Five Ways to Manage a Healthy Cash-Flow

We cannot stress further the importance of properly managing your cash flow to ensure the smooth running of your business. However, in times of crisis such as the ongoing COVID-19 pandemic, this becomes more than important– managing your cash becomes a necessity for survival. If you are experiencing cash-flow troubles, here are five things you can do to manage your cash flow better. Check your expenses. Now is the perfect…  Read more

How your business can thrive even in a recession

The pains caused by a recession can be excruciating, which is why most of us dread the thought of it. A recession can mean massive layoffs, jobs becoming harder to find, and wages frozen, which means consumers hunker down and spend less– often worsening the economic slowdown unknowingly. For most businesses, especially small businesses, recessions can be brutal. Just take for example, the Global Financial Crisis (GFC) that struck the…  Read more

How cash flow forecasts can help you

Managing cash flow is a vital part of running a successful business. Some business owners think managing cash flow simply means keeping track of how much money enters and leaves their business, but there’s actually more that goes into it. Cash flow forecasting, for example, is an incredibly valuable tool that helps you anticipate cash flow issues, plan for days when your cash flow is limited, and show the bank…  Read more

Three ways to speed up invoicing

Everyone likes making money, especially small business owners. Invoicing, however, is typically one of the tasks that small business owners like the least. Chores like creating and sending invoices get set aside for other duties that are seen as more enjoyable or even more urgent. You tell yourself you’ll get around to it tomorrow, but tomorrow becomes next week, next week becomes next month, and suddenly you realise your client…  Read more

Using KPIs to monitor and improve business performance

The key performance indicators (KPIs) for one company will invariably be different from the KPIs of another firm.  What both hypothetical companies share, however, is the challenge of selecting which KPIs are best suited for measuring the goals and progress of their particular business model. Indeed, entrepreneurs have a vast array of reports and data sets from which to choose and select from, but that data needs to target those…  Read more

Identify your break-even point

Without knowing your break-even point, you can’t make informed business decisions. To cover the costs of your business you need to sell enough goods or services to reach your break-even point. Knowing where that point is, and how long it will take you to reach it, can be fundamental to your success. This especially true if you’re thinking about starting or buying a business. Calculate fixed and variable costs The…  Read more

Using Snapchat as a Marketing Tool

Snapchat is a popular video and image sharing app. It has become one of the most popular social media platforms but can it be used by businesses as a marketing tool? Originally, Snapchat allowed Android and iOS smart-phone users to send and receive images that could only be kept for a short time, once received. However, Snapchat has evolved and users can now use the ‘story’ function where your photos…  Read more

Six things to consider for online accounting software in your retail business

A lot of retailers are now using online accounting software for their businesses. There’s a good reason for that – it can make all the difference when it comes to managing your retail business. But you’ve got to make sure that you choose the software that’s right for you. Here’s a quick checklist of recommendations, to make sure you’ve got the right accounting software when it counts. Does the software…  Read more

Personal Service Company Changes From April 2020

In the Autumn Budget, the Chancellor announced that the “off-payroll” workers rules that currently apply in the public sector would be rolled out to the private sector in 2020. The government have now issued a consultation paper that sets out proposed tax and national insurance changes that will impact on those supplying their services through personal service companies. End users will be required to determine whether the rules apply to…  Read more

Self Employed Pensions

When you’re employed, your employer makes compulsory contributions to your pension via auto-enrolment (unless you opt-out). When you work for yourself as a sole trader, or you’re in a partnership, making pension payments isn’t mandatory. But, it’s still an important thing to consider. It is especially worrying that studies have found that 45% of self-employed workers between 35 and 55 have no pension. Retirement savings contributions are there to set…  Read more

Remote Working is On the Rise

Remote working has become more and more common as developments in technology have allowed us to communicate and collaborate no matter where we are. In fact, most of us are already logging on from home or holiday already. In May 2018, Swiss serviced office provider IWG released a study that found that 70% of professionals work remotely at least once a week. Sometimes called ‘telecommuting’, remote work is on the…  Read more

Obvious Innovation

Innovation can be driven by taking an ‘obvious’ idea from one context and applying it in another The successful development and implementation of new, innovative ideas are crucial in business. Your innovation could focus on improving business processes, bringing new and improved products and services to market, increasing efficiency or, most importantly, improving profitability. Being innovative in business isn’t all about being the next Steve Jobs or inventing the light…  Read more

How to Overcome your Fear of Failure

One of the most common things holding people back from achieving their potential in business is the fear of failure. It is human nature to fear the unknown. When we push ourselves outside of our comfort zones, whether in business or in our personal lives, it is pretty normal to feel some degree of stress and anxiety. In business, many of us consider our work to be representative of who…  Read more

Business Trends to Watch for – 2019

Here are some of the top Business Trends to watch in 2019. Marketing will continue to become more personalised Marketing is becoming increasingly personal, and this trend will keep going as we move into the new year. No longer will stock images, generic campaigns or impersonal calls to action convince consumers. In order to appeal to increasingly sophisticated customers, you’ll have to provide high-value, targeted and personalised content. Technology will…  Read more

Dealing with “Imposter Syndrome”

“Imposter Syndrome” can be described as a pattern of thinking that leads people to lose confidence in themselves, in their accomplishments and in their ability to do their job. This results in individuals becoming stressed about being “discovered as a fraud” by their peers. Imposter syndrome can be a very destructive disorder if left unchecked. It can turn positive moments into negatives and put a dampener on an individual’s work…  Read more

Budget 2018

Phillip Hammond has delivered the Budget and promises that the end of austerity took center stage along with some brighter forecasts. What did it all mean for the business owner though? We have looked through the information and here is a summary of the Budget that will affect businesses: Business Rates Reform It has been announced by Phillip Hammond that £1.5bn would be injected into the UK business rates system…  Read more

Mindful Management

Being an effective manager requires a strong work ethic and the ability to guide those on your team to work toward success. Taking a more mindful approach to managing your team can help you to bring out the best in people. Mindfulness can be defined as a “psychological process of bringing one’s attention to experiences occurring in the present moment”. Many people use mindfulness as an approach to self-improvement and…  Read more

Can co-working spaces work for you?

Co-working spaces were once the preserve of freelancers and creative types. Now medium to large sized businesses are getting in on the act too. The modern workplace is evolving. First we had flexible working. Then we had remote working. Now we are seeing an increased demand for co-working spaces – workspaces which are shared by people who don’t all work for the same business. So why have co-working spaces become…  Read more

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