Put simply, profitability is a measure of your business’s success over a specific time period, for example over a month, a quarter or a year, and if your business is profitable, it should show that your sales exceed your costs and overheads. However, this is mostly an accounting perspective and doesn’t always translate to immediate … Continued
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Are you puzzled by what your accountant declares as profit generated from your business and the lack of cash showing in your bank account? You’re not alone! In this blog post, we’ll unravel the mystery behind what your business accounts report and what is actually deposited into your bank account. We will explain how you can navigate … Continued
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In today’s ever-changing economy, business owners and financial managers face many challenges. One big challenge that can affect your profits is when interest rates continue to climb and no one knows when it will hit its peak. At Wessex Commercial Solutions, a Chartered Accounting firm nestled in the scenic areas of Devon and Somerset, we … Continued
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Recurring income, also referred to as residual or passive income, is earned by creating or acquiring an asset that continues to pay you income regardless of whether there is still active work being done to the asset. Every Business Owner’s dream! Even so, a lot of Business Owners haven’t managed to acquire or have thought … Continued
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Pricing is an art form, and is very dependent on market conditions and your ability to service that market. When costs go up the natural reaction is to say “I need to increase prices” but is this right or even possible sometimes? It’s definitely not “one-size-fits-all”, you don’t price the same way for everything. It … Continued
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We set out steps to consider before you take on business finance.
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We look at the basics of a cashflow forecast, and the apps which can help.
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