Author Archive Joshua Leigh & Co

Hospitality aims to bounce back with bumper trade for Platinum Jubilee

Everyone loves a party, and one of the biggest will be celebrating the Queen’s Platinum Jubilee at the start of June.

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Loans to small businesses drop to lowest level on record

Banks have been accused of “pulling up the drawbridge” on lending to small businesses.

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How can cloud accounting reduce business costs?

Businesses across the UK are feeling the squeeze of increasing energy bills and raw materials, especially as the inflation rate recently hit 9 per cent.

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Big hitters to join key conference on the hospitality sector

The future of the hospitality industry will be in the spotlight next month when politicians and the movers and shakers in the industry come together for a key conference.

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Thousands more taxpayers filing Self Assessment returns early

An increasing number of people are filing their Self Assessment tax returns early.

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New initiative helps to make the most of the pavement cafe culture

The move by the Government to make pavement licences permanent presents an opportunity for the hard-pressed hospitality industry.

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Enterprise investment rebounds strongly after being hit by pandemic

There has been a fall in investment of around 12 per cent in the Enterprise Investment Scheme (EIS), largely caused by the effects of the pandemic.

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Every business has goals, but how can you achieve them?

Without being motivated by business goals, it could be easy for the business to become stagnant.

However, simply outlining business goals is not going to instantly ensure the success of your business – it is essential to have a strategy in place.

For this reason, we have outlined our top tips for staying on track to meet your goals.

Define your aspirations

The initial step in your strategy should be to make sure your goals are measurable and realistic.

To do this you must consider the stage that your business is currently at, compared with where you would like it to be.

For example, if you aspire to increase profit levels, you will need to keep track of data relating to your business’ income (such as the current price per unit, the total number of sales and cost per unit).

Whilst having large dreams is encouraged, as a business owner, it is important to be realistic when setting out a timeline to achieve these goals.

Review the business’ procedures

The business should be able to adapt to the changes that come with achieving its goals, which means that it is necessary to review business procedures.

One consideration is that as a business grows, the workload is set to become more demanding, which could result in unmanageable amounts for employees.

Therefore, it may be worth considering the capacity to hire more people or invest in the necessary software to automate more tasks.

Keep thorough records

Whilst your business should keep up to date records of all bookkeeping affairs, there should also be notes for others to follow should a member of staff, or yourself be unexpectedly absent.

Especially for business owners who bare a lot of daily responsibilities, other people in the team should be made aware of these so the business can function without you.

The records should information on day-to-day tasks as well as notes on procedures, assets, client lists, and all systems used.

Need advice on outlining your business strategy? Contact our experts today.

Charging an electric company car: what you need to know

With the important focus on achieving Net Zero goals and targeting personal emissions, more and more company cars seem to be following the electric car trend.

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Parents missing out on Tax-Free childcare allowance encouraged to claim

Many parents have been missing out on Tax-Free Childcare, after it was revealed that one in five parents did not know they met the eligibility criteria.

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