A business exists to make money, right?
Yes, that is true but is that the end of the story? Rarely, if ever. Moreover businesses that are set up for the sole purpose of turning a profit rarely prosper. On the other hand a business that does not give any return to its owner, is little more […]Continue reading ›
Surely this is a pie in the sky? And surely this has no place in an accountant’s newsletter?
Apparently not. Setting aside whether concern for one’s fellow human being has a place in an accountant’s ordered mind, research shows that a happy work force is is a productive one. A recent book ‘Practice what you Preach’ […]Continue reading ›
“If you can‘t measure it, you can‘t manage it.” So goes the quote from renowned management consultant, Peter Drucker. This was what 15 business owners gathered to grapple with in East Dulwich last night.
Ask most small business owners how their business is going and the response tends to be ‘Great, we’re really busy’ or ‘Not great, it’s really quite.’ The seminar […]Continue reading ›
We have picked out the areas with particular relevance to sole traders and generally taken together we feel the picture is mildly favourable. The stand out features of the budget are as follows:
Economic outlook: The Treasury predicts growth of 0.8% in 2012, 2% in 2013 and 2.7% in 2014. Inflation is predicted to fall from […]Continue reading ›
On Monday 27th Feb, seven enthusiastic small business owners met to explore the practice of using a set of accounts as a management tool.
Way back in the mists of time, accounts were prepared not to fill in tax returns but as a management tool. They were designed to tell the business owner what was going […]Continue reading ›
Business analyists looking at the financial health of a business will look at three areas – profit, cash flow and return on investment. To the average sole trader or small business owner that last one, return on investment, is a hazy concept at best. Profit is another story – most of us understand the focus […]Continue reading ›
Last night we had another successful seminar, this time themed on pricing.
The seminar is very powerful, mainly because most people do not realize the dramatic effect that price has on profit. We looked at a typical British business (based on results consolidated across the business sector by KPMG). The research shows that a typical business […]Continue reading ›
Having just spent the month preparing accounts for people, the issue of time as a resource keeps cropping up in my thoughts. The more I think about this aspect of a small business, the more I see it’s importance and the way it is neglected as a resource. Let me explain.
There are two main resources […]Continue reading ›
Continuing in my series of top tax tips for Sole Traders comes clarification on an old chestnut: claiming use of home as office.
The idea here is that as a sole trader you don’t rent an office but you use a part of your home. Therefore you put through a proportion of your household as as […]Continue reading ›
You may have noticed that tax avoidance by corporations and wealthy individuals has been steadily gaining public attention and moving up the political agenda.
It has been a rallying cry for the the Uncut and Occupy movements. Last year Barclays Bank was in the news when a startlingly low tax bill of just 1% was revealed […]Continue reading ›