How To Set Up A Cake Making Business

box of cupcakesSetting up your own business means that you can do what you love and earn money from it – a tasty prospect!

With The Great British Bake Off just around the corner, we’re all going to be trying our hand at baking some showstoppers of our own. Baking is a really rewarding hobby, and with enough practice you can become incredibly good at it. What if you want to turn your passion into a business though? Well, it can be done – here’s everything you need to know about building your own cake making empire.

Keep it legal

Red tape isn’t the most exciting part of building a business, but it’s probably the most important. So make sure that you’re operating within the law from the start, and keep in regular contact with the relevant authorities. That includes the tax office, your bank, insurance company and local council.

Spread the word

Once you’re up and running, it’s time to get the word out there. Most businesses’ first orders come from people they know, so tell your family and friends and give them your business card. To reach people you don’t know, set up some social media accounts and a website and start to make your presence felt online.

Find your niche

Don’t bite off more than you can chew – find a niche. By focusing on one particular kind of cake, you’ll be able to do that well. Maybe extravagant celebration cakes are your favourite thing to bake? Or perhaps you’re confident cooking up cupcakes? Whatever it is you’re more comfortable baking, build your business around that.

The future is bright

It may seem like a long way off, but you can turn your baking hobby into a great way of making money. The Gourmet Cake Company are just one of the businesses that have sprung up in the wake of the nation’s baking awakening, and cupcakes are flying off of the shelves! So why not take a leap of faith and try to take your cake making to the next level too?

What Brexit Means For The Property Market

London housesThe British people finally voted on whether or not to remain in the EU, and by a very small margin, the Leave campaign won. Britain woke up to see the pound at an all-time low and the stock markets in free-fall, as investors all over the world started to turn their backs on the UK economy. There is no doubt that there will be hard times ahead for the British economy, but is it really all doom and gloom?

Supply and Demand Driven Economy

Property is very much a supply and demand driven economy, and for a long time Britain has failed to supply enough new homes for its growing population. Of course, it is not only immigration that has fuelled demand, but also changing social attitudes and demographics of the UK – children want to flee the family nest sooner and people are living longer than ever before. Demand just keeps growing. The low cost of borrowing and Right To Buy schemes have also increased private home ownership in the UK.

Although demand is high there are many obstacles to building, such as local planning restrictions, lack of public investment, skills shortages and increasing cost of raw materials, which puts a brake on house building.

Safe As Houses

However, during times of economic uncertainty, housing has always provided a safer investment, and this is why property tends to buck the trend and outperform the stock markets and money markets. Residential property also provides a healthy income stream with some excellent returns on investment, far higher than can be achieved with blue chip shares. In addition to this, people do not trade homes on a whim – the stock markets may be in turmoil, with record numbers of trades being agreed today, but selling a property is a longer process, and this helps to protect the property market from panic trading.

Infrastructure Investments Will Drive Growth

The government’s major transport infrastructure upgrades, such as Crossrail, will continue to drive demand in new property hotspots around London, especially in Essex – a quick look at estate agents in Brentwood reveals that prices are already increasing in anticipation of the arrival of Crossrail. The northern powerhouse continues to promise growth, which will see increased demand in Manchester, Leeds, Liverpool and Newcastle.

Property Is A Long-Term Investment

Property is almost always a long-term investment. Although some people do enter the buy-to-let market with interest only mortgages in the hope to make a quick profit after a few years, most investors are thinking about returns on investment over decades, not years. Combine this with the fact that the average net income on a property investment is six times the BoE base rate, and the property market looks more secure than ever.

Low To Zero Interest Rates

In fact, there is already talk of interest rates being cut to zero percent this year. Many UK householders are straddled with debt, with large mortgages, credit card debts and personal loans. The government cannot afford to raise interest rates for fear of a surge in repossessions leading to another economic collapse on par with the 2008 credit crunch crisis. Mark Carney has already confirmed that interest rates will remain low.

Britain may be poised to leave Europe – the process may take two years and still needs to be approved by Parliament – but as far as the property market is concerned, investors look set to remain, and the property market actually looks stronger than ever before.

Private Limited Company or Self Employed The Pros and Cons of Each Business Setup

It sounds like a dilemma brought from Shakespeare’s Hamlet. Should you choose a Private Limited Company over being self-employed? Today we are going to review the pros and cons for each option, so you can decide which one fits your interests and needs better. Our article has been written to be as complete as possible, yet it’s short and concise. The information shared here will allow you to know which option to choose, because our end goal is to help you to choose the right options, for a successful entrepreneurship life.

Private Limited Company:

The advantage of this option is that you are likely to pay less tax. But it also depends on where you are located. Because you are subject to Corporation Tax, which will save you quite a lot of money in the long run.

It also makes you look a lot more professional. It can also help you to close more deals, because people in certain industries prefer to work with a private limited company than a self-employed individual. If you want to look more professional, then you should choose this route.

It will also make funding a lot easier, because banks will trust you more. So far now you can see that choosing this option has great advantages, and one of them is the funding.

