March 2, 2010

Creative Futures. Monday 1st March

Posted in Professional Practice at 6:04 pm by lisa jos

Notes I made during the talks at the Catrin Finch Centre as part of creative futures week.

10a.m.

A woman who started her own graphics and marketing business called Promofix spoke about the difficulties of starting out with a new business and the obstacles to overcome.

11.30a.m.

Garry Greenwood from Venture Wales spoke about business planning.

Six Key Sections

1. Introduction and background

2. Market and Competitors

3. Marketing strategy

4. Operations

5. Financial data and forecasts

6. Appendices

Things to consider – idea, detail, legal status, owner/management details, product/service details. Business idea, technical specifications, features and benefits, unique selling point, design, packaging, future development plans.

Features / Benefits (the benefits of the features is what’s important.)

-Marketing needs to match product/service of the business

-Marketing – linked-in is a ‘business facebook’, e-bay, twitter ..

-Target markets – who? narrow target market – better, cheaper, more focus

-Unique selling point

www.patents.gov.uk

-Operations – health and safety, legal aspects, premises, equipment, suppliers, staff, processes, systems/procedures, quality control, insurance …

-Financial data – cost/prices/volumes, funding, sources, profit and loss account, balance sheet

-Appendices – previous work, photographs, evidence

-Executive summary – purposes, obstacles, finance.

Advice for anyone considering starting their own business – get an accountant.

1.30p.m.

Tracy Simpson, project manager

- Public Arts commissions

- Stiwdio safle

- Strategies and proposals

- Getting grants for new businesses. Usually time/aim-specific

- eligibility and deadlines – check carefully

- can’t get funding? what next? – interest free loans; form a group; get free advice; local authorities and galleries.

- check eligibility, priorities.

-Research – gather basic information, estimated total project cost

- show previous work, CV

- make notes, keep evidence to justify the business.

Safle – North Office

Principals House

49 Regent Street

Wrexham

LL11 1PF

01978 293 534

2.30p.m.

Shona Hambleton, tax assistant accountant.

(in) ££££ EXPENDITURE —–> business ——->(out) ££ INCOME

-sales, loans, grants, capital introduced.

- keep records, invoices and receipts.

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