Why breakeven analysis can be illuminating
If you focus your energy on sales, there is a chance that your efforts will produce losses. Which is why we always encourage our business clients to keep their accounting records using software that automatically produces monthly management accounts
Back of an envelope
If you run a business and manage your planning by scribbling notes on the back of an envelope, you might be advised to read the contents of this article.
When the economy is vibrant, effectively when there are an abundance of buyers in your
Cash flow v supplier credit limits
In a recent article we explained how granting lengthy credit limits to customers was as good as letting them keep your money in their bank account.
In this post we describe the opposite situation, where you are granted longer terms to pay bills from
New company reporting regulation withdrawn
The Government has withdrawn draft regulations after consultation with companies raised concerns about imposing additional reporting requirements.
Instead, the Government will pursue options to reduce the burden of red tape to ensure the UK is one
Cash flow v customer credit limits
If your business grants a customer time to pay – say 30 days – after the services or goods supplied have been delivered, effectively, your money stays in their bank account for 30 days.
Further, if you have incurred costs regarding a sale, that have
Repeat business
Once you have secured the attention of a customer that has purchased their initial goods or services from you, you have completed the hard part – converted a prospect into a buying customer – so don’t be afraid to follow up with cross-sales
Recurring sales
Most business owners will appreciate the difference between one-off sales, and services that are generally described as recurring.
For example, you may sell a laptop (a one-off sale) and then bolt on a support contract (a recurring sale).
The
Government to support action against late payers
Most smaller businesses will have spent time chasing customers for payment beyond their agreed payment terms.
These demands take entrepreneurs away from their core tasks of business building and place unnecessary pressures on cashflow.
To assist,
Charity Trustees Quiz
The Charity Commission has launched the next phase of its trustee campaign which aims to increase charity trustees’ knowledge and drive a positive change in charities’ governance.
The campaign encourages trustees to check what they know about their
Help for businesses launching new AI
Organisations across the country will be able to demonstrate that their new artificial intelligence and digital innovations meet regulatory requirements so they can quickly bring them to market.
In their press release published 19 September 2023,