Ian Watkinson, from Clear Funding, says the culture of late payments is changing but, even so, companies need to take more control and explore ways in which they can take advantage of opportunities to access advance funding, should they be subjected to delays.
A smoothrunning payroll system is vital to the success of any small business. Staff payment problems can lead to low morale, poor productivity and perhaps even a government audit.
While payroll responsibilities can seem daunting when you first start out, with a little care and planning you can avoid the common mistakes…
The tendency of most smaller businesses is to feel like a cork floating on the ocean, incapable of influencing how or where the market takes them.
This is true in almost every industry.
But it doesn’t have to be that way.
Posted on 8th December 2014 in Business Education, Business Growth, Business Management , Business Profiles, Business Support, Conferences & Exhibitions, Corporate Finance , Finance, Finance Management, Networking.
It isn’t just personal current account customers who can take advantage of the free Current Account Switch Service to swap between banks — small businesses up and down the country can make the most of the service, too, if they want to move to another current account provider.
Finding the right accountant for your business is as important as choosing the right business partner. Your accountant becomes a true colleague; someone you can trust and depend on. Someone who, as your business grows, will offer you the financial guidance and advice you need to succeed. But first you’ve got to find the perfect accountant for you – so, how do you find them?
In part 1 of this series on Patent Box we covered what it is and where it is available. Part 2 covered how it is calculated and what processes are involved. In this final part, we give our view.
In simple terms, the Patent Box is a regime that provides a reduced rate for corporation tax on profits derived from the exploitation of patents.
It is quite a complex regime, however, and qualifying for it has many various requirements. Furthermore, it applies to a number of different scenarios which include patents and products, so careful consideration must be taken to ensure companies benefit from it.
Following on from part 1 in the series on Patent Box, part 2 covers how it is calculated and what processes are involved.
Despite countless calls for change and the introduction of various codes and charters to address the problem, late payment continues to be one of the biggest issue facing small businesses today. Indeed it seems to be getting worse with a survey from the Federation of Private Businesses showing that 23% of its members reported an increase in late payment over the past year compared with just 3% who reported a decrease.
Here is a simple truth: there would be more jobs if there were a better understanding between banks and the businesses that want to borrow from them. But this appears to be lacking.
Winning a major deal with a large organisation can be a landmark moment for a small growing business. Securing and running that first big contract is often one of the top reasons why entrepreneurs set up in the first place. Yet, it can be blessing and a curse. While the deal might have been won due to a compatibility of ideas and a strong desire to work together, the SME has to bend over backwards in adhering to the strict payment and procurement terms of these enterprises. This, unsurprisingly, can impact profitability, morale and the desire to take on additional larger clients.