Insolvency and restructuring trade body R3 is urging directors of Covid-hit businesses to use the final month of the government’s furlough scheme to plan for the future and address any financial issues they face. The furlough scheme ends on 30 September, and employers have until 14 October to claim wages for staff who have…
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They say that behind every good business is a great accountant, and it’s true! A great accountant does far more than save you money on your tax return – although that certainly is an attractive benefit. Hiring a great accountant isn’t just about remaining compliant; it’s a big step towards improving the financial health of…
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In order to grow your business, you need to understand how you’re faring. Financial numbers provide you with an accurate picture of your performance, but as a busy business owner it’s unlikely that you have the time or the inclination to spend hours pouring over complex numbers. However, ignoring your financial numbers is likely to…
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They say that only two things are certain in life: death and taxes. Paying tax is inevitable but there are things you can do to reduce the percentage of your income that the taxman takes. As a small business owner, the likelihood is that you’re probably paying too much tax, which is why we’ve put…
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As a small business owner, it’s crucial that you manage your expenses well. In fact, Fundera found that 20% of all small businesses fail within the first year, so it’s vital that you develop good money management habits right from the very beginning. Small businesses tend to have smaller profit margins, so it’s essential to…
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After a sustained period of growth, business owners often find themselves in a tricky position. The business now requires an experienced professional to take charge of the finances, but hiring an in-house finance director is still out of reach. In this case, it’s time to think about hiring a virtual finance director (FD) to lighten…
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Are you having trouble navigating loans and the risks involved? Ask yourself the right questions to find out if taking out a business loan is worth the trouble. Why do businesses take out loans? The fact is that there can be any number of reasons. Some need financing to get the business off the ground.…
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Creating a realistic budget is one of the best ways to protect your business during periods of difficulty and keep it running smoothly in spite of setbacks. A budget gives you more control over the financial health of your business, allowing you to manage cash flow, create spending caps and set realistic targets. The businesses…
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Branding” has become a bit of a business buzzword lately, but what does it really mean – and why do you need to do it? Your brand is how your audience sees you and so branding is the process of shaping that perception. It’s an important process because ultimately, your brand is what makes you…
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