Are you wanting to grow your business, but don’t know where to start? Or maybe you are growing too quickly and don’t know how to manage your growth. Take a look at our advice.
According to business start-up statistics in the UK, 20% of businesses fail in their first year and around 60% will go bust within their first three years. Approximately 660,000 new start-ups register in the UK every year according to The Telegraph, so what are the reasons for such a high failure rate? While there are … Read more
If you’re at the point where you can’t take on any more work or, to grow your business, you need to hire more staff…hiring an apprentice is as good an option as any. Yes, they might not be as experienced as a fully trained potential employee, but you can mould them to fill any specialist … Read more
When asked “What does an accountant do?” many people answer with accounts, tax or compliance work. While that’s true, what many don’t know, is that the good ones do so much more. The best accountants will become a part of your team; they will give you strategic advice to save money and boost revenue, they … Read more
Your profit margin is how much money you actually get to walk away with after a transaction is complete (revenue – costs = profit). It makes sense then, that businesses who want to grow, focus on increasing this margin. The bigger the margin you have, the more you will thrive and be able to power … Read more
For a business to grow sustainably (and to successfully make it through the financial bumps in the road), cash flow needs to be a priority. And not just when times are tough and cash is tight. Making sure that you’re maintaining an optimal level of cash on hand at all times; this is essential to … Read more
While sometimes it’s necessary to take on clients at a lower price than we want – especially when we are building a portfolio – it is not a strategy that will help us grow our business in the long term. What will help us grow the business that we want and in the direction that … Read more
As we keep plunging deeper into a global recession, it can be tempting to panic and dither with decisions, but that’s not going to help. In fact, it’s the businesses which move quickly that will survive and thrive during this time. So how can you be one of those businesses? One that actually grows during … Read more
As author Dough Hall correctly put it, “if your profit margins aren’t rising, chances are your company isn’t thriving.” Makes sense when you think about it. If your profit margin is the actual money you get to walk away with after a transaction (your revenue minus your costs), you want to be continually improving this … Read more
Would you trust your life to someone who was not a doctor? Would you be defended in court without a qualified lawyer? Of course not. Yet many businesses trust their livelihoods to unregulated accountants. Why does being regulated make a difference? To be regulated accountants have to be a member of a professional body. The … Read more
Should Business’ Employ a business coach? – Absolutely! A note from Paul Over the years I have seen many people that say they are business coaches and I really would not trust them to deliver, especially those that are part of a franchise and just follow set procedures. A business coach should understand your business, … Read more
