When launching and managing a business, there are various priorities for entrepreneurs to balance – and of course, business survival is the first. Providing a suitable bank account is set up and a decent small business banking team is in place to manage it (usually at the bank itself rather than within the enterprise), it […] The post Why Your Business Needs Internal Controls To Manage Finances first appeared on The Finance Equation ..read more

Managing your business’s cash flow is essential if you want your company to remain solvent. Without cash, your business simply cannot operate efficiently, if at all. It may seem hard to fathom sometimes, but many profitable businesses have gone bankrupt due to cash flow mismanagement. It is imperative, therefore, to stay on top of your […] The post Tips for Managing Your Cash Flow With Greater Efficiency first appeared on The Finance Equation ..read more

‘Governance’ and ‘financial compliance’ are not words that spark excitement in many, and for business owners and managers they may spark fear instead. However, financial compliance is a legal requirement for businesses of all shapes, sizes and types, and its importance spans across all industries. When embarking on the journey of a new start-up, survival […] The post How To Ensure Your Business Is Financially Compliant first appeared on The Finance Equation ..read more

Small business banking is often just one of hundreds of priorities those managing SMEs must juggle on a daily basis. When there is already an expert team in place at the bank dealing with your financial requirements for you, it can be easily overlooked in favour of business activities that require a more hands-on approach. […] The post How To Get The Most Out Of Your Banking Relationship first appeared on The Finance Equation ..read more

The creation of accurate financial statements is a mundane but necessary task for any business. While producing company accounts is never something entrepreneurs dream of doing when they first start out, it is still something that all business owners have to do on a regular basis. Here, we look at the importance of financial statements […] The post The Importance of Financial Statements first appeared on The Finance Equation ..read more

No decent entrepreneur starts out on their business journey wanting to compromise their success on technicalities. In taking the time to establish, grow and develop an enterprise, it’s easy to want to oversee and manage anything – but few business owners have the technical skills, qualifications and know-how to do this across all areas… let […] The post How to Ensure Your Business Is Tax and Legally Compliant first appeared on The Finance Equation ..read more

How to find capital for your business needs If you are a business owner keen to take your business to the next level, you may have found that the growth you want needs extra capital to fuel it. However, accessing capital is not an easy task. There are so many different sources of capital and […] The post How to find capital for your business needs first appeared on The Finance Equation ..read more

Business Planning and Strategy Implementation A formal business strategy is the key to fulfilling your company’s potential. It’s impossible to know what the future holds, but with a comprehensive business plan in place, your business is in the best position to take advantage of any growth opportunities that may arise – both planned and unexpected. […] The post Business Planning & Implementation first appeared on The Finance Equation ..read more

Profit Improvement Strategies – Why It’s Important? Profit as a concept is easy to understand, finding profit improvement strategies may not be but are essential for business survival and growth. If entrepreneurs and business owners do not understand how the profit in their business works then long-term survival is diminished considerably. From a top-level view, […] The post Profit Improvement Strategies first appeared on The Finance Equation ..read more

HMRC Additional Powers to Collect More Tax HMRC have recently been given new powers to access taxpayer information. This relates to anyone who may have offshore bank accounts or assets. HMRC are now issuing what is called “nudge letter” to anyone suspected of having undisclosed offshore assets. The finance bill 2020-21 introduces the financial institutional […] The post HMRC given additional powers to collect more tax first appeared on The Finance Equation ..read more