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The Accountants for Growth
How start up businesses can avoid failure in the early years.
The Small Business Association claim that 50% of small businesses are likely to fail in the first two years after start up. Why? Because they are technicians and not true entrepreneurs who work on their business as opposed to working in it.
One of the main drivers of the team at James,Stanley & Co is to help our clients grow their businesses. The question you may ask is ’How do you deliver on that promise?’
Cloud accounting and supporting apps have allowed us to deliver our growth services; they provide us with real time financial information about your business which in turn allows us the compare results against the growth forecasts which we have prepared and to challenge business owners to get to the next level.
The catering sector can sometimes benefit from tips received from customers and unfortunately there are some tricky tax rules which must be applied to any tips or gratuities received.
Tax is payable on income from employment and unfortunately HMRC consider tips to be income from employment.
We touched on a number of ideas during the session which we are going to expand on in the coming weeks as they will be relevant to many caterers. One question that a delegate asked was: -
Gaining regular Google reviews is an easy way to promote your business and it helps to promote your website with search engines.
Prospective customers and clients will want to establish that you are a trustworthy and reliable business. One way in which they can do this is by reading your online reviews. This is fast becoming the way in which potential customers assess your business before they take the decision to buy from or engage with you.
We live in uncertain times and it is critical therefore for business owners to stay ahead of the competition. The phrase “Cash is King” has never been so pertinent. Most business leaders find it informative to compare their business’ performance to others in their sector and to see how they may be able to strengthen their cash flow.
If you need any help with making sense of how Making Tax Digital will affect your business, get in touch with us!
FRS 102 requires investment properties to be valued at fair value with any increase or decrease in fair value shown in the profit or loss account. This policy applied also to properties rented out to other group companies. This forced small groups to incur costs of obtaining a fair value with very little benefit.
Loans from directors to their company are a significant source of finance for many owner-managed small companies. Often, these loans are interest-free.
Registered to carry on audit work in the UK by the Institute of Chartered Accountants in England & Wales.
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any action.