If your business operates from owned or rented premises, it’s worth thinking about using your pension fund to acquire the property. Owning this property through your pension scheme has some considerable tax advantages
When you decide to get married, tax planning is probably fairly low on your list of romantic requirements. But making use of the Marriage Allowance can actually reduce your tax bill by £250,
Business negotiation is a world of contradictions. You’ve got to be firm but flexible. Open and sharing, but a little cagey. There’s a lot to get your head around. But your state of
One of the best things about online shopping is instant, hassle-free payment. Enter your details, click, and you’re done. If your customers can make an instant online payment, they’re likely to pay you
Rewarding your valued employees is a great way to keep them happy, engaged and motivated. When a member of staff clocks up an employment milestone, you want to show your appreciation for all
Keeping the business in a positive cashflow position is vital. But you can only do this if your cash inflows (sales revenues and other income) outweigh your cash outflows (overheads, supplier costs and
Making sure you get paid on time is crucial to your success. The process of making sales and generating revenue lies at the heart of any business model. But you can’t manage your
If you want to stabilise your finances and grow the business, working to strict budgets becomes a necessity. Managing the cashflow twists and turns of a project can be hard work. But it’s
Covid-19 restrictions put a hold on trade shows for a couple of years but many industries are putting them back on the calendar. Trade shows can be a great place to showcase what
In 2021, retail e-commerce sales amounted to approximately 4.9 trillion U.S. dollars worldwide, according to research by Statistica. At the same time spending at physical stores has dropped. While that was strongly influenced
Once you begin trading, you’re faced with a new challenge – successfully managing the course of your brand-new business and making sure it’s a profitable enterprise. It’s easier to manage your startup’s sales
When you’re operating a trading business, it’s sensible to think about business insurance. Whatever kind of business you’re running, there’s always going to be a certain element of risk. What if a client
Customers form the beating heart of your startup. Without a stable customer base, you can’t generate sales, bring in income or create a viable business model. So, it’s vital for your new business
If you’re self-employed, a partner or a company director, then HMRC will ask you to submit an annual self-assessment tax return. However, every year will see some people failing to register on time
Having a vehicle to use for business purposes adds to the efficiency of your business. But should you opt for a company car or a company van? Company vans are taxed in a
Once you become an employer, you’ll need to set up a pay-as-you-earn (PAYE) scheme. All businesses that employ people earning above the National Insurance (NI) lower earnings limit (£123 per week) must register
Whether it’s refilling your petrol tank or paying at the supermarket checkout, the higher cost of living is hitting every household hard. Across the world, everyday essentials are surging in price, up 7.2%
The Chancellor, Rishi Sunak, delivered his Spring Statement on 23 March. Faced with the task of creating a ‘strong economy’ for the UK, against the challenging background of high inflation, rising costs and
If you’re thinking of gifting assets to your family and friends, it can be a good idea to do this during your lifetime. Giving the gift during your lifetime reduces the value of
It’s a common misconception that price is the most important factor when it comes to customers making a decision to buy. However, in the service industry at least, it’s simply not true. These
Scaling up your business isn’t about steady growth over time. It’s about having a clear strategy for quickly expanding the business to achieve full-scale hypergrowth. Most startups grow organically, adding customers here and
We’re looking forward to seeing you at our complimentary webinar, Attracting and Retaining Talent, on DATE at TIME. Don’t forget to: Block it out in your calendar. Add the webinar details and join
When you’re an employer, there are various times where you’ll have to pay your employees during a leave of absence. They might be ill and in need of Statutory Sick Pay. Or they
Renting out a spare room in your house is one way to bring in a little extra income. But did you know that you can claim rent-a-room relief rather than calculating the actual
As your accountant, we won’t just look after the financial side of your business, we can also advise you on the strategic side of your company, including the importance of business development as
Businesses that have clear objectives or goals, robust accountability and a shared sense of purpose should always outperform those that just show up and go through the motions. Strategy lies at the heart
If you are ‘pressing go’ on your new business, what are the key elements to have in place before you begin trading? The complexity of your operational model will vary greatly, depending on
Business costs are on the rise as we near the second quarter of 2022. Supply chain costs are increasing, energy prices are rising and labour costs are getting more expensive. These soaring costs
The Chancellor, Rishi Sunak, delivered his Spring Statement on 23 March. Faced with the task of creating a ‘strong economy’ for the UK, against the challenging background of high inflation, rising costs and
If you’re thinking of gifting assets to your family and friends, it can be a good idea to do this during your lifetime. Giving the gift during your lifetime reduces the value of
In 2021, retail e-commerce sales amounted to approximately 4.9 trillion U.S. dollars worldwide, according to research by Statistica. At the same time spending at physical stores has dropped. While that was strongly influenced
It’s a common misconception that price is the most important factor when it comes to customers making a decision to buy. However, in the service industry at least, it’s simply not true. These
CONTENT To trade as a business, you need to meet the right compliance requirements. It’s certainly not the most exciting part of creating a business, but setting up the right legal, accounting and
