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How to survive lockdown – for the second time! No-one wanted another England-wide lockdown, especially as many UK businesses were barely back on their feet following the original March 2020 lockdown. But the seriousness of the Covid-19 situation in the UK has resulted in another......

What is a strategic alliance and why should you consider forming some?   Your business may compete head-to-head with a number of other companies, but this doesn’t mean you have to treat ALL other businesses as if they are the competition. In fact, there are......

Every business needs a plan. Your business plan will keep you focused and help convince investors to lend you money. But how do you write the perfect business plan? Here are 10 steps to help you get it right.   You may be wondering why......

Promoting your goods and services to potential customers is at the heart of running any successful business. And to advertise your brand in the modern world means diving into the world of digital marketing – i.e. online promotion activity for your business. 87% of consumers......

Poor virtual meetings will extinguish your humanity in minutes. Here’s Winsborough’s guide to getting them right. In the world before lockdowns, self-isolation and work-from-home virtual teams and remote meetings were on the rise. Now they are nearly guaranteed to become the predominant mode of getting work done for......

It’s a well-worn phrase, but it’s imperative that you control your cashflow, as this really is the lifeblood of your business. When your cash inflows are greater than your cash outflows, that puts you in a positive cashflow position – giving you the liquid cash......

It takes guts to start a business. It also takes a strategic mindset to succeed. Business owners are no strangers to weighing risk and navigating uncertainty, but the current climate has dialled everything up. Many business owners face the uncomfortable position of having to remap......

Xero offers your business a simple, yet powerful, way to manage all your finances in the cloud. With Xero as your core finance system, you get real control over every element of running your business, from basic bookkeeping right through to efficient online invoicing, live......

Buying an existing business can be a great way to get started as a business owner, or to expand operations if you are already running a business successfully. Established businesses have already done the hard work of setting up a business, so you can get......

Accountants do more than you think. They can give you strategic advice and come up with clever ways to save money or boost revenue. They’ll also remove or automate administrative tasks that distract you from your core business. Get an accountant and you’ll run your......

Do you understand the story your Balance Sheet tells about your business? It’s important you understand the components of your Balance Sheet and the key ratios that measure the health of your business. It measures the net worth of your business. You Balance Sheet is......

When we set out on a fishing trip or hike, we always check the weather forecast. It’s no different in business. The forecast tells us if there’s bad weather (poor cashflow) in store based on the direction we’re heading. Your forecast will tell you: Whether......

We’ve all heard of a “Unique Selling Point”, or USP. But what exactly is it? Making your business stand out in a crowded market can be a challenge, but differentiating your business will be key to attracting the right customers and giving them a reason......

You’re in business, congratulations, that takes courage and commitment. But how do you build a better business – one that brings you the success you’re looking for? It’s not easy, and at times you might find yourself questioning why you’re even doing it, but you’re......

If you want to reduce bottlenecks in your business and increase efficiency, you need an organisation chart – simply redefining your structure won’t be enough. There are five things which are critical to getting the best from your organisation structure: Keep it visual. Your Organisation......

Generating leads is the biggest challenge faced by many business owners, and having a decent marketing plan is crucial to success. And if you want more enquiries, leads and sales, that means investing in more marketing. If you’ve never attempted any marketing of your business,......

Making time to look over your financial reports each month is an important task for any business owner. If you are not taking the time to do this, either because you’re too busy, or perhaps you don’t really understand what you’re looking at and it......

The coronavirus pandemic has forced a significant amount of change and upheaval onto you and your team – in a very short amount of time, and it’s now more important than ever to safeguard your team’s mental health. We’ve gone from ‘business as usual’ to......

The purpose of a business is to make money, and that means you have to know the difference between profit and cash flow. Net profit is what you have left after you deduct all your business expenses from all your revenue. You change net profit......

Not all business owners want to grow their business. Some may just want to regain control. Afterall, your business is there to serve you; you shouldn’t be a slave to it. So, how do you regain that much needed control? There are three essential tools......

Whatever your business, it’s likely that COVID-19 will be impacting you.  You may be dealing with stock shortages, exporting issues, disrupted travel plans or a sales downturn due to tourist drop off.  The key now is to plan ahead for this disruption. Here is a......

We all want to save time, money and stress! And at Abacus, this is something we belive in passionately.Our clients enjoy having more money and time to spend on important things outside of their business, along with less stress. Is your business stifling your freedom?......

As the director in a limited company, dividend payments are the usual way for you to take money out of the company – and see a financial return on your investment into the company. Dividend payments made to the company’s shareholders when the business has......

What exactly is a forecast? Well, for centuries, accounting was all about reviewing historic information – but that only told you about the past, not what was going to happen in the future. If you’re only looking back at past periods and historic numbers, that......

Most of us aim for work-life balance, but it can be a tricky thing to do when everything gets busy. Here are a few tips that might help at any time of year: Take holidays – Holidays are great for allowing you to reset your thinking......

If you haven’t yet heard about the government’s new Making Tax Digital (MTD) scheme, and you own or run a business in the UK, it’s about time you got your head around the new legislation (and how it’s going to change your tax practices moving......

In case you’ve noticed something different about us – we have a brand new website! We’re pleased to unveil our brand new website, which has been designed and developed by local designer Hannah Howat, and written and optimised for search by content development firm Indy......

With the tax rules and regulations changing on a regular basis, it may be advisable to seek advice from an accountant to check you are paying the correct amount of tax; as either an individual or as a company. This can avoid any potential nasty......

Starting a new business can be a very stressful time, but it is important to make sure you have measures in place to ensure you do not trip at the first hurdle. Businesses are most vulnerable to failure during the early years of trading, with......

So what’s all the fuss about business networking? Here at Abacus, we pride ourselves in keeping in contact with our current clients, but also in developing relationships with new potential clients. Networking events are a great way to meet new people face to face and,......

Reasons To Be Self Employed So you’re thinking about becoming self-employed? What should you do? Well, first things first you need to contact HMRC. You should tell them that you want to register as self-employed and also the date you started your business. You then......

Why do businesses go bust? Businesses run into problems for all sorts of reason but most of them are avoidable. Here are some of the most common problems we come across. Failure to understand your market and customers Think about who your customers are and......

Some business owners don’t consider business insurance as being essential and feel it’s an expense they would just rather avoid. However, even with the financial considerations, this should definitely be a incorporated into your budget. Accidents unfortunately do happen, no matter how hard we try......

We all want to be a successful entrepreneur, but how on Earth do you go about growing your business? When starting your business, you are always going to invest a lot of time, money and effort into getting your business off the ground and up......

So you’re thinking about a limited company, but you need to know when to incorporate. You also need to know the pros and cons of doing this. Generally a “Limited” company will end up paying less tax than a Self Employed person – depending on......

Cloud accounting systems are slowly but surely becoming the preferred method of choice in many areas of business. There is an array of advantages around using cloud accounting systems; here we explore some of these so that you are prepared for your next step into......