Canalside Community Radio - Friday Feature

Last Friday Annette Griffiths and Denise McCormack joined Liz Stringer and Michelle on the Friday Feature (otherwise know as the womens hour - or four hours as we are on from 10.00am to 2.00pm). Michelle has recently joined Liz Stringer on Canalside Community Radio CCR-FM 102.8 as a regular on Friday mornings and each month we will be asking guests along to chat about themselves and also to pick various topics to discuss.

Annette runs two local groups for Slimming World, one at Macclesfield Rugby Club on a Tuesday at 5.00pm and the popular Tytherington Group at Tytherington Family Church on Wednesdays at 6.30 you can contact Annette for more information mob: 07814 003910.

If you want to lose some extra pounds for summer and need some help then pop along to see Annette who will give you all the help and support you could need.

Annette knows all about losing weight as she lost nearly 3 stone last year in order to have a hip replacement so she is talking from experience.

Denise is a Life Coach and runs a successful business Help To Empower, she specialises in career changes, relationship issues and weight management. The aim is to support and assist you to overcome your difficulties, deal with life's obstacles more effectively and to provide you with skills and techniques to aid you in accomplishing goals and ambitions. This may ultimately lead to a more self-sufficient, resourceful and confident you. You can contact Denise on Mobile: 07785 586878 email: denise@help2empower.com Web: http://www.help2empower.com/

Everyone had a great time we talked about very important issues such as were women better at DIY than men, some very very important issues such as how much could you realistically spend on excess baggage at the airport without your husband divorcing you and some very very very

extremely important issues such as how many sins did donuts have? We still did not find out the answer to that one but the donuts were delicious no matter how many sins they had.

If anyone from Happy Mondays would like to come and join Liz and Michelle on the first Friday of each month give Michelle a ring on 07784 128016.

Monday 10th May - Elaine Porter IFA

This Monday we are meeting at Fina at 9.30am and are delighted to have Elaine Porter joining us to talk about financial matters.

Elaine is an Independent Financial Adviser who set up her own business WOW Financial Services in July 2009. Elaine has a wealth of experience because she has working in Financial Services for 12 years, her most recent position being a Financial Adviser in one of the main banks.

Elaine tell us "I wanted to break away from being a sales person driven by targets to instead revert to the reason I qualified all those years ago and that is to provide good, honest, transparent Financial Advice. My vision is to make Financial Advice a lifestyle choice not just a solution for today but help coach women to plan for their future."

Elaine gives advice on all areas of financial planning from Personal and Business Protection, Savings and Investments and Retirement Planning. On Monday morning she will be giving hints and tips on clearing credit card debt and reviewing your portection policies to make sure you are getting value for money. Sounds a great idea and something we should all be focusing on.

If anyone has any specific queries or would like to speak to Elaine you can contact her via email or telephone her details are below.

Email: elaine@wowfs.co.uk Telephone: 01565 880 084 Web: www.wowfs.co.uk

Business Planning, Finance and Employment Law

Last Monday saw our very own Joy Daglish give us a very interesting talk on business planning and finance.  Some of you will not know that before starting Special People North Joy was in fact a qualified management accountant.  In addition we were lucky enough to benefit from Natasha Jones's experience who joins us from Cheshire Employment Law and specialises in this field. 


Business Planning:


Before starting up a business what should you be thinking about?

1. Competition – market research. Were there other organisations out there doing what I was going to do?
2. Understand the barriers to entry –
    a. growth in the for the sector;
    b. costs - registration and insurance.
3. Decision on how to set up the organisation – should it be a Limited Company or a sole trader? How do you make the decision?

Limited Company – advantages:


• Limitation of liability - the company is a separate corporate body and liability for payment of debts stops with the Company - the owners, shareholders are not personally liable.
• Perception - Forming a private limited company is an indication that a business is both serious, has a long term objective and is correctly managed.
• Funding – more likely to be provided by a bank, also business forecasts and balance sheets exclude personal influences.


Limited Company – other issues:

• Tax –flexibility of being able to determine the proportions of salary and dividends taken.
• Accounts - must use double entry book-keeping to produce the year end accounts including a balance sheet with statutory notes and statements.
• Administration/ management


A company director statutory regulations limited company accounts, statutory books and management as stated in the articles of association. The duties of a director are more formal than a sole trader.
• Renumeration- how and when get paid

 Sole Trader – issues:-
• Simplicity - inform government agencies of your intentions to go self-employed, start trading right away
• Limitation of Liability


There is no distinction between business money and personal money - all business debts are the personal responsibility of the sole trader. This also means that should the sole trader not be able to make suitable arrangements to settle any debts the personal possessions (including the house) will be fair game to the creditors.


