If you have a great idea and are planning to start-up a small business in the UK (or are already the owner of a successful SME), one of the very first decisions you need to make is about the location in which you plan to base your enterprise. Which city is best for you?

Depending on the industry, some entrepreneurs will automatically choose to start their business in a location close to home – after all, assembling products in your parlour may have been where you got your start, and now you may feel compelled to keep your business near to your beginnings. With that said, in order to truly grow, thrive and make it past your next important milestones, you might need to relocate a few miles – or a few hundred miles – away.

Moving further afield or staying close to home: read ahead to learn about the factors that may affect your decisions.

Factors that may influence your decision to move your small business

As a rapidly expanding small business owner, you probably have many complex issues and challenges on your mind; even if this is the case, you should ensure that you set aside some time to plan for your growth and potential relocation. Here are some of the myriad factors that may influence or even completely change your decision to move your business to a new city or county.

• Access to necessary resources – If your small to medium sized business relies on a natural resource or material that is more readily available in one part of the UK than another, you might find it a boon to your business to move close by. Some good examples would include someone who uses fresh seafood, woodland materials or quarried stone from specific regions.

• Proximity to a transportation hub – Are you located smack in the middle of the country when your business relies on shipping and international exports? While Birmingham and Nottingham are lovely places to live and work, they may be a hindrance when it comes to getting your goods and products on the necessary freighters and international transport for your success. Depending on your industry, pay keen attention to where your competitors are located; this may be an advantageous place for you to relocate your business.

• Location of your target demographic – If your product or service is aimed at young urban professionals, then London or Glasgow may be your best bet; however, if you are keen to attract a client with a surfer vibe, then St. Ives is more appropriate. Paying attention to the location where your desired clientele is located is smart business sense – you will be well located to the pulse of your brand.

• Support of family and friends – Does your mum or your brother give you countless hours of free or discounted labour out of the kindness of their hearts and a desire to see you succeed? If you answered yes, then you might want to consider staying put for the time being (unless you can afford part time help and the benefits of moving outweigh the impact of this free labour).

Where should you move? Some top UK cities for start-ups

If you are planning to make your move in the UK, here are some cities that you should be looking at. They can each boast an attractive mix of business savvy, transport connections, enticing business markets and other attractive factors that will make a move worth your while.

• Hull – While Hull may not offer the most thrilling local cultural scene, it is increasingly becoming a desirable location for start ups around the country owing to its affordability and ports. Offering excellent transport connections and ferries directly to Ireland, Holland and France, one would be remiss to discount Hull as a great place to do business.
• Milton Keynes – Tech start-ups can rejoice: Milton Keynes was designed just for you. This technology hub is known throughout the world as a brilliant place in which to do business – after all, it was designed as a so-called “New Town” for exactly this purpose. Home to many successful UK corporation headquarters such as Argos, Domino’s Pizza, Marshall Amps and Mercedes-Benz, this town was deliberately built near London, Birmingham, Leicester, Oxford and Cambridge, yet the cost of living and doing business is substantially lower than in any of these major centres.
• Liverpool – With the low cost of living in the Midlands, a bustling port that can rival London and a unique cultural history of its own, Liverpool is attracting businesses large and small to its thriving start-up scene. Home to dozens of business hot spots, work space hubs and businesses of all sizes, Liverpool hosted the Festival for Business in 2014 and is set to host again this year. Perhaps Liverpool is your perfect locale?
• Bristol – Recently voted the number one place in the UK to start or operate a business by the Start-up Cities Index 2015, the West Country city of Bristol is simply a brilliant place to live, work or visit. Known for fantastic transport infrastructure, one of the busiest ports in the UK, Bristol also boasts a huge new business regeneration project called the Bristol Temple Quarter Enterprise Zone. Well situated in relation to London, the South and Wales, Bristol is fast becoming an economic force to be reckoned with in Great Britain.

There’s no place like home

No matter where you decide to relocate for business reasons, you might ultimately choose to keep your headquarters close to your home – and the place where you founded your brand. International success stories such as Lush Cosmetics and Cambridge Satchel Company have grown to reach huge success around the world, but have chosen to maintain their headquarters in otherwise small towns (Poole and Cambridge, respectively).

