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Whatever your business ambitions, this site will offer you the information, advice and guidance to develop your skills. Whether you want to start your own business or get ahead in your corporate career, we offer you the information you need. We will cover the steps you need to take to start your own business, and guide you through the process. Even if you don’t have ambitions in that direction, the insights you gain will help you to understand why the business you work in is a structured in a certain way.
Topics covered include;-
- How to carry out Market Research
- How to Develop a Business Plan
- Structures of companies
- Duties of Directors
- Raising Finance for your Business
- Managing Cash Flow
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Example Lessons
Is Location Important
Is Location important when starting a new business? Answer In short, the importance of location cannot be overestimated. It is often crucial to a company’s success There is a maxim for retail that says the three most important factors are “Location, Location, Location”. At the time it came into being it meant that the shop…
About this lessonI want to start a restaurant business
Can you write a business plan for me? I want to start a restaurant business and then grow the business into a large chain. Answer The best person to write a business plan is the person who has conceived the idea, because they know what their plan is for the business. If anyone else such…
About this lessonHow to deal with a negative team member
I need a guidance on how to make a good decision as a supervisor. What would be the wisest way or attitude towards a worker who always is ignorant or always with a negative mind and keeps communicating or discouraging others about the workplace. Thanks, and Kind Regards, Elder Answer Dear Elder The role of…
About this lessonHow to encourage someone to pay fees
How do you deal with parents who owe a teaching institution money? I always wonder what words to use. I have used the following already: kindly settle your balance before Monday….etc. Lydia Answer Hi Lydia This is always a difficult situation and I guess many of these parents would pay if they could, but do…
About this lessonSupervisor and Performance Management Quiz
This quiz is designed to test your knowledge of these modules of the “Workplace Stress Management” lessons in the Management Skills Courses, specifically;- Role and Responsibilities of Supervisors What does it mean to supervise? What skills does a supervisor need? The “Added Value” of the Supervisor Designing a Performance Management System Writing a Job Description…
About this lessonOrganisational Skills Quiz
This quiz is designed to test your knowledge of these modules of the “Managing People” lessons in the Management Skills Courses, specifically;- Organisational Skills Organisational Psychology Organisational Development Organisational Politics There are ten questions some of which are “tick all that apply “, and others are True/False. You can navigate backwards and forwards to review…
About this lessonResearch Quiz
This quiz is designed to test your knowledge of these modules of the “Research” lessons. There are ten questions some of which are “tick all that apply “, and others are True/False. You can navigate backwards and forwards to review your responses by using the appropriate buttons. The pass mark is 70 out of a…
About this lessonCloud Technology Quiz
This quiz is designed to test your knowledge of the contents of the Cloud Technology Course, part of the Management Skills series of courses. These quizzes are designed to improve your Management and Business skills. There are ten questions some of which are “tick all that apply “, and others are True/False. You can navigate…
About this lessonManaging Sales Staff Quiz
This quiz is designed to test your knowledge of the contents of the Managing Sales Staff Course, part of the Management Skills series of courses. These quizzes are designed to improve your Management and Business skills. There are ten questions some of which are “tick all that apply “, and others are True/False. You can…
About this lessonHow to Carry Out Market Research
Get the inside track on how to commission or undertake market research to help you plan your business .You will learn the issues to consider, the questions you need to ask yourself and others.
How to Develop a Business Plan
Learn how to develop and prepare a business plan. This a good discipline in itself, it forces you to consider all aspects of the planned business, and will be is a key document that will assist with your presentation to potential banks, lenders and investors. They will need to have evidence that you know what you are doing and have a robust plan in place. When institutions consider financial applications, they want confirmation of a strong business plan, good cash flow management, a well-balanced management team and a strong balance sheet. A business plan is vital to demonstrate all this.
Structures of Companies
You will learn about the different types of company structure that exist, and their relative advantages and disadvantages. Armed with this information you can select the correct structure for your business. It is important to get this right because the legal structure of the company determines the personal liability of the directors and their ability to raise finance for the business. It also has an impact on tax liability and reporting requirements.
Duties of Directors
Directors have certain statutory duties to perform. They are personally liable for their actions and may be disqualified from their role as a director of a company if they infringe the law .They can be personally liable for the company’s debts. Their responsibilities include ensuring that the company trades lawfully and is compliant with legislation and regulation. They are responsible for the management of the company within its own Articles of Association. And the local legal system.
Raising Finance for your Business
You will read about the traditional funding routes and consider Angel Investors and Crowd Funding. Potential investors need to know that their money will be invested safely, and you will need to demonstrate that you have researched the proposed business thoroughly and can convincingly “pitch” your product or service. They will want to understand the potential risks and returns of investing with you.
Managing Cash Flow
This is a crucial process, especially for a new business. The number one reason for business failure is lack of cash to cover rent, salaries, and other bills, and will force many businesses into liquidation. Profitability is important in the long run, but in the short run, cash flow has to be very carefully managed.
Read our tips – then you can take a proactive approach to managing debtors. You will know how to keep credit management a priority.
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