Business

Over recent years, a lot of people have decided to start their own business. With problems relating to job security and many people keen to shape their own future, setting up a business has become a popular option among many. The great news is that thanks to modern technology, setting up a business from a home office has become easier than ever. This has given many people the chance to set up on their own.

However, the bad news is that you may need to get your hands on some cash in order to start your business. This could be for equipment, to set up a home office, for marketing, or to buy stock among other things. The amount you need will vary based on the type of business you start, what you need to buy, and other factors. So, it is important to try and work out what you need to borrow before you start looking at your options. In this article, we will look at what some of your options are.

Different Solutions You Can Consider

So, what are the solutions you can consider? Well, first off, you must remember that factors such as your income and credit score will have an impact on the solutions you are eligible for. Some of the options include:

Payday Loans

If your credit is not great or you need to gain access to the cash very quickly, pay day loans might be the right solution for you. There are no credit checks involved, so your credit won’t stand in the way of you being able to borrow the money you need. In addition, you can apply with ease and get the money you need very quickly, so there are no unnecessary delays that you have to worry about. This is a simple, speedy, and efficient option, and particularly suitable for those who would struggle to get finance from a mainstream lender.

Credit Cards

You can also get a credit card to help fund your startup business, and this is something that can suit those who have good credit but want simplicity. However, one thing you do have to remember is that most credit card issuers will want to know your credit is good. If your credit is damaged, you will struggle to get anything other than a credit card for those with bad credit. These generally come with very low credit limits, so you may find it is not enough to fund your startup.

Small Business Loans

Small business loans are also available for those who are looking to start a business. However, this can be a more complicated process that involves putting together a business plan and waiting around for decisions and for the money to become available. Again, you will most likely need to have very good credit in order to get one of these loans.

So, these are some of the options you can consider for your small business venture.

Most of us dream of being our own boss one day. Once you’ve become good at the job that you do, you’ll eventually become resentful about the fact that your boss earns more of the money that you make than you do. You’ll convince yourself that you’re more than capable of doing everything that your boss does, and you could run a similar business yourself and keep all of the proceeds of your labor.

You might be right with that assessment, and you might be wrong. Most people who’ve survived their first year of self-employment will tell you that they quickly realized that their bosses were doing far more work than they initially thought they were! Your success won’t only be governed by the factor of whether or not you can do all of that extra work, though. It will also be governed by the type of industry that you set up shop in, and the type of business that you create. Just because there are people making money in one industry or sector doesn’t mean that there’s space for new business in the same sector, and knowing what to avoid is as important as knowing what to pursue.

Keeping your eyes on trends is essential when it comes to choosing a route to take in business. Which sectors are growing, and which are shrinking? Which are at saturation point, and which are crying out for new blood? As an example, think about how many times you’ve seen adverts for online slots websites recently. You’ll find them on social media, and all over the rest of the internet. Online slots companies sponsor the shirts of Premier League football clubs. There are even a few adverts inviting you to come and play UK online slots on late-night television in some parts of the world. That’s a booming industry right now, but it takes a little specialist knowledge to get involved in it. There are other industries you can get into with far less expert knowledge, but some of them are bad ideas. Let’s look at some of the more obvious ones.

Travel Agency

If you’re a keen traveler, you know how to put together an attractive vacation package, and you have an excellent knowledge of geography and culture overseas, why not set up a travel agency? The answer to that question is that travel agencies are in steep decline, and those that operate on the high street are almost dead. In the United Kingdom alone, it’s been forecast that one-third of all travel agents will be out of business by the end of 2021 – and that was before the events of 2020 hit the industry. Consumers have become accustomed to turning to the internet for assistance in putting travel packages together, and they no longer need the aid of a human being when doing so. Based on the decline that’s set into travel agencies, we doubt that the occupation ‘travel agent’ will exist at all in 2030.

