Tweak Your Biz » Finance

  Is ecommerce the enemy of high street business? Despite fears that online shopping will kill bricks and mortar businesses, for the smartest SMEs integration between the two offers a way to get ahead of the competition. Some of the most recognisable high street names are already knitting ecommerce tactics into their business strategies. Electronics specialist Maplin are planning on increasing the interconnection between their online and offline offerings, including a live video tutorial…

Payroll is a business critical function in any organisation and it is also one of their biggest expenses. Despite this, it is often not given due consideration – that is until something triggers the need for change. This is something we see time and time again – however, organizations shouldn’t wait for a crisis, such as a missed payroll date, before reviewing their payroll function; this is something that should be reviewed as an overall risk assessment with in any organization…

Taxation on vehicles can often be a deciding factor for many smaller businesses when they are choosing their fleet cars as this can be a hefty price to pay. In general the more environmentally friendly the car is the less tax you will have to pay, but this can often mean opting for more costly models. Company Car tax calculation Company car tax is calculated by the cars P11D value, which is based on the list price, including VAT and delivery costs plus any added extras. A vehicle’s first…

The average invoice payment in Ireland is 62 days, according to the Small Firms Association. According to a survey by the equivalent body in the UK, 50% of small businesses has written off an invoice valued between £10 and £9,999.00 in the last 12 months. Frightening statistics if you are trying to manage your cash flow to run your business. Cash flow is the life blood of your business, slow payment results in STRESS. That’s a given but it also:- slows the business growth creates…

After we finish school and get a job, we will find that buying everything we want is much easier to do. However, the hard thing in this regard comes from the fact that managing our personal finances can be a very tricky thing to do. This is why we need to make sure that we have a proper plan to manage our finances, as this will help us gather some money from those hard to cope with situations. Money is the key factor in our personal budgeting. If you are more visual, here is a great infographic…

The US is the biggest debtor nation in the world. The national deficit is over $16 trillion and what happens to that debt? It gets picked up by other nations who have an interest in the US like China and Japan who own over $2 trillion of US debt combined. This principle of people buying up bad debt does not only apply to the nation of the United States of America but it also applies to individual unpaid debts which are owned by the man on the street. Investors buy up those unpaid debts not…

Latest figures released indicate that companies suffering from insolvency in the UK have declined over the past 12 months. The general consensus seems to be that the economic recovery is now firmly underway in Britain, driven in part by increased consumer spending. Restaurants such as Café Rouge buck the insolvency trend Unfortunately this trend has not been seen by the restaurant trade which has suffered an overall increase in insolvencies of 15% over the same period, with the likes of Bella…

Advances in technology have made it possible for businesses to grow from strength to strength at a faster rate than a few decades ago. Today, as long as you have a clear idea, well formulated and possibly put down on a sheet of paper in form of a business plan, getting a start-up business running could be just a matter of days if not hours. Everything can be done online including registration, accounting (via cloud computing), and service delivery. Due to recent technological developments,…

When you are setting up your new business it is understandable that a number of suppliers might be worried that you will not be able to pay them if things go wrong.  Consequently, they may ask you for a personal guarantee against any loss. The most common time for such guarantees are those where there is little recourse by the supplier if things go wrong. What I mean by this is where you may rent a machine/car  or even a rent a premises.  In effect, this is where you are being loaned the…

Companies run into debt problems all the time. You gamble on an investment of time and money, and every so often you lose out. Startup businesses have to gamble capital and debt in the hope of generating an income – not all succeed on the slippery pole. The worst thing you can do in these circumstances is hide from the creditor, and the best thing you can do is talk to them. Hiding your head in the sand? About the worst thing to do in these circumstances is to try to hide from the creditors.…