Toormix
This is a design company based in Barcelona. I LOVE their work!

Inventory Studio
 They are based in London. I really like their style of work and also the layout of the website they have created.

Adobe Software for our business

You do get a slight discount for being a business and it is also VAT free.
This is also the full package for Adobe CS5

HSBC Business Banking

After looking more in depth at HSBC I have found out this:

You get 10% off your insurance once you have opened a bank account with them, this includes:

Coverage of the premises
Coverage of Equipment up to £10,000
Public Liability
Personal Accident Cover
Professional Indemnity up to £1m

Also with HSBC we would get 18 months free business banking.

Group discussion: We all met up again to tell each other what we had found out and what we thought best for us as a business. Once we had exchanged our findings, we then went onto make a list of things we thought that we would need to start up our business ready to function properly:

I can imagine this will be compromised once we have actually worked out all the costings for everything! However we have split the research into different sections for each person to look into. Ready for our next weekly meeting.

I am looking into costings of:

photography equipment -
lighting
backdrop
camera
batteries
software
filing cabinets
software for the Macs
bins

Premises
Roz found us two places within the London area.

First Option:  was the cheaper option out of the two. It is really flexible as you cant edit how long you actually want to stay for without having a fixed long term contract. You pay per desk per week, 24 hour access, car parking, meeting rooms. It also has its own on site manager which means less hassle with looking after the building itself,  and it also has a kitchen.

Business Rate Tax:

A table to work out costs for our company in total.

Second option: This option is slightly more expensive as it is in the centre of London (which is good for business) although it is above a pizza express! It is a very attractive building of which you could invite clients to.  

I think a perfect location to be very close to a train station also allows for easy access to and from the office!

Ten top tips for a successful start

1. Write a business plan.Preparing and presenting an effective business plan can make all the difference between success and failure. Besides being a great way of capturing the long-term objectives and financial goals for your business, your business plan can be used to demonstrate to prospective lenders, investors and customers that you have thought through your ideas and that they are dealing with a business which has good potential. It also gives you a benchmark to monitor your progress, so if something starts to go off track you can take prompt action to put it right.

2. Learn all you can about your chosen industry.
If you have never worked in your business sector before, get some work experience. Make sure you know the laws you need to comply with and talk to HM Revenue & Customs about tax issues before you start. Contact your trade or professional association to see if they can help. Make sure you understand Intellectual Property Law and guard your copyright from the start.

3. Understand everything you can about your customers.Before you get started, it pays to talk to the people you’ll be looking to sell to. Get some feedback on your product or service before you begin. It can save a lot of development time in the future.

4. Listen to advice.
Talk to people who’ll be honest about your business idea and listen to what they say. Get a mentor from your specialist field if possible.

5. Dip your toe in the water first.It’s possible to run many businesses on a part-time basis from home. An effective way to see if your business idea is viable is to stay in full-time employment, while managing your business in the evenings and at weekends. This will allow you to check if your idea is viable before taking the big step of losing your regular income. Even if you are just ‘trying out' your business, open a business account as soon as possible – it will help in the long run to keep both your personal and business accounts separate.

6. Keep money in reserve and keep costs down at the outset.Keep expenditure down as much as possible when starting up. Don’t plough every penny you have into the business unless you have absolutely no choice. No matter how well you plan, most people find they need a bit more money for something after a few months.

7. Make use of free publicity and networking.
It’s easy to waste money on ineffective marketing, so think hard about anything you spend. And learn to network - talk to as many people as you can about your business. You never know where those conversations might lead.

8. Set up books and records as soon as possible.
It can cost a lot of money to have an accountant sort out messy records further down the line, so get bookkeeping systems set up properly before you start trading. Make sure you keep all business receipts – even from before you start trading if they relate to your business – you might be able to use them to offset tax. Find an accounting software package to get you started

9. Prepare your support network.
Starting a business is hard work. You’re going to need to devote a lot of time to it for at least the first year and probably well beyond that. Make sure those closest to you understand the size of the task and the sacrifices you’ll need to make to ensure your business is a success.

10. Be resilient, adapt and change.There will be times in the first few months when things don’t go your way. Maybe you will lose an important order, or an employee will let you down. Whatever that may be, learn from it and keep going. Be prepared to adapt. 

Business Insurance Advice

Business links offer some advice on what you would need in your insurance policy and you go through the stages of what you would need to cover.. Of which we will have to work out all together once we know where we will be, what we will exactly be doing, equipment, and if the public come into the studio.

