The Start-Up Loans Company, part of the government’s solution to help kick-start enterprise in England and create more jobs for 18-30 year olds, is being championed by tech whizz kid and serial entrepreneur Josh Buckley (@joshbuckley), CEO of gaming giant MinoMonsters. Although born and raised in Kent, in 2010 Josh moved to Silicon Valley to start up MinoMonsters, aged just 18.
Now a web veteran at the tender age of just 21, Josh already has a decade’s wealth of experience behind him, and now he is looking to help other young people like him realise their potential by becoming their own boss.
Josh started freelance coding at the age of 11 after his family bought a computer. He sold his company first company, Menewsha, a virtual world, for a six-figure sum at the age of 15. Josh then went on to create the global kids phenomenon MinoMonsters in 2011. This gaming venture has been called “the next Disney” by many commentators. Buckley raised $2m for the company at the age of 19 from leading venture capital firms.
Leading entrepreneur, former Dragon and Start-Up Loans Company chairman James Caan is hugely impressed by Josh’s business journey and believes it will inspire other young would-be entrepreneurs across many sectors. And with more than £100m to give to young people across England, such aspirations can find the financial backing it needs.
Caan believes that Josh’s story shows that business success is achievable for people of all ages, providing you have a good idea and the passion to make it work. He is delighted to have Josh’s support to help inspire young entrepreneurs in England.
The Start-Up Loans Company has already backed numerous tech enterprises, including a wide range of app developers. Now is a fantastic time to turn your passion into a business. With the help of Josh Buckley and James Caan, The Start-Up Loans Company is in an even stronger position to help young aspiring entrepreneurs to achieve their dreams. Apply today at www.startuploans.co.uk.
Small and medium-sized enterprise owners (SMEs) are proficient at using technology, but unable to switch off in their personal lives, according to research from business insurer Hiscox.
The research was conducted between 28 November and 6 December 2012 and surveyed 1,030 businesses. It suggests that 89% of SMEs have mastered the use of technology, but are slaves to smartphones. The research also suggests that 38% of SME owners have difficulty switching off and 37% find working off duty hours intrusive upon their personal lives.
The online survey by Opinium reviewed how businesses are using technology and how although they are using it better to manage their businesses; they are not able to control the impact that it has on their personal lives. 85% of respondents admitted to checking their work emails while on holiday.
"Our research confirms what we already know from working closely with them; SMEs are constantly connected to their workplace, incredibly tech savvy and committed to their business," explains Alan Thomas, small business insurance expert at Hiscox.
Interestingly, 59% of survey respondents plan to either purchase new equipment or upgrade existing equipment as an investment in technology in the near future (61% keep up-to-update with technology). From these technology investors, 35% plan to do so in the next 12 months compared with 25 percent who plan to do so in the next two-three years. 10% of SMEs were found to relish new technology and generally upgrade equipment as soon as it becomes available.
"As SMEs seek to keep their business running at all times, the option to clock off at 5pm is fast diminishing and being 'switched on' is becoming a normal way of life. Thanks to the reliance on and access to technology, SMEs have become masters of technology but slaves to their work, and it's no surprise they are leading a lifestyle where they are 'always on'," added Thomas.
Given that SMEs are closer and influence the day-to-day management of their businesses on a more intimate level, it’s no surprise these factors have such an impact for them. This can be compounded when SMEs are home workers when it is thought that temptation to be distracted often turns out to be the opposite.
According to research carried out by names.co.uk, more than a quarter (28%) of new small-business owners wait months after they’ve registered their company name before they register their domain name, thereby risking losing out on their preferred website address.
In fact, our research suggests that about a fifth actually lose their preferred name and have to settle for a name that isn’t related to their company.
We surveyed 2,079 business owners and found that many were startlingly relaxed about owning their online brand – but come to regret this later on when they miss out on their preferred domain name.
Even many dot-com savvy firms established in the past three years have missed the boat. Most companies make the mistake of focusing exclusively on their company name, believing it to be central to the success of their business, without even thinking to check for their domain name first.
Your domain name is often more important these days than your mobile or telephone number, so it is a big oversight not to check whether it’s available before registering your company name. Customers will search for your .com or .co.uk address every day, so not owning the most logical domain can be a real issue.
However, not all businesses are as forgetful about registering their company name. More than a third (35%) admit to registering their domain name before they launched their business, with 25% building their website before launching their business. About half (49%) also admit to registering multiple domain names to protect their company name or expand their business.
Other key findings from our research include:
Names are important, of course, and every one with plans to start a new business really needs to think carefully about their domain name. We encourage small businesses to consider registering their domain name before they launch their company, so they can get the name that best serves their business’s interests.
Sally Tomkotowicz is marketing manager at Namesco, which provides online services for businesses and individuals.
Investment is a common term for most start-ups, usually in the context of technology, buildings or staff training, but what about philanthropic investment? And in particular, should a start-up look to give to the local community when finances are usually so tight?
We’re in the midst of a recession and that doesn’t just affect commerce, but also local activities and groups. Any assistance you can give to your local community will surely be appreciated and remembered, for example, sponsoring local events or sporting teams. It need not be financial; products, time and manpower are just as valuable a commodity for some projects.
To my mind, if you can afford even a small input, there is no reason not to invest – a humanitarian deed for the day is a great way to live. But as with any investment, there must be a return – mustn’t there?
