We have developed a quick list of things that we suggest taking on board when it comes to making your next big decision! From gaining experience from more senior employees to using your team in the process.

• Experience in different roles: Having experience in a range of different roles that require organization and management means that your exposure is broadened. In turn, this means that your knowledge and understanding improves in order to make informed decisions.
• Learning from others: If you have the opportunity to pick the brains and learn from senior leaders that can give you insight into decision making then take it! There’s no better way of learning than learning from others.
• Shadow others: As well as asking questions when they pop into your head, physically shadowing people in different roles is a great way to learn. Understanding different roles means that you’ll be more informed when making decisions that impact others.
• Take on complex projects: Although they may seem daunting, projects that require a complex level of decision making are a valuable way of developing the skill.
• Learning: When you learn, either formally or informally, you’re building on your decision-making skills. The more knowledge you have the easier you’ll find it to make decisions.
• Space: Once you’ve made a choice, give yourself some distance from the situation before formally confirming your decision. Emotion can play a huge part in how we make decisions and it shouldn’t be the reason you’re making choices. Resist the rush to decide immediately and step back to look at the problem objectively.
• Use your colleagues: Each member of your team has a unique set of skills and knowledge, they all bring something different to the company and they’re there for you to use. If you need input then ask them as many questions as you need to, even if you can’t tell them about the problem you’re facing. Gaining perspective underpinned by knowledge and skills is an asset you need to start using.
• Find people who aren’t there to please you 24/7: Involve people who aren’t scared to disagree with you in your decisions. Maybe there’s a member of the team who shares their opinions and thoughts with you openly. These are the people who should be on board with the process. It allows you to see the issue from a different perspective and think outside of the box too.
• Think about the worst-case scenario: When you make any decision it’s important that you consider the worst case scenario and what you can do to soften the blow if it arises.
• Think past your gut instinct – Evidence-Based Management (EBM) uses scientific evidence in the process of decision making. Most of us use personal judgement and how we think we should manage a situation when we make choices. Consider performance data, objective evidence, business strategies and whether your evidence is relevant and current.
• Sharpen your eye for risk: Ask around for information if you think there are risks, look at past data and reviews.
• Learn from previous decisions: Keep a log of all of the decisions you’ve made. Its great practice to look back on them and see the thought processes behind them. Look for any faults that you can improve on and also for things that went well.

Hopefully, this was useful in your journey to becoming a more successful decision maker at work. As accountants we often see companies make huge decisions and we’re a key part of that process. For business support, you can get in touch with us!

The post How Leaders Can Make Better Business Decisions appeared first on ABC Accounting Services.

There are plenty of challenges to face out there but why are there? What possible justification is there for these obstacles?

1) Women sometimes get pregnant

There are businesswomen who have been asked by clients if they are intending to have children. This seems to be a deal breaker. But why? Women can take weeks off for pregnancy these days and opt for their partner to raise the child. Is society still hung up on the fact that the woman’s place is in the home with the new-born? – Surely not! Men and women are capable of the same bonds with their children and guilt over taking the supporting role should have died alongside the ridiculous notion that women and men have exclusive roles to play in society.

2) It is the norm!

This is the way it has always been. There are more men in business so they always have the majority and it is a male viewpoint and perspective that drives the majority of decisions. It is habit to promote a man, pay men more, and hep men develop their careers. This learnt behaviour is changing but it isn’t a fast change. The world has to get used to new rules and embrace equality at all levels of management. As younger/newer generations work their way to the top these changes should begin to gather momentum.

3) Religion

It is a quiet force but there nonetheless. In some religious circles women are a classed as the secondary citizen. These views will not change but their reach is fading. These views tend to be limited to the more devout and sometimes zealot faiths but there is no questioning the fact that they can factor in mainstream business affairs. Thousands of years after their origins women are still battling the words of ancient texts and trying to establish equality.

4) Women are ruthless when in positions of power!

