Why your business is not making the expected profits

Why your business is not making the expected profits

You’ve just reviewed your latest financial results and realised the profit margin you achieved was lower than expected. That’s making you have to work harder to achieve your goals. What caused this? Below are 6 of the most common reasons why your business is not...

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Why your business needs a Finance Director

Why your business needs a Finance Director

Finance Directors and Chief Financial Officers are just for large corporate businesses aren’t they? Wrong! All businesses can benefit from a Finance Director, supporting business owners in creating clear financial strategies to achieve their goals. Here are 3 key...

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What financial numbers should your business monitor?

What financial numbers should your business monitor?

Knowing your business numbers is one of the most important areas if you want a successful business. Why? The numbers are evidence of how your business is performing, and the fluctuations help identify which business decisions work and which ones don’t. What financial...

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Common budgeting mistakes by businesses

Common budgeting mistakes by businesses

A financial plan (normally called a budget) is vital to support a business achieving its financial goals. Budgets allow you to track results against your financial goals, enabling reactive decisions as time goes by to keep on track! However many businesses make common...

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Ways to improve your profit margins

Ways to improve your profit margins

One of the key goals for most businesses each year is to increase their profits. There are many ways you can improve your profit margins. Most businesses instinctively think that the solution to achieve this is to increase their sales volumes. Whilst that is one...

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Tax deductibles for sole traders

Tax deductibles for sole traders

One question that many business owners ask is "which business expenses are tax deductibles for sole traders?" This is important to know so you can establish your taxable profit, and calculate the tax that is due to HMRC. As a business owner you don't want to overpay...

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Work management is on the rise!

Work management is on the rise!

One of the benefits of becoming a virtual FD is the opportunity to support local businesses in achieving their goals. I have recently spoken to owners of several local businesses to understand their views on both their individual industries and also how finance and...

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When procurement met accounting!

When procurement met accounting!

One of the reasons I decided to set up my own business was because I want to support multiple businesses. Therefore whilst setting up Enrich Accounting I have spoken to local businesses owners to understand their views on their individual industries and how the...

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How finance impacts businesses

How finance impacts businesses

As part of my market research when setting up Enrich Accounting I have spoken to several owners of local businesses. This was to understand their views on both their individual industries and also how finance impacts businesses. One of the main reasons why I decided...

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Effective Performance Reporting

Effective Performance Reporting

What is your company vision? Does your current performance reporting show your achievements against this vision? Even if your sole aim is to generate as much profit as possible, just looking at your profit and loss will not give you all the insight into why you are...

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Cash in quick!

Cash in quick!

Your business could be increasing sales dramatically, but it doesn’t mean much until the money is safely into your bank account. One of the main issues facing growing businesses is managing their cash flows whilst waiting for expected income to be received. Ideas on...

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Money, Money, Money! Improving your cash flow.

Money, Money, Money! Improving your cash flow.

At different stages of your company’s life, you are likely to need some additional funds. This could be either to manage a short-term cash flow situation, or potentially to help you grow your business further. What cash flow options do I have to access funds? If you...

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