How to reduce car insurance costs on renewal

Published: August 10th, 2011 | Categories: Insurance Advise | 0 Comments

Renewing your car insurance is a task that you will have to take time to complete one a year. Many people only remember the time has come when they receive a reminder from their insurer. The internet has benefited people looking for car insurance immensely as online quotations are available and rates and cover can be easily compared. One of the strange things is that car insurers often seem more interested in capturing new business rather than looking after policy holders already on their books.

Silent and invisible

If you feel that this is how your insurer views you as its customer, it is a good idea to do something about it. One of the main details you need to make sure that is applied to your offer of renewal is your no claims bonus discount. Read all post…

Starting up a franchise business – An overview

Published: July 27th, 2011 | Categories: Insurance Quotes | 0 Comments

There are currently over 800 different businesses operating as franchises across the UK. Some of the more instantly recognisable brand names that offer franchise opportunities in the UK are Domino’s Pizza, McDonalds and Subway.

While some of the less well-known brands include Auditel, Business Doctors and Tax Assist Accountants, which all operate franchises in the business to business field.

Franchising, or “business format franchising” is the popular term used to describe the granting of a licence by one party (the franchisor) to another (the franchisee) which allows the franchisee to set up in business using the trade name and using the trademarks of the franchisor.

Typically, the franchisor will licence the trademarks and proven methods of its business operation to the franchisee for an initial set up fee and a cut of future sales or profits.

Franchise Facts & Figures

Statistics show that there are over 800 active franchises in the UK, employing an estimated 465,000 people. The

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Large businesses are still paying late, but a little less late!

Published: July 26th, 2011 | Categories: Insurance Quotes | 0 Comments

Many small businesses that have large companies as customers, know from bitter experience that they are often guilty of paying their bills late.

So small firms will draw a little comfort from the fact that the latest research reveals large businesses are now paying their bills a little less late.

The figures are drawn from the latest Late Payment Index from Experian, which shows large businesses (over 500 employees) paid their bills 33 days late in the second quarter of this year, compared to 34 days late in the first quarter.

It’s obviously a relief to see that large companies are paying their bills a little quicker, or certainly less slowly, but they must continue to reduce the degree of late payment over coming quarters too.

Smallest firms are the promptest payers

The Late Payment Index also highlights how the smallest companies are the promptest payers, with businesses with 1 or 2 employees currently paying their bills 20 days late.

Commenting on the new figures, Jason Mills, Head of Payment Performance at Experian UK & Ireland, said: “It is encouraging to see that for many firms, regardless of size, late payments did not slide further in Q2 2011.

Late payment increases in North West

When the figures are broken down geographically, an alarmingly large increase in late payments in the North West is revealed. The

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The secrets of getting a business bank loan

Published: July 23rd, 2011 | Categories: Insurance Quotes | 0 Comments

Borrowing money from a bank to finance your business is a lot harder than getting a loan to buy a new car or to improve your home.

Banks have a number of tough rules that you need to know before you approach them for a loan, and these rules have become even more stringent as a result of the credit crunch.

Here are some of the things small business owners should bear in mind in order to secure a successful business bank loan:

Be clear what you are going to use the money for

You need to be able to demonstrate clear direction for your business, and exactly how the bank loan will fit in. That means a watertight business plan. Show how every single penny will be spent and what the expected returns are.

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HMRC seek to limit taxpayers’ ability to recover trading losses

Published: July 23rd, 2011 | Categories: Insurance Quotes | 0 Comments

Under current tax rules, UK taxpayers can offset a trade loss against income on their self-assessment tax returns. However, HM Revenue & Customs is seeking to limit this automatic ability to offset trading losses against income tax to a maximum amount of £25,000, with larger claims requiring prior agreement from HMRC.

At present, taxpayers who make a trade loss can include the loss when calculating their income for the same tax year, the previous year, or both tax years. This allows taxpayers to reduce their tax liability and also to improve their cashflow.

But under new proposals, HMRC is looking to limit the ability to offset trading losses on self-assessment returns to a maximum of £25,000 in any tax year. T

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Why you need a cash flow forecast and how to do one

Published: July 19th, 2011 | Categories: Insurance Quotes | 0 Comments

One of the most useful bits of advice that established entrepreneurs give to people starting their own business is this: ‘cash is king’.

It doesn’t matter what business you’re in and how profitable it is, if you run out of cash, your business will struggle to continue. If you can’t pay suppliers you’ll have nothing to sell, and it’s a quick, vicious circle from there to insolvency.

A good business needs a positive cash flow, where the amount of money coming in to the bank account each month at least matches the amount of money going out.

This is something that needs to be monitored at every stage of business growth. Obviously if Read all post…