Wondering if you’re doing everything you can to boost revenue and cut costs? Or if your business is actually more profitable this year than it was last? The best way to answer these questions is with a thorough assessment of profitability. That’s where gross and net profit calculations come in. These are two of the…
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The new chancellor, Kwasi Kwarteng, has delivered his mini-Budget and announced a string of tax cuts to ‘deliver growth for the economy’. Read on to find out what the announcement means for small businesses. Cuts to National Insurance A 1.25 per cent cut to National Insurance has been announced, reversing the tax hike Boris Johnson introduced to…
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Managing cash flow is a vital part of running a successful business. Some business owners think managing cash flow simply means keeping track of how much money enters and leaves their business, but there’s actually more that goes into it. Cash flow forecasting, for example, is an incredibly valuable tool that helps you anticipate cash…
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Cash is the life blood of any business. In fact, even profitable businesses can and do fail because of poor cashflow. What’s important is that you understand your key drivers of cashflow. Improving cashflow is often all about changing your business’s processes, for example, how you order stock and pay for it, how you bill for your…
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When you own a small business, it’s vital you understand how money flows into and out of it. At a basic level, you need to know where your income comes from and what your expenses are. At a deeper level, knowing how money moves through your business can help you make strategic decisions about growth,…
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