Accounting
Invoices and statements
Bills and reminders
Invoice Date, Invoice number total Terms -when it is due.
Business address
Customers address
Items by tem details of service provided
Total amount due
Statement
Busness addres
Customers address
A list of recent invoices you have sent out
Deatils of invoices paid and unpaid
Total amount outstanding
On the reverse -Terms and conditions
Designed to protect your rights and interests
Costs
Delivery arrangements
Payment terms
Credit limits
Your right to charge interest on overdue anoubts and ccliam compensation for recovery of costs
A commitment to quality
Data protection
The statement
Send out before the invoice id due or before the due date
Send out every month there after
How much is owed
How long it had been outstanding
A call to action
Accounting software -
Quick books - simple start
Quick book £75
Online quick books essentials £19 per mth
Bank tree !26
Sage £240
Accountant - Chartered (to expensive) or Certified
What business spend money on
1.start up costs
2. Overheads
3. direct costs
Start up costs
Sepnd cash on equipemt
Design website
Register company name
Design logos - make signs
Decorate premises
Launch party
Funding
Many companoes get a loan to cover these initial expenses
Short term payback each mth over 2-3 years
From
Banks (not likely at the moment)
Crowd funding - Find them online eg opening your project online, not usually have to give shares
Investors and councils
The Arts Council, Creative England (was Yorkshire Forward), Venture Capitalists, Shareholders. Venture capitalists - get a % stake or return in your business.
Prizes and awards
Shell live Wire, Make you mark, BIPP< D&DA
What investors want to know:
What your marketing plan is (50% of your business plan)
How much money your need?
How much money you can invest?
How ill you spend the money?
How will you pay it back
ie how much you forecast to earn
Indirect costs
Untilities
Office supplies
Equipment leases
Part time help
Insurance
Bank chags
These are also know as
Overheads or fixed costs or the costs of doing business
Direct costs
A cost directly attributable to manufacturing of aproduct
Or what the customer takes away with them
Eg A bottle of water
Direct costs
Water 0.25p
Bottle with a cap
Label
Tray and cling wrap
The overheads or indirect costs all add up
Tangible assets
Assets having a physical existence and that maintain
Name an intangiable assets
Brand
Reputation
Intellectual property
Goodwill
Trade secrets
Copyrights
Trade marks
The things that give you a intangible asset
What is the difference between cost and price?
Cost - what your spend
Price - What you charge
Capital
The money, property and other valuables which colletively represent the wealth of an individual or business
Capital Assest
Receipts - money coming into the business eg from sales
Payments - Money going out of the business for rent and materials
Cash flow or net cash flow - cash minus cash payments
Balance
The amount of money in an account at any given moment
Profit
The positive gain from an investment or from a business operation after subtracting all the expenses
Loss
A position in which a company's expenses have exceeded it receipts. A reduction in the value of an investment
Tax
Income tax
Corporation tax
VAT
Council tax
Business rates - Check if you rent if you will pay ontop of the rent
What to do if starting a business
1. Open a seprate bank account for your business
2. Find a certified accountant
3. Find a local solicitor
4. Register your Business with the Inland Revenue
Four online sources
Business Link
Startups
HM Revenue & Customs
Creative Choices - David Parrish wrote this book Tshirts and suits. can download this book for free.
Lisa Whitaker PPD
Monday, 30 January 2012
Monday, 16 January 2012
Logo ideas and Press ad ideas
These are my initial ideas
We all liked Claudia's ideas of the refresh button. We all liked the hand rendered lettering that Charlie had designed. We agreed to try to limit the RE: message to just three /four words max. The group liked the idea of a three dot colon as yet gave the design a more considered appearance.
Marty agreed to come up with some layouts for the Pressad as this is a strength. These are:
Charlie has also tried variations of the agreed LOGO
Enterprise lecture -Dont get ripped off
Copyright matters and Intellectual Property rights
You are the only person that has the right to reproduce copies of your work.
Protect your ideas and make a living from your work.
As students we are allowed to use Copyrighted work. Leeds College of Art pays a number of licences to enable us to photocopy books, mags and journals.