Whether you choose to stay located in your hometown, make the move to the capital or settle on a business friendly locale in between, doing research and choosing the best city for your unique brand is always a good idea.

The Business Show, an annual free exhibition for business leaders and investors, is taking place at the ExCel Centre in London on the 11^th & 12^th of May. Sponsored by Hyve Managed Hosting and E. ON Energy, The Business Show has gone from strength to strength during its 12 years of running, causing some to call it the “the country’s leading business exhibition”.

A combination of Prysm’s previous events ‘The Great British Business Show’ and ‘Business Startup’, the event is held with the primary focus of encouraging businesses to both improve and expand. This year The Business Show boasts 350 exhibitors and a host of key guest speakers, who will be providing a wealth of advice for both start-up businesses and those looking to go global. The Show welcomes investors, so there’s something for everyone!

What Can You Expect From The Business Show?

The Business Show is proud to announce yet another exciting list of speakers, including Brad Burton, the UK’s No1 motivational speaker, and Raja Saggi, the Head of Marketing at Google. Hilary Devey CBE will also be present, an award winning businesswoman and entrepreneur who revolutionised the palletised distribution industry nationwide when she launched Pall-Ex in 1996, and has appeared on popular British TV shows such as Dragon’s Den and The Secret Millionaire due to her innovation. The above names are just a few amongst the large number of speakers that will be present over the two day period; a full list is present on The Business Show website.

A number of different ‘Zones’ will be present throughout the event, including the Marketing Zone, where tips and techniques will be given in order to help businesses expand. Visitors can then find themselves receiving information and help on the latest financial technologies in the Finance Zone, where they can also pitch to a panel of multi-millionaire investors. The Business Show prides itself on aiding start-ups and SMEs and the Startup Zone will be hosting a number of successful business leaders providing their secrets; there’s a reason it’s Europe’s leading event for starting a business! Information on these Zones and the others that will be present can be found on the website.

Over 170 masterclasses will be held at The Business Show, providing businesses and investors with everything they need in order to aid development. These classes range from ‘Business Oomph’ held by representatives from KPMG to protecting your business from theft held by talkers from The Intellectual Property Office.

The Business Show Awards 2016

For the first time in The Business Show’s 12 year history, it will be hosting an awards ceremony at the ExCel Centre on the 11^th & 12^th of May, coinciding with the main event itself. A judge of panels, including the Head of Marketing at KPMG, will present the SME Website, SME Marketing and SME Finance awards 2016. Aimed specifically at SMEs, these awards will be given to businesses or individuals that have provided the best product or service in these categories to aid the growth of SMEs in a challenging economy.

Why The Business Show Is Not Something To Be Missed

The Business Show hosts a wealth of information and advice for business start-ups or for those looking to expand their business globally, as well as aiding investors in what to look for when investing. Expecting 25,000 business owners, hosting 350 exhibitors, 170 masterclasses and 250 seminars, The Business Show is a fantastic way to network your business and learn vital tips and guidance. As well as this, it’s completely free so you have nothing to lose and everything to gain!

The event is sponsored by companies such as 4Networking, London Entrepreneurs Network (LEN) and Conex, and is managed by Barclaycard, so you can be sure that this will be a must-attend event. Bianca Miller, founder of The BE Group, a company that provides services to help businesses become more profitable, productive and competitive, said about the event “it is a great networking opportunity, it’s great to find out about new businesses, opportunities and propositions, and all in all just a great event.” Make sure you do not miss out on this fantastic opportunity taking place at ExCel London (E16 1XL), a 10 minute walk from Canary Wharf, in the heart of London’s Royal Docks, on the 11^th & 12^th May 2016. Be sure to order your free tickets here.

If you are a small business owner just getting started with an innovative new start up, you are undoubtedly excited about your (hopefully) impending success. You have the skills, you have the know how and you have the unique ideas that will propel your new company from obscurity to achievement – but do you have a registered office address and a place to work?

What is a registered office address?

In order to conduct business, all all limited companies and Limited Liability Partnerships (LLPs) (no matter the size) in the United Kingdom are legally required to have a registered office address. This is required before you start charging clients and producing invoices, and so many people ensure that this is taken care of early on in their planning processes. After all, being able to charge clients is pretty pivotal when it comes to business!

What kinds of addresses can you use?

