Business plans are key to entrepreneurial success

New research from the University of Edinburgh Business school and RWTH Aachen University shows that entrepreneurs who write early stage business plans are 16% more likely to succeed.

The report examined more than 1,000 start-ups and the progress made over a six-year period. Conclusions show that entrepreneurs focused on high growth were significantly (7%) more likely to commit their vision to paper early on than their peers.

Early stage business plans are essential for success and start-ups that are successful in their quest to secure funding are more likely to plan ahead.

Read the article on full on the Turner Little Blog.

Government gives small businesses more time on tax changes

Addressing concerns about timescales, the government has pulled back on the Making Tax Digital initiative, which aims to shift all tax records and payment online. They have now said that the three million small businesses affected by the proposed changes will be able to move over to the new online tax system at their own pace.

It’s likely to be a big relief for the small businesses affected by the Making Tax Digital government initiative.

5 reasons to open offshore bank accounts

If you’ve always thought that off-shore bank accounts don’t sound quite legitimate when it comes to holding your savings and assets, you might be surprised.

There are many reasons why opening an off-shore bank account could be the right choice for you. To explain a bit more, we’ve come up with five reasons why you should open your own off-shore bank account.

Read the full article here.

Eight very good reasons to start a business after graduation

If you’re facing finals and not sure what to do next, or just starting your degree and already planning your future, have you thought about starting your own business?

A couple of decades ago this wouldn’t have been seen as a viable career option for most graduates, but it’s become really popular for a huge number over recent years. Here’s our eight reasons why you should start your own business when you graduate…

Read the full article on the Turner Little Blog.

Alternative Business Finance: What Are the Options?

Traditional forms of lending from banks are declining when it comes to business funding.

A dramatic change in the ease of access to business funding occurred following the credit crunch in 2007. Ten years on, it’s still extremely difficult for many start-ups and early stage firms to access business loans the traditional way.

The government has recently forced the banks to tell borrowers about alternative lending options if they won’t dispense business loans themselves.

Turner Little look at different ways to secure finance.

How Do You Open a Commercial or Business Account in the UK?

It’s simple to open a business account, particularly if you have a good understanding of everything you need to provide. Collecting the correct documents and information will make the process even smoother. Here’s a rundown of what you need.

Turner Little run through what you need in our article How Do You Open a Commercial or Business Account in the UK?

When Should Your Hire More Staff At Your Small Business?

If you run a small business, as your company grows you will need to develop a skilled team to help your company thrive. But it can be hard to implement a robust hiring policy, without cutting too deeply into your cash flow, depriving your business of the capital it needs to function day-to-day. Helping you navigate this issue, Turner Little asks: when should you hire more staff at your small business?

Read our advice on when to consider hiring new staff on the Turner Little blog.