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| The New Face of Entrepreneurs |
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According to unique studies by the Institute for the Future which looks forward
10 years and examined the prospects, influences and profiles of small business,
the face of independent entrepreneurs is changing and it may surprise you where
they’re coming from.
Where conglomerates and corporations once roamed the plains of big business
like the Tyrannosaurus Rex, a new species has been evolving right under their
noses. With a healthy dose of 'we can do better than this', people have taken
control and brought their careers and businesses home - literally. The face
of small business will dramatically change as seasoned baby boomers, kids fresh
out of school, mid-career women, 'mompreneurs' and new immigrants come together
to create the most diverse pool of entrepreneurs ever. Let's take a look at
this diverse pool of new entrepreneurs and see how they're changing the way
business is done all over the world.
The Baby Boomer
Many Baby Boomers have now reached the age of retirement, but they're not ready
to sit in the rocker on the front porch by any means. Seniors are far more active
then they have been in the past. They want the adventure of life to continue
and they're restless. At one time, social security and a pension may have supported
an individual nicely for the rest of their lives, but today the cost of living
requires supplementation. Many Baby Boomers find themselves over qualified for
simple part time jobs, or face being told they’re just too old to fit. Society
has refused to recognise the worth of the Baby Boomer's broad range of experience,
so the Baby Boomers are taking that experience and putting it into action themselves.
Why work for someone else when you can work for yourself?
The Gen Yer
Generation Y; lost between Generation X and the future. These kids grew up in
an age where technology took off at an alarming rate. They grew up watching
their parents suffer through company mergers, downsizing and countless layoffs
that made many wonder if job security was a myth.
Gen Yers have learned to distrust big business and the corporate world holds
no appeal for them.Gen Yers have learned the benefits of flexibility and multi-tasking.
They juggle their social networks on MySpace, FaceBook and their own personal
blogs with as much flair as a professional acrobat. Before they could walk,
the Gen Yers were taught the basics of entrepreneurship and now it's second
nature to many of them.
The Mompreneur
At one time, being a stay at home mom meant devoting so much time to your children
that you cut yourself off from the outside world. Of course this wasn't intentional.
Bit by bit you gave up your job, your hobbies and nearly every other aspect
of your life to be a devoted mother to your children. You were probably on the
tail end of the feminist movement of the 70s and 80s where women were told they
could do and have it all. Somewhere along the line, you realised this was a
short cut to losing your mind.
You still have skills, though, and you still need to feel connected and do something
worthwhile, both to make ends meet and to keep your sanity. In many households,
both single parent and households where only one spouse holds an outside job,
the internet has opened up new opportunities. Online business fits perfectly
into your schedule. You can still be home for the kids when they get home from
school and stay flexible enough for all of life's little emergencies.
The Professional Woman
The Professional Woman is putting her foot down and stomping out the stereotype
that business is a man's world. Rather than fighting her way through the glass
ceiling, she’s turning her back on it and finding her own office with a much
more appealing view. Women now outnumber men when it comes to degrees. Today's
woman is focused and knows it's okay to put off a relationship for a little
while. They're independent and fearless.
The Professional Woman has a high interpersonal IQ, is no stranger to a budget
and isn't distracted by video games. She's got better things to do. And while
her brethren are building empires and gaining levels in the virtual world, she's
out in the real world.
The Immigrant
What would you say if a potential employee told you he was bilingual, bicultural,
had many international contacts, and had one or two degrees from reputable schools?
You might say that was fantastic, and you might also be surprised this candidate
was an immigrant. Immigrants often have the drive to succeed that many natives
lack. The immigrant sees their new country as a place of opportunity and the'll
take advantage of all of it. As an outsider looking in, they ees things the
locals don't and it's that unique perspective that often takes them to the top. |
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| In Search Of Women Bosses |
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In an ideal world, the mere fact that there are more women on the planet than
men would guarantee that females share the top business positions with their male
counterparts. In the real world, there are in fact more women on the planet than
men, yet you would never know this by peeking into the corporate boardrooms of
the United Kingdom's FTSE 100. In our tobacco-conscious culture, wispy curls of
smoke may no longer hover above our country's conference tables as men puff away
at their pipes, but the atmosphere is still unmistakably testosterone-fuelled.
What's Wrong with This Picture?
This gross under-representation of women in top leadership roles is a sad state
of affairs that deprives our nation of the valuable insights, perspectives, and
contributions that half of our population could offer if allowed to do so.
According to a report cited in the European Professional Women's Network's editorial
"New Solutions for a Persistent Problem?" women will not get that much-needed
and long-overdue opportunity any time soon. The number of female executive directors
on FTSE 100 boards is only 15 out of 391 seats. In fact, the situation for women
in these spots has actually backslid to the dismally low 2002 standing.
Figure Flaws
The discrimination that women face extends into the corporate world's accounting
departments, where the salaries of female employees remain firmly represented
by the lower figures of our numbering system. In the August 29, 2007 issue of
the Guardian, Terry Macalister discusses gender bias in "Women Bosses Left
Behind by Men's Pay".
The invisible but omnipresent glass ceiling looms over all sectors of the
business world, from the lowest rungs of the corporate ladder to the highest.
The pay rates for the only two female leaders in FTSE 100 firms fell behind the
average salaries of their male counterparts by 75% and 25%.
What Women Have to Offer - and Why
In bbc.co.uk's August 10, 2007 report, John Byrne explores the unique qualities
that women bring to the corporate world in "Women Change the Rules of Business."
Entrepreneur and writer Margaret Hefferman believes that women are more willing
than men to take risks with their careers, out of sheer desperation to prove themselves
and earn the elusive places of importance in business. Hefferman notes another
difference between men and women with occupational aspirations: the women want
to gain their footholds on their own terms.