Of course, for some types of businesses, a physical address will be a given. For instance, if you are planning to open a new craft micro brewery that focuses on British IPAs, you will have an address at which you operate, and you can choose to use this as your registered office address. (Of course, you can also choose to designate a different location as a registered office address.)

With that said, you might be operating a start up, and you might not need a set, determined physical space in order to work your magic. For instance, freelance writers, graphic designers and even event planners can do their daily tasks at a variety of different locales, including their home, a coffee shop and even down at the local pub.

In this is the case for you, what should you use for your registered business address?

• Your home –In some cases, is completely legal and acceptable for you to use your home address for your business. However, this information is completely publically accessible, and that means that your clients (not to mention anyone who cares to search you) will potentially know exactly where you live. If this does not bother you, feel free to go ahead and submit your residence as your registered office. If the idea of the general public knowing where you live gives you a bad feeling (or you feel it could leave you open for danger), it might be a better idea to utilise another option. (*Note – Some landlords will not allow you to use your home address for business purposes – ensure that you check with them in advance.)
• A traditional office space – A traditional office is a great idea if you have a staff of more than one or two people, if you need a storefront, or if you plan on expanding very rapidly. With that said, traditional office spaces do not often come cheap, and many start ups cannot afford this during their initial periods of operation.

• Registered Office & Mail forwarding services – If you plan to work at a start up hub, you may want to use a Registered office address, a service that is offered by many companies across the country. For a fee, they will allow you to use their address as your registered address, allowing you to stay on the right side of the law and keep your privacy.

What are start up hubs?

This is the ideal solution for many entrepreneurs who are just getting started. Start up hubs (also known as co-working spaces) are collectively occupied office and relaxation spaces; you rent a desk or workspace, and in some cases you can even utilise this as your registered office address.

In addition to a desk and a Wifi connection, these hubs are often also innovation labs, business incubators and social enterprise community centres. They are usually well located, affordable, attractive and well stocked with other brilliant entrepreneurs, giving you ample opportunities for networking. Work, collaborate, make use of the amenities and give your business the kick start it needs – these are cool spaces that have launched many a start up.

Start Up Hub Office Spaces Across the UK

Here are some of the finest start up hubs across the country. Remember, many start up hubs offer a signing bonus or trial offer that can glean you free office space for a day, a week or even a month.

• The Trampery – With convenient locations spread across East London, the Trampery offers its inhabitants modern and efficient office space in edgy, up and coming neighbourhoods such as Old Street, Bevenden Street, Tower Bridge and Hackney Wick. Their work spaces are tailored to their architectural surrounds; Edwardian warehouses, brand new glass towers, eco-builds and Victorian halls.
• OpenSpace – Manchester is home to this members collective of writers, artists, designers and small business owners, and OpenSpace not only gives them a place to work, it also gives them a sense of community. With desks starting at 147 pounds per month (for members), this is an affordable, friendly and functional space to work.
• Impact Hub – If you love to travel and want to wander the world while you produce your products or services, Impact Hub might be the perfect co-working space for you. With offices located all over the world, you could always use the closest address for your registered office address while taking advantage of an unlimited membership that will grant you access to spaces across the globe.
• Baltic Creative – Need a great working space in Liverpool? Baltic Creative is for you. Located in the revitalised Liverpool Docks, this hub is comprised of regenerated warehouse spaces that will lend your business an on-trend feel and help you connect with other entrepreneurs in the area.
• Funkyspaces – Funkyspaces provides bare bones desk space (think less community building and relaxation spaces and more just a place to get to work and connect to wifi) to Bristol start ups and freelancers. With locations across the city (and rock bottom prices starting at 53 pounds per month), this is a great solution for those who want to get down to work and don’t really fancy socialising.
• The Hot Desk – Located in Glasgow, The Hot Desk provides solutions for many different types of businesses; students, freelancers, designers and start up entrepreneurs will all find pricing structures that work for them (5 days a month starts at just 60 pounds). Featuring super fast internet connections, a bike shed and a communal kitchen, this is a great option for any business in need of a desk.

Starting a new business is an exciting time in any entrepreneur’s life; you have an innovative idea and are taking the leap into business ownership in order to make your dreams happen and your idea come to life. With that said, there are countless small details that one has to factor in when starting a new business, things that you may not have considered in the rush to get started on design and production.

