Are SMEs ready for the cost of a cyber-attack?

Research from PolicyBee has found that 75% of SMEs have no budget set aside to deal with the potential consequences following a cyber-attack.

The study was commissioned by cyber insurance expert Sarah Adams, who says: “Cyber-attacks are not just an IT problem as they could impact sales, customer relations, reputation and a business’s bottom line, especially if there are legal ramifications or regulator fines.”

Read the article in full on the Turner Little Blog.

Six marketing tools SMEs should use

Starting up a small business inevitably means you don’t have much time or money spare. This is why marketing can often fall by the wayside.

However, establishing your brand is vital if you want to seriously compete with more long-standing companies and services. Luckily, there are plenty of online resources available to help small businesses manage their brand, marketing and PR.

Read about six tools well worth looking into on the Turner Little Blog.

Using SEO to attract clients to your local business

To run a successful local business, you need determination and hard work as a minimum. You also need to offer high quality services or products and be competitively priced.

In addition, you must have an up to date website presence, with your customer name, address, opening times and phone number easily accessible. As a local business you are relying on customers who are searching for specific items in their specific location.

This means that you are competing against huge internet companies like Amazon who can deliver anywhere, and other local niche businesses in your area. In order to increase your profits and attract the bulk of the local custom to you, your business needs to work harder – and smarter. This is where SEO comes in.

Read the full article on the Turner Little Blog.

How to fund your small business without a bank loan

Many entrepreneurs are increasingly seeking out alternatives to bank loans to kickstart their business idea. Here’s our round up of some of the alternative forms of funding available.

Government Start-Up Loan

If your business is either brand new, or you’ve been trading for less than 24 months, you might be able to secure a Start Up Loan backed by the government.

Start Up Loans are unsecured personal loans of amounts up to £25,000. The loan must be used for your business only, and is repayable at a fixed interest rate of 6%. To find out whether you are eligible, check online.

Overdraft from the bank

A bank overdraft can be handy for businesses that have uncertain income streams. It provides fast and flexible cashflow when you need it. Using it sensibly can pay off. For example, you should use it when income is less steady and then as soon as business picks up, pay it off.

Many banks only charge interest on the amount that is overdrawn and some offer specific packages for new businesses. Be aware that interest rates on bank overdrafts are generally above base rates of interest.

Read the full article on the Turner Little Blog.

It’s easier than you think to start a business in your 50s

If you’re over 50 and are put off starting a business due to your age, then think again. Over 50s account for almost 45% of new businesses started up in the UK, according to figures from the Office of National Statistics.

Read the full article on the Turner Little Blog.

What tax implications should start-ups be aware of?

There are certain questions all start-ups should ask themselves before they launch, and many of these revolve around tax.

Entrepreneurs can underestimate the tax implications that come with running a new business. Here are some key questions that should be considered.

Read the full article on the Turner Little Blog.