Steph Gemson of TaxGem outlines how to calculate your business margins to make sure that you're being paid enough for products and services. In today’s uncertain economic landscape, many UK businesses face significant challenges in maintaining healthy profit margins. Rising raw material costs, increased energy prices, and higher living expenses have forced many small business owners to rethink their pricing strategies. According to research from the Federation of Small Busine

Sadly, late payments can be a big issue for small businesses, but there are steps you can take to deal with them and mitigate the effects. When a customer doesn’t pay, they’re hanging on to money that is rightfully yours. Chasing debt can be stressful for a small business owner, and unfortunately with a third of payments to small businesses being late, it’s an all-too-common occurrence. If you’re unsure where to begin, we’re here to guide you through the questions you might h

Find out how you can get the best deal on your business insurance without compromising on protection for your small business, with five top tips for reducing your insurance premiums. When looking at your cash flow and expenses, business insurance premiums can be costly, especially after you add up all the other costs associated with running a small business. There are many types of business insurance cover you can buy to improve your business resilience. Some you are legally

As cybercrime continues to rise, businesses of all sizes are increasingly vulnerable to scams. From phishing to identity theft, discover how you can protect your small business against scams and fraud with our top tips. The number of scams designed to trick consumers into handing over their personal details and cash-in on current financial uncertainties has also been on the rise. A 2023 report by Cifas, the UK's leading fraud prevention agency, showed that £7.5 billion was st

If, like thousands of others, you’ve just had a baby born in the most popular birth months of September and October or this month,...

The Employment Allowance lets eligible employers reduce their National Insurance liability by up to £5,000 for the 2024/25 tax year. It’s designed to support smaller employers with their employment costs. In April 2022, the allowance increased from £4,000 to £5,000 and from April 2025 the allowance will increase to £10,500 a year. Employers’ Class 1 National Insurance contributions, rates, and thresholds for the tax year can be found on the government website. Am I eligible t

A guide to bank fees for small businesses Keeping on top of your outgoings is essential for any business, but with so many fees...

Running a floral business in the UK entails a variety of jobs, ranging from sourcing fresh flowers to crafting exquisite arrangements. Alongside the artistic aspects, florists are also tasked with practical responsibilities such as financial oversight and tax preparation. An important yet frequently neglected opportunity for tax relief lies in the recording and offsetting of fresh flower wastage. Accurate documentation of flower wastage can lead to an improved inventory manag

We continue our series of videos, The Business of Floristry, bringing insight in to the running of a florist business from our business guru, Karen Barnes. This video concentrates on key things you need to understand and consider around costs and costing in your floristry business. Enjoy the rest of the series: The Business of Floristry

The new financial year is often an opportunity to get organised for the year ahead. For self-employed parents juggling the demands of running a business with caring for their family, it could also be a good time to review the family planner and take a fresh look at the household budget to ensure they’re getting all the support they’re entitled to.   We asked the experts at HM Revenue and Customs (HMRC) to outline the financial help available for our readers so they can access

Learn why you may need a business bank account and how to choose the best one for your business.

You might have heard of salary sacrifice schemes before, but what do they mean for business owners and employees? Let’s look at this...

In 2014, the government introduced the Employment Allowance to give small businesses some relief on staffing costs.

Employers’ Liability Insurance (ELI) is a legal requirement if you have employees. Learn more here.

In this article, we look at the variety of business insurance cover you should consider as a florist business owner.