If you are in the process of starting a new company (no matter how big or how small) in the UK, you simply must consider the following business costs in order to ensure that your dream does not go bust due to avoidable factors. Planning ahead for business costs is a smart and savvy thing to do – and it could mean the difference between failure and success.

Here are some of the most common business costs that entrepreneurs incur in the UK.

• Office Space – Even if you plan to do most of your work from home or the local coffee shop, unless you are comfortable making your address visible to the general public you will need a registered office address. This can either be a traditional office space (which can get pricey very quickly) or desk space at a start up hub or co-working space, which while affordable does not offer privacy.
• Business rates – If you do plan to rent a traditional office space, you will be required to pay annual business rates on your property. This is comparable to council tax – business rates ensure that you to contribute taxes to your local area for the services and amenities that you use. These rates are calculated based on the overall value of your business – in order to estimate what this will be, you can use the government business rates estimation tool, found here.
• Employee wages – You might be a solo act for a little while, or you might need to hire immediately – but remember: the better the talent you hire, the more you will have to pay them, as top candidates often demand higher salaries. There is a lot to be said for hiring young, affordable employees who can learn your preferred ways of running a business, but ultimately these seemingly cheaper hires may cost you money as you struggle to mend their mistakes and spend time training them from scratch. Before determining your employee salaries, you will have to put some thought into what you value – and what you can afford.

• NICs – If you are just starting up, you are probably not yet familiar with the intricacies of the taxation system and how to pay taxes as a self employed individual. Here is an excellent link that can help you sort out your National Insurance Contributions (NICs – budget 2.80 a week), personal income tax rate and your year end paperwork. Do not let this get away from you – taxation fees and penalties can add up, and the legal cost of ignoring your taxes is far too high to pay.

• Accountant/ bookkeeping fees – Does the above point make you want to break out into hives? That is a sign that you should be working with an accountant or bookkeeper right from the start. By hiring a skilled accountancy professional you can alleviate the stresses that come from number crunching, taxation codes, payroll and paperwork, but they come at a cost. With that said, if you can afford to outsource this work, it is a very wise investment in your future success.

• Workplace pension – No matter how small your firm, you must enrol your employees in workplace pension scheme upon hiring. This is a rather simple process, and the amounts you are required to contribute will be dependent on the salaries of your staff. Failure to enrol employees in a timely fashion will result in hefty fines – don’t risk it!

• Domain Registration and Web Hosting – This is a seemingly small cost, until you consider that you will need to renew your domain name each year in order to ensure that it is not purchased out from underneath you. The more desirable the domain name you hope to snag, the more it is going to cost you; many of the best names on the internet have been purchased and are held by cheeky resellers who raise the prices on attractive domain names. You may also want to purchase all of the ‘top level domains’ for your name (the various permutations of .net, .co.uk, .com etc) and point them at your main site in order to avoid confusion.

• VAT – Once your business meets the threshold of £82,000 you must start collecting VAT (unless your product or service is exempt). You will probably collect more VAT from your customers than you will pay to your suppliers, and so you will fill in a quarterly VAT return and arrange to pay the surplus to HMRC. This is of dire importance – you cannot ignore the importance of paying VAT. Failure to do so can result in your complete bankruptcy and a black mark on your credit report, preventing you from doing business in the future.

• Annual Return/Annual Confirmation Statement – Each year you are required to file a statement with Companies House confirming the statutory details of your company, i.e. the Registered Office Address, Officers, Secretary, Business Classification etc. Up to 30th June 2016 this statement is known as the Annual Return, but from 1st July 2016 the Annual Confirmation Statement will take its place. A filing fee accompanies this statement and, at the time of writing, this stands at £13 for filing online and £40 for filing on paper.

Good planning and strong business sense can go a long way when it comes to ensuring that your new enterprise is successful, efficient and profitable – both as soon as possible and far into the future. By preparing for the costs above, you are on track to triumph.

Are you a mobile marketing expert? If not, don’t fret – but continue reading, as this skill is one that you don’t want to miss, especially if you are the proprietor of a small to medium sized start up business. As a start up owner, you are expected to be a modern day ‘renaissance man’ (or woman) – you are responsible for a wide array of tasks that are at times completely unrelated, and you must be successful at each and every one of them.

