When it comes down to your customers, they each have a lifetime value. This value is important because it can help you determine just how much time and money to invest in acquiring a customer. With this information, you can do detailed budgeting and marketing avenues scrutinised to check they are worth the spend. So, […]
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The costs our businesses spend on research and development are often taken for granted; and worse still, from an accounting perspective, rarely classified as R&D. After all, some expenditure can be seen as wasted when we follow certain paths that don’t lead to a successful outcome. The Financial Act 2000, states that at least a […]
Continue readingMistakes help us learn and improve our businesses. While it is impossible for us to never make a mistake, you can limit the errors made by learning from others. Accounting mistakes from large businesses are often highly publicised and so much can be learnt from their experiences. So what are the three biggest accounting mistakes […]
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When you are making an investment, you need to know that you are going to make a return on the cash and time spent. If you don’t, you could end up making a loss which can have negative consequences on your business and on growth you intend to achieve. The wrong investment, as seen by […]
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When you are looking to tighten the financial aspects of your business it is always best to look for a quality Chief Financial Officer, or “CFO”. A person in this position must have particular qualities and you should have a certain vibe when you meet them. Otherwise you will find that the working relationship is […]
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Recruiting and maintaining staff can be one of the most expensive costs for your business. It isn’t just the wages that you need to consider when hiring staff. Making the wrong hiring decision can be disastrous. Therefore, it is important that you consider the hidden or forgotten costs of employing new staff. It is especially […]
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While the UK government is still consulting with experts on how late payment penalties should be enforced, there is a real danger that small and medium enterprises (or “SMEs”) could face financial trouble from slow payers and bad debtors. Research has found that UK SME businesses are owed £30.2bn and 85% of companies experienced significant […]
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In the summer of 2013, the Governor of the Bank of England, Mark Carney, stated that the Monetary Policy Committee would not consider increasing interest rates until unemployment was at 7%. At the time unemployment was at 7.8% and it was projected to take a couple of years to get down to the 7% target. […]
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I can safely say that a couple of my clients think I’m a pretty good guy; and for an accountant, that can be a slightly unusual place to be! The reason is embarrassingly simple. They are both CEOs of young businesses that have been going full steam for a year or so with the business […]
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A sale is not a sale until you have received the cash. Agreed? “Cash is King”. Not Shakespeare, I grant you, but probably quoted just as often. Profitability is one thing but it is a lack of cash in the bank that is the most common form of business failure – even for some highly […]
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