Business owners must have a love-hate relationship with receipts. On the one hand they are a pain in the backside always having to remember to get them and keep them safe, taking up valuable space in your wallet or the door pocket of many vans. On the other hand, they are [...]
In January, we released our Recession Busting Business Plan template, and here we are now, at the end of Q1 2023 and I wondered how you are doing against the plan you drew up. It seems we may be avoiding a recession, but it has to be said that times are [...]
Working for yourself is difficult at the best of times - you have a lot of balls to juggle and things to remember. One of those things is your finances. As a sole trader, it’s easy to mix up your personal finances with your business’s finances, after all its all your [...]
Peter Drucker once said, “If you can’t measure it, you can’t manage it.” Key Performance Indicators (KPi’s) are often associated with financial measures, but Non-Financial Key Performance Indicators (NFKPi’s) are equally important and should be identified and measured to allow the performance of an organisation to be viewed as a whole. [...]
Corporate responsibility refers to the concept that businesses have a responsibility to act in a socially responsible manner. This includes considering the impact of their activities on the environment, society, and the economy. There are several reasons why corporate responsibility is important: Reputation and brand image: Consumers are increasingly conscious of [...]
The Spring Budget took place on the 15th March 2023 and it has to be said, on the face of it, was not that exciting. That said, it was predictable given the mess Kwhasj’s budget made. The key headlines for business owners are: Corporation Tax Rate increase to 25% going ahead. [...]
Small business owners often face a variety of challenges when it comes to pricing their products or services. While it may be tempting to under-price in order to attract more customers, setting the right price is crucial for the long-term success of any business. Here are a few reasons why getting [...]
Cutting costs in a small business is a key strategy to improve profitability and ensure sustainability, and it might not be as difficult as you think. Here are some ways to cut costs in a small business: Analyse your expenses: Analyse your expenses to identify where your money is going. Look [...]
The list of reasons that businesses fail is long, and many of these are out of the business owners’ control, but sometimes mistakes are made. Here are the top 5 mistakes made by business owners to help you identify and avoid them. Lack of planning: Many business owners fail to create [...]
The latest figures by the UK Insolvency Service reveal there were 22,109 underlying corporate insolvencies in 2022, an increase of 57% from 2021’s statistics. There are several factors contributing to the increase in UK insolvencies: COVID-19 pandemic: The pandemic has had a significant impact on the UK economy, with many businesses facing [...]
