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Blog

Specialist Tax: Capitalise on your assets

Posted 29th June 2020 at 11:44 am

capital allowances

Over half of UK businesses will not have claimed their entitlement to Capital Allowances which could be worth hundreds of thousands of pounds. In this second of a series of specialist tax scheme blogs, we look at how you can claim capital allowances.   When can you claim capital allowances? You can claim capital allowances when you buy assets that you keep to use in your business. In most cases you can deduct the full cost of these items from your profits before tax using annual investment allowance (AIA). If you sell the item after claiming AIA you may need... Read more

Specialist Tax: Rewarding innovation in science and technology

Posted 13th June 2020 at 11:57 am

specialist tax

It’s fair to say that the last few months haven’t exactly been great for business, and most of our finances could do with a bit of a boost! It’s possible that individuals and businesses are missing out on claiming tax benefits for specialist tax areas, just because they are little known or not well understood. In this first of a series of blogs, we look at some of the different types of specialist tax schemes that your business might be eligible for.   Research & Development (R&D and RDEC) Companies carrying out qualifying R&D activities can claim significant corporation tax... Read more

The Rise of Automation after Covid-19

Posted 10th June 2020 at 10:30 am

automation

The business world has been preparing for increasing use of automation for decades now. As technology advances at a rate unseen in any other century, the potential to automate processes and even entire roles, offers an opportunity for businesses to cut costs and save time. While the Covid-19 crisis has stopped many businesses present and future plans in their tracks, the one thing that hasn’t been negatively affected is automation planning. In fact, with the need for social distancing and hygiene, and the prospect of a recession on the horizon, many businesses are bringing their automation plans forward. Pre-pandemic, the... Read more

Package Holidays after Covid-19

Posted 1st June 2020 at 3:29 pm

package holiday

For many of us, a cheap and cheerful getaway to sunnier climes is a major highlight of our year. Unfortunately with non-essential travel currently banned, a week or two of all-inclusive fun with no worries except nabbing the best positioned sun lounger doesn’t seem to be on the cards any time soon. Travel operators are currently planning towards restarting operations in July, but even then a holiday would be followed by a 14 day quarantine period when arriving back in the UK. Some countries such as Spain have also introduced quarantine for overseas visitors, meaning that you could need 6... Read more

E R Grove & Co named Mayor’s Community Champions

Posted 30th May 2020 at 1:40 pm

The West Midlands Combined Authority (WMCA) Mayor’s Community Champions initiative recognises individuals and organisations who have acted as ‘community heroes’ during the Covid-19 crisis. We at E R Grove & Co are delighted to have been recognised for our work keeping the business community informed about government support systems for businesses and individuals feeling the impact of coronavirus. You can read more about why we were chosen as Mayor’s Community Champions here.

Creating a marketing strategy for your business

Posted 26th May 2020 at 8:52 am

marketing strategy

Marketing is much more than the shiny, branding side of your business. When done right, it can help to drive you forwards towards your business goals, becoming money well spent. That’s why it’s so important to have a long-term strategy for your marketing, rather than creating campaigns and adverts on the fly. Below we look at the key processes for creating an effective marketing strategy. The main thing to remember is that your marketing strategy should not be created in isolation. It should be firmly rooted in your overall company goals for the year, so that it is effective, strategic,... Read more

Drive your business forward with Market Research

Posted 19th May 2020 at 8:36 am

market research

As business leaders, we often think we know our market really well. Sometimes that is true, but things change and it’s always good to spend some time now and again researching our market. This prevents us from making assumptions that unintentionally undermine our business. It also helps us to identify new opportunities to grow and expand our business.   Competitor Research You may think you know everything about your competitors. However, the real information you need is how your customers view your competitors! Once you’ve identified all your competitors, and their competitive edge (USP) then it is really worthwhile spending... Read more

Creating a Risk & Contingency Strategy

Posted 11th May 2020 at 8:29 am

risk

If recent times have taught us anything, it’s how quickly our normal way of life can change! For businesses, the need to have spent some serious thought on risk analysis and contingency planning has never been more important. While it’s never possible to completely risk-proof your business, as navigating the extreme measures of the COVID-19 global lockdown have shown us, it is always worthwhile coming up with a plan to mitigate for risks that might derail our businesses in the future.   Risk Analysis Risk analysis is the process of identifying and analyzing potential issues that could negatively impact businesses,... Read more

Pivoting & Repurposing a Business

Posted 6th May 2020 at 5:49 pm

It is no secret that Covid-19 has had a big impact on many SMEs in the UK. A recent study by the Office for National Statistics showed that nearly 40% of businesses in the UK had a substantially lower turnover. With the current level of disruption likely to remain for some time, many businesses are adapting their practices to continue trading in some form. For businesses which have been negatively impacted by Covid-19 and are considering how to adapt, they have two main choices: Continue trading – providing the same product / service in broadly the same way to the... Read more

How will coronavirus change working practices?

Posted 27th April 2020 at 3:43 pm

After almost 6 weeks of lockdown, companies and employees are used to the ‘new normal’ of remote working. But what will the lasting impact of coronavirus be on the way businesses are run?   Business Travel  With travel restrictions likely to remain in place long after lockdown has eased, companies are facing a long period of using video conferencing technology to keep in touch with clients, suppliers, and colleagues across the world. While these technologies are no substitute for building relationships face-to-face, businesses are likely to see that they can save money and time by taking at least some of... Read more