I have read this a couple of times – the idea that women become intimidating power hungry assassins when they are promoted into positions of power. Oh please! Why are successful women labelled intimidating man-eaters when all they have achieved is exactly what their male counterparts have. At the end of the day nobody would turn to Alan Sugar and Rupert Murdock and call them sissies! I rest my case – lay off strong independent women.

There is a long way still to go for women to achieve equal pay, equal standing and begin to feel like they are battling for careers on an equal playing field – but at the same time we have made serious progress in the last 20 years. Women do not need special skills or enhanced powers to gain success. They just need to follow the same formula that every businessman/woman follows. They need to possess:

Self-belief: Because everyone with an ambition or dream has to believe in themselves before anyone else will.

Ambition: Because no business is stagnant, they are always reaching further and striving for greater success or more challenging targets. That is what keeps them fresh and competitive.

Confidence: You need to know how to hold yourself and believe that you are worthy of your ambitions. You are no less than anyone else as you enter a room – you are an equal so hold eye contact, shake hands firmly and keep your head up.

Passion: You will not get anywhere unless you have fire and passion to drive you through tough times and continue to drive you through successful ones.

Humility: Part of this is accepting that you will not always know everything and that you must keep training to stay sharp and innovative. You must always remember where you came from and make time for people who support you on your way.

Sense of purpose: Just having blind ambition and passion will not get you where you need to go so a sense of purpose is essential. You must map out your path and stick to your rules and guidelines – stay true to who you are and what you represent.

Assertiveness: Make sure you get your message and your product/service across to the right audience. Be strong and assertive when you need to be.

Hard work: This is a given. You will have to work damn hard to achieve your goals and the business will become your life but nobody got anything by sitting on the sofa!

Bravery: Commit to risks and follow through with your gut instincts. You need to be strong enough to take calculated chances because again you do not get anything by playing it safe.

Persistence: People often forget this but it really is the fuel of any business. You have to keep working and keep putting all that you have into your goals otherwise they will wilt. Never ever give up! Be practical and realistic with your expectations but if the financials weigh up and you have done your research then your dreams are there for the taking.

So there you go. Whether you are a man or a woman you know what you have to do. And if you are a woman then just follow your heart and do not stand for any derogatory remarks. We have proven we can do it and we keep on proving it – one day we will stand side by side with our male counterparts and you will have been part of that change – part of that future!

The post The Business Woman Must Stomp Harder appeared first on ABC Accounting Services.

What is it?

HMRC have special IR35 rules which are designed to prevent the avoidance of tax and national insurance contributions through the use of personal service companies and partnerships.

Note, individuals can still operate through either their own personal companies or a partnership, but IR35 seeks to remove any possible tax advantages from doing so.

Removal of tax advantages

The tax advantages mainly arise by extracting the net taxable profits of the company by way of dividend. This avoids any national insurance contributions which would have been due if that profit had been extracted by way of a salary or bonus.

The intention of the IR35 rules is to tax most of the income of the company as if it were salary of the person doing the work.

To whom does it apply?

The rules apply if; had the individual sold their services directly rather than through a company or partnership they would have been classed by HMRC as employed rather than self-employed.

1. An individual operating through a personal service company, but with only one customer for whom they work full time is likely to be caught by the rules. On the other hand an individual providing similar services to many customers is far less likely to be affected.

Planning consequences

The main points to consider if you are caught by the IR35 rules are

• The income of your company will be charged to income tax and national insurance at personal tax rates rather than company tax rates
• Consequently there may be little difference to your net income whether you operate as a company or as an individual
• If you have a choice in the matter would you want to continue to operate through a limited company
• If the client requires you to continue as a limited company can you negotiate with the client for an increase in fees to cover the extra tax and national insurance due

Employment V self-employment

One of the major issues under the rules is to establish whether particular relationships or contracts are caught by the IR35 legislation. This is because the dividing line between employment and self-employment has always been a fine one.

