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Elevate Your Business: A Guide to Improving Your Business Credit Score Your business credit score is a valuable asset that can significantly impact your company’s financial health and growth potential. Just like a personal credit score, a strong business credit score opens doors to favourable financing options, partnerships, and opportunities. In this comprehensive guide, we […]

The UK Energy Crisis: Navigating Turbulent Waters in Business The United Kingdom is currently facing an energy crisis that is sending shockwaves through the business landscape. This, triggered by a confluence of factors, has left businesses grappling with soaring energy prices, supply chain disruptions, and the urgent need to find innovative solutions to mitigate its […]

Unlocking Opportunities: A Comprehensive Guide to UK Business Grants In the dynamic landscape of UK business, growth and innovation are often fueled by access to financial resources. For many entrepreneurs and small business owners, securing funding can be a game-changer. Business grants, in particular, offer a unique avenue for businesses to access financial support without […]

Navigating the Seas of Start-up Funding: A Guide for UK Entrepreneurs In the dynamic business landscape of the UK, start-up funding emerges as a beacon of hope and opportunity for aspiring entrepreneurs. The journey of building a business from scratch is exhilarating, yet it’s strewn with challenges, the foremost being financial. Understanding why startups need […]

Navigating HMRC Time to Pay Arrangements: A Lifeline for UK Businesses In the complex world of business finance, one of the challenges UK businesses often face is managing their tax obligations effectively. The HM Revenue and Customs (HMRC) understands that businesses sometimes encounter cash flow difficulties, making it hard to pay their tax bills on […]

In the realm of business finance, one solution that has been gaining traction, especially among small and medium-sized enterprises (SMEs), is invoice financing. This financial tool can be a lifeline for businesses waiting on payments for services rendered or products delivered. Here’s a deep dive into what it is, how it works, and why it […]

What is Asset Finance? In today’s fast-paced business world, staying ahead often means having the right tools and equipment at your disposal. However, acquiring these assets can be a significant financial burden, especially for small and medium-sized enterprises (SMEs) in the UK. This is where asset finance comes into play, offering a viable solution for […]

Should I Get a Business Loan? Running a successful business often requires a steady flow of capital to cover various expenses and seize growth opportunities. However, not every business has the financial resources readily available to meet these needs. This is where business loans come into play. In the UK, there are several reasons why […]

What Lenders Look for When You’re Applying for a Business Loan Securing a business loan is a critical step in the growth and success of your company. Whether you’re launching a new venture, expanding an existing business, or addressing financial challenges, understanding what lenders look for can significantly improve your chances of approval. One crucial […]

In the ever-evolving landscape of business and finance, staying ahead means leveraging every available resource to fuel growth and efficiency. That’s why 1 Accounts Online is thrilled to announce our partnership with Swoop, a move set to revolutionise the way our clients manage their finances, access funding, and combat the energy crisis. Why Partner with […]

There are two huge mistakes that many start-ups or small business owners make. The first one is trying to manage their own accounting system. This is often done incorrectly which can hurt the business in the long-term. The second mistake is assuming that an accountant is only good for managing accounts and filing Tax or […]

A fixed mindset is thinking that the recession means business stops and clients don’t want to spend money. A growth mindset is using this recession as an opportunity to adapt and do things differently. You bees the second mindset if you want to grow your firm doing the recession. The only thing holding you and […]

A lot of new businesses fail. A lot of old businesses fail. A lot of previously successful businesses fail. Why? Usually, it comes down to issues around finances. If you’re starting a new business, or if you’ve been in business for years and are trying to grow your team and scale your company, hiring an […]

With the economy as unpredictable as it has been lately it is essential for small business owners to take a good look at your overheads and cost of sales. Add into the mix the rising cost of labour, materials and shipping, and this exercise to examine your cost base may be the difference between your […]

No matter how big or successful your company is, maintaining business throughout a recession is hard. With fluctuating demands, losses in sales and competitive price drops, the whole experience can feel like a rollercoaster ride. So how do you survive the economic chaos? To help guide you through, we’ve created a comprehensive list of pricing […]

You can only manage your finances effectively if you know certain numbers and, as we all know, credit control leads to consistent cash flow which is vital for business success. To help you manage your financial processes more effectively, here are two numbers that you need to know: accounts receivable and accounts payable. What are […]

In today’s competitive business world, it is not uncommon for people to do their own bookkeeping and accounting. There are many reasons why this is done – the most common being that you can save money doing so. Of course, saving a couple of hundred pounds is an enticing prospect, but there are actually many […]

Wouldn’t life be simple if you could guarantee that your invoice would get paid on time every time? Sadly, this isn’t always the reality. With the economy coming out of recession, there is a very clear and present danger that your business invoices may not get paid in a timely fashion. Here are our best […]

According to studies, SMEs spend on average, a whopping £4.4 billion per annum chasing late payments. This problem is only exacerbated by traditional (and slow!) payment methods too such as cash and cheques, so what is the solution to this? To reduce the time between invoicing and the money actually clearing into your accounts receivables […]

If you’ve lost clients due to the Covid-19 pandemic, you are not the only one. Countless businesses have lost a substantial amount of revenue, some of which have been forced to declare bankruptcy or shut their doors for good. When we lose clients, it can be tempting to jump back on the sales horse and […]

