Too often, business plans are only thought of in relation to obtaining funding for a business.  In fact, a business plan is much more than that. It is a valuable tool for every business owner from start-ups and those looking to grow, to those that have been in business for years. Creating a business plan makes an owner take a holistic view of their company, and the sector in which it operates.Continue reading

Although the economic situation is improving, SMEs should be doing more to protect themselves from bad debt and late payments from customers. Continue reading

Landlords have been experiencing a rough time of late with both the introduction of the Commercial Rent Arrears Recovery provisions and court rulings on various issues surrounding landlords and tenants.

It is a common occurrence that a liquidator will disclaim a lease under section 178 Insolvency Act 1986. A disclaimer does not prohibit a landlord pursuing any guarantors (who remain liable) but what about the landlord’s liabilities for business rates? This question formed the basis of the latest reported case from The High Court in Schroder Exempt Property Unit Trust and another v Birmingham City Council [2014] EWHC 2207.Continue reading

Have you every wondered what the point of the company Christmas party is?

When you get right down to it most of us put on a ‘do’ every year but is it actually appreciated? Or are we just doing it out of duty? There is a sense of tradition in the office party I suppose. Whether it is a meal and a disco at a hotel, a black tie formal affair, or a few drinks and a buffet in the office we tend to see it as part of the Christmas cavalcade.

Of course we want to say thank you to the staff for their hard work and throwing a little celebration around the Christmas period is a great way to do this. But how often do we throw money and resources at this annual event only to wonder if anyone actually wanted it? Here are some suggestions to mix things up and maybe avoid a little bit of the financial sting over the festive season.Continue reading

There is an old saying ‘prevention is better than cure’ and it is one that rings very true for the financial stability of your business.

At Marshman Price we see businesses of all sizes in various stages of financial difficulty and it is never easy to pinpoint a particular time when things started to go wrong. A business is a complex animal no matter what the size; and problems are caused by a chain of events not a single factor. There is no ‘one size fits all’ solution and if you have looked through our website, you will see we don’t try to offer one.Continue reading

We all know that prompt payment of your outstanding invoices is key to maintaining solid cash flow.

I think we are all also aware of what happens when our outstanding invoices don’t resolve into income as expected. At best this costs time and money in chasing and credit control, and at worst it can cause severe cash flow and even long term financial issues.Continue reading