Intellectual Property (IP) refers to the creations of your mind. eg
-inventions, literacy and artistic works, symbols, names , images and designs used in commerce.
4 type
Patents
New inventions - electronic, mechanical, medicine,
first patent no. 385 Henry Mill - Typewriter (QWERTY)
Ringpull can. Earning $150,00o per day as a result of Licencing it
Patent leather - 1818. wipe clean leather
Trademarks (Logos)
Can be complex devices. Send image and colour references to the Intellectual prop Office with TM next to it. Indicates under investigation. Once confirmed can use R
Eg McDonald's, Heinz Beans complex fonts, shapes, colour. Guinness trademarked glass
A Logo is a symbol image which imbues all the quality and identity of a brand
US and UK strongly policed but not in China
Registered designs
Appears to be new , re-arranged eg Laptop with personalised stickers, Alessi Kettle, when iPhone was launched Patent pending,Registered design, registered trademark of Apple Inc.
Milly bag
Intellectual Property website - Graphics, Promotional materials.
Costs £60 per registration
For a font had to register each letter
Copyright
Automatic- Don't apply for or register. You have to record sign and date the work (Can use the Post office or banks as they are guaranteed to be today's date).
Art, literature, music, animation, film, games.
Can you certain Digital methods
Examples
Every book has a ISBN number
Record - Ownership with identifying number.
Fairey vs Associated press
Photograph copied by Shepherd Fairey - Copies Photo and used Barack Obama's logo 'hope'. In court for three years.
Sarah Palin v Heart (Organisers had a licence to Broadcast). Heart were offended that they may be associated with the Palin campaign.
Jonny Cup Cakes v Urban Outfitters.
V Benny Frying Pan (SE Asia) rips off all t-shirts as wanted to do legitimately but Jonny wouldn't.
Rubber stamps can be Copyrighted with fair use rights
Sampling of music and film can be used.
How to secure your copyright
Add the symbols copyright year and your name then publish on blog, or site deviant art.
If many keep a index/log book of them all with Date logged, id no.. descn and location.
Patents last 20 years - inc medicines
Trademarks and logos - For ever/ renew every 10 years
Design Rights
Copyrights
Until 70 years after death so can be assigned or bequethed
Star Wars - George Lucas gave up his salary at Fox for a share of box office revenue and merchandise rights.
The Andy Warhol Foundation - establised before his death. He bequeathed his copy right to the foundation.
Peter Pan - JM Barrie - Bequeathed the rights to Great Ormond Street Hospital. Due to end 1999 but government changed ruling to Not for profit organisations. Sequel Hook.
Deviant Art
Will licence Art work for free
CSL
AOI Association of illustrators.
Intellectual Property website
Own-it
You are the only person that has the right to reproduce copies of your work.
Protect your ideas and make a living from your work.
As students we are allowed to use Copyrighted work. Leeds College of Art pays a number of licences to enable us to photocopy books, mags and journals.
Intellectual Property (IP) refers to the creations of your mind. eg
-inventions, literacy and artistic works, symbols, names , images and designs used in commerce.
4 type
Patents
New inventions - electronic, mechanical, medicine,
first patent no. 385 Henry Mill - Typewriter (QWERTY)
Ringpull can. Earning $150,00o per day as a result of Licencing it
Patent leather - 1818. wipe clean leather
Trademarks (Logos)
Can be complex devices. Send image and colour references to the Intellectual prop Office with TM next to it. Indicates under investigation. Once confirmed can use R
Eg McDonald's, Heinz Beans complex fonts, shapes, colour. Guinness trademarked glass
A Logo is a symbol image which imbues all the quality and identity of a brand
US and UK strongly policed but not in China
Registered designs
Appears to be new , re-arranged eg Laptop with personalised stickers, Alessi Kettle, when iPhone was launched Patent pending,Registered design, registered trademark of Apple Inc.
Milly bag
Intellectual Property website - Graphics, Promotional materials.
Costs £60 per registration
For a font had to register each letter
Copyright
Automatic- Don't apply for or register. You have to record sign and date the work (Can use the Post office or banks as they are guaranteed to be today's date).
