Looking at buying into a practice?
Starting your own optical practice from scratch is not impossible, but it does mean some real risks. Your new business could take months, or even years, to build up a big enough customer base to be profitable. It could mean a large investment in equipment, premises and working capital with no guarantee of return.
Boost your business confidence: Looking at Confidential Invoice Discounting
Invoice Finance can provide a financial lifeline for many businesses - but there are actually several different types of Invoice Finance available, and finding the right type is essential for you to find the solution for your needs. One of the fears that prevent some businesses from taking full advantage of Invoice Finance for their business is a concern about any potential impact on their relationship with customers - but a solution exists.
How to do a Profit and Loss Account?
Maintaining a business is hard work and requires constant attention, but in order to make sound decisions for the future, you need to have all the relevant information to hand. That’s why preparing a Profit and Loss account is so important. Without it, how will you know whether your finances can support further growth or if additional funds will be needed in the near future? Only by having all the facts at your disposal can you hope to make informed decisions, especially when it involves your business’ finances. So, how you do you prepare a Profit and Loss account, and what does it involve?
5 ways SME can improve their marketing
It’s one of the greatest challenges of becoming your own boss - just how do you attract more customers to your business? Naturally, the answer will be to develop an effective marketing strategy, but what exactly does that entail? As new techniques and technology become more widely available, the way which in UK businesses reach out to potential customers is growing increasingly more complex. In turn, customers now expect a lot more if you’re to get their attention. So as a small business owner, you now have to work even harder to draw them away from your competitors. Fortunately, you don’t have to spend a fortune on marketing, here are 5 low-cost ways of promoting your small business to a larger audience.
Can automation help your small business compete with larger rivals?
Competition is fierce for a small or medium-sized business but it may not be a level playing field. Larger companies have the scale and resources to corner the market and hire the best people, and to use the benefits of scale to reduce their costs.
How to Gain Capital to Start a Business
Starting your own business? Deciding to take the road less travelled and pursue your own success isn’t an easy choice to make. Yet if you have an idea that can be monetised and made to generate a profit, why not take the next step and explore where it may lead? After all, nothing ever worth doing was easy. However, passion and commitment can only take you so far. So as well as researching and developing an effective strategy to get the ball rolling, you also need access to enough capital to start up. But, rather than fall at the first hurdle like so many other UK startups, know that there are a variety of ways to generate capital for a new business. It’s just a matter of being prepared and knowing where to look.
Back from the brink: helping a business recovery with Invoice Finance
Even the most successful business can suffer when a large client takes too much time to pay - or a large customer goes bust with a big pile of outstanding invoices. Not having the cash coming in that you were counting on can trigger a cashflow crisis. In the worst cases, the failure of a major customer could take your own business with it.
What is a Profit and Loss Account?
As well as monitoring your day-to-day operations and preparing for the future, you also need to keep a close watch on how well your business is performing financially in real-time - in particular, how much money is entering and leaving your business - indicating whether or not it’s generating a profit. One way that both you and your accountant can ascertain this is by regularly maintaining an up-to-date Profit and Loss Account. So, what is a Profit and Loss Account and why is it so important to your business?
Keeping on top of your business tax
Are you prepared for your next tax bill? At the end of every tax year, businesses across the UK are required to pay corporation tax to HMRC or face receiving a penalty. Yet, despite being a vital responsibility, many business owners still find themselves struggling to keep up with this demand for various reasons. But there is a solution. Rather than defaulting with HMRC and potentially ending up in a worse financial situation, there is a specialised business finance solution that you can turn to. Designed to help business owners by supporting their finances and enabling them to settle tax obligations on time, you could gain access to a variety of funding products to support your corporation tax bill and stay on top of your business’ tax liabilities with Tax Finance.