Those terms include a new way of looking at the very nature of the corporate world
and rejecting the traditional male view of ruthless competition, mechanical structuring,
and authoritarian leadership. Women are more likely to adopt a corporate style
that relies on orchestration and empathy, achieving goals by managing personal
relationships rather than managing persons. Successful female bosses rely on multi-tasking
ability, intuition, and understanding, choosing to lead rather than to dictate.
It is not surprising that many of these qualities are indispensable to successful
parenting, and women know from experience that taking the human factor into account
is crucial to any endeavour that involves people.
No Shortage of Barriers
If women indeed bring a wealth of resources to the conference table, why do they
usually visit that symbol of corporate authority in the role of administrative
assistant? In "Why We Need Women Bosses" at bbc.co.uk Dr. Val Singh
and Professor Susan Vinnicombe of the Cranfield School of Management cite obstacles
responsible for the failure of women to make significant and equitable headway
in the business arena, despite 30 years of equal opportunities legislation.
These barriers primarily fall under the category of misconceptions and
prejudices that have acquired the false patina of truth purely because of their
longevity. Consider just a few of these preposterous assertions. There are not
enough talented women to fill the executive positions (again, there are more
women than men on the planet).
Due to their devotion to hearth and home, women cannot possibly put in the time
and effort necessary to run a business successfully (although they manage to
raise children and run a household simultaneously). Or the classic Catch-22
comes into play: Women do not have the experience to be hired as top executives,
but they cannot get that experience until someone hires them.
Self-Sabotage through the Queen Bee Syndrome
Evidence presents the disturbing suggestion that some of the gender discrimination
that women suffer is self-inflicted. Psychologist Rocio Garcia-Retamero of the
Max Planck Institute for Human Development in Britain and her colleague Ester
Lopez-Zafra conducted a study of 705 female participants who reviewed credentials
of male and female employment applicants in a fictitious firm.
Women rated female applicants more harshly than men did, finding their gender
mates less qualified, less likely to earn promotions, and more controlling in
their management styles. City financier Nicola Horlick identifies this female-to-female
prejudice as the queen bee syndrome, demonstrated by women who see other females
in the workplace as threats and try to keep their co-workers recruited strictly
from the male side of the population.
It is easy to understand why women would feel this pressure to protect
themselves, given the resistance they must overcome to attain any top positions
in business. Is this fear making women ignore their compassionate inclinations
when dealing with female rivals, in essence adopting the hardhearted business
ethic they claim to detest in male form? Or is female bias against females
simply a research anomaly due to some sampling error?
Levelling the Playing Field
Three decades of disappointingly ineffective equal opportunities legislation proves
that you can mandate people's actions but not their attitudes. To achieve equality
in the workforce, women must fight their way through centuries of misguided notions
about female roles as well as multitudes of men who see nothing wrong with the
status quo. The best way to eliminate misconceptions is to disprove them, so women
must do whatever it takes to demonstrate their value in the boardroom. Considering
that the issues surrounding this subject are as complex as the women themselves,
the battle for equal employment opportunities will be neither short nor easily
won, but luckily women are up to the challenge. |
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| Dating agency’ to help companies compete for London 2012 contracts |
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»Dating Agency for business launched to help
Welsh companies compete for London 2012 contracts
A groundbreaking ‘business dating agency’ to help companies based in Wales
compete for business opportunities helping deliver the London 2012 Olympic and
Paralympic Games is now up and running.
The ‘London 2012 Business Network’, www.london2012.com/business
, will help companies in Wales compete for London 2012 direct and supply chain
contracts. The CompeteFor service, being launched as part of the London
2012 Business Network, is a ‘business dating agency’ that will match companies
in Wales to opportunities subcontracting and supplying London 2012 contractors.
CompeteFor, which is co-funded by the Welsh
Assembly Government, will also link companies with Assembly Government funded
business support which will help boost the long-term competitiveness of companies
in Wales.
For more information and to register for free, go to: www.london2012.com/business
»Social networking sites costs UK plc £6.5
billion in lost productivity
The recent popularity of social networking sites such as Facebook, MySpace and
Bebo are costing UK corporations a reported £6.5 billion annually in lost
productivity. The poll by Global
Secure Systems asked 776 office workers, who admitted to spending
at least 30 minutes a day visiting social networking sites whilst at work, with
two of those questioned owning up to spending three hours a day on the
sites.It is not only lost productivity which worries employers but the extra
demand on internet bandwidth. Between 15 and 20 per cent of firms' current bandwidth
is taken up by networking sites and many believe the only way forward is to
ban them.
»Retailers turning to new technologies
to retain market share
Faced with the threat of online retailing and other pressures, retailers globally
are seeking to win back market share by making the customers shopping ‘experience’
more theatrical, with emphasis placed on the sensuous elements of an in-store
shopping trip. According to a new report by independent market analyst Datamonitor,
the next step in the battle to retain customers’ is to streamline the buying
experience, bringing it more in line with internet shopping in terms of ease
and speed of transaction. The report “Shop X: where’s the store heading?” examines
the most pertinent technologies helping retailers achieve this, with advice
to both retailers and technology venders for development and application.
»Survey reveals 9 out of 10 online
buyers experience transaction problems
A new study reveals that nearly 9 out of 10 (86%) British consumers who have
conducted transactions online in the past year have experienced problems completing
transactions. The survey, conducted by Harris
Interactive, and commissioned by Tealeaf,
the Customer Experience Management software provider, highlighted an unforgiving
attitude towards online stores, with 37% of those who have experienced problems
when conducting an online transaction in the last 12 months saying they would
abandon their transaction entirely if they experienced a problem. According
to the survey, consumer intolerance of an online experience is exacerbated by
poor customer support from contact centres when people seek to rectify the problems
they encounter.
