When responsibly undertaken, a business loan is a great way to raise capital for your business quickly to ensure that you can cover expansion or periods of uncertainty. As with all loans, you must be prepared to pay it back with interest as instructed by your lender. There are several steps you can take to…
During a recession, you’ll want to make sure your business is secure and organised enough weather the crisis. We’ve prepared a guide for actions you can take during and in preparation for periods of economic downtime to protect your business from a dreaded slump. With diligence, forethought, and professional advice, you can steer your business…
In times of economic downturn, businesses across the country face challenges as spending habits decline and competition increases. When it comes to social media marketing, businesses are able to boost their online presence in a time where it may be most necessary. The world of online marketing can be a powerful place which, if utilised…
In the world of business, facing customer complaints is an inevitable reality. No matter how hard you try to provide an unbeatable service, it is near impossible to keep everybody happy all of the time. It won’t be uncommon for those negative reviews to strike an element of irritation, but the way in which you…
As a small business owner, you work incredibly hard to make sure your clients are delighted with your services and that your employees are satisfied in their work. Late payments make your job even more difficult. If you’re not being paid on time by your customers, it impacts your own cashflow and can make paying…
Expenses can be claimed for by your company employees when they make a business purchase using their own money. They can keep their receipt and make a claim on this business expense so that they can be reimbursed. Keeping receipts means that as a business owner, you can claim tax relief from HMRC. You can…
Petty cash is a small amount of cash that is kept aside and made available to a business to make small, unplanned, and one-off purchases. It should be stored in a locked box or drawer, with a trusted employee charged with managing it as a custodian. Typically, petty cash is used to pay for minor…
Changes to Corporation Tax from 1st April 2023 Legislation has been introduced to set the main rate for Corporation tax to 25% from 1st April 2023. A small profits rate will also be set at 19%. The small profits rate of 19% will apply to profits below the lower limit of £50,000 – companies with…
If you are a business owner, particularly the owner of a new business, a business loan could make the difference and allow you to secure important inventory or equipment, helping you to take the next steps in growing your business. When applying for a business loan, the application process involves multiple steps, so you should…
As your business grows you will need to register for VAT with HM Revenue and Customs (HMRC). This is a legal obligation that most companies with more than £85,000 of taxable turnover must comply with. While this can seem like a daunting process, our handy guide makes it as easy as possible. What do I…