More people than ever are choosing to liberate themselves from the rat-race and start their own business. But whilst the motivations for doing this differ – a better work life balance or financial freedom – all entrepreneurs want to bring their big idea to life. Whether it’s been a long held dream to run a coffee shop, become a consultant, or see yourself as a smartphone app designer, making it happen is the next step.
When you’re running a small business, it’s important to remember the adage “cash is king!”. That’s because cash is the food that your business needs to survive and, if there’s no money coming in, your venture may face a struggle to survive.
Many organisations are unaware that they have un-cancelled bank guarantees still in place. When companies conduct capital expenditure projects, banks usually insist that they take out a bank guarantee. These guarantees may have existed for many years, in different jurisdictions and under different management teams.
Apple Pay has really brought alternative payments into the spotlight and while there is a lot of consumer enthusiasm around its launch in the UK, the full range of emerging (and disruptive) alternative payment options should not be overlooked.
The credit crunch affected nearly everyone in the UK at some point – from politicians to finance professionals, business owners to private and public sector workers, and everyday consumers.
The worldwide spate of mega-deals may take the headlines but the heat in the mid-market is just as intense. Not since before the 2008/9 financial crisis have there been as many transactions as in the past quarter.
Figures were published earlier this year showing that, for the first time, card purchases accounted for over half of payments made in the UK. This led some people to argue that the last days of cash are imminent, with Apple Pay providing yet another nail in the coffin.
The importance of small and medium sized enterprises (SMEs) to the UK economy can’t be overstated. Accounting as they do for 99.9 per cent of private sector companies, they have a combined annual turnover of £1.6 trillion and provide 60 per cent of private sector jobs in the UK.
All small and medium-sized entrepreneurs (SMEs) want to find ways to boost their profits. It is a universal desire driving entrepreneurs. And most companies take the same universal route to getting there – raising prices or trying to generate more spend per customer.
The news this week from Ofcom that smartphones have overtaken laptops as the most popular device for getting online confirms the UK’s status as a nation of mobile movers. But what does it mean for you and your business, and how do you make sure you’re keeping pace with your customers’ changing habits?
Everyone has a stake in the efficiency of local and central government. We all pay taxes, and I for one, dislike paying for someone to process paper invoices. Especially as there is a better and simpler way of doing this — and has been for some time. Likewise, to enable growth and support suppliers, prompt payment targets have been introduced.
In April 2015, the rate of relief for small and medium-sized enterprise (SME) businesses claiming Research and Development Tax Credits increased to improve investment and innovation. However, despite these increases, it is estimated that hundreds of thousands of small businesses continue to remain either unaware or uncertain of their eligibility to claim the credits. As a result, R&D tax credits are an untapped benefit for the SME. Consequently, millions of pounds remain unclaimed.