In a 2015 financial report that was compiled by Oxford Economics for HSBC, it was revealed that the United States has the largest number of middle market businesses at 55,700. Those middle market businesses contribute $1.7 trillion to the U.S. economy, which is 13 percent of the United States output. The report considers middle market businesses to be businesses that generate at least $50 million in revenue each year, but no more than $500 million.

One of the figures that was interesting to note in the report was that American middle market businesses are responsible for 16.5 million jobs, which makes up 13 percent of all U.S. employment. By way of comparison, the Chinese economy has the second largest amount of middle market businesses at 40,200, but those businesses employ 74 million people, which makes up nearly 12 percent of all Chinese employment. When it comes to the number of people employed by middle market companies, China stands out as the country with the most middle market employees.

A breakdown of the numbers shows that the retail and wholesale industries in the United States offer the largest segment of employment for middle markets, closely followed by the manufacturing and services industries. But the retail, wholesale, and manufacturing industries combined do not offer as much economic input into the U.S. economy as the business services sector. Of the $1.7 trillion contributed to the U.S. economy by middle market companies in the U.S., $1.1 trillion is generated by the business services sector. This includes financial sales, banking, and financial services companies. Read more »

Online retailing is rapidly expanding. Major online retailers like Amazon and eBay are achieving high sales, bringing more and more retailers online. According to The Centre for Retail Research, in 2014, online retail sales in the UK increased by 15.8 percent, whereas the estimate for 2015 is a 16 percent increase. British consumers spend on average GBP59 for online shopping, mostly on tablets (82 percent).

Here is some online retail advice.

Tips for online retailers

a) The basics
An online business does not have a physical address. You should not neglect to list some basic information like your phone number and/or an email address. Customers should feel that they can contact you anytime with questions about your products or services.

Write straightforward, accurate and easy to understand product and/or service descriptions, including prices and any extra fees. Over-complicated descriptions will confuse your customers, who, most likely will prefer another online retailer.

Include nice, colorful pictures of your products so that customers can actually see what they are buying. Don’t forget that your business is not brick-and-mortar, so customers trust your product descriptions, but they also need a visual communication of what they are shopping for.

Create a user–friendly website where visitors can navigate with easiness. Check out eBay or Amazon to see what makes them so easy to function. Don’t forget that your website is, in fact, your shop window, the entrance to your business. Make it attractive, but, above all, efficient. Read more »

Managing a small or medium sized enterprise (SME) in the UK can sometimes feel financially restrictive. While many may struggle to access private funds, there are government backed schemes available. Although some are available throughout the UK, others are restricted to England, Wales, Scotland, and Northern Ireland respectively.

Starting a new business
The government offers advice for those who are starting a new business. This includes researching the market and developing a business plan, both of which are essential when seeking funding from private or public schemes. After this, new entrepreneurs need to find partners and suppliers, then register the business, before looking for funding.

Business funding schemes available throughout the UK
There are several lending programs supported by the government throughout the UK.

Enterprise Financial Guarantee Scheme
Under the Enterprise Financial Guarantee scheme, the government backs up to 75 percent of the business’ loan, and a private lender covers the remaining 25 percent. It is available to businesses with an annual turnover under £25 million, and they can borrow between £1000 and £1 million over a 10-year period.

There are some restrictions businesses should be aware of. The coal industry is not covered, and some areas of agriculture, forestry, finance, and transport are excluded.

Enterprise capital funds
Rapidly growing SMEs can access a £1 million investment over a 10-year period, which is partially backed by the government. There are no restrictions, but most of the successful applications have been granted to high-tech businesses. This scheme transferred to the British Business Bank in 2014.

Funds for England only

Local Enterprise Partnerships

Local Enterprise Partnerships are largely available in areas where local employment is dependent on the public sector. For example, the North East. Businesses that can meet employment deficits in a local area may be able to access grants under the partnership scheme. Read more »

Each new year means another new set of tax rules for businesses across the country. There are some major business tax changes for 2015 and then there are also some smaller ones that are still very important to note and implement.

