laundry and dry cleaning business operating in an area with a high incidence of young households with working parents on adequate incomes. If you can offer ample parking, along with a fast delivery service treatment and care, you can have a successful business. Furthermore, your customers will value the features of your service and your attention, looking beyond the price, and you will have created a competitive advantage. Which actions can you make in your business and in your life, to get ahead of the rest?Are you starting a new business, Your Virtual Office London has helped many business become successful with help from our professional services. We provide virtual office, business support, company formation and banking solutions for all our clients. If you would like more advice please do get in touch with our team, we are always happy to help.

In this article we will solve some common scenarios with share certificates, which often cause confusion.

Which share certificates are required to be issued after the transfer of shares?

Firstly, it is a basic requirement that the transfer form (form J30) be completed by the current and, if necessary, the new owner, and then certified by HM Revenue and Customs. The document fee must be paid to HMRC buyer of the shares.Upon completion, the company will receive a stamped transfer form and the original share certificate. Then you must check that the details of the holding company are the same as those in the register of members of the company. If all goes well there, registered members can be updated to reflect the transfer of shares.It is good practice to eradicate or write "Cancelled" to clear the old certificate with the date. If the transfer is only part of the owner`s shareholding, then they will need a new certificate representing the decreased holding.The new certificate with a unique number must be given to the person receiving the shares within two months of delivery. If the shares are divided between two or more different new media (e.g., half are sold to one person and the rest to another), each of them will seek confirmation of their participation. But, as mentioned earlier, there is no reason to send multiple certificates for common interest.If the company does not issue shares within the above notice, the new shareholder of the company has not fulfilled its obligation by law to do so.

Replacement share certificates?

If a share certificate is destroyed, lost, stolen or damaged, the shareholder's have the right to seek and obtain a replacement certificate of shares in respect of the shares covered by this certificate.The process to be followed depends on whether the person is still certified. If the certificate is still owned by members, then it must be returned to the Company. The old certificate will be cancelled and the new one issued as described above.If you do not have a certificate, it is common for a company to inquire about the circumstances of their loss. It is common practice to issue the certificate, only if the shareholder has a complete form of indemnity.If it is found subsequently, then the old certificate must be returned to the company. This condition will be included in the form of compensation to shareholders.

The question of Indemnity

This confirms that the shareholder is the beneficial owner of the shares covered by the certificate and disclaims any responsibility to the public which may arise in connection with this. By signing the application fees, the shareholder, even if it is dependent on the original certificate to ask the company to replace another, and the company suffers financial loss, will cover the losses. If the amounts are large, the fee should be signed by a bank or insurance company.

What happens if you change the name or address of shareholders?

If you vow to change their name, they are often looking for new share certificates. Prior to the issuance of a replacement, companies must seek evidence of any name change. This usually takes the form of a marriage certificate or deed poll equivalent. When you have evidence, and the release of a replacement share certificate with details of the changes is given, it is also important to update the member`s register with new details.It is not usually necessary to replace share certificates if the registered shareholders change their address. However, the membership register can again be updated with the new address.Your Virtual Office London can help your business become a Limited Company, if you need help or advice our team can provide the expertise your business needs. We are based in London and are happy to arrange a face to face meeting where we can discuss your specific needs and requirements.

If you are a small business owner and operator, especially if you are what some people call a solopreneur (where you are the sole owner and sole employee of the company), then you are bound to have a lot on your plate every day. Time is always of importance; there are not enough days in the week for everything you have planned. To spend even a lunch or a few hours in the evening with friends and family becomes increasingly difficult and the idea of having the time to sort out the taxes of the company is something like a pipe dream (or even nightmare for many of us!) Technology is something that can be given to small business accounting as a fresh concept.However, the sheer volume of numbers and percentages is not in the interests of your professional life, even with the support of computer software and smartphone applications that can be used. All you can find yourself surrounded by is often unclear instructions and the sense of being overwhelmed by all the efforts it takes.

Going Solo

For some people, small business accounting, can take a long time to adjust to. It may take technology or expert advice from friends or family, or previous experience in this field in general, but some entrepreneurs have managed to make it work more than others. Is this is a good thing? This is a difficult question, as the time these small business owners spend on record keeping, accounting and tax filing can very well be used for the expansion of business networks and personal growth.

Hire an accountant

Whether your business is ready or not, you might consider hiring a professional small business accountant. It frees up more time for the important and urgent issues – after all, you are an owner who has to work! But at the same time, hiring a full time in-house accountant can also be a serious drain on your budget. Are you ready? Do you really need someone to be there forever, even when there is little or no work for them to do?