All of the factors will be considered, but overall it is the intention and reality of the relationship that matters.

The following factors are relevant to the decision. HMRC will consider the following to decide whether a contract is caught under the IR35 rules

• Mutuality of obligation

The customer will offer work and the worker accept it as an on-going understanding

• Control

The customer has control over tasks undertaken and hours worked

• Equipment

The customer provides all of the necessary equipment

• Substitution

The individual can do the job or send a substitute

• Financial Risk

The company bears the financial risk

• Basis of payment

The company is paid a fixed sum for a particular job

• Benefits

The individual is entitled to sick pay, holiday pay, expenses etc.

• Intention

The customer and the worker have agreed there is no intention of an employment relationship

• Personal factors

The individual works for a number of different customers and the company obtains new work in a business-like way

Exceptions to the rules

If a company has employees who have 5% or less of the shares in their employer company the rules do not apply to the income that those employees generate for the company.

Note, in establishing whether the 5% test is met any shares held by family members or associates must be included.

How the rules operate

The company operates Pay as You Earn (PAYE) and national insurance on actual payments of salary to the individual during the year in the normal way.

If on 5^th April the individual salary from the salary included benefits in kind amounts to less than the company income from all of the contracts to which IR35 applies the difference net of allowable expenses is deemed to have been paid to the individual as salary on 5^th April and PAYE & NIC’s are due to HMRC by 19^th April.

This is a potentially complex area and we will be pleased to review any contracts you may have with customers to ascertain whether they are IR35 friendly. Please note that there is no such thing as an IR35 compliant contract.

For advice on this just email: shell@abc-accounting-services.co.uk or call 01427 613613 and ask to talk to Shell or Ian.

The post IR35 Personal Service Companies: The Facts appeared first on ABC Accounting Services.

Sometimes we need to take a break but there are so many obstacles in our way:

The post Why you need to take a break! appeared first on ABC Accounting Services.

But they are also immensely rewarding and nothing can put a smile on your face quite like a happy and content giggling baby that you helped create and raise.

These emotions and sacrifices may well sound familiar.

When you decided to start your business you practically gave birth to a baby. No really…you did!

Building your business is a huge commitment and at times it will take every ounce of strength, energy and sanity that you have available. People will not understand the sacrifices you make to keep your business on track because unless you have your own baby you do not understand what other parents are going through.

The sooner you admit what your business means to you the easier it will be to communicate that to others. It is not just a source of income or the product of you pursuing your passion. It is a combination of those things which makes it incredibly important to you.

If you asked yourself what you wanted most from your life as a teenager, you are not going to say a reliable partner and two healthy and happy children. You might – but it is unlikely. You are more likely to answer: to be living the dream – have money and be doing something I love. You want to reach your potential, make your mark on the world and earn a living while doing those things.

• Understanding/ Communication
• Protection
• Feeding
• Clothing
• Nappy Changing
• Love and Nurturing
• Introducing to the world around them

No matter the type, industry, or location of your business they all need the same:IT/Business Plan/Forecasts/Communications

• Business Insurance/Health & Safety/Security
• Credit/Sales
• Branding
• Debit/Supply
• Team Building/Advice/Support
• Marketing/PR/Networking

Babies inevitably grow.

You created your business and that makes it an extension of you. You want it to have your values – your drive – and
be made in your image. That is a natural desire as a parent.

In the beginning and to some extent throughout that journey your ambition is simply to survive. But, crafting your voice, building your story and standing for something (whatever that might be) can have a huge impact on your chances of survival.

Your business has a solid place within your heart. As soppy as that sounds it’s true. You cannot prevent the connection from forming because you have put your whole world into it and potentially jeopardised a lot of family and leisure time
to pull it off.

Sculpting your business in your own image works to a point, and it is imperative to ensure the ethos of your
company captures your core values. But, as the business grows there will be lots of other influences that will mold
and shape it for the better.

