UK Chancellor's Autumn Statement 2023: Key Takeaways for Small Business Owners
The UK Chancellor's Autumn Statement for 2023 brought a mix of tax reforms, business incentives, and regulatory changes that will impact small business owners across the UK. Here’s a look at what these changes mean for your business.
Personal and Employment Taxes:
A 2% cut in Class 1 employees’ National Insurance contributions from January 2024, reducing the rate to 10%. For example, individuals earning £35,000 annually will save £450.
Abolishment of Class 2 National Insurance for self-employed ind…
Why Bookkeepers Need a Mix of Clients for a Thriving Business
I've been having a few conversations this week with bookkeepers about larger clients leaving for a number of reasons. As a bookkeeper, juggling a variety of clients is key to your business's success and growth. In my business, I always found it important that no single client made up more than 10% of my turnover. I want to look at some of the reasons I think that's really important
Sharing the Risk
A mix of clients helps to spread risk, making sure your business isn't too dependent on any o…
Attracting the Right Clients: How to Identify and Target Your Ideal Clients as a Bookkeeper (while avoiding the nightmare ones!)
20 Ways to Win Back Your Motivation
Here are twenty ideas to win back your motivation and fall in love with your work all over again.
Recognise that Goals and Paths are Two Different Things
You’ve been focusing on your goal but not really getting closer. Your business is much too busy, and you feel like you’re expending all your energy on clients.
If this is happening to you, you’ve likely wandered off the path towards your goal. Re-evaluate your path: Is it moving you forward? Are you letting yourself get caught on tangents?…
Is Imitation Flattery?
Oscar Wilde said, "Imitation is the sincerest form of flattery that mediocrity can pay to greatness."
Whenever you do something different from others, people will start to take notice of you. It's inevitable. They may think that they can do what you do. They may even try their hand at it.
Should you be worried?
As bookkeepers, we are in a profession that, whether we like it or not, has a really low barrier to entry. There's not a huge amount of investment involved in setting up a practice…
Are you REALLY listening
Four in a Bed is probably one of my favourite programmes right now. Anything with Alex Polizzi and Mary Portas are really great too. I love shows that show the human side of business, and that anyone can do it.
One thing that really frustrates me, though, is when something simple is suggested and met with the response "No one's ever complained about that before!" I could scream at the TV.
Most of us don't really like confrontation. We generally don't complain when we get poor service. W…
4 Tips for Making Resolutions That Matter
Making a resolution is one thing, keeping it another completely.
In this article, I want to share four tips to help you reach your goals and to reward yourself for a job well done.
Recently, we've all hung up the new calendar and it's a great excuse to make personal and business resolutions for the coming year.
It is also a way to bring about certain frustration if the goals that you set for yourself are unreachable, unattainable or just something you have no interest in doing.
Mistakes Can Happen
Let's just get that header out of the way first. We can try as hard as possible to minimise them, but mistakes can and do happen. We're human. It's inevitable.
So, what should you do if a mistake happens in your business? The first thing is not to panic. Most people will forgive a mistake if you handle the follow-up properly. In the main, it's not the mistake that is the big headache, it's the lack of proper communication.
When you're growing a business you're taking risks. Mistakes w…
An open letter to IAB
For the longest time, I’ve recommended IAB as the professional body of choice for any new bookkeeper starting out. When people were left in limbo during the new member freeze, I was the first to fight their corner, but now I fear they’ve lost their way.
We are only looking for a few things from our professional bodies, but we want them done well.
Certification. To know that new entrants to the profession and old hands alike are at the pinnacle of their game. We want the confidence when we s…
How far have you come?
Sometimes we can only truly understand the progress we've made and how far we've come when we are able to take a glimpse at the past.
Today's post is a bit personal for me. It's a bit of a walk down memory lane and it's sparked a few emotions.
Tonight, I was doing just that courtesy of the WayBack machine, an archive of web pages. I was looking at the site for my very first business I started when I was 20, 17 years ago. It was a web design business and it really started memories flooding…