Workforce

Perhaps the logical answer for effective growth and stability comes from outsourcing your small business accounting. Now, this used to be too difficult to design and was an arena filled with doubt and stigma. However, it is the way that more and more business owners choose nowadays when considering the needs of its accounting.An accountant using outside resources will not be used for the time when there is little or no accountability to speak of- at the same time, they will be priceless when the tax issue permits, or needs modifications or other complex structures. Knowing that your accounting matters are in the hands of an expert, you can finally focus on doing what you love, which is to work towards greater prosperity and the growth of your company. Your small business accounting and fact-based decisions will help you achieve your goals faster.Your Virtual Office London help many small businesses get up and running, from virtual office &mail forwarding address, too accounting and banking services and introductions. What ever the need we can help your business, get in touch with us today to see what we can do for you and your company.

Paying tax is mandatory for everyone, whether you are an employer or an employee of any company or establishment. This is not only because it is a law, but it is also your duty. In fact, you are helping yourself and the citizens of the nation by paying taxes on time. The total sum that is received by the government in terms of a tax amount is to be used for the welfare of the country. Everything that is done in favour of the public revenue is matched with the tax amount. So in order to make your life and the life of the citizen more comfortable means you have to pay tax to the Government in time. But if you're facing tax issues?Contacting or consulting accountants is always great for better assistance on paying taxes. These consultants help on tax issues related to you and always provide the best solution. They have efficient knowledge of your field and look for the best way of taxation for their customers. In addressing these professionals, you will get to know the exact amount that must be paid by you and become clean of all types of information. This will also help to make your business stronger and free of legal problems for a long time.In addition to the best knowledge and assistance, these services are chosen to keep the cash flow easier and investing in them for maximum benefits. Such services are provided by professionals who have years of experience in their field and sufficient knowledge of the exchange rate policies. They will also inform you about the benefits and tax amount without confusing you unnecessarily.Therefore, it is recommended that you always look for the best company to get assistance for different types of problems related to taxes and issues. These consultants will also help you manage your foreign currencies and in keeping your investments safe and secure. But, before approaching these companies, you should check out the previous work done by the company, and the company's reputation in the market. These things will help you to approach the best companies to get the best solutions.Your Virtual Office London are leaders in virtual office and company formation services. We have helped many small business and start ups become successful through the use of our services.

The director and the company secretary will usually change the life of a company. Changes can arise however, for a variety of things such as:

• Reaches retirement;
• The director's death
• Resignation due to prolonged illness;
• A director resigning to move to a new job;
• A disagreement that leads to corporate shareholders - for example, where the main shareholders re-appoint a director or a vote to remove a director from the company;
• Not seen as suitable as a leader.

How do I resign as a director?

In the first place to find answers, is the director`s service contract. This will help in answering questions on resigning as a director of the company. There will be both a time of notice needed, as well as other procedures.If the service contract is silent, the company's Articles of Association is a good guide on director resignations. Sometimes, the company board may be needed to approve of a resignation leaders - that can create unforeseen issues for small companies that, especially where there is some problems among the board.

It is a duty for the company to tell Companies House

In some circumstances, the director may also want to send the notice to the company registered office address - this will be useful where the content is or when the director believes that the company will soon update its records and notify Companies House of resignation. It is necessary to remember that it is a duty of the company, not the resigning director, to inform Companies House.

When a director resigns, they will usually have to think about other issues, such as:

• Is he or she a shareholder? If this is the case, then it is best to check for an agreement under the Articles of Association if the shares can be transferred.
• Have there been loans made to the company and need to be cleared?
• Does the company owe the leaving director any amounts?
• In many cases, the leaders (as well as the company) may seek legal advice on the matter.

How does the company manage after the director leaves?

The Director shall be required to serve a period of three months or more, and therefore the company will have plenty of time to become familiar with the change. However sometimes, for example, it can be quick and unexpected – take for example a sudden accident or death. Guidance and planning is therefore necessary for the company and it is best if this can be achieved in a way any disruption to a minimum.

When a director leaves, the company will need to consider:

• Will the work be covered appropriately in the interim period?
• Leaving agreement requirements;
• If the resigning is stop all work with the company directly or to go on leave indefinitely;
• Making it known to the bank and removing the director of the bank`s details and other mandates;
• Letting the staff know, as well as suppliers and customers;
• Letting Companies House know of the change;
• Talk with the officers' liability insurers;
• If the person is a company secretary, then there will need to be a change to the role;
• If this person is the only director, then a change will soon need to be in line with the needs of Companies Act 2006.

