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You have the idea, the energy, and maybe even your first customers. So why slow down to write a business plan? It can se...
25/08/2026

You have the idea, the energy, and maybe even your first customers. So why slow down to write a business plan? It can seem like something banks ask for, but not something that really helps you run your business.

However, for small and growing businesses, a well-crafted plan is not red tape. It is one of the most practical tools you can have to grow your business.

A plan forces clarity

Day-to-day, running a business makes for a busy work life, and this can stop you from properly considering some vital questions. For instance, where exactly is your revenue coming from in 12 months? What happens if your biggest customer leaves? How much working capital do you need?

Writing a business plan forces you to answer these questions. The process of articulating your market, your competitors, your pricing and your costs often reveals assumptions you had not realised you were making. That clarity is very valuable and can make a significant difference to your day-to-day decision-making.

You have the idea, the energy, and maybe even your first customers. So why slow down to write a business plan? It can seem like something banks ask for, but not

The government has announced a temporary reduced rate of VAT for children’s meals in restaurants and family leisure acti...
24/08/2026

The government has announced a temporary reduced rate of VAT for children’s meals in restaurants and family leisure activities over the summer.

VAT will be reduced from 20% to 5% between 25 June and 1 September 2026 for qualifying activities as the government tries to ease pressure on household budgets and promote activity for tourist businesses.

The temporary VAT reduction applies in England, Wales, Scotland and Northern Ireland. In addition, children in England aged 5-15 will qualify for free bus travel during August.

The dates the relief applies between are set to coincide with the start of the Scottish school summer holiday on 25 June, and the end of the school holidays in England, Wales and Northern Ireland on 1 September.

Which services are eligible for the reduced rate?

The reduced 5% rate will apply to:

- Children’s meals served in restaurants for consumption on the premises.

The government has announced a temporary reduced rate of VAT for children’s meals in restaurants and family leisure activities over the summer. VAT will be

Apple announced last week that Tim Cook will step aside as chief executive on 1 September 2026, and hand the role to the...
18/08/2026

Apple announced last week that Tim Cook will step aside as chief executive on 1 September 2026, and hand the role to the current head of hardware engineering, John Ternus. Cook will remain closely involved as executive chairman.

If you are a business owner or founder, you likely think about who is going to take over your business when you decide to retire or withdraw from it. Apple described their leadership change as “a thoughtful, long-term succession planning process”.

What lessons can be gleaned from Apple’s approach?

Succession takes time, so start early

Most obviously, succession planning needs to start well before the founder or business owner decides they want to leave.

John Ternus has spent 25 years at Apple and has been involved in many of its product lines. He described Tim Cook as his mentor, suggesting that, at least in recent years, he has been steadily expanding his responsibilities and receiving incremental training and experience to make him ready for the role.

Apple announced last week that Tim Cook will step aside as chief executive on 1 September 2026, and hand the role to the current head of hardware engineering, J

Running a business in the UK right now feels like navigating a motorway in the fog. You know where you want to go, but b...
17/08/2026

Running a business in the UK right now feels like navigating a motorway in the fog. You know where you want to go, but between rising costs, shifting market conditions, and the pressure to make the right call at every turn — it's easy to drift.

If you've ever made a major business decision based on gut instinct alone, crossed your fingers, and hoped for the best — you aren't alone.

But here's the truth: You didn't start your business to guess your way to growth.

The Real Cost of "Winging It"

Many UK entrepreneurs treat strategy as a luxury — something to think about once the business is "more stable." But stability rarely comes without a plan. Here's what flying blind actually costs you:

- The Visibility Gap: Without proper financial forecasting and performance analysis, you're reacting to problems instead of preventing them.

- The Opportunity Cost: Every month without a clear growth strategy is a month your competitors are pulling ahead — even with fewer resources.

Running a business in the UK right now feels like navigating a motorway in the fog. You know where you want to go, but between rising costs, shifting market con

If you are thinking about selling your business, whether that is in six months or six years, one of the first questions ...
11/08/2026

If you are thinking about selling your business, whether that is in six months or six years, one of the first questions you will probably ask yourself is “what’s it worth?”

While there are formulas designed to calculate the value of a business, in the end the answer to that question comes from a judgment call made by a prospective buyer who will be weighing up the risk and return of buying your business.

Many business owners focus on the headline profit figure. Of course, profit does matter, but it is only one part of the picture. Buyers focus on how sustainable those profits are, how dependent the business is on you personally, and how easy it will be for them to step in and run it.

Here we set out some of the main factors that typically affect the value of a business and some practical suggestions on steps you can take to improve your position before you go to market.

