Top 5 insights from Accountex 2024
Sage Advice UK Blog
by Daniel Heathcote
1w ago
Accountex 2024 was buzzing with insights, caffeine-induced energy crashes, and sore feet. There were mind-reading beer taps, VR games, and battles for the best merch. Most important, however, were the discussions attendees had along the way, the knowledge shared, and the connections made. If you missed the opportunity to attend this year, or just want a refresher, this article has compiled 5 key insights gained from some of the most innovative minds in the industry. Here are the top 5 lessons and action points Accountex 2024 that every accountant and bookkeeper should take to their practice. H ..read more
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8 AI side hustle ideas to try in 2024
Sage Advice UK Blog
by Douglas Bonderud
2w ago
Side hustles are now standard practice for many Americans. According to recent survey data, 53% of Gen Z, 50% of millennials and 40% of Gen X have one. Across the board, 44% of those with side gigs say they’ll always need them to make ends meet. Combined with their day-to-day jobs, many hustlers find themselves burning the candle at both ends. This is especially true as competition heats up in their chosen side hustle industry. Thankfully, there’s help on the horizon courtesy of artificial intelligence (AI). The rapid development of AI has given rise to powerful tools. They are easy to access ..read more
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Flexible working changes in 2024: What employers need to know
Sage Advice UK Blog
by Bruno Boksic
2w ago
The Employment Relations (Flexible Working) Act has been discussed for a while and has been brought in to address the global shift happening in the workplace. It’s not just a UK initiative. The European Union (EU) has brought in the work-life balance directive. Along with other measures, it also introduces similar flexible working measures. The UK legislation effectively mirrors the EU legislation. Flexible working is here to stay, and businesses will have to adapt their approach to create an attractive workplace for current staff and attract new talent. A recent Acas survey found that 30% of ..read more
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I started a business with a Spice Girl
Sage Advice UK Blog
by Bex Burn-Callander
2w ago
Christopher Money was on the hunt to find baby products that were both kind to sensitive skin and kind to the planet, but he couldn’t find what he was looking for—so he decided to create a solution himself. With his idea well and truly in motion, Chris thought some star power would help to really bring his vision to life, and who better to help him create baby products than Baby Spice herself, Emma Bunton. This dynamic duo merged their passion for creativity, entrepreneurship and sustainability to launch a groundbreaking business that has since rocked the industry. For 7 years, Kit & Kin h ..read more
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HMRC tax inspection: How small businesses can prepare
Sage Advice UK Blog
by Esther Cooke
3w ago
The thought of being investigated by HMRC leaves many business owners with a sense of dread. But it doesn’t have to be that way. Often, that fear comes from not understanding the process. So in this article, we explain what you can expect from an HMRC tax inspection and share pointers on how you can minimise the risk of being investigated with the help of an accountant. That way, you’ll feel confident in your ability to deal with an inspection if it ever does come up. After all, no business is immune from a tax inspection. Here’s what we cover: What is an HMRC tax inspection? HMRC tax inspec ..read more
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From my 1-bed council flat to the Dragons’ Den
Sage Advice UK Blog
by Bex Burn-Callander
1M ago
From humble beginnings in her one-bed council flat, to pitching her business to the successful investors on Dragons’ Den, Zoë Chapman has overcome every obstacle that has stood in her way. After noticing a huge gap in the market during the pandemic, the 39-year-old mum of one took a huge financial risk to start a business and manufacture a toilet solution aptly named the Whizzer. She has single-handedly turned her idea into an award-winning, eco-friendly solution that parents simply can’t leave the house without and even gained the financial backing of two Dragons. With authenticity and resili ..read more
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What is revenue and how to calculate it
Sage Advice UK Blog
by Daniel Heathcote
1M ago
Understanding the fundamentals of your business’ financial health starts with mastering the basics of revenue calculation. Revenue, often referred to as sales, is the total amount of money generated by a company through its business activities, such as selling goods or services before any expenses are subtracted. In this article, we explore here what revenue is, its significance, and how to calculate it, including the differences between sales revenue and total revenue. Here’s what we cover: What is revenue? The value of accurate revenue figures How to calculate revenue Sales revenue versus t ..read more
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What is eNPS? A guide on Employee Net Promoter score
Sage Advice UK Blog
by Simon Brooke
1M ago
An Employee Net Promoter Score (eNPS) is an important tool in the role of recruiting and retaining talent. As businesses manage the continuing effects of what has been called the Great Resignation, and working from home suits many but leaves others feeling disconnected, understanding employee sentiment is particularly valuable for business leaders. According to recent research, almost two thirds (64%) of small and medium-sized enterprises (SMEs) are finding it difficult to retain staff, so anything that enables business leaders to get a sense of how their teams feel about their jobs is useful ..read more
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From chatbots to visionary generative AI-powered productivity assistants
Sage Advice UK Blog
by Asavin Wattanajantra
1M ago
You browse a website or app, and up pops a little chat window in the corner. “How can I help you today?” You type in your question, and an answer comes back instantaneously, a sure sign of the chatbot at work. But instead of a detailed explanation, you get a generic response directing you to FAQ pages you’ve already scoured. No context. No insight. It’s just a cold, scripted reply that leaves you no wiser than before. Once hailed as a revolutionary customer service tool for businesses, chatbots, though widely adopted, fall short of becoming the panacea many hoped for. Chatbots are computer pro ..read more
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15 steps for an effective recruitment process
Sage Advice UK Blog
by Esther Cooke
1M ago
The recruitment process may be the first time a prospective employee interacts with your business. Does your hiring process make a great first impression? Unfortunately the current market stats leave a lot to be desired. A recent study by talent insight company SHL reported the number of negative hiring experiences shared on platforms such as LinkedIn or Glassdoor have doubled since 2020 and 42% of candidates in the study declined job offers as a result of a bad experience. The good news is you can stand out from the crowd by differentiating your business with a robust recruitment strategy. In ..read more
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