The BBC have just sent us the press release for Dragons' Den series 8 and would love to receive some applications from young entrepreneurs via Shell LiveWIRE.
 

Dragons' Den



Entrepreneurs from across the country once again have a chance to make their business dreams come true by appearing on Dragons’ Den. If you’re genuinely seeking investment for your business idea or invention, the BBC would like to hear from you.

Dragons’ Den is a challenging place to pitch, but it’s also a genuine business opportunity to secure investment. In the most recent series, 15 entrepreneurs accepted offers of investment in the Den and plenty more have gone on to find success even without the backing of the Dragons.

In fact, over the previous seven series the Dragons have pledged to invest over 8 million pounds in a wide variety of business ideas and have personally changed the lives of over 70 entrepreneurs. Statistics show that investment opportunity has doubled since the programme began - if you appeared in the den in the last series you had more than a one in five chance of investment.

Download the application form at: www.shell-livewire.org/news/dragonsden

Your online tax return must be filed by 31st January. You will be liable to a £100 late filing penalty if your tax return is received after this deadline.

Any money you owe HM Revenue & Customs must be paid by, or on, 31st January, otherwise you will be charged interest. You will also have to pay a surcharge of 5% if any amount remains unpaid after 28th February.

For further help and information go to www.hmrc.gov.uk and under individuals & employees select Self Assessment.

Related information

January Tax Tips from Lucy Cohen (Mazuma)

HMRC Tax Widget - this handy tool in the Shell LiveWIRE Business Library provides written and video guides for small businesses to get their tax right

Way back in September 2009, I downloaded a handy guide from MoneySavingExpert.com called 'Boost Your Income: Over 50 ways to bring in extra cash' which I had a brief scan through but have been meaning to look at properly ever since (see www.moneysavingexpert.com/protect/make-money).

Anyway, I finally had a proper read last night and there was a bit about making cash from unwanted CDs, DVDs and games by using a site called Music Magpie (www.musicmagpie.com) which basically lets you type in the barcode number of the item and then it makes you an instant cash offer. You then submit your order and it will send you a FREEPOST label to stick on a box or parcel.

My wife and I started de-cluttering our house last year in readiness for the arrival of our baby boy Jake and I spent a few cold mornings selling some stuff at the local car boot sale, but no-one seemed to want our CDs. Rather than chuck them out, I decided to give Music Magpie a go and am glad I did because it was so easy to use, and we now have a cheque of £35 heading our way in return for a load of old/unwanted CDs and a handful of DVDs.

You need to input a minimum of 5 CDs, DVDs or games up to a maximum of 500, and you don't get much money with prices ranging from 30p per CD up to £3 for a rare / double CD and more for DVDs and games, but it's better than chucking them in the bin and we got a couple of quid for some of them.

Take a look for yourself at: www.musicmagpie.com

Following my earlier post about the Land of Lost Content, Mr Wayne Hemingway has just sent me details of a fantastic new annual event celebrating the best of British culture called 'Vintage at Goodwood'. See details below;

Vintage at Goodwood is a brand new and truly unique annual event which celebrates 5 decades of British Cool. It brings together and celebrates the music, fashion, film, art, dance and design from the 1940s, 50s, 60s, 70s and 80s, that has made Britain the world’s creative and cultural hot bed. Vintage will explore this rich cultural history and the extraordinary influence that it has had on the modern world.

Vintage at Goodwood features an inspirational line up of world renowned bands, with performances by the latest contemporary acts who have been inspired by the past, as well as the living legends that have inspired them. There will be DJs, collectors from each decade as well as current artists and brands inspired by Britain's rich creative heritage. Vintage pays homage to the best of British fashion design through a line-up of catwalk shows, hands on creative experiences and the very best purveyors of vintage clothing .The event will explore the musical, design and cultural lineages and offer a glimpse of where we go from here.

Vintage is the brainchild of designers Gerardine Hemingway MBE and Wayne Hemingway MBE of Red or Dead fame in partnership with Lord March, mastermind behind the internationally acclaimed Goodwood Festival of Speed and Goodwood Revival.

All aspects of Vintage at Goodwood are curated by a team containing the most experienced, knowledgeable and respected figures within the music, design, film, fashion and entertainment industries. The Vintage curatorial team will bring an unparalleled authenticity and an attention to detail to the Vintage experience.

In the spirit of the fondly remembered and design led, 1951 Festival of Britain, Vintage is a celebration of where we have come from, and where our creative culture is taking us. Vintage is a new ‘Festival of Britain’. The Rock n’ Roll stage may feel like your stepping into a 1950s club, where Rock n’ Roll had its roots, but as well as authentic rockabillys expect to see how the spirit of “52 is embodied in contemporary rock and punk bands. Catwalk shows may feature stunning 40s suits but will also show how the cut, the fabrics, the hair and make-up have influenced collections up to the present day. From Vintage’s 1940s Torch Club, to the 80s “abandoned” Warehouse, and to our “Inspired By...” main stage, Vintage will celebrate our creative past, present and future, in style.