Art, literature, music, animation, film, games.
Can you certain Digital methods
Examples
Every book has a ISBN number
Record - Ownership with identifying number.
Fairey vs Associated press
Photograph copied by Shepherd Fairey - Copies Photo and used Barack Obama's logo 'hope'. In court for three years.
Sarah Palin v Heart (Organisers had a licence to Broadcast). Heart were offended that they may be associated with the Palin campaign.
Jonny Cup Cakes v Urban Outfitters.
V Benny Frying Pan (SE Asia) rips off all t-shirts as wanted to do legitimately but Jonny wouldn't.
Rubber stamps can be Copyrighted with fair use rights
Sampling of music and film can be used.
How to secure your copyright
Add the symbols copyright year and your name then publish on blog, or site deviant art.
If many keep a index/log book of them all with Date logged, id no.. descn and location.
Patents last 20 years - inc medicines
Trademarks and logos - For ever/ renew every 10 years
Design Rights
- up to 25 years
- Renew every 5 years
Copyrights
Until 70 years after death so can be assigned or bequethed
Star Wars - George Lucas gave up his salary at Fox for a share of box office revenue and merchandise rights.
The Andy Warhol Foundation - establised before his death. He bequeathed his copy right to the foundation.
Peter Pan - JM Barrie - Bequeathed the rights to Great Ormond Street Hospital. Due to end 1999 but government changed ruling to Not for profit organisations. Sequel Hook.
Deviant Art
Will licence Art work for free
CSL
AOI Association of illustrators.
Intellectual Property website
Own-it
Sunday, 15 January 2012
Our Company and Creative Review - Cost of advertising
Cost of advertising
Sadie phoned Creative Review to ask for prices for advertising space. They are going to email them. We though it better if only one person phoned for the whole Course.
The cost of advertising in the Creative Review is quite staggering... for the smallest ad thats worth considering it will costs us £500. If we budgeted £2000 per year for promotion thats a quarter of the budget before we have even started for one ad!
I suppose you are making a statement however not sure it would hit our target audience if we are planning to Re:vive and re:brand? Unless Creatives out there dont want to do their own, maybe?
Some examples of ads in this months Creative Review
On Tuesday 10th January we have a 45 minute brainstorm where we had to come up with our company name, and what Services we were offering.
Our interests
Charlie - bespoke print, ethical, music industry, communication
Marty - layouts, branding and identity
Lisa - branding and identity
Claudia - illustration, web design
Branding and Identity seemed to come across as a shared interest. I shared with the group some recent experiences with experience Graphic designers my age who had recently gone Freelance. Neither have a brand or website or even an internet presence through blogging. From this, the whole idea of bringing something to life, changing it, improving it for the better came, and this gave us somewhere to start to think of a name.
Name suggestions: metamorphosis; refresh, brand refresh, morph, evolution, flux, reflux (Heartburn!), flux design, vivify, revive, metaflux, vivi, re:
(A lot of the names we liked were already taken by other graphic design companies or creative collectives, and some of the names we looked at we realised had double meanings that weren't appropriate - such as diarrhoea!)
The idea we presented:
Group - Charlie, Claudia, Lisa & Marty
Company name - Re:
Idea - We aim to bring life to new companies with a complete identity package, and to help refresh existing companies without an identity or in need of a new one
Slogan - Re:work, Re:fresh, Re:vive, Re:brand
Industry - Business to business
10 Key Services -
1. Branding & identity
2. Web design
3. Editorial design
4. Creative consultation
5. Company to client contact time
6. Print specialism
7. Illustrative design
8. Whole package service
9. Photography
10.Mix of skills
We agreed as we had to designa Press Ad for creative review that the next step was to individually come up with some ideas then come back and share.
Our initial ideas are linked here
On Monday 16th
Sadie phoned Creative Review to ask for prices for advertising space. They are going to email them. We though it better if only one person phoned for the whole Course.
I suppose you are making a statement however not sure it would hit our target audience if we are planning to Re:vive and re:brand? Unless Creatives out there dont want to do their own, maybe?