Touch

This is a graphic design company based in Edinburgh, I really like their work within print.

Touch
No 4 Stafford Street
Edinburgh EH3 7AU
0131 220 4545 martin@thetouchagency.co.uk

Un.titled

Thanks to John I was introduced to Un.titlied a design studio in Leicester. I would really like the opportunity to look around here, as the combine graphics with photography in house! Instead of bringing a photographer in from a different company, I would like to see how this works.

Business Insurance Tips

• Before speaking with an insurance representative, write down a clear statement of your expectations.

• Do not withhold any important information from your insurance representative about your business and its exposure to loss. Treat the individual as a professional helper.

• Get at least three competitive bids using brokers, direct agents and independent agents. Note the interest that the representative takes in loss prevention and suggestions for specialty coverage.

• Avoid duplication and overlap in policies; you will be paying for insurance you do not need.

• Ask your insurance firm if it's an "admitted insurance company." If so, it should have a solvency fund should a catastrophe put the insurance company in danger of going under. An unadmitted carrier has no such solvency fund.

• The small businessperson should not consider any form of self-insurance. The pool of funds necessary to safely insure losses is extraordinarily large.

• Get your insurance coverage reassessed on an annual basis. As your firm grows, so do your needs and potential liabilities. Underinsurance ranks as a major problem with expanding firms. Get an independent appraiser to value your property; if it has been more than five years since it was last appraised, chance are you're in for a surprise.

• Keep complete records of your insurance policies, premiums paid, itemized losses and loss recoveries. This information will help you get better coverage at lower costs in the future.

Insurance Losses

• Virtually all policies require notification of an accident within 24, 48 or 72 hours of the incident. The claim itself does not necessarily have to filed at this time. Failure to report the loss may nullify your right to recovery.

• There must be come proof of loss, though you will have a reasonable period to provide documentation if needed.

• The insurer usually has three options when it comes to fulfilling the terms of a replacement policy: paying cash, repairing the insured item, or replacing the insured item with one of similar quality. Don't hesitate to let the insurer know if you prefer one of these reimbursement methods.

• Disputes regarding the amount of the settlement are put to arbitration. Thus an independent appraiser acts as judge in the conflict Don't hesitate to use this system of resolving differences. If a compromise cannot be found, a lawsuit can be initiated.

Setting up a business account

Lloyds TSB

Lloyds TSB seemed ok for a business account yet didn't like Natwest have specific individual plans for a wide range of different businesses such as HSBC or Barclays. However in their little extras they did include a Sage Planning for Business Software of which would help your business finances a lot from organising your money.

Setting up a business account

Natwest

From looking at several different banks in my opinion Natwest did not seem very driven within the business accounts as some of the others. It didn't have the same focus as maybe HSBC or Barclays into specifics.

However it did seem very helpful in that it gave you a lot of information about actually setting up your business and what kind of help you could get. 

How to use the lectures for interviews: 

Remember the basic outline is they are looking to make more money from employing you
Put yourself in their shoes:
What are they looking for
What does their business need?
How would you fit in and benefit their business?
What is your USP?
Find out who their competitors are and what they have a strength over the company in
Do a SW analysis and find the opportunities
Read 3 big newspapers before you go
Research! and ask intelligent questions

ARTSMIX
Supporting emerging artists
Networking events

Enterprise Lecture
How not to fail
14.03.11

Top 5 reasons businesses fail:

Failure to adapt to a changing market: 
-keep up
-be informed
-understand changes in competitors
-understand your macro and micro environments
-PEST & SWOT analysis

NESTA
- can look at the creative economy
- can look at where your competition is

DESIGN WEEK MAGAZINE
- jobs
-exhibitions

Failure to continuously market yourself: 

Intergrity

Creative

Cultural awareness

Proffessional Skills

Organisation

Be Yourself!

Inadequate accounting records & disregarding or misinterpreting financial records

Business Plan: 

1. Describe you product or service

Features & Benefits - who is it benefitting & how

Target Customer

Skills & Capabilities

Legal Status

2. What resources will you need?

3.Why will people buy from you?

Look at competitors/other examples & what is already going on

What are their strengths and weaknesses?

4. Do a marketing plan.

Three methods

Explain why the will be effective.