»Online sales in the UK to almost triple over
the next five years
A new report from Verdict
Research reveals the fastest rate of growth in the online sector since the
busting of the dotcom bubble in 2001. In 2006 online retail spendingin the UK
grew by 33.4%, to a record £10.9bn, almost 13 times faster than the retail sector
overall. It means that over £1 of every extra £3 spent on retail in 2006 in
the UK was claimed by an online retailer. But unlike five years ago Verdict
Research sees no reasons for an end to the boom and the retail analysts expect
online sales to almost triple over the next five years (to £28.0bn in 2011).
Much more widespread use of low cost broadband services is a leading reason
for the boom in online shopping. Of the 3,000 consumers surveyed for the report,
two-thirds of the online shopper population (which now numbers 18 million),
said they have broadband access and shop online more frequently because of it. |
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| Invitation to The Microcredit Summit Campaign |
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The Microcredit Summit Campaign
July 28-30, 2008
Bali International Convention Center
Nusa Dua, Bali, Indonesia
We invite you to join the top leaders in the fight to end global poverty.The
Microcredit Summit Campaign and Gema PKM will co-host the Asia-Pacific Regional
Microcredit Summit 2008. Microcredit Summit Campaign is working to ensure
that 175 million of the world's poorest families, especially the women of those
families, are receiving credit for self-employment and other financial and business
services by the end of 2015
Microcredit gained attention when Muhammad Yunus won the 2006 Nobel Peace Prize.
His Grameen Bank,
founded three decades ago in Bangladesh, has $521 million outstanding on loans
to small businesses in poor countries. High-profile microfinance investors include
Ebay founder Pierre Omidyar and Sequoia Capital, the venture capital backer
of Google and YouTube. An estimated 40 funds focused on microfinance have been
created since 2005. As many as half of the world's 3 billion poor may be eligible
for microloans. Average loan sizes vary from $100 in India to $1,530 in Bolivia.
For further information about the Microcredit Summit, to register online, information
on travelling to Bali, and much more please visit the web site:: www.inamicrocreditsummit.org/
Click
here to read what the press are saying about Microcredit loans.
Microcredit Summit Campaign
750 First Street, NE,
Suite 1040 Washington,
DC 20002
E-mail: info@microcreditsummit.org
Phone: +1.202.637.9600
Fax: +1.202.637.3566 |
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| Must Read - Dell vs. Cybersquatters |
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Dell vs. Cybersquatters: Domain Registrars Making a Killing on Similar Names
In a recent lawsuit, Dell Inc. is taking on several companies accused of
"cybersquatting". Cybersquatters make their money buying and selling
websites with domain names very similar to other companies, in this case, many
Fortune 500 companies. This misdirected internet traffic intended for Dell and
others is costing these corporate giants millions of dollars in revenue and Dell
wants it to stop.
The heart of the issue consists of web addresses that contain simple misspellings
that surfers might make when searching for well-known trademarks on the internet.
"Typosquatters" redirect surfers to other sites rife with pay-per-click
advertising which creates revenue for the domain owners. Dell's attorneys say
that these registrars have 1.8 million of these domain names similar to many in
corporate America in their possession.
Three of the registrars named are BelgiumDomains, CapitolDomains, and DomainDoorman.
But this incident doesn't stop at these three, it branches out into at least a
dozen other shell companies in the Caribbean used to register the various domain
names.
The suit goes on to state these companies are constructed in such a way that they
benefit from a process called “domain tasting”. This means the companies grab
as many domain names as possible, test the domain names and then get rid of the
ones that fail to drive enough traffic.
How can these people get away with such a practice? A policy established by the
Internet Corporation for Assigned Names and Numbers (ICANN) which states anyone
registering a domain name has a 5 day free trial to try the domain name or return
it. The defendants took advantage of the ICANN policy, managed to continuously
rotate domain names from one registrar to another, and in effect, never had to
pay for the long-term use of the domain names.
In one example cited by Dell, DomainDoorman registered the domain name "dellfinancncialservices.com"
on May 25, 2007. This particular name relied on the slip of an extra "n"
in "financial". Shortly after that, on May 30, the domain name was dropped,
only to be picked up immediately by BelgiumDomains. The name again got dropped
on June 4, and on the same day, CapitolDomains grabbed it. The cycle continued
until DomainDoorman once again took hold of the name on June 9, 2007.
One attorney for the case estimates these Cybersquatters averaged between 30 million
to 60 million domains on a monthly basis. This is a huge chunk of money when you
consider these numbers could apply to any given month.
Dell's biggest obstacle is going to be in proving how the names of the registrants
tie to the main companies involved. Richard Baron, an attorney for one of the
defendants, says "Without evidence of that king of collusion, they have next
to nothing."
Under current federal laws regarding cybersquatting, the minimum amount Dell could
hope to win is $1,000 per domain name. At this point in time it's difficult to
say whether or not Dell will win this suit. However, the claims were serious enough
to make one judge sit up and pay attention. While federal marshals raided the
home of a Miami resident with alleged connections to these companies (Juan Pablo
"JP" Vazquez), confiscating hard drives and additional computer components,
the court records were sealed. A temporary restraining order also barred the defendants
from domain tasting, making money off of, or deleting any of the domains in question.