Some examples of ads in this months Creative Review
On Tuesday 10th January we have a 45 minute brainstorm where we had to come up with our company name, and what Services we were offering.
Our interests
Charlie - bespoke print, ethical, music industry, communication
Marty - layouts, branding and identity
Lisa - branding and identity
Claudia - illustration, web design
Branding and Identity seemed to come across as a shared interest. I shared with the group some recent experiences with experience Graphic designers my age who had recently gone Freelance. Neither have a brand or website or even an internet presence through blogging. From this, the whole idea of bringing something to life, changing it, improving it for the better came, and this gave us somewhere to start to think of a name.
Name suggestions: metamorphosis; refresh, brand refresh, morph, evolution, flux, reflux (Heartburn!), flux design, vivify, revive, metaflux, vivi, re:
(A lot of the names we liked were already taken by other graphic design companies or creative collectives, and some of the names we looked at we realised had double meanings that weren't appropriate - such as diarrhoea!)
The idea we presented:
Group - Charlie, Claudia, Lisa & Marty
Company name - Re:
Idea - We aim to bring life to new companies with a complete identity package, and to help refresh existing companies without an identity or in need of a new one
Slogan - Re:work, Re:fresh, Re:vive, Re:brand
Industry - Business to business
10 Key Services -
1. Branding & identity
2. Web design
3. Editorial design
4. Creative consultation
5. Company to client contact time
6. Print specialism
7. Illustrative design
8. Whole package service
9. Photography
10.Mix of skills
We agreed as we had to designa Press Ad for creative review that the next step was to individually come up with some ideas then come back and share.
Our initial ideas are linked here
On Monday 16th
Monday, 9 January 2012
Enterprise lecture 6 - Don't just get the job!
How to start a business/set yourself up.
Todays climate may have to set up as fewer opportunities and also a lot of support to set a business up. The risk is lower.
87% of creative industries are organised with 10 or less people.
Disclaimer
Start a business can mean become a Freelance designer, 'collective', creative commune, or practising artist
Jonny Cup cakes and Bongo boy How to start a business - YOUTUBE video
Issue discussed:
Why start a business - be passionate/ driven
Collaboration - Disney, Warner Brothers - Aim high
4 PS- Product - t shirts
Price reguar and limted editions
Promotion - USA tour
Place - Fantasy bakery on stroids
Getting ripped off - copyright matters
Marketing
See slide 2 for rest
Getting started
Starting a business...they think it takes luck, a clever idea or just knowing the right people. Thats not true. Its about you. Mark Boulton - Web Designer
Personality is important
www.growing business.co.uk - advice:
Todays climate may have to set up as fewer opportunities and also a lot of support to set a business up. The risk is lower.
87% of creative industries are organised with 10 or less people.
Disclaimer
Start a business can mean become a Freelance designer, 'collective', creative commune, or practising artist
Jonny Cup cakes and Bongo boy How to start a business - YOUTUBE video
Issue discussed:
Why start a business - be passionate/ driven
Collaboration - Disney, Warner Brothers - Aim high
4 PS- Product - t shirts
Price reguar and limted editions
Promotion - USA tour
Place - Fantasy bakery on stroids
Getting ripped off - copyright matters
Marketing
See slide 2 for rest
Getting started
Starting a business...they think it takes luck, a clever idea or just knowing the right people. Thats not true. Its about you. Mark Boulton - Web Designer
Personality is important
www.growing business.co.uk - advice:
- do what you love
- Start your business while you are still a student or employed.
- Don't do it alone.
- Write a business plan
- Do the research
- Get pro help
- Get legal and tax issues right first time.
www.sybmagazine.com
- Come up with a good business idea
- Write a business plan
www.betterbusiness.co.uk
www.bytestart.co.uk
Why are you starting a business
Company structure
Skills - Collaborate if you neeed more skills
Funding
Competation
Markeplace
Business pan
Staff
Seek profesional advise
Biggest cause of failue - find out so you can avoid
What is a business plan?
- A business plan is a written statement of where you going to go and how you are going to achieve it.
