 Pokemon Go could it be important to your business? Of course you have seen people walking around looking at their phones more than their surroundings lately, but did you realise that the majority maybe playing Pokémon Go instead of poking someone on Facebook or Tweeting on Twitter?
The game played on smart phones involves people walking around catching ‘pocket’ monsters, training these monsters and fighting other monsters. In an ongoing virtual world where your smart phone uses your video camera and actual surroundings to make it cute creatures appear on screen as if they are actually right there in front of you. Suffice to say the global craze of Pokemon Go is leaving behind social media and hitting new highs in online gaming. It is setting itself to become the next big thing. And some non IT related businesses are cashing in on this to help grow their sales too. So could this also be an opportunity for your business too? Should you be a 'Stop' or 'Gym'? Your local coffee shop, bowling arena or fast food restaurant can buy into the game in terms of setting up their premises as a 'stop' a place where you can find Pokémon, or create a 'gym' where players can come to develop more abilities in the game. Some experts have said a lot of players, don't care what the business does, and just want to 'level up' and move on. But fast food giant McDonald’s disagrees, since they plan to become an official sponsor of the game in Japan. With plans to turn all 3,000 restaurant locations, into virtual "gyms" attracting hungry players. So displaying themed posters and attractive ‘lures’ should help to increase the foot fall for businesses. And if your thinking this in not directly applicable to my business. You could be wrong, have you considered that your employees and clients may already be engrossed in the game. And as an employer or service provider maybe you should factor for this? Maybe Heidi in sales was out till 4am last night looking for new Pokémon, Phil was playing the game with his grandchildren over the weekend or Jack in accounts is so good that he has become a master and is now helping train others too. These skills maybe transferable to your work environment as members of staff find fun ways to work hard in a competitive environment and achieve difficult targets. Embracing new technologies and trends and translating them to his/her business is what a clever entrepreneur does. By Anni Khan at Tax Affinity Accountants Tax Affinity Accountants are experts in Tax and Accountancy. Based in Worcester Park and Kingston upon Thames they are considered in the Industry to be expert accountants and advisors for small businesses. Helping and supporting business throughout the UK, they regularly help new and established businesses to succeed. For more information visit www.taxaffinity.com. To read more interesting articles like this visit www.taxaffinity.com/blog. Please feel free to comment and share this with your friends.
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 A lot of wise entrepreneurs are making a lot of money in the fallout as the UK economy bounces around with the triple hit of Brexit, PM resignation and new appointment and the now predictable event of England being kicked out of the Euro 2016 football championships.
They know that there is money to be made where there is fear and speculation. Some are buying cheap UK Sterling others are snapping up cheap stocks and shares while others are haggling hard on basic business deals on such as renewing a lease for a property or machinery. Facing fears and thinking positive in times of an economic downturn is what a true entrepreneur does. Many success stories are about people who made their most money during recessions and economic slumps. Just read about billionaire businessmen and women such Warren Buffet. So when the chairman of JCB Lord Bamford recently said we have "little to fear from leaving the EU" and the business community "needed to look to the future", he was not wrong. He went on to explain "European markets are important to many UK businesses, including JCB, and this will not change," but also said "We should look ahead to opportunities to trade more freely with the rest of the world, as well as building on existing trading relationships with customers and suppliers in Europe." So he was basically saying, we have to remember is that the UK is the world's fifth largest trading nation in the world, and being positive and looking for the opportunites to do even better should be the priority not giving in to the nay sayers and fear mongers. With this in mind, some economists have predicted that the UK could be heading towards a recession, while others have predicted stronger growth once things settle down. "We can look forward to faster rates of economic growth as we embrace the world economy," John Hearn, an economist at the London Institute of Banking and Finance stated recently. But why the huge contrast? Well let's not forget that these people are paid employees and don't really understand what it means to be self-employed and how an entrepreneur's take home pay is directly effected by the sales they did that week. So its all well and good to reassure the doubtful but would a true entrepreneur even be paying any attention or be busy working hard? Sorry who said what? - Lets all work hard today to make more profit and be successful tomorrow, and the economy will take care of its self. Its core foundation is after all individual businesses not employed workers or politicians they are just the purchaser at the end of the chain. Top Tip: The fall in the exchange rates is benefiting UK exporters by lowering their prices and helping domestic retailers products look more attractive to the buyers from other countries, so look for opportunities to export your products and expand your market place overseas while it lasts. By Anni Khan at Tax Affinity Accountants Tax Affinity Accountants are experts in Tax and Accountancy. Based in Worcester Park and Kingston upon Thames they are considered in the Industry to be expert accountants and advisors for small businesses. Helping and supporting business throughout the UK, they regularly help new and established businesses to succeed. For more information visit www.taxaffinity.com. To read more interesting articles like this visit www.taxaffinity.com/blog. Please feel free to comment and share this with your friends.  How to increase business profits in a slowing economy.
We often get asked ‘How do I still make more money if my sales go down?’ Using our extensive experience and broad industry knowledge our typical reply is that is actually depends on the industry and type of business that you operate. And then we analyse their business and let them know the best tailored way forward. But there are a few basic things that you can do whatever your business is and below is a helpful list - because everyone loves a to the point list:
We haven’t gone into details about the points raised above, as really most entrepreneurs already know then. It’s more likely that over time they have forgotten to apply or did once apply them but now are too busy doing other things and have lost focus of how important they are. As such they are more a timely reminder for the serious entrepreneur as the UK economy slows down towards the leaving the EU. As they say ‘the cream always rises to the top’ and you just cant stop a good business, so make your business better today for a successful future. By Anni Khan at Tax Affinity Accountants Tax Affinity Accountants are experts in Tax and Accountancy. Based in Worcester Park and Kingston upon Thames they are considered in the Industry to be expert accountants and advisors for small businesses. Helping and supporting business throughout the UK, they regularly help new and established businesses to succeed. For more information visit www.taxaffinity.com. To read more interesting articles like this visit www.taxaffinity.com/blog. Please feel free to comment and share this with your friends.  Tax Affinity - Expert Chartered Accountants in Kingston upon Thames Now that the dust has settled after UK voters decided to leave the EU in the referendum last week. It is worth taking stock of what is going to happen in the short to medium term financially.
While many media outlets are playing the doom and gloom card and many unhappy pro EU voters waste time creating futile online petitions and holding demonstrations to redo the referendum. Entrepreneurs who hold no political agenda are gearing up and putting more positive energy into their business to make it stronger for the future. They know that the decision has been made and thinking positively of what will come and how to steer their business away from problems is the way forward. So the question is what are they looking at? Well the following list should help highlight what they are looking at to help you focus on what is important for you:
By Anni Khan at Tax Affinity Accountants Tax Affinity Accountants are experts in Tax and Accountancy. Based in Worcester Park and Surbiton they are considered in the Industry to be experts accountants for small businesses. Helping and supporting business throughout the UK, they regularly help new and established businesses to succeed. For more information visit www.taxaffinity.com. To read more interesting articles like this visit www.taxaffinity.com/blog. Please feel free to comment and share this with your friends. |
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