Technically, we should be out of a recession based on figures published this month. However, with the Bank of England currently holding the base at its current level, the ripple effect paints a painful picture.
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Archives for business tips
Empowering SMEs Amidst Financial Turmoil: Insights from Novuna Business Cash Flow
Are you feeling the weight of financial uncertainty on your small or medium-sized business (SME)? If so, you're not alone. Recent findings from the Novuna Business Cash Flow survey reveal a startling reality: 34% of SMEs are teetering on the brink of closure due to a lack of funding. It's a stark reminder of our challenges in today's economic landscape.
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Embracing Discomfort: The Path to Personal and Professional Growth
How often do you find yourself in transit, whether on a bus or a train, during a downpour, feeling fortunate to be sheltered from the elements? But let's pause and reconsider—are we truly fortunate?
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Boosting Financial Health: The Case for Charging Interest on Late Payments
Maintaining a healthy cash flow is crucial for business success, making the timely settlement of invoices a top priority. Late payments, unfortunately, are a common challenge that can disrupt operations. This blog explores the benefits of charging interest on overdue payments and how it can contribute to a business's financial well-being.
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Overcoming Year-End Financial Strain: A Debt Recovery Specialist’s Guide
As December and January bring unique financial challenges for businesses, a debt restructuring specialist, such as Ron, can be a vital resource in navigating this period of uncertainty. Year-end obligations, holiday expenses, and delayed client payments converge to strain cash flow significantly. In this blog, we explore how businesses can overcome these challenges with the support of a structured process.
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Navigating Consumer Duty: Essential Guidelines for Businesses
Following on from my blog in May regarding Consumer Duty, today we will explore what this entails for businesses, highlight key preparation steps, and provide insightful questions to consider as they adapt to this transformative regulatory framework.
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Navigating the BoE’s 14th Consecutive Rate Increase
The recent move by the Bank of England (BoE) to implement its 14th consecutive interest rate increase, raising rates to 5.25%, has set in motion a series of changes that extend beyond the surface-level market dynamics. As a Debt Recovery Specialist, I want to show how this decision can significantly influence businesses and their strategic financial planning. Let’s delve into the profound implications this rate adjustment holds for various aspects of our economic landscape. Borrowing Costs: The BoE’s decision to raise interest rates directly impacts borrowing costs, creating a ripple effect throughout the business world. This development is significant for
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Terms and Conditions: Safeguarding Success
Small business owners often overlook the importance of terms and conditions, considering them unnecessary or only relevant to large corporations. However, the reality is quite the opposite. Terms and conditions are critical for every business, regardless of size, as they are a protective shield and a legal framework that fosters smooth transactions and customer satisfaction
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Streamlining Director Obligations: The Director Information Hub
The UK government's Director Information Hub is a valuable resource for company directors. It simplifies the management of directorial obligations, providing a centralised platform for information and tools.
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The BNPL Market: Balancing Regulation and Innovation in the UK
The Buy Now, Pay Later (BNPL) sector has experienced rapid growth and popularity, revolutionising how consumers purchase. However, recent news from Sky News suggests that the UK Treasury might shelve plans for regulatory measures on the BNPL market. This decision has ignited discussions on the potential impact of regulation and its significance for the future of the BNPL sector in the UK.
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