After all, the survival and success of your enterprise depends on your ability to do basic accounting, provide excellent customer service, network and build customer relationships, recruit, train and hire top notch staff, and of course, complete the products and/ or services for which your business is known. On top of all of this, you must be a skilled and effective marketing wiz, with the skills and know how to promote your company to the fastest growing platform across the world – mobile marketing. If you ignore this pivotal marketing opportunity, you are losing clients, business and most importantly – profit.

With mobile commerce increasing 300% over online commerce, this is a massive opportunity for you to super charge your start up. In order to help you get a grasp on this vital concept, here are ten top tips that will get you started, and more importantly – get your marketing information into the hands of the people you hope to convert and count amongst your paying clientele.

1. Recognise the importance of mobile marketing – Before you can embark on a successful mobile marketing campaign, you need to fully grasp why it is an important step to take in the first place. As Kimberley Whitler wrote in Forbes, mobile marketing is quite literally the closest that you can get to your ideal client. She uses the 3 Ps – a person’s mobile is personal (their mobile is likely their most utilised mode of communication, and people form close attachments to their phones); proximity (it is usually within arm’s reach at any given time) and persuasive (most people check their phones constantly). This is too large an opportunity to miss.
2. Ensure your website is optimised for mobile sites – Sites that are programmed solely for a desktop or laptop computer can often look terrible and become impossible to use when accessed on mobile devices. With consumers increasingly doing their shopping on their phones, a poorly designed mobile site will cause them to head to one of your competitors. If programming your website is above your skill level, hire a website developer as soon as possible in order to make sure your site is compatible on smartphones and tablets.
3. Identify your target demographic – In order to ensure that your site is optimised in the most suitable way, you need to identity your target demographic. Here is a handy link that will help you to identify your ideal customer – this is an important thing to do for many aspects of your business’s success.
4. Build your audience on social media – More than ever before, connecting with your clients in a personal and customised way is a key driver of sales. Social media platforms, such as Facebook, Instagram, Twitter, Pinterest, Snapchat and more can be the perfect way for you to interact with and attract your desired clientele. Remember – social media accounts for business are very different than your own personal accounts – remember to always stay on brand and never be overly familiar.
5. Offer mobile marketing incentives – Offering an incentive (such as a free gift, complementary consultation, discount or sale) to your clients via a mobile marketing campaign will demonstrate the value and importance of your message.
6. Stay on top of new technology – Contactless payment options, Smartphone apps that make mobile shopping more simple, new social media platforms – as a start up owner on the cutting edge of your industry, you need to make sure that you are in the know about advances in technology that could help you with mobile marketing.
7. Email mail outs should be regular, valuable and targeted – Collecting your clients’ emails and putting them to good use is key when it comes to mobile marketing (although you must make sure that your clients willingly sign up for these newsletters). Send a regular newsletter that includes advance information about sales, information about your industry and many calls to action. Here is a comprehensive list of all of the ways that you can harness email marketing strategies for your mobile campaign.
8. Nothing you send should be irrelevant – In addition to the point above, remember – your mobile marketing should be valuable. Put yourself in your clients’ shoes – do you like receiving annoying memes, silly jokes and tangential articles from businesses you have dealings with? Probably not – so keep your marketing relevant and valuable.
9. Timing is everything – Pay special attention to when your target clientele is most active online. If you would like to attract those in an office setting, a Tuesday morning is probably a better time to send out a blast than is a Friday at 1am! That said, with Brits checking their phones 1.1 billion times per day, your clientele might be different – pay this some careful consideration.
10. When in doubt, get some help – There is no reason for you to feel like you are in this alone; if mobile marketing is not your forte, or if you find that it is eating up too much of your time, consider hiring an expert. Expending a few hundred pounds per month on a mobile marketing strategy and implementation plan is a great idea, but do be careful – if you do not begin to see gains within a few months, you may need to assess the company with whom you are doing business and potentially change things up. Don’t spend thousands and thousands before realising that you are not seeing those costs recouped.

Are you looking to kick start your business, gain the funding that you desperately need to expand (or simply survive), and inject a dramatic new purpose into your career – and your life in general? Accelerator programs are the answer that you may be looking for. Aimed at start- up entrepreneurs who have fantastic ideas but who may be lacking in funds and/ or experience, firms offering Acceleration Programs are dramatically increasing in number year on year.

