Look, we’ve been there. You’re focused on delivering a project. Then another. Then something enormous comes along and takes up your time. Before you know it, the year’s up. And then it suddenly hits you that you’ve got a self-assessment return to file, and you’ve got absolutely no idea where to start.
small business finance
Investing in one’s own business comes with a high risk of not achieving the expected results. The level of competition in the UK’s market is high: since 2015, more than 500,000 start-ups have been launched every year. In the first six months of 2018, more than 300,000 new companies have been registered.
Whether you are a start-up or an established business, efficient money management should be a core value. That means planning, organising, controlling and monitoring all financial resources, all of the time. The business world changes hour by hour, what was working well last week isn’t necessarily doing so this week. Effective management of company money means you are making the best use of your resources, it will make and keep your company competitive, ensure that your stakeholders get optimum rewards and lay a solid foundation for future stability.
In a study carried out by the Competition and Markets Authority (CMA) it was found that a staggering £7 billion is being wasted by small and medium-sized businesses which have been overpaying on their gas and electricity bills. And yet, this massive overspend could easily be avoided – says Nolan Braterman from Frontier Utility.