Web Designer/Webmaster

Clearly, there will always be a demand for people who can build attractive web pages and websites. The internet is never going to go away, and every new business – including yours – needs its own website. The issue with the web design business isn’t obsolescence – it’s saturation and changing habits. Sites like WordPress have taken a lot of the hard work out of web design, and if the average web user is prepared to spend a couple of days learning how to use WordPress, they can make a basic website of their own. They no longer need you. It’s possible to overcome this by focusing on making specialist websites and sites that feature greater functionality, but your knowledge base needs to be enormous in order to do this successfully. Knowing HTML5 isn’t enough. You’ll need to understand java and CSS, and you’ll also be expected to understand SEO and perhaps even graphic design, too. That’s a lot of expensive skills to learn – and yet with so many rivals in the market, you’ll have to cut your prices in order to attract customers. This is a profession with ever-tightening profit margins, and it’s best to avoid it altogether.

Clothes Store

A few years ago, you’d see the name ‘Zara’ on every high street in the world. In June 2020, Zara announced that 1200 of its outlets would be closing down permanently. That was hot on the heels of Warehouse and Oasis, both of which closed down permanently two months earlier. Consumers are no longer buying their clothes in person. They order them online, try them on when they arrive and return them free of charge through the post if they don’t like them, or they don’t fit. There’s still something to be said for seeing clothes with your own eyes and trying them on in-store, but seemingly not enough to keep clothing stores open. There might be an exception to this rule if you’re considering opening, for example, a vintage clothing store or something else that would appeal to a niche market, but the days where you could make a good living by selling clothes over the counter are long gone.

Electronics Repair Store

This is a very tempting professional to get involved in if you’re technically minded. If you’re the person that your friends and family always turn to when their computer, telephone, refrigerator, toaster, or other electrical items break down, it’s probably already crossed your mind that you could charge other people for access to your skills. Thirty years ago, you’d be right, and you’d find yourself in high demand. Here in 2020, your skills are no longer required. Electronics get cheaper by the day, and they’re covered by longer and more comprehensive guarantees and insurance policies. When an electronic appliance breaks, people are more inclined to return it to the store they bought it from or throw it away than they are to pay someone else to repair it for them. You’ll always be a savior around your home when something goes wrong, but sadly it’s unlikely you’ll ever be able to make a career out of your practical skills.

We could go on, but instead of doing so, we’ll offer an alternative piece of advice. Focus on the internet. The most reliable, dependable trend we’ve seen in the past twenty years is that more and more people are going online and buying products and services through the internet. If you’re considering setting up a new business of any kind, do it through the internet. You’ll save on overheads, you’ll save yourself an enormous amount of start-up costs, and you’ll also have less mess to extract yourself from if it all goes wrong!

 

At O’Brien Murphy Solicitors, we’re constantly helping women understand their maternity leave rights. Here’s some of the most frequently asked questions that we receive:

How long is maternity leave in Ireland?

In Ireland, women are entitled to 26 weeks paid maternity leave. Employees can also opt to take an additional 16 weeks unpaid maternity leave.

When can an employee take maternity leave?

An employee decides when they want to take maternity leave. The only stipulation is that an employee must:

1. take at least two weeks leave before the end of the week that the baby is due; and
2. take four weeks’ leave after the baby is born.

If an employee has less than 4 weeks maternity leave left when their baby is born (this may arise if they have a late birth), then they are entitled to have their maternity leave extended for up to four weeks. This does not affect their entitlement to take additional unpaid maternity leave.

What notice do employees have to give to their employer?

An employee is obliged to inform their employer that they intend on taking maternity leave. This notice must be given in writing and at least 4 weeks before the employee intends on taking maternity leave. Employees should also provide their employer with a medical certificate confirming their pregnancy. This certificate should state the week that the baby is due. If a woman wishes to avail of the additional 16 weeks unpaid maternity leave, she should notify her employer as soon as possible but again not less than 4 weeks before her expected date of return to work.

Are employees entitled to time off for antenatal and post-natal medical appointments?