• Tax – You must register with HMRC as self-employed even if you already send in a tax return.
• Accounts - Sole trader basic accounts can be quite simple as a formal accounting system is not required ; lists of income and expenditure supported by appropriate back-up
• Funding – personal finance included in the decision process
• Administration/ management


A sole trader has more flexibility regard to the administration and management of the business


Employing People:


If your business grows and you have more work than you can do yourself then if you pay someone to help you may become an employer without realising it.


A person can be called self employed but be regarded as ‘employed’. There are 2 different issues which arise;


• For HMRC purposes treatment relating to tax and NI varies (see www.hmrc.gov.uk)
• Employees have many rights such as holiday, sick and maternity pay and the right not to be unfairly dismissed or discriminated against.


The basis on which a person is evaluated as employed or self employed differs whether it is for the purpose of the Law or HMRC. Also HMRC can consider a person to be self employed and the Law considered the same person to be employed.



Consideration relevant for a legal evaluation of a person’s employment status is using the example of a domestic cleaner;



• Does a Master and Servant relationship exist? i.e is the person told what to do, how and when? Is the worker controlled?
A. Cleaner is asked to work every Monday from 10-2 and told what needs cleaning
B. Cleaner dictates when she works and decides what to clean.


• Who owns the equipment used to carry out the work?
A. Cleaning materials, hoover, mop and bucket provided for the cleaner to use.
B. Cleaner brings her own cleaning material and equipment.


• Does the worker work for other people?
• Can the worker send another person in their place (substitution)

If there is a chance that the worker you use may be considered by the Law as an Employee then there are 2 important items to remember;



1. Whether Ltd or sole trader?exposure
2. After 12 weeks they are entitled to Terms and Conditions of employment (otherwise known as a contract).This is a very important document and should not be simply copied.
3. The Termination/exit of an employee can lead to number of claims for compensation. Therefore before dismissing a worker advice should be sought from an experienced Employment Lawyer.

Finance:

A lot of decisions can't be made without first having a full business plan including financial forecasts and a cash flow. But what is a business plan – why write one at all? What are the key things to consider and include?


• Why should you write a business plan?


Even if you do not believe you have a need for a business plan, think about it. Just writing it will make you think about EVERY aspect of your business, things you may not even have thought about and by putting all the issues on paper you will be sure you have covered every aspect of your business.


• What the plan should include


An executive summary - this is an overview of the business you want to start. It's vital.
A short description of the business opportunity - who you are, what you plan to sell or offer, why and to whom. You must by this stage have done your market research thoroughly.


Your marketing and sales strategy –


The competition and know why you think people will buy what you want to sell and how you plan to sell to them.
Unique Selling Proposition?
Your management team and personnel - your credentials and the people you plan to recruit to work with you.
Your operations - premises, facilities, your management information systems and IT.


Financial forecasts –
Level of sales. This will help the reader understand how many sales you must make to cover your costs, and also how much financing you must raise to start up
Start-up expenses in a period of uncertain sales volumes. If sales are on credit (including via credit card) it may take up to four weeks for you to receive the cash.
Implementing the plan


Finally, a plan - living document and contain specifics regarding dates, deadlines and specific responsibilities. It should be constantly reviewed and updated, as well as being used in regular “plan versus actual” discussions.
Taking actions and being accountable for them.
Winning business plan will help to ensure that the business is fully focused on what is required to achieve the company’s goals.


• The audience for your business plan –

Banks? Investors? Anyone interested in your business? This is a vital first question, once answered it will direct how you write it.

Well Heeled Diva evening - February 25th Tytherington Club 7.30-10pm

The Well Heeled Divas is an organisation dedicated to female empowerment through entrepreneurship, leadership and wealth contribution and its aim is to help you do whatever is necessary in order for you to shine and be a success.
In practical terms, this session will give you an insight into how to find your passion, dump your fears and build a successful business - things we all strive to do but often don't quite know where to start.
Jane is one of the most sought after female speakers on the circuit so we are delighted that she will be with us next month.
To reserve you place at what promises to be a really exciting and inspiring event, please emailcontact@happymondaysnetworking.co.uk.
Price is £15 on the night and includes a glass of bubbly to celebrate your new-found Divadom!

Happy New Year

So it's a New Year and supposedly a new fresh start, so why I am freezing cold,  sat with 2 pairs of thermal socks on, thermal underwear trying to work while looking after 3 kids who will it seems never go back to school.
So I have decided my new year commitment to working more productively and expanding my business and developing Happy Mondays starts next Monday, which coincides with our first meeting.
See you all there and enjoy the snow and sunshine.