Tweak Your Biz » Finance

If you’re considering accepting credit cards for your small business, the world of merchant payment processing might be a bit scary, but with a little knowledge, you’ll be more confident to choose the best provider for your business. Here are 8 terms you should know before getting started. #1. Payment Gateway If you plan to accept payments on your website, you need a payment gateway. Essentially, this is a service that will authorize credit card payments on your behalf, and include…

Managing the resources that go into accounts can represent a real Catch-22 for small and medium businesses. For many companies, a full time accountant is simply not financially feasible. Responsibility for issues like VAT returns and billing then falls to managers or directors. Managers and directors are typically occupied reacting to more pressing matters and so these accounting responsibilities tend to be put off. This results in cash flow disruptions and even  fines which ultimately…

Making a success of a personal business venture is not easy. 80% of small companies eventually fail, according to a BBC report of 2010. So why do new companies struggle, and how can small company owners try and ensure they become one of the ‘other 20%’. #1. An unrealistic business plan You will almost certainly have heard the expression ‘if you fail to plan, then plan to fail’. Starting a new company should mean that you engage in a meticulous planning exercise. Examples of areas your…

With the widespread use of cloud computing to store office files, aiding accessibility and sharing from any location, a much faster Web and universal network coverage, businesses now have the option of breaking free of set physical office locations in favor of Internet-based offices. Telecommuting, or employees working from home, is certainly an interesting proposition, and something that many businesses are actively pursuing. Reasons are primarily cost-driven. Office space comes at a steep…

It is now just over a year since the UK government launched its auto-enrolment workplace pension scheme. Initially rolled out to larger companies such as Tesco, it will soon be extended to include SMEs over the next five years. What have we learnt from the first twelve months? Is the scheme a force for good? Or superfluous bureaucracy and a strain on small business? Workplace pension scheme The scheme automatically enrols employees into a pension scheme, either the company’s own, or…

Conversations about recycling tend to revolve around domestic recycling issues – rinsing out tin cans for mid-week collections, but business has an incredibly important role to play in creating a sustainable future. Thankfully many companies embrace their environmental responsibilities, and there are a number of good reasons for doing so – ethically and financially. Sustainable business practices have recently been adopted by corporations as a work ethic as integral to their business plan…

Small business and insurance doesn’t go together. You have a limited budget yet you want to be protected against anything and everything. Finding the right insurance policies can get quite confusing. Here’s a short guide to getting cheap insurance on a range of different policies and to give you some insight into how much you have to take into account. We provide some information on the most important types of insurance that make up your small business policy here. Workers’ Compensation…

If you’re thinking about your post-retirement plans, or if you’re just itching to do something with your savings – it’s no surprise that the word “investment” comes into mind.  If investing in real estate has crossed your mind for some time now and you’re ready to take the plunge, take a step back and assess your actions and motivations. If you’re planning to invest in this particular venture, make sure to consider certain risks that may make or break your plans. Be wary…

To help in the strategic planning for your business check out the new challenges and opportunities available with predicted retail trends in 2014. Let’s have a look at useful suggestions and insights for online and offline retail. #1. Multiple-Channel Retailing Will Be the Standard You need to keep up with what technology potential customers are using to browse the internet, including when inspecting offline stores and when they make purchases.  You also need to realize that you…

When a certain private company tends to lose all its profit and is about to submerge, the best option to rise up and raise the capital is to take the reverse merger. This is the time when a private company will be able to embrace opportunities of becoming a public shell company. Shareholders will be receiving large amounts of ownership and at the same time take control of the board of directors. As the private and public company merge into one, reverse merger process is completed. What do you…