As the business owner you are not expected to be the finance expert. However, you must understand your financials and your cash flow. Many business owners who have run their own company for many years are often too proud to admit they do not fully understand accounts and finance. Do not be one of them!…
CASH FLOW TIPS: Craig Alexander Rattray offers advice on showing your bank that you are a good risk Remember, banks only make money when lending to companies, so they are always keen to do so, but only to companies that are a good risk. To secure bank lending, it is important to show that you and…
Without a financial map your business will struggle for direction, says CRAIG ALEXANDER RATTRAY “If you don’t know where you are going, any road will take you there.” A phrase attributed to Lewis Carroll. It didn’t actually appear that way in the Alice in Wonderland Books, although that sentiment was precisely what the discussion between…
SMEs are the lifeblood of the UK economy. The owners of many of these businesses have been the risk takers and the creators. They have created thriving profitable businesses, perhaps having taken the risk to leave employment themselves, and to employ others often to their own short-term detriment. In many cases the business owner is…
A focus on cash for many businesses is vital for the challenging months ahead, writes CRAIG ALEXANDER RATTRAY “Cash is king”. A phrase that has been used over the years to highlight the advantage of holding cash compared to other assets. For the typical SME business owner, never has this phrase been more important. Anyone…
A Growing Business Also Creates More Risk Many business owners have multiple opportunities but a combination of fear and uncertainty, a lack of knowledge of how to do it and the related financial implications, as well as a lack of finances, prevents them from taking advantage of these growth opportunities. Like many finance-related problems and…
How to Run Your Business From the Beach Despite widespread expectations, the Chancellor did not make any changes to the capital gains tax regime and business asset disposal relief in the Budget. So, what now? Most commentators expect the changes are inevitable and, sadly, I agree. We can safely predict that the new regime will…
