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In the current economic climate it can be difficult to keep things afloat. The last 5 to 10 years have seen many businesses struggling to get by, prompting dramatic changes of business models or steps towards insolvency or recovery. If you’re worried about your business it only takes a walk down any high street to see you’re not alone. Large retailers BlockBuster, HMV and Jessops have gone into administration since Christmas, so now is the time to take action.

Things are ok at the moment. What steps can I take to keep my business afloat?

With the current state of the economy, even if you are making profit, things can spiral downhill very quickly if you’re not careful. You’ll need a watertight business plan, so talk to an advisor. Their help can save you a fortune later on. They will help you see your business through the eyes of potential customers, including the shopping experience and services you provide. You might be advised to make changes, and it’s important you follow these changes through.

Things are already bad. What options do I have?

Insolvency and recovery options depend largely on just how bad your business’s financial situation is. If you notice difficulties arise, it’s important to take action as soon as possible and not to wait for issues to resolve themselves over time. If this happens you can halt your insolvency or recovery programme, but if your company is trading while insolvent directors can be liable for wrongful trading. You don’t want to find yourself facing legal action or being personally responsible for debts, so take action now. A financial advisor will guide you through your options, which may include refinance, administration and liquidation.

Liquidation is the winding up of a business so it ceases to trade. Creditors’ Voluntary Liquidation is the most common form in the UK, involving closing the business and selling its assets to pay debts.

Pre-pack administration is when the company is sold to a third party (the administer). This is a good option if you are under a lot of pressure to react quickly, but it does mean the administer can sell the company without the agreement of creditors – unlike in liquidation cases. It can, however, be sold to the current directors to create a phoenix company; essentially your old business with a new name.

If a bank (or other creditor) decides the directors aren’t suitable, they may appoint an administrative receiver to take over running the company. This person can sell off assets and recover money as they see fit, and will primarily serve their own interests. This is called receivership, and means the conduct of directors will be investigated.

Voluntary arrangements and voluntary liquidation are a much better option than court ordered compulsory options, but your business doesn’t have to get to those stages. Consider debt management, lending money or restructuring before your cash flow problems get out of hand. Business recovery experts will be able to help you, whatever your situation.

Every day, the web becomes more and more useful for sales people; and as technology advances, the likes of video web conferencing perfectly replicates face-to-face conversations in just a fraction of the time of a traditional sales trip. Being able to make personal highly effective sales pitches at the drop of a hat, anytime and with anyone from anywhere in the world makes closing a sale that little bit easier.

For those sales people who have finely tuned their phone routine over the years and are sceptical about the advantages of using video for meetings, here are a few benefits to make you reconsider:

1. Online meetings using video allows for facial expressions to be read. Much of how we communicate is through facial expressions, posture, intonation and eye contact – all of which are lost when using only the phone to seal a deal. A video call allows you to use all of these tools to your advantage.

2. Sales people often feel obliged to fill awkward silences. With video chat, because you can see the people you are pitching to, you can ask the questions you want to ask and then leave the client to answer in their own time – all whilst you have visual connection which reduces any uncomfortable silences.

3. Showing people who you are, what you look like and how you present yourself can bring a sense of trust. The background setting also speaks volumes about what kind of person you are. Video gives your client visual cues which illustrate how you do business.

4. When fostering a business relationship, face-to-face interaction is extremely important in order to connect and gain trust. This is even more vital when asking someone for their business.

5. The added tools you gain with video conferencing software allow you to present documents and research in an incredibly simple way, to help sway your potential client.

Embracing video web conferencing provides you with a whole new way to close the deal. By adding a visual component to your sales pitch, you will find a whole new world of opportunities.

And if you are a small business with limited resources, using technology to your advantage will benefit you financially by allowing you to meet with many people without the cost of travelling.

For those without financial limitation, using video conferencing still enables you to get in there first and gain a faster response. What’s more, being able to make a pitch with the key decision makers based in several locations, gives you the power to make the best impression no matter where people are. Video conferencing also enables you to get the best panel of advisors to take part in a crucial meeting to close the deal, showing you have the right people on hand as and when your client needs them.

