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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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
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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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What do people mean when they talk about Markup and Margin? Why is it important to know the difference? And how can you measure them to help get better results in your business?
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Who likes to party and join in with the Hokey Cokey? With today’s U-turn from Chancellor Jeremy Hunt, it would seem like it’s the Government’s favourite Covid lockdown dance! Here’s a brief, but important, recap of the key points Jeremy Hunt made in his televised address.
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Are you worried about the economic downturn? There are some things you can do to protect your business from the effects of recession. Discover them here
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