Archives for Updates

If you outsource any aspect of your business to a third party do you have an Engagement Letter from each service provider and what should you do if something goes wrong? We have recently engaged a few new clients who have experienced issues with their previous accountancy providers.  Whilst this is good news for our business, as we gain new clients, it’s also bad news for the profession.  The clients’, having been disappointed with the previous service they have received, almost become distrustful of the profession as a whole. Having gained the clients we are now having to work extra
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“My client has not paid me” If you frequently say this and you don’t have a credit control process what should you do? We all know only too well why we start a business, and the reason is personal and differs for each and every person.  However there is one goal in mind….to make something to sell or to provide a service that we will get paid for. You have started your business, you’ve activated your Facebook, Twitter and Google+ pages, you’ve had your business cards and letterheads designed, you’ve registered your business either by registering as self-employed with HMRC
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How much can you afford to pay to retain good staff? We all know that we should value our employees and one way we can do that is to pay them a fair wage for a fair days work.  However, as a micro-SME, how much can you afford to pay to retain good staff?  The National Minimum Wage (NMW) was introduced by the Labour Government in April 1999 and at the time some 1.9 million people were believed to be paid below the proposed rate of £3.60 per hour (employees of 21+).  The hourly rate has largely increased over the 16years since
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Having recently taken part in an FSB Wales Round Table Seminar on the subject of Non-Domestic Rates in Wales, I thought I would base my latest musing around this very subject. Working with a number of home based businesses who are considering moving to premises makes this subject all the more pertinent. We ask the question – should you rent or purchase? Because the answer has a big impact on your forecasts. If the proposed changes to NDR come to fruition then you may be better placed to become a tenant. In simple terms, the proposals are to scrap NDR
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Knowing your numbers equals a realistic growth strategy. Are you a busy person working in your business day to day and just managing to keep your head above water? This is typical of many owner managed businesses; you’re so busy working in your business you soon lose track and stop working on your business, despite wanting to grow and increase your turnover. If I was to ask you if you were on track to reaching you sales goal for the month, what would your answer be?  Is it as simple as looking at last month and adding a little? Is
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Statistics At the start of 2014: There were an estimated 5.2 million businesses in the UK which employed 25.2 million people, and had a combined turnover of more than £3,500 billion Small firms accounted for 99.3 per cent of all private sector businesses in the UK, 47.8 per cent of private sector employment and 33.2 per cent of private sector turnover Small and medium sized businesses employed 15.2 million people and had a combined turnover of £1.6 trillion Of all businesses, 62 per cent (3.3 million) were sole proprietorships, 29 per cent (1.5 million) were companies and nine per cent
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A change to workplace pensions was introduced in October 2012 and whilst most have kept half an eye on the changes I bet that the majority have taken their eye off completely. It appears that thousands of small businesses are believed to have missed the legally binding deadline to introduce occupational pensions for their employees and it has been reported that The Pensions Regulator has started to dish out fines. The Pension Regulator checks fulfilment by comparing PAYE with auto enrolment data and can issue compliance notices, penalty notices and fined for those failing to adhere to the rules. The
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Having recently read an article in the Sunday Express entitled “Teach our children to be expert with money” and observing some key comments made in the CSA Conference 2014 about educating our children at primary school age to understand debt and its implications, it got me thinking. Should we educate children on how to run their own business and understand the financial implications of being a business owner? I’ve previously written that there were 5,974 new businesses formed in Cardiff in 2013 and that no doubt as I write this a fair few have failed, leaving the business owner in
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We at SeaMount Business Services Ltd are proud to be sponsors of The Royal Welsh, a new regiment for Wales, following the amalgamation of The Royal Welch Fusiliers, The Royal Regiment of Wales and The Royal Welsh Regiment in March 2006. The Regiment currently has 2 regular Battalions, some members of which are deployed on operation duty in Afghanistan and members of the 3rd (Territorial) Battalion have been mobilised in their support. With our very own Managing Director, Adam Hiscock holding the rank of Flight Sergeant at 2308 Cwmbran squadron of the Royal Air Force Air Cadets it is of
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