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Tax

Buying commercial property through a pension scheme

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

Business Strategy

5 important business negotiation strategies

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

Business Strategy

Business tips: Getting in control of your spending

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

Business Strategy

Business tips: Making it easier to get paid

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

Business Strategy

Business tips: Budgeting and managing cashflow

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

Business Strategy

Getting the best return from trade shows

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

Business Growth

Business Tips: Setting KPIs and measuring performance

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

Business Strategy

Considering business insurance? What cover do you need?

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

Business Strategy

Business tips: Outlining your ideal customer

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

Business Strategy

Do you need to complete a self-assessment return?

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

Tax

Back to Tax Basics: How does PAYE work?

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

Business Strategy

Coping with the skyrocketing cost of living

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%

Tax Strategy

Spring Statement 2022: Your summary of the key points

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

Tax Strategy

What are the benefits of lifetime gifts?

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

The Customer Buying Decision
Business Strategy

The Customer Buying Decision

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

Business Strategy

Business tips – Scaling up your business and workforce

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

Loans and Grants

Quick tips: What are statutory payment rates?

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

Tax Strategy

What is rent-a-room relief?

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

Business Strategy

Spring Statement 2022: Your summary of the key points

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

Tax Strategy

What are the benefits of lifetime gifts?

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

The Customer Buying Decision
Business Strategy

The Customer Buying Decision

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

Setting up the compliance foundations
Tax Strategy

Setting up the compliance foundations

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

Business Strategy

Business tips: Outlining your ideal customer

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

Tax Strategy

What is rent-a-room relief?

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

Business Strategy

Business tips: Hiring employees for your startup

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

Business Strategy

High inflation: What does it mean for your business?

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

Tax Strategy

Company year-end preparations: time to get ready

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

Business Strategy

Do I need a remuneration strategy?

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

Business Finance

What’s your net worth?

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

Business Strategy

Business tips: Writing a mission statement

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

Business Growth

Marketing and promoting your new business

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

Business Strategy

How much time should you spend on strategy?

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

Business Strategy

Defining your business idea

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

Blog

How’s your work-life balance?

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

Business Growth

Understanding your revenue drivers

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.

Business Strategy

Are You Suffering from Business Burnout?

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

Blog

Welcome to 2022!

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

Business Growth

5 tips goal-setting tips for the year

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

Blog

Christmas gifts for your customers and team

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

Business Growth

Does your business need an app?

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

Blog

B2B tips for working with big companies

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

Business Growth

Using the Value Ladder to increase sales

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

Business Growth

The difference between directing and leading

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

Business Finance

5 FUNDING OPTIONS FOR START-UPS

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

Business Strategy

SUCCESSION PLANNING: A WILL FOR YOUR BUSINESS

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.

Business Finance

Can Residential Property Fund Your Retirement?

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

Business Finance

5 Personal Finance Hacks To Start Now

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

Blog

Key Drivers To Boost Profitability And Cash Flow

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

Blog

Seven Ways To Improve Workplace Productivity

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

Business Growth

Gain Customer Loyalty And Retain Them For Life

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.

Business Strategy

FIVE EFFECTIVE RISK CONTROL STRATEGIES

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

Blog

TIPS FOR UPDATING YOUR BUSINESS PLAN

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

Blog

THE WORST BUSINESS ADVICE TO FOLLOW

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

Business Growth

USING SMART GOALS TO ACHIEVE MORE

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

Business Growth

IDEAS FOR BUSINESS GOALS THIS YEAR

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

Business Growth

Growing Your Business Without Borrowing

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

Blog

How Accounting Mistakes Can Hurt Your Business

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

Business Strategy

Prepare a business plan for COVID-19 recovery

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.

Business Strategy

Battling Through COVID-19: Finance Tips for Business Survival

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.

Business Strategy

The top 10 time wasters

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

Business Finance

Are accountants a cost or an investment?

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

Covid-19 Ready

Small Business Rate Relief and other Grants

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

Covid-19 Ready

Furlough Scheme extended in UK

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

Business Growth

The Invisible Force That Brings Disorder

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

Covid-19 Ready

Job Support Scheme in UK

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

Covid-19 Ready

Claim tax relief for your job expenses

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

Digital Business

Does your business have a CRM tool?

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

Covid-19 Ready

How to get £5,000 Small Business Technology Grant

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.

Business Finance

5 Tips To Managing Your Small Business Finances

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