Barclays is one of an increasingly larger number of corporate giants and multinational firms who are launching their own Accelerator programs, partnered with Techstars, a well known leader in the industry.

Can an Accelerator Program help you and your Fintech business survive and thrive? Read ahead to learn more about these groundbreaking firms and find out if this is a viable and attractive option for you and your business.

What is an Accelerator Program?

Accelerator Programs are taking the business and financial world by storm, with countless organisations springing up and promising a huge, rapid boost for your business. Originally geared more towards start up culture and young entrepreneurs, Accelerator firms can offer their clients an opportunity to network, learn new skills, access to new customers and markets, and most importantly – they can help them to acquire the funding that they need to take their idea to the next level.

In December of 2014, The Telegraph assessed that there were 36 accelerator and/ or incubator programs across the UK, with the vast majority (over two thirds) based in London. Most are located in the so-called ‘Silicon Roundabout’ at Old Street station, home to over 1500 start ups and tech firms. It is important to remember that this number pales in comparison to the Accelerator programs in the United States, with numbers in the thousands (here is an interesting link to the top 20 American Accelerator Programs in 2015). Approximately 40 % of these programs are private enterprises, and over 25 % are run by academic institutions.

The most successful and famous US Accelerator firm is Y Combinator. This illustrious company has invested in more than 1000 start-ups, and their most successful past clients are Dropbox and Airbnb, companies that are worth more than 30 billion US dollars. This is clearly something worth looking into!

What are the Benefits of An Accelerator Program?

These firms can help young companies in their early stages of development to grow, flourish and learn. They often provide seed money and leadership, and research has shown that start-ups that qualify for and secure a place on an accelerator program are more likely to do well in the long term, with higher rates of success than businesses who do not engage in such a program. Money, success, investment possibilities, mentorship opportunities and new skills – these programs have myriad benefits; if you are small business owner or a young start up entrepreneur, it is worth looking into any accelerator programs you might qualify for.

From Start-Ups to FinTech?

At this point you might be wondering what all of these accelerator programs aimed at tech firms and young, kooky app companies has to do with you and the field of Financial Technologies. The answer may surprise you – more often, accelerator companies are branching out beyond the industries that they traditionally supported and taking an interest in other sectors. Restaurants, healthcare, fashion, and banking are all experiencing a surge in corporate- run accelerators, and Microsoft, Telefonica and Barclays are all offering similar programs.

Barclays Accelerator Program for Fintechs

Banking giant Barclays has entered the Accelerator ring with their new program, aimed at Fintechs (Financial technicians). While this program is officially linked with Barclays, it is actually offered by Techstars, “a global eco system that helps entrepreneurs build great businesses.” This is quite an advantageous partnership, as Techstars has years of experience in the industry, while Barclays has heaps of capital and a global reputation for banking excellence over the past 300 years across over fifty countries.

The Barclays Accelerator (Powered by Techstars) is a three month program billed as an ‘intensive start-up accelerator,’ that focuses on “financial technology innovation and disruptive solutions.” This program is currently being offered in London, New York, Capetown and Tel Aviv (although applications are currently closed), with plans to expand further in the near future. They allow between six and ten teams to participate at any given time, and this includes the potential for up to 120,000 US dollars per team.

Now that the program has been operating and thriving for over two years, success stories are starting to emerge from early Barclays Accelerator Alumni. From Squirrel, an app that helps lower income individuals save money and make ends meet, to Gust, a wristband/ app that helps people avoid long queues by using Bluetooth technology and information from past trends – these are interesting and successful companies that have benefited greatly from their affiliation with Barclay’s Fintech.

The Future of Accelerator Programs

It is safe to say that this trend is not going anywhere any time soon – Accelerator programs have been so successful and so ‘buzzed about’ in the media that it is certain that they will continue to expand. We can expect to see this model move from hardware and Fintech to ever more diverse industries. Experts are also predicting that more and more of the investment capital will come from crowdfunding sources, a way to spread the risk across a vast pool of people and create loyal users before the product or app is even completed.

Is one of Barclays Accelerator Program for Fintechs of interest to you? Keep an eye on their site to determine when new submissions will be accepted and start planning your application now.