Dell is determined to do "whatever it takes" to protect the integrity
of their brand name. Their spokesperson, Colleen Ryan, hopes others in the industry
will also take the steps necessary to keep this from happening to others. |
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| Women & Money - The New Power Behind The Purse Strings |
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Women Control Spending in Britain
A great deal of humour-both good-natured and otherwise-springs from the patriarchal
notion of females as silly spendthrifts who must be held in check by their more
sensible males, but women are now enjoying the last laugh. Recent research indicates
that the so-called weaker sex wields more power over money issues in the United
Kingdom than men, and female spending extends far beyond the traditionally feminine
domestic realm. Women now make financial decisions about aspects of life once
considered to be the exclusive domain of men.
Shifting Positions in the War of the Wallet
In a report of an online survey of more than 1000 adults aged 16 and older released
in July of 2007, Visa UK notes a dramatic turnaround in the way that financial
decisions are made. Since the 1990s, women have gained 30% more control over money
matters at the same time that men have lost 20% of their autonomy in finances.
Women are currently in charge of £400 million more in expenses than men per week.
Small-Scale Purchases to Big-Ticket Items
Some of the old gender stereotypes still hold true. Visa UK reports that women
still spend more on clothing than men, to the tune of a whopping £120 million
more each week, and they are responsible for 68% of the £1.16 billion in grocery
purchases. Visa's Senior Vice President of Communications, Fiona Wilkinson, assures
us that women still hold their longstanding titles in the arena of spending sprees,
losing out to temptation twice as much as men by making expensive, one-time purchases
with household funds. More surprising is the finding that women are the principal
decision makers for large-scale expenditures previously associated with men. These
major outlays include purchasing new automobiles, acquiring high-tech products,
choosing holiday destinations, and initiating home improvements. Females now exert
twice as much control than their partners in making choices about holidays and
home improvements.
Share and Share Alike
Gender distinctions used to put major household money issues squarely in the hands
of the men, whilst social norms relegated women to more minor economic decisions.
Today we find more couples assuming equal control over the household budget, with
51% jointly deciding on household insurance and 69% sharing the responsibility
for securing a mortgage. The five items that most frequently fall under this joint
fiscal jurisdiction, in descending order, are holidays, mortgages/re-mortgages,
home technology, cars, and household insurance.
Chasing the Money through Cyberspace
In a news release on December 12, 2007, the Office of Communications (Ofcom) states
that women use the Internet more often than men in both the United States and
the United Kingdom. In the 18-34 age group, British women log on at the rate of
57% versus men at 43%, putting females in the lead despite equal usage in all
other age groups. Commenting on the Ofcom study, the BBC notes that older forms
of media such as radio, TV, and even the relatively recent DVD are losing their
place in the hearts of Britons to newer technologies, and both the young and the
old are fully embracing the current "digital boom." With the Internet
claiming a huge chunk of this technology-focused time, it is no wonder that advertisers
in Britain have paid serious attention to the changing business marketing landscape,
one that features pop-up screens in a virtual world instead of banner headlines
in a physical medium. According to Ofcom, these efforts to entice potential customers
in cyberspace have reached record levels, with British advertisers investing more
capital per person (£33) than any other country. The accumulated advertising budgets
of Italy, France, and Germany represent less than half of what the United Kingdom
marketers spend, and the total outlay for Internet advertising now exceeds the
combined budgets for advertising used in outdoors venues, in theatres and on the
radio.
Motherly Concerns
The European Interactive Advertising Association Digital Women Report released
in 2006 accurately predicted the predominance of women as Internet users. It also
revealed that women with children visit the virtual world 14% more than other
women, and the sites they prefer are not traditionally female ones but rather
those concerned with travel and banking/finance. This pattern of web browsing
corresponds with Visa’s report about women's increasing power over decisions concerning
holiday activities and major financial transactions. As all-consuming as motherhood
is, many women nevertheless manage to keep a shrewd eye on the bottom line whilst
raising families.
The Girls Have Caught Up to the Boys
In "Girl Financial Power" in the Daily Reckoning's November 1, 2007
UK edition, Glynn Davis comments on Datamonitor's report that women in Britain
now represent almost half (45%) of the nearly 380,000 millionaires in the United
Kingdom, and that their yearly growth rate of 11% virtually ensures that they
will soon outnumber their male counterparts. Davis admits that many of these millionairess'
have acquired their money through inheritances or wealthy partners, but a growing
number of them are entrepreneurs who have built their own fortunes by creating
successful businesses. In the latest of the annual Management Today list of the
top 100 entrepreneurs, women now claim a 25% share of this elite standing.
Money Talks, and Everyone Is Listening
With so much wealth in the hands of women, there has been nothing short of a revolution
among the numerous businesses scrambling to persuade female consumers to part
with some of that money by buying their products and services. Male bastions are
crumbling all over England, with companies feminising or completely overhauling
their images, services, and goods to appeal more to women. Davis reports that
IKEA has noticed that most females reject the do-it-yourself marketing ploys and
now showcases its wares in ready-made, all-complete room settings. Even the once
stuffily male stronghold of banking has taken note of the fact that more than
4,000 women in England have liquid assets of more than £5 million. Coutts now
uses the lure of fashion to entice women by forming alliances with clothing designers
and sponsoring events that promote their apparel lines-and simultaneously get
potential female customers into its establishments.
Laughing All the Way to the Bank
With experts predicting that women will continue to gain increasingly more power
over financial concerns, there is no telling how far females may go in the future.
One thing seems certain, however. It is time for men to start working on some
new jokes about who controls the purse strings. |
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| Must read - The Internet and Small Business: A New Kind Of Partnership |
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In July of 2007, Capital Access Network released a study of the affect of internet
tools on small business. The study showed that while many small business owners
were aware of internet tools, very few actually incorporated them into their businesses.
How Important is The Internet To Small Business?