Video conferencing has undoubtedly crossed the boundary of simple user communication and team engagement; it has now become an important strategic tool that sales people are using all around the world to pitch and close business deals.

Getting to grips with setting up a business website can be a daunting prospect. With over a third of the world’s population now using the World Wide Web, the way you present your company and run your website can be a vital factor to your success.

From your domain name and digital certificate, to social media, SEO and subdomains protected through SSL Wildcard, the array of elements to take into account when building up your site is phenomenal.

First and foremost, purchasing your domain should be a priority. Try to secure a memorable address – ideally your business name, containing less than ten characters. If both .com and .co.uk domains are available, it is worth owning both, and pointing the second over to your preferred domain – giving you ownership of the domain as a brand.

Once you have obtained your domain name, consider purchasing a digital certificate. This will give your customer base an added sense of security when browsing your website. Obtained through a trusted Certificate Authority, such as Symantec, a digital certificate will authenticate your identity and encrypt all sensitive data passed between browsers and your server.

SSL Wildcard can offer security on multiple subdomains under your primary domain. Web users are consistently seeking a streamlined and efficient Internet experience, and subdomains can make your website far more efficient. Whether you want to send credentials directly to your mobile-optimised site or to create direct page links, building in subdomains will enhance the usability of your business website.

As well as ensuring your website contains effective, SEO enhanced copy, it is also essential to pick up to five key SEO terms and have these running throughout key elements of your website. This will significantly improve your search engine ranking and make your business more visible to potential customers who use your key phrases as search terms.

Optimise your business website today with a digital certificate from a trusted Certificate Authority.

Grow you portfolio with these simple steps & see your stocks succeed

Online stock trading is an adrenaline charged, exciting venture. If you’re new to the game, there are many hints, tips and techniques you will learn to help you succeed. Unlike many other industries, the luxury of online trading is that it’s not about how hard you work, but about how smart you work. Equipping yourself with the latest information, analysing trends and really understanding your market sector will distinguish you from other traders, and ultimately see your stock portfolio expand.

Here are 5 simple tips and techniques for those beginning the game of online trading.

1. Choose the type of stock you want to trade:

It may seem a bit basic however knowing the types of trading markets and stocks available is the first step you should take upon your foray into the online trading world. With so many options such as day trading, short term trading or monthly trading and more, knowing the kind of trading you want to execute is imperative, as switching between trades will significantly impact your success.

Day trading is generally the lowest risk form of online trading as it requires you close out at the end of each trading day, thus eliminating any risks that can occur to your stock prices over night. Day trading is probably the most simple and effective form of trading for beginners however it does require you be at your computer for hours at a time, monitoring and trading before the close of day.

If you’re looking for more of a relaxed trade lifestyle the long term trade styles is for you, however it is recommended you’re educated thoroughly on all aspects of long term trades before undertaking this online.

2. Choose a good stock broker:

Like race car drivers have good mechanics, so do good traders have a good broker. When you’ve determined the style of trader you want to be, you then need to venture out and find a stock broker that adequately matches that style. For example, if you’re a day trader, you will need fast, direct access technology such as a specified software installation broker. This allows all your executions to be managed and sent directly, rather than being stopped at a third party’s online interface first.

Alternatively, longer term traders can opt for online brokers that act on your behalf. Submit an order to their online interface, and they’ll execute and perform the trades etc. for you. It’s simple and cost effective for this style of trading.

3. Master your own risk management:

While it may seem obvious to preach the ‘low risk, high reward’ method of trading, the truth is this is the best way to go about the online share market. You have to be responsible, and educated, in regards to your own risk management.

Trading stocks is a risky business; you need to make sure you’re fully equipped to foresee the dips and lows as well as the spikes and highs. Don’t assume it will always be a winning market! Once you can learn to control your risks, the better the results you will see. Also, make sure your trading style works in all markets. Learn to take advantage of both ups and downs of the stock market – be versatile!

