WHERE LOCAL BUSINESS GROWS

Writing a Business Plan

The business plan is a means to an end.  It forms a platform for the management or owner which forces them to think through all element of their business.  Whilst a good business plan alone can’t guarantee success, we can confidently endorse the over used maxim that ‘failing to plan is planning to fail.’

The plan will set out what the business is aiming to sell, who to, and where and how its customers can be found and reached.  It will also consider your competitors and their current approach.  It will also consider what resources (typically money, equipment and people) you will need and how much profit your business will ultimately make.

Don’t forget – profit is more important than sales, cash is more important than profit!

As straight forward as these statements sound it is the underlying content that separates one business plan from another.  Strong content will enable the plan to be used immediately from execution and should provide direction and clarity for the early stages of business launch.

Remember though that your plan should be a ‘living thing’ and should be up for regular review – don’t allow it to be forgotten and don’t stick to it for the sake of ignoring a developing opportunity!

Download a free business plan template from Yorkshire Powerhouse


Naming your business
 

Thinking of a good business name can be an enjoyable task.  It is something you can have fun with but there is a serious consideration to be taken into account.  This will be your projected image to the world and one of your primary marketing tools.

Inspiration can come from many sources – your own interpretation of what the business does, family and friends, a favourite brand – but its vital that you keep it relevant and that anything too ‘off the wall’ or abstract doesn’t get lost in translation.

The key is that the name has to resonate with your customers or target market.  It needs to create their initial vision of what your business does and the image it projects.  Your business name will be headlining all your promotional material and website and it will be central to the brand value you build into the business.

Although you are looking to appeal to customers and get the message across with regard to what you sell, if you can arrive at something which sets you apart from the crowd and remembered easily for the right reasons, that would work well.

There are certain restrictions on some worlds/phrases which can be checked out at Companies House (obvious ones like offensive words but some less so relating to things like associations or royalty) and you will always need to check out no one else is using it.

Content kindly provided by www.yorkshirepowerhouse.com visit them for free business templates & much more. 

Business type and structure
 

You will need to elect a business type or structure for your business and getting this right is essential – making the wrong choice can change how much tax you pay and how you account for your business.

Once you have completed your pre-planning research and have a fairly high level of confidence that the market exists for you business idea, there are several key considerations and choices you need to look at.

It is strongly recommended that you seek professional advice on this area from an accountant or business advisor.

In essence there are four main options: 

  • Sole trader
  • Partnership
  • Limited liability partnership (LLP)
  • Limited company

Being a sole trader simply means that you register with HMRC as a self-employed person.

A partnership is considered on the same basis as a sole trader but obviously requires all parties within the partnership to register on the same basis.  It is also very important to have a partnership agreement in place to ensure everybody involved knows exactly what they are expected to contribute and what their liabilities and obligations entail.

Yorkshire Powerhouse has written a couple of guides on sole traders and Limited companies there is more information about all the different options at https://www.gov.uk/topic/company-registration-filing/starting-company

Content kindly provided by www.yorkshirepowerhouse.com visit them for free business templates & much more. 

Your vision and goals
 

There is a well used acronym to help define goals (not just business but it can also be personal or any other walk of life) known as SMART.

When you are writing your business plan, you should absolutely define goals and ambitions to help you measure your success.  Goals should motivate you, not demoralise – so if you find your goals are getting you down then perhaps you need to be SMART:

  • Specific – well defined goals help you focus on the most important things (and there could be several specific goals) that will help your business succeed.  The main thing is that you identify what that specific goals are and what they need to achieve within the context of your business.
  • Measurable – you need to have benchmarks and reference points within the goals and the indicators you set to be quantifiable.  How else will you know if the ultimate goal has been achieved?
  • Achievable – there is nothing wrong with setting ambitious goals but we are back to one of the main watch words – realistic.  Given all the constraints around your business proposition, the goals have to be realistically attainable or they will simply deflate your enjoyment.
  • Relevant – goals can always fulfil the other 4 criteria but the ones you set for your business have to be relevant to your overall objectives.  It has to be worthwhile in the context of the business.
  • Time-bound – again, be realistic by putting a time frame around the goals you set (and they may vary on a goal by goal basis).  This discipline is designed to keep you focused on achieving your desired result and minimising distraction that could be detrimental to the success of your venture.

 Content kindly provided by www.yorkshirepowerhouse.com visit them for free business templates & much more. 

 

Thinking about pricing
 

Setting your prices at the right level requires an in-depth knowledge of your market and who you are looking to sell to.