Yes. In addition to maternity leave, women are entitled to paid time off for antenatal and post-natal care. This includes medical appointments, examinations and tests relating to her pregnancy or the birth of the child. Employees are also entitled to paid time off to attend antenatal classes. Employers are not entitled to treat such absences as part of an employee’s other leave including sick leave or annual leave.

Employees are required to notify their employer in writing of any antenatal and post-natal appointments at least 2 weeks beforehand. If, for any reason, an employee is not in a position to give this notice (e.g. they were required to attend an unscheduled antenatal or post-natal medical appointment), they should provide their employer with proof that they attended the appointment and the reason why they could not give notice.

Are employees entitled to time off for breastfeeding?

Yes. Women who are breastfeeding are entitled to paid time off to breastfeed, or reduced working hours (without loss of pay) to facilitate breastfeeding outside the workplace. Employers are entitled to decide which option is most suitable. In both cases, an employee is entitled to one hour off work each day as a breastfeeding break. This is in addition to other time off (e.g. lunch breaks). An employee is entitled to full pay for this hour.

Are employees entitled to full pay during maternity leave?

No. Although many do, an employer is not obliged to pay employees who are on maternity leave. However, if an entitlement to pay during maternity leave is stipulated in a contract of employment, then that obligation must be met. Instead, women on maternity leave are entitled to social welfare benefits so long as they have the necessary PRSI contributions. Please visit mywelfare.ie for the most up-to-date maternity leave social welfare payment amounts.

Does maternity leave effect annual leave?

No. Being on maternity leave does not affect one’s employment rights and, apart from remuneration, employees must be treated as if they were still there. This means that an employee’s annual leave will build up as normal. Employee’s must also be compensated for any public holidays that fall whilst they are on maternity leave – in the form of an extra day’s pay or an extra day’s annual leave.

Is an employee’s job safe whilst on maternity leave?

Yes. An employee has the right to return to work after maternity leave under the same terms and conditions as they had before. They are also entitled to any improvements in those terms and conditions that they would have received if they had not been absent.

Employees also have the right to return to the same position and job that they had before they left for maternity leave. If this is not possible or practical, an employer must offer a suitable alternative. Any suitable alternative must be of the same kind of work and one that that is appropriate for the employee to do under the circumstances.

Can an employer dismiss an employee during maternity leave?

Yes. However any such dismissal cannot be as a result of the employee’s pregnancy, attendance at antenatal classes, giving birth, breastfeeding, or any pregnancy-related matters. If there is any suspicion or if a woman feels that they are being discriminated against because of their pregnancy, they can bring a claim of unfair or constructive dismissal. Anyone in such a position should contact a solicitor as soon as possible.

 

Selecting the appropriate attire for your workplace is undoubtedly one of the most critical moments in the day. The choice you make, whether dictated by workplace policy or not, is bound to have a significant impact on the rest of your day at work. Research has shown that 55% of companies have a dress code policy. Whereas most companies cover this policy in the new employee orientation program, it might be a good idea to contact the human resources department for clarifications on what is acceptable

For instance, some companies may indicate that semi-casual dress is allowed at work. Yet, upon enquiring from the human resources office, you realize that wearing jewelry to work is only permitted under certain conditions. In this article, we will look at the different categories of corporate dress code, with great tips on how to always look sharp and appropriate in your daily choice of office attire.

Types of Dress Codes

Corporate dress code falls into four categories. These are business casual, business formal, casual, and business professional. The detailed sections on each of the categories will help you choose the most appropriate attire for work.

Business Formal Attire

If your line of work involves regular meetings with business executives, or you work in highly formal professions, you might be required to adhere to the formal business attire. Also known as boardroom attire, this category is considered the highest level of professional dress code.

Business Formal Attire for Men

Men should maintain a classy, not too shouting look, with neutral-colored, tailored suits preferred. These suits should be worn with button-up white shirts, and good quality, modest colored ties. The choice of shoes is crucial, and you should go for formal shoe designs such as closed-toe oxfords over casual designs such as loafers. Keep your hair well-groomed, preferably short, or where HR approves, long hair should be neatly tied back. The fingernails should also be neatly trimmed and where possible, well-manicured.

