Thursday September 30, 2010 at 7:05pm
At the Liberal party conference Nick Clegg was the latest Government spokesman to talk about clamping down on tax avoidance. He even went on to talk about avoiding tax as being an ethical question. I’d say a bigger ethical question is how our taxes are spent by government. Indeed if people felt their taxes were being spent wisely and fairly they may have more time for the ethics of high taxation. What’s all the fuss about? It is probably worth looking at the distinction between evasi....
Tuesday September 28, 2010 at 12:15pm
We all know that running a business is not easy, only those who have never had to suffer the burden of responsibility to employees, family and the bank, would think business owners reap easy rewards. With the potential rewards come personal financial risk, stress and a very steep learning curve. The reality is that we pay a high price to be in business and sometimes it gets the better of us. When talking to clients in financial difficulty, the feeling of despair and failure is not uncommon. I qu....
Tuesday September 28, 2010 at 11:19am
With so many companies nowadays holding personal data, the greatest risk is often employee theft of this asset. Yet many businesses throughout the UK overlook employee screening completely.
In most organizations that PBD visit, screening is seen as a perfunctory activity that addresses the last employer and statutory right to work documents.
However there are robust British Standards available such as BS7858. This requires a full five year checkable work history, together with a financial pr....
Friday September 24, 2010 at 12:05pm
A recent survey from asset-based lender Venture Finance and Accountancy magazine found that 60% of accountants believe that a further increase in SME insolvencies is still to come. The economy is only showing tentative growth, and lots of smaller businesses are still struggling to keep their head above water. Most small businesses are currently focused on stabilising performance rather than growth and if they’ve built up debt in the depth of recession they may struggle to find a way o....
Tuesday September 21, 2010 at 4:50pm
If you are in a business partnership now would be a good time to consider whether you fancy running your business with your partner’s wife or husband. Strange thought? Maybe. But that’s what would happen if your business partner died and their spouse inherited their share of the business.Image this happens and they want you to buy them out but you can’t raise the funds? Chances are neither of you are going to be very happy with the situation. They will have lost a spouse ....
Thursday September 16, 2010 at 10:00am
I see the sales figures and profit and loss reports of enough SMEs to know that we can all benefit from free sales and marketing tips. How about these ideas from some of the best in the business?
Gate crash – when Stelios started Easy Jet his promotional tactic was to turn up at competitor event and give out his business cards.
Act like a customer – entrepreneur and erstwhile Dragon’s Den panellist Doug Richard is reputed to have got his ideas for improving the cus....
Monday September 13, 2010 at 4:32pm
In January VAT shoots up to 20 per cent. Now is a good time to decide how to present that increase to customers. Whether you add it into your price or factor it into your costs, make sure you are up front. Transparency wins customers’ trust and with that more business. If you are selling to the public or charities, housing associations or health care providers who can’t claim VAT back – now is the time to think about pre-VAT rise promotions, encouraging people to buy now and sa....
Thursday September 9, 2010 at 9:24pm
No doubt you have realised that times are tough at the moment. Customers are scarcer and they want to spend less or want more product or service for less money. The banks aren’t lending at the suggestion that you can easily borrow elsewhere if they say no. Their balance sheets are undercapitalised and lending targets have certainly shrunk regardless of what they say in public.
In such an environment it makes sense to move away from the seat of the pants approach to decision making. Gone ....
Wednesday September 8, 2010 at 9:53pm
Well it is a fair question that most of us would like to say yes to, but when put on the spot we find we stumble and don’t have all the answers. Some of the more common questions asked by the Dragons are: “how can you convince me there is a market for your product”, “what sales have you made this year so far”, “what is your forecast profit this year and next”, “who would buy this product” and “how much profit do you make on each sale&rd....
Thursday September 2, 2010 at 3:41pm
It’s an unfortunately fact of life but you or your business could face a tax enquiry at any point, often through no fault of you or your accountant. HM Revenue and Customs (HMRC) have the power to start an enquiry at any time, and they don’t have to give any specific reason for doing so! For the tax payer or business owner there’s worry and confusion. “What’s the tax man looking for?” “What have I done wrong?” “What will they find and will I ....