Cash Management

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What Is A Trade Creditor?

It’s safe to assume that every business is a trade debtor and trade creditor at some point. In our previous article, we’ve discussed what a trade debtor is. To recap, it refers to businesses that are on the purchasing end of the deal. Trade debt is incurred when a company acquires products or services from …

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Why It’s a Great Time to Start a Business Now?

For us humans, we are well known to be innovators and creators of the natural world. With our mental capacity (and opposable thumbs), we have conquered the world and became the dominant species. As the years went on, we needed to develop our societies as well. Our ancestors did not just rely on living the …

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What Is A Debtor?

As individuals, there are certain times when we encounter emergencies. When we think of this word, one of the few descriptive words that come to mind is “life-threatening”. From accidents to forces of nature, we may have encountered them in or another.    However, most of us will face emergencies of the financial kind. We …

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Should I Lease A Car Through My Business?

Billion-dollar companies have the purchasing power to buy whatever is needed to make business efficient, including a fleet of cars. However, small to medium-sized enterprises need to focus and consider their cash flow before committing to something as expensive as an automobile. Since cash flow is necessary for survival, discretionary expenses should be kept at …

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Why Most Accountants Are Not Equipped To Give Profit Or Business Growth Advice

There are book accountants and there are Chartered Accountants who are Profit First Certified. The latter is me, Annette Ferguson – Chartered Accountant and Profit First Certified Professional.   There is a big misconception surrounding an accountant’s work. Yes, traditional accountants are meant to help you stay on top of your balances. They help you …

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Should I Run Payroll In My Business?

During the early days of a business, owners concern themselves in finding ways to generate more revenue. Investing in services and systems for employee salary is the very last thing that occupies their minds. But paying your employees the right way is a critical responsibility that can affect your business in the long run.   …

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Why It’s A Good Time To Go All In On Your Side Hustle?

“It’s always better to have a second source of income.” I’m sure you think that, too. If you’re a paid worker or “salaryman” as what most people would call it, one of your greatest fears probably has something to do with making ends meet. Most months, strictly budgeting your income is enough to suffice your …

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What Is The Difference Between Gain and Profit?

It is vital to get a firm understanding of all substantial terms in business, especially ones that involve your finances. One great example is the inaccurate interchangeable use of profit and gain in the industry. These two accounting terms both pertain to business earnings, but their similarities end there. It is time to create a …

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What is IR35?

In order to address “disguised employment”, the HM Revenue & Customs introduced the IR35 or the “off-payroll working rules”. IR35 evaluates whether a business’s contractors are employees or self-employed whenever they take on work for clients.    If the contractor is “inside IR35”, the government sees the person as an employee. Therefore, they face an …

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Is Now A Good Time To Start A Business?

If you’re always waiting for the perfect timing, you’ll end up waiting till the end of time. A lot of things in life do not come at the “perfect time.” Whether it’s love, marriage, having a baby, a career change, or starting your own business, you can never know for sure when the right time …

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