A company created entirely in ones own image has been suffocated. Whereas one that has grown through a multitude of experiences, mistakes, and leaps of faith is more able to adapt and evolve to suit the changing times and landscapes around it.

How will you parent your baby?

Baby business workshops will be coming to the local area in the coming months – to discuss your business problems, get support and advice from business veterans and have the chance to network with like-minded individuals – watch this space…

The post Your Business is Your Baby appeared first on ABC Accounting Services.

There are times when human spirit and human characteristics just do not seem enough for triumphing over life’s obstacles. This is no exception when it comes to business. We could all ‘roar’ on occasions when a superhuman strength feels necessary to advance past the pressures and stresses our working day throws at us. In fact, we often turn to animal instincts when we feel backed into a corner or challenged beyond our coping mechanisms.

There is something very primitive at the core of business. When someone challenges it or issues threaten the survival of your business, your baby, you fight for it. You throw everything including the kitchen sink at it. There are different challenges and different skills required to combat each of them. Does it require?

• Diplomacy
• Determination
• Consideration
• Decisive action
• Support
• Empathy
• Understanding
• Forgiveness
• Compromise

We are looking to the animal world to draw out five characteristics of five animals that could help you face any battle your business encounters.

1. The Wolf

An honourable, solitary, independent, strong and powerful animal. The pack is led by the leader or alpha who can be male/female. An alpha male usually controls the activities of the other pack members but in some cases a very strong female can usurp control from him and lead the pack. Equality has been there in nature all along! The structure of the pack is beneficial to all wolves in it as they survive in the wild away from human interference.

The pack mentality is that there is power in numbers and this also holds true for business. Whether that means you build a team of loyal and complimentary employees or you build a network with other local businesses and exchange business/skills/information with them. These two models can both give you security and strength where it would not exist if you were operating as an individual.

Wolves hunt in a group and collectively care for and teach their puppies. Hunting as a group means they can take larger prey. They also relay in the chase so they can conserve their strength by taking charges in turn. This is delegation operating at a very simplistic level but its message is a powerful one. If individual wolves tire there will be less present for the kill and the chance of no food retrieved from a kill at all increases. By sharing the workload they ensure their bounty, create equality, and stay safe. Businesses survive when a team or a pack can suffer some losses and work together for the biggest of gains.

2. Golden Retrievers

You may be thinking that this is an odd choice but there is something about loving animals that make them all the closer to their human counterparts.  A golden retriever wants to please everybody. They tend to be loyal, warm, and always there to comfort you. If we humanise them, they would likely find it hard to make tough decisions for fear of upsetting someone.

But every workplace needs characteristics of the Golden Retriever. They are trusting, open hearted and loyal individuals. This leads clients/customers to feel appreciated and cared for which is a quality that can never be overlooked. They also gel a team together because they thaw out colder colleagues and continue to demonstrate what a loving and loyal character can bring a workplace. Their relentless efforts are endearing to those around them and they probably make great huggers too!

3. Roadrunners

As the cartoon suggests, avoidance is the roadrunners chief skill. Some problems just need to be prevented, ignored, or for want of a better strategy, run from. Roadrunners usually have very sharp observation skills. In the wild they will see a problem immediately and be changing direction almost instantly. They are fast so their solution may be impulsive but they are far from indecisive.

Roadrunners in human form will try to avoid conflict at all costs. It is difficult to find out what their problems are because unlike an Emu that is stationary when it plants its head in the sand the roadrunner disappears from view. They will always avoid petty and meaningless conflicts making them a great remedy to overly dramatic personalities. However, they will allow problems to remain unresolved. Their logic and sharp observation skills will alleviate conflict in a tight team. Given the right time to prepare they will choose not to flee and contribute a very valuable insight into any issue that arises.

