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The 10 best universities to study business

Think you could be the next Mark Zuckerberg? If you have a mind for innovation and business, you might benefit from a degree at one of the finest business schools in the UK.

Most business courses give students a thorough understanding of business theory, economics, entrepreneurship, accounting, management and business law.

As such a diverse degree course, Business Management can open doors to a multitude of careers. Upon graduation, you could find a job as a business adviser, a data analyst, investment banker, human resources officer, stockbroker or even join the team of a new start-up.

Here, we have compiled a list of the best business degree courses in the UK, including information on entry requirements, course details and the most advantageous features. The following are the 10 best universities to study Business & Management, according to the latest 2020 league table from Complete University Guide, which ranks universities according to their entry standards, student satisfaction, research quality and graduate prospects.

10. University of Lancaster

The course: The Business Management BSc incorporates modules from every department within the Management School. In first year, all students cover accounting, marketing, management and business analysis. In second year, you expand on this knowledge and study operations management, economics and entrepreneurship, including modules in management decision making and spreadsheet modelling. There are optional modules in further economics, marketing and entrepreneurship, which you take into your third and final year. You juggle these subjects with a core module on strategic management.

Biggest advantage: All students have access to a Business Management Careers Coach, who will run sessions on CVs and the skills that you will need in the workplace.

9. Durham University

The course: In the first year of the Business and Management BA, you develop a business plan for a start-up and take optional modules in business, economics or a language. In second year, you further develop your investigative and business skills and take modules on information systems and the management of operations, as well as optional modules in accounting, entrepreneurship, marketing and business law. In your final year, you focus on a double-weighted dissertation and a core module in strategic management, as well as optional modules.

Biggest advantage: Students can take the Year Abroad or a Year In Industry programme, either of which could boost your employment prospects.

8. University of Warwick

The course: On the first year of the Management BSc course, you study the basics of business management – including economics, marketing, financial management, strategy, organisations and business analytics. In second year, there are electives to choose from, alongside core modules in international business, operations management and entrepreneurship. In third year, you have the option to take a Year In Industry. Alternatively, you can go straight into your final year, where you will study critical issues in management and a range of optional modules.

Biggest advantage: This course is flexible, and you can specialise in specific areas (such as finance or marketing) in your final two years. Modules are varied and include marketing, auditing, supply chain management, business law, risk management and team leadership.

7. University of Strathclyde

The course: In the first three years of the the Management BA, you take classes in business alongside the Management Development Programme (MDP). In the first year of the MDP, you focus on theory, including disruptive technologies, business ethics and creativity and responsibility. You also take a module called Managing in a Global Context. In the second year of the MDP, you study global business, the Third Sector, oratory and more. You also take modules in strategy, analysis and change within organisations. In third year, you undertake a work placement, complete the final year of the MDP and take core modules in management practice. In the fourth year, students cover management, the global economy, strategy and ethical leadership.

Biggest advantage: On the third year of the MDP, there are four options for how you can put your knowledge into practice. You can take an internship, work on two live consultancy projects, go on an international exchange, or conduct problem-solving projects with other students.

6. University of Leeds

The course: On the first year of the Business Management MA, you cover economics, accounting and organisational behaviour. You also take the Exploring Your Potential module, where you assess your own managerial skills. In second year, you study the basics of marketing and managing people and operations, develop your research and analytical skills and learn to consider social responsibility. In your third year, you further develop your management skills in modules on strategic management and leadership, and you can take optional modules in employment law, technology, international business and advertising. There is also a dissertation on a topic of your choice.

Biggest advantage: There’s a real emphasis on developing leadership qualities on this course, with modules on strategic leadership and management. In addition, if you choose (and pass) the Contemporary Management Consulting module in your third year, you can register with the Chartered Management Institute (CMI) and gain the CMI Level 5 Certificate in Professional Consulting.

5. King’s College London

The course: The Business Management BSc at King’s College London is a comprehensive course. In your first year, there are 12 core modules, covering economics, financial reporting, business ethics, accounting and marketing. In second year, you are taught research methods, international business, strategic management and take optional modules. There is also the option to study abroad either in the first term of second year or for the entire academic year. In third year, there are no core modules so you can choose specialisms, including employment law, leadership, banking and managerial economics.

