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How do I start a home based baking business? (… A 7 step guide to start a baking business from home)

In recent years, the baking industry has been changing in the UK. The industry as a whole is drifting towards niche baked goods that are healthy and high-quality artisanal offerings. This is promising especially to small and home-based bakery businesses. The changeover from bulk-produced baked goods to homemade selected items offers plenty of growth opportunity for startups and sole traders in the UK. Setting up[…]

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What is a business credit score? (….and why having a solid business credit score matters?)

A business credit score is as important as your personal credit score. Your business creditworthiness is calculated based on your financial history, trade experiences, outstanding balances and much more. Credit scores are generated by Credit Reporting Agencies (CRA). It indicates the lenders how trustworthy you were with your past-payments and how likely you’re to promptly pay your future loans. Let us say, you would want[…]

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How to keep your trade up to speed in a no deal EU exit?

The Government’s top priority is to leave the EU with a deal. But, as a matter of responsibility, the Government has also accelerated “no deal” preparations to make sure the country is on guard for every eventuality. If the UK leaves the EU without an agreement, the businesses in the UK will have to apply excise, customs and VAT procedures to goods traded with the[…]

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HM Revenue and Customs tax facts programme (Tax educations videos 1&2)

HM Revenue and Customs tax facts programme: HM Revenue and Customs (HMRC) is the UK’s official tax and customs authority. Recently they have published useful educational videos with an objective to prepare teenagers for working life. The significance of National Insurance Number: The first video provides information about the national insurance number (NIN) and the perks of using a personal tax account. This is a[…]

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How Mint Formations is different from other UK formation agencies?

There are many company formations agencies in the UK. Almost all of them offer similar services, prices, packages and timescale to register your new UK company. How are we different from other formation agencies? Friendly service with a personal touch: Most company formation agencies operate as a corporate company. Corporate companies do a job, but they are normally soulless without a face. At Mint we[…]

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What are the key responsibilities of a company director? (…7 important statutory requirements of a director)

You might have recently taken on the role of a company director. Are you aware of the legal requirements that a director should follow? Next, to the director appointment, he/she will be expected to fulfill certain duties to the shareholders, employees, and the company itself. The company director is finally held responsible (blamed) if deadlines are not met, or if a terrible fault is made.[…]

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Brexit and UK’s brand: What should UK’s startup companies do now?

Brexit marks an important role in the UK’s national history. Whichever means you see it, Brexit is a monumental change in the status of Great Britain and probably the single biggest political impact on the country after the end of second world war. Has Brexit affected the UK’s brand image in any negative way? How will that affect the state of new UK startup companies?[…]

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How to handle disputes between shareholders? (Or death of a shareholder)

Reasons for shareholder disputes: Common reasons for shareholder disputes are disagreement with the management or company’s direction, conflicts of interest or fraudulent activities. Above all removing a shareholder from a limited company is often rocky and it causes tension among business partners. Hence adding a dispute resolution clause in the shareholder’s agreement or articles can save a great deal of time and money. 1. Steps to[…]

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How to remove a shareholder from a limited company? (…and how to transfer shares to a new shareholder)

A shareholder can leave a company for a variety of reasons. The board might have decided to remove the association with a shareholder, or shareholder might want to voluntarily get removed from the position or simply be removed due to death. After removing a shareholder, a company cannot hold any unallocated shares as per company regulation. Hence the shares of the eliminated or removed shareholder[…]

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What is a business plan? (…and how you can write one)

What is a business plan? At its simplest form, a business plan is a written guide or simply a roadmap for your business. It plainly outlines your business goals and how you are going to accomplish it. A well-drafted business plan enables both partners and investors to understand what you are trying to achieve and how you are going to do it. Why should you[…]

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