With so much information around it is sometimes difficult to keep track or to syphon out what might be useful. So, it is with this in mind that I thought I would share this link to a summary of discussions on linkedin about why businesses might fail. Forewarned is forearmed!
Archive for the ‘The Economy’ Category
Taking control before the worst happens
Friday, August 13th, 2010Expenses
Sunday, May 17th, 2009I don’t think there is a single person in the UK that doesn’t have a view on the MPs expenses scandal that is being exposed day by day.
As an accountant I have drawn up expense policies for several companies and, if I had drawn up one with as many loopholes as this one appears to have, I would be embarrassed to my core.
In every situation where I have drawn up an expense policy, in conjunction with the HR Manager, it has always been the case that claiming ineligible expenses would lead to disciplinary procedures and potentially dismissal.
Anyone who misdeclares tax, or perpetrates fraud against an employer, can expect to face prosecution and potentially jail.
I simply dont understand how they have got in this mess and expect that ’sorry’ is going to be enough to get them out of it. MPs are our employees and they should expect to behave and be treated as such.
Thought for April – cash or profit
Monday, May 11th, 2009Profitability is key for long term survival but, if any cashflow issues or opportunities aren’t identified and dealt with, a business may never get past the short term. Not all items that impact cashflow can be totally controlled but many can and should be.
You can’t depend on the weather to provide rain when required to get a good crop of vegetables – sometimes you have take control and water them yourself.
Don’t assume cash will take care of itself either – plan to take control, and even implement improvements that will provide long term benefits.
Links to free financial advise on cashflow management and the economic climate
Wednesday, May 6th, 2009‘Small businesses need all the help they can get at the moment and, if you can face trawling through all the available information, much of what is available is free. a-count-a-bility fundamentally believes in providing small businesses with the expert support they need (from a financial point of view). Clearly we need to make a living but if we can provide some quick guidance that saves small business owners having to pay us then that is fine too. So, here are two useful links that recently made it to my email and that I am happy to share:
http://www.creditmanagement.org.uk/berrguides.htm which focus on cashflow managements and
http://www.fsb.org.uk/default.aspx?id=7&loc=se which has some other thoughts relevant to the current economic climate.’
Responding to the changing environment
Monday, February 23rd, 2009Here is the text of the Thought for the Month that I have circulated in February including the usual tenuous gardening link. I like to think that linking the world of business to the my very mundane view of gardening helps make it all seem less scary and more like something that we should all be thinking about and even understanding.
The new economic environment means businesses may need to change the way they operate. Products previously considered as peripheral may now be key and indeed new products might need to be added to the mix. Pricing should then be reviewed to ensure that profitability is going to be maintained, and different marketing campaigns may need to be evaluated.
During the snow planting seeds was not an option but plenty of children (and adults rediscovering their childhood) built snowmen. This option has now disappeared and the snowdrops are starting to appear – nature taking it’s opportunities too.
The person that identifies the options in the new climate may not be the same as the person who is best placed to evaluate the results this might deliver.
Send me a mail and let me know if you think this is a useful thought and/or useful way of presenting it.