Biggest advantage: Located in the heart of London, King’s Business School is close to the Square Mile (the hub of international commerce and finance) and a few tube stops away from Canary Wharf.

4. University of Loughborough

The course: In the first and second years of the BSc Management degree you are introduced to the core business and management topics, including business economics, financial reporting, marketing, human resource management, accounting, data analysis, business ethics and operations management. There are also optional modules. In your third year, you can either study abroad or take a work placement. In your fourth and final year, you study three core modules on decision-making, leadership and global strategy, and select optional modules.

Biggest advantage: If you go on a Year Abroad or work placement in your third year, you receive an extra qualification: a Diploma in Professional Studies (DPS) if you do a work placement or a Diploma in International Studies (DIntS) if you study abroad. Alternatively, you can split your third year and spend six months studying abroad and six months on a work placement.

3. University of Exeter

The course: In the first year of the Business and Management BSc, you mainly cover the theory of business management, with classes on accounting, statistics, economics, marketing, management and the relationship between business and society. In the second year, you take core modules in accounting, human resource management, consumer behaviour, operations management and organisations. There are more optional modules in second year than first, but even more to choose from in your third and final year of study. In final year, there are just two core modules, covering finance and strategic management.

Biggest advantage: There is an optional Year Abroad or Year in Industry work placement.

2. University of Bath

The course: In the first year of the Management BSc, you get to grips with the basics of business management – including accounting, business economics, international business, management, finance and marketing. In second year, you study more specific topics, such as business law, consumer psychology, entrepreneurship and managing a multinational enterprise. There are optional modules in both second and third year, covering E-business, corporate responsibility, UK tax and conducting business in China, to name a few. In third year you also study international strategy and complete an entrepreneurship project.

Biggest advantage: The entrepreneurship project in your final year allows you to apply your knowledge to a practical assignment. This module requires teamwork, identifying a suitable gap in the market and planning how you would build your own business.

1. University of St Andrews

The course: During the first two years of this four-year course, you will take Management modules alongside at least one other subject. Typical Management topics include the role of managers within organisations and the role of organisations within society. In your final two years you can take more optional modules, including (bit not limited to): advertising, corporate social responsibility, entrepreneurship, human resource management, sustainable development and international banking.

Biggest advantage: This flexible course will make you more of an all-rounder as you are required to study two additional subjects in your first year and at least one in your second year. This could give you the chance to develop your languages skills, for instance.

Boris Johnson moves to mend relationship with UK business

Prime Minister Boris Johnson has moved to rebuild his relationship with the business community by hiring Sky executive Andrew Griffiths as part of his Number 10 team.

A source close to Griffiths said Johnson’s appointment of the Sky veteran – who most recently served as the broadcasting giant’s chief operating officer – was “a clear sign of intent” that the former mayor of London wants to build fresh links with the City and businesses across the UK.

Advisory Excellence understands that Griffiths, who joins the new government as Johnson’s top business adviser, first discussed the position with the incoming PM to weeks ago and felt that the new Tory leader “was the real deal.”

One source said Griffiths is “an operator, not a policy wonk” and he “will want to get things done.” Sources in Johnson’s camp have told Advisory Excellence that there will be a “beefing-up” of the Downing Street business team but it’s understood that Theresa May’s business adviser, Jimmy McLoughlin, will be staying on to assist with the transition.

Johnson ruptured his business-friendly reputation following the EU referendum when he was caught saying “f*** business” in reaction to corporate groups lobbying for a softer Brexit.

However, the relationship may already be thawing with most business groups giving a cautious welcome to the incoming resident of Number 10 yesterday.

TheCityUK congratulated Johnson on his convincing win but warned against a no-deal outcome with Brussels.“He becomes Prime Minister at a pivotal time in our country’s history.

He must now move swiftly to set out his plans for the road ahead. Ongoing Brexit uncertainty is depressing business activity, but the financial and related professional services industry remains very clear that a no-deal Brexit is still the worst of all outcomes,” it said..