See diagram - Mission and value/ activity and skills required - what problems are you going to solve and how are you going to make things better.
Money, Financeneeded, Budgeting and money management systems
Resources and equipment needed ( Overheads)
Marketing - 4ps
Monitor your Competitors
In short - If you want to invest oney or ask for investment need to know:
What are you going to do?
What is the value proposition?
What resources you need?
How much it will cost to get it started?
How will you pay for it?
Who are you target customers?
Business plan - why we need one?
In short - If you want to invest oney or ask for investment need to know:
What are you going to do?
What is the value proposition?
What resources you need?
How much it will cost to get it started?
How will you pay for it?
Who are you target customers?
Business plan - why we need one?
- Focus your efforts
- Set some clear objectives - to review in a year
- To enable you to track your growth
- To raise finance
- Attract collaborators - partners
Www.freelance.com
Where to find a business plan:
- Banks
- Download on Barclays
- The Arts Council Grants - if will benefit people/social project
- www.businessball.com - informal
- www.businesslink.gov.uk - now disbanded but can still use resources
Funding?
- By helping others to get grants - Assist Not for profit, community organisations. Get a grant to do the work you can do i.e. Website design, branding
- Crowd funding - Websites inviting people to invest small projects - Chose correct project website. Need a business plan
- wedidthis.org.uk - Crowd funding website
- Cooperative - Film makers, graphic designers, photographers small investment from each collaborator.
How do you get organised?
Work alone, team, colaborate?
Organisations - Meredith Belbin - British team management author
http://www.mindtools.com/pages/article/newLDR_83.htm
Power Culture - eg Owner managed - Restaurant, family business. Can be difficult to work in these kind of business, can be unpleasant.
Role Culture - Large organisations - hierarchies eg College, PLCs, Councils
Task/matrix culture - Collaborators/freelance come together eg Holywood making a film., Interior designers, Festival
Person culture - eg a dental practice - for dentist with their own clients they need shared services such as cleaners, receptionists, Solicitors, Design practice
How will you organise your practice?
What skills do you need to get the job done?
Income streams
- Private commissions
- Freelance design work
- Workshops, part time teaching
- Royalties from book sales - subject passionate about
- Professionals seminars
Why I started a business - video
Jeff Bozoz - No regrets staring Amazon
What status?
Legal status determines how much tax you pay - what are t=you going to do with your profits - In pocket - self employed
- SHare - Cooperative
- Charity- Social enterprise
Look at hyperlinks on power point
Sole trader
Partnership
Limited Company
Limited Liability Partnership
Public Limited Company
Can determine how the business iis run
Whetehr you can get investment
Companies House
Businesslink
Social Enterprise Coalition - Not a legal status
Cooperatives Uk
Taxation in the Uk
Tax allowance £7475
tax bands
0-35000 20%
35001-150000 40%
Over 150,000 50%
Applies to everyone
National Insurance Contributions - State pension, aspects of NHS, rescues people
Without this we would have to have private dental, medical insurance
Self employed £2.50 per week
Class 4 7000 to £42,475 pay 9%
Self employed also pay class 1 - 3.7%
Sole Trader obligations
- Keep records safe
- Separate personal from business expense
- Private and business use of car
- Responsible for any debts
Partnership
- Run by two or more people
- Share of profits
- share of debts
- share need not be equal
- Responsible for any debts
Limited Company
Directors and shareholders liability for debts is limited to a % of ownership.
Annual meeting
Approve accounts
Register with companies house
At least two employees - Can do as sole trader and put your wife/husband as 1% shareholder.
Startup have a £10,000 tax free threshold
Liabilities
NIC payments
Corporation tax payments
VAt payments
Corporation tax
21% ,£300,000
VAT registered
More than £70k
Charge extra 20% on all invoices to customers.
5%
Zero rated - water supplies, Food in restaurants, Passengertrasnport
Exempt - Needs an act of parliament to change
You hav
Eye to eye: Richard Branson interview.e to register charge 20% more and can claim the VAt back on everything you buy. No advantage if you do not buy a lot of goods.
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