4. Cobras

What do cobras demonstrate in the wild that is a skill useful for business? Possibly on of the core strengths of any successful business leader. It is not quite as obvious as it may first appear. Cobras do not just strike at their opponent with lethal effect. They assess a situation, circle their opponents, and only ever enter conflict if they are certain of the outcome. Unless they are unnecessarily riled or threatened in which case they can have quite a deadly temper!

Cobras in human form are calculating and if they can insight others to retaliate for them they will. They can sometimes come across as manipulative and scheming but the heart of the cobra is to resolve conflict and constantly oversea the entire landscape instead of getting distracted by small details. Cobras work well when time is put aside to talk everything through, plan the road ahead and let them have their say/give their input.

5. Eagles

Eagles relish the opportunity to select their prey and decisively put it down. Their hunting strategy is brutally efficient. They have a complete overview of every situation, flying at distance from their target until the perfect opportunity arises. We associate Eagles with nobility, pride, power and prowess. There is something masterful in their skill set and simplistic about how they get what they want and get the job done.

Humans who have an Eagle spirit are flawless. They understand how conflict can be valuable and use conflict management techniques (listening, repeating what’s said to avoid misunderstandings, calmly stating multiple opinions and being open to other solutions). Eagles are often at the core of a business but are very rarely the leader as that is a difficult position to keep neutrality in. If you have hired an Eagle then you have a flawless fighter that should be used in the capacity of mediator and mentor to other members of the team.

Final Thoughts

Ultimately, everyone is different but if you are going to create a sustainable team a good mix of the above is best. Take key characteristics from the animal world and build a team that can handle itself when conflict arises. Do not view every team member as identical to the next because they will each have unique, skills, strengths and failings. That is just the way they were made and it is your job to utilise them so that you are getting their best performance. They are happiest when they are using the characteristics they have naturally acquired:

The Wolf unites

The Golden Retriever supports

The Roadrunner sees everything

The Cobra analyses

The Eagle mediates

The post What Animal Traits are needed in business? appeared first on ABC Accounting Services.

The culmination of this knowledge is a list of 50 top tips for keeping your business afloat based around what we have seen businesses benefit from and what we know is sound accounting advice. They wont all be Earth shattering insights, because a lot of business involves common sense, but there will be some nuggets of wisdom in there. We have also thrown in a few light suggestions to keep you amused along the way.

So enjoy and hopefully we will continue to entertain and educate our followers for another 10 years – cheers!

1. Good bookkeeping from day one not only makes perfect sense but it will also avoid a lot of long nights and accompanying stress further down the line. Get a system in order from the start and then you will always be on top of your paperwork.

2. Talk through big issues with someone else in business. If you run a business on your own another perspective can be crucial when making big decisions. You will not always agree with someone else’s insight but it does make you consider another viewpoint to that of your own.

3. Always make time for clients when they need it, even if it is not convenient for you. The same applies to customer service for commerce companies. It has to be above and beyond what the client and customer expects if you are to build real trust and respect with your target audience.

4. Leading on from point 3, the most valuable form of marketing today is still the same as it has always been – word of mouth. People talk and the only question you need to consider is whether they will be saying good or bad things about you and your business.

5. Don’t run out of tea, coffee, sugar, or milk. Firstly, because it is really bad for morale and secondly because you will look a right dummy if you can’t offer visiting clients a drink!

6. The traditional advice is to keep personal and business completely separate. ABC has more of a family style bond where the boss is the boss but still a colleague, source of support, and when needed, a friend. Do what works for your business but be careful to keep a clear line so that everyone knows where they stand when tough decisions need to be made.

7. Ignore social media at your peril. Facebook, Twitter, YouTube and LinkedIn are the big four. Instagram and Pinterest are the big movers. It is free marketing that will raise your profile so make sure you know your social media and get your business on there pronto.

8. Making mistakes and learning from them is the most valuable skill that you will learn. No mistake is irreversible unless you do not face it head on and put it right.

9. Keep all receipts from fuel, office supplies, overheads, work clothes, equipment, and hospitality/social functions so your accountant can claim full expenses entitlement against your tax bill .

