What are your Duties to your Staff?

Businesses have a certain number of duties towards their staff members. These could range from paying them on time, to making sure they are enrolled in a pension scheme. However, there is also a more holistic side to the role, and you really should be making sure your members of staff are happy and able to perform their duties to the best of their abilities. A large part of this is about communication. You should make sure you talk to your staff honestly, and have an open forum for communication. Schedule in regular one-to-ones with each member of staff to check that they are ok and are enjoying their role. You should also make sure your staff know you are approachable. It doesn’t benefit you at all to be a stern, unapproachable figure. You want to know that your staff will come to you with any problems they have at...

Being a Responsible Business Owner

Being a successful business is about much more than just making money. You need to be practical and responsible, doing business in sustainable ways and looking after your members of staff. There are always small adjustments you can make to become a more responsible business owner. Think about working with local suppliers and managing your business in an environmentally friendly way. These things all have an impact on your local area and community, so they are really important. You may also want to give some of your businesses’s time to money to charity. Responsible business is the only way to create good practices that will last you well into the future. Create strategies that allow for growth, but that never allow you to lose sight of important business goals and ethics. You can truly take pride in your business if it reaches a level where it is highly profitable, but...

Business Coaches – Improving your Financial Situation

Business coaches provide services for businesses to help them grow and thrive. Whilst most are not financially involved per se (they will not lend money or give direct financial or investment advice), a good coach will help you to become more profitable. This can be a good step towards rectifying any financial difficulties you may be having. Business coaches can help you in a variety of ways. If you contact a coach with the aim of making your business more profitable, they will be able to advise you on strategies to generate more income. They will usually spend some time observing your business and looking into your systems and methods, in order to establish where changes can be made. They will then help you devise strategies to push your business in the right direction. A coach can be just what a struggling business or new business venture needs. Experienced coaches...

Do you Need a Bookkeeper?

A bookkeeper can be a vital resource for a business. They will keep track of everyday costs and transactions, making sure the books always balance. They will not be able to do as much as an accountant but if you just need some basic help with finances, a bookkeeper could be exactly what you are looking for. You could hire a full-time bookkeeper or you could hire someone through an agency to do the books for you. It depends on how much work you will be able to offer them. A bookkeeper may not necessarily have any formal qualifications but if they do, they would probably expect you to pay them a good salary. If you are a sole trader or own a business, the finances can become difficult to keep track of alone. Hiring a bookkeeper to take care of everyday finances and tax returns could be the best...

The Financial Implications of Becoming a Sole Trader

A sole trader is someone who works alone. They may be someone who completes work for other companies or they may run their own business as a single person. Registering as a sole trader doesn’t cost anything in itself and anybody can register. However, there can be some financial implications that need to be considered. If somebody sets themselves up as a sole trader, they will no longer have an employer. They will need to source all of their own work and contracts, so they will have no financial help available to them. If they need support in future, such as maternity pay or sickness pay, the rules and regulations will be different. The sole trader will also be responsible for their own taxes and they will need to fill in a self-assessment for each tax year that they work. They may need to pay a bookkeeper or accountant to...

Qualified Accountants in Milton Keynes

When you are a business owner, it can be beneficial to have professionals helping you with account maintenance. Doing so allows you to let them handle the accountancy so you can focus on your business. An accountancy Milton Keynes firm can handle these types of services for you. Accountancy firms handle a wide range of services. There are three basic areas that come under the heading of accountancy. These are accounting, bookkeeping, and auditing. You can hire a firm to handle a part or all of these services.