The British Chamber of Commerce was also quick to send its regards, but again warned about the consequences of crashing out of the bloc. The message to Boris Johnson from business communities around the UK couldn’t be simpler: the time for campaigning is over — and we need you to get down to business.

Companies need to know, in concrete terms, what your government will do to avoid a messy, disorderly Brexit on 31 October – which would bring pain to communities across the UK and disruption to our trade around the world.

Business lobby group the CBI echoed other calls for a pro-business Brexit deal, but also on support for infrastructure projects to boost businesses across the country.

Johnson has previously voiced opposition two of the country’s most ambitious infrastructure projects: Heathrow airport expansion and the High Speed 2 (HS2) rail project.

An HS2 Ltd Spokesperson said: “We look forward to working with the new Prime Minister to ensure that HS2 will transform the British economy and is value for money for the taxpayer”.

Meanwhile, Heathrow boss John Holland-Kaye said the airport’s third runway, which Johnson opposed, will be “a critical part of any new prime minister’s agenda”.

“As we leave the EU we’re going to need to have the trading links that only Heathrow can bring and that is why we are cracking on with it.”

The pound dropped to $1.247, after the membership ballot result naming Johnson as leader was announced. As Michael Brown, senior analyst at Caxton FX explains, this was largely due to the fact that the likelihood of Johnson victory had already been priced in.

“With such an outcome having been largely expected, sterling’s immediate reaction has been muted as the news was already priced in,” he said. “However, focus will quickly switch to the next steps – namely, Cabinet appointments and the Brexit plan. The latter will be of more importance for markets, with sterling set to remain under pressure should Boris continue his ‘do or die’ Halloween Brexit stance.”

In the run-up to the announcement a number of businesses had been nervous about the prospect of a Johnson premiership, due to the former London mayor’s insistence that he would take the UK out of the EU with or without a deal by the 31 October.

How can economic substance rules impact business in the UAE?

There is a multitude of companies in the UAE that are owned by entities incorporated in “no or only nominal tax” jurisdictions (referred to herein as “noons”) such as the British Virgin Islands (BVI), Cayman Islands, Isle of Man, Jersey, Guernsey, Mauritius, Bahamas, Seychelles, Bermuda and the UAE (to name a few). Except for using these entities only to hold shares in UAE entities, these companies in the noons often also hold intellectual property rights and enter into licensing agreements, franchise agreements, management agreements and other similar agreements with UAE entities, aimed at reducing the perceived risks of retaining these funds in the UAE and/or to take advantage of the no or nominal tax regimes of these jurisdictions from which dividends are distributed internationally. The European Union has however, with effect from 1 January 2019 changed, the playing fields regarding the conduct of business in this way as is explained below.

What exactly are “Economic Substance Rules”

The European Union Code of Conduct Group, after assessing the tax policies of jurisdictions with no or only nominal tax, has prescribed certain criteria which need to be followed resulting in the implementation of laws by these noons for the purpose of eliminating the facilitation of corporate structures or arrangements aimed at attracting profits which do not reflect real economic activity in these jurisdictions. As a result, entities incorporated in noons which conduct certain identified business activities need to show “real economic activity” in these jurisdictions or face fines, penalties and possible de-registration by the relevant authorities in the jurisdiction in which they are incorporated. The European Union has further imposed certain measures in order to obtain cooperation from the noons which include “blacklisting” non-complying jurisdictions. In order to avoid “blacklisting”, all affected jurisdictions were required to promulgate “Economic Substance Rules” into law within their respective jurisdictions by 1 January 2019. In the UAE, economic substance regulations have been introduced by the Cabinet of Ministers Resolution No. 31 of 2019 which came into effect on 30 April 2019.

Essentially all the jurisdictions that have passed “economic substance rules” into law have followed the same criteria in that they have defined which entities are affected, which economic sectors and/or economic activities are affected and have devised certain tests to establish if an entity complies with the criteria for “economic substance” within that jurisdiction. Although all the laws passed by these noons are not exactly the same, the general criteria imposed by the European Union Code of Conduct Group have been applied by all jurisdictions.

Affected Entities

In general, all legal entities that are resident for tax purposes in accordance with the laws of the particular noon must comply with the economic substance requirements, the only exception being if the entity is resident for tax in another jurisdiction from which a tax residency certificate must be obtained to this effect. A number of the noons have also provided particular provisions relating to the determination of tax residency in their economic substance laws.

