Join the British Library for Free Business Advice

Ever thought of going to the British Library to do some market research? Since 2006, when it launched its Business and IP Centre, it has been an ideal venue for business information for entrepreneurs with easy access to London. The centre was set up to support and assist them right through from the spark of an idea, to setting up a business and developing it through successful growth.

Free to Access

All you need to do is turn up with documented proof of your address and your signature and request a reader pass which gives you access to all the library services, including the Business and IP Centre. You don’t even need this to book and attend a workshop, but you would need it to access the research and other facilities.

The Registration Office, where you can get your reader pass, is on the upper ground floor of the building, and the Business and IP Centre can be found on the first floor.

Services Available

For your research, the centre holds a vast collection of databases and publications that give comprehensive coverage of topics that might be needed. Staff members are at hand to help you through the maze of information to find what you seek as quickly as possible.

Networking events can be used to meet like-minded people and develop business opportunities. You can even hold follow up and other meetings in the library.

You can also arrange one-to-one sessions with successful business people who can offer advice gleaned from their own experience.

The centre’s regular programme of workshops and seminars is free unless a small fee is required for a partner organisation to come in and run it.

The Web in Feb Programme

Through February 2012, a series of events has been planned with a focus on getting the most from a web presence with e-marketing and on-line trading. The Web in Feb programme includes workshops on search engine optimisation for the small business, effective business blogging, managing a web-based business, and using social media effectively. Costs vary from free events to the most expensive at £49.

The centre has also arranged for a patent lawyer to be available through the month for confidential one-to-one sessions about developing the necessary technology.

Whatever stage you are at with your business, it would be likely to benefit if you can make time for regular or occasional visits to the British Library.

Is your Business Prepared for Bad Weather?

In 2010, the serious snow and icy weather came before Christmas and many businesses were adversely affected. So far this winter we’ve had some bad storms but only a few areas have seen snow and ice. But it could still be on the way.

If it does arrive during the latter part of January or in February, will you and your staff be able to get to work? Will roads be passable? Will schools close so that parents need to be at home for their children? Will anyone suffer injuries in falls and have to take sick leave? How would you feel if that happened because of slippery conditions on or just outside your premises? Could your business survive having to close down for a period if power was cut or no-one could get there?

How can you prepare for all or any of those eventualities? And what is it all going to cost you?

Contracts, Policies and Regulations

What it will cost depends partly on the expenses of getting prepared, partly on how much business you lose, and partly on what you must pay your staff in a period of inactivity.

If you already have HR policies in place to deal with adverse weather conditions, you may just need to remind personnel about them via a notice board, your intranet or face to face meetings. They need to know who to contact if they can’t come in and how to get in contact if your landline isn’t working. Some staff may be able to work at home, or come in for fewer hours than normal. You should also have arrangements in place to contact all of them if you have to close down.

Preparation costs may include supplying equipment for home work, which will require funds and should be carefully considered to see if it will reduce the loss of business enough to be worthwhile. Other funds might be needed for stocking up on rock salt and paying people to make car parking and pathways safe and avoid nasty falls on your premises.

Unless contracts of employment state otherwise, regulations require you to pay staff members who are available for work while the reasons for non-attendance are outside their control. Anyone who must care for dependants at home is entitled to unpaid leave, and it is up to you whether you are prepared to pay them anything. They may be able to make up time over the next weeks, in which case you wouldn’t be out of pocket eventually and it could be a good gesture where morale and loyalty is concerned.

Checking Cashflow and Budgeting

Clearly you need to check your cashflow projections and prepare a budget for all this. Your outsourced bookkeepers are the ideal people to help you with that side of the preparation.

Get Your Personal Tax Return in on Time

Yes, the deadline is almost upon us. If your on-line tax return and payment doesn’t arrive at HMRC by January 31st, the initial penalty of £100 will be levied. Greater amounts will soon accrue and could add up to £1,300 over six months. And that doesn’t include the interest that will be added to the tax due. Clearly it makes sense to submit and pay on time.

Get Ready - and Go!

Hopefully, you are already registered with HMRC for on-line self- assessment. If not, get to it right away at http://www.hmrc.gov.uk/sa/. It will take a few days to receive the activation code you need to access your tax return.

Collect together all the information you need to complete your return, such as
· P60 or P45 (Part 1A)
· P11D or equivalent information from an employer
· Profit or loss accounts
· Records of business receipts and business expenses
· Letters received from the Department for Work and Pensions
· Notices of tax coding for 2010-11 and 2011-12
· Details of pension contributions or receipts
· Details of gift aid payments to charities.

You are now ready to start your submission, unless you need professional help with anything unusual that happened during that tax year. In that case, hopefully you have already accessed the help you need from your accountant or via your local bookkeepers.

When you click on submit your tax return, you will be guided through the HMRC software on the site. You don’t have to do it in one sitting. If you need to leave it, the software will save your data until you log on again.

Pay Attention to Accuracy

When you submit on-line, make sure you haven’t made any mistakes before clicking that submit button. Transposing numbers, such as 150 to 510, could make a significant difference to your tax liability. If you have a paper copy of the return from the revenue, it might help to fill that in so you can copy it on-line. If you do find an error after your return has been submitted, the revenue will allow you to resubmit an amended return, but only until January 31st.

Getting someone else to help you check it also makes good sense. An obvious choice for this, or to help in any way you want with the submission, would be your outsourced bookkeepers. Many of them, including Office Assistants, offer a far wider range of services than just keeping the books for you.