fbpx

6 reasons to look at your financial reports

6 reasons to look at your financial reports 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 doesn’t make …

Succession Planning for Small Businesses

Succession planning for small business 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 carefully thought-out succession plans and …

Spring Statement Update 2022

Spring Statement Update 2022 As you may have seen on the news, the Chancellor announced his Tax Plan on 23rd March. Here is a quick overview of the key changes which may apply personally and/or to your business(es): Employing staff and taking salary from your business: · The threshold for paying National Insurance Contributions (“NIC”) …

5 Ways to Grow Your Fitness Business Without Breaking the Bank

5 Ways To Grow Your Fitness Business Without Breaking The Bank Business growth often requires hefty investment, but there are ways of growing and improving your fitness business without spending a huge chunk of cash. If you’re trying to build your gym or fitness business on a conservative budget, take a look at the following …

Capital Allowances 130% Superpower! Kapow!Invest now or later?

Capital Allowances. Invest now or later? Earlier this year, you may have seen in the news – or online – talk of a new super duper 130% Capital Allowances deduction intended to accelerate investment by businesses. AKA the Capital Allowances Superpower! But unless you’re already claiming capital allowances tax relief, this might not mean much …

How do you know if your fitness business is profitable?

How do you know if your fitness business is profitable? As a gym owner or fitness business owner, you always have a million-and-one things to think about. It can be difficult to stay on top of the numbers and know which ones matter when it comes to the financial health of your business. However, it’s …

What can a virtual finance director do for your fitness business?

What can a virtual finance director do for your fitness business? After a sustained period of growth, business owners often find themselves in a tricky position. The business now requires an experienced professional to take charge of the finances, but hiring an in-house finance director is still out of reach. In this case, it’s time …

How can gyms make a profit, besides membership?

How can gyms make a profit, besides membership? https://southbourneaccountancy.co.uk/wp-content/uploads/2021/05/Revenue-Streams.mp4 Over the past year gyms and fitness centres have been looking at different ways to add profit to their business, with covid meaning bricks and mortar businesses have been closed, many have “pivoted” to online.    An online and offline gym offering are not the only …

The accounting trends you need to know about in 2021

The accounting trends you need to know about in 2021 As a business owner, it’s important to stay on top of accounting trends and make them work for your organisation. If you don’t stay up-to-date you might just find yourself left in the dust whilst your competitors improve their efficiency with the latest and greatest …