Dear <<First Name>>,
New research from Xero and PayPal, released earlier this month, revealed that 37% of small businesses owners have considered closing their company because of cash flow issues caused by late payments.
So, it was welcome news to hear that under new plans announced last month by Small Business Minister, Kelly Tolhurst, large companies could, in future, be held accountable for their payment practices. Or to be more precise, companies that fail to pay their small suppliers on time could face fines or censure.
The impact of late payments has a damaging domino effect across the UK economy. SMEs are the growth engine for the UK economy so it’s promising to see politicians recognising that late payments have plagued SMEs across the UK for decades and taking action to address this important issue.
I hope you enjoy reading this month's edition. We got some great feedback last month from the list of free local business events we gave for July, so we're back this month with some more events for you in August. And I'm sharing the second in my mini-series on growth strategies. In this post I discuss the avenue of franchising your business. If you have any questions about this, please don't hesitate to contact me.
Best wishes,
Simon Towers, FCA, Director
PS - If you would like to write a guest blog for our website or feature your business in our 'Client Spotlight' section of the newsletter, please email me for details.
Blog post: Growth Through Franchising
This is the second in my mini-series on growth strategies. In this post I discuss the avenue of franchising your business.
Why choose growth through franchising?
Franchising (if done right) is a great way to grow your brand. There is a lot of work to do to get your business franchise-ready, as well as planning for ongoing infrastructure and support – which is key to successful, long term franchising.
As the industry is self-regulated – I'll agree that there is scope for rogue franchisors to do pretty much what they like (not great news for unsuspecting prospective franchisees). However, there are many, many franchisors “doing it right” and have seen the rewards of much more sustainable model that survives the test of time.
Read the full post here, if you want to understand this growth route a bit more and see if its a route for you and your business.
Local business events
Attending local business events is a great way to learn new skills, broaden your thinking and make new contacts. We've gathered together a list of FREE training, networking and other events happening in the local area next month. Take a look and see which ones might benefit you and your business - what have you got to lose?
- Every Monday - I DO LIKE MONDAYS! Free networking event in Rugby
- 1 Aug, Northampton - Business Plan Masterclass
- 1 Aug, Milton Keynes - Be Your Own Boss
- 6 Aug, Coventry - FaB Networking with FindaBiz Coventry (FaB Networking events also take place in Tamworth, Nuneaton, Coventry, and Rugby)
- 14 Aug, Coventry - Employment Law / HR & Mental Health Awareness Seminar
- 19 Aug, Milton Keynes - An Introduction to Creating your Own Website for Business
- 19 Aug, Northampton - Business Book Club
- 21 Aug, Milton Keynes - Entrepreneur Network Event - Infrastructure for Scaleups
- 21 Aug, Leicester - HR and Health & Safety Event for Business
- 22 Aug, Rugby - One to One Business Support with Coventry & Warwickshire LEP Growth Hub
- 29 Aug, Northampton - Establishing an Online Brand
Deadline dates:
01 Aug - Corp Tax payment due to HMRC if your company yr-end is 31 Oct 18
31 Aug - Accs to be filed at Companies House if your company yr-end is 30 Nov 18
01 Sept - Corp Tax payment due to HMRC if your company yr-end is 30 Nov 18
30 Sept - Accs to be filed at Companies House if your company yr-end is 31 Dec 18
|
|
