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STOP PRESS......

Entries are now open for the 2009 UK Enterprise Awards

The Awards are aimed at individuals and organisations who provide support to entrepreneurs and small businesses. The Awards will be presented on Thursday 16th April 2009.

In a year which has proved particularly challenging, the role of the advisers, coaches, mentors and others who encourage and support small businesses has never been more critical, according to SFEDI, the host of the Awards. Categories include awards for professional advisers, such as accountants, through to volunteer business mentors. There is also an award for the business owner or entrepreneur who has done most to support other small and home business owners.

Last year’s overall winner - the 2008 Champion Enterprise Supporter - was Terry Owens, founder of InBiz, an organisation which helps individuals and groups to develop enterprise skills, and so far helped more than 20,600 people move off benefit by setting up their own business. Link:    http://www.sfedi.co.uk/uk-enterprise-awards
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BUSINESS ARTICLE of the WEEK

Why things cost £19.95

Because buyers are less likely to negotiate a price down when they encounter a precise asking price.

NEWSFLASH of the WEEK

The Enterprise Finance Guarantee Scheme

With the banks reluctant to extend loans in the current financial climate, the government has announced the launch of the Enterprise Finance Guarantee Scheme (EFG), as part of an effort to stimulate bank lending to businesses. The scheme aims to help credit-worthy companies which might otherwise not be able to access the finance they need for working capital or investment finance due to the current tight lending conditions.

Under the scheme, the government will guarantee 75% of any loans made, with the bank covering the remaining 25%. The guarantees will mean that the government, or taxpayers, will pick up three-quarters of the the tab for any bad loans.

The Enterprise Finance Guarantee will apply to loans, and can also be used to convert existing overdrafts into loans to enable businesses to free up their current overdraft facilities to meet working capital demands.   It is available to businesses with an annual turnover of up to £25m. Firms can apply for loans of up to £1million and loans can be repaid over a period of up to 10 years.

The guarantee will be available through the following high street banks; Barclays, Clydesdale/Yorkshire Bank, HBOS, HSBC, Lloyds TSB, RBS/Natwest and Northern Bank. It will become available from other lenders if they wish to apply. The Enterprise Finance Guarantee Scheme will be open until 31 March 2010.

MANAGEMENT TIP of the WEEK

Its Time to Strengthen Bonds with Customers

A single-minded focus on slashing costs is a natural response to tough times, but it can be a huge mistake if it affects customers negatively. When the economic outlook grows bleak, customers become more selective about thecompanies they do business with. This means that you can't afford to let your bonds with your customers get looser and in fact, you need to strengthen them.

Try to balance cost-cutting with investing in customer relationships. Even relatively small gestures can send signals that your company values its customers. For example, send a thank you card with a feedback form after you completed an order for your customers.

EVENT of the WEEK

The Business Growth Show London

Date: 5 February 2009
Venue: New Connaught Rooms, Covent Garden
Price: free

The Business Growth Show is the UK's largest business roadshow. Entelliz is pleased to present an after lunch seminar on business support with some invaluable tips and advice for small businesses.

Click here to book online

Call us on 08450-56-96-36

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Entelliz Weekly Newsletter - week 4, 2009