The Recovery Loan Scheme is a government loan scheme that allows qualifying businesses to borrow up to £10 million – either as term loans, overdrafts, invoice finance or asset finance. It replace the now closed Coronavirus Business Interruption Loan Scheme (CBILS) and Bounce Back Loan Scheme (BBLS). Recovery Loan Scheme: Available from 6 April 2021…
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Speaking at Mansion House this morning Chancellor Rishi Sunak announces his ambitious blueprints to turn the UK into the ‘most advanced and exciting’ financial services hub. The major speech, which happened at 9am this morning, announced the Chancellors’ plans which aim to create tens of thousands of new jobs and boost prosperity in the…
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We all love getting paid quickly, and the best way to make this happen is to manage your invoices well. A report by Entrepreneur found that US-based small businesses have an average of $84,000 tied up in unpaid invoices at any given time, which is bad news for cash flow to say the least. Invoicing…
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There’s never been a better time to digitise your small business. The past few years have highlighted the importance of organisational agility and digitisation greatly strengthens this, allowing for rapid innovation and adaptation to market shifts. Furthermore, a Microsoft study of 23 Singaporean companies found that small and medium businesses (SMEs) stand to increase their…
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Most small business owners are familiar with the idea of a traditional on-site accountant and bookkeeper, but could your business benefit from hiring a digital one instead? There are many benefits to hiring a digital accountant, since you will receive all of the same services but without the limitations imposed by location and set office…
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Many small business owners have been using spreadsheets to do their accounting for years now. Whilst spreadsheets may seem like a convenient and cost-effective way of managing your finances, advances in cloud accounting software mean that your business could most likely benefit from an upgrade. Let’s take a look at why you should swap your…
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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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There’s never been a better time to digitise your small business. The past few years have highlighted the importance of organisational agility and digitisation greatly strengthens this, allowing for rapid innovation and adaptation to market shifts. Furthermore, a Microsoft study of 23 Singaporean companies found that small and medium businesses (SMEs) stand to increase their…
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It’s the age-old debate: cash flow or profit? Whilst the two are undoubtedly related, they are certainly not the same thing and business owners must often sacrifice one at the expense of the other. In the long term, a business needs both positive cash flow and profits to continue operation, but which one should entrepreneurs…
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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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