5. How much will it cost? 

Start up

Overheads

Direct Costs (materials etc)

When looking through business bank account i thought i would go onto a comparison site however when i actually looked into it i realised that not many of the high street banks buy into comparison sites, as it did surprise me on this site to find that Santander was top! 

Setting up a business account.


HSBC

HSBC seemed to have a wider range of business banking than barclays, seemed to be more specific and targeted at different types of businesses.

Along with a business debit card there was also an offer of a business credit card. However i prefer not to have a credit card as I am pretty careful with money and would therefore plan what was coming in and what it also needed to be spent on, along with covering hardship through tough periods. 

Along side the business account HSBC offered insurance of which would be discounted with them when opening a business account, of which there are also many different types:

There are also different ways of checking on your business account, even on an iphone these days.

Also when the page is opened for setting up a business account the have a small quiz/test on the front page to see how viable they think your business idea is and they can then specify which offers would be the best for your business.. Which i think is a really good idea! 

Setting up a business account.


Barclays

Your barclays account can be opened online and also through booking an appointment to see a member of staff

Here are their opinion on why they are the better bank to go with for your business: 

And below are the long list of terms and conditions.. 

1

2

They also have the options for a business plan, cash flow records and times in which your cash flow goes up and down so to forecast hardship and prepare for it. 

Which is pretty good! 

Enterprise
Setting up business


Group: Maya, Ellis, Roz and I


Who are we.. 
Maya - Editorial & Packaging
Ellis- High end/ Luxury / Fashion
Roz - Ethics
Me - Type / Photography


What are we together? 
High end, sustainable print design for retail.


To start up we firstly need to research: 
target market, competitors, over heads, insurance, promotion, accountants & solicitors, terms and conditions - mock invoices, statments, registeres, funding, business links, branding, name, identity, SWOT & test analysis, direct & indirect costs, equipment, location, tax, limited company/partnership, our USP.

Lecture 8
Stash your cash

Invoice
Statement

Essentials of an invoice:
- your business address
- their address
- date of invoice
- item by item list
- total amount due

Statement - both have a copy perforated down the centre containing the information

Essentials of a statement are the same as an invoice however an additional list of all the recent invoices you have sent to them.

Terms and Conditions:
-designed to protect your rights & interest
- costs
- delivery arrangements
- payment terms
- credit limits
- rights to charge interest
- a commitment to quality
- data protection
- liability
- damage
- inclusion of VAT
- warranty

The statement
- sent out the day or day before the due date
- sent out every month thereafter until response
- how much is owed
- outstanding debts

Accounting
-keep track of who owes you
- see how much is coming in and spending

Bank Tree - £26
Sage Accounting - £151
Quickbooks - £113
Turbo Cash - free download

What businesses spend money on:
Starting up:
-new equipment
-website
-registered company
-logo
-decorate premises
-launch party?

Where would you get money from?
Banks
Arts Council
Yorkshire Forward
Share Holders
Prizes and Awards

What do the banks need to know?
marketing plan
how much you will need
how much you are putting in
how much you will spend
how much will you pay back

Indirect Costs: things that cost you on a daily running of a job
-gas, water, electricity
- office supplies
- equipment leases
- part time help
- insurance and rent
- phone bill
- marketing

Also known as: Overheads, Fixed costs.

Direct costs: things that help to the manufacturing of a product
- print costs
- materials
- packaging

Tangible Assets - something physical
- car
- camera
- printer

Intangible Assets - virtual things you can not touch
- trade secrets
- secret recipes

Cost: your money going out
Price: the money you charge customers

Taxes:

Income tax
Corporation Tax
VAT
Business rates

First things to do starting up:
Open bank account
Find certified accountant
Local solicitor
Register your business with inland revenue.

Lecture 7 
Don't get ripped off - Copyright matters

Intellectual property refers to the creations of your mind - inventions

Patents - max 20 years long
Trade Mark - lasts forever, renew every 10 years

Tm - pending at patent office
R - registered mark

Heinz registered the logo, type, shape of packaging, and colour so no one else can make it look similar to theirs

Registered designs - up to 25 years
- refers to the different designs of a product, such as a bottle.

Copyright - lasts 70 years after your death
- art, music, animation, film, games
- automatic
-date and record your work

If copyright is given to a charitable organisation it is now theirs forever.

www.ipo.gov.uk
DACs
Association of illustrator

Facebook Youtube & Blogger all make you sign over giving them free copyright of your work once you sign up to them.

Lecture 6
Why start a business?