Whilst financial management is at the heart of a business’s success, many business owners make errors that can cost them significantly. To help prevent you from making the same mistake, this month I share 7 of the most common errors that you want to avoid.
As a small business owner, plotting the way forward can often seem like a maze of numbers. The seemingly endless maths exercises needed to manage the financial side of things effectively can take time, but they are essential to long-term development. Discover and understand the numbers that run your business.
Customers will typically spend 10-30% more in shops that take cards than they will in those that take cash only. Many customers carry little or no cash so you could be losing customers by not accepting cards. Discover the facts about taking card payments including the pitfalls to avoid.
It’s a question that’s very often on the lips of our clients and it’s certainly a very fair question too. After all, none of us want to pay too much tax if we can avoid it. Knowing how to extract cash from your business in the most tax-efficient way possible is key for any sole trader or limited company.
By the end of 2017, shops and other small business employing less than 50 people must sign all their employees up to a company pension scheme – a process known as “auto-enrolment”. If you haven’t already got a company pension scheme, here’s a guide to everything you need to know about auto-enrolment.