Archives for finances

Why You Should Be Charging Late Fees

Managing a steady cashflow is never easy. With so many business attributes in abundance – it’s essential to have some sort of leverage to ensure your business gets paid. … and to deter would be non-payers. Here are 5 key reasons why the Late Payment of Commercial Debts and Interest Act 1998 (UK only) – ( The Act ) are crucial in getting your business debts paid. … and when and how you should use it. 1) Working Capital Many business owners think that generating Sales is enough to promote the overturn in your Balance Sheet credentials. However, by introducing
Read More

Through The Looking Glass: When Debt Breeds Fear

Sitting in between my Clients; ‘Mrs’ on the left and ‘Mr’ on the right. Whilst talking, every so often ‘Mr’ would look over his shoulder, past the Mercedes on his driveway and out into the street. The same pattern would continue throughout through the meeting. Eventually I couldn’t help but agitatedly ask – “Why do you keep on doing that?” It turns out, it was all off the back of the advice I had given him days earlier. Here was a husband and wife team, with a substantive amount of business debts that had built up. If they were a
Read More

Wow, what do you mean you’ve gone bust?

Wow Air, Primera Air, Flybe, XL….. What do the above have in common? Well, they’re budget airline carriers who operate in a no-frills capacity. It’s estimated that around 30% of airlines who start to operate go bust within the first two to three years of trading. But why? Simply because of high operating costs, broken down primarily with large fuel costs and high end operating leases, wage bills leaving many of these airlines scraping the barrel of their overdraft. This article from the Independent showcases that if we, as consumers, aren’t careful, we too could get stuck in the middle
Read More