Business Formal Attire for Women

For women, a high-end pantsuit or skirt suit in a neutral color such as gray, black, or navy is recommended. The shirt should be white, button-up, and you should go for closed-toe, high heeled shoes in modest color. Choose modest accessories such as studs and pearl necklaces rather than chandelier earrings and large, multi-colored necklaces.

Away from the boardroom attire, the other categories of business attire offer more flexibility. With clarifications from HR, you should be able to look presentable without going overboard. However, being modest with colors, and dress-fit, with a touch of class, wins in every category.
Tattoos and piercings are bound to affect your dress code in every kind of office setting. Unless categorically allowed by HR, facial piercings are best removed for work, except for women’s earrings. Tattoos are best concealed during office hours unless the office setting is casual. Some nice tips for concealing your tattoos at work include selecting clothes that adequately cover the tattoos, and where the tattoos are on the neck, wearing a scarf to cover them. It is important to be clear with HR about your tattoos to ensure they don’t cause issues with your dress code.

 

Digital marketing and media companies are in a very small collection of companies who will have, in the main, done well throughout the global pandemic. Mark Zamuner, CEO of the growth consultancy company Two Nil has spoken about not only the opportunity that this presented for the world of media marketing, but also about how the global impact of this pandemic has greatly altered the face of the industry.

Marketing and media agencies have not only had to react to the market conditions but also the behaviors of the consumer, which has been changing on a weekly basis. In just a few short months this is how the industry has altered.

Focus

There has been a renewed focus on areas of marketing such as gaming and television, both of which has seen a rapid rise in popularity. Owing to the financial difficulties of many companies we have also seen a shift away from brand growth and increasing the awareness and visibility of a business, and instead a heightened focused on the quick buck, a fast sale that will help the company keep its head above water in an increasingly tough economic climate.

Sensitivity

This year is becoming an absolute minefield for creatives in the industry as we are going through a stage where just about anything you say could be potentially construed as being wrong or missing the point, such is the PC brigade on social media. Any risks which advertisers may have once taken are completely off the table at the moment and it is a time for staying as safe as possible and looking to make hay whilst the digital sun is shining.

Pitches

The challenge which marketeers have on their hands is that there is a wonderful opportunity for businesses to do well, but they are trying to balance the books in a worsening financial climate, leaving little by way of a marketing budget. Unfortunately for many media companies, finding new customers and landing pitches is made trickier because of the restriction around logistics which we have under quarantine conditions. Meetings through video chats and the level of invention which ad agencies in particular have to display to win pitches is higher than ever before and creative teams are having to dig incredibly deep for fresh ideas that will work.

Spending

 

Media and marketing companies have had to significantly cut back on spending and this again is something which has meant that the agencies have had to be much cannier with the way that they spend money. Ad spending is down 9% across Europe, an enormous swing from where we were just 5 months ago, when spending was actually on the rise ahead of the end of the financial year. Whilst it is true that offices are able to save money on running costs, there is still a very clear reduction in spending when it comes to advertising and on the type of ads which are being invested in.

Many of the changes which we are seeing now will be reversed post-pandemic, but there will be a lot that remains the same.

 

There are many ways in which you can raise funds for your business and almost all of them will require you to sit in a meeting and to convince someone why they should give you or loan you the funds for your business. A good friend of mine works for the lending company Sertant Capital, who specialize in lending money for equipment, and he has told me some terrible tales about people who are not prepared or worse, and they of course have ended up walking away without any money in their pocket, the last thing that any young business needs.

In reality the requirements are very simple in terms of what you need, and if you have a fundraising meeting then here is what you should be looking to provide.