How to Recover Your Accounts Receivables After Covid-19 The pandemic has not been kind to business. Many companies have struggled with poor cash flow, defaulting on payments and many have even gone bankrupt. Even now, businesses still struggle, so, understandably, that the financial situation of most businesses in the world is bleak. With that being […]

Wouldn’t life be simple if you could guarantee that your invoice would get paid on time every time? Sadly, this isn’t always the reality. With the economy coming out of recession, there is a danger that your business invoices may not get paid in a timely fashion. Here are our best tips for getting your […]

Just thinking about how much the government has forked out during the COVID-19 crisis is scary; never mind hearing the numbers (it was £284 billion at the end of 2020, just FYI). But the funny thing about the economy is that you have to borrow to build. Small businesses have relied on government-backed financial support […]

In line with the further extension of the CJRS furlough scheme for employees the chancellor has also set out further support for the self-employed. We had been waiting for the details of the calculation of the fourth SEISS grant covering the period to 30 April and we now know that the support will continue to […]

We have an increasingly complex financial ecosystem, yet UK businesses feel that they have no one to turn to.  It’s not surprising, since we’ve seen a reduction in bank branches and bank managers over the past 20 years, but what business owners don’t know is that they do have someone. To help SMEs in a […]

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 […]

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 […]

Running out of cash is one of the biggest reasons that businesses fail. It’s not surprising really, as forecasting your cash flow can be tricky, not to mention that there are so many variables that determine how much is needed for operations, how much money you have coming in, and how much money you actually […]

What are the new business support schemes for covid-19? Yesterday the government announced more support for businesses and the self-employed. This blog takes you through the announcements and what it means for your business. On the one hand, it is great to see the government making available this help. But this probably means we will […]

Last night the prime minister addressed the nation and announced a month long lockdown for England. Something we never considered happening in our lifetimes is now happening twice. Businesses all over the country are being forced to shut once again, and people told to stay home and save lives. If you own a business, the […]

So many businesses are in the position where they need to cut overheads but how do you do this without having to make anyone redundant or reducing their hours? How can you do this without having to trawl your financial reports? If you’re looking for easy ways to cut your overheads during a recession, here […]

Thousands of smaller businesses in England are set to benefit from £20 million of new government funding to help them recover from the effects of the coronavirus pandemic, the Minister for Regional Growth and Local Government has announced. Small and medium sized businesses will have access to grants of between £1,000 – £5,000 to help […]

Business Bounce Back Loans – what are they and should you apply for one? Since the scheme launched in May 2020 (just 3 months ago), more than 860,000 bounce back loans have been issued. This means that thousands of small businesses who are struggling due to the coronavirus have applied for and received financial help; […]

Sole Traders to get second grant from the Government. The government’s Self-Employment Income Support Scheme will be extended, giving more security to individuals whose livelihoods are adversely affected by coronavirus in the coming months, the Chancellor announced on Friday 29 May 2020. Rishi Sunak announced the Self-Employment Income Support Scheme will be extended – with […]

The portal opens this week to claim your grant is you are self-employed. This is capped as a taxable lump sum of £7500. Once your claim is approved the money will be in your bank account within 6 working days. To check whether you are eligible for this grant click here. Directors of limited companies are NOT […]

New loans for small businesses announced. Sadly, lockdown doesn’t seem to be ending soon. This means that we are going to be seeing more pressure on the economy and the chances of this being a 12-week blip to the economy with a large bounce back are getting less and less as lockdown trundles on. Cheesy […]

DO YOU RUN A CHILDREN’S NURSERY? Beware of the new furlough rules!  If you operate a Childs Nursery or playground and receive funding from the County, please be aware of the new rules that were introduced by the Government on Friday. Click here for government guidelines Due to this change in guidance you will now need to calculate the […]

How to preserve your cashflow during COVID-19 As the saying goes, turnover is vanity, profit is sanity and cash flow is king. And never has that saying been ever truer. Use this tips sheet to help you preserve your cash flow so you are ready and able to trade again as normal when the restrictions […]

Claim Your Small Business Grant – TODAY If your business is eligible for small business rate relief OR rural rate relief: Your local authority will provide you with a one-off grant of £10,000. (So, doesn’t need to be paid back). If you are a retail, hospitality or leisure business: The government is giving you a […]

Business Interruption Loan Update We don’t have full details yet, but we wanted to let you know that the Coronavirus Business Interruption Loan (CBIL) Scheme is going to be revamped after it has come under considerable criticism. And this is very positive news for small businesses. As a firm we were personally very disappointed with […]

What help is there for the self employed? It seems that every day the realities of the situation the economy is in just gets worse. I am sure you are like us you are pleased that the government is pumping money into small businesses. But what happens if you are self-employed or trade as a […]

The Ultimate Guide to the Different Types of Business Financing Small business loans are being approved at an unusually high rate, making this the perfect time to increase your company’s cash flow via business financing. There are different kinds of business loans available, and it’s important to know the differences between them in order to […]

You Are Not A Bank As a small business, credit control can be a nightmare. Paul will tell you that when he first started running his traditional accountancy practice (Paul Donno & Co) he was pulling his hair out when he would do work, invoice the client and then not get paid. Unlike buying a […]