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
Read More >
For many businesses, year-end accounts are a mere compliance requirement, completed long after the year has ended. However, relying solely on annual financial statements can be detrimental to the growth and success of a company. In this blog post, we will explore the limitations of year-end accounts, highlight the benefits of regular financial reporting, and … Continued
Read More >
Running any business comes with its fair share of challenges, and navigating the financial aspects can be particularly demanding. Many businesses find themselves in situations where they could benefit from the expertise and guidance of a Finance Director, whether it’s controlling costs, looking at pricing, improving profitability and cash, accessing funding, or making strategic decisions … Continued
Read More >
When you’re a business owner, you often find yourself juggling multiple responsibilities. You may wear the hats of employee, shareholder and director, all while being the person handling the day-to-day operations too. At Wessex Commercial Solutions, nestled in the beautiful regions of Devon and Somerset, we recognise the unique challenges you face. We understand that … Continued
Read More >
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
Read More >
We have all been warned not to ‘put all your eggs in one basket’ at some point in our lives. A playful warning to simply remind us not to rest all of your opportunity and success in one place! Never truer when it comes to customers for your business and making sure your entire business doesn’t depend … Continued
Read More >
Work in progress (WIP) is inventory that has begun the manufacturing process and is no longer included in raw materials inventory, but is not yet a completed product. On a balance sheet, work in progress is considered to be an asset because money has been spent towards a completed product. If you do not know your … Continued
Read More >
Let’s talk about cash in your business. As a business owner, there may be times when you think you need to raise finance. This is especially true when cash is tight or starts to dry up. However, there is lots to consider when borrowing money; such as the additional costs and risks to your business. … Continued
Read More > 