Guides & Tips

Budget 2008: What it means for your small business Mar 12 2008
Alastair Darling has delivered his first Budget and while the highlights in his speech seem to show a fall in tax for business, there are a few additions to the tax burden for SMEs. SmallBusiness.co.uk spoke to Paul Webb from tax experts Robert James Partnership on the effects for SMEs. Read Clever cash flow management Mar 03 2008
Keeping a strong and steady flow of cash running through a business is critical to a company’s long-term success, enabling it to pay its staff on time, fulfill new orders and purchase raw material and even new equipment. Here are a few simple steps to help you avoid the stress of cash drying up. Read How to reduce your tax bill Feb 08 2008
Death and taxes may be the only certain things in life – but there are ways of minimising the impact of the latter. Read What is a good excuse for a late tax return? Jan 25 2008
With just one week to go until the tax return deadline, the Federation of Small Businesses (FSB) is calling on HM Revenue and Customs to be more lenient on the late filing of around half a million self-assessment tax forms. This video from the Federation of Small Businesses deals with the accepted excuses for handing in your tax return late. Read How to survive the Dragons’ Den Jan 23 2008
Aside from the entertainment value, there are a number of valuable lessons to be taken from the BBC’s Dragons’ Den. Here are the top five from Smallbusiness.co.uk. Read Get your business ready to sell Dec 11 2007
As an entrepreneur, you start your company because of your passion for what you are doing. Yet, no matter how much you love your business, you will eventually need to sell it. This guide from SmallBusiness.co.uk offers three great ways to ensure you get the most money possible for it. Read Get ready for the January tax deadline Nov 28 2007
The January tax returns deadline is looming again and HM Revenue and Customs (HMRC) is clamping down on avoidance so some straightforward good housekeeping will help you avoid any slip-ups. Read Keep your business on track Oct 16 2007
More and more people are escaping the daily nine to five grind and starting up their own business. Yet business owners should not become complacent once they have overcome the initial start up hurdles but should keep track of company performance. Here's how. Read How to reduce your tax bill Sep 12 2007
If you run a limited company from home, a proportion of the expenses used for business can be charged against your profits. Which means you subtract those costs from your total taxable income when filing your tax return. This guide will help you find out how. Read Bridging the funding gap Sep 03 2007
Business owners are constantly encouraged to strive for growth, take on employees, buy equipment and find new customers. The problem is deciding what type of finance is the most suitable and which provider can meet your needs. This guide will help. Read Managing debt Jul 09 2007
As small and medium-sized businesses consider the impact of interest rate rises, SmallBusiness.co.uk and Alexander Baldock, commercial director of Barclays Business Banking, outline their top tips for managing debt as the cost of doing business increases. Read How to reduce your overheads Jun 22 2007
Increasing the turnover of your business is not always enough to improve your profit margins. Cost control and reduction of overheads play an important part in managing the margins of small businesses. This guide from SmallBusiness.co.uk and purchasing service Companeo helps you consider your business spending and highlights areas where you can make some easy reductions. Read Dealing with business failure Apr 16 2007
According to the latest figures released by business analyst and information service Experian, corporate insolvencies in the UK have fallen by 8.8 per cent during the first three months of 2007 compared to the same period the previous year. This guide should help to clarify the key distinction between an IVA and bankruptcy. Read Spring clean your business Mar 26 2007
With spring having sprung and a new tax year nearly upon us, it's an ideal time for small businesses to clean out their finance cobwebs, improve administrative procedures and streamline for the year ahead. Read Effective cash flow Mar 05 2007
One of the critical elements of running a successful business is being able to manage your cash flow. Smallbusiness.co.uk and Simon Cowie, head of corporate services at chartered accountants Hall Morrice have these tips for ensuring that your cash flow is managed successfully. Read Top tax return tips Jan 08 2007
With the tax return deadline looming, it’s vital that you fill in the forms correctly to avoid any penalties. If you are not filing your tax return online you will need the relevant documents in good time to meet the 31 January deadline.
Click here to read our top tips... Read Keeping your books in order Dec 15 2006

Over the busy and expensive Christmas period, many people will be waking up to a financial hangover on New Year’s day. SmallBusiness.co.uk and Tracy Ebdon-Poole of TaxCalc.com offer these top tips to keep your business out of the red and get your new year off to a healthy start.
Click here for New Year's financial advice...

