Business Planning

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Job Retention Bonus – £1k to those who Retain Furloughed Employees until January 2021

As the Coronavirus Job Retention Scheme (CJRS) winds down, Chancellor Rishi Sunak introduced a job retention bonus payment of £1,000 to employers for every furloughed personnel they bring back to work.   The incentive is part of a comprehensive scheme called “A Plan for Jobs 2020”. It is built to protect livelihoods and save the declining economy, which …

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Government Provides Employers £1000 to Take on Trainees

Chancellor Rishi Sunak announced in his summer statement that the government would be providing £1000 for every trainee that employers will accept. With the UK economy hard hit by the COVID-19 pandemic, the government is taking measures to rebuild and ensure that jobs are protected. They also put projects in place to remedy the unemployment rate, one …

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£2bn Green Home Grant for Homeowners

Households are set to receive grants of up to £10,000 to make their homes eco-friendly and save over £600 a year on energy bills while cutting carbon emissions at the same time which is also called the green home grant. But how does the scheme work? And more importantly, how does it impact contractors and tradespeople? As …

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How to Raise Your Prices the Right Way

Maybe you’re finding yourself swamped with new clients, and you cannot refuse new ones who want to get on board. This issue is a beautiful problem to have as an entrepreneur. One of the ways to address this is by increasing your price. Your new price would act as a filter that would sift through …

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How Much Should I Spend On My Marketing?

Would you believe that most companies fail in the introductory phase not because of the lack of business activity but rather because of disproportionate or inappropriate spending? When you first open a business, whether online or offline, a considerable amount of time, effort, and money must be spent to grow it. However, it’s also important …

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What is Good Value Pricing?

In the 1980s, Richard Thaler, the godfather of behavioural economics, came out with the Beer on the Beach Experiment and found that people on a beach were willing to pay more for a cold beer purchased from a five-star hotel than from a rundown grocery store. This goes against what traditional economics believe that, regardless of where …

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What are the Advantages and Disadvantages of Value-Based Pricing?

Value-based pricing is a strategy of assigning prices based on the customers’ perceived value of a product. Depending on its execution, your business can reap the benefits of this strategy. However, like every pricing strategy out there, it isn’t flawless. Let’s take a quick look at what value-based pricing is, and the pros and cons …

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4 Great Ways To Fund Your Business

Starting a new business is always a great idea. Many people dreamed of owning their own businesses; to finally escape the vicious cycle of the 9 to 5. In fact, most employees these days do not envision themselves spending all their productive years working for big corporations. Most of them hope that, at some point, …

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What is Value-Based Pricing?

A lot of nitty-gritty goes into putting a product or service into the market. There are research and development, production, and marketing as well as value based pricing. But all those are just the tip of the iceberg. Behind those major milestones are innumerable tasks that require time and resources. Naturally, businesses would like to …

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Business Ideas to Pursue While on Furlough

Being furloughed, especially during the COVID-19 pandemic, can be tough. The good thing about it is that you don’t really lose your job, so it is a relief to know you have a company to return to after the furlough period. However, being on furlough also mean you don’t really earn much either. This is …

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