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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The UK’s not in recession, but is it going to be? With the difficulty in trying to find skilled labour, pressure on wages, industrial strikes, supply chain problems and massive inflation we might just be heading for one, or at best, a stagnant economy. Furthermore, for businesses dealing with the fallout from Brexit, the economic … Continued
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On 15 March 2023 the Chancellor of the Exchequer delivered his Spring Budget. The Chancellor began by describing his speech as a “Budget for Growth”, saying he would deliver on an aim to make the UK one of the most prosperous countries in the world by removing barriers to investment, tackling labour shortages, breaking down … Continued
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There are five main steps to getting accreditation: Making the decision to go for it Are you looking for new customers? Are they familiar with ISO 9001? Is there an expectation you’ll hold the accreditation? Are you keen to increase customer satisfaction? Do you need accreditation to get through a tender process? Are you planning … Continued
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To begin, this is a sad tale about a subcontractor in the house building industry, they had to fix their prices to win contracts, but didn’t put measures in place to help better protect them. At a decent margin of 40%, even with price rises of 5 – 10%, they should have made decent money. … Continued
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If you have any concerns about your business or tax affairs in the coming months, please get in touch with us. Business Rates Business rates in England will be updated from 1 April 2023 to reflect changes in property values since the last revaluation in 2017. A package of targeted support has been announced to … Continued
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Following on from Part 1, where we looked at why your business may need finance, the costs and risks of finance and how to position your business as ‘low risk’, in this blog we’ll look at: What are the alternatives to borrowing? There are many options that you can seek before turning to borrowing finance: … Continued
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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
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