Business

To understand the financial position of a business at a specific point of time, look at the balance sheet. The balance sheet may also be called the statement of financial position. Together with the Profit and Loss Statement, and possibly other reports such as the Statement of Cash-flow, these reports provide a complete understanding of the financial position...

Having a company car used to be seen as a considerable perk. But in recent years it’s become less clear whether having a conventionally powered company car as part of your income mix is a good idea – both from a tax perspective and from a sustainability angle. The good news is that electric vehicles (EVs) are now...

Keeping your business operational is a full-time job. It’s a balancing act that requires you to keep a multitude of plates spinning, while your executive team and employees support you at every stage of the operational journey. But what happens if these plates stop spinning? Sudden unexpected threats can catch you on the hop. What if an unexpected...

Consumers are driving the trend towards sustainable business practices, voting with their pounds to support greener companies.  The Global Sustainability Study 2021 found that: 63% of consumers have shifted their spending toward being more sustainable in the past five years, particularly younger consumers.Half of consumers rank sustainability as a top 5 value driver.34% of consumers are willing to pay more...

When setting up or growing your business, you’ll need access to new equipment, tools and vehicles. This usually means accessing finance to either buy or lease these new assets. It’s easy to get confused between hire purchase (HP) and lease rental (LR). The names lenders use aren’t always helpful, and the tax and VAT treatments are very different. ...

Holiday breaks are a chance to recharge for the year ahead especially after the year we have had. We look forward to warmer weather and finally setting up an out-of-office email for the break. However, for business owners, this time is a stressful without careful cash-flow planning. Even if you do continue to operate through the holiday season,...

While it is refreshing to see that the number of small businesses in the UK is slowly rising, the unfortunate fact is that the number of failing businesses is also on the rise. Of course, this could be due to many factors, but one of the biggest reasons is that some of these small businesses do not know...

As a business owner, you’ll be looking for every opportunity to claim back expenses and minimise your tax liability. But not everything that falls under expenses is tax-deductible. To give you a better understanding of which costs are allowed and which are not allowed, we’ve highlighted the main areas where business owners habitually trip up with their expense...

Starting a business and managing your finances at the same time can be overwhelming! If you don't get help early on, your business might fail. The early days of running an organisation are often very challenging, and this is made worse by the need to keep on top of your finances. The financials can become complex very quickly....

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 there and gradually expanding over time. Scaling up aims to accelerate this process, pushing your growth to move beyond that slow, organic pace. To achieve...