top ten tips

Top Ten Tips to Avoid Late Payment

A proactive approach to credit management is key to establishing good relationships and ensuring viable credit terms, which can then help small and medium-sized enterprises (SMEs) punch above their weight, says ACCA (the Association of Chartered Certified Accountants) and Kingston Smith LLP today. This advice, coupled with ten top tips for SMEs to cope with credit, comes after publication of the Independent Commission on Banking’s interim report on banking reforms last week. While ACCA does not believe that the Commission’s interim report will bring about any dramatic changes for SMEs in the UK when it comes to accessing finance, it does believe that practical guidance is needed for SMEs on what they can and should do to cope with money issues. This practical advice has been compiled... »

Climate-conscious firms apply for Funding

Climate-conscious firms apply for Funding

Environmentally friendly small firms are being urged to put themselves forward for the opportunity to win a financial boost of up to £40,000 courtesy of Shell. Applicants to the Shell Springboard fund are required to demonstrate that their product or service can help combat climate change, and is innovative and commercially viable enough to be worthy of a grant of between £20,000 and £40,000. Judges are looking for businesses with ideas with the potential to break new ground while using sound financial planning and market understanding. Shell is offering a maximum of six awards to businesses in each of three regions — Scotland and Northern Ireland, northern and central England, and Wales and southern England. Regional winners will be selected in February 2009. Six w... »

Top Ten Tips to Survive the Credit Squeeze

Whilst the global credit crunch affects the UK’s Small Businesses there are things that you can do to try and weather the financial storm. Clive Lewis, Head of SME Issues at the Institute of Chartered Accountants in England and Wales (ICAEW) presents his top ten tips to survive the credit squeeze. Put cashflow and financing on the agenda for every management meeting. Regularly update cashflow forecasts. If there is a conflict between profitability and cashflow take the cashflow option. If you have a term loan or overdraft be aware of any covenants and constantly monitor how close you are to breeching them Prepare thoroughly if a review is coming up on any of your financing facilities If limits might be threatened "think the unthinkable" regarding the sale of assets. Talk to... »