Chasing invoices can be a tricky task, leaving tradespeople unsure of the best way to approach it without risking customer relations. In order to help businesspeople protect their work and finances as much as possible, the insurance experts at Toolbox by Admiral have revealed six of the easiest ways to both prevent and chase unpaid invoices. Many tradespeople are self-employed or run their own business, meaning that they’re responsible for sorting out the finances. Whether tradespeople have an accountant or not, making sure all of their customers pay on time is a task they’ll have to undertake to maintain a healthy cash…
Author: sme-admin
Despite having up to 10 months notice to file their Self Assessment tax return, nearly half (46%) of owners are holding off filing until 2-3 months before the 31st January 2024 deadline. In fact, a quarter (25%) of the millions of small business owners across the country will file in the last month. While a quarter (25%) of small businesses are staying on top of their taxes and filing their return within the first month, one in five (22%) say they have previously missed the deadline resulting in considerable fines. New Intuit QuickBooks research reveals that for the majority (59%), the lead up…
Distil.ai, the business intelligence platform that helps ecommerce businesses to understand customers’ behaviour and boost sales has crunched the Black Friday/Cyber Monday (BFCM) weekend data and can now share its findings for the UK and US markets. The data gives an insight into customer shopping habits, helping sellers navigate the previously murky waters of consumer behaviour. Distil.ai has pooled its data from the BFCM weekend across the USA and UK, analysing data from a sample of 40,000+ online orders to dig into the online shopping habits of the general public, distilling it to understandable outputs that tell some unexpected stories.…
The Supreme Court has recently handed down its decision in a case brought on behalf of Deliveroo riders seeking to recognise the IWGB union under the statutory recognition procedure for collective bargaining purposes. While that particular issue was specific to the Deliveroo case, the Court’s reasoning and decision has broader implications for all business operators involved in flexible labour models. Kate Palka, Lawyer at The Legal Director, explains the impacts of yesterday’s judgment in more detail: Employment status in the gig economy has been under scrutiny for almost as long as the platforms have existedand courts and tribunals have historically…
The pace of technological evolution in 2023 was incredibly fast, leading many to wonder if 2024 will slow down. The adoption of generative artificial intelligence (AI) dominated various sectors this year, and significantly altered how we use technology. With the new year just around the corner, experts are predicting the changes and trends we can expect to see more of, and how businesses can harness these new tools and features to their advantage. Here are just a few of the tech trends that are likely to appear in 2024. Ethical AI Practices As AI spreads into more domains, businesses must…
The Federation of Small Businesses (FSB) has issued a super-complaint to the Financial Conduct Authority (FCA) to highlight the harsh lending practices of banks that excessively demand personal guarantees for business loans. Personal guarantees can be a “straitjacket” on business growth, forcing entrepreneurs to put their homes or other assets on the line when taking out finance. This can be particularly paralysing when they are applied to small loans – leaving many business owners more likely to abandon their business or growth plans or push them into being over-cautious in their decision-making, deterred from making bold choices. FSB is therefore…
The founder of leading holiday camp provider, Academic Camp, has written a free magazine aimed at parents who are looking for opportunities to improve the educational and pastoral experiences of their children outside of their own school and home environments. The magazine, Reach for Your Future, has been written by Academic Camp founder Helen Lami in response to an increasing demand from parents to widen the experiences of their children and to look outside of their own school provision or the family holiday to provide these. This came alongside a need to show in greater detail what high-quality school holiday camps can look…
A recent HMRC-issued report found that 16.7% of all R&D tax claims were wrong or fraudulent, resulting in an estimated £1.3bn of error and fraud. While there is some concern within the industry on how this data has been compiled – and a growing belief that some genuine claims are being challenged and denied – the fact remains that HMRC is determined to crack down on false claims.. Despite moves to simplify the application process announced at the recent Autumn Statement, the application process for R&D tax credits remains complex. Changes to the scheme, including the introduction of an “Additional Information…
Jeannette Linfoot, founder of Jeannette Linfoot Associates, shares valuable insights with SMEToday’s readers on the crucial role of accountability in business. Going beyond the conventional approach of task delegation and deadlines, accountability in business revolves around enforcing a shared commitment. This involves outlining the company’s mission, values, and goals to establish a unified expectation, ensuring individuals are held responsible for their contributions. A vital component to business success, accountability involves taking responsibility for your actions and being willing to answer for their good and bad outcomes – something many businesses still struggle with. According to author and transformational leader,…
With the year coming to a close, many businesses are planning for the future and mapping out their pathway to success. To encourage Oxfordshire organisations to dream big and unlock their business superpowers, OxLEP Business has launched a new campaign. The ‘OxLEP Business Super League’ aims to raise awareness of the superhero support that OxLEP can offer local organisations – of all sizes and sectors – to set them on the journey to business success. This support starts with the Business Support Tool – the secret weapon in becoming a business superhero. By completing the 6-minute supercharged tool, SMEs can…