Finance directors and teams can be blamed for delaying payments but recent research suggests otherwise. The research – conducted by Invu of UK finance workers – suggests late payments are often a result of poor purchasing systems and processes, rather than a cash management decision based on visibility and control. Businesses spending additional time and […]
Posted on 29th April 2016 in Finance.
Much has been said in the press lately about the pay packets of board executives and given the uproar, you could take a wild guess that they wish it could have been kept under wraps. The chief executive and chairman of Centrica and the chief executive of BP were recently criticised publicly over excessive pay […]
What’s the biggest challenge for small and medium-sized enterprises in the year ahead? According to organisations such as the Federation of Small Businesses, it’s not the global economic slowdown that worries small businesses most or even the uncertainty over the UK’s EU membership referendum – the issue keeping them up at night is the cost […]
Posted on 20th April 2016 in Finance.
Wallets, or purses, have been around since bartering was replaced by the exchange of goods for currency of whatever variety. Therefore they were handy means of carrying that currency in case you needed to ‘buy’ something on your travels. Centuries, if not millennia, have passed and we are now in the electronic, or digital, age.
Posted on 14th April 2016 in Finance.
If you’re looking for a business loan of more than around £50k, it’s highly likely you’ll be asked by your bank to provide security. More negative commenters have quipped that these days, the high street banks are little more than pawnbrokers — and for firms in recruitment, technology, media or business services, the banks’ attitude […]
Posted on 7th April 2016 in Finance.
E-invoicing is going to be an integral part of our digital economy in the next few years. Many big businesses and governments have already switched over to this system, and it is only a matter of time before smaller businesses have to follow suit. But wait a minute! What even is e-invoicing? How does it […]
Posted on 7th April 2016 in Finance.
For any accountants who have been preparing their end of tax year reports, the last few months are likely to have been pretty stressful. However, there are many things that accountants can implement as we head into the new financial year to make their lives easier when they come to prepare their documentation again in […]
Posted on 6th April 2016 in Finance.
The advent of alternative finance has made the world of finance a more transparent, easier to understand topic for many small businesses, but there’s still the age old problem of complex fees that can be a headache for many firms. And it may be holding many back from benefiting from the new age of finance. […]
Posted on 1st April 2016 in Finance.
Did you know that as soon as a business transitions from borrowing as a sole trader (where lending is covered by the Consumer Credit Act) to raising debt finance as a Limited company, business owners are no longer protected by regulation? This means that simple protections, such as the requirement for finance products to carry […]
Posted on 31st March 2016 in Finance.
Despite all the talk of business growth, a closer look at the UK’s business lending reveals that access to finance is still a serious headache. Research from the British Banker’s Association published in December 2015 revealed that there was a £2.7bn drop in borrowing by UK companies – much of which will have hit small […]
Posted on 30th March 2016 in Finance.
Legacy technology, as well as in-house built systems based on spreadsheets and macros, can become a liability for your business. Not only can IT failures leave bank customers without their money for instance. They can also trigger regulatory compliance delay fines and expose businesses to operational risk due to budgeting, planning and reporting errors. Often, […]
In January 2016 Solvency II, the new insurance industry regulatory regime, established capital requirements and risk management standards designed to increase policyholder protection across the whole of the European Union. Aiming to reduce the possibility of consumer loss or disruption in the event of a large-scale meltdown, the new rules require insurers to hold enough […]