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For a successful business, you need a viable business idea, the skills to make it work and the funding. Discover whether your idea has what it takes.

Forming your business correctly is essential to ensure you are protected and you comply with the rules. Learn how to set up your business.

Advice on protecting your wellbeing, self-confidence and mental health from the pressures of starting and running a business.

Learn why business planning is an essential exercise if your business is to start and grow successfully, attract funding or target new markets.

It is likely you will need funding to start your business unless you have your own money. Discover some of the main sources of start up funding.

Businesses and individuals must account for and pay various taxes. Understand your tax obligations and how to file, account and pay any taxes you owe.

Businesses are required to comply with a wide range of business laws. We introduce the main rules and regulations you must comply with.

Marketing matters. It drives sales and helps promote your brand and products. Discover how to market your business and reach your target customers.

Some businesses need a high street location whilst others can be run from home. Understand the key factors from cost to location, size to security.

Your employees can your biggest asset. They can also be your biggest challenge. We explain how to recruitment and manage staff successfully.

It is likely your business could not function without some form of IT. Learn how to specify, buy, maintain and secure your business IT.

Few businesses manage the leap from start up to high-growth business. Learn what it takes to scale up and take your business to the next level.

Conducting a performance appraisal - checklist

Not sure how to support your employees' development with regular performance reviews? Our checklist tells you how to carry out an appraisal.

  • Schedule regular appraisals for each employee. Aim for at least once a year, but ideally quarterly.
  • Ask the employee to prepare for the review by completing a self-assessment covering performance, skills, attitude and any problems.
  • Prepare yourself by reviewing the employee's self-assessment, your notes on the previous appraisal and the employee's performance since then.
  • Review the employee's job description, to check that the duties and responsibilities are up to date.
  • If appropriate, speak to the employee's subordinates, colleagues, superiors and customers (known as 360-degree feedback), to obtain factual feedback on performance.
  • Identify the main areas for development and what you want the appraisal to achieve. Be prepared to back up any criticism with facts and examples.
  • Think about potential work and training opportunities for the employee.
  • Take into account the personality and temperament of each employee. Different approaches to giving feedback may be needed for each individual.
  • Always schedule more time for the meeting than you think you will need, to avoid having to cut a discussion short.
  • Start the appraisal meeting by explaining its purpose and agenda; try to put the employee at ease and set a positive tone.
  • Ask the employee to talk you through the self-assessment; listen, and encourage the employee to talk.
  • Make your own comments; ensure that all previously agreed objectives, and any areas which concern you, have been covered.
  • Acknowledge achievements and hard work.
  • Discuss poor performance where necessary – but avoid personal criticism.
  • Encourage the employee to identify the causes of any problems and to suggest potential solutions.
  • Discuss the employee's long-term career plans and aspirations.
  • Identify any training needs.
  • Agree specific, realistic and measurable key objectives for the next period; ensure that the employee is committed to them.
  • Write up the performance appraisal report and confirm that the employee agrees with what you have said.
  • Continue to monitor performance against objectives.
  • Be prepared to deal with problems when they occur, rather than waiting for the next appraisal meeting.
  • Always remember, appraisals are a two-way process.

In recent years many businesses have dropped annual (or quarterly) appraisals in favour of 'continuous conversations'. Whichever approach you take, doing it well requires skill and care.