Business budgeting for success needs the solid foundations of sound financial management built into its overall strategy. For that reason finances should underpin every aspect of its work. Plan and cost your activities, so your resources are properly considered. “Failing to plan is planning to fail,” Benjamin Franklin Likewise Franklin’s words apply to budgeting. Hence budgeting is […]
First of all to budget in business you should have a “Personal Survival Budget” in place. What’s your minimum survival budget? Furthermore remember very few businesses make enough money in the formative years. So in order to find out how long you can continue trading, establish what your minimum survival budget is. Also look at how […]
Credit control:Take charge Credit control is an area that many of us find difficult to fit in to our working lives. However take note it’s really important to keep on top of it- it’s the lifeline of your business after all. 3 questions to ask yourself regarding credit control: Are you on top of your […]
Business performance & how to measure it Above all business performance and how to measure it plays a vital part in business success. Similarly also in sustainability and growth. It is not a one-time event rather it is a continuous process. As a result successful business performance measurement and management can be summarised in the […]
Ready for Making Tax Digital ? There has been a lot of news and noise about Making Tax Digital (MTD). The purpose of this short blog is to remind you of the key points about MTD, which becomes live on 01-Apr-19. Making Tax Digital MTD is compulsory if you’re VAT registered and over the VAT […]
Property & Tax Five points Property Investors should take onboard when it comes to property and tax. 1 Consider the type of property and time frame of the investment, short term or long term. Property will either be commercial and/or residential property. Commercial properties include offices, hotels and warehouses.Regarding rental income, residential rent may […]
Get started with Cloud Accounting and Xero Firstly financial and business information plays a vital role in the management of businesses. Furthermore it is used for numerous day-to-day operations to help: Comply with accounts, tax, PAYE and VAT obligations Tell us about levels of cash, income, costs, debt and monies owing Track income and expenditure […]
Keep business cash flowing Firstly keeping business cash flowing is the most important financial commodity that keeps the business wheels rolling. Secondly cash is the life-blood of any business and is vital for survival, sustainability, investment and growth. As a result cash is needed for a whole variety of things, from paying staff, suppliers and […]
In the digital age, the UK tax system is evolving to become more efficient, effective, and taxpayer-friendly. Making Tax Digital (MTD) is at the forefront of this transformation, aimed at positioning HMRC as a global leader in digital tax administration. But what exactly is MTD, and how does it impact businesses? Let’s explore this digital […]
Employee motivation is highly important for the productivity and growth of any organisation. As a result employees who are motivated by managers show good efforts, get involved in critical processes and on the whole remain loyal to the organisation. Therefore employers should not overlook the power of motivation and should constantly try to boost the […]