The company must report to Companies House within 14 days. Whatever outcome for the company, there must be communication with Companies House within 14 days of the date of their leaving. This is done by the showing forms TM01 for directors or TM02 for the company secretary.If you would like to discuss your company formation needs please contact Your Virtual Office London today. We have a wide range of industry experts who can help discuss any of your business needs, we have developed a broad range of professional services tailored for the start up business.

The area of public liability insurance can take on specific requirements, so if you`re not sure, then you should contact your local authority.For many industries, though, some customers or clients will need to be presented with proof of public liability insurance from yourself. When working with local authorities or other government institutions, this type of insurance is particularly common. Local authorities often require a minimum of £ 5 million of public liability cover.

The level of public liability insurance cover

Determining the level of cover required by insurance companies or insurance brokers can be difficult to determine. It depends on:

• The nature of your business;
• Members of the public and the dangers posed to your business premises and operations;
• Size or turnover of your business;
• The type of customers;
• The number of people you employ;
• Your insurance claims history.

These factors will also affect the cost of insurance

Reduce the likelihood of a claim and therefore carry out a proper and regular risk assessment to help keep the cost low. Minimise the chance of accidents by taking appropriate controls and have regular risk assessments completed and put in place.

Why insurance?

Everything is always understood and under control, even when business customers, visitors or others are involved in an accident that causes injury or loss of earnings. Should such an accident occur in which your business is responsible and you are not insured, the costs can be significant. If your business is unable to meet the expenses, it also gives you a bad name, and it may be hard for you to find new business in the future.If you found this blog interesting you can read more interesting and informative blog posts in our Your Virtual Office article archive library.

It could be said that the audit report is the most important aspect of the entire work process. You may have selected the correct area, evaluated the results effectively, analysed in depth the controls and recorded results elegantly in referenced work; but if the report does not reflect this excellence, you will not get the desired success. The internal audit report is perhaps the only tangible product that management can see in the work of this department.If you want to significantly improve the quality of your reports, apply the following tips:

1: Be Brief

The Brevity is probably the main key factor or characteristic of an excellent report. Brevity is not only about the number of pages to include in the report, but also to present only those aspects that are crucial for the user using the fewest words possible.

2: Highlight the Main Message

Readers prefer that the main message is placed first, and then read the reviews, details and explanations that support the main message. Studies on comprehensive reading support the basic principle of placing the main message first. These studies show that users absorb more information and better remember the details when the key message leads writing. The structure of the report should be developed intentionally and openly to push the main message forward.

3: Divide the Report Sections

Many users do not read the full report. They jump and fly to certain sections of the report, seeking the information they need. The high-level users read the opinion (or conclusion) and stop there. Depending on the severity of the issues, the manager`s responsible for the area under review, the opinion, observation posts and recommendations - but could not read the comments completely.Readers are selective, so we should not view the reports as a continuous text, but as a series of layers or sections. Each section allows the reader to delve into more details and explanations, depending on your needs. A high-level message must lead each section. Then continue the supportive comments, summary`s and details.

4: Present a Clear Conclusion

This is essential. You need to ensure that the reader clearly understands what you think about the effectiveness and efficiency of the area under review. The need to develop a statement of opinion and being concise is the best way to achieve this goal.The findings may relate to the whole area of work or only certain aspects. They may cover issues such as determining whether the goals and objectives of programs and operations are consistent with those of the organisation. The opinion may include an overall assessment of controls or may be limited to certain controls or aspects evaluated during the internal audit work. For more expert advice on this, you can speak to an accountant today, Your Virtual Office London work with experienced and qualified accountants who are able to help with such important matters.

5: Effective following up on corrective actions

A draft internal audit does not end until the recommendations are implemented.The internal audit activity can be monitored effectively by receiving and evaluating:

• The management responses and the proposed observations and recommendations during the engagement or within a reasonable time after communication of the results. The answers are more useful if they include sufficient information to evaluate the adequacy and timeliness of the proposed actions.
• Periodic updates from management in order to evaluate their efforts to correct the observations and implement the recommendations.
• Information from other organisational units that are assigned responsibility for monitoring or corrective action.