If you are thinking about selling your business, whether that is in six months or six years, one of the first questions you will probably ask yourself is “wha

Let's not dance around it.If you're running a property management company in the UK and your books are a mess — or worse...
10/08/2026

Let's not dance around it.

If you're running a property management company in the UK and your books are a mess — or worse, you're still cobbling things together in a spreadsheet — you're not just making life harder for yourself. You're actively putting your business at risk.

And the frustrating part? Most of the problems we see aren't caused by bad properties or bad landlords. They're caused by bad accounting. Specifically, accounting that wasn't built for how property management actually works.

This guide fixes that.

Whether you're managing 10 properties or 1,000, here's everything you need to know about accounting for property management companies in the UK — written plainly, without the jargon.

Why Property Management Accounting Is Its Own Beast

Most businesses have a simple financial loop: money comes in, you do the work, you keep the profit. Property management doesn't work like that — and that's where most generic accounting advice falls flat.

Let's not dance around it. If you're running a property management company in the UK and your books are a mess — or worse, you're still cobbling things tog

If you have been running a business for a while, maybe as a sole trader or in a partnership, you may have heard someone ...
28/07/2026

If you have been running a business for a while, maybe as a sole trader or in a partnership, you may have heard someone say, “You should incorporate”.

Sometimes that is well-meaning advice, but is it true that incorporation is the smart move for all business owners?

Let’s look at some of the factors you should consider if you are thinking about incorporating your business.

The tax angle

For some years, incorporation was seen as a straightforward tax win. Company profits are taxed at corporation tax rates, and if you took money out of the company using a mix of salary and dividends, that often worked out to a lower tax cost than paying income tax as a sole trader.

Today, heading into the 2026/27 tax year, the picture is more nuanced. Particularly where profits are all withdrawn from the business to cover living and other personal costs, incorporating may no longer lead to a tax advantage.

If you have been running a business for a while, maybe as a sole trader or in a partnership, you may have heard someone say, “You should incorporate”. So

In many business failures, a collapse can look sudden from the outside. The underlying problems usually begin months or ...
27/07/2026

In many business failures, a collapse can look sudden from the outside. The underlying problems usually begin months or even years earlier and businesses that avoid crisis are those that spot financial instability early and act on it quickly.

Here, we look at some of the financial stability measures and early warning signs you need to know about for your business.

Cash flow: a key stability measure

A key reason for business failure is running out of cash, not lack of profitability.

“Lock-up”, which is the time between starting work or buying stock and invoicing and receiving payment, is a critical measure for any business holding stock or dealing with work-in-progress (WIP) and credit terms.

If lock-up is high or increasing, the business will eat into cash reserves or become more reliant on overdrafts. This weakens its ability to cope with unexpected shocks.

In many business failures, a collapse can look sudden from the outside. The underlying problems usually begin months or even years earlier and businesses that a

At one time, incorporating a business once profits reached a modest level was almost the default advice. Today, the conv...
20/07/2026

At one time, incorporating a business once profits reached a modest level was almost the default advice. Today, the conversation is more nuanced, and some existing company owners may even be asking themselves, “Do I still need a limited company?”

The question may be prompted by rising tax bills caused by reductions to the dividend allowance and increases in dividend tax rates. In some cases, it may now be more tax effective to trade as a sole trader rather than as a limited company. However, tax is only one part of the picture.

This article looks at some of the key factors involved in disincorporating a business that can help you decide whether this is something you need to look at.

Loss of limited liability

A limited company is a separate legal entity. While this does not eliminate all risks, it does provide a layer of protection between the business and your personal assets.

As a sole trader, that protection is not there.

At one time, incorporating a business once profits reached a modest level was almost the default advice. Today, the conversation is more nuanced, and some exist

Stay ahead of three key changesWith 6 April 2026, ushering in the start of the new tax year, there are some changes on t...
14/07/2026

Stay ahead of three key changes

With 6 April 2026, ushering in the start of the new tax year, there are some changes on the way that may affect how you run and plan your business. To help you stay ahead, we have highlighted three key updates worth having on your radar.

Making Tax Digital

For an estimated 864,000 sole traders and landlords, the new tax year marks the beginning of Making Tax Digital (MTD) for Income Tax. Many more will follow in April 2027 and April 2028.

Sole traders and landlords with gross income above £50,000 in 2024/25 are being mandated into MTD from April 2026. Being within MTD will mean keeping digital records and using software to submit quarterly updates to HM Revenue & Customs (HMRC), as well as an end-of-year tax return.

MTD will be a significant change in how income tax responsibilities are handled, and it pays to be as prepared as possible.

There are some limited exemptions available.

Stay ahead of three key changes With 6 April 2026, ushering in the start of the new tax year, there are some changes on the way that may affect how you run a

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