10. Keep morale high by empowering staff, training them to be the best that they can be, and actively encouraging light relief and social events when the team need them.

11. Write all the important dates on a wall calendar where you cannot miss them: Year End, VAT Return, PAYE, Business Insurance Renewal, Website Hosting Renewal, Employee Birthdays…you get the idea.

12. Buy tons of pens because they have a habit of going missing!

13. Pass on your expertise – make sure people know what you know because it is great for your business, it means that one day you can reduce your hours and share your unrelenting responsibility with others who have followed in your footsteps. It also keep the company ethos strong and in line with what you set out to accomplish.

14. Expand your network so you are connecting with new people over social media and face-to-face on a weekly basis. If you can add one person to your network of contacts each week imagine where you will be in a year and then in five years.

15. Have plan A, plan B, and plan C ready at all times because the first attempt isn’t always the best attempt.

16. Keep reminding yourself why you started your business and ask yourself if it still matches your original objectives and ambitions.

17. Stick post-its on your computer but make sure they are for the most urgent task you have to do at that moment in time. It will help you prioritise critical issues and then once they have been dealt with you can throw the post-it away.

18. Your website is potentially your most valuable asset so make sure it reflects you and your business. Fill it with strong content, make sure it is optimised for searchability, loads fast because visitors have short concentration spans, and is attractive/original.

19. Automated posts, phone systems and digital communication cannot replace the human touch. Make sure your clients/customers know there is a person behind their service and someone who cares, can relate to them, at the end of a phone.

20. National Minimum Wage (NMW) often goes up on the 1st October, it is illegal not to pay employees NMW so keep updated on changes.

21. Give yourself the credit you deserve and acknowledge your success because you should feel proud of your achievements. Otherwise all you will ever feel is stress and responsibility and that is no fun.

22. Following on from point 21, celebrate successes because you are bound to beat yourself up over mistakes – the Universe likes balance.

23. Try not to say no too often, yes opens more doors that lead to more opportunities. Say no and you never know what could have been.

24. Learn to delegate, as much as you want to do everything yourself, you cannot maintain that level of commitment and workload forever.

25. Schedule in personal time. Block out days to spend with the family, trips away, and holidays. If you block out days in your calendar you will respect their importance and make them psychologically harder to put off or rearrange.

26. Connect with local businesses so your can exchange services/products, agree discounts, work on referral arrangements and have a friendly face at networking events to seek out.

27. Only take out a loan if you absolutely have to and make sure you get solid forecasts done to check and check again the feasibility of your business plan.

28. Have a mix of men and women in the office if you can ethically because the opposite sexes tend to have different qualities/strengths. They are not set in stone but generally speaking men and women can often provide different values to the team that compliment each other.

29. Have a dress code and stick to it. It doesn’t have to be suits and skirts, you may prefer a more causal approach. Many technology companies have a casual Friday to boost morale and give everyone a ‘ahhhhhhh’ day. If a policy is in place it is easier to address unsuitable attire issues.

30. Pay it forward by helping the next wave of entrepreneurs or by employing apprentices. Contributing to the future of business in both of these capacities can be financially rewarding in the long-run but it is for the personal satisfaction that most do it.

31. Keep your business account and your personal accounts separate. It makes bookkeeping far easier so if you are doing it yourself it will not take as long. If someone else is doing it that means it wont cost you as much. Sure, you can pay your business account back but will you always remember and keep the appropriate records. So much easier to keep them separate.

32. Call an expert when you are not sure of something. Many experts in pensions, insurance, banking, accounting, the legal sector, and the marketing sector to some extent are happy to offer free advice and may even provide a free consultation. Sometimes you need outside help so make sure you know when to access it.

33. Spend a lot of time interviewing people. Invite them in for trial days and make sure they fit in and you can imagine them being part of your company. Smarts count for a lot but you should also go by your gut – do they feel right? It’s your business so your feelings count.

