Small Business

Keeping control of your finances

Unfortunately, not all aspects of running your own business are carefree and fun; a great deal of careful planning and accounting is also involved. Like any other nugget of advice from those who have gone before you and succeeded, this one is worth keeping hold of. In this article, Simon talks about P&L (profit and loss) and cash flow, and how it’s better to get it right the first time. He goes into detail about how to decide, based on your clientele, whether you need to invest in an independent accountant, or whether you can do it all yourself. You may think that it’s an easy decision, but when you start looking into the amount of time you have, the VAT restrictions of overseas clients, and the loss you might make if you get it wrong, it’s definitely something you need to spend some time sussing out. Read the full article here.

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