Planning your Exit Strategy

Posted 18th April 2019 at 8:42 am

However enthusiastic you are about your business, no-one wants to run theirs forever! At the very least, business owners will want to enjoy some years of retirement after all their hard work, and some people may want to cut ties with their business well before that stage. Some may prefer to go back into employment, or decide that they want to explore a new venture and start their entrepreneurial journey all over again. Whatever your reason for leaving your business, you will need a suitable exit strategy, which will be closely linked to your motivation for leaving. If it is... Read more

Choosing the right business strategy

Posted 12th April 2019 at 1:10 am

When preparing to grow your company, you need to consider which business strategy will best fit your needs, and the aims within your business plan. Some strategies are linked to cost & pricing, while others are linked to innovation and adaptation, and some emphasise quality and excellence, but all of them have the potential to grow your business if applied correctly.   Cost & Pricing Strategies Some of the cost strategies that businesses might employ include undercutting their competitors – delivering an equivalent quality but at a reduced price – or offering a no-frills version of their competitors’ products and... Read more

Growing your business through social media

Posted 5th April 2019 at 9:59 am

There’s no denying that in the modern age, social media is a significant part of people’s lives. According to The Telegraph the average person in the UK spends more than a day a week online, and if your customers are hanging out on the internet, you’re going to want to be there too. Like any form of marketing, social media needs careful thought if it is to be used effectively for your business, so here are our top tips for maximising the potential of social.   1. Don’t let it take over your life Particularly important if you are a... Read more

5 Tips to plan your year-end tax

Posted 15th March 2019 at 2:47 pm

The end of the financial tax year is fast approaching. How can you make sure you use the available tax exemptions and allowances before 5 April 2019? This week we’re taking a look at some allowances and services to help you make the most of your money before this year-end.   Income Tax The tax free personal allowance for 2018/19 is £11,850 and the next £34,500 is taxed at 20%. 40% is charged on £46,350 and income above £150,000 has an additional rate of tax of 45%. You may be able to reduce your tax liabilities if your income is... Read more

New rules for IR35 – What you need to know

Posted 8th March 2019 at 2:51 pm

  The government has now published new guidance on the proposed reforms to the off-payroll working rules (IR35) for businesses in the private sector, which is due to apply from 6 April 2020. The new policies will be adapted from the existing legislation for IR35 in the public sector which launched on 6 April 2017 and will clarify the obligations of businesses hiring workers and those involved in the supply chain. It’s important to note that any changes in this area will apply to both public and private sector businesses from April 2020.   Who will be affected? From the... Read more

Is AI Good for Business?

Posted 1st March 2019 at 3:43 pm

Artificial Intelligence technology is probably one of the biggest trends for 2019. AI however has had a bad rap over the years with concerns on whether workers jobs could be put at risk due to AI implementation. Some say that the development of new technologies will lead to a new revolution in the world of work and though there have been some concerns, some experts predict that the changes will have little effect on employment. Rather that those in work will need to adapt heir skills to manage and maintain the new technologies.   Is AI something that businesses should... Read more

How to weather the Brexit storm

Posted 22nd February 2019 at 2:47 pm

The constant news of Brexit and the struggles within the government to settle on a deal has had a profound effect on the confidence of many small business. Many businesses have halted their plans for growth due to the confusion still surrounding the looming breakup of the UK with the EU. This is likely to continue until we officially leave on 29 March and maybe to some degree, will do for some time after this. But is there something you can do to protect your business? This week we take a look at some actions business leaders can take to... Read more

Make the most of your business

Posted 15th February 2019 at 2:36 pm

Running a business is complicated and stressful and probably takes up the majority of your time just to keep it going day to day. So it’s no surprise that thousands of SME’s are not making the most of some of the tax reliefs available to them, when it’s hard to find the time to even think about it. This is where we can help. We have put together a handy guide for all you busy bees on how you can take advantage of tax reliefs to better benefit you and your business.   Get Organised Start the year afresh with... Read more

How Is Wellbeing Affecting Workplace Performance?

Posted 8th February 2019 at 3:54 pm

According to recent research, around half of UK employees have changed their jobs because of work related frustration and stress. This has also led to an increase in workers calling in sick due to the implications of their job role and work environment. Not only are these factors affecting employee wellbeing, but they could be having a damaging effect on your business. Respondents of the research stated that the main source of their workplace stress was having to chase colleagues for updates and a lack of clarity by management when ask to complete a task. These issues can be easily... Read more

Annual Investment Allowance Temporary Increase

Posted 1st February 2019 at 2:59 pm

As announced in the Budget 2018, legislation has been introduced in the Finance Bill 2018/19 to temporarily increase the Annual Investment Allowance from £200,000 to £1million. The changes will be in effect from 1st January 2019, until 1st January 2021 when it will revert back to £200,000. The AIA, in effect, enables businesses to be able to claim immediate relief for expenditures, as it enables the business to deduct 100% of qualifying capital expenditure up to the AIA limit for the chargeable period when calculating profits. There are some excluded expenditures such as expenditure on cars. Although a claim is... Read more