Financial Tip

  • What’s the MEANING behind The Numbers?

What’s the MEANING behind The Numbers?

The meaning behind The Numbers strips bare the facts on implementation within your business.

Your profit number is the result of the activity behind that number. If you want to improve the profit number, look closely at all the activities that impact on sales, margins, overheads.

Successful business owners are passionate about “The Numbers”. But, the funny thing about the numbers is that they […]

  • 32 Bookkeeping: the first building block

Bookkeeping: the first building block

Successful business owners are passionate about “The Numbers”. But, the funny thing about the numbers is that they must be accurate and up-to-date, otherwise they are of no value.

The first building block of accurate financial data is your bookkeeping records. Within your business the workflow process and data entry rules must be designed to consistently capture all the transaction information, […]

Protect your business from Carillion fallout

Financial loss and business disruption is inevitable for a number of suppliers and subcontractors who will be hit by the collapse of Carillion. We encourage all business owners to contact us to review how this business tragedy will affect their own business. We can then help each business to prepare a plan to protect their financial and trading stability.

Most business […]

Ban on personal credit card surcharges

As of January 13, 2018, businesses will be prohibited from adding surcharges to recoup transaction fees on purchases made using a personal credit card. One of the first organisations to impose this ban is HMRC. As of 13th January 2018 HMRC will no longer accept personal credit cards as a method of paying tax bills.

The surcharge ban extends to bank […]

Increase of automatic enrolment contributions

Many employees and employers need to prepare for a significant increase the cost of automatic enrolment minimum pension contributions. For example, based upon the Average Weekly Earnings, seasonally adjusted, for a private sector worker (£503 pw as of July 2017), the employee’s minimum monthly contribution will increase by £33.80 per month, and the minimum employer’s increase will be £16.90 per […]

Want to improve the financial stability of your business?

Improve cash management.

Debtors and creditors contain the most important source of cash-flow for businesses operating within B2B Sectors. Improve your management of the debtor-credit balance and you improve the cash position of your business.

Forecast anticipated cash-flow.
Measure actual cash-flow.
Take action based upon variations between forecast and actual.

If you are new to forecasting, or are very short of time, […]

Small businesses need to prepare for increased VAT bills as of 1st April

The VAT Flat Rate Scheme is welcomed by many small business owners because it simplifies the record keeping and calculation requirements associated with their quarterly VAT bill.

Although the VAT Flat Rate Scheme will continue, as of 1st April, HMRC is introducing a new system which will increase the amount of VAT payable by many businesses using that scheme.

HMRC defines a […]

Improve the profitability of your business by satisfying your customer’s values

If you want to grow much faster than your competitors you need to satisfy your customer’s value system.
Companies that scored high on four or more elements had recentrevenue growth four times greaterthan that of companies with only one high score (on the NPS system for measuring customer satisfaction).
Source: The Elements of Value. HRB September 2016.
It seems self-evident that satisfied customers will buy […]

Return of multi-generational households. Time to re-think?

The surprising findings contained in a new report on household demographics may cause you to reassess your long-term business and personal plans.

As property prices rise, multigenerational households are predicted to grow in popularity over time. A new report from Aviva suggests that based on the rate of growth seen in the past 10 years – and assuming house prices will […]