Customers form the beating heart of your startup. Without a stable customer base, you can’t generate sales, bring in income or create a viable business model. So, it’s vital for your new business
Renting out a spare room in your house is one way to bring in a little extra income. But did you know that you can claim rent-a-room relief rather than calculating the actual
When setting up your new venture, the people you hire may well become the most important assets in your business. They’re your trusted workforce, the face of your new brand and the people
High inflation is hitting businesses and households hard in 2022. Across the world, inflation is running high, thanks to factors like pandemic disruptions, monetary stimulus and supply-chain issues. You’ll see the effects of
As your company year-end date gets closer, there are a number of administrative and financial tasks to start planning for – so it’s a good idea to get yourself organised and ready. There
Did you know that if you don’t pay your taxes on time, HM Revenue & Customs (HMRC) can charge you interest on your late payment? HMRC can use its powers to charge
As an owner-manager, your chief concern will be making your business profitable and building up cash reserves in the company. But you’ll also want to be able to extract funds from the business
Calculating your net worth can be a quick and easy way to get an outline of your financial position. By working out your net worth each year, you can get a sense of
You’ve had your initial business idea and written a plan. But do you know WHY you’re creating this business, or HOW you’ll deliver your end product/service? What will the company’s underlying purpose be
Even with the best products and/or services in the world, you won’t make many sales if your intended customers don’t know about your business. To raise awareness of your brand and to kickstart
We see many business owners, who work tirelessly in their businesses and are excellent at what they do, neglect their strategy and execution plans. It’s the old adage: I’m too business working in
When you’re a small business owner, sole trader or freelancer, asking for payment on overdue invoices can be a delicate matter. Without an accounts person or department, sometimes you’re trying to secure new
Having that Eureka moment when you cook up a great new business idea is a great moment. You’ll be full of ambition and eager to begin building your startup. But once you’ve had
When you start using social media to market your business, it’s important to focus on the big hitters – social media giants like Facebook, Instagram or LinkedIn are all obvious target platforms (depending
It’s great to be the boss – you can work any hours you like, right? Unfortunately, for many business owners, that means long hours, plenty of stress, and very few breaks and
For your business to make money, you need to generate revenue. You produce revenue through your usual business activity, by making sales, getting your invoices paid, or taking cash from paying customers.
The last two years have been demanding and exhausting for many business owners. Are you one of them? The challenges have been relentless, and we know many small business owners have had
We’ve made it through another year of Netflix binges, Zoom meetings, mask-wearing, and copious amounts of sanitiser. Who knows what 2022 will bring us, but no matter what happens, we’re here to support
Wouldn’t it be great to have your best year ever, this year? Whether you want to grow your business or take more time for yourself, these goal-setting tips can help you achieve your
With the development of technology and social media, distraction is the new normal. A recent study found that a typical office worker gets just 11 minutes between interruptions, while it takes an average
It’s probably been a while since you made New Year’s resolutions. For many businesses, the challenges of the last couple of years have been enough to keep us busy, so we are not
Christmas is nearly here, and it’s a great time to let your customers and team members know how much you appreciate them. But this has been a tough year – it’s not easy
Mobile apps have revolutionised how we live, organise and track our lives. The average smartphone user now has 35 different apps on their device, showing not just the variety of different apps out
Chasing big B2B accounts is easier than ever in a globally connected market, but what are some of the challenges? There are some key things to consider when entering into a B2B relationship with a big client.
#managementstrategy #smallbusinesstips
One of the best ways to increase sales is to use the Value Ladder to build a relationship with your customers. The higher the customer values their relationship with you, the more money
There are 10 departments in every business, no matter how small. These are: Shareholder. Director. Leadership. Product / Service Development. Operations. Marketing. Sales. Finance. Admin / IT. HR. Many business owners
A question I get asked all the time is: ‘What can I take out of my business?’ and ‘how do I save more tax?’ Well, the quick answer is, ‘there’s up to 32
For a number of years now I’ve been operating across a range of businesses. Therefore when I look at the 32 ways I’m looking at it in that context. For me, money management
If you’re looking to grow your business, you might consider expanding your service offerings. Adding additional services is a good way to increase your profitability, diversify your income and expand your market. But
Balancing customer experience against your budget is a difficult task. You need the right amount of staff working to keep customers happy, but not so many people that workers are standing around looking
Starting a business means you’ll be in competition with other companies that already exist. It’s actually a good thing if you have competition to go up against. Competition pushes you to be innovative.
Starting your own business requires enough capital to ensure you can pay your bills until your company turns a profit. Depending on the type and size of your business, you may need thousands
The unfortunate reality is most business owners don’t take proper holidays. Usually this is because their business relies on them and they don’t have the support to keep the business running without them.