Affected Sectors & Relevant Activities

Generally, the relevant jurisdictions have made the economic substance laws applicable to the following sectors and/or activities, namely banking, insurance, shipping, fund management, financing and leasing, headquarters, equity holding entities, head offices entities, intellectual property holding and distribution and service centers.

Economic Substance Tests

To show that sufficient economic substance exists within the noon, an entity must pass the following “substance tests”, namely that the entity must from within the noon be (i) effectively directed and managed, (ii) conduct core income generating activities, and (iii) show adequacy in respect of qualified employees, expenditure and physical presence.

Directed & Managed

For an entity to be directed and managed from within the noon it will have to show that regular board meetings are held, the required quorum of directors are present at such board meetings, that the directors have adequate experience and knowledge of such responsibilities, that the minutes of the board meetings are kept, all within the noon itself.

Core Income Generating Activities

The entity must show that core income generating activities (“CIGA’s”) are conducted within the noon with due consideration to the level of income being generated by the entity’s activities. The extent of the CIGA’s may also be dependent upon the economic sector within which the entity falls and/or the economic activity of the entity as certain entities may be an equity holding company and license intellectual property in which case it must pass the test for both activities. The important feature in complying with the CIGA’s is that the income subject to tax in the noon is “appropriate” to the CIGA’s conducted in that jurisdiction.

CIGA’s for the different economic sectors and economic activities will vary. A few examples are as follows: (i) “Equity Holding Entities” would require compliance with relevant corporate filing requirements, manage the shareholdings in the various subsidiaries with adequate personnel and an appropriate premises (ii) “Intellectual Property Holding Entities” would require research and development activities to be conducted in the noon, and (iii) in respect of intangible assets such as brands and trademarks, the CIGA’s would have to include the conduct of activities such as branding, marketing and distribution.

It is possible to outsource certain CIGA’s, even to outside the noon however this would be subject to certain conditions. In the event of outsourcing, the resources of the service provider will be taken into account when determining compliance with the required CIGA’s.

Adequacy

Relating to the two criteria mentioned above, the noon entity must have sufficient qualified employees, incur sufficient expenditure and have adequate assets within the noon in order to justify the income generated by the noon entity. The employees must be physically present in the noon, although they do not need to be directly employed by the noon entity and may be employed by another entity and may be also be employed either on a temporary or permanent basis. The determination of “adequacy” will depend entirely on the particularities of the noon entity and its economic activity.

Reporting Obligations

Each noon has its own reporting mechanisms however, reporting will mostly be by the submission of a bi-annual or annual “economic substance return” specifying how the substance rules are being complied by the entity. Failure to comply with the economic substance rules of the particular noon will result in the imposition of penalties or other ramifications as determined by these laws. As the implementation date of the various economic substance laws in some of the noons was 1 January 2019, the reporting obligations relating to compliance with the economic substance rules for entities incorporated prior to 1 January 2019 is as early as 1 July 2019 in some of these noons.

As part of the filing obligations to the relevant company registration offices, the noon entity will be required to submit the following details: (i) business/income types, (ii) amount and type of gross income, (iii) amount of operating expenditure, (iv) details of premises, (v) number of qualified employees, including experience levels, employment terms, qualifications and period of employment, (vi) details of CIGA’s (for each economic activity conducted), (vii) financial statements (viii) details of outsourced CIGA’s (if applicable), (ix) business plans, especially relating to reasons for holding intellectual property in the noon, and (x) evidence of quorate board meetings and resolutions passed.

Penalties for Non-Compliance

Should the economic substance requirements not be met for each financial reporting period, the noons will impose financial penalties on the noon entities and in cases of repeated violation, the noon entity may even be de-registered or placed into liquidation by the competent authorities. The amount of the penalties are determined by the economic substance laws of the noons and are not uniform. By way of example, in the BVI the Economic Substance (Companies and Limited Partnerships) Act of 2018 provides for a penalty up to USD 20,000 for the first year of non-compliance and for repeated years up to USD 400,00 per year. The impact on a local UAE entity by a holding entity is incorporated in a noon could be that unless outstanding penalties are paid, the company registration offices of the noon entity may not issue documents such as certificates of good standing and the like, that may be required for share or property transfers in the UAE, amongst other problems that may be experienced.

