We worked on business planning for three or four weeks – spreadsheets, budgets and so on – which he does very well. To help me do that, they introduced me to Lawrence.He came along and we chatted about the plan. They were interested and asked me to put it into a detailed business plan. I contacted a finance company I had used for small-scale commercial leasing. Martin Prescott

Martin Prescott
Lawrence came to me through a finance company.

I came up with the idea for a business based around the Government’s home computing initiative.I wasn’t too clear on what I needed to get it going, other than perhaps a little bit of funding. You should take a look at the Queen’s Awards for Enterprise website ( .uk) since there is a category for international trade. You don’t have to be a large company – the award is judged on growth of sales at levels that are outstanding for the size of the applicant’s operations.Q. I am just about to set up a new company and would like to use the word “Olympic” as part of the business name but I’ve been told that would not be allowed Is that right?A. The word “Olympic” would require the approval of The British Olympic Association before applying to Companies House.

Further information about business names may be found in document GBF3 at Call them on 0870 333 3636.Q. My husband and I would like to sell our small business and retire. Could you recommend some basic information about what is involved please?A. The Business Link website ( ) has useful articles about selling your business, the associated tax implications and your responsibilities to employees. If the proposed sale is likely to be to other family members, then take a look at the “Keeping it in the family” document available from the accounting body ACCA’s website ( ).QUESTIONS PLEASESend your questions to Prof Russell Smith at ios businessboffins Selected questions will be answered each month. My small business is doing well but most sales come from overseas Can you suggest a way of raising our profile at home?A.