And also there’s no excuse not to set up your private limited company, because it’s fairly easy. In the UK you can start it with merely 15 pounds, and let’s be honest: it’s dirt cheap.

In short: if you want to have an easier time with tax, look more professional and have no problems with funding, then you need to establish your own Private Limited Company. As we have said it’s cheap and fairly, so evaluate it and give it a try.

Self Employed:

Now it’s time to investigate about the benefits of being self-employed. It can also be an attractive option for many, and right here we will explain its benefits for you.

When you are self-employed you have less expenses, as you don’t have to time for pensions nor other corporate expenses presented by our previous option.

Another excellent advantage of being self-employed is that you don’t have be in a specific location, you can work remotely without problems.

And what about the professional image? It can be solved with a very solid portfolio. You can also set up your own website and have a blog where to share your knowledge, because this will portrait you as an expert, and people will want to work with you.

Another benefit brought by this lifestyle is that you don’t have to mess around with documents. With our previous option the hassle is not so big, but yet you will experience problems. So if you want to work stress-free and just care about your own stuff, it’s a lot better to choose to be self-employed, that may be your best pick.


5 Questions to Ask Your New Company Accountant

The accountant is a very important part of every company out there. If you want to hire the best one for yours, then you need to ask some questions which will show you if he’s worthy or not. These questions will bring you a clear image on who you are about to work with. And if you want to make your company successful, then you need to be very careful with this matter, and today on this article we are going to solve this for you, and bring you 5 powerful questions which will allow you to hire the best accountant for your company.

How Can I Contact You?

As we have said before, your account is a very important part of your company. So you need to have an easy way to contact him at any given time. You need to ask him what the best time to contact him is. Ask him to give you his or her email, along with a phone, cellphone and even a whatsapp number. You need to have many ways to communicate with your accountant, because there are many problems that can appear in the middle of the road, and you will need to contact him as soon as possible.

Can You Help Me With Tax Season?

Tax season can be quite a headache, so you need to ask him if he can help you to go through it, after all he’s the professional in the financial world. You need to talk about this with him seriously, because you can save a lot of money with proper assistance, and you must make sure that your accountant will be able to do it. Ask him how he can help you, so you can see if he’s saying the truth or lying.

How Can You Help My Business Grow?

Every person you hire for your company must add some value. And that includes your accountant. Cut off the fluff and ask him directly this question. If he responds very well, then he may be a good pick, because he knows what his worth is, and what his abilities are and how they can help your business grow. And this is excellent, because it means you are working with someone who really knows what he’s doing.

Can You Determine The Value of my Company?

Your accountant should be able to do this, because it’s part of his skills set. It’s also a nice question to set the pretenders out of the real deals. If he responds that he can, and explains you how he will do it, then he may be the accountant you are looking for.

Can You Give Me a Hand With Business Contracts?

Your account is your business partner, so more than once you will need his help with business contracts, you need to have him near and know that you can count on him. Ask him this and let yourself know if he’s someone you can rely on.

How Much Does It Really Cost to Develop an App for Your Business

Do you want to develop an app for your business? It’s a very good idea in fact, because in a world that moves towards the digital scene, it’s a good thing to have your business present in most scenarios, and that includes the digital world. Because thanks to this, you will be able to target your customers online.

But how much does it really cost? We will examine the costs, so you can start budgeting and see if it’s a viable project for you. Because it can be kind of expensive, but maybe this is what your business needs to move onto the next level.

We will talk about 2 types of apps:

  1. Table-based app
  2. Database app

These are the two more popular options. We won’t go in detail to explain how much it will cost in regards of a specific OS (Android, Windows, iOS, etc). We will just provide you with the bigger picture. Let’s start with table-based apps.

Table-based App:

This app allows you to show your business info in a professional, engaging and elegant way. This is perfect for businesses with many services. The developer will create many lists, so that once a client clicks on them, all the information that’s relevant will pop up and be brought to the client.

This is useful for a wide myriad of businesses, especially because it’s straight to the point, and as such the development costs range between $1k-2.5K dollars. We know that it’s not exceptionally cheap, but for a solid app, this is what you are expected to pay.

The dev can also add a list exclusively for offers that can be updated whenever you see is needed. An effective way to bring your potential customers a way to know more about your business in an app.

Database Apps:

This is for businesses that want to have a highly didactic and responsive app to represent their business. The price here is a bit more expensive, a developer will bill you around $8K-10K dollars depending on how complex it is.

This is recommended for businesses with such a big budget, for small businesses it’s honestly an overkill, because your customers are likely not to need this.

These apps, as its own name suggests, are powered and administrated by a database. The extra cost comes because the developer will have to set up different logical functions, and this comes attached to an extra big cost.

So, if you think your company needs to a very interactive app, then this is the way to go. As we have seen, it’s going to be a lot more expensive, but it can help you to get an edge over your competition, because this professional app will speak very well about your company.


This is what you should expect to pay, of course, the price can differ from developer to developer, and the OS you want it to work for. These are facts you need to consider.