Many businesses are finding the restrictions imposed to manage COVID-19 an increasing challenge. Whilst your focus is clearly on retaining customers and maintaining trading; you must also prepare to return to your workplace. It may not be uppermost in your mind that your insurers will expect businesses to be, and continue to remain, compliant with […]Continue reading
Category Archives: Tectona Ten – Business Planning
If you don’t know where you’re going, then you might not start improving. A company that isn’t improving is moving backwards. Learn more about business planning here.
105. Strategies to Survive in an Uncertain World
The Brexit turmoil rumbles on and businesses continue to grapple with an uncertain future. Trading agreements, political unrest and lack of leadership mean it’s extremely difficult for business leaders to predict where and how business can take place, what barriers there may be, and how the decisions of other businesses may impact their own. Business […]Continue reading
79. In Manufacturing – why Waste your time Tilting at Windmills?
The UK is only just recovering from one of the longest slumps in history. Throughout the recent tough economic downturn well known brands from both manufacturing and retail industies have suffered terribly and some were lost or restructured – think Woolies, HMV (as we knew it) or the entire British steel industry. Despite the weak […]Continue reading
58. Are You Burning Money Because Of Poor Financial Management?
Proper financial management is not a luxury when it comes to running a successful business; it is essential if your organisation is to maximise profits and give you a high return on your investments. Therefore, you should attempt to make it a critical aspect of your company’s planning and processes. To achieve this you need […]Continue reading
53. To Invest Or Not To Invest? How To Answer That Question
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 […]Continue reading
51. To Employ or Contract Out?
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 […]Continue reading
49. Interest rates will rise but when?
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. […]Continue reading
48. Watch out for those start-up bear traps
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 […]Continue reading
47. How do you collect cash owed to you?
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 […]Continue reading
44. Contract terms – did you read the contract before signing? No, m’lud, they were too long and boring!
What do good contract terms and conditions look like? “And did you read the contract terms before you accepted them?” “No, m’Lud, they looked very long and very boring and life felt too short.” This defence might meet with some sympathy in a dispute over an on-line retail purchase; but in the commercial world, business […]Continue reading