Spending

The amount of money which you ask for should be based on the amount of money that you need and to figure this out, you must know what you are going to be spending that money on. This may sound very simple but there is a huge number of people who go into meetings like this without being able to give an accurate and detailed description of where the money is going. You cannot just say that you are going to allocate $5,000 to marketing for example, you need to talk about how, where and why. It is not out of the way for someone giving you money to wish to know how it will be spent.

Projections

Another key question here is going to be who will you be able to pay the lender back? Yet again a reasonable question to ask. In order to answer this well you need to understand the projections of your company over the next 5 years and the next 10 years. This is a key part of what you are trying to convince the lender of, because they want to know that their money is safe and that it is going to be coming back to them at some point. The last thing that anyone wants is to give or lend money to a business which won’t make it.

Negotiation

When it comes to negotiating repayment schedules, interest rates and the like, it will be vitally important for you that you have a clear understanding of what is a reasonable offer. This means that you have to get some advice beforehand, because if you are asking for something which is too high or which is laughable, ,then it will make you look unprofessional and that could seriously affect your chances of getting the funds which you are looking for.

Ultimately the key is to come prepared with your facts and your figures, you have to know everything about your business and you should also have a very clear idea of why you need the money and what exactly you will be using it for. Prepare and plan well if you truly want those funds.

In the age of the internet, we don’t think anyone had their income levels speculated on more than the Swedish king of Youtube PewDiePie. Is it our business at the end of the day? No! Do we still need to know? Yes!

Taking the help of the Youtube analytics tool, we observe 70,000 people are searching for this very question every day, at the time of writing.

In this post, we would be giving an honest perspective on the business model PewDiePie merchandise hoodies runs and how much revenue this could be generating?

To estimate how much PewDiePie really makes we must first look at the different streams of income he has. We estimate the earning he generates in each of these and add them together to get the total.

Google Adsense

The first thing is the AdSense which is the amount of money paid for views on his videos. To generate an estimate we need two things – How much views PewDiePie gets in a month and his CPM which is the amount he is paid by Google for thousand views after they take their slice.

Using Tubebuddy, we observed that over the last 90 days PewDiePie has received 1.6 billion views which would give him average views per month for that period of 533 million. The CPM is going to be hard to nail down but we feel like giving an accurate estimate. We predict that PewDiePie CPM would average out somewhere in the 2.00 – 4.00 USD range.

Based on this calculation, the PewDiePie is making nearky $1.6 million from ads alone.

Merchandise

PewDiePie’s next revenue stream is merchandise. He has two lines of merchandise – one with the collab with his wife’s the Tsuki collection and the other which is sold through represant.com.

We all know PewDiePie’s clothes sell so well because they go beyond typical Youtube merchandise. He has adopted more of a traditional clothing line appraoch especially with Tsuki. You’re not buying because of who is selling it. They are high quality and fashionable clothes.

With a help of tool called Sellfy.com, they uses daya from several thousand YouTubers who use e-commerce products to sell products on Youtube. Using this tool we estimated that PewDiePie makes $2.75 million in revenue from his merchandise each month.

This may seem like an insane amount but the truth is most big YouTubers make more of their products than they do more Adsense. Merchandise is also more of a secure way of generating income for Youtubers as it protects them from the demonetisation of ad revenue.

Affiliate Marketing 

PewDiePie’s third and the final source of his income from live streaming games that he makes through affiliate marketing and brand deals. This is probably the hardest source of income to estimate.

PewDiePie lifestyle does regular brand deals with huge companies such as G-Fuel, North VPN, and the streaming platform D-live. He typically received a fee at an affiliate link which will generate him money passively.

Judging by how much money we have seen offered to other YouTubers for similar brand deals, they are worth over a 100,000 USD each for PewDiePie.

He also has the affiliate links in the description of all his videos where he links his gear and other products. When someone clicks on this, if they buy anything at all, PewDiePie gets a commission.

Our estimate says that PewDiePie makes around $500,000 a month through this income stream.

How much does PewDiePie make after combining everything?

And now for the moment of truth, adding these three income streams together, we get a monthly total of $4.85 million which would give PewDiePie an estimated yearly income of $58.2 million before taxes and other expenses.

