Good vs bad: making the right debt choices

Debt is sometimes seen as bad business, but it can be a great way to gain a competitive advantage by providing the capital needed to seize opportunities that the company couldn’t normally afford, such as inventory or a large piece of equipment or taking on much needed help. However, how much debt your business takes […]

Can you really run your own business?

What sort of person are you? Do you like to act on impulse or do you normally consider all the angles before making a decision? If you belong to the first category, no doubt you have enjoyed the fun and the excitement of doing something on the spur of the moment. However, if you want […]

HMRC’s Good News for Micro Business Owners

Keeping up with changes in the law which affect micro businesses is not always easy. Today I want to highlight some good news which is mainly available to self-employed individuals. You may not be aware that accounts and your Self-Assessment Tax Return should always be prepared on what is known as an “accrual basis”. This […]

A crash course in cash flow management for micro businesses

Sifting through the assortment of failed micro businesses, time and time again you’ll see that poor cash flow sowed the seeds of failure. If mismanaged, poor cash flow can cripple a business. If you want to come out of tax year 2013/14 in a better financial state than you came into it then, you’re going […]

Five ways to get keep your finances on track in tax year 2013/14

As you’ve probably recognised, tax year 2013/14 could turn out pretty tumultuous. As such, you’re going to need to be on top of your financial game this year. Being lax with tax and forgetful with your finances just won’t do. Mess up, and you could face a multitude of fines or even worse, end up […]

Pension Auto-Enrolment: the good, the bad and the ugly

This article is aimed at micro businesses with employees, outlining how to comply with pension-auto enrolment. If you’re a freelancer you may still be affected, your legal structure amongst other things impacting upon whether you’ll need to comply. It’s quite complex so contact the pensions regulator to clarify. The Office for National Statistics has projected […]

What did the 13/14 budget mean for micro businesses?

Just under two weeks ago, George Osborne arose in the Commons to deliver his fourth budget, designed to build an ‘aspiration nation’ and help those ‘who want to get on’. As such, this year’s budget carried some good news for the UK’s micro businesses, Osborne appearing eager to ease up some of strains facing SMEs. […]

How Can You Comply With RTI?

Amongst the mass of changes I went through yesterday, you may remember me mentioning RTI. Ushered in on April 6th, it’s set to shake up payroll, altering the way many micro businesses do their bookkeeping. So much so in fact, I thought I’d best devote an article to it. Opinions of it are polarised, HMRC […]

Calculate Your Hourly Rate With This Freelance Billable Rate Calculator

Just how do you set your freelance rates? In this pricing series we’ve talked about the importance of price v value, the significance of pricing for your target market and the confidence needed to value your worth. But just how do you translate that into an actual figure? Here’s one option. If you run a […]

Here’s A Technique To Attract Customers Who Will Pay You More

What difference would it make to your business (and your lifestyle) if customers paid you more? This might feel like a pipe dream, especially given the current economic situation and an increased expectation to get stuff for free. However, it is a goal that is achievable if you put in place the right strategy and […]