Blue Dot Blog

I can’t have the business I want…….because of the business I’ve got!

Business confidence supports growthI can’t have the business I want…….because of the business I’ve got!

This was the odd but striking conclusion of a meeting with the MD of a ten year old business who was looking for help with the financial management of his company.

We were looking at an analysis of revenue by client and he was describing the work done for the larger clients, the time taken to do it and the level of fees charged.

Then we compared these clients against the characteristics of the “ideal” clients he was looking for.

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Use the election to make a difference to your business

The UK general election is less than two months away and is predicted to be not only too close to call but likely to return more MPs from more parties than the country knows what to do with.

With votes at a premium why not turn this election into an opportunity?

Smaller businesses are vital to the economy, vital to continued growth and it is in everyone’s interests that they are encouraged to flourish. However, lacking the clout that larger businesses have and being more disparate it is difficult to speak with one powerful voice and easy for a deaf ear to be turned towards the many sensible but less-influential voices that are raised.

So why not ask for, say, five things to be done by a new government to help smaller businesses. They may be:

  1. encouraging prompt payment of invoices (I think legislation may not be practical)
  2. increasing the proportion of public sector contracts that are serviced by smaller businesses
  3. cutting the red tape that applies to smaller businesses
  4. improving access to funding
  5. increasing access to skills and learning for entrepreneurs

Let’s say there are five million smaller businesses in the UK, as @tonyrobinsonobe says. That is way more than five million votes and the forthcoming election will be decided by fewer votes than the small business community can muster.

So, when you know who is standing in your constituency – go and lobby them. Hold their feet to the fire and get them to tell you what their party is going to do to help smaller businesses. How will they make a difference to the five points above?

And if you’re not satisfied by the answers, ask them why they might expect you and every other owner, employee, supplier or customer of a small business to vote for them or their party?

In election that is too close to call, the smaller business constituency has a real voice. And less than two months to use it.

 

Michael
@diaryofanomb

 

Outsourced accounting – the way of the world

Outsourced accountingOutsourced accounting has been with us for many years, at all levels from the freelance bookkeeper to the interim Finance Director.

No change there, but technology is making outsourced accounting much easier to buy and to deliver.

All of which has to be good for businesses of all shapes and sizes

There are two big drivers for this change.

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Boost your profits in 2015

Six weeks until the end of 2014, not a bad time to be thinking about boosting your profits in 2015.

These links may help:

Profit is your first cost: Treat your 2015 profit as the first cost of the year. Weird but very helpful.

Proof of profit: Are you making the profit margin you should from each sale you make?

Go paper-free: Cut out costs and clutter and use expensive office space for people and profit, not paper. Here is how we did it, you can too.

 

And finally, if it is not yet finished, let alone not yet started, your tax return has to be submitted and the tax paid by January 31, 2015.

 

Best wishes for better profits in 2015!

 

Michael
@diaryofanomb

Accountants in Richmond – with a difference

Accountants in RichmondThere are many accountants in Richmond but we opened our doors there to offer a different choice to the businesses in and around the area.

The Blue Dot difference is that our people have all worked in financial positions in businesses of all shapes and sizes. We haven’t spent all our time working for accountancy firms and this gives us an insight that is highly relevant to our clients.

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The paper-free accountant

Go paper-freeThe paper-free accountant can now exist because online services have fundamentally changed the landscape of how businesses can interact with their accountants. This change is set to continue.

There are several technologies that allow this to happen. Unfortunately, accounting software suppliers, accountants and other commentators tend to lump them together and suggest you can’t have one without another.

That is not true, so let us unbundle them and see how you can build a mix – and – match solution that is right for your business and let you choose a paper-free accountant.

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