34. Keep a close eye on in-comings and get a system in place early on that includes chasing outstanding invoices. Too many people sit waiting for the money to appear or forget about half of the invoices they have sent out. That’s your money!

35. Always remember to let your customers know where to go with calls to action. Never let them navigate around your site aimlessly, read your blog, or scan your flyer, without giving them their next destination – a strong pull or hook to something that will tell them more, offering them something better.

36. First impressions are made in seconds – are you giving a good one? Is your team giving a good one?

37. Prepare and practice your introduction for networking events so it comes across smooth and polished and says everything you intended to say.

37. Set expectations that you can exceed. The ultimate goal may take you some time to reach so put in short and medium term goals that give you a motivational push when you need it and a moment of joy and victory when you achieve them.

38. Be passionate and communicate to people with feeling. There is no shame in being excited, energetic and enthusiastic about your business. Too many people fear public reaction to a little confidence and pride but if you are happy then don’t suffocate that. The majority of your audience will actually find that refreshing and endearing.

39. Follow up on leads straight after events. For one thing it is easier because you can remember who you have talked to and are more likely to recall a detail that adds a personal touch to the email/phone call. And they also like immediate contact because it lets them know they were remembered and you are also fresh in their mind.

40. Singing around the office shouldn’t be done on a regular basis but a bit of music and self expression is great for morale and can be highly amusing. Just a thought!

41. Respect everyone that you meet and be courteous to the horrid people you immediately dislike. Why? Because you never know when you might need them or who they may know/be connected to.

42. Only sell what you would buy yourself. Only offer a service that you would be happy with yourself. It is a simple mantra but if everyone did it then we wouldn’t have call centers in countries overseas containing employees that customers just cannot understand. We wouldn’t be able to buy poor quality clothes that only last three washes or vehicles that break down around the corner from the garage!

43.  Manage your email by creating sub-folders so that you can filter emails into dedicated areas for each client/staff member/subscription/service provider. You can also have an ‘important’ folder to make prioritising your emails far simpler. Then just make sure you stay on top of them.

44. Rich Tea do make great dunkers but they taste a lot like cardboard. Hobnobs, chocolate digestives, custard creams and ginger biscuits are preferable. Offering clients a cuppa or a coffee is essential, offering them a biscuit is just plain nice (also good dunkers)!

45. Appreciate and encourage staff to motivate them. Pulling them up on mistakes is sometimes necessary but if you smile and provide a solution and incentive to revise and refine that solution then you can turn a negative into a positive. Never leave a conversation on a negative unless the mistake was business or life threatening.

46. Step out of your comfort zone because that is usually where opportunities await you. Everyone would be successful if it didn’t take a few brave steps into the unknown. Be prepared to try new things, trust new ideas and embrace change.

47. Negotiate energetically on price and never take the first quote without a little bartering. You never know what you might save and it isn’t cheeky or rude it is just business.

48. Measure everything and use that data to drive decisions so you always have solid facts to reinforce the direction your business is taking. It will also make you analyse decisions with logic rather than feeling.

49. Budget for tax. Budget for VAT. You will have to pay them both whether you ignore them right up to the deadline or not so it makes sense to set money aside and be ready for them.

50. Do not give up. Most people who are self-employed go through tough patches where they are penniless, disheartened, and beginning to doubt their future. The ones that survive grit their teeth and push on hard. They drag themselves into tomorrow and manage one day at a time until they start smiling again. Not giving up is the core skill embedded in most business owners.

As with any advice this is just what ABC Accounting Services Director and team would advise based on their experiences. Everyone is different and you have to learn to navigate your own path and learn from your own experiences. If Ginger Nuts are not your thing then buy in Bourbons. Follow your gut but more importantly follow the figures and continually measure your success against key performance indicators (KPIs).

