The differences between wages, salary, commission, and bonuses

There are a few different methods that employers use to pay their employees, and while they may have similarities, they each also have their own implications for your business and its employees. On top of that, there may be a blended model at play, in which you offer two types of compensation at once, such as a wage and bonuses. How you pay your employees will impact your finances and…  Read more

Understanding different types of insurance

There are many types of insurance for individuals, and choosing the right ones for you can be overwhelming. These policies are distinct, yet they often overlap. It’s smart to review your personal insurance policies any time you have a significant life event. This ensures that you and your loved ones are cared for should you find yourself unable to work. Read on for a brief explanation of the different types…  Read more

Business Update – 31 August 2022

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. European gas shortages will continue for years to come The Chief Executive of Shell has warned that gas shortages across Europe are likely to continue for years. Rising prices and continuing energy rationing will carry on as cuts in supply due to the war in Ukraine continue. Asda to…  Read more

Business Update – 10 August 2022

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Former PM campaigns on the cost of living crisis Former Labour prime minister Gordon Brown is warning that people will go hungry and cold this winter, as the cost of living crisis worsens. He says that in his hometown of Fife, he is seeing a level of poverty “that…  Read more

6 Reasons Why You Should Raise Your Prices

There comes a time for every small business to raise their prices. While it may seem scary, remember that it’s your job to keep prices fair, both for you and your customers. That means you have to charge prices that work for you and allow you to remain in business. Read on for six reasons to raise your prices. Your costs have grown The thing about inflation is that everyone…  Read more

Business Update – 3 August 2022

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Billions of pounds worth of benefits left on the table every year It’s estimated that £15bn worth of benefits go unclaimed every year, with some perceiving access as a handout they shouldn’t accept. The MoneyHelper website can help you see if you are entitled to unclaimed benefits and can…  Read more

5 ways to combat inflation

It seems that every news outlet is sounding the alarm about high inflation these days. While it might sound like it’s time to panic, you don’t have to. With a few adjustments, you can handily fight off inflation and possibly even benefit from the current economic climate. Read on to discover 5 ways you can combat inflation and make your money work harder for you. Find out what you spend…  Read more

5 ways outsourcing payroll can help you

When you start a business, you’re typically your only employee and payroll is about as simple as it gets. But as you grow, you hopefully find yourself in the position of needing to take on more employees. Before you know it, what was once a very straightforward task becomes a giant undertaking that’s sucking up most of your time. This is when it makes sense to outsource your payroll. While…  Read more

Business Update – 26 July 2022

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Russia and Ukraine sign deal to resume grain export to world markets The UN and Turkey managed to help Russia and Ukraine come to an agreement last week that will reopen Ukrainian Black Sea ports for grain exports, raising hopes that an international food crisis aggravated by the Russian…  Read more

Business Update – 19 July 2022

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Economics 101: The Cost of Living Crisis Explained The Guardian interviewed ten experts and created this explainer on the cost of living crisis – how we got here, and where we’re going. It can be found here. Amazon presence set to grow in the UK Amazon announced it will…  Read more

What is lifestyle planning and how does it affect my finances?

When you think of financial planning, you probably imagine ways to increase your wealth, such as making a budget, reviewing what’s coming in and going out, and creating a plan for how to make the most of your money. You may think of investing in stocks or bonds, or of starting a retirement fund. Perhaps you think of saving for a major expense, like a home or education for your…  Read more

Business Update – 12 July 2022

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Retailers like Amazon blasted for sending tiny items in large packages Every year oversized packaging leads to five million unnecessary delivery journeys, but on top of that, consumers are also upset about the environmental toll of shipping air in those gigantic boxes. Rail passengers brace for strikes Train drivers…  Read more

How to respond effectively to complaints

Complaints are an unfortunate part of running a business, but they do happen. No matter how hard you work to please your clients, eventually someone will have something negative to say. However, with the right approach, you can turn complaints into a useful tool to strengthen your business. Here are 6 tips to effectively responding to complaints: 1. Remember that this is not an argument The reason that a client…  Read more

4 signs you’ve found the right financial advisor for you

Most people need some help when it comes to financial planning and investing. That’s when we turn to financial advisors. With many options available, it’s important to ensure you choose a financial advisor that you can trust and feel comfortable with. So what are some signs that a financial advisor is a good fit for you? Here are some things to look for when deciding who is best for you…  Read more

Business Update – 6 July 2022

Welcome back to our Business Update. Read on for the latest updates and some ideas to help us all move forward. Tonnes of food on British farms left unpicked Due to a lack of seasonal workers, farmers are losing hundreds of thousands of pounds due to unpicked crops. The labour shortage was triggered by Brexit and then the invasion of Ukraine. Government considers 50-year mortgages to help ease housing crisis…  Read more

Business Update – 29 June 2022

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. ‘Hat-trick of hurt’ affecting small businesses Small and medium-sized firms are facing a triple threat of rising fuel costs, higher wages and the surging price of imported goods and raw materials. Staff shortages contribute to air cargo delays The IATA says that the cargo handling industry lost thousands of…  Read more

8 ways to run more effective meetings

Meetings are often a source of contention in the workplace. Have too few meetings and people feel disconnected. Have too many meetings and people feel that their work is being interrupted. Meetings that are too short might not accomplish enough, while those that are too long lose people’s attention. With some planning and preparation, you can easily turn your meetings into a productive, pleasant experience. Your attendees will come away…  Read more

5 signs you have cash flow issues

Whether it’s for personal use or for your business, cash flow is important. The movement of money in and out keeps everything running smoothly, and you have to know where you stand. But what if it seems that your cash flow isn’t really, well, flowing? If it seems that you’ve tightened your belt in every area and still coming up short, you might have cash flow issues. Here are some…  Read more

Self-Assessment for directors

It has long been a rule for the directors of small companies that along with their companies’ financial statements, they are also obliged to submit their own personal tax returns on the basis of their holding a director position in the company. HMRC lists the factor of being a director of a limited company as a trigger for issuing a self-assessment request. Indeed, many directors have had to submit their…  Read more

5 steps to test your business idea

When you’re in business for long enough, you’ll likely come up with new ideas you want to try. Innovation is important for your company to grow, to diversify its income, and to attract new customers. An important step between having an idea and jumping into it is testing the idea. Here are some important ways to test your idea, so you can launch it with confidence. 1. Talk to people…  Read more

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