De-Registration & Liquidation

In the event of repeated non-compliance with the economic substance laws of a particular noon, the noon entity may be de-registered or placed into liquidation at the instance of the relevant noon’s company registration office. Should the noon entity be de-registered, this will severely impact upon the local UAE company in that, required documentation will not be obtainable from the company registration authorities in the noon as may be required from time to time in the UAE, the transfer of shares in the UAE entity will be refused, the transfer of property owned by the local UAE entity will be blocked through the lack of documents, bank accounts of the noon entity may be blocked or even closed, the agreements between the local UAE entity and the noon entity may be unenforceable or terminated, and intellectual property rights may be seriously affected.

Action To Be Taken

Where UAE entities are owned by noon entities, the economic substance laws of the particular noon must be complied with to avoid possibly serious implications on the operations of the UAE entity. As the reporting deadlines are close in a number of noons, the necessary action should be taken immediately to establish both the necessity and thereafter the requirements of the particular noon in order to comply with the economic substance rules. In the event that the economic substance laws of the noon applicable to your business require action, immediate corrective action should be implemented to avoid unnecessary penalties. If actions have been taken, it may also be worthwhile to undergo a “health check” to ensure complete compliance.

Armanino recognised for excellence in Technology Consulting

Armanino LLP, one of the 25 largest accounting and business consulting firms in the United States, today announced it has been named a finalist for the 2019 Microsoft Dynamics 365 for Finance and Operations Partner of the Year Award and to Bob Scott’s Top 100 VARs for 2019. The firm was selected by Microsoft as one of only 164 companies to be recognised in its Partner of the Year Awards from a field of nearly 3,000 nominees across 115 countries. Bob Scott’s Top 100 VARs are chosen from organisations specialising in the sale and implementation of enterprise resource planning and accounting software based on annual revenue.

“These recognitions tell a larger story about the level of detail and client service we put into every engagement. At each level, we strive to be the most innovative and entrepreneurial firm so we can make a positive impact on our clients,” said Matt Armanino, CEO at Armanino LLP. “We are excited to be named a finalist for the 2019 Microsoft Partner of the Year honour and to Bob Scott’s Top 100 VARs, because it means that impact is being felt with results and success for clients.”

Armanino was recognised for providing outstanding solutions and services in Microsoft Dynamics 365 for Finance and Operations. As a Gold Certified Microsoft Dynamics partner, Armanino serves on the Worldwide Partner Advisory Committee and has been named a Microsoft Dynamics Inner Circle member six times since 2012. In March 2019, Armanino opened its Seattle office, providing direct access to the Microsoft ecosystem. The firm serves clients by defining digital transformation with cloud technologies and supports business process reengineering with a selection of solutions including AI, IOT and BI/Analytics created through Microsoft Business Applications.

The Microsoft Partner of the Year Awards recognise Microsoft partners that have developed and delivered exceptional Microsoft-based solutions during the past year. In addition to Microsoft Dynamics 365 for Finance and Operations, Armanino offers a host of software solutions including Microsoft Dynamics 365 for Customer Engagement, Dynamics GP, Salesforce, Sage Intacct, Adaptive Insights, Microsoft Power BI, Workiva, BlackLine and more.

About Armanino LLP

Armanino LLP is one of the 25 largest independent accounting and business consulting firms in the nation. Armanino provides an integrated set of audit, tax, business management, consulting and technology solutions to companies in the United States and globally. The firm helps clients adapt and change in every stage of business, from startup through rapid growth to the sale of a company. Armanino emphasises smart technology, leading a cloud revolution of financial, operational, sales and compliance tools that are transforming the way companies do business. The firm extends its global services to more than 100 countries through its membership in Moore Stephens International Limited, one of the world’s major accounting and consulting membership organisations. In addition to its core consulting and accounting practices, Armanino operates its division, AMF Media Group, a media and communications services agency. Its affiliate, Intersect Capital, is an independent financial planning, wealth and lifestyle management firm.

