Taking Charge of Your Day-to-Day Bookkeeping

If you're just starting up in business, you may not have realised how important it is to stay on top of your record keeping. Although other elements of your business may seem more pressing, it is, however, essential to set aside enough time each week to ensure that your books are in order. Keep putting it off and you'll quickly find that your accounts become unmanageable.

Tax planning for retiring small business owners

Almost half of British small business owners hope to pass on their business to their children but 45% fail to plan for the tax implications when they retire. Research found that 63% of SME owners aim to pass their business on to a family member when they retire, with 48% intending to hand the business down to their children. But although people are looking at succession planning there are many that aren’t looking at the

Top tips for securing business finance

New guidance for businesses on securing bank finance has been released by two leading membership organisations from the business and banking sectors. The Federation of Small Businesses (FSB) and the British Bankers’ Association (BBA) joined forces as part of Small Business Advice Week 2013, which ran from 2-8 September.

Employee-owned businesses and tax incentives

The Government is increasing the number of tax incentives associated with employee share schemes in a bid to boost the number of John Lewis-style, employee-owned businesses in the UK. The independent Nuttall Review in 2012 concluded that companies operating in this model are more resilient during economic downturns, have a faster job creation rate and higher levels of commitment from staff. We look at some of the existing options available and two potential new reliefs

Business red tape – cuts and new regulations

Published twice a year, the Government’s Statement of New Regulations details all regulations – including EU measures – due to come into effect over the following six months. As part of the Government’s ongoing drive to reduce the red tape burden on businesses, July’s statement introduces 11 measures: five de-regulatory measures; three new measures which are likely to cost businesses; and three of which will be zero-cost. Key measures affecting businesses include: Building and planning

Starting in business

We take a look at what to do, and what to avoid, when starting-up a new business. Around 400,000 businesses start up every year. It is estimated that around one third of these cease trading within the first three years. But new business owners do not set out to fail. So what steps can you take to ensure you don’t fall into the failure category? Starting up a new business can seem like a minefield.