8 Company Cash-Flow Fixes you can Implement Right Now

  Effective cash-flow management is one of the most critical factors in the survival and growth of a business. Knowing where to get cash-flow fixes quickly and free of charge isn’t always easy.  As long as you have a saleable product or service, your costs are under control and the business is profitable, there’s no …

Late Payments for UK Businesses Hit Two-Year High

Recent research has revealed that the number of late payments in the UK has hit a two-year high. Trying to get paid has never been easy and you can learn about chasing invoices on this website by the way.  The level of late payments experienced by British businesses in the final quarter (Q4) of 2015 …

How to Chase Unpaid Invoices

How do you chase unpaid invoices? When you’ve completed work that the client is happy with, they should then pay for your services within a reasonable timeframe. That is how the wheels of commerce turn.  The problems come when it’s two weeks past your usual 30-day payment term and you still haven’t received the payment. …

‘Personal Guarantee Following Liquidation’ Template Letter

If a bank has written to you following a company liquidation then you may be under the impression the bank will not write to you to ‘call in’ a personal guarantee as your company may have assets. It is highly likely the bank will write to you before the liquidation or certainly shortly after to …

‘Chasing Debtor Payments’ Template Letter

Chasing debtor payments is critical to survival for most businesses. The fact of the matter is if you have completed work and incurred overheads along the way you should get paid promptly. If you are fed up waiting to get paid for work completed you are not alone. The FSB estimated that 70% of SMEs …

‘Dispute Debt Liability’ Template Letter

Dispute debt liability with this letter. When a supplier or creditor writes and asks for a payment you dispute you should not ignore the letter. By ignoring the request for payment you give it credence. Worse still ignoring a request for payment when you now it is not due can often lead to a County …

‘Considering Striking-Off Company’ Template Letter

Company strike off. When you no longer need a limited company and wish to close it there are a few considerations. If the company has lots of creditor debts then a striking off is not appropriate. If there are creditors each creditor must be written to and they can object to your proposal to Companies …

‘Complain to the Council about their Bailiffs’ Template Letter

Making a council complaint. If you have had a bad experience with a bailiff you won’t be alone. The majority of UK councils outsource all non-domestic (business) and domestic rates arrears to a variety of collection agencies. The majority do act with integrity and there are rules to be complied with. Unfortunately though as with …

‘Bailiff’s Complaint’ Template Letter

Making a bailiff’s complaint need to be carefully thought through before taking action. If your business is visited by a bailiff or a High Court Enforcement Officer to remove goods for the settlement of your debts, make sure you have a good look at The Taking Control of Goods (Fees) Regulations 2014. This will enable …

‘Ceasing Trade’ Template Letter

Ceasing Trade Letter.   When a company ceases to trade this is not the same as closing the limited company. A limited company is a legal entity in its own right so has a legal presence in law. Simply stopping to trade (ceasing to trade) will not close the company. If you think of it …

‘Cancel Company Insurance’ Template Letter:

Cancel company insurance.   Nobody thinks insurance is exciting but it is essential in most businesses today. If you no longer think you need insurance then first be sure there will be no repercussions. Cancelling company insurance can be tricky and the timing is of course very important. So, make sure you always check your …

‘Ask for a Copy of a Personal Guarantee’ Template Letter

Ask for personal guarantee. If a bank is trying to hold you personally liable for a company debt, but you dispute that you ever signed a personal guarantee, this template letter can be sent to your lender or a debt collection agency to request a copy of the guarantee. Remember irrespective of anything you may …

Free Template Business Letters for Common Business Problems

Typing up a business letter can be time consuming drawing you away from what you are good at.   Business Administration and communications As a business owner, you’ll be well aware just how time-sapping the administrative tasks and those annoying little jobs that bear no relation to your business’ core activity can be. The trouble …

How to Create a Proper Small Business Budget

When you opened a small business, did you dream of how to create a budget? What about writing up a business plan or balancing the books, reconciling your balance sheets, and pouring over profit and loss statements? Likely not! Most entrepreneurs are impassioned about an idea, or long for the freedom of being their own …

Commercial Finance Application Checklist

No matter what we might think of the banks, there are times when a little external finance can go a long way. There is a wide array of commercial finance types available that can help businesses buy the assets they need to grow. The ability to capitalise on opportunities as and when they come along …

Selecting an Accountant and Business Name?

How to select an Accountant and your business name Getting started Generally when selecting an accountant there is a lot of confusion as to which accountant you select and what qualifications are needed. Generally if you are starting up you don’t need an accountant by law. There are other good reasons why you should select …

Are You Prepared? Why You Need a Business Continuity Plan

Do you have a plan if the worst happens to your business? What can go wrong? Massive rains flood the region – and your facility. Your equipment is down for a few days, and so are you. Wild winds knocked power out, and you are left in the dark. From tornadoes to computer viruses, natural …

How Much is Bad Advice Costing Your Business?

Is bad professional advice ruining your business and how much is it costing you? When professionals, including accountants, architects or consultants, provide faulty or misguided advice, they have professional indemnity insurance to cover the financial fallout. But what about their clients? What about the business owners who implement shoddy suggestions? Frustratingly, the answer to this …

Do You Really Need a Business Plan?

A business plan is a mere formality if you want to secure funding. Simply another document that you’ll rush to complete, then forget about as it gathers dust. Right?  Forgot your business plan? This is a trap that many small business owners fall into – and, if you’re one of them, you’re doing yourself, and …

Small Business Marketing on a Budget

Why is marketing so important? Marketing strategy Without a solid marketing strategy, which includes advertising, public relations, sales and promotions, you could well have the best product or service – and your customers will never know about it. Consumers are continually bombarded with adverts and messaging; marketing puts your voice out there. Effective marketing helps …

Optimising Your LinkedIn Presence

It may have been difficult to predict LinkedIn’s meteoric rise in 2003. Growth was slow, and on some days, fewer than 20 people signed up. Perhaps they saw it as just another job board, just another place to post a resume that no one would read or just another website trying to cash in on …

4 Tips on Handling Negativity on Your Business Social Media Pages

For businesses, social media offers an effective – and cost effective – way to reach their target audiences. It’s fresh, fun, and now, and it allows you to engage and interact with existing customers, attract new fans and create enthusiastic brand ambassadors. If all goes well. And if you’ve ever used social media, you know …

Funding for Lending Scheme

Funding for lending is getting an extension. The Banks are lending more to small to medium sized businesses across the UK, but from what starting point?    Easy is not a word that entrepreneurs and SME owners expect to have in their vocabulary. Despite all odds, they pursue ideas and turn them into businesses that …

Crowdfunding: Should You Let the ‘Crowd’ Fund Your Business?

Perhaps nothing can so clearly demonstrate the popularity – and success – of crowdfunding like the story of Seedrs. The London-based equity crowdfunding company raised £2,583,420 via its own platform. And perhaps there’s no better advert for the site than its own success! This record-breaking sum, which was secured in a little over a month, …

Crowdfunding: Revolutionising Business Finance?

In 2010, BrewDog, Scotland’s largest independent brewery, “tore up convention.” Rather than cede financial control to banks, the beer makers launched a full-scale crowdfunding scheme. Selling shares online to “people who really care about our beer” – indeed a revolutionary act – its founders have raised millions of pounds to grow their business. But is …

Get Funding For a Startup

Money. It’s the one thing that makes the business world go ‘round. No matter how much passion you have, how many resources sit at your fingertips, or how much experience you have, without the financial backing to get started, you really have nothing to propel your company forward. If you’re new to the world of …