What is Key Person Insurance?

WHAT IS KEY PERSON INSURANCE?  Key Person Insurance is a form of commercial insurance which protects businesses against the financial loss it would suffer if a person considered a vital cog in their business died or was diagnosed with a critical illness.   It is to ensure business continuity and succession planning, something overlooked by many business owners, particularly when the company is small. It pays out […]

Understanding your profit and loss statement

Understanding your profit and loss statement Your profit and loss statement (P&L) helps you understand your business performance and profitability over time. It’s sometimes called an Income statement and its main purpose is to list income and expenditure.  Whereas a balance sheet is a snapshot in time, the P&L shows transactions over a specific period of time. […]

Understanding Statement of Cash flow

Understanding statement of cash flow Revenue is vanity, profits are sanity, but cash is king – or so the saying goes. That’s because cash is what customers pay in, and what shareholders get as a dividend.  So, you must want to know more about the impact of your business activities on your cash flow?   Understanding Your Statement of […]

How financial Ratios will tell you if your business has solid foundations (and how to read a balance sheet)

How financial ratios will help you build solid foundations for your business. As a business owner you will own lots of assets, owe other businesses money and have shareholders. The balance sheet brings all these together in a financial snapshot showing the businesses financial position at a specific point in time. Together with the Profit and Loss Statement, and Statement of Cash-flow, […]

R&D – How to get more cash back into your business

Research and Development – How to get more cash back into your business In February 2020, the government pledged to increase public investment in R&D to £22bn a year by 2025, meaning there is a significant opportunity for businesses to invest more on innovation and get cash back into their bank.  R&D is a tax […]

Insuring your fitness business

As a business owner, it’s essential that you protect yourself, your business and your clients’ by taking out an adequate, industry-specific insurance policy. It is better to be safe than sorry and protecting your business with the right insurance allows you to guard against risk and claim compensation for any losses. This is an intelligent business […]

Virtual Finance Director – what is one and do you need one?

Virtual Finance Director, VFD, outsourced advisor, management accountant, finance business partner – there are so many names and descriptions to contend with in the finance world, so what is a Virtual Finance Director? Smaller businesses often face the same challenges as larger businesses, but they cannot always afford a full-time Finance Director.  A Virtual Finance […]

Why choosing a local accountant is not always the best option

Why choosing a local accountant is not always the best option Does location matter?  The era of searching for an accountant in West Sussex, in Southbourne, in the next street is gone. The constraints of location no longer exist. As in every other service, accountancy`s gone digital! Yes, throw away those paper ledgers and move […]

The Cash in your bank

Cash solves problems, cash is king  What is cashflow?  Snapshot of business finances, it is a picture of money flowing in and out of a business. This picture shows the long-term financial health. You can track this on a weekly, monthly, quarterly or annual basis.   Why is cashflow important?  It enables you to buy supplies, […]