HSBC’s Knowledge Centre helps put your business on the right track

Faced with this, potential entrepreneurs can give up on their idea before they have even started.

HSBC Bank Malta has recently launched the Knowledge Centre, a free online resource targeting entrepreneurs, managers and business owners, offering practical help for individuals wanting to start new ventures and help businesses in their day-to-day running.

The Knowledge Centre provides a free and user-friendly check list for business owners. It invites them to honestly appraise their strengths and weaknesses and analyse whether they have the skills and determination required, as well as the support they need to achieve their goals.

HSBC’s Knowledge Centre provides hands-on information on how to write a business plan and how to research the market – two useful tools which are vital for any organisation to achieve its goals, aims and objectives.

Office premises can help improve productivity, attract and retain employees, and give a positive impression to customers. The Knowledge Centre provides articles which can help people determine where to set up their firm, the size and the type of the office, the different types of tenure and the costs and factors involved in the search process.

Sales are one of the biggest hurdles most start-up businesses face. It can make or break a firm.  The Knowledge Centre offers tips on how one can go about adopting different sales strategies.

One of the most daunting areas for business owners is finance. Whatever the area of expertise, every entrepreneur needs to understand the basics of financial management in order to make informed decisions regarding the company’s performance and strategy.

HSBC’s Knowledge Centre offers practical information on items such as profit-and-loss accounting, the balance sheet, cashflow statements, profitability and budgeting. For those who would like to delve deeper into the subject, the Centre offers tips on simple book-keeping and even advice on how to select an accountant.

Every business recognises the need to recruit employees who will best complement the firm’s ethos and culture. Every business needs to have people with the right skills and the right attitudes. The Knowledge Centre offers practical information on how to decide who the right person is and how to attract the right applicants as well as how to interview the best candidates and how to subsequently manage and motivate employees.

Many believe that marketing is just another term for advertising. Whilst advertising plays an important part in promoting a business, marketing also involves getting the right product and service to the customer and ensuring they know about it. An understanding of good marketing practice is essential to a successful start-up.

Marketing draws together the key elements of the market and the business. The Knowledge Centre’s briefing covers topics such as the key rules of marketing, building a marketing plan, measuring the effectiveness of the marketing strategy and keeping ahead of the competition.

“Sound and reliable advice is a necessary tool for business owners. HSBC Bank Malta, with its trained experts and international expertise, is well positioned to offer such advice to prospective business owners and enterprises. The Knowledge Centre is our way of offering more practical and readily available information to enterprises,” said Michel Cordina, HSBC’s Head of Commercial Banking.

The Knowledge Centre’s management and start-up briefings and checklists are provided by BHP Information Solutions (BHP) – a network of 400 leading experts providing independent information of premium quality.