4. Know when to SELL, SELL, SELL!

It is vital to know when the best time to sell your online stocks is. Everyone is so focussed on the when and how to buy, that not too many people will take the time to consider when to sell. The selling of stock is equally as important as the buying – if you’ve traded well and the broad market bias is behind you, you’re in a great position to sell and potentially increase your profit significantly.

Teach yourself, or learn from someone in the know when the best time to sell is – that is, know specific market conditions that will signal when the right time is to get out. Remember, the only way to turn your stock into real money is to sell them!

5. Don’t buy into or remain in an overbought stock pool:

This is one of the most important yet overlooked tips in the online trade game. If a stock or currency is overbought- you need to get out! There is no point having minimal investment in a diluted stock, know when the stock is at its strongest and monitor the buy in rate. Once it gets over-crowded, it’s your cue to exit.

An electronic download is comes under the definition of an Information Society Service whose definition is “Any service normally provided for remuneration, at a distance, by means of electronic equipment for the processing (including digital compression) and storage of data, and at the individual request of a recipient of a service.”There are certain rules and regulations, some of which are different to the regulations governing typical goods and services transactions. In order to comply with these rules, and not avoid fines and/or penalties, here is what you should know:

Electronic Commerce Regulations

Electronic Downloads are regulated in Europe by the Electronic Commerce regulations (ECRs) that came into effect in in August 2002 with the purpose of ensuring free movement of ‘information society services’ across the European Community. These regulations cover not only all EU Member States but all countries within the European Economic Area (including Iceland and Norway). The ECRs cover any marketing or selling of goods/services via the internet, email, interactive TV or texting and cover both B2C and B2B transactions. The ECRs stipulate the information that your company is required to provide your customers in all circumstances, including when you supply an information society service, when your contracts are concluded by electronic means and when you send out any commercial communications. The information that you are required to provide is mostly quite simple, such as the full name of your company and your VAT registration number, but for other information your company may be required to have processes in place to deal with them (you need to decide the technical steps that your customer must follow to conclude a contract and make them perfectly clear to all parties involved in the transaction.)

VAT on Electronic Commerce Transactions

The legislation surrounding VAT and electronically supplied services are some of the most complicated around and many will need to be reviewed on a case-by-case basis. Generally an electronically supplied service supplied in an EU Member State is taxable at the standard rate established by a Member State, unless an exempting provision in a Member State applies.

1. Supply to UK customer

Where a supply is made to a UK customer, the place of supply will be the UK. As a result, UK VAT will be chargeable at the current standard rate of 20% on these sales. This applies whether the customer is a business or private individual.

2. Supply to overseas customer

Where a supply is made to a company that is based outside of the UK, the treatment will depend on whether the customer is within or outside the EU and also whether the customer is receiving the supply in a business or private capacity.

Supplies to businesses

Under the General Rule for B2B transactions which was introduced in January 2010, the supply to a business in another EU Member State will be outside the scope of UK VAT. The business customer then accounts for the VAT due in their Member State under the reverse charge. Therefore, Incisive Media will not be required to charge VAT where the supply is to a business in another EU Member State. Incisive Media will need to complete an EC Sales List in respect of this transaction and meet the invoicing requirements.

Where the supply is made to a business customer based outside of the EU, this is deemed to be outside of the scope of UK VAT, and as a result, no UK VAT is charged. It is important to note that Incisive Media must be satisfied that the supply is genuinely used outside of the EU (rather than to a non-EU business who will effectively use the supplies within the EU). It is also necessary to recognise that if the customer is in a non-EU country, there may be VAT issues in their country, for example if the download is provided to them from a server in their own country. This would require consideration of the matter on a country by country basis.

Supplies to private individuals

If the supply is to a private individual in the EU, the supply will be liable to UK VAT at 20%. This is changing on 1 January 2015 when VAT will be due in the Member State of the customer – this will require local VAT to be charged by Incisive Media but there will be a one stop shop available.

If the customer is a private individual outside the EU, the supply will be outside the scope of UK VAT. However, as with the supplies to business customers, there may be VAT issues in the country of the customer. For example, in both Norway and Switzerland, there may be a requirement to register and charge local VAT because of legislation that has been introduced. We can advise on a country by country basis if required.