If you have a business or are thinking about starting one you might be asking yourself ‘does my business need an accountant?’ There are lots of other exciting and important...
Supporting businesses locally is vital for the economic wellbeing of the region and, ultimately, the whole country.
Local businesses are for vital for supporting the communities they are a part of, just as the communities can help support the businesses in their area.
Burnley has been named a business-friendly town for a reason: because it provides the kind of dynamic, supporting environment that encourages local businesses to get started, and to grow.
Burnley Business Week runs from 9 to 13 October and is designed to offer a focal point for business support in the area. Now in its sixth successful year, Business Week provides expert advice and guidance, covering key areas and issues.
Locally, DBA Accounting Services offers business accounting advice in Burnley, and we know the value of good business assistance, support and encouragement, which is why we’re keen supporters of Burnley Business Week.
What’s Business Week About?
Burnley Council, in partnership with business support agencies, has put together a week of free masterclasses, training session and seminars, aimed at anyone with a business or wanting to start one.
The idea is to help existing businesses grow and new businesses to get off the ground – whatever their size, or nature.
There will be a diverse range of sessions covering different issues and aspects of both starting and running a business.
These include: advertising and marketing; corporate and social responsibility; key aspects of accounting and taxation; GDPR compliance; design; using social media; and business basics.
In short, it is a one-stop shop for valuable business insights and information, whatever stage you are currently at.
Burnley Council’s Executive Member for Regeneration & Economic Development, Sue Graham, has emphasised how important business is to the town’s prosperity, and that the week-long event should appeal to all types and sizes of business.
“Burnley was recently named a leading business-friendly town,” she says, “ranking a fantastic eleventh place in the UK.”
Aspects of Business in Burnley
One of the great strengths of Burnley Business Week is the breadth of what it encompasses: it’s not restricted to just business basics, though it comprehensively covers these too.
Rather, it reflects an increasing awareness of how business and the communities it both serves are intertwined.
So, one of the issues the event covers is corporate and social responsibility.
We live in a world where increasing numbers of customers, particularly younger people such as millennials, make decisions about whose services they use, or who they wish to work for, based as much on values as on monetary value or return.
Business in the UK is increasingly value-driven, and this is reflected in the way companies must now comply with certain areas of corporate responsibility; as well as demonstrate their social credentials.
This also dovetails with using social media, another issue Business Week covers. Social media is a powerful marketing and sale tool, but only if businesses learn how to maximise its use for their own growth potential.
A big part of using social media involves generating effective written content. One of the event’s sessions will be Advertising and the Power of Persuasive Writing – very useful for any business wanting to boost their online presence and explore the potential of social media.
Persuasive writing figures large in email marketing, another business aspect featured in the programme of sessions.
Key Issues for Businesses
There are issues all businesses face that involve compliance and keeping up to date with the latest regulations.
One of these is GDPR compliance, the EU’s General Data Protection Regulation. This will come into effect next year, May 2018, and will mean much greater accountability.
Along with this come harsher penalties for non-compliance, 20 million euros or 4% of a company’s annual turnover.
If anyone suggests that the UK leaving the EU will make this no longer relevant, think again. Any company outside the EU that offers goods or services to EU citizens will have to demonstrate that it has put in place fully compliant data protection measures.
Business Week will also shed light on areas that may well be of interest to people starting up in business, such as the Prince’s Trust Enterprise Programme.
The programme is for 18 to 30 year olds who want to turn their ideas into business reality; and it provides mentoring support and training and funding and resources.
Accounting and Business Basics
As providers of accounting services, we know how important the business basics are, and Burnley Business Week makes a point of covering key issues, when it comes to putting your business’s foundations in place.
There’ll be a session on cloud accounting, which can prove an enormously helpful and efficient means for businesses to either set up or upgrade how they keep their financial records, and interact with their chosen professional accounting support.
Business Week will also cover R & D tax credits. This is a government tax break to encourage more UK companies to invest more in research and development. SMEs can, potentially, get back up to 33% of what they spend on R & D, providing what they spend it on meets HMRC’s qualifying standards.
Even larger companies can get up to 10% of their R & D spend back.
Will You Be There?
If you’re either starting a business in the Burnley area, or if you want to take your current business to the next stage, you simply cannot afford to miss Burnley Business Week.
Not only does it cover the basics and certain specialist areas, but it’s completely free. That’s a business deal that’s hard to resist.
Pop down to the Town Hall, Burnley on the week of 9 to 13 October and make your business count.
For more information about this great local business event, call 01282 477213 for a copy of the full programme of sessions.
Get In Touch
For business accounting services in Burnley and throughout Lancashire, please get in touch. We’re always ready to talk to you. Give us a call on 01282 902456, email firstname.lastname@example.org or visit the contact page on our website and fill in the form you’ll find there – we’ll reply just as soon as we can.