When you’re starting in business it’s important that you get the essentials right. WSX Enterprise (formerly Business Link) has designed a comprehensive, two day course that provides information and guidance to help deal with the key issues that are going to be fundamental to the performance and success of your business. They are delivered by experienced trainers – real business people who will give you the opportunity to ask questions and invite discussion. The courses are provided for people planning on starting a business or those who have recently started.
Topics covered on the ‘new in business’ course include:
Day 1 – Business planning/Legal/Tax
These are the practicalities that will bring your idea to life. You’ll be shown how to draft a business plan, think about premises or working from home, and comply with legislation. You will learn how to run your business in a legal and ethical way and, most importantly, understand the key reasons why businesses fail and make sure you don’t make the same mistakes. You will learn about:
- ‘What is’ and ‘why complete’ a business plan? What should a business plan contain? Who is it for?
- Legal status. Sole trader, limited company, partnership etc. Which is right for you?
- Reasons for failure and importantly, how to avoid the pitfalls.
- Business names. Choosing the right name for your business.
- Income tax and National Insurance. Registering with HMRC. Understanding tax responsibilities.
- VAT. Should you or do you need to register? Advantages and disadvantages.
- Health & Safety. Your responsibilities. Policies and risk assessments explained.
- Employment and consumer law. An introduction to the legislation that may affect your business.
- Insurances. What are the risks? What insurance cover should you consider and what is required by law?
- Marketing. How to research and plan. Profiling your customers. Know your competition. Where to advertise?
Day 2 – Pricing/Selling/Cash flow/Records/Banking
Without sales you have no business, and this day will explain how to effectively promote and sell your product or service - the importance of cash flow forecasts, maintaining records and book keeping, financing your business as well as reviewing and presenting your business plan. You will learn about:
- Pricing and promoting. Determining the ‘right pricing’ for your business. Marketing plans and strategies.
- Customer service. What it means to you and your customers. How to ‘delight’ your customers.
- Website design. Knowing your target audience. Site content and structure. How will you update and maintain?
- Social Media. How can social media benefit your business? Is it appropriate for your business? Which to use?
- Selling. The importance of good product/service knowledge. Sales interview techniques. Knowing your customers.
- Profit and loss/Break Even. Crunching the numbers. Gross profit/trading profit.
- Capital Allowances/Expenses. What expenses can you claim? Working from home? Travelling costs?
- Book-keeping. How is your business doing? How much can you draw? Completing tax returns.
- Invoicing and financial management. Terms and conditions. Maintaining records – keeping it simple.
- Financing your business. Exploring the finance options. Reviewing and presenting the business plan.
For course or booking information, please call – 01202 607541 or alternatively e-mail chris.darlow@wsxenterprise.co.uk
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