Most businesses sit down once a year to build a budget for the following year and then spend the next 12 months measuring performance against a plan that was already out of date three months later or they don’t even create a budget at all. Especially in today’s market, change is happening quicker than ever, markets shift, clients leave and opportunities appear. Yet, the annual budget which was built on assumptions that are now months old, carries on as the benchmark for your
Profit matters but cash flow is what keeps business alive and moving forward. You can be profitable on paper and still face a crisis if cash isn't landing when you need it. The difference between businesses that grow with confidence and those that constantly feel under pressure? Clarity and planning. Here's how to get both: Know Your Future Cash Position — Not Just Today's Balance Your bank balance tells you where you are right now. A cash flow forecast tells you where you’re
With the end of the tax year approaching, a popular question when sitting down with my clients is “what can I actually claim for?”. Here’s a straightforward guide to what you can and can't claim as allowable business expenses. What are allowable business expenses? Allowable expenses are costs that are “wholly and exclusively” for the purpose of running your business. Key points to remember: The cost must have a genuine business purpose, not mainly personal. You need evidence.