The very best of luck and if you want to discuss your ambitions or issues with someone then we offer a half hour free consultation so just give us a call: 01427 613613

The post 50 Top Business and Accounting Tips appeared first on ABC Accounting Services.

She has taken the number of clients on the firm’s books from 50 to over 1500 and has recently had the ABC Accounting Service’s offices refurbished to accommodate growing demand. Belinda grew up in Gainsborough and the majority of businesses that her firm supports are from the area.

ABC Accounting Services was started because Belinda thought clients deserved a more tailored and cost-effective accounting service than the one large chains and franchises provided. The premises and charge-out-rates have always come second to straight talking communication and an open house policy.

Her local spirit is strong, Belinda proudly stated: ‘I would never leave Gainsborough, it is part of who I am and what ABC Accounting Services stands for – we have tons of local clients that pop in for a chat or just a natter all the time. This town is going in the right direction commercially and I am very happy to be part of its future.’

Of her ten years in business she had this to say: ‘you never get chance to relax and take stock of what you have accomplished. But, when I think about what I had when I started this company and where I am today it makes me want to laugh out loud in disbelief, grin, and cry, because it is so much more than I ever planned’.

The team at ABC will be celebrating ten years to the day in business on the 4th October with a few drinks in town courtesy of the boss!

The post Gainsborough Woman Celebrates 10 Years in Business appeared first on ABC Accounting Services.

One of Richard Branson’s favourite bits of advice is:

“Screw it, let’s do it!”

So, shall we?

If that isn’t enough to satisfy your hunger for information then we also have our own book out, written by our marketing manager with sections of insight from ABC Accounting Service’s director Belinda Darley.

This book has the perfect blend of tried and tested formula with a straight talking delivery so you will have a great grasp of the basics and own a resource that you can keep dipping into. To purchase a copy go to: Starting Up Your Own Business: An Accountant’s Perspective 

You can also visit our downloads page for more free resources: www.abc-accounting-services.co.uk/downloads.php

Or arrange a free consultation at our offices in Gainsborough, Lincolnshire: info@abc-accounting-services.co.uk

The post 10 great resources to help you start your own business appeared first on ABC Accounting Services.

ABC Accounting Services buck these trends and are part of the prosperous minority that embrace marketing with real success. As the research highlights there are three huge necessities when making marketing a priority for your business:

1) Make sure you have staff that are dedicated to marketing even if it is someone who shows a little innovation or independence on the team. Schedule in time that is dedicated to marketing and recording its progress.

2) Hit social media in a big way because clearly tons of your accountancy competitors still are not! There is a captive audience to be reached and tons of different platforms to test your material on. Use Facebook, Twitter, Google+ and LinkedIn to get started then you can always expand onto other sites that are gathering momentum.

3) Measure measure measure – how can you record what works and what does not if you are not keeping detailed information on what approaches you have tried and how many posts/conversations/leads led to full conversion from prospect to client. A simple spreadsheet will record everything you need to know in an easily accessible format.

Maintaining client numbers is hard enough but if you wish to grow and even expand then marketing is an essential tool that no practice can afford to be without. Start things small with a Facebook and Twitter profile. Ensure that someone can manage it and keep the content fresh and engaging. Then you can add networking events – say one every two weeks. Then comes an e-flyer campaign or an external SEO analysis and changes to the website to make sure you are getting the right footfall on your site from internet searches.

As things build then you need to be looking at employing someone who is dedicated to marketing but still able to liaise with staff and make sure your message remains an extension of what your company stands for. You all have to be on the same page and you have to be saying something worthy of the company name. What do you represent? What message do you wish to voice? What would you like to know about your business as a prospective client?

The article states that accountancy firms are continuing to fall short in marketing activities so this accountancy firm sees that as a massive opportunity. We intend to continue what we are doing in getting our message out there in a controlled, imaginative, and measurable fashion. Bucking the trend is the bright course of action here and we are proud to be doing just that!

Happy marketing everyone!

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