Do you think PewDiePie deserves this level of income? Let us know in the comment section below.

 

If you have been brave and have taken the plunge of starting up a new business, well done! If you are just considering whether you would like to start up a business, that is also ok. The point is every single business owner needs to participate in marketing activities in order to help spread a company’s name and to display the products or services they sell. This article is based upon how entrepreneurs or aspiring entrepreneurs can use digital marketing to help build a brand’s name, to help draw a wider audience to a webpage and to eventually generate happy and loyal customers, which will lead to profits being made.

Step one: Design a website

Design a website! There are plenty of website designing tools available to help. A favourite of mine is to use Microsoft Front Page, as the format is very similar to Microsoft word, so it is a very easy and efficient tool to use. It is also important to consider the colour scheme and font you will use, and it is just as important to keep the same colour scheme through the company’s branding as this what make an organisation look professional, trustworthy and memorable.

Step two: utilise email marketing

It is an important strategy for attracting your target audience to your start-up. It may seem difficult to collect email addresses from potential customers, so you must look to first collecting prospects mail addresses. You may do this by including in your website, you may consider placing a sign-up form. Make sure you are aware that if you bombard your email list with advertisements, your customers may unsubscribe which therefore defeats the object of using email marketing. Whereas if you produce relevant, insightful content you effectively have a better chance to generate interest and engagement from genuine customers.

Step three: consider using SEO

SEO is the practice of increasing the quantity and quality of traffic to your website through organic search engine results, opposed to using paid advertisements. SEO is a relatively new concept and many business owners are not usually familiar with these terms. Therefore, it may be of benefit to seek some professional help. Mechanised, a Manchester SEO agency, is a perfect example of an agency who helps those with every single aspect of SEO.

Step four: use social media marketing (it’s easy!)

It’s vital to incorporate the use of social media platforms into your start-up’s strategic marketing strategy. Most people already use social media for personal use, so why not link your personal account to a brand new professional page. Use your followers you already have from your personal account and convince them to follow your professional page, you will not get hundreds of followers this way, but it is a good start. It is important to have a social media account for your company as people often use social media to look at brands and they are easily influenced by the types of products and services they view on social media.

Step five: explore content marketing

Content marketing is an efficient tool to use to help give your company a greater online presence. The use of pictures, blog articles and distributing content in order to promote a brand or business. If content marketing isn’t for you, you can employ a professional content writer to help distribute your company name.

Step six: start your own blog

However, if you are into writing and you don’t mind frequently creating blog posts about your company, products or services. Then blogging is a great digital marketing method, which is free, and blogs can draw in wide audiences, which will therefore give your start up business brilliant coverage.

Step seven: sponsoring and attending events (networking)

If you decide to sponsor an event which is based locally to you, you could help to get your start-up wide local coverage. Although you need to consider that you would need to pay a fee to the organisers of the event, but you would also have a place to promote your business with banners and other marketing materials in return. If you are not willing sponsor an event (which is fine, because it may be daunting for someone who has just opened up a new business to do so), you can always attend and use this opportunity to do networking. Face-to-face communication is usually beneficial when contracting services or buying products. You never know how far your start-up’s name will go.

 

Truck accidents happen more time than you realize. It doesn’t look pretty when truck rams on a small vehicle. In most cases, the driver of a small vehicle is at fault. Car drivers often jump into the alleyway with trucks, not knowing how close they are to the truck. However, an accident with a truck is not always the fault of the car driver. If he explains your accident, you probably need a truck accident lawyer.

Reasons for consulting a lawyer

1. A truck driver chases you off the road and stops your car. You definitely need help to pay for repairs or get a new car. If the truck driver is insured, he can take care of your expenses. Even if he has insurance, you can still contact a lawyer. The truck driver’s insurance company can give you the money you really deserve. If the truck driver is not insured, you need a lawyer to sue the driver for damages.

