To understand the financial position of a business at a specific point of time, look at the balance sheet. The balance sheet may also be called the Statement of Financial Position. Together with the Profit and Loss Statement, and possibly other reports such as the...
With most of the Government’s Covid financial support schemes now closed, the Recovery Loan Scheme (RLS) has been a last route to funding for many Covid-impacted businesses. The RLS was scheduled to end on 31 December, putting a very final full stop on...
Are you struggling with late payments? All business owners know that cash is the lifeblood of any business. The key to improving your cash flow is to monitor your outgoings as well as your incomings – this means you need to manage your expenses as well as your sales....
Do you want to increase efficiency and grow your business? Xero is an especially effective tool for those businesses in the building and construction industry. The many features and functionality make it the perfect accounting solution for simplifying your finances,...
It’s time to ditch the Excel spreadsheets and develop smart factories. Industry 4.0 (referred to as the Fourth Industrial Revolution) was first introduced in 2011 by the German Government as a strategic initiative to fully computerise the manufacturing industry...
Budget 2021 announced a successor loan scheme to support UK business recovery. Earlier coronavirus (Covid-19) loans, like the Bounce Back loan, closed to applications on 31 March 2021. The new Recovery Loan Scheme (RLS) launched on 6 April 2021 and runs to 31 December...