Blog

Payments on Account: due date approaching

Posted 10th July 2023 at 10:12 am

payments on account

Payments on account are advance payments towards your next Self Assessment bill. You will need to make payments on account if you complete a tax return and your last tax bill under Self Assessment (ignoring any Class 2 National Insurance that you paid) was £1,000 or more, unless at least 80% of the tax that you owe is collected at source, for example, under PAYE. Each payment on account is 50% of the previous year’s tax and Class 4 National Insurance liability. You must make the first payment on account by 31 January in the tax year (together with any... Read more

Find A Grant service launches

Posted 4th July 2023 at 1:39 pm

The government has launched a digital service for organisations applying for government grants, which could save up to £270m over the next two years Find a Grant will make it easier for organisations to access government grant funding, as well as reduce duplication and cut time spent on grant applications by 72%. According to the Cabinet Office, the new digital service could save up to £270m through efficiences and fraud prevention. In addition, the service also intends to level the playing field, with 43% more funding awarded to organisations in the north of England. Currently most departments that provide grant... Read more

HR Challenges: Retention, engagement, and diversity

Posted 27th June 2023 at 2:19 pm

In today’s competitive marketplace, attracting and retaining top talent, fostering employee engagement, and managing workplace diversity can be complex issues that require a strategic approach.   To start with, recruiting and retaining talented employees in the current market is a major challenge for many small and medium-sized businesses. While you may not be able to offer the same salary and benefits packages as larger firms, there are several ways to attract and retain top talent.   For example, you could consider offering unique employee benefits that align with the values of your business. These could include flexible working arrangements, paid... Read more

Empowering businesses for success: Porter’s Five Forces Model

Posted 15th June 2023 at 1:51 pm

In today’s fiercely competitive business landscape, it is crucial for organizations to gain a comprehensive understanding of the industry they operate in and the forces that shape it. Porter’s Five Forces Model, developed by renowned strategy expert Michael E. Porter, provides a valuable framework for analysing and assessing competitive dynamics. By examining five key forces, businesses can identify opportunities, mitigate risks, and strategically position themselves for success. In this blog, we will explore how businesses can effectively use Porter’s Five Forces Model to gain a competitive edge.   1. Threat of New Entrants: The first force examined in Porter’s model... Read more

Is your website accessible and inclusive?

Posted 14th June 2023 at 11:34 am

In our highly digitalised business world, creating a website that is accessible and inclusive is no longer just an optional add-on, but rather a crucial element for success. Not only does it ensure that all users can access and navigate your content, but it also sends a positive message about your brand’s values and commitment to creating an inclusive experience. Here are some approaches that can help you make your website more accessible and inclusive:   Alt text for images Ensure that all images on your website are accompanied by descriptive alternative text. Alt text provides a textual description of... Read more

Can you create more ‘productive’ time?

Posted 6th June 2023 at 1:34 pm

productive

For many small business owners, one consistent issue is that there is simply not enough time in the day to achieve all the things that need to be done. Have you ever got to the end of the day, having worked non-stop for the entire day, and still found yourself thinking “what on earth have I achieved today?”  If the answer is yes, then you might need to consider some strategies to free up some time for productive and focussed activities.   Strategy 1: Do Not Disturb! All too often we come into our business premises with a list of... Read more

Achieving work-life balance

Posted 29th May 2023 at 5:04 pm

work-life

The concept of work-life balance has become increasingly important in recent years, as people recognize the need to maintain a healthy balance between their professional and personal lives. Achieving a work-life balance can be challenging, but it is essential for our physical and mental wellbeing. The term “work-life balance” refers to the equilibrium between the time and energy spent on work and the time and energy spent on personal activities such as hobbies, family, and leisure. The idea is to achieve a healthy balance between work and personal life, so one can be productive and happy in both areas.  ... Read more

Finance Reading Recommendations

Posted 22nd May 2023 at 4:42 pm

book

We all know that reading can be one of the best tools for self-improvement, but busy people often lack the time to find the right book to read, let alone read it! Our guide below rounds up some of the most useful books about managing your finances, to get you one step closer to finding the book that you need.   The Richest Man in Babylon by George S. Clason This classic book offers practical advice on personal finance and wealth building through a series of parables set in ancient Babylon.   The Total Money Makeover by Dave Ramsey This... Read more

Knowledge Transfer Partnerships

Posted 15th May 2023 at 4:34 pm

Knowledge Transfer Partnership (KTP) is a funded programme that connects businesses with academic institutions to help companies access the knowledge and expertise needed to drive innovation and growth. KTPs facilitate the collaboration between businesses and universities to develop new products, services, and processes and improve existing ones.   The KTP programme typically involves a three-way partnership between a business, an academic institution, and a recent graduate, known as a KTP Associate, who works within the company to implement new ideas and knowledge.   KTPs offer several benefits to businesses, most notably unrivalled access to academic expertise, including cutting-edge research and... Read more

Rise of the Machines: Future-proofing businesses and jobs in the age of AI

Posted 8th May 2023 at 4:27 pm

AI

Artificial Intelligence (AI) refers to the ability of machines and computer programs to perform tasks that would typically require human intelligence, such as visual perception, speech recognition, decision-making, and problem-solving. AI technologies include machine learning, natural language processing, computer vision, robotics, and others.   Overall, AI has the potential to revolutionise the way businesses operate. It can help businesses improve efficiency, reduce costs, and create new opportunities. The positive impact of AI on businesses is already being felt in various ways including: Automation: AI can automate many repetitive and tedious tasks, such as data entry, customer service, and accounting. This... Read more