The internet has become an essential part of our lives. We use it to stay connected
with family and friends across the globe, we use it for entertainment and news,
and most of all, we use it for business. Every aspect of business, from concept,
to production, to the final sales are done over the web- so why aren't more small
businesses using the tools available to them? Small business owners use the 'net
everyday too, whether it's for personal or business needs. They can easily look
up the competition and see what their rivals are up to. A whopping 46% of small
businesses derive their revenue from the internet and more than 60% spend at least
14 hours a week online. The successful small business owners have learned to integrate
online marketing with more conventional means of promotional campaigns.
For example, blogs have become a driving force in marketing small businesses,
but only 11% actively use blogs. Some of this might be accredited to the reputation
of blogs as being an underground trend of computer geeks and teenagers. That reputation
is changing, though. Many people have recognized the power of the blog and the
potential it has for connecting to visitors on a personal level.
Traditional Marketing vs. Online Opportunity
Until the internet came along, the traditional means of marketing included print,
television, and radio. Public relations were done face to face or over the phone
and required long, costly business trips. With the advent of the internet, the
world became a much smaller place. International business isn’t just for the big
corporations anymore. A work at home mom in Burbank, California could easily have
clients in Sydney, Australia and never have to miss an afternoon play date with
her toddler. Today’s top marketing vehicles are:
1. Internet Presence/Website
2. Referrals/Networking
3. Community Relations
4. Public Relations
5. Social Media/Internet Tools
6. Print Advertising
7. Radio/TV Advertising
Social media, such as blogs or message board forums, haven't taken hold yet, but
they are on the rise. Once used for social networking, people have begun to see
these tools in a different light. Many people see how effective a blog or message
board can be to communicate with potential clients. Blogs and message boards have
the ability to generate an incredible amount of new business leads and customers.
So What’s The Downside?
Not only did the CAN 2007 survey set out to find the current level of internet
awareness among small businesses, they also wanted to identify any obstacles that
might stand in the way. While many small business owners understand the need for
a strong web presence, many have limited knowledge of how to put these tools into
action. Despite this, the report states that 43% of those polled plan to increase
their budget to allow for internet tools, compared to 2006 where only 29% budgeted
less or nothing for website development.
The primary reason for small businesses avoiding the internet as a marketing tool
is money. Many small businesses simply do not have the funds available for effectively
increasing their web presence. Given time, this will change too as smaller businesses
specializing in web design come to the forefront, meeting the needs of other businesses
like themselves.
The Top 3 Factors Affecting Small Businesses
The 2007 CAN survey helped pinpoint other factors besides social media that impact
small businesses for the next five years. These factors are:
- Overall expansion
- Development of additional marketing and advertising campaigns
- Securing an active web presence for their small business on the internet
Environmental and political factors came in dead last in the survey. Overall,
small businesses know without a doubt that the internet is here to stay. In order
to remain competitive, these small businesses are going to have to step up their
game if they're going to remain on the playing field. |
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| Women and Travel - Doing Business in Italy |
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According to information published jointly by the World Bank and the International
Finance Corporation in their recent report, Doing Business 2008 - Italy, the country
ranks 53rd out of 178 economies for the ease of doing business. The same report
ranks Italy 65th for starting a new business. This ranking puts it behind top
- ranked countries like Australia and the United States for new businesses, but
ahead of other European countries such as Germany and Spain. Even though it ranks
fifth among industrialised nations, the majority of businesses in Italy are small
or medium in size. Information from the United Nations Economic Commission for
Europe Gender Statistics Database indicates that in the year 2000 women-owned
businesses only accounted for 24% of the total number of businesses. So, as a
woman conducting business in Italy, you will be in the minority. Doing business
in Italy may require you to make some adjustments if you are primarily accustomed
to the business environment in the United Kingdom (UK).
Here are some of the business challenges that you may face as a woman doing business
in Italy:
• Making the right first impression
• Overcoming language barriers
• Setting a business appointment
• Understanding the Italian business atmosphere
• Travelling safely in Italy
Making a positive first impression is crucial for business success in Italy. In
fact, creating the right impression is so important that the Italians have a word
for it: Bella Figura. Appearance is a part of Bella Figura, but the concept involves
more than just how you look. It also has to do with how you are perceived, as
a whole, by others. Fashion is very important to all business people conducting
business in Italy. Dressing appropriately is part of creating that all-important
positive impression. Style is especially important for women engaging in business
in Italy. Remember that Italy is home to many prominent fashion designers. Take
care that your clothing and accessories are fashionable and up-to-date, but not
too revealing. A business suit or modest dress is appropriate. Even your shoes
will be noticed, so make sure that they are of a high quality, clean, and appropriately
shined or polished. Another challenge that you may have to deal with in Italy
is that of language. The official language of Italy is Italian and it is spoken
by 93% of the population. If you do not have a good understanding of the language,
you may wish to hire a translator to assist you. Be sure to hire someone who is
familiar with the local dialect because regional dialects vary greatly. There
is a minority of people in Italy who speak a language other than Italian, so make
sure that Italian is the language of your business contacts.
Remember that Italian culture revolves around family. Do not be surprised if
the business that you are contacting is owned and run by family members. Loyalties
to family members and to the local region typically are strong.
Making a business appointment is a formal process in Italy and is preferably
through a local intermediary known to both parties. Avoid using cold calling
because it does not work. Italian business people like to do business with people
that are known to them, preferably those that they have relationship with. Face-to-face
meetings are the preferred way of doing business, but meetings should be scheduled
several weeks ahead of time and confirmed by telephone or fax. Usually a first
meeting will be held in an office rather than a local meeting place. Be prompt
to your meeting, but be prepared to wait if your business contacts are late.
