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 [...]
They say there are 5 stages of love: Attraction – Curiosity – Crisis – Deep Attachment- Commitment But these don’t just apply to l’amour, they can easily be applied to the relationship that you have with your business as well… Attraction – the honeymoon phase when everything is new and exciting, [...]
With Corporation Tax going up, we have seen an increase in the possibility of using an LLP instead of, or alongside, a Limited Company to mitigate some of these rises. This blog looks at what an LLP is, how it is taxed and considers if using one is worth the effort [...]
The worst thing about running a business is the responsibility you feel for keeping everything on track. This responsibility never goes away - it’s always there - in the good times, it’s kept at a minimum because things are going well, but in the tough times it rears its head and [...]