2. A truck driver crashes your car and you are seriously injured. Injuries can cause all kinds of problems. You may lose your job, lose your ability to work, or suffer traumatic and lasting losses. In this case, you can make a claim despite the insurance involvement. It is true that your insurance should cover your medical expenses.

Truck driver insurance can also cover your automobile and your medical risks. However, if none of you have insurance? You should contact a lawyer for sure. You need to get the best help.

3. The truck driver is suing you but it is not your fault. This is the simple case of your word against the truck driver. You need a lawyer to help you navigate the mine. Witnesses and police officers can be contacted in this type of case. All of this is a little dirty before the end. However, if you are really innocent, you have no reason to worry.

Zehl & Associates, a houston 18 wheeler accident lawyer, takes these types of lawsuits on contingency, which means there are no charges in state and federal courts if damages are not recovered through negotiations or lawsuits.

If you are lucky, you will never have to face these situations. However, if the worst happens at least then you know what to do. Contact a truck accident lawyer for assistance as soon as possible. Ask for recommendations from family and friends. Find a lawyer you can trust and someone you feel comfortable with.

Well trained truck accident lawyers

We have developed a reputation throughout Texas for paying attention to the facts of the truck accident case and including:

• Vehicle Defect
• Hazardous road surfaces
• Poor road design
• Management

Houston, Texas Big Rig drivers and trucking companies must follow strict state and federal guidelines for safe handling of these heavy vehicles. In the event of a reckless accident, you have legal rights that must be protected against injury, plan long-term care, and pay medical bills. Large-scale truck accident litigation against a large corporation or insurance company is expensive and complicated, requiring legal and financial resources beyond many.

 

Installing electric vehicle charging stations in the workplace is an excellent move towards environmental sustainability. Since the UK government gives incentives to buying electric cars, it makes financial sense for companies to consider this investment. And when employees can conveniently charge in the workplace, they feel more confident in buying electric cars. Moreover, workplace charging stations benefit the business as it can also be used for fleet and company cars.

In addition to complying with the requirements to qualify for the OLEV scheme, https://power-ev.co.uk suggests thinking about other considerations before moving forward with the installation.

Is the business moving toward long-term EV use?

There’s no going around this move because petrol and diesel cars will be banned by 2035. Big companies that maintain a fleet of vehicles need to seriously consider having dedicated charging stations for these cars. Additionally, more employees will start using electric cars in the coming years before the ultimate ban.

How much does it cost to install charging stations?

For home and workplace charging, you either use a level 1 or level 2 charging station. Level 1 chargers only add a 40 km driving range after 6 hours of charging. For the same driving range, it will only take a level 2 charger two hours to complete. However, costs significantly increase from level 1 to level 2 charger installations. On average, one workplace charging station costs up to £1,500. The government grant takes off £350 from the cost, which is still a substantial amount, overall.

Other expenses on top of charger hardware and installation

In addition to installation cost and hardware, other expenses could add up. For instance, you may need to cut through concrete, add new electric connections, and construct solid mounts for a charging pedestal. Moreover, businesses may need to secure building permits before they can proceed with construction.

One way to reduce the expense is to choose the most suitable location for the charging stations. Look for space where there’s sufficient power supply. For off-street parking spaces, it would help if there are grassy spots for easier trenching. Existing infrastructure for mounting or hanging cables can also significantly bring down the installation cost.

Additional recommendations

Apart from the considerations mentioned, it’s also critical to assess the current and emerging needs of the organisation. How much charging capacity is required to supply for employees charging their cars as well as company cars on standby?

How about visitors? Will there be dedicated charging points for guests driving electric cars? To maximise the investment, it’s also essential to come up with guidelines on proper “shared” use. These policies will not only prevent mishaps but also ensure safety.

Lastly, make sure to analyse the overall cost versus ROI, especially since there are tax rebates and other benefits associated with EV use. Investing in workplace charging stations now will anticipate the expected demand in EV use. In the long run, it helps prepare the company for further policy changes related to promoting electric car use in the country.