POST CATEGORY : Finance

6 Common Spending Mistakes New Businesses May Make

Most of today’s small businesses experience failure during the first few years of their operation. Whether it’s a lack of planning at the beginning or some other pitfall, there are common mistakes you need to avoid in order to stay alive. You can boost your company’s chances by avoiding the six following mistakes.

Startup mistakes

1. Begin Your Business with a Huge Loan

The first two years of business is critical for small business owners. Since many fold at the beginning, you want to ensure that you’re getting the most out of your employees. Although you want to focus on efficiency and meeting deadlines, you also want to set a positive environment for your employees to work in.…

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Mis-sold a PPI Policy? Rush To Claim What’s Yours – It’s Your Money!

Sometimes the technicalities that take place within the banking sector are quite long winded and sometimes could be very tiring so that you lose interest in the whole thing. This also holds true when it comes to claiming on your insurance, such as getting mis-sold payment protection insurance (PPI) refund.

Getting mis-sold PPI refund

When you have a PPI policy, chances are, you’re not eligible to claim on, especially when you’re self-employed.  If that’s the case, you’re not alone.  In fact, there are at least two million people in the UK who have the same fate as yours: You’ve been mis-sold a PPI policy.  In other words, your PPI policy is useless in your circumstances.…

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Forget Banks, Manage your Money in The Cloud

Banks can help you in managing your money passively.  However, you can do better than that: How about actually managing your money better with the help of your stationary, an accountant and the cloud. Interested in learning more?

Cloud piggy bank

If you won the lottery big time, what would you do with your new found riches? I mean after you buy your sexy new Aston Martin and charter a yacht around the Greek islands. Keep the money in your bank account and not only will you have to trust yourself not to touch it, you’ll entrust an investor, an outsider with your millions.…

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5 Accounting Tips for Overwhelmed Small Business Owners

When you run a small business one area that many do not enjoy to do but is vital to the on-going operations is accounting. It can often be tedious, boring and isn’t what you imagined your time would be spent doing when you started your business.

Regardless, it still needs to be done, but there is help at hand!

Stressed out business owners doing accouting

The following list of hints and tips will hopefully help you reduce the stress and time it takes to do your accounting and make it much less of a chore.

Related: Accounting Tips for New Small Business Owners

1. Keep Records of Everything

It is extremely important to keep good records and be able to trace all aspects of the companies spending.…

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What Does Your Choice of Van Say About Your Business?

Remember Del Boy Trotter’s Reliant Regal van? That hideous yellow plastic tricycle was the anti-hero of the BBC’s Only Fools and Horses show, endlessly belching black smoke onto the main streets of Hackney. And yet the Trotter’s Independent Traders van wasn’t just a three-wheeled punchline – it was a painfully accurate reflection of what small businesses across Thatcher’s Britain had to do to keep mobile… not to mention a painfully accurate reflection on the quality of business itself.

The Reliant Regal was never a popular workhorse, but plenty of people struggled through the Eighties in clapped-out Morris vans or Mark 2 Transits with their doors tied shut using string.…

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4 Advantages of Getting a Secured Personal Loan to Fund Business

Thinking about starting a business? Making the shift from being just an employee to an employer requires a lot of guts, dedication, and most of all money. Few can afford starting a business from their own savings, as starting one requires lots of cash to buy properties, equipment, supplies, and to hire employees.

Secured personal loan

But with the wide availability of loans, starting your dream business is made easier today. Unfortunately, with loans comes the expense of paying an interest. Now, no one would offer you loans without giving it an interest, but you may be able to get the lowest rate with the help of secured personal loans.…

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Reminder: Make Sure That You’ve Got the Right Insurance

When you’re the owner of a small business, often there’s so much going on that important things can get overlooked. One of the most essential things to get right is to make sure you have the right insurance on all of your vehicles and to check your employees are insured correctly.

Business auto insurance

From business insurance policies to needing different driving licenses it can all get a little complicated. Not only in understanding policies, choosing the insurances that offer the best value for your business is a headache. But fear not, we’ve got your back; here’s our guide to make sure that all your vehicles are insured correctly:

Work-related insurance

If you have employees at your workplace who are going to be making journeys on behalf of the company, it’s important to make sure they take out work-related insurance on their own policy.…

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4 Financial Lessons Small Businesses Can Learn From Political Campaigns

Many politicians come from the world of business, so it’s unsurprising when they want to run the government like a corporation once they’re elected. But what happens when we reverse that pattern? Is there anything small businesses can learn from political campaigns? In fact, small businesses can learn some important financial lessons from those.

Vote buttons

Try these strategies to boost your business’ financial prowess.

1. Know The Prime Times

Politicians don’t try to advertise during the Super Bowl. That would be financially untenable and impractical, even if the ad reached a lot of people. Simply put, it could destroy a candidate’s budget in a heartbeat.…

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3 Tips to Avoid Losing your Business’ Money on Foreign Exchange

Small business owners are ever more likely to be working with a variety of currencies as technology has allowed even the smallest of enterprises to trade on the global market. But most banks often charge hefty overheads for foreign exchange for business.

Currency exchange

Here’s our top 3 tips on how to avoid losing money on your company’s currency conversion.

Find a specialist multi-currency account

The overheads that banks charge for international business transfers have irritated many an SMB owner over the years. A natural progression from this has been a growing number of specialist multi-currency accounts.

These accounts aim to transfer and convert your currency at a fraction of the cost of the big banks.…

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5 Things Every Small Business Owner Should Know About Health Insurance

The modern health insurance market has faced countless changes in recent years. While some people found themselves with great coverage, other people found themselves steeped in insurance coverage nightmares. Small business owners found themselves increasingly confused over whether they needed to provide coverage or not and how to manage the financial nightmare.

Choices of business insurance

Included here are a few things every small business owner should know about health insurance.

Employee Count

New laws implemented under the Affordable Care Act (ACA) dictated that companies with 50 or more employees be providing health insurance. Unfortunately, 96% of businesses in the country have fewer than 50 employees, so what are they supposed to do?…

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