Your research on potential customers and competitors is key to getting this right.  Whether it’s ‘expensive and exclusive’ or ‘cheap and cheerful’ (or somewhere in between!) its about ensuring that you make the profit margin required for the business needs and running a commercially viable enterprise.  You are looking to maximise profit after all your costs have been covered.

In addition to the research, you will need to know what costs are going into the product or service you will be supplying.

Variable costs such as raw materials and utilities (gas, electric, water) will increase in proportion to the quantity and volume produced.  Fixed costs such as rent, wages and rates for example will remain constant.  You need to work out what proportion of your price needs to be factored in based on these costs.  A combination of the two costs will give you a figure that is known as breakeven – selling ‘this much’ at ‘this price’ will cover everything required for the business to survive without making a surplus.  But a successful business is about making profit and to complete the process of arriving at a price that is right, you need to factor in “margin”

There are various methods for pricing for the desired profit level but any method (without just guessing) is reliant on detailed knowledge of the market.

  • Mark up or cost plus pricing is simply the cost price (i.e. breakeven price as described above) with a percentage added based on factors in the market such as what does everybody else charge?  What is the demand?  If it’s high, can I charge a premium?  If it’s low will I need to accept a lower profit margin and sell volume?  Is my product or service unique or limited competition?  All considerations but it’s always worth remembering that even with something that is high quality or high demand, there is likely to be a limit to what someone is willing to pay.  You also need to remember that if you don’t sell every unit of what you supply, the profit margin will be negatively affected.
  • Value based pricing can be much more rewarding but is very much based on your potential customers perception of the value they put on the product or service you supply.  You can potentially maximise the profit margin made above cost if what you offer is highly prized or you offer significant added value with what you supply.

It is worth re-iterating – how or the method you use for pricing for profit needs a thorough analysis and detailed knowledge of your market and potential customers.

In general it is good business practice to review your prices regularly against the costs involved, customer’s expectations and competitor activity to ensure you remain ahead of the game.  As a successful business, you should always maximise profits on the goods and services you supply.

Content kindly provided by www.yorkshirepowerhouse.com visit them for free business templates & much more. 

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15 results found, page 1 of 2.  
Interested in Finding Out What Business Banking Can Do To Help Grow & Develop Your Business

Thursday 12 April 2018

On the 25th April 2018 Matt Caie, who is Barclays Business Manager in Huddersfield, will be with us in the 3M Buckley Innovation Centre on Firth Street, Huddersfield. Matt specialises in Business Banking, seeking to help grow and develop businesses through regular contact and advice and assisting companies in overcoming the challenges faced in meeting goals. Why not pop along to our Business Engagement Centre between 1pm and 4pm to have a chat and get some no obligation, business banking advice for your company! Look out for future dates/times that Barclays and other Business Support Specialists are with us and remember, the Business Engagement Centre is open Monday to Friday 9am to 5pm to help address the bespoke needs of your business and to provide no obligation, impartial advice and solutions or just a general chat about your company and any challenges you face. We look forward to seeing you!
Posted by 3M Buckley Innovation Centre
Huddersfield Business Coach Launches Service for Community Benefit Organisations

Thursday 12 April 2018

Natasha McCreesh, the founder of coaching and mentoring business PIP to Grow Strong, has launched a monthly coaching and mentoring clinic for Kirklees based third sector organisations. The clinic, known as KOKO sessions (Keep On Keeping On), will provide organisations with the insight required to help them grow strong and sustainably enabling them to continue to deliver the work they undertake in the community. Natasha’s commercial industry background, which includes almost 10 years working for Jacuzzi Group in roles such as product development, marketing and purchasing, provides a unique opportunity for interested organisations to benefit from her vast experience and in particular her ability to positively challenge organisations and help them in finding their way forward. Natasha says: “Although I am a trustee for Hoot Creative Arts and a volunteer supporter of the Huddersfield Town Foundation, this alone just didn’t feel like enough! I want to offer a service which positively impacts upon my own community and the KOKO sessions are meant just for that.” Vicky Brennan, Business Development Director at Hoot Creative Arts said: “Natasha has been an incredible support to our organisation giving us so much more than we ever asked for or thought was possible. Natasha offers an untapped amount of energy and positivity and is so refreshing to engage with. She is always keen to learn and understand a whole picture that enables her to tailor her offer and support. We have never felt like one of many clients but really her only client, this approach is driven from a clear values base resulting in an authentic offer. Natasha sees the value in the work our sector does, she sees how it transforms lives and she is truly inspired by our sectors ability to give, therefore you quickly recognise a strong sense of giving within her approach that makes working with her a joy.” To discover more and sign up to the KOKO Sessions, visit http://piptogrowstrong.co.uk/koko-sessions/
Posted by PiP to Grow Strong
Global Branding Agency Announces Launch of Accelerator Hub to Support Yorkshire Creative & Tech Start-Ups

