When small businesses support their local communities, it's a win-win for everyone. The business gets good publicity and builds goodwill, while the community benefits from the support. And as a business owner, it's really in your best interests to have a strong, healthy community around you.

As a small business owner, you've undoubtedly experienced the trials and tribulations that late payments can cause. They can lead to sleepless nights, not just because they disrupt your cash flow but because they can prevent you from covering operational expenses and investing in business growth. In this guide, we explore effective strategies to manage late payments and keep your small business financially healthy.

Summer is a season that beckons us outdoors, with its warm sunshine, leisurely days, and vibrant activities. However, for business owners and entrepreneurs, the summer months can also bring a heavier workload and added stress. That is where efficient bookkeeping comes in, offering a valuable solution that not only keeps your finances in order but also frees up precious time, allowing you to soak up the sun and fully enjoy the season.

Starting and running a small business is no easy task. It takes a lot of hard work, dedication, and tenacity to make it successful. And even then, there are no guarantees.

That's why it's so important to make your small business as strong and sustainable as possible. Here are eight key tips to help you do just that.

Balancing the financial health of a business often feels like a tightrope walk between cost-cutting and value creation.

On the one hand, reducing expenses can lead to immediate financial relief and improved profitability. On the other hand, investing in value-creating activities has the potential to drive long-term growth and sustainability.

Striking the right balance is essential for business success, but it requires a nuanced understanding of these two strategies.

When you are planning to launch your exciting new business venture, the chances are that financial functions such as forecasting, reporting and submitting tax returns aren't at the forefront of your thoughts.

However, as your business grows, these essential but time-consuming tasks will require attention.

One solution is to outsource your financial functions to a professional accounting firm. This can free up your time to focus on the aspects of your business that you're passionate about, while still ensuring that your finances are in good hands.

In this blog, we will explore seven compelling reasons why small businesses choose to outsource their financial functions.

Your business credit score is a reflection of your company’s financial health and reputation. Unfortunately, there are many misconceptions about business credit scores that cause confusion for small business owners and leave them afraid to take the steps they need to build a better score. Here we debunk five common myths about business credit scores so small business owners can feel confident in taking the steps to build a better score for their business.

Managing cash flow is crucial for the success of your business. Getting paid on time is a key factor in maintaining healthy finances. We often imagine this is all about chasing payments or even going to court, but the truth is that if we can put systems in place earlier in the process, these tactics become less important. Good credit control starts before we even make a sale.

The United Kingdom has been making significant strides towards digitalisation in various sectors, and tax reporting is no exception. The government's ongoing initiative, Making Tax Digital (MTD), has been transforming the way businesses, including small and medium-sized enterprises (SMEs), manage their tax affairs.

In this blog post, we will delve into the world of digital tax reporting, exploring the impact of MTD on SMEs and discussing the benefits and challenges that come with embracing this change.

As a small business owner, the start of a new financial year is an excellent opportunity to take stock of your business's financial health and prepare for the year ahead. By getting your accounts in order at the beginning of the financial year, you'll be better equipped to make informed decisions, set realistic financial goals, and ensure that you're meeting your tax obligations.

In this blog post, we'll share some tips and hints to help you get your accounts in order and start the new financial year right.