If you want to expand your business you need people to support you as there is no way you can do everything yourself. But it seems that business owners are reluctant to employ anyone and would rather use an associate or a consultant than commit to someone joining their business. Even if they need someone to do the day to day administration it has become more common to use someone who is self-employed. Why is this? …
Before you start your business you need to decide whether you will be a Sole Trader or a Limited Company. Or you may choose to be a Partnership rather than a Limited Company if there are two or more business owners. It can be confusing and many business owners opt for Limited Company status without really understanding what is involved. …
I have been providing bookkeeping services to individuals and businesses for more than 14 years now and one of the biggest surprises to me in the first few years was to be told that I was a good bookkeeper. I was surprised because shouldn't all bookkeepers be good? Keeping accurate records and understanding the financial aspects of a business is what bookkeepers do and whilst we learn different areas of bookkeeping for different businesses the foundations of our learning are still the same. …
A recent article in the Telegraph indicated that the Government is considering reducing the age for auto-enrolling employees into their pension scheme to 16 from the current age 22. The DWP are currently reviewing this and will release the details towards the end of this year. Do you think it is a good thing? …
If you are just starting out in business you will probably have lots of questions especially when it comes to managing your finances. Many banks will want you to prepare a forecast of your income and expenditure before they will consider you for a loan or an overdraft and many need this even to open a business bank account. That can be daunting if you really don't know where to start and what you should include. …