If you would like to find out more information, please visit https://www.armaninollp.com/

How overseas growth can enhance your business

Expanding overseas can play a critical role in the prosperity of many mid-market companies, so it’s no surprise that 37% of businesses expect to increase exporting in the coming year. And if companies are not considering overseas growth, they can be sure their competitors will be.

Forging New Ground

One company that is already looking at exporting well beyond Europe’s shores is Norfolk-based Centurion, which has been making protective head gear, including helmets and face screens, since the nineteenth century. To safeguard its future, CEO Jeff Ward led the business through a total rebranding and restructure when he joined three years ago.

“Centurion is a 140-year-old business and, while our history is something we’re enormously proud of, it was hindering our progress,” says Ward.

“There’s no getting away from the fact that we were stuck in the past. Yes, we’d developed our product range and, yes, we were doing OK, but we weren’t growing and our approach to business was dated. We expected new business to come to us instead of going all out to raise our profile, to network and to make the types of connections that would lead to new contracts.”

Despite being one of the leading players in its sector, Ward says Centurion lacked visibility and definition in the market. “We were too vague about our identity, about what made us stand out from our competitors. Starting from scratch and looking at every aspect of our business helped us focus our attention on who we were and on our goals – the most vital of which was expanding overseas.”

Approaching Overseas Growth

Ward worked with our advisers on several aspects of Centurion’s restart, including raising its profile locally, optimising its R&D tax relief and, more recently, overseas growth. Over the past year, its international sales have grown by 30% – from £6 million to £9 million – and Ward expects this to continue in 2019, mainly in the Middle East and the US, where the company has a new partnership.

Repositioning itself in both the domestic and international marketplace was key to Centurion’s recent growth. “Exposure, perception and connections are vital when you are trying to expand,” says Ward. “Grant Thornton elevated our profile, initially on a local level by showcasing our company and its success as one of the top 100 businesses in Norfolk, and then by advising on our overseas growth. These are still early days, but I’m happy with the opportunities that are opening up. I’m excited about the partnerships we’ve established and hope that more will follow this year.”

Is NOW the right time to expand your business Internationally?

Expanding your business Internationally is a monumental task but, if done right, can be a significant driver of growth. We are proud to say that we now have coverage in 190 countries, with a small team and no outside funding.

Invest in a scalable infrastructure

Build a platform that is designed to scale from day one. For example, we made sure that Advisory Excellence was set up with infrastructure where it was easy to add new countries, and track KPIs globally.

A focus on marketing channels that can scale, such as Google, Youtube, Pinterest and Linkedin, can also prove useful in building a strong foundation for future growth. Whatever your budget, these platforms allow you to test the waters as knowledge of your market increases. As campaign metrics demonstrate positive growth, your company can expand budgets to grow reach Internationally.

Think globally, act globally

Being in hypergrowth mode is exhilarating but there are plenty of opportunities to learn from mistakes. When you scale very quickly, there is no time to micromanage locally. Only tailor locally what has been proven to make a significant impact.

Build a small but mighty team

Crafting a small but mighty team is key to moving forward in a positive direction. Even if there are only a small number of individuals, a dynamic team can move mountains when the focus is right. Create a high passion and energetic team which is invested in the future of the business.

If you instil one motto in your team, it should be: fail fast, learn and improve. We love trying new ideas and encourage the whole team to continuously test, especially when it’s outside their comfort zone. The only requirement we set is to approach it methodically, to document the results and to share learnings with the team.

Stay community-focused

Nurture your brand ambassadors; your first and most loyal members or customers will be your strongest voices if they can be involved. We’ve been around since 2013 and have built a community that continuously stays engaged. Listen to your members or customers, speak with them every week and make changes based on your insights. As a result of listening to our members, we decided to start hosting events. There is nothing stronger than a real-life experience and it really makes us stand out from the crowd in a competitive market.

Getting more feedback from your audience can push your business to new heights. We collaborate with our members, so a lot of our content is member-generated.

Work smart

Automate time-consuming tasks. We believe we have a strong proposition for individuals around the world and (while there have been many lessons along the way!) expanding into new markets has been one of the most rewarding things we have done.