Month: March 2015
The Small Business Clinic has completed another successful year! Throughout the academic year of 2014/2015, we have:
- hosted 6 clinics in Winchester and Highfield
- provided professional advice on business and taxation to 36 clients
- delivered 3 business seminars, attended by 167 people
- received largely positive feedback from our clients and audiences, with an overall rating of 89.5%
We would like to take this opportunity to thank all the staff and student volunteers of the SBC for making 2014/15 a success, especially consultant Renold Tang for his exceptional dedication to the clinic and the clients. We would also like to thank all our clients, and wish them all the success in their future endeavours!
We look forward to helping more entrepreneurs next semester! Unfortunately, we have no scheduled clinic dates for the rest of the 2014/15 academic year. We will resume our clinic service in the next academic year (2015/16), in November 2015. Please check this space for updates, or register your interest with us by e-mailing us at sbclinic [at] soton.ac.uk; we will contact you once new dates are available.
Our business seminar yesterday (12/03) at the Winchester School of Art Re:Work fair was well received! Clinic Consultant and Southampton alumnus Renold Tang delivered two seminars on “Running Your Own Business (Part 1)” and “Starting Your Own Business: The Mechanics (Part 2)” to 15 entreprenueric art students. Drawing from his knowledge as a Fellow Chartered Accountant and experience as an entrepreneur, Renold’s lecture covered topics ranging from ‘different types of business vehicles’ and ‘important clauses to include in a shareholders agreement’ to the sacrifice and self-discipline required to start a business.
Feedback from the audience were largely positive, with audience praising the interactiveness of the seminar.
Overall, the seminars were given a rating of 88% by the attendees, with good marks for all criteria including “Info about seminar”, “Quality of service”, “Quality of advice”, and “Treatment by staff”. and “Sufficient amount of time”.
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Renold has also published his suggested list of matters to be included to in a shareholders’ agreement on our website, which can be found here.
Interested in booking a 1-on-1 appointment with us? Unfortunately, we have no scheduled clinic dates for the rest of the 2014/15 academic year, as we have recently concluded our current season. We will resume our clinic service in the next academic year (2015/16), around Oct/Nov 2015. Check this space for updates or register your interest with us by e-mailing us at sbclinic [at] soton.ac.uk; we will contact you once new dates are available.
In our seminar at the Winchester School of Art on the 12th March 2015, our guest speaker, Renold, discussed Shareholders’ Agreements. Here, we briefly list some of the matters to be considered in a Shareholders’ Agreement (in addition to the usual standard clauses in a legal agreement):
- Who should be in the management team
- How to appoint the Management team
- Conflicts between the Agreement with the Company’s M&A
- Meetings – what constitute a meeting, notices …etc
- Change of nature of business
- New members
- Merger, acquisition and disposal
- Winding up
- Sale and investment
- Capital expenditure
- Hiring and dismissing key staff
- Settlement of claim
- Compensation of wages
- Management information
- Exiting the business – good leaver, bad leaver
- Financial obligation
- Tag-along right
- Payment terms
- Life insurance
- Indemnity insurance
- Access to records
- Notice and change of contacting details
- Employment contracts
Thinking of starting your own business? The Small Business Clinic will be running a free business seminar at the Winchester School of Art Re:work Career Fair. Our guest speaker, a Chartered Accountant, will share his experience as an entrepreneur and talk about a wide range of topics such as ‘different types of business vehicles’, ‘important clauses to include in a shareholders agreement’, and ‘the sacrifice and self-discipline required to start a business’.
Past attendees gave very positive feedback, including:
- “Hearing first-hand experience from a knowledgeable consultant is extremely valuable!”
- “Very interesting and informative…”,
- “the sessions rallied my enthusiasm”
Date: 12th March 2015
Location: Lecture Theatre C on West Side, Winchester School of Art
PART 1 – Running your own business
- What, why, how and when
- Self discipline
- Types of business venture
PART 2 – Starting a business: ‘the Mechanics’
- Business vehicles
- Difference between those vehicles
- Do you need an accountant?
- Business registration.
- Partnership and shareholders agreement
- Customer contracts
- Supplier contracts
- Employment contracts
- HMRC registration
*Please note that this seminar is similar to the session we held in Highfield in November 2014.
Our 4th March 2015 clinic in Highfield was a success, recording an overall rating of of 93%. It was a busy clinic day as we served 7 clients.
Our clients rated our quality of service, quality of advice, clarity of advice, privacy and treatment by staff above 90%.
Thanks to all clients who have provided us with feedback- this is the last clinic for the 2014/2015 academic year. Next week, we will be delivering a seminar at the Re:Work career fair at the Winchester School of Art. We will resume our normal clinic services in Oct 2015.
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Interested in attending the small business clinic? Book an appointment today by e-mailing sbclinic[at]soton.ac.uk.