Most of us would love to work from home – maybe not all the time but at least one or two days a week. But the reality is that a lot of us don’t think that working at home is a ‘luxury’ that they can afford.

But do you think that you could truly do your work at home and be just as effective and productive? If the answer is yes, here is MoneyTowers.com’s step by step guide to help get your boss to say ‘yes’ to your request to work from home.  Read more... (626 words, 1 image, estimated 2:30 mins reading time)

When you start a new business few people have the whole cash reserve required – and so one of the big questions about new companies is whether to choose debt or equity.

Firstly, it is important to understand the difference between debt and equity financing. Some of the key features and differences between debt and equity financing are outlined below:

Debt Financing  Read more... (561 words, 1 image, estimated 2:15 mins reading time)

• Must be repaid/refinanced

It’s not the easiest time for small business owners – many are finding that customers are harder to come buy and those that are buying are bargaining hard. However it is still possible to grow your business in these difficult times. Here are 5 top tips to help you increase your business’ sales, turnover and profitability.

1. Free samples
Let your product speak for itself – send out free samples to your target demographic. If your product really is as good as you claim it is, sales should follow. The one caveat is that you should target your audience as much as possible to maximise sales – there’s no point sending out samples to uniterested parties as the sample will rarely convert to a sale.  Read more... (437 words, estimated 1:45 mins reading time)

With many companies making staff redundant, many people are considering setting up their own businesses. However in the current economic climate, it can be difficult to access funding from banks and some new business owners are looking for more than just a loan, they are looking for experienced entrepreneurs to help them get their fledgling companies off the ground.

Business Angels can be the answer. Business angels tend to be entrepreneurs or retired executives who are actively looking to back new companies.  Read more... (339 words, estimated 1:21 mins reading time)

Business plans are a key part of a new business, particularly if you require funding. Here at MoneyTowers.com, we have put together a short guide to the most common mistakes that people make when writing their business plans.

Procrastination
Many people who start a company will only write a business plan when they absolutely have to. If you need funding for your business, the chances are that you will need some sort of business plan therefore it is better to be prepared and get the plan out of the way before your investors or bank ask for it. A business plan is a good idea, even for those who are not looking for funding, because it helps to set goals and targets for the company, and helps you keep an eye as to whether your company is on track or not.  Read more... (608 words, estimated 2:26 mins reading time)

There are a daunting number of types of insurance that you may require for your business and can sometimes be difficult to work out what insurance you need for your fledgling company. Researching and buying each insurance can also be a time-consuming exercise, although it is possible to buy ‘packaged’ insurance where the most common insurances for your business are tied up into one easy package for you. Packaged insurance is sometimes a good option as it ensures that there is no duplicate cover in your insurance packages. You also get one set of insurance documents which makes filing a whole lot easier!  Read more... (650 words, estimated 2:36 mins reading time)

Previously, we wrote about how to write a job ad to attract the sort of people you are after. Hopefully you’ll now have a pile of potential employees – but how do you go about choosing the one you’ll want to employ? Interviews are incredibly important however they can be very daunting if you have had little or no experience.

The Shortlist
The first thing to do is produce a shortlist of candidates. With any luck, there should be a good handful of applicants who’s CVs look good and you would like to invite to interview. At this stage, it is also worth reading the cover letters as well as the CVs so that you can pick the top candidates – remember that it is sometimes better to go for someone with passion and drive who can learn quickly, than someone who has all the right qualifications but won’t be able to pick up your business processes easily.  Read more... (746 words, estimated 2:59 mins reading time)