Your contacts will use the first meeting to determine whether they want to develop
a relationship with you. The business environment in Italy is more formal than
in some other parts of the world. Address all of your contacts by their titles
rather than by their first names. Many businesses have a formal structure, and
you should acknowledge that structure in your business dealings. Good manners
are extremely important. Conduct yourself with confidence and be positive, but
not pushy, about your business proposals. You will be expected to present a
business card with your name, company name, and contact information. It is a
good idea to have at least one side of your business card printed in Italian.
If you cannot do this yourself, you may need to hire someone to help with the
translation and printing.
Gifts are not typically exchanged at first meetings, but may be a part of later
business appointments. Wait until you receive a gift before offering one. Do
not give a gift with your company's logo.
When attending a meeting, be patient during negotiations and allow all parties
to take the floor. Do not use high pressure selling tactics because they are
generally not successful in the Italian business environment. Most Italian business
owners will see a meeting agenda as a suggestion, rather than a set program.
Do not expect an immediate decision to result from your business meeting. Italian
business owners usually take their time when conducting negotiations and making
decisions. It may take weeks, or even months, to get results from your business
appointment. Occasionally, it can take a year for a business negotiation to
reach a conclusion.
If you are a woman travelling alone, it is always a good idea to be cautious.
Italy is a developed nation and relatively safe for women. Take all ordinary
precautions such as locking your hotel room door and avoid going out late at
night. Keep a close watch on purses and any other valuables, just as you would
in any unfamiliar place.
In conclusion, Italy provides a positive and stable atmosphere for doing business.
Women business owners are still not common, but their numbers are growing. You
will face some challenges in order to do business in Italy. The most important
challenge that you will face, because it is crucial to your success, is that
of making the right first impression. Other challenges include: language differences,
getting a business appointment, understanding the Italian business environment,
and travelling safely.
» For more information on trading with
Italy please visit The Italian Institute for Foreign Trade w: http://www.italtrade.com |
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| Business Mentor - How to Deal With The End Of Your Business Partnership |
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Many partnerships and small businesses in the United Kingdom (UK) ultimately
fail. According to an Office for National Statistics (ONS) study of enterprises
with a Value Added Tax scheme, the number of VAT- based corporations in the
UK increased by 5.3 percent in 2006, while the number of VAT-based partnerships
fell by 2.4 percent during the same period. The most recent figures from another
report, published by the Department for Business Enterprise & Regulatory Reform
in February of 2007, indicated that only about 70 percent of businesses survive
more than three years after their inception.
Which small businesses are considered partnerships?
A business is considered a partnership in the UK when more than one person in
a business entity shares the risks, costs, and responsibilities related to the
business. Partners in a business partnership are considered to be self-employed
and must register as self-employed with HM Revenue & Customs (HMRC). Each partner
receives a part of the business income and shares in the expenses and liabilities
of the business.
Business partners may be acquaintances, colleagues, friends, or even family
members. Frequently, a husband and wife team will enter into a business partnership
together. If you are a part of a business partnership, then the odds are good
that your partnership relationship will end at some point in time. There are
many reasons for a business partnership to come to an end. Those reasons can
include:
• A professional parting of the ways - a disagreement about the operations or
future of the business
• A personal disagreement - one or more of the principal partners in the business
no can no longer get along with the other partners
• Financial problems - the business is becoming insolvent or is facing bankruptcy
• Death- one of more of the business partners dies
Regardless of the circumstances surrounding the end of your partnership, it
is best to plan ahead. The best way to plan for the end of your business partnership
is by creating a clearly written partnership agreement. If there is no partnership
agreement in place when your business dissolves, your partnership will be subject
to The Partnership Act of 1890.
A solicitor can help you design a comprehensive partnership agreement that is
right for your company's needs. As a minimum your partnership agreement should
answer the following questions about exiting or dissolving the partnership:
• What happens if a partner becomes incapacitated or dies?
• How much notice must a partner give if they wish to withdraw from the partnership?
• Can a partner's share in the business be sold to a third party?
• Can a partner's share in the business be inherited?
• How will disputes in the partnership be resolved?
• Will former partners be able to compete with the business?
• In the event the business is dissolved, how will assets be divided?
Another issue that you may wish to include in the partnership agreement is the
question of what will become of the company name. If the company has established
good will and has a good reputation, then the company name may be of significant
value. Will one partner be allowed to continue using it? Will the partnership
sell the name and divide the proceeds? The partnership agreement can answer
these questions.
Remember that when your partnership breaks up, the creditors must be paid first.
If the partnership does not have assets left to pay its bills, then the partners
must pay for the partnership's debt from their personal assets. If one partner
becomes bankrupt and cannot pay, creditors can pursue the remaining partners
for the entire amount of the debt. If none of the partners are able to pay the
partnership's creditors, then all of the partners may be subject to personal
bankruptcy.
If the partnership is a limited liability partnership (LLP) as defined under
the Limited Liability Partnerships Act 2000, then different rules regarding
creditors will apply. Refer to the Limited Liability Partnerships Act 2000 for
specific details, or consult your solicitor.
In addition to the legal issues surrounding the break-up of a partnership, there
are emotional issues to deal with. Many partners have found the termination
of a partnership to be as stressful as a divorce. In fact, if you are married
to your business partner, the stress related to ending the partnership could
pose a threat to your marriage if it is not managed properly. For a husband
and wife business team it is particularly important to keep all discussions
on a professional and not a personal level.
Even if you are not married to your business partner, there can be personal
aspects to the closure of your business. If the partnership was between friends,
will shutting the business down impact that friendship? If the partnership was
between family members, how will its closure affect the family relationships?
For optimal emotional health, as well as for practical reasons, former partners
should attempt to remain as amicable as possible.