Tuesday 03 April 2018

Elmwood, the world’s most effective brand design consultancy, is set to launch its first accelerator programme in June 2018. Elmwood LaunchPod is a unique project bringing creative and technology start-ups together into a thriving creative community, collaborating with them over a 12-week programme designed to take their businesses to the next level. Initial details about Elmwood LaunchPod, which will be hosted at Elmwood’s studio in Leeds (United Kingdom), have been released today, with the official launch of the accelerator programme taking applications from Monday 16th April until Friday 8th May. The inaugural accelerator programme is aimed at promoting the development of innovative consumer health start-ups, with Elmwood inviting both technology and creative (STEAM: science, technology, engineering, arts and mathematics) businesses who are innovating how people manage their health to improve their quality of life. As a global brand design consultancy, Elmwood is uniquely placed to o?er start-ups the guidance and support they need to ensure sustainable business growth beyond the 12-week programme. By bringing emerging technology and creative businesses into their community, they hope to discover how technological innovation can enhance brand experiences for both clients and consumers. Elmwood anticipates working with 5 start-ups when the 12-week accelerator programme commences, helping to support the next generation of entrepreneurs who are already hard at work to bring emerging ideas to market that will shape the future of consumer health. Throughout the 12-week programme, successful applicants will receive specialist insight from a world-class community of marketers and creative designers and free workspace at Elmwood’s creative and dynamic studio. Participating start-ups will also have access to expertise across Elmwood’s industry-leading global clients as mentors, as well as access to investors. Sarah Dear, managing partner at Elmwood and managing director of Elmwood LaunchPod, commented: “This is a unique project bringing together businesses with breakthrough ideas propelled by the power of design. “The future inevitably starts with an idea and some of the most innovative ideas are found among start-up businesses. Elmwood prides itself on being at the intersection of creativity and innovation and we’re looking forward to supporting the aspirations of health-focused entrepreneurs who are eager to develop the next generation of consumer health experiences into successful businesses that help improve people’s lives.”
Posted by KC Communications
Harrogate to Host Digital Knowledge Conference

Tuesday 06 March 2018

Harrogate Convention Centre is set to host the “Go Digital – Live” conference on the 23rd March. The conference, which is organised by the Digital Knowledge Exchange, part of the Digital Enterprise programme in partnership with BQ Live and Stray FM, is open to all SME’s in the Leeds City Region who are looking to boost the digital knowledge enabling them to upskill and grow their businesses through advances in technology The one-day conference which opens with a keynote speech from Deputy Leader of Harrogate Borough Council, Cllr. Graham Swift will also provide delegates with access to a range of industry experts including Becky Boyd from the Google Digital Garage who will be giving insight on digital advertising, Leeds Beckett University will be discussing the rise of chatbots and how to implement them into your business successfully, while Pascal Fintoni of Arclight marketing and Media will be offering advice on how to launch your own live video show. In advance of the implementation of the General Data Protection Regulation, the Yorkshire & Humber Regional Cyber Crime Unit will also be advising on advances in cybercrime and how to mitigate the impact cybercrime has on companies and their customers. With up to 150 delegates anticipated to attend the conference, they will have the opportunity to register in advance to “Meet a Mentor” providing the ability to obtain on the day one to one support. To end the conference, there will be a Q & A Panel Session hosted by leading digital and tech specialists. A range of exhibitors will also make up the conference, providing delegates with the ability to discover some of the region’s most successful digital technology-related businesses.   To register for the event, visit https://www.godigitallive.co.uk/
Posted by KC Communications
GDPR

Friday 23 February 2018

Our GDPR event March 1st is sold out! However, we do have a waiting list, so if you haven't got a place, please message or call and speak with Lucy 01484 541155
Posted by Sheards Accounts
Kirklees’ Biggest Business Conference Returns