Vintage at Goodwood will inspire you to stay glamorous. If you buy a suit from the world’s biggest Vintage Clothes market, there will be a tailor on our high street to make it “just so”. If you spill down your frock, visit the Vintage Launderette. If you want your hair done in readiness for a great night out in our one of our five on-site clubs, then visit one of the numerous hair salons and pick a style that suits your mood - it’s all part of the fun.

Nestled into a secluded valley, within the famous Goodwood estate in Sussex, Vintage will offer "posh woodland camping that really is posh" for those who want to spend a summer weekend immersed in the very best of British culture. Vintage at Goodwood will be the British holiday of choice for the culturally aware. Come and take a peek through a window to tomorrow, via the past .Experience Vintage at Goodwood on August 13, 14 and 15, 2010. From architecture to fashion, from design to music - the five decades of cool will always offer plenty of sharp clues as to future trends. www.vintageatgoodwood.com

"The story begins with the past, continues with the present, and ends with a preview of the continuing future.” (Festival of Britain Brochure 1951)

On Friday 27th November 2009, I attended the PNE Group annual lecture with Charles Bean, Deputy Governor of The Bank of England titled 'Is the great recession over?' and here's what he said...

Firstly, he started by giving a bit of background about the causes of the recession. Much of it you will already know from watching the news or reading the paper but it was interesting to hear it from someone in the 'eye of the storm' as it were.

These include;

1. Previous record of great stability leading to complacency and relaxed attitude to investment risk.

2. Low interest rates. The US Federal Reserve kept interest rate low meaning it was much easier to access funds and cheaper to borrow.

3. Savings and investments from around the world, particularly Asia / China encouraged investors to put into riskier investments.

4. Failings in international financial markets such as securitisation, sub-prime mortgages, credit default swaps which in principle looked like would work and make the world economy more robust. However, loans sold through securitisation were still held within the banking system as a way to get around legislation. Fine in principle if just one bank doing this but they were all at it and so merely offloading the bad debts to each other.

5. Some of these new 'products' were very complex and so difficult to value - the natural reaction of investors is therefore to shun them, making them harder to move out of the banking system.

6. Distorted incentives leading to the selling of sub-prime mortgages to people with no means of paying them back.

7. City trader bonuses paid on short term results which inevitably lead to people taking more risks.

8. Belief that the public sector / Government would step in and rescue the banks (which they did)!

But why was there such a drastic impact on the World economy? All the above factors coincided with a fall in GDP (Gross Domestic Product) across the globe by 5% in 2007, followed by extreme caution. in September/October 2008 which led to the global recession.

Basically, he thinks that the current economic downturn is not yet over. The deficit for 2010 will be between 10-12% GDP and we are therefore going to see a negative impact on the Public Sector (cuts in spending / possible job losses / pay freezes).

'Quantitative Easing' (putting more money into our economy to boost spending by buying assets from private sector institutions or UK government bonds aka 'gilts') seems to be having a positive effect. (See http://www.bankofengland.co.uk/monet...e-pamphlet.pdf).

There are signs that the UK and World economy seem to be improving. Charles mentioned that the UK Office for National Statistics had recently showed contraction in the UK economy of 0-3% but said that other indicators and data suggested that it was much healthier which makes it much harder to know for certain. Economy seems to be bumping along the bottom. Either way, the likelihood for 2010 is that the recovery will be slower and more drawn out for this major recession than a 'normal' one.

The depreciation of Sterling should encourage more UK exports (which is a good thing is that's your line of business), but will lead to an increase in export costs.

Overall, there are good signs for the UK economy as a whole, and the Bank of England's November 'Inflation Report' said that we should expect a growth rate in the economy of 2% in 2010, and 4% in 2011. At the time of the lecture in November, press commentary on the report had implied that it was overly optimistic, however Charles Bean said that 4% growth rate is still below pre-downturn economy.

He rounded up by saying that there was still a long way to go, and that we should expect a long and protracted recovery from the deepest recession since the warm although we were in a better position than some would have us believe.

Finally, he closed by saying that "Entrepreneurs are the best people to spot gaps in the market, help the economy and get us out of the recession, NOT politicians"!

So, take heart everyone, our future success lies with you!

Sadly, Charles Bean didn't have time to answer any of my questions but I hope that the above info is interesting / of use to some of you. A couple of questions that he did answer from the audience are below;

Question 1: Regarding the collapse of Lehmans Bros., did we not have a similar problem 10yrs ago with the collapse of Barings Bank? Have we not learned anything from that?

Answer 1: Barings was a result of the actions of a single 'Rogue Trader', rather than failings throughout the banking system. However, the collapse of Lehmans had a much greater effect on the economy as the banks were all buying and selling toxic assets from each other and therefore the failing of one impacted all the rest.

Question 2: Are all banks the same, or are some better than others? Should consumers be choosing their banks more strategically rather than merely on the customer service they provide, how nice their branches look inside or short term incentives to bring in their business?

Answer 2: Charles Bean obviously didn't want to seem to favour one bank over another so simply said that all banks have different ways to fund their activities and more expertise in certain markets than others. He recommended shopping around and going to the bank that gives you the best service as they should all be trying their hardest to win your custom and earn back your trust. He also reminder people that there is currently a de factor 100% guarantee for depositers, and advised spreading money around rather than putting all your eggs in one basket.

For more info from the Bank of England visit: www.bankofengland.co.uk