Even if you have a tax accountant take care of your business taxes, it is important to know the business tax law changes so you can alter the way you collect information throughout the year. The more you know about the pending changes, the more you can help your tax accountant to maximize your deductions and save you money on your taxes.

Affordable Care Act

If your small business is below the 50-employee threshold for the tax implications of the Affordable Care Act, then your concerns in 2015 are no different than they were in 2014. But if you do have 50 employees or more, then the ACA could affect your taxes at the end of the year.

One of the changes that 2015 brings with the ACA is an increase in tax penalty for people who do not have coverage. Along with stiffer fines comes the requirement that employers offer adequate insurance for a reasonable price. A professional tax expert can explain to you exactly what constitutes adequate insurance and reasonable prices.

If you are planning an expansion in 2015 that will force you to hire more employees, then the ACA could become an issue for you in 2016. With the ACA, it is always best to plan at least one year in advance to avoid tax problems. Read more »

Establishing a strong web presence through a successful online business can be a really profitable venture. The following techniques will help you get your business noticed online and stand out from your competitors.

Choose an accurate domain name
Many businesses fail to establish a strong online presence because their owners choose irrelevant domain names. The domain name of your online business should contain your key product. For instance, if you sell glasses, you should include the keyword “glasses” in your domain name. Unless you have an already established and reputable online business, customers will find you by typing in the search engine the keyword of the product they are looking for. So, make sure to select an accurate domain name in order to target the right audience and convey the right marketing message.

Optimize your website
Search Engine Optimization (SEO) is a crucial success factor for your online business. By optimizing your website, your online business earns a higher ranking in the search engine results pages (SERPS). Effective optimization means that when a user enters a keyword in a search engine like Google or Yahoo, your website will appear in the first pages of results. For example, if you sell women’s clothes, use keywords such as “women’s apparel”, “women’s fashion” and so on. Generic keywords like “jeans”, “underwear”, “skirts” etc. won’t bring traffic to your online business. By making your website “search-engine friendly” you can attract prospects and turn them into regular customers. In fact, Google uses “spiders”, a software that crawls the web frequently and finds sites to index. Read more »

Online sales are booming across the UK, and everything suggests that this trend is here to stay. The United Kingdom tops the list of European countries in terms of online sales, as during 2014 alone online transactions generated revenues for the value of nearly £45 billion. In only six years, the volume of online sales in the UK has tripled, especially since more and more consumers are using their mobile devices (like tablets and smartphones) to make purchases online.

Online retail sales (also known as e-tailing) offer consumers the convenience of purchasing their favourite goods from the comfort of their homes. This new way of conducting commercial transactions also benefits business owners, who can now easily reach a wider consumer base and multiply their income exponentially. Whether you are a consumer who shops online or the owner of an online business, it is important that you are aware of the new consumer regulations that apply to online commercial transactions since June 2014. Read through our summary below to familiarise yourself with your rights and responsibilities.

What type of transactions are included?
The new consumer regulations apply to online transactions used to purchase both goods and services. This includes the purchase of digital content (music, movies, software, etc.) but excludes things like the purchase of foodstuffs, gambling transactions, and transactions that involve residential accommodation.

What information are retailers obliged to provide?
Retailers must make the customer aware of the following information before any contract is signed and before orders are placed: the characteristics of the goods on offer; the final price including any relevant taxes; clear delivery information; the seller’s name and contact details; and the duration of the contract where applicable.

How do the changes affect the ‘cooling off’ period?
Previously, consumers had a seven-day ‘cooling off’ period that allowed them to cancel a contract or purchase without needing to have any specific reason. Under the new consumer regulations, this period has been extended to 14 days. The 14-day period also applies to other parts of the transaction, such as returns and refunds, which must be processed within 14 days of receiving the returned goods.