A truly philanthropic investment would yield no direct financial return for your business, but with my most cynical of capitalist hats on, why be in business if not to make money? Yes, do things for the community, but away from work, with your own time and your own money. After all, without profitable businesses, there is no economy, no livelihoods and no thriving communities in the first place.
But there are less tangible returns that you might gain, for instance, on the public relations front. Everyone loves a ‘feel good’ story and if you have the opportunity to make a difference in your local community and can publish it correctly, this charitable activity can do wonders for your reputation.
Take Christmas, for example. If you normally send cards to customers and suppliers, think again. Instead, perhaps you could email everyone and explain that you are donating £xxx to a local cause. Everybody wins, including the environment.
Breaking News: “Lovely generous business gives money to [insert charitable cause]” . Who doesn’t read it and replace the “Lovely generous business” thought with “looking for some public good will” judgement. We all do. And does this feeling really disappear when it is a start-up or small business? Has today’s hurly-burly environment removed our ability to see a selfless act and not be suspicious?
Personally, I think all businesses should make an effort to give something back to the community, whether you are resident there or if your business is simply based there. My employer invests an awful lot in the local Alveley community in Shropshire, with barely any of the investments receiving mention outside the parish. But it’s worthwhile because we see the appreciative faces, receive the handshakes and know our small contribution enabled an event to get off the ground and realise someone’s dream.
Yes, businesses exist to make money, but there is no need for that money to sit in a bank when it could be put to good use.
1. Remanufactured cartridges void your warranty
Often seen as the greatest barrier to effective third-party cartridge distribution, most people wrongly believe this to be true. Pressure from EU and American trade laws mean it is illegal for a manufacturer to void your printer warranty purely due to the use of third-party cartridges. Look in chapter 50, section 2302 of the Magnuson-Moss Warranty Improvement Act for further details.
2. Remanufacturers only replace the toner
Prevalent in the “drill and fill” region of the market, this leads to poor performing cartridges due to the strain experienced from repeated use. Professional third-party providers replace all worn and damaged components in the remanufacturing process. They are then cleaned and tested to standards approaching the original equipment manufacturer’s (OEM’s) stringent guidelines to ensure the quality performance you would expect.
3. Remanufacturers reuse toner in their cartridges
Ignoring the fact OEM cartridges all have different chemical formulations and are thus unable to be mixed, as soon as toner leaves the cartridge and is applied to the page it cannot be reused. Laser printers undertake a complicated series of positive and negative electrical charges to transfer the toner from a cartridge, to a printer drum, to the paper. The moment the toner is ‘polluted’ by particles from the environment such as paper dust, it cannot be reused.
4. Remanufacturers contain lower quality toner
Nearly all OEMs now use chemical toner technology, which provides finer particles in a consistent shape for more accurate printing. Remanufacturers also use this technology, meaning your third-party toner particles are of a similar quality. However, it is true OEM toner can contain more chemicals than remanufactured counterparts, as they are scientifically ‘constructed’ from the ground up for performance in specific printer models. Just remember you will only see their benefits when printing high-resolution images and text onto the original manufacturers paper; often up to double the price of remanufactured options.
5. Remanufactured cartridges can damage your printer
The process laser printers go through to print means the cartridge rarely makes contact with any part of the printer, the only issue is leaking toner. All cartridges lose some toner inside the printer, hence the existence of waste toner collectors within most laser printers. There is still the risk of excess waste through poorly manufactured cartridges, so ensure your supplier is quality tested with a performance guarantee.
6. Returned cartridges to OEMs are all reused
A mere 20% of toner cartridges are reused in the entire market, with OEMs falling behind on this statistic. This is compounded by an InfoTrends study into cartridge remanufacturing, which highlights third-party suppliers collecting 70% more empty OEM toners than the OEM themselves. Furthermore, research highlighted OEMs’ preference to recycle the returned cartridge and use only part of the materials for new cartridges, whilst third-party producers will almost always re-use cartridges once (after inspection and cleaning), saving energy and overall waste levels.
So the bottom line is that you can seriously consider buying third party cartridges in future and save yourself a bob or three.
Matt Bird of printer cartridge supplier, StinkyInk
I’m pleased to report that the wraps are off: The IT Donut, a new website for small businesses, will be launching the week of 23 August.
Expect heaps of advice about choosing, using and generally not getting totally frustrated with IT in your business.
I’ve taken on the role of editor (the next few months are looking to be very busy), but thankfully there’s a whole team of great people from BHP Information Solutions working hard on the site too. And because you can’t substitute for first-hand knowledge and experience, we’re on the hunt for experts who know all about IT at the sharp end of business.
You see, when businesses use IT, there’s an ideal world, and there’s what actually happens. The two often differ quite considerably.
The IT Donut isn’t going to live in the plain sailing, smooth running and largely theoretical ideal world. It will acknowledge the situations and challenges businesses face every day with their IT.
Although the team behind the website is packed with experience (I’ve been writing about small businesses and IT for years now), we need people who’ve been there and done it to help us cover every area. These IT experts are the people who’ll really bring the site to life.
So if you know a bit about IT in business, I want to hear from you. You might be an expert in web hosting, networking or accounting software. Or you might be a business that’s experimented with cloud computing, open source software – or gained some other knowledge that you’d like to share.
Whatever your expertise, give me a shout. It’s your chance to be involved in one of the most exciting projects I’ve ever worked on – and to get some great PR while you’re at it.