5 Reasons Why You Should Keep Cash Reserves in your Business Bank Account

The Essential Role of an Emergency Fund in Your Business The only certainty in business is uncertainty!   This is why an emergency fund is not merely a buffer, but a strategic asset for any business and particularly for small businesses. Here are five compelling reasons why establishing and maintaining an emergency fund is crucial: 1. Managing Unexpected Expenses Unforeseen expenses are a common reality in business. Whether it’s a sudden…  Read more

The 2024 Budget: What It Means for You and Your Business

The 2024 Budget: What It Means for You and Your Business The UK government has just unveiled its latest budget, and there are some important changes that could impact your personal finances and business operations. Let’s break it down in simple terms: For Your Household: National Insurance cuts:  The rate of employee’s NICs has been reduced by another 2% down to 8% now.  It was previously reduced from 12% down…  Read more

Work Your Assets – How to buy all of Manhattan!

Take Einstein’s Advice Our only point here is to encourage you to get the best savings rates for your cash balances.  With the best interest rates, you can harness the power of Compound Interest.  Now, over to you Einstein:   “Compound interest is the eighth wonder of the world. He who understands it earns it; he who doesn’t, pays it” – Albert Einstein.  (FYI, I’d probably today change the pronouns…  Read more

6 ways to increase E-commerce Sales

6 ways to increase your E-commerce Sales For any E-Commerce business, having the right products and doing adequate marketing are essential.  However, don’t forget that having a well designed e-com website can also help maximise your transaction value.   Site design is also the one thing many e-commerce retailers find the hardest to solve.  Product range can be solved easily, agencies can help you with your marketing but having an…  Read more

New Corporation Tax Rates and What This Means for You!

New Corporation Tax Rates from April this year One question we get asked a lot is ‘Will the Corporation Tax Changes affect my tax bill?’ Well, from 1 April 2023, your corporation tax rate will be a changeable rate somewhere in the band from 19% to 25%.  The exact rate depends on the profits made by your business. This could mean a change to what you will owe in tax…  Read more

Tax tips for new business owners

Want to avoid paying more than you should come tax time? Or a frantic last minute search for missing financial records? New business owners have a lot on their plate, and can easily lose track of an approaching tax deadline or financial data needed to submit their return. Organization is key when preparing for tax time. As is taking advantage of the many tools and resources out there to support…  Read more

Differences Between an Accountant and a Financial Planners

When it comes to managing your finances, there are two professions that can help you understand your numbers, and ensure you have a plan to get to where you want to be. Accountants and financial planners can both play an important role in your financial success, but there are some important differences between the two. For any successful business, it’s advisable to have both an accountant and a financial planner…  Read more

The three most important financial reports

While many small business owners prefer brainstorming new ideas to pouring over financial reports, getting a handle on financial analysis can be remarkably empowering. Taking the time to regularly review financial statements can help you assess and improve current performance, avoid risk and make scalable plans for future growth. Protect your company’s financial health by learning your way around these three financial reports. Cash flow statement The cash flow statement…  Read more

6 Essential Accounting Terms for Small Businesses

Hiring an accountant is widely considered best practice for small business owners.  But delegating financial analysis and reporting doesn’t mean completely checking out of the process each month or quarter. On the contrary, it’s recommended that business owners work closely with their accountants throughout the year to better understand their financial position, and make smart plans for future growth. Want to increase your accounting knowledge so you can have more…  Read more

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