What about delivery terms?
Under the amended consumer regulations, online retailers must deliver goods or services without delay and within a maximum of 30 calendar days from the date in which the order was placed.

The following infographic, courtesy of Waterfront Solicitors, provides a detailed visual overview of the regulatory changes that every e-tailer in the UK should be aware of.

Good marketing can be the difference between the success and failure of a company. The need for good marketing information can be satisfied at one of the many marketing conferences taking place across the United States in 2015.

Summit Digital Marketing Conference
Location: Salt Lake City, UT
Dates: March 9 through 13, 2015

Digital marketing has become more prominent in recent years and the Summit has become the place where digital marketing experts make themselves available to business owners. For many years now, the Summit has been regarded as the one mandatory digital marketing conference that every business owner and marketing expert should attend.

Past Keynote Speakers Have Included:

• Robert Redford – Actor
• Yancey Strickler – Kickstarter
• Brad Brown – REI

Social Media Marketing World
Location: San Diego, CA
Dates: March 25 through 27, 2015

Social media has evolved over the years and plays a significant role in corporate marketing. At the Social Media Marketing World conference, marketing experts discuss new methods for using social media in expanding a company’s influence and customer base.

Past Keynote Speakers Have Included:

• Chris Brogan – Human Business Works
• Michael Hyatt – Author
• Jay Baer – Author

Content Marketing World
Location: Cleveland, OH
Dates: September 8 through 11, 2015

Internet content marketing is constantly changing and the annual Content Marketing World conference helps website owners and developers to keep up to date on the latest developments. Whether it is a debate about the value of good content or a discussion about Google’s latest changes, you will find it at this conference. Read more »

Get the New Year off to a great start by organising your key UK tax dates in your diary for 2015.

January 2015
Deadline for online submission of Self Assessment tax returns for tax year ended 5 April 2014.
Deadline for paying Self Assessment ‘balancing payments’ for tax year ended 5 April 2014.
Deadline for first Self Assessment payment on account for tax year ended 2015.

February 2015
No deadlines for NICs (National Insurance Contributions), PAYE (Pay as You Earn), or Self Assessment returns.

March 2015
As above – no deadlines.

April 2015 – July 2015 - for businesses with employees and a payroll.
If you are a business employer running payroll, you need to:
Report to HM Revenue and Customs (HMRC) on the previous tax year (which ends on 5 April) and give your employees a P60.
Prepare for the new tax year, which starts on 6 April.
Send your final payroll report of the year – by 5 April Read more »

The following is a calendar of key annual dates and federal deadlines for companies and corporations operating in the United States, including annual filing of company records and tax returns, company vehicles, employee benefits, pensions and trusts.

While economic growth for the UK in 2015 still looks good, analysts suspect it may be lower than expected. With contributing factors ranging from political uncertainty to events abroad, whether or not the UK will meet the latest predictions still remains questionable.

The General Election and Economic Forecasts

While the coalition government’s fiscal plans are still underway, uncertainty surrounding the next general election has seen the original forecast of 3.1% drop to 2.7%. As the business world remains unsure as to whether it’ll face further Conservative policies, or changes from a new Labour government, corporate confidence is dented.

The majority of this growth is set to take place during Q4, at 1.25%. Two-thousand-and-fifteen will see a good start, with 0.25% growth, followed by further modest increases in subsequent quarters.

Despite there being concerns over the way the political climate will affect current economic plans, it is expected that public sector borrowing will continue to decline. There may be concerns that projected plans are too ambitious, but a decline will occur nonetheless.

Although job growth is anticipated to continue during 2015, uncertainty surrounding wage growth is further affecting economic progress. Wages are expected to normalise in the middle of the year, leading to higher spending within the country. However, as the yen and euro may experience a 6.5% decline, the cost of the pound may increase by around 5%. This means UK exports become less competitive, which could in turn buffer the progress made through domestic spending. Read more »