Running your own business is a risk, stepping away from a regular pay cheque for the uncertain profits of a business, is a risk. But you can’t stop there, because if you want to grow your business you are going to have to leave your comfort zone time and time again. [...]
Businesses are started for many reasons and the main reason, underneath all the other ones, is to make a profit. No one sets out to make a loss and an occasional monthly loss is not a problem, but this blog explores consistent losses. Why do some businesses make consistent losses? To [...]
On my way to the office this morning, I passed 3 petrol stations all with queues of traffic and I couldn’t help thinking back to the last fuel crisis – I think it was a tanker driver strike – and the stress of trying to run a business when you don’t [...]
It’s become quite the business buzzword, “VA”. But what exactly is a Virtual Assistant? In simple terms, they are multi-skilled, solution finding administrators who have ninja-like skills when it comes to multi-tasking. They are flexible, they are skilled, they are efficient, and they are virtual. So not only can they serve [...]
Covid-19, and the Government’s response, has posed the most severe peacetime challenge to the UK economy in living memory. But real and sustained growth is attainable for the prepared business. Whilst the latest Office for National Statistics data indicates that the UK economy is 4.4% smaller, in GDP terms, than it [...]
I am sure it didn’t escape your attention that Boris Johnson was on TV this week announcing a new tax / increase in national insurance and dividends. The announced increase is 1.25% on top of the current National Insurance already deducted from employees and the self-employed. Possibly the most interesting (or [...]
One exit strategy you may consider as a business owner, is selling your business to a 3rd party. The reasons for this are many; you may be ready to retire, you may want to move on to new challenges or the business may have become unmanageable. If this sounds like you, or [...]
Cashflow is important for all businesses but especially so for those in construction, where jobs can be larger, payment terms can also be long and supplier terms short. This blog outlines the steps you can take to make sure that your Construction Business does not run out of cash, including: Forecasting [...]
Yesterday I heard the sad news that comedian Sean Lock had passed away after losing a battle with cancer, far too soon aged only 58. It’s a sad loss indeed, he brought laughter and comedy to many, including myself – I could often be found doubled over in front of the [...]
One of the key components of making sure your construction business is profitable, is having access to accurate management accounts. An accurate Profit and Loss and Balance Sheet will help you make financial decisions, based on accurate information, in a timely manner. An accurate P&L will include the following: Work In [...]