In this guide, we take you step by step through the simple process of changing your limited company's name.Before filing a request to change the name:You first have to get permission to make changes before submitting the application to allow the change. A special resolution has to be passed, whereby all shareholders accept the change of name. This resolution is an effective way to formalise the approval of all those involved in varying degrees.1: You can customise and use the new name of the shareholder meeting to approve the name change. If you're a private company, it is necessary to organise a meeting of shareholders to approve the new name.2: After approval of the new name, change the name of the application you are ready to fill in and send it to Companies House. However, the implementation of this method takes a week or more.Instead, most companies now choose to apply directly online using simple dedicated solutions. Approval in general, just three hours on the Internet, the files can be obtained via Companies House. In just 3 simple steps you can complete and send the application directly, using the company's name change:3: Online applications are much faster and more reliable than the using Companies House via paper form. It varies depending on the number of applications received by Companies House at the time though - usually it can take just 3-5 hours for approval. This is to change the name of the company once the application is completed. Just remember to check the details before pressing "submit"!Getting started is easy. Just register for free, and then on the screen follow the instructions to complete the process of setting up your company. Changing this information is as easy as 1-2-3!Your Virtual Office London are a leading virtual office and company formation agent located in the heart of London, our services are designed for small businesses and new start up fledglings. Our wide ranging products have been expertly produced to help maximise the businesses chances of success in its early years of trading. Utilising our virtual office service can really help boost the chances of first year survival. Our corporate virtual mail forwarding address presents a professional image to your client, through use of a prestigious mailing address.A virtual office is a cost effective way of having a corporate address in London without the associated high costs of renting an office address. If you would like to find out more about our services please feel free to email or call our team, we are always happy to help.

If you've just set up your business, you should hold a board meeting of the new limited company. It is generally considered best to do this within a month of forming the company. As in all meetings of the board, you should produce the board minutes of the first meeting between the directors.The first meeting of directors should allow those present to discuss new commitments referred to in the Memorandum and Articles of Association. While there will be some similarities, the issues discussed at the first meeting of the board will vary between different companies. The following list, however, contains a number of issues discussed at a typical first meeting of directors:

• Appointment of Chairman
• The details of the formation of the company
• Disclosure by directors of the Company of any interest in contracts
• Appoint auditors
• Appointment of bankers of the Company
• Specify the date of the accounts
• Details of the initial capital of the company and the registration of members
• Register with HMRC VAT, payroll, etc.
• Other items of interest to the company
• Arrangements for the next meeting of the directors

It is a legal requirement to record what was discussed at the meeting and it is required as a formal record written over time. This document is the first minutes of the directors meeting.Although we must adapt our model of the meeting minutes to match the original contents of the first meeting of the board, you'll have a good idea of the kind of things that should be included in the following documents for minutes.

Minutes of the first meeting of the board

A copy of the minutes will be distributed to each of the directors present at the same meeting. Depending on the precise content of the meeting, there may be documents that must be filed with Companies House.You must be available for inspection at the registered office of the company (or single alternative inspection location if selected).Going forward, you should also make arrangements for the regular meetings of directors and for writing files, which will be generated for each meeting.Your Virtual Office London are experts in company formations, we offer specialist services for small businesses in the UK, Europe and the Rest of the World. Our services comprise of creating a London corporate business image, through prestigious mail forwarding services and business class call handling. Your Virtual Office London also provide other services such as fast track Barclay's business banking, company accounting and website design services for small companies. We have an experienced team on hand ready to take your calls, if you enjoyed our blog post you can find more interesting articles on our blog page.

When setting up a company with family or friends, it is easy to assume that in the future nothing can go wrong. We hope that in the future nothing can go wrong. However, family members and friends fall out, and if the worst should happen, you may end up with nothing.Therefore, you should focus on the business of the company in order to protect your own investment and consider the introduction of a shareholders agreement.As you might expect from an agreement between the shareholders of the company, it`s important to establish a reasonable relationship between the shareholders for its purpose, to help protect the investments of the company's shareholders.

The agreement will be:

• Sort out the rights and duties of shareholders.
• Control the company's shares.
• Describe how the company operates.
• Protect minority shareholders of the Company.

Without the agreement, minority shareholders (less than 50% of shares) will not have much control or say on how the company is run. There are laws that provide limited protection of minority shareholders, but it can be expensive to implement and would not achieve the desired compensation.A majority shareholder who wants to sell their shares may come up against a minority shareholder who doesn't agree. Therefore, the majority shareholder can force minority shareholders to sell their shares, known as a ‘drag along`. This is an important arrangement, but of course, the sales price and other fees for all shareholders, including minority shareholders, have to be fair.It is always a good idea to put together a shareholder agreement as early as possible, usually close to the formation of the company to avoid confusion. For everyone on board to have a shared understanding can really make all the difference further down the line.Your Virtual Office London are experienced company formation agents. We have been forming companies for over 40 years and have a vast amount of industry experience when it comes to the more intricate parts of limited companies and the best way to run them. A shareholders agreement is a very important document and we are able to help assist in the formation of a company and the creation of such mentioned agreements.