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Invoices

How Do People See the Work of Enforcement Officers?

Traditionally, people have always been terrified of “the bailiffs”. They’ve been seen as people who can descend on you and use strong-arm tactics to seize your property and leave you destitute. That’s a very Dickensian picture, and while it may have once been true, enforcement officers (as they’re more correctly called) are carefully regulated today. And a recent survey showed that 83% o
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Buy Now Pay Later — An Opportunity or a Trap?

In difficult times like these, resorting to Buy Now Pay Later (BNPL) can seem like a lifesaver. Used carefully and with full understanding, it can be a good way of spreading costs for items you can’t immediately afford. The problem is that many consumers don’t fully understand the terms and, as recent research by TotallyMoney shows, repayments can very quickly build up. What Is Buy Now Pay Later? BNPL is
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Are You Ready for the Changes in Employment Law?

If you employ people in your business, you already have plenty of things to remember for their terms of employment. Well, since 6th April there are two more — and not being ready for them could land you in trouble. Changes to Flexible Working Rules The Covid lockdown finally put paid to the already dying traditional model of working, where everyone came into a workplace and stayed from nine till five. Depending on th
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Small Businesses Are Confident About 2024

The Federation of Small Businesses reported that, for the 4th quarter of 2023, 40% of small businesses reported a fall in revenue, and confidence had also plummeted. Which makes it more surprising that, according to research by three separate organisations, optimism is high among small businesses for 2024. Expectations for Growth in Turnover In a recent poll by lender Iwoca, 47% of small businesses were expecting an
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Are IVAs Being Mis-sold? The Insolvency Service Investigates

An IVA (individual voluntary agreement) can be an invaluable resource for any individual person facing mounting debt. It offers the chance to protect yourself against action by creditors, and to structure repayments in an affordable way. However, like any financial product, there’s the potential for abuse. The Insolvency Service has announced that it’s investigating whether IVAs are being mis-sold. What i
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Late Payments — What Difference Will the Autumn Statement Make?

Small businesses doing business with giant corporations have traditionally had no choice but to put up with accepting the customer’s payment terms — sometimes having to wait months before getting their money. This can leave their cashflow in a dangerous condition, even threatening their ability to continue trading. The Chancellor’s Autumn Statement, on 22nd November, addressed this issue. The measures he
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Pay Attention to a Company’s Cash Flow Before Making a Decision

There are various reasons why you might need to examine another company’s books. You should certainly do so if you’re considering investing in the business, but you may also want to get a better idea of their finances before offering credit. But what should you be looking for? Turnover? Profit? Or is it better to look at cash flow? Why Is Cash Flow Important? Profit and turnover each give only a very partial picture
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Good News and Bad News for International Business

During the pandemic, SMEs worldwide assumed this was as bad as it got, and by this time things would have improved. In fact, 2023 seems to be even worse than the height of lockdown — in fact, the worst the economy has been since 2008. Strangely, though, this doesn’t appear to be causing gloom among business owners. A recent survey suggested that the vast majority of SMEs in the international business community are op
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Buy Now Pay Later — Flexibility or Debt Trap?

Buy Now Pay Later (BNPL) has grown massively over recent years, with options to defer payment being offered for everything from clothing to groceries. Used responsibly, this can be an effective method of obtaining credit to give flexibility in budgeting. However, it can also lead consumers into spiralling debt. The government promised to introduce regulation for the sector, but recent reports suggest they’re consider
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Administrations at Their Highest Since Before the Pandemic

During the Covid pandemic, surprisingly few companies went into administration. This was because a raft of government support measures, such as furlough and bounce-back loans, allowed struggling companies to survive. But this is over, now, and it’s showing, with new issues adding to the effect. The number of companies entering administration in March 2023 was the highest for three years. The Covid Effect on Administr
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