Tweak Your Biz » Finance

According to HMRC, businesses who have opted for UK VAT registration should keep all records of their purchases and sales. Businesses should also keep an isolated VAT summary known as a “VAT account” and provide authentic VAT invoices. Let’s go through these three issues of VAT record keeping in more detail. How the VAT Records should be kept The seller should keep his/her records of VAT for a minimum of 6 years. If s/he uses VAT MOSS, the records should be kept for a minimum of 10…

There is enough risk involved in today’s trading markets without having to fear that invested funds could simply disappear. So how does a trader really know if their money is safe? With the collapse of both MF Global and PFG Best, it is certain there are no guarantees. Due to the unscrupulous practices of both of these companies, the industry has definitely suffered a blow. What can be certain is that finding the answer lies in the gathering of information. How about a look at some risk…

If your business requires a loan of more than a few tens of thousands of pounds, it’s almost certain that you’ll be asked to provide security to your bank. This has led to some cynical commentators to remark that high street banks act as little more than pawnbrokers, and for many fast-growing sectors such as technology, media, recruitment and business services, the banks’ approach is particularly unhelpful. Companies in these high-growth sectors rarely own significant assets such as…

Fashion start-ups are products of love and passion. They are channels of creativity and platforms for expression. But like any other business to succeed, a fashion start-up, too, requires adequate funds to sustain itself and grow. In this post, we look at feasible and smart ways to fund your business and overcome the initial financial hurdles. #1. Angel Investors Who could be better investors for your start-up than those who are business tycoons and understand economics like nobody’s…

A certain amount of mystique will always surround trading strategies in the Forex market, however if you’re new to trading and are looking for successful strategies that you can begin to implement into your Forex trades, it’s important to understand that there is no single, magical formula for trading successfully. One example is to think of the Forex markets as being the ocean, and you are the surfer – in order to surf successfully, a lot of patience, talent, practice, proper equipment…

Many people love the idea of turning around a business that is struggling or is in debt. Why is this attractive? People often think that if a business is in trouble it is the fault of management and if they can just go in and sort it all out then they can make a fortune as the business they will buy will be cheap. They also believe that if the debt is written off in an administration then they can just take over and carry on. Whilst they are correct that often businesses do fail due to poor…

In the recent years, the internet has grown into a virtual world with endless possibilities. You can now shop for clothes and shoes, buy groceries, and even kickstart your own business, all online. Many banks and financial institutions have taken advantage of this trend and begun to offer their services through online portals as well. Now, applying for a loan online may seem like a far-fetched idea, but this facility is available at present across all major financial institutions, and it would…

Unfortunately, the world of cyber crime isn’t going away anytime soon. While no one is truly safe from cyber crime, business owners are especially at risk and often have even more to lose. Because of this, it’s important for every entrepreneur to consider his or her cyber risks and protect their business with a cyber liability insurance policy. How serious is cyber crime? It is such a concern that the U.S. Director of National Intelligence ranked it as the absolute biggest threat to…

When we read about alternative finance these days, it’s usually framed in the context of bank funding. It might go something like this: a small business needs finance and gets turned down by the bank, but because of their specific industry area or business circumstances, there’s an alternative lender happy to help — and then hey presto, they’ve found funding, and their problems are solved. In reality though, securing finance — whether it’s from a mainstream or…

Technology is continuing to advance and it is benefiting businesses in many areas. There are tech advances in almost every industry, so it only makes sense to use these changes to upgrade your business. When your business is running more efficiently, you will have an increase in your productivity and profit. Here are nine of the tech upgrades you should consider investing in. #1. Switch to VoIP If you are still using traditional phone services, you should consider upgrading to a VoIP phone…