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.

Managing a sales ledger effectively is crucial for small and medium-sized enterprises (SMEs) in the UK. Not just for keeping track of sales and receipts, but ensuring your business stays financially healthy and cash flow remains steady. To help you manage your sales ledger more successfully, we have compiled five straightforward tips. Let’s get straight to them.

Around 50% of UK small to medium-sized businesses (SMEs) use accounting software, with Xero being one of the most popular choices. Businesses looking to adopt accounting software like Xero can tap into the expertise of certified advisors. These advisors have completed the training, are competent users of the software, and are in the best position to advise you on the most suitable accounting solutions.

When considering hiring external help for your small business's finance tasks, it's common to first think about the money it can save. Yet, this decision goes beyond merely reducing expenses. In this article, we explore how entrusting your financial operations to external experts can save you more than just money, including time, resources, and the hassle of managing complex financial tasks.

Every day, SMEs in the UK confront various challenges, with debt recovery tipping the list. Recent research reveals that UK small businesses are currently owed a staggering £32.1 billion in late payments. Efficient debt recovery is crucial for maintaining a healthy cash flow and ensuring business sustainability. This blog post aims to guide UK SMEs through the best practices for efficient debt recovery, supported by real-world insights.

At the heart of every successful UK SME is a team that's paid on time and accurately. This blog explores some easy-to-implement payroll strategies that can save precious time and reduce stress, helping business owners focus on what they do best – growing their business.