As a small or medium-sized (SME) business owner, chasing unpaid invoices can feel like an endless game of hide-and-seek. Research shows that late payments cost UK SMEs an average of £22,000 annually and lead to 56 million hours of lost productivity, impacting 62% of small businesses. Here’s how you can minimise late payments and keep your cash flow in check.
Financial metrics reveal precisely where your business is excelling, where adjustments are needed, and which strategic moves will drive the most impact. In this article, you will learn: 1. Why monitoring financial metrics matters for UK SMEs, 2. Five essential financial metrics that reveal your business’s health and 3. How each metric supports long-term growth and risk management.
Accounting is often seen as one of those tasks you can handle yourself as a business owner. After all, who better to manage your finances than you? But DIY accounting can quickly turn into a minefield, especially as your business grows. In this blog post, we’ll explore the common pitfalls of DIY accounting and highlight the tell-tale signs that it’s time to call in the professionals.
Missed receipts, misclassified expenses, and unbalanced books can lead to a cascade of issues, from costly tax penalties to cash flow crises that could cripple your operations. In this blog post, we’ll pull back the curtain on the true price of poor bookkeeping, highlighting why accuracy is more than just a numbers game - it’s a key factor in long-term success.
Running a business often feels like a balancing act, especially when overhead costs start creeping up. But with a few smart financial strategies, you can significantly cut expenses without sacrificing efficiency. In this article we show you five practical ways to reduce your overheads and keep your business running smoothly.
You started your business to follow your passion, not to get buried in spreadsheets. Yet, as your business grows, so does the complexity of managing its finances. This constant pressure to keep everything in check can slow down your decision-making and drain your energy. In this article, you will learn, how outsourcing financial services saves time and boosts agility and how to get started with outsourcing in a way that suits your business.
For UK manufacturing businesses, reducing costs is not just about cutting corners but about making strategic decisions that enhance efficiency and productivity. This blog explores four specific strategies that manufacturing companies in the UK can employ to achieve significant cost savings.
Is your business ready to make accounting easier and more efficient? Cloud-based accounting is changing how UK SMEs handle their finances, offering flexibility, better security, and cost savings. But if you're used to traditional accounting systems, making the switch might seem a bit challenging. In this article, we’ll share five easy tips to help your business switch to cloud-based accounting, making your processes faster and more effective. Let’s get started!
Imagine you're a small business owner, juggling multiple roles, from managing sales to overseeing operations. One of your biggest headaches? Handling the finances. You’re torn between hiring an in-house finance department or outsourcing. Both options have their pros and cons, but which is truly cost-effective? This article explores the real costs, helping you make an informed decision for your SME.
Time management is an essential skill for business owners, often dictating the success or failure of their ventures. With a number of tasks demanding attention, from strategic planning to client meetings, it's easy for administrative duties to become overwhelming. In this blog post, we’ll dive into seven ways business owners save time with outsourced bookkeeping to see how it can help you reclaim your time.
Your Outsourced Finance Department to fit your growing business needs
Perfect for small and medium growing businesses serious about their growth and achieving their potential. This program allows you to outsource your entire Finance Department without incurring any costs of hiring whilst maintaining a focus on giving you the holistic financial expertise to enable successful growth.
Perfect for small and medium growing businesses requiring an outsourced/virtual Finance Partner and/or for those experiencing difficulties associated with growth whether that’s cash flow issues or lack of clarity in financial decisions. This service gives you a better grip on your payroll, financial analysis and offers you support in understanding the financial performance of your business including which key areas to focus on. This service enables you to make decisions that will help your business financially.
Perfect for all businesses requiring bookkeeping and management accounting to gain valuable, actionable insights. Outsourcing your recordkeeping will free up your time to focus on your business.