From April 2026, increases to the National Minimum Wage and National Living Wage are set to impact businesses across the UK. For SMEs, particularly those with larger teams or tight margins, even small hourly increases can have a significant effect on overall payroll costs. The updated rates mean higher earnings for employees, but also increased financial pressure for...
For many UK small businesses, cash flow remains one of the biggest challenges in 2026. While inflation has eased, interest rates remain high and the cost of borrowing continues to put pressure on day-to-day finances. With the Bank of England base rate still elevated, overdrafts, loans and credit facilities are significantly more expensive than they were just a few years ago....
As we move further into 2026, cost management remains one of the biggest challenges facing small and medium-sized businesses. While there are signs of improving confidence across the UK economy, many businesses continue to feel pressure from rising wages, supplier costs and overheads. The good news is that with the right planning and financial visibility, businesses can take...
If you’ve ever spent weeks (or months!) chasing a client for payment, this one’s for you. The UK government has announced plans to crack down hard on late payments to small businesses and it could mean faster cash coming into your bank account. Here’s what’s changing, why it matters and what to do about it. The problem: Big...
Being in financial distress is incredibly worrying for any business owner. When you’re facing County Court Judgements (CCJs), mounting debt and the possibility of insolvency, it can seem like there’s very little light at the end of the financial tunnel. The latest report from insolvency experts at Begbies Traynor shows a record number of UK businesses finding themselves...
Keeping on top of your finances is a critical part of keeping your business on track. But are you doing everything you can to optimise your financial management? In this series, we’ll look at some key ways to optimise your business, exploring different avenues to evolve your enterprise and create a legacy you can be proud of. Let’s...
Business rates can be a major overhead when you’re running a shop or hospitality business. But the good news is that your business may be eligible for relief on these rates. Retail, hospitality and leisure relief is available for eligible businesses that meet the criteria. And if that’s you, you could be looking at a 75% cut to...
Here’s your breakdown of the major business announcements from the Autumn Statement 2024. A budget to fix the foundations of the economy Rachel Reeves, the Chancellor of the Exchequer, delivered the Autumn Statement on 30 October 2024, saying that this was a budget intended to fix the foundations of the economy, deliver change for working people, mend the...
For your business to make money, you need to generate revenue. You produce revenue through your usual business activity, by making sales, getting your invoices paid, or taking cash from paying customers. So, the better you are at selling your products/services and bringing money into the business, the higher your revenue levels will be. But what actually drives...
Projecting your cashflow pipeline forwards is vital. To be able to navigate the future path of your cashflow, you need to start forecasting – so you can map out your financial position over the coming months and can take the appropriate action to safeguard your cash position. Plus, when you have access to detailed forecasts you can scenario-plan,...
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