Read How to forecast more accurately Dec 14 2006
If you already run a business, you will have a trading history and will be able to use this to make decisions about the future. On the other hand, if you are just about to start up you will lack that history, and while you can make some assessment of the initial monthly outgoings, particularly fixed costs, the real challenge is to accurately predict the likely sales revenues.
Click to read a guide to forecasting... Read How to punch above your financial weight Dec 13 2006
A key element of business growth is having the finance available to make the most of opportunities as they arise. Maintaining a steady cash flow and securing additional funds for expansion and development are two of the biggest challenges facing smaller firms.
Click here to learn more... Read Dragons' Den's Evan Davis on raising finance Dec 04 2006
Evan Davis, presenter of BBC TWO's Dragons' Den and the BBC economics editor, believes there is no use complaining about the struggle to raise finances when starting up a new company. For Davis, it's simply part of the entrepreneur’s lot. Read Get funding from the Angels Nov 17 2006
If you are thinking about starting or growing a business, one of the toughest challenges you will face is securing funding for the project. Various sources of funding are available, from government grants to Business Angels (BAs).
Click to read on... Read How to prepare for investor presentations Nov 14 2006
As a public relations professional and serial entrepreneur, Lee Henshaw might be expected to take investor presentations in his stride. Henshaw has raised finance for three companies, including his latest venture Happy Cuttings, but he still had more to learn.
Read this case study to learn more... Read How to stop late payment Nov 06 2006
Late payment is costing UK small businesses an estimated 286 million man hours and nearly £3.6 billion per year. Over 2.5 million small businesses are affected by it. Read on for our top tips to reduce the effect of late payment... Read Staff and wages - Pay attention! Nov 06 2006
If you are at the stage in your business development where you can begin to employ staff, there are various issues to consider, including costs of recruitment and establishing the right pay levels for prospective employees. Read our guide to the issues… Read Debunking tax myths Oct 11 2006
The tax system is complicated enough, yet a number of misguided beliefs about tax are adding to the confusion, according to the Institute of Chartered Accountants in England & Wales (ICAEW). Anita Monteith, technical manager at the ICAEW Tax Faculty, separates the fact from the fiction for UK taxpayers. Read Sole traders and VAT Sep 26 2006
When starting up as a sole trader, the concept of VAT is one that should be uppermost in your thoughts. This guide should tell you what you need to know. Read Age and employment Sep 13 2006
It would be unwise to put an age ceiling on recruitment for two reasons currently and a third one from the 1st October 2006, explains Peter Done of Peninsula. Read Need to know: Asset-based finance Aug 30 2006
Waiting for invoices to be paid before investing the proceeds in your business can seriously impede growth. Alex Tomlin examines how factoring and invoice discounting can speed up expansion Read How interest rates affect your business Aug 16 2006
When it comes to the cost of borrowing, burgeoning UK ventures have rarely had it so good. Base interest rates are at historically low levels, having been on a downward trend since the late 1980s. But this could be about to change. Read Which products have VAT on them? Jul 19 2006
There are three categories of product or service for VAT. The majority of goods and services are Standard rated (subject to VAT at the standard rate, currently 17.5 per cent), some are ‘Exempt or Zero-rated’ and some are at a ‘Reduced Rate’ (currently five per cent). Read Are you an IR35 tax case? Jun 26 2006
Small businesses often have trouble understanding the best way to pay themselves. For example, if you started your own limited company and work through another agency, you may fall under HM Revenue & Customs' IR35 laws. Read Debt recovery explained Jun 09 2006
Sooner or later almost every business finds itself desperately struggling to track down payment from an aloof customer. Where conventional methods fail, debt collection agencies offer an alternative solution. Read Do you need an accountant? May 03 2006
Accountants provide a wide range of services. When starting a business you need to talk over with an accountant what records you need to keep for the business, how much to set aside for Income Tax and National Insurance, how to notify the Inland Revenue (and who else you should notify) and whether you need to register for VAT. Read Valuing your business for sale Feb 15 2006
Pricing companies is a dark art. Your valuation and that of potential buyers are unlikely to tally, yet value it you must before you can begin any sort of sale negotiations. Read Borrowing from family and friends Jan 10 2006
At some stage, your business will need to get its hands on capital. If it’s below the radar of outside investors and bankers are giving you the cold shoulder, you may consider tapping your friends and family for investment. Though this funding has its advantages, it is also fraught with pitfalls. Read Christmas cash flow tips Dec 14 2005
As shown by the recent smallbusiness.co.uk poll Christmas can be a difficult time for small businesses as sales fall away over the festive period causing cash flow problems. Follow these ten golden rules to avoid financial headaches over Christmas and into the new year. Read Guide to raising finance Aug 15 2005
Money makes the world go round and is very handy for keeping businesses going. This guide offers some useful hints and tips for raising finance. Read Tips on saving tax Aug 15 2005
No one likes paying tax, least of all small business owners, so here are some tips for ways to reduce your tax bill or claim back tax already paid. Read Guide to chasing money you are owed Aug 15 2005
Customers not paying on time can be fatal for a small business so use these tips to successfully chase those reluctant to pay up. Read Guide to wages records Aug 15 2005
Legally, you must keep proper records of all wages paid to employees and this guide will show you exactly what information to record. Read Guide to staying afloat Aug 15 2005
The early stages of any new business are difficult and survival is paramount. Use these tips to help you through this tricky period. Read Balance sheet template Aug 15 2005
Use this blank balance sheet template to help you work out forecasts. Read Profit and loss template Aug 15 2005
Use this blank template to build your own profit and loss account. Read Guide to presentations to raise money Aug 15 2005
The way you present your idea or business plan to potential investors could be the difference between business success and failure so it's vital to get it right. Read Getting paid by credit and debit card Jun 02 2005
Being able to receive payments by credit and debit card enables you to do business using internet, electronic or paper-based systems, making it much more versatile than cash or cheques - and setting up a system is quick and easy. Read Business Banking basics Dec 02 2004
In order to open a bank account, even a basic one, all banks and other financial institutions must go through a series of checks to try to minimise the effects of money laundering. Read Opening a business bank account Oct 21 2004
It is not a legal requirement that you open business account – but there are several reasons why it is a good idea. Read How to improve your credit rating Mar 18 2004
When it come to assessing an individual’s application for credit, banks and other lenders will focus on two main issues: your credit history and your credit score. Read How to open a foreign currency account Nov 06 2003
If your business has a strong hold in the overseas market, or you regularly receive and make payments in a foreign currency, then you may benefit from opening a foreign currency account. Read