After several delays, the VAT domestic reverse charge for construction services is due to come into effect on 1 March 2021. If you’re not sure what this means for your business, read on
Thinking about retirement can be stressful. You need to plan for how long you think you’ll be retired, what lifestyle you’ll want to lead, and approximately how much you’ll pay to maintain your
Knowing the value of your business is vital should an unexpected buyer come along, and the timing is right for you to sell. You’ll want to get the best price you can so
Having total control over your finances can give you an amazing sense of freedom. However, it takes a lot of discipline and hard work for you to be able to achieve this. In
Businesses in the retail, hospitality and leisure sectors will receive a one-off grant worth up to £9,000, the Chancellor has announced, as England enters its third coronavirus lock down. Chancellor Rishi Sunak has
It’s important to identify and monitor the key drivers of your small business to boost profitability and cash flow. Boost profitability by recognising your key drivers Identifying the key drivers of your business
The success of any business, large or small, depends largely on nurturing an efficient, productive workplace. While improving employee productivity should be always be a priority when the ultimate goal is a sustainable
The daily processes and transactions involved in operating a business can mean long hours of repetitive tasks and occasional oversights due to human nature. Automating these tasks can result in significant savings in
Long-standing customers form the backbone of a strong, well-established business. Make it your mission to ensure that the vast majority of your current customers stay with your business for many years to come.
Dealing with risk is an inherent aspect of business management. The way you prepare for risk is the most important factor in determining the longevity of your enterprise. Businesses of all sizes have
1. Build credibility quickly Why should people buy from a new business? Your first challenge is to overcome their doubts by building trust and credibility quickly. Some tips: Promote your skills and experience,
Think of your business plan as a roadmap designed to point the way to your current destination, knowing that where you land may not be your ultimate endpoint. After all, things are constantly
Very few small businesses have a huge marketing budget to work with. Fortunately, there are a number of simple, free, and low-cost ways to get the word out about your company that are
When you’re a small business owner, you get used to people giving you advice. Sometimes you seek out their insights while other times they share whether you want them to or not. While
As a small business owner, you’re likely always looking for ways to achieve more. Maybe you made a New Year’s resolution about it. You might have resolved to make more money, find more
The start of the year is the perfect time to dust off last year’s business plan and set some new goals for the future. While some entrepreneurs love planning, others feel overwhelmed by
Taking out a business loan may be your first plan of action for financing business growth. But there are excellent reasons to consider other options for finding capital to expand your business. For
Many small business owners tend to handle their own accounting and bookkeeping, especially when they’ve just started out. However, keeping track of the finance-side of the business– everything from income to expenses to
Businesses in the retail, hospitality and leisure sectors will receive a one-off grant worth up to £9,000, the Chancellor has announced, as England enters its third coronavirus lock down. Chancellor Rishi Sunak has
Now is definitely a good time to revisit your business plan for the next year. We know that writing a plan can feel like a big effort so we have created a template to make it easier.
While there has been a lot of talk on how to avoid contracting the virus and how businesses can operate safely to adapt to the current conditions, this article will focus on helping you manage the financial aspects of your business to survive COVID-19. Read on for our tips on cushioning the impact on your business.
Lack of clear goals. Start by setting clear 12 month goals, then break these down into 90 day goals. Your actions each day should be steps towards achieving those 90 day goals, which
As accountants, we’re always helping our clients find ways to reduce their overhead costs – one of the seven ways to grow your business. Did you know that your accounting fees are an
As you can imagine as a result of recent announcements, we at Fortuous are extremely busy and we are trying our very best to assist as many of the business as possible. The
Over the weekend, Boris Johnson announced a second national lockdown to take effect from this Thursday until 2 December. In light of this, the furlough scheme, which was due to end on 31
So many things are wrong in any business at any time and how ever well managed it may be, the phenomenon of ‘entropy’ sets in immediately. (Entropy is sort of like Murphy’s Law
With so many small business owners struggling to access support, we wanted to make finding information easier. Now you can answer 11 quick questions and government support checker will tell you what you’re
The Job Support Scheme (JSS) will open on 1 November and run for six months, until 30 April 2021. The government has said it will review the terms of the scheme in January
Working from home You may be able to claim tax relief for additional household costs if you have to work at home on a regular basis, either for all or part of the
If you are looking to exit your business or have a future plan to do so, you need a strategy. When you sell up, you want your business to have as much inherent
The UK Government is continuing to offer support to businesses as they wrestle with the aftermath of the ongoing Coronavirus pandemic and their latest offering is the Kickstart Scheme. This scheme is perfect
Having clean, up-to-date information and data about your customers is a vital part of running your business. But recording, tracking and accessing this customer information can be tricky if you don’t have the
The government announced that they will be providing £20m worth of grants for small businesses to upgrade technology. SMEs are now able to access a small business technology grant between £1,000 and £5,000.
In many countries all over the world, small businesses are crucial to the economy. That is more prevalent now than ever in the wake of the COVID-19 crisis. Now that lockdown measures have
