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Business growth presents a huge challenge for small business owners. Sustainable growth requires careful forethought and preparation; you can’t build a solid house on shaky foundations. It’s easy to get swept up in all the excitement that accompanies business growth, but remember to take the time to prepare and organise your business to ensure that your growth is sustainable. The last thing you want to do is to end up damaging the business you have worked so hard to build. Let’s take a look at how to prepare your small business for sustainable growth.
- Accounting
Money leaks are often small amounts of money leaving your business when they do not need too. Unfortunately, while individually they cause limited disruption this can build into something larger. Even if you think you’re in tip top shape it is always good to monitor and examine these leaks to ensure you and your business are making the most amount of money possible. Most of these leaks are easy to plug but are likely to require some time to change and implement. Despite this with the boost to your profit you will be glad you did it.
- Accounting
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 are several things to check, either on the year-end date, or before the end of your company’s financial year. Some tasks are simple administrative processes, while others involve a deeper dive into your accounts. But, on the whole, this is about getting on top of the planning and making sure your year-end is as hassle-free as possible.
- Accounting
A cash flow statement finds out the inward and outward flow of money in a business and therefore acts as a bridge between the income statement and balance sheet. The change in cash per period, as well as the beginning and ending balances of cash, are present in a cash flow statement.
- Accounting
Process standardisation is a clear and repeatable way of doing a given task. This should be written down in a concise manor and easy to understand. Ideally this process will be the most efficient method of doing the task with an optimal outcome. In reality this may take some time to achieve but in the meantime it’s a predicable route to achieving a consistent end product or services.
Having clearly defined method of doing tasks has a range of benefits that we will explore in this post, benefiting staff, employer, and customer. So not exactly a minor win.
- Accounting
With inflation over doubling this week from 0.7% – 1.5% this is a good time to explore how to combat its effects. Because while this may be good news for the economy as things open it is not purely a result of increased demand from reopening. Supply shortages across a range of key products are also causing issues, from computer chips to oil, Covid has had a deep impact on these supply chains.
With this in mind this article will lay out methods you may choose to employ in order to reduce potential negative impacts of inflation and maximise benefits.
- Accounting
Business finances can be overwhelming between the jargon and confusing breakdowns, unless of course you’re a finance professional, it can be task that is easy to put off. Despite the temptation “do it tomorrow” this will cause your all kinds of issues further down the line. To manage your businesses health here are 6 key steps to starting the process. Don’t worry it is never too late to get things tidy but it can prove challenging to do so.
- Accounting
Business finances can be overwhelming between the jargon and confusing breakdowns, unless of course you’re a finance professional, it can be task that is easy to put off. Despite the temptation “do it tomorrow” this will cause your all kinds of issues further down the line. To manage your businesses health here are 6 key steps to starting the process. Don’t worry it is never too late to get things tidy but it can prove challenging to do so.
- Accounting
Historically digitising a business was expensive and the move from paper was a painful time-consuming process. Now however it is a MUST.
Technology will enable your team to be more productive, more agile and make them happier through streamlined and automated processes. Digitising is no longer a choice in many industries, even going to the shop the new tills and credit card readers look and work better than predecessors. Not only making employees happy but improving customer experience, not to mention happy staff = happy customer.
- Accounting
Historically digitising a business was expensive and the move from paper was a painful time-consuming process. Now however it is a MUST.
- Accounting
Everyone knows they are different roles but outside the profession who knows which is which? In this article we will explain what the roles are and how they are linked.
- Accounting
It is easy to think as a small business that you can “put off” hiring an accountant and to be honest you can. This does mean that you could lack support in a variety of areas and hinder your growth. So while yes short term expenditure would be saved it is at the cost of long term money in your pocket! Your account should, I say should because this will not be true everywhere, be a vital tool in your journey. No matter how hard we try we cannot master all disciplines and much like you have knowledge only a pro would of your industry so do accountants!
- Accounting
The Government have a number of schemes that you could potentially take advantage of or are subject to change in the not to distant future. Below is a quick summary of the schemes including Furlough, Self-employed grants (SEISS), Lower VAT rates, Recovery Loan Scheme, Restart Grant, Business Rates Relief and a deeper dive in VAT deferral.
- Accounting
As we celebrate International Women’s Day 2021, we’re using this opportunity to interview our Founder and CEO Sharon Broer to gain insight into her career path to founding Argus, the challenges she overcame and her dedication to uplifting other female entrepreneurs.
- Accounting
Many businesses have pivoted to full remote working in the wake of Covid as it has proved to be as effective in many cases, at least in the short term.
As we go through lockdown number 3 and many of us are back to working from home after a short period of being back in offices, we thought it would be useful to share some tips and tricks on limiting the impact of this financially.
Potential increases in costs include more electricity, broadband and heating. This also includes any adaptations made to your home as many have moved from kitchen tables to desks and more appropriate chairs.
In this blog we will explore both using your home a full-time office and being a employee who is temporarily working from home because of the pandemic.
- Accounting
As a small business owner, it can be tempting to ignore the bookkeeping and accounts in favour of more exciting aspects of the business. Unless of course you are and accountancy firm. While most tasks thankfully for you can be completed by other parties with minimal input, there are some task that are required. To make the most of out your bookkeeping and make the process smooth there are some basics to know.
These areas are:-
Knowing this information will save you money as your books will take less time and will get you more value for money. This is because the more you understand about your businesses books the more you can utilise them to make informed business decisions.
- Accounting
Bookkeepers are the unsung heroes of the financial world, and without excellent bookkeeping good accounts are impossible. Consequently, running a business is a far greater challenge. Additionally, a bookkeeper has several direct impacts on a business not simply improving the quality of financial reporting.
Irrespective of a business size bookkeepers play a vital role. For the sake of this article the focus will be the benefits to small businesses and their owners. We will explore the direct impact bookkeeping can have, some more indirect influences down to the basis’s of keeping you compliant.
- Accounting
In this article we will explore the relevance of location when picking and accountant, bookkeeper or business adviser. Firstly, exploring the good old days and how advisers were chosen and the impact of technological advancements. Then, unsurprisingly, we will look at the effect Covid-19 has had to speed up the changes that were already in motion. Consequently, the current pro’s and cons of an online business relationship will be reviewed. To conclude, some predictions for what the future will look like regarding the relevance of location.
- Accounting
STAT OF THE ARTICLE
According to the Small Business Report, 60% of small business owners feel that they might not have enough knowledge about finance and accounting.