#AskAnnette

Annette hosts the weekly #AskAnnette Show, a business growth and finance focused Q&A video show.

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Six Simple Steps to Build Your Own Profit Plan

You can ensure that your business is going in the direction you want it to go by building your business’s profit plan. If you haven’t made one yet, here’s a simple guide you can use for your business profit plan. Building Your Business Profit Plan – How To Do a Business As Usual (BAU) model. Start with …

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What is the VAT Flat Rate Scheme?

Her Majesty’s Revenue & Customs (HMRC) Value-Added Tax, VAT Flat Rate Scheme has existed since the 2002 Budget. This was introduced for small businesses owners, so they can be relieved of the administrative burden when preparing VAT returns by having them pay roughly the same amount of VAT without the complexity of much paperwork. The …

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Should I Register For Vat?

For substantial business decisions, most entrepreneurs have to rethink the idea a thousand times before coming to a choice. The same goes for the resolution of registering your establishment for value-added tax. As your sales start to grow, it is ideal to begin contemplating if VAT registration will benefit your business. In the last 12 …

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What is a Long-term Liability?

A long-term liability is a company’s financial obligation that is not due within the next 12 months or the current operating cycle (if it is more than 12 months). It is also known as long-term debts or noncurrent liabilities. Businesses need to generate funds as capital to cover their various activities, expenses, and investments. Loans …

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What Is Depreciation?

When you open a packet of a perfectly sealed food product you’ve bought from the grocery store, even if you haven’t taken a bite or reduced the contents, the value of the item is reduced to zero. Under normal circumstances, it would mean that you cannot refund your purchase at this point anymore. Depreciation is …

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What Is A Current Asset?

The Wealth Lab is back again! Every businessperson or entrepreneur started his or her enterprise with certain foundations in place. Nobody ever created a business from scratch. Everyone started with something such as capital (loan or savings), creative idea, skillset, and motivation, no matter how small. These things are what we call business assets. Generally, …

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What Is An Intangible Asset?

Assets may vary with convertibility, physical manifestation, and duration, but all of them are equally essential to an enterprise’s success. They play a vital role in the everyday operation and existence of both a start-up and an industry giant in the world of business. Whatever asset your business harbours, hold on to that and try …

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What Is A Tangible Asset?

The Wealth Lab is back again! Assets are a vital part of any enterprise, may it be a start-up or a multimillion company. It holds a significant economic value that facilitates the continuous operations of your business. It increases a company’s value and helps in generating its income and revenue. Anybody can own an asset …

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What Is A Fixed Asset?

The Wealth Lab is back again! An asset is any valuable resource owned by an individual, a company, or an enterprise that can generate money in the future. In layman’s terms, it is anything that a person owns. The term “asset” is commonly used in several fields, such as accounting, business, and finance. But the …

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10 Steps in Becoming an Influential Leader

Over the years, management has changed from ultra-authoritative to a more collaborative style, emphasizing influence. However, nobody becomes an influential leader overnight. To carve influence, you have to put in a substantive amount of time spent learning, re-learning, and even unlearning leadership practices.   The Oxford dictionary defines influence as “the capacity to have an …

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