The inflation rate rose to 10.1% in the 12 months to July, the highest level since February 1982. The rate has risen sharply over recent months and was up from 9.4% in June. The July figure was the highest annual consumer price index (CPI) inflation, according to the Office for National Statistics (ONS). Increased food…
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Businesses believe that they will need skills in finance, trade, and taxation to help them navigate business growth over the next 20 years. According to the Lloyds Bank Business Barometer, 83% of businesses expect the next 20 years to be more challenging than the last two decades which included the 2008 financial crisis, recession, Brexit,…
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To succeed in business requires good strategic decisions, informed by in depth understanding of your own business performance and the wider market. Evaluating business performance doesn’t need to be overly complicated. Review your business activity and what you set out to achieve Your business goals should keep you focused. Set targets for your business to…
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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 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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Business growth doesn’t happen by chance, and when poorly managed it can actually do more harm than good. You need to make the right moves to ensure that your small business achieves long-term growth and financial success. Growing a small business is certainly challenging and requires a lot of work, but the journey is that…
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As a small business owner, it’s important to differentiate yourself from the competition, but doing so often comes at a hefty cost. According to the Small Business Administration, just below half of all small businesses survive for five years and just one in three stay afloat for over a decade. The importance of being financially…
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Growing your small business can be challenging and there’s a lot to think about. However, you didn’t go into business by yourself to take the easy route and there are plenty of things you can do to grow your revenue. Let’s take a look at four of the most effective ways to dramatically increase your…
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As a small business owner, there’s no greater joy than watching your creation thrive. As you experience success, it’s only natural to think about growth, which is both exciting and intimidating. Starting a business is one thing but scaling up is quite another. Research by Barclaycard found that in order to scale up, you need…
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Is your business not operating at maximum efficiency? Fortunately, some problems are easier to spot and fix than you think. Systems, processes, operations, logistics – every one of these different departments can develop issues. As a business owner, you either oversee all of them yourself or the people responsible for them. But even with a…
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