Tuesday 06 February 2018

Following on from the huge success of the 2017 Conference, the Mid Yorkshire Chamber is delighted to be hosting their 2018 Kirklees Business Conference (KBC) at John Smith’s Stadium, Huddersfield on Wednesday 21st March. The free, one-day conference has become an unmissable event in the local business calendar which is dedicated to helping businesses to connect, learn and grow. Attracting over 600 business people and 50 exhibitors, KBC includes a fantastic programme of engaging seminars, a discussion panel, surgery sessions and open networking throughout the day. This year the Mid Yorkshire Chamber is proud to announce an official partnership with Google bringing a Digital Garage to KBC as part of the seminar programme. Running alongside the four seminar sessions, more surgery sessions will also take place following their success last year. Held by local businesses located in the stadium boxes, the surgeries will provide the opportunity for companies to run their own seminars, workshops or one to ones. Rory Bourke, Events & Sponsorship Co-ordinator at the Chamber said: ”Kirklees Business Conference is definitely shaping up to be a day not to be missed. The conference is a fantastic opportunity to raise your profile, make new contacts and learn from other experienced professionals. There are many opportunities for local businesses to get involved through sponsorship, exhibiting or attending as a delegate.” Confirmed conference sponsors and partners include; AD:VENTURE, The John Smith’s Stadium, The Design Mechanics and Social Progress. Delegate tickets are free but registration is essential, significant interest is anticipated therefore early delegate booking via www.kirkleesbusinessconference.co.uk is advised to avoid disappointment. For further information about the conference follow @MYBizConfs and #KirkleesConf on twitter. To find out more about sponsoring or exhibiting at the event please email events@mycci.co.uk or call 01484 483679.
Posted by Mid Yorkshire Chamber of Commerce
Inspiration for Greenhead College business class from ex student entrepreneur

Tuesday 28 November 2017

Business students at Greenhead College were handed some sound advice from two local entrepreneurs. Harley Cooper and Ellie Gilbert showed the A-level students what can be achieved with a bit of self-belief, resilience and risk taking. The duo set up Avalon Mae Social Media Marketing, which has found a gap in the market for providing social media marketing services to small firms and self employed individuals such as hairdressers who want to maximise their online presence. Ellie, an ex-Greenhead student who took part in the Real World Economics event and the annual New York trip, spoke to more than 80 students and explained that young people had a lot to offer in their line of marketing as they have grown up with social media. Mark Mitchell, head of business and economics at Greenhead College, said: “Having young entrepreneurs from our alumni visiting like this is highly inspirational and helps show students that there is an alternative to the traditional educational route after Greenhead. “If you have a great business idea – just go for it!”
Posted by Avalon Mae Social Media Marketing
Around Town In the Huddersfield Live Hygge Tipi

Wednesday 15 November 2017

What better time to get together than Christmas? Around Town believe that connecting the business community of Huddersfield in its iconic locations and organisations is a brilliant way to share ideas, hear inspirational stories and have some FUN. Organised by Oli Smith, Michelle Crowther and Chris Buckley Around Town create memorable events every 3 months. 2018 plans are already underway; “as well as meeting at some amazing businesses we are walking Around Town in Spring - a fantastic way to get to know each other whilst experiencing some award winning locations and scenery in Huddersfield “ says Michelle And with Huddersfield Live December promises to be a memorable Around Town event. Hosted in the Hygge Tipi in St Georges Square, hear Sam Watt and Poppy Stahelin tell of the fabulous work the team at Huddersfield Live are doing and some of the stunning events planned for next year. Laura Drury sets the backdrop of how she formed the The Hygge Tipi and how it creates a convivial atmosphere for Huddersfield folk to mingle, drink mulled wine, and keep the winter night out in front of the log fire. All In the heart of Huddersfield. Tickets are limited and can be reserved FREE here. Chamber members old and new are very welcome. Around Town Events for 2018 confirmed. March 1st - Valli Opticians May 17th - Owen Scott Tailors May 25th - (Walk) Around Town - 15miles (approx) Breakfast Sarnies, The Kirklees Way, Finish in a Brewery!
Posted by The Alternative Board
Social Progress at 2017 Chamber Business Awards