Another emotional obstacle that you may have to overcome when your partnership
ends is a change of routine. Most likely you had certain responsibilities and
participated in certain activities as a part of the partnership. When those
responsibilities and activities are gone you may face a challenge as you attempt
to find new interests and activities to fill the void. Maintain a positive attitude
towards new opportunities as they arise.
The high number of business closures that occur each year demonstrates the need
to plan for the end of a partnership even before that end is in sight. A partnership
agreement can provide a solid framework for an orderly and smooth transition
when the time comes to dissolve your partnership. It is best to seek a solicitor's
advice to make sure that your partnership agreement adequately answers all issues
surrounding the termination of the partnership. Staying on good terms with your
partners as the business dissolves can ease any emotional issues that may arise
and protect your personal and professional relationships. Finally, when the
time is right, be ready to move on to your next opportunity.
Resources
You can purchase a range of legal documents please visit the website http://www.netlawman.co.uk |
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| Petition on the proposed - Family Business Tax |
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Please find below an extract from the Professional Contractors Group's newsletter
set to us with regard to a proposed new tax on family businesses. This is likely
to impact on our members, this new tax will impact on many family businesses set
up with a structure as advised by the Government, Business Links, the DTI and
accountancy professions for 30 years. It's radical - and members need to be aware.
Source : PCG special newsletter 04/08 - 6 February 2008
The Government is planning to launch a new Family Business Tax in this year's
Budget, which it claims is intended to tackle "income shifting". Please take
a few moments to tell them why they should reconsider their plans. Remember
- if you own a business jointly with a family member or anyone else, this will
affect you: don't miss your opportunity to do something about it.
Please sign the petition on the 10 Downing street website: http://petitions.pm.gov.uk
The petition asks the Prime Minister to abandon the current plans to introduce
a new "income shifting" tax on family businesses.
Please also consider writing to your MP on the subject and asking them to support
Early Day Motion 714 against the proposals. Advice on how best to go about it
is available here: http://www.pcg.org.uk
.
There is further information about the "income shifting" Family Business Tax
at www.familybusinesstax.co.uk.
The new laws, due to come into force from April 6th 2008, will:
» Mean a significant tax rise for jointly-owned
businesses where profits are distributed equally between a husband and wife
(or other family members / civil partners) and the recipients make differing
contributions to the business - in some cases, even business owners who are
not related to each other will be hit
» Deny married couples who are equally exposed
to the risks of running a business the right to an equal share in the rewards
if the business is successful
» Penalise people who followed the Government's
long-standing advice to set up businesses jointly
» Make it impossible for businesses to self-assess
their tax bills, and leave them perpetually looking over their shoulder in fear
of an aggressive investigation by HMRC, in which they will have to prove that
they have done nothing wrong
» Be totally inconsistent with divorce law,
as couples will be entitled to equal shares in the value of the business in
a divorce, but not to equal shares in the profits while they are married
» Be totally inconsistent with capital gains
tax rules, as couples will be entitled to equal shares in the proceeds from
business when it is sold, but not to equal shares in the profits when they own
it
» Reverse the independent taxation of spouses
in respect of couples who own businesses, even though the Treasury's consultation
paper does not explain what has changed that would justify this reversal
» Impose crushing burdens on small businesses
who will have to record every contribution made to the business, simply to defend
themselves against an attack from the Revenue - that time could be better used
generating wealth for the economy
» Fail to recognise that dividends or other
profit distributions are a reward for taking risk and are not simply income
comparable to a salary. |
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| Women in the News - British Woman Breaking New Ground In Africa |
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| IT Corner - What Is Search Engine Optimisation? |
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Traffic is crucial in conducting business on the Internet through a website. That
traffic is being directed to your website is confirmation that your website exists.
Furthermore, you would be able to move the products and services that you are
selling through your website if there is incoming traffic. The higher the volume
of traffic that your website generates, the higher your sales shall be.
Search engine optimisation (SEO) is a process through which a website can effectively
pull in traffic from search engines. As it is, Internet users who seek a particular
product or information from the web turn to search engines such as Google, Yahoo
and MSN to point them to the right website or websites that would give them the
information that they want. Search engines, in turn, sift through the billions
upon billions of web pages that are indexed in their databases. They bring up
the websites that are most relevant to the keywords typed in by a user through
the search query and rank them according to relevance and importance.
SEO ensures that a website will get as high a ranking as possible in the results
page of a search engine whenever a user types in keywords in the search query
that can pertain to the website. With the stiffness of the competition on the
Internet nowadays, a high ranking on a search engine results page (SERP) is important
for a website to generate sales and revenue.
According to studies, a typical search engine user will only visit websites listed
on the first two pages of the SERP. To get noticed by search engine users and
to attract more traffic, website owners who want to do serious business on the
Internet use SEO to be placed in the first twenty ranks of the SERP. The higher
the website's rank is, the better.
There are a number of approaches that practitioners of SEO use whenever they optimise
a website for search engines. Different practitioners use varying methods. The
critical factors that these practitioners work with when optimising a website,
however, remains constant.
The first factor involves the keywords to be used with the website being optimised.
The keywords are the words that search engine users type in on their search queries.
The relevance of a website to a particular search query depends on the placement
of keywords on the content of its pages and in the code used in designing the
website. The more relevant a website is, the higher its rankings on an SERP.
Using the right keywords is the first important step towards optimising a website.
SEO practitioners carefully choose the keywords to be used on a website through
various means, including surveying potential customers and using online tools
such as Overture and Wordtracker. These keywords are tested for their relevance
and performance before they are used.
