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Tips For Small Business Owners

For many sole traders or small businesses it can be difficult to find the time to maintain all paperwork on a regular basis, meaning a large amount of admin is left until it is absolutely necessary to sort out.

If this sounds like you, then you will need to make some changes to the way you work because the Inland Revenue  is set to investigate two million small businesses – slapping many with big fines if records have not been kept in order. Here are 5 tips to help your business in 2012…

Receipt

Receipt (Photo credit: BreakfastPirate)

1) Get organised, Read more at 2009 Tax.

How to Choose an Accountant

Due to the necessity for accurate book-keeping, many businesses outsource their accounting needs to a proven and successful chartered accountant.  Many businesses choose to employ an in-house accountant, which is also a successful strategy, depending on the size of the business. There are several key points to consider when choosing an accountant, four of which are detailed below.

Credentials: It is important that your chosen accountant is suitable educated in their field. They must be appropriately qualified to do the job you employ them for; you don’t want an accountant that is daunted by your books or intimidated by … Read more at 2009 Tax.

Riots Put Strain On The Finances of UK Cities

August was a time of civil unrest in cities including Manchester, Salford, Liverpool, Nottingham and Birmingham, with shops being looted and set ablaze. Victims of the riots sadly face a tough financial crisis as they try to restore the damage to their businesses and properties while at the same time trying to recover loss of earnings and stock.

The Head of Media at British Retail Consortium had expressed concern that all the damages to shops and homes caused by the rioting and looting could hit the £1 million mark. It’s feared that many will no longer want to trade again … Read more at 2009 Tax.

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