Whilst behind the scenes at Kick Ass Talks we are busy preparing for Anna Goodwin’s Talk on 25th April 2016 –Here is a blog Post Anna has written on 5 Ways to Save you Money, Time AND Stress
1. Be Tax Aware
We can’t avoid taxation. It is an integral part of a business’ existence.
In this current business climate, taxation is ever changing and being on top of these changes means you won’t be paying any unnecessary charges or causing yourself any undue stress.
For example, from 6th April 2016, the tax rate on dividends will increase by 7.5%.
If you pay extra dividends to beat the 6th April deadline, timing is important. Company law determines the date dividends are treated as paid, which is also the date of payment for tax purposes
Every month I publish Anna’s Accountancy Alerts, where I deliver the most important information that you need to know. Follow me on Twitter @AccountantAnna, so you’re kept up to date.
So be tax aware, it will save you money and a lot of stress. If you are in any doubt at all, contact your accountant.
2. Your Cash Flow, Your Business.
Profit is never more important than cash flow. Small businesses make the mistake of thinking otherwise, but if you’re not aware of your cash flow and if you don’t forecast your cash flow accurately, then future business plans can’t be put in place.
Preparing a cash flow forecast will enable you to identify where the highs and lows will be throughout the year, so you can make sure you have sufficient reserves in place.
Planning is everything in business. It creates focus and a thorough understanding of where your business stands right now.
Getting those unpaid invoices paid is critical too.
“More than £67 billion is owed to UK businesses in unpaid invoices” says Michael Court
Firstvoice Jan/Feb 2016
Get a system in place that works for you enabling you to track the unpaid invoices and chase for the payment.
3. Take Advantage of the Digital Era
It feels like the digital era has been here forever. Whether you curse it or just think you haven’t the time to get your head around it, small steps can really improve the way your business operates. Saving you money and time.
Make the transformation from direct mail to email marketing. Switching from weekly emails to your customer database can be a huge cost reduction. Printing newsletters or mail shots on a quarterly basis is a nice compromise.
Improve your online presence with social media profiles and regular fresh content. This will increase sales whilst developing new communications channels between you and your customers.
4. Get the Right People on Board
How often have you recruited a person into your company and been disappointed by their performance?
Getting the wrong person can have a major impact on your business. If you’re not clear about what you do as a business, you are going to attract the wrong candidates.
5. Outsource, Outsource, Outsource
I have mentioned this in previous blogs, but it is relevant here as it is with many other areas of business.
There are many aspects of your organisation that can be outsourced from something small like an email campaign to warehousing. Research it and make sure you have enough control but without the stress and high costs of doing it in house.
If you are focusing on a particular project, then outsourcing can be extremely useful, allowing you to increase the resources without the long term commitment.
– See more at: http://annagoodwinaccountancy.co.uk/news/31/72/5-Ways-to-Save-you-Money-Time-AND-Stress#sthash.oied5cJ0.dpuf