Even with a return to economic stability, entrepreneurs are faced with a number of pressures to ensure business survival. The key to longevity is to eradicate common business problems, including day-to-day frustrations such as managing accounts, which can be time consuming and costly due to cumbersome accounting requirements and processes.
Despite three months of simmering unrest, a troubled history and the shadow of Russian influence hovering in the background, the eruption of violence in Ukraine in February took many people by surprise. However, some British businesses with operations in Ukraine may query whether recent events in the country should have been foreseen, and if the current uncertainty could have been avoided.
25 years ago the concept of being able to access hundreds of pounds simply with a few taps of your mobile phone while walking down the street would have been completely alien. The internet has totally transformed the way that both consumers and businesses access finance. It has provided them with a wealth of options where people can quickly and easily compare loan options from across the world. No longer are consumers forced into taking a loan from their nearest bank or money shop; they can log on and compare rates and see what is best for them.
There comes a time when all business owners think about putting their feet up and settling into retirement.
For the post–war baby boom generation that time is here, with more and more looking to sell their business and give up work. With the UK economy growing at its fastest rate since the recession began in 2007 there has never been a better time to plan for the future and how to exit your business.
As a chartered accountant, I see first-hand the significant financial impact that effective tax planning can have – and how confusing tax can be for both individuals and businesses. However, with the new tax year less than a month away, it’s essential to understand what allowances are available and what changes 6th April will bring.
There are lots of payments providers out there boasting to be the best, but how do you choose? Whether you want to accept payments in an app of via your website, there are a few key things to think about. Here are the five things any small business should consider when choosing a payment provider.
Keeping ownership in the family is generally the preferred choice for most businesses. However, some find that cash constraints or growth opportunities make it either necessary or desirable to raise additional finance. If this cannot be found through borrowing or other non-equity sources, then raising external equity may be the only option.
Guy Rigby, author of From Vision to Exit and head of entrepreneurs at Smith & Williamson, considers the arrival of crowdfunding with its opportunities and pitfalls for businesses.
The Growth Vouchers programme was announced by George Osborne in last year’s budget and the £30million business incentive scheme launched in January 2014. The big idea, as the name suggests, is to get serious about small business growth. The vouchers are available to UK SMEs investing in strategic growth advice, whether that be help with money management, marketing or staff training. In reality the funds represent a subsidy rather than a grant. That’s because a business can apply for a Growth Voucher to match its own investment up to a maximum of £2,000. So as a small business you can invest in marketing help worth £1,000 and pay only £500, with your Growth Voucher making up the rest; or if you receive strategic accounting advice to the value of £5,000, a Growth Voucher could represent a £2,000 discount.
With the General Election looming in less than 18 months’ time, George Osborne’s Budget on March 19th is bound to be influenced much more by political considerations than by objective economics. However, the Chancellor has shown himself to be a very shrewd operator and he will no doubt be determined to marry up fiscal rectitude with some pre-election goodies to fire up Conservative support.
It can be far more cost and time efficient to keep your broadband, mobile and telecoms billing together — make sure your provider is offering telecoms bundles, along with capped rates and low recursive charges.
The life expectancy of the average company is becoming shorter by the year. Last year there were a record number of bankruptcies. This rapid changing of the guard is due to the fact that technology is evolving at an ever faster rate. Recent events have made it obvious that past success is no guarantee of future success. I’ve tried to come up with a story to motivate companies to re-invent themselves.