A website's accessibility is another factor that SEO practitioners look at when
optimising a website. A website's accessibility refers to the integrity of the
website's links, the validity and cleanliness of its code, the performance of
its server, the size of the web pages being loaded, and the usability of whatever
applications are present on the website. Accessibility measures a website's performance.
A website that has many broken links, loads up far too slowly, or is always experiencing
downtime are highly likely to be passed over by a search engine’s automated crawlers.
When this happens, it always results in low SERP rankings for the website. Moreover,
human visitors also do not like to browse through a website that does not perform
well. Accessibility is not just a measure of performance but also speaks of how
professionally a website is designed.
There are many other factors that SEO practitioners examine whenever they optimise
a website. These factors include the website's URL, metadata and information structure.
A website must have a URL, tags and metadata that are relevant to the keywords
used in search queries. The information structure of a website refers to the use
of its site map and category pages. Ideally, a web page should be no less than
two or three clicks away from the website's home page.
Inasmuch as a website needs to have a high ranking on an SERP, it is also important
for the website to deserve its high ranking so that it would be worthwhile to
visit the website. This means that a website that has been optimised for search
engines must look and feel that it was made by a professional. A website that
is professionally optimised has a design that is not only attractive but also
easy to load, easy to use and easy to navigate. High quality content is also important.
Traffic is important to the life and purpose of any website. In order to generate
traffic, a website must be optimised for search engines. However, it is not enough
that a website grabs high rankings on an SERP. It must deserve its high ranking
in order to capture returning traffic.
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| Editor's Book Picks - The Mothers Of Invention |
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Great inventions have changed the way we live today. Some of them have obviously
made a difference, such as airplanes, computers and cell phones, but some inventions
have been overlooked, even though they have had a major impact on our lives.
While there are many famous inventors that are men, there is also more than
one famous female inventor. As posted on Amazon review, both the brassiere and
the jockstrap were invented by women,and the cordless phone is an invention
of Terri Pall. Susan Huhn invented the most reliable and mobile voting machine.
The brilliance of physicist Dr. Stephen Hawking is transmitted through computer
technology invented by Martine Kempf, Leslie Dolman and Carrie Heeter. And Hawking
studies the universe in good company: Jocelyn Bell discovered the pulsar, and
women invented the Mars rover and the space suit. Dr. Gertrude Elion's immunosuppressants
make lifesaving transplants possible, including bone marrow transplants, which
were Dr. Suzanne Ilstaad's revolutionary treatment for end-stage cancers and
anemias.
The Book Feminine Ingenuity: How Women Inventors Changed America (Paperback)
by Anne Macdonald is a well-documented chronology and describes not only the
inventions of women but also the social milieu, the setbacks, and the successes
of the women who designed them.
Cost: $25
(Amazon) |
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| Planning To Be Your Own BOSS? |
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Your Easy to Use Business Plan Guide
The Importance of the Business Plan
In the UK alone around 400,000 new businesses are started every year, a third
of all new businesses are set-up by women. Starting your own business will be
one of the most important decisions you will make in your life. But whether
you are setting up as a home business entrepreneur or in separate premises,
there will be some challenging times ahead. Setting up a business is a
serious undertaking which will needs more than a good idea. Before you are able
to secure funding or make any sort of progress on your way to starting up your
venture, you need a business plan. As few entrepreneurs have the money to invest
in their own business, investment is often crucial to get your plan off the
ground. As a result, it’s essential that you concentrate on developing business
strategy to convince potential investors that they should give you money. Banks,
or other investors, will want to know what type of business you are starting
up, how it will be structured and how it will make money. This is an ideal opportunity
to analyse the strengths and weaknesses of your idea, business planning provides
you with the foundation stone for your new venture.
If you were to go to your local bookstore and stroll up and down the aisle that
contains all of the business books, you may be surprised by the amount of construction
language that you see in the titles. Successful business owners have discovered
that the key steps to owning and operating their own businesses are similar
to the key steps of building a house.
Before you jump into the process of building your own business, it may be
a good idea to look at the process of building a house to understand the best
way to have a long-lasting, successful business. Keep in mind that you may have
to roll up your sleeves and get your fingers dirty in the process.
No one starts construction on a house without a blueprint. You must have a structured
plan in place in order to build a house that will look right and will last.
A good plan also helps you to make sure that you don’t forget any details while
you're under construction or helps you think of things you might have missed
when you put your ideas to paper. Likewise, when you are building a business,
a good plan is essential. Having a good concept isn't enough to start a business
that will last. You must also know where you are now, where you want to go,
and how you will get there. Not only will there be countless details to keep
track of, but a good plan will help you monitor your goals and track your growth
and success.
Start by deciding your vision of what you want your business to be in five years.
That period is a realistic and reasonable goal for any business owner. Next,
set down where you are right now, and this is probably at the beginning. If
you were building a house, you'd be standing on a piece of untouched land, dreaming
of your final home.
Finally, figure out the steps you need to take to get from here, a fresh lot,
to there, a finished home (or in this case, a business). Decide major points
of each building phase, and then break things down even further into smaller
steps. Any project is much easier to handle when everything is broken into small,
manageable chunks.
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Planning to be your own BOSS?
Request a
copy of Your Easy to Use Business Plan Guide
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| Sponsors Ad - Ever Considered the World of Mystery Shopping? |
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Woman in business on the move? Add your site! |
Our newsletter shares helpful news and information with women entrepreneurs around
the world designed to keep the business women in touch with key events, relevant
research and, most importantly, each other!
We provide news, events, and online resources that will involve, inspire and inform
you and others like you.
Best Wishes
The Bag Lady Team
t: 0870 8965246
f: +44 (0)29 20 946888
e: enquiries@bagladyit.com
w: www.bagladyit.com |
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