Monday 23 October 2017

Social Progress, a Social Media & Digital Marketing Agency from Huddersfield, West Yorkshire, has been crowned one of the winners in the Yorkshire and Humber heats of the Chamber Business Awards 2017. Now in their 14th year, the Awards are a highlight of the business calendar, recognising the key role that local businesses play in driving the UK economy. The Best Use of Social Media award winner, Social Progress will now go forward to represent the Yorkshire and the Humber region in the national finals, which take place in London in November. Janet Bebb, Owner & DM of Social Progress said: “The announcement took us completely by surprise. We entered but never thought we’d be selected as Regional Winners. “The entry showcased the interactive social media software we’ve developed called Big Screen Social that can be used at events. It’s a highly visual Twitter & Instagram Wall which, because of the unique visual presentation, is designed to encourage delegates, sponsors and exhibitors to post throughout the day or evening using the event’s specific hashtag. This gives added media exposure to the event. “Big Screen Social is going down a storm at conferences, award evenings, etc. Mid Yorkshire Chamber have used the software at two of their events this year, the Kirklees Business Conference and the Wakefield Business Conference. Francis Martin, President of the British Chambers of Commerce (BCC) said: “Businesses are the backbone and driving force of the UK economy. Even in the face of uncertain times, they continue to show their resilience and strength – creating opportunities for employment, investment and growth. “Our judges are always impressed by the high standard of submissions, and the calibre of entries this year was no different. The finalists in the Chamber Business Awards represent the best of this country’s entrepreneurial spirit, creativity and hard-work. “The Chamber Business Awards are the perfect opportunity for us to celebrate our business communities’ achievements, to take stock of the outstanding performances of UK businesses over the past year, and to encourage and inspire others to follow in their footsteps.” Social Progress is a Yorkshire based Social Media Agency specialising in social media strategy, social media training and social media content management on behalf of clients. Our client base stretches from micro-businesses to large corporations and all training and services are tailored to suit their requirements. We ensure training is suitable for the individuals involved and tailor the teaching to suit their skill-level and learning pace to ensure they make the most of the training and feel confident enough to go away and have a go themselves. We offer Content Managed Packages for clients who wish to out-source their social media management ranging from low-level to detailed social media strategy and support. All packages can also have additional training bolted onto them to ensure the client is confident to manage their own social media after a time. Social Media Strategy Packages help to focus business owners and marketing department on the what, why, how and when of using social media for business. We help give them a purpose to using social media and help them to use if more efficiently and effectively. We also strive to encourage authenticity and to show their personality through their social media channels/activity. We’ve also developed a highly interactive and visual Twitter & Instagram Wall called Big Screen Social which is designed to enhance any event. Be that conferences, exhibition stands, award evening, charity functions, festivals, music concerts, weddings & parties. Big Screen Social can be purchased to use for a day or on an ongoing basis by event planners, social media agencies, PR agencies, advertising and marketing agencies and AV technicians. The display posts using a given hashtag. It can be moderated and customised to suit the branding of the event.
Posted by Social Progress
A Cure for Cabin Fever!

Monday 02 October 2017

As a Sole Trader, Freelancer, Consultant, Nomadic or Home Worker we all know how challenging it can be to work on your own, by your own. As an answer to the lack of social connection, creative thinking, strategic brainstorming, professional critique or just a chinwag with other professionals, Co Up is launching Sole Trader Social. A quarterly meetup that turns the 'standard networking event' on its head. First and foremost it is a social event that encourages individuals to get out more and meet with other like-minded professionals in a relaxed environment. Danny Bulmer, Founder of Co up says... "We've all been there - either when starting up a new business, being a sole trader or working remotely or in your kitchen. Whilst we have some luxuries to hand, we as human beings lack the social connections and the serendipitous moments of working with others. These moments are often where new discoveries, developments and ideas flourish. Some of the best ideas, business concepts and conversations are often had down the pub, in a cafe or around the kettle. These are places where people can feel more at home and open to new ideas and are possibly more comfortable in expressing themselves. Sole Trader Social is a space where professionals and entrepreneurs will hopefully feel part of a community of like-minded individuals. The social aspect is important but these meetups definitely help to develop oneself, your wider network and your businesses in very a natural, unforced and productive way" The Sole Trader Social kicks off on Thursday 8th October at 5:45pm-7:45pm at Co Up in Slaithwaite and will run quarterly from thereon in. Find out more on their website: www.co-up.co or on the Co Up Facebook page.
Posted by Co Up.
15 results found, page 1 of 2.  

Events Posted

2 results found 
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How To Get More Clients Using LinkedIn
Wednesday 25 April 2018, 16:30 - 18:00
Firth Street, Huddersfield, West Yorkshire, HD1 3BD
Free Entry - 18 places
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Breakfast With Added Joy
Tuesday 1 May 2018, 08:00 - 10:00
90, New North Road, Huddersfield, West Yorkshire, HD1 5NE
£15 - 10 places
2 results found 
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