Profit margins are the be-all and end-all of running a business, and with so many expenses coming from every angle, it can be a huge challenge to keep things cost-effective. 82% of small businesses fail because of cash flow mismanagement, which goes to show just how important it is for a business to maximise their income and minimise their output.
Startups face the unique challenge of translating passions and ideas into repeatable profits. If you want to scale your business successfully, you need systems that support your goals. The great news is that with today’s technology, you no longer have to rely on manual processes and spreadsheets as your business grows. There are many powerful tools available that offer agility-boosting features for a price that won’t break the marketing budget.
Here’s a closer look at the top 5 marketing tools that your startup company should (and can) invest in early on to support your business goals as your grow.
Your personal resolve to keep up that workout routine might be fading, but it’s never too late to make achievable resolutions for your small business! January is still an excellent time to review your progress in the previous year, and think about what goals you want to achieve in the coming year.
Emily Coltman FCA, chief accountant at award-winning accounting software FreeAgent, suggests six straightforward resolutions to help your small businesses bloom in 2018.
What is Self Assessment and how might it affect you as a business owner? Emily Coltman FCA, chief accountant to award-winning online accounting software provider FreeAgent, explains all.Continue reading →
For a business looking to get the most out of office floorspace, an element of sharing can make perfect sense. After all, why pay to accommodate workstations that are empty for much of the time? But employees can sometimes be less enthusiastic, and the culture of possession (“This is my seat and my desk”) can be hard to shake off.
You want flexibility, but equally, you don’t want hotdesking and other forms of space sharing to turn your workforce into an army of disgruntled nomads. So here’s how your choice of office and working practices can prevent that from happening… Continue reading →
Did you know that 73% of UK employees don’t use up all of their annual leave? That means that only a quarter of us are actually making the most of our time off allowance. It’s no wonder that more people than ever are reporting feelings of burnout, listlessness and tension at work.Continue reading →
If you’re thinking of structuring your business so that it enjoys the benefits of limited liability, you have a choice of three different options; a company limited by shares, a company limited by guarantee, or a limited liability partnership.
Emily Coltman FCA, chief accountant to award-winning online software provider FreeAgent, explores the difference between these three.Continue reading →
Whether its clients “forgetting” to pay, stalling for time before settling their bill – or sometimes just deciding not to pay you at all – having to chase up money that’s rightfully yours is frustrating and time-consuming. And the problem of late payment is more widespread than you might think – the UK government estimates that small firms are currently owed around £26bn in late payments, while the process of chasing debts costs these businesses millions of pounds more. Continue reading →
In the first part of our interview Lord Young gave his opinion on what makes a great entrepreneur and his most recent initiative, Start Up Loans – and how it has created opportunities for small businesses which did not exist before. In this week’s post Lord Young gives his views on the possibility of a tech giant emerging from the UK and what he thinks of the EU (amongst various other things). Let’s get started. Continue reading →