Who are your debtors and who are your creditors? Though these terms are seemingly straightforward they can often be confused. It is important to understand that the debtor and creditor process can work in different ways, especially for small businesses. This article explains it all.
In short, Working Capital is defined as, “The capital of a business which is used in its day-to-day trading operations”. It is important for small businesses to understand what their working capital is in order to manage every day operations; it is the capital which you have to work with. Find out more...
Annual filings have taken a new shape and name; abridged accounts. For estate agents, this might mean than more information is available to collect on competitors from companies house. So what will this change actually mean?
Hiring new staff is and should be an exciting moment for any company. Just make sure you are paying them the correct salary. New rules have been enforced this year that you need to take into consideration.
It was revealed after the Spending Review that the Business Growth Service, which includes the GrowthAccelerator programme and the Manufacturing Advisory Service, would be wound down. The question is: why?
A bank loan or overdraft may be the traditional route to finance for a small business. But banks can be unpredictable and reduce your overdraft at short notice or impose steep interest charges or penalties for missed payments. There is another option to help release cash flow and working capital with invoice factoring.
This is the first Tory budget in almost two decades. Their majority win was in no small part down to convincing the UK they were the small business party. But yesterday’s budget was not good news for small business owners.
Small businesses need to scrutinise every cost, but cheapest isn’t always best. Never has this been truer than when hiring an accountant. Cheap small business accountants may represent true value for money, or they could cost you more in the long-run.
Accountants will always tell you hiring an accountant will save you money. But small businesses have to watch every penny; you need to know you’re getting the best service possible, and when you’re starting out, it can be hard to know what to look for. What makes good small business accountants?
At Accounts and Legal we get asked a lot of questions about accounting costs so we have compiled a list of the most common ones and answered them for you; from finding the cheapest accountant in London to cheap tax advice for small businesses we have got it covered.
Choosing a company structure is one of the first decisions facing small business owners when starting up.
There four choices available: Sole Trader, Partnership, Private limited company (Ltd) and Limited Liability Partnership (LLP), here we discuss some of the pros and cons.
Tips to help creative businesses to focus on the accuracy and timeliness of systems and identification of risks to allow them to make better commercial decisions, identify cost savings, better cash flow management and inevitably succeed.
We take a look at the rising star of the recruitment sector - tech.
With demand for skills outstripping supply, coders and programmers are choosing to go it alone rather than stick with permanent contracts - we look below the surface to understand how this is impacting on the recruitment industry.
Are you looking for a new small business accountant? It really doesn't matter where you live, thanks to new technology and software, you could hire an accountant from anywhere in the UK. Here's why an accountant in London is a good choice.
Industry regulator the Competition and Markets Authority is looking to improve competition and access to banking and this week released early recommendations before a full report is unveiled in August.
As a cost effective, flexible and scalable source of web traffic, AdWords has become a favoured advertising service for startups and small businesses. But are businesses in the UK required to pay VAT on their AdWords spend?
While the UK has better business survival rates than many other countries, more than 50% of British businesses are shut down within their first five years of trading. Whatever the reason, shutting down a limited company can sometimes be a complicated process.
The number of companies has grown by more than 50% in the past decade, but finding a small business accountant who will help you avoid becoming one the 12% of those companies who dissolve each year is not always easy.
As the UK continues to recover from the recession, and the government makes legislation more favourable to SMEs, more and more professionals are seeking to take charge of their own career and finances, opting to become self-employed.
If you’re a first-time entrepreneur starting a business in London, you’re entering one of the world’s toughest markets. If you’re going to make it, you need to understand some specific issues surrounding accountants, London, and your business.
Crowdfunding is not new, but new digital platforms have reinvigorated this democratic form of investment. With the banks reluctant to lend, we’ve seen a flurry of new businesses taking advantage. But which crowdfunding model is best: debt or equity?
Tax used to be a slightly annoying inconvenience. When I opened my monthly payslip, along with my colleagues, I’d tut over the amount of tax I had to pay and then get back to whatever I was doing. But now as a freelancer I have to face my tax demons head on.
Hiring a cheap accountant in London can cost you dear. In a city where people come to earn their fortunes, new businesses start, and equally, fail every day. But what is the difference between the ones with staying power and the ones who fold?
Corporate finance isn’t just for big business. If your business is built on solid foundations, you present yourself in the right way with solid financial forecasts and a robust business plan then there will, more than likely, be someone out there who will finance your business.
Understanding how your business performs is essential if an entrepreneur is to really take control of their business. We take a look at how we work with our clients to support them in achieving quality reporting and performance analysis even in small business.
It is the season to be jolly, in this article we explore VAT and Christmas markets. Who has to charge VAT and how much? If your thinking about trading at a Christmas market this year read on to find out what you need to know.
Accounts and Legal see business from every market and sector. We have recently seen a rise in the number of Amazon drop shippers we decided to investigate what they are and why more people are doing it.
Accounts and Legal are not like your usual accountants, we can also help you raise finance for your business, help you with business growth, market research and digital marketing. In this article we introduce to your our recently appointed business consultant Louis Lines, and how the team can help your business.
In a small business’s early days the business owners may loan money to the company when other sources of funding are hard to come by, but as the company grows they may want to temporarily take money out of the business through a Director's Loan.
Many new businesses struggle to raise startup capital until they have proven their business model and gained some traction. When funding is hard to come by capital requirements are often funded by loans from company directors, which are then repaid as the new company begins to generate revenue. Here's how it works...
Money comes in; money goes out. Managing your cash flow may seem as simple as subtracting your outgoings from your income, but in fact it’s much more complicated. Follow these six steps to keep your cash flow healthy!
Online crowdfunding has drastically improved small businesses’ access to finance. We spoke to our delightful clients, Alice and Fleurette, co-founders of Attollo Lingerie, about their Kickstarter campaign to find out why they chose gift crowdfunding in particular, and how to do it.
All small businesses need good accountants. Businesses in London face the toughest competition, and need the best support. But there are hundreds of accountants vying for your attention; how do you choose the right one for your business?
Businesses across the UK often keep their search for an accountant local, mostly for convenience but also because they can be cheaper than city accountants. But nowadays, when everything can be done remotely, and with more standard pricing, might hiring an accountant in London be better for your business?
Although it may be completely unrealistic to make your customer swear marriage vows it is possible to build a lasting relationship where they promise to be loyal if you promise never to deliver less than the original attractive deal.
In 2013 a survey carried out by Accounts and Legal found that an astonishing 80% of small businesses wanted more commercial guidance from their accountant and overall only 10% were happy with their current bean-counter.
There is a need for change.