Working capital management can be a complex field, but it simply can’t be ignored and is perhaps best broken down into individual segments. By taking control of each of these, you can make sure that you stay a step ahead of your competitors by making the most of Read more
Monthly Archives: November 2014
Were Business Entity Tests a failure?
In late October, HMRC confirmed that it is to scrap IR35 Business Entity Tests as of the end of this tax year. On its website, Revenues has admitted that the tests have been found to be both “used very little” and “not fulfilling their intended purpose”. So, what does this mean for contractors and Read more
Three ways to use the winter to increase profit
The encouraging thing about the business calendar is that all times of year offer some kind of potential to generate profit. In such sectors as retail, catering and anything that involves outdoor labour, the temptation is to Read more
How long is too long for a working capital cycle?
Provided that they make a return on what they hand over to their suppliers, most business owners are fairly happy, but have you considered that you may be losing money through the time it takes for you to pay your suppliers and for receivables to come into Read more
How to make profit on a day-to-day basis
SMEs sometimes struggle because their takings and outgoings every day fluctuate so vastly. A very good day, week or month could immediately be cancelled out by a loss-making one, or it could be that you come to rely on high-profit days to recover from lean spells. Ups and downs are a great vexation to company directors, and their ultimate aim will always be Read more
Five ways to avoid a false sense of security
Business owners have the importance of profit drilled into them from the moment they come up with their idea, but it’s not the be all and end all of entrepreneurial success.
Often, businesses fold simply because they Read more
Why should SMEs be surprised at their growth?
The latest report from the Close Brothers Business Barometer has revealed an interesting difference between the number of SMEs that forecast growth and the real statistics in UK business.
According to the findings, not even half (43%) of SMEs quizzed 12 months ago predicted that they Read more
Increasing profitability through hiring, not buying
One of the biggest mistakes made by directors is to assume that the best way to ensure their company is fully equipped is to own as much as possible. Whether it’s staff, services or equipment, the temptation is always to invest money into Read more
Driving forward with executive dashboards
With HMRC imposing demands on business owners to comply with Real Time Information (RTI) deadlines, it’s never been more important for decision-makers to monitor accounts as they go along and have a consistent understanding of Read more
Fitting the bill for SMEs
A matter currently being discussed at the House of Commons is the Small Business, Enterprise and Employment Bill. Put forward by Vince Cable back in June and set to be implemented in 2015, the bill aims to aid SMEs’ access to finance, tackle problems created by Read more