Key Biz

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keybiz.co.uk - aggregated feeds in category North Yorkshire

Business

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  • BBC Business News: Rate rise on agenda despite China woes
    Bank of England governor Mark Carney says the decision on when to raise UK interest rates is still likely to be made at the end of the year, despite China's slowdown.
  • BBC Business News: HSBC glitch payments 'all processed'
    A computer glitch that delayed 275,000 HSBC payments has now been resolved, the bank tells the BBC.
  • BBC Business News: Brooks 'to return as News Corp chief'
    News Corp confirms it is in talks with Rebekah Brooks after the Financial Times newspaper reports she is to return as chief executive of its UK division.
  • BBC Business News: Ex-Sainsbury's boss slams Living Wage
    Justin King, the former chief executive of Sainsbury's, says the National Living Wage will "destroy jobs".
  • BBC Business News: Shanghai shares end wild week down 8%
    Chinese shares have ended the week almost 8% lower after volatile trading that started on Monday with shock losses and spread fear to global markets.
  • BBC Business News: HSBC clears '99%' of delayed payments
    HSBC says it has processed "99%" of payments affected by an IT glitch, with the remainder due to be completed overnight.
  • BBC Business News: CPS considers new hacking prosecution
    The Crown Prosecution Service is considering a file for a possible corporate prosecution over phone hacking at the now closed News of the World.
  • Money Saving Expert: Prevent huge bill shock as games firms told to stop pressuring kids
    Online children's games, Moshi Monsters and Bin Weevils, have been forced to clean up their acts by the ASA
  • BBC Business News: FTSE up after quieter trading day
    London's leading shares closes slightly higher at the end of volatile day at the end of a volatile week.
  • BBC Business News: Ashley Madison founder steps down
    The founder and chief executive of the Ashley Madison extra-marital affair website, Noel Biderman, steps down following data hack.
  • Business Matters: Getting to know you: Sean Mallon

    What do you currently do?

    I’m CEO and founder of www.bizdaq.co.uk, an online marketplace for buyers and sellers of businesses. We have built an online platform where businesses can be bought and sold without the need for brokers or agents, allowing our users huge savings on time and broker fees.

    What is the inspiration behind your business? 

    I’ve been helping small business owners buy and sell businesses for over ten years, and in that time the marketplace hasn’t changed much. I wanted to disrupt this industry by providing a more credible option for small business owners wanting to sell their business, by providing all the tools they need using technology as well as the marketplace to make it happen. When hard-working business owners decide to sell up, brokerages can help them find a buyer. But traditional brokerages tie business owners into strict 12-month contracts, are often too slow to act and charge sellers up to 15% of their sale fee. I’m inspired by our mission to give business owners the flexibility and price point to sell on with far lower outlay.

    Looking back, is there anything you would have done differently?

    Very little if I’m honest. I’ve made a lot of mistakes, but I learn quickly and pivot when I think its right. The biggest mistake I did make in the early stages of the business was not hiring our own design and development team. Early on we spent a lot of money on external contractors, and while the work was to a high standard, you cannot overestimate the benefit of having a team internally that is living and breathing the design of the site. Since hiring our own team, the business has accelerated further and we have the power to make instant changes to the site that improves our customer’s experience.

    Overall though, I think making mistakes is healthy and all part of the journey providing lessons are being learnt on the way.

    What defines your way of doing business? 

    I think it’s probably the passion to make a difference. I want to be the best at what we do but I want it to be done right, no shortcuts. Our team is driven by making a difference to small business owners and those aspiring to own a business, by providing an excellent service with all the guidance they need.

    Who do you admire? 

    I admire anyone who has the tenacity to start, buy or run a business – no matter what size. Business owners live and breathe what they do, it becomes all consuming in many ways. I also admire anyone who is married to a business owner!

    What advice would you give someone starting up? 

    I would ensure you set short and long term goals for your business, this is an easy way to measure your success and push yourself. I’d also start developing a great team as early as possible. I used to think I could do anything and would get involved in all aspects of the business, however I realised that through finding people who are better than you at certain things you will have far more success much quicker – so focus on what you are best at.

  • BBC Business News: VIDEO: Why India matters - in 3 seconds?
    Official figures show that India's economy is growing at an annual rate of more than 7%, the fastest of any major country.
  • Business Matters: The hidden value of your intellectual property

    For many UK business owners, the idea of intellectual property (IP) couldn’t be further from their minds. Most believe it’s something that doesn’t hold any value to them. After all, only large innovative companies within the tech sector need to be worried about their intellectual property – right? Wrong.

    What is IP and does my business have any?

    In today’s digital age, up to 80 per cent of the value of UK companies is made up of intangible assets, such as intellectual property. But what actually is IP and how can it benefit your company?

    There are many common misconceptions about IP: “Only big companies like Apple and Samsung have valuable IP” or “it’s only for those in the tech or healthcare sector” are two I hear time and time again.  In fact, this couldn’t be further from the truth. If you are a business owner, the chances are your business will own some form of IP, no matter your size or field

    In the simplest terms, IP protects your company’s creative output such as its name, logo, products (including names, design and packaging), website design and website content. These assets are protected by different types of rights, trade marks, patents copyright and designs.

    Why is it important?

    As your business grows the value of these rights will grow with it so its vital to identify them at an early stage. If your company is building a brand it should seek to register the name as a trademark. If it is creating new products, these can be protected by registering designs to cover their shape or patents to protect how they work. Copyright protects everything from web design, blogs, tweets to surface decoration of clothes, books and plays. Even databases can be protected.

    Once identified and appropriately registered your IP becomes an asset that can be licensed or sold and protected by law i.e it has real value.

    US businesses do not dream of raising funds without having appropriate IP in place and UK businesses should adopt the same mind-set. Having a good IP strategy from an early stage will add real value to your business when you are looking to raise funds or sell.

    What do I need to do?

    Start by establishing exactly what IP rights you already have. The Intellectual Property Office has a great online IP health check that you can use to audit your business. If a fuller investigation is required, we advise you instruct an IP professional.

    Next make sure that when it comes to creating IP, you keep thorough records of who did what, when. These can be used as evidence should you be involved in any legal disputes. Prior to registration, only disclose details of your IP in confidence.

    Most importantly, create an IP culture within your business. Make sure all employees understand the importance of IP and the issues surrounding it. Whether you dedicate one person within the business to oversee the registration and protection of IP, or you outsource this role to an IP professional, the money you spend will be a sound investment in the future growth of your business.

    Lastly, to ensure your ideas are fully protected, look into purchasing intellectual property insurance. What many business owners fail to realise, until it’s too late, is that simply owning intellectual property rights will not stop others attempting to steal it. What it does do is give you the right, in law, to stop copycats.  IP insurance will cover the significant costs of taking legal action against infringers,  allowing you to build your business with confidence.

  • BBC Business News: 'Flash crash' trader hearing to proceed
    Navinder Sarao, the so-called "flash crash" day trader, fails in his bid to postpone his US extradition hearing.
  • BBC Business News: Brazil's economy enters recession
    Brazil enters recession, as official figures show the country's economy contracted by 1.9% between April and June, compared with the previous three months.

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