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Could a salary sacrifice scheme cut my tax bill?

As a small business owner you recognise that your staff are an important asset but perhaps you don’t have the cash to give them an immediate pay rise. Nicola Roby, at CHW Small Business Accountants tells how as an employer you can you be an attractive company to work for.

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How to get your customers to pay on time

The practice of late payments is hammering small and medium-sized businesses across the UK. This might sound dramatic, but it’s true. A survey of 80,000 invoices carried out by business financing firm MarketInvoice indicated that 62% of invoices issued by UK small businesses in 2017 were paid late.

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Options for funding growth in your small business

When starting their own business, many people use personal savings or funds borrowed from friends or family. Some are fortunate enough to secure a start-up grant or loan, or sometimes banks provide help with funding. As the business becomes more established it may have its own cash reserves, but investing them all in growing the business could leave it dangerously short of working capital.

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How to incentivise your employees

It is no secret that people like to feel rewarded for a job well done. Whether it’s a simple ‘thank you’ or a bonus, evidence shows there are benefits of rewarding employees for hard work. A poll of over 2000 workers which was carried out by the Reward and Employee Benefits Association revealed that 82% felt motivated after receiving some form of recognition.

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Planning the perfect exit strategy

If you own a business, or you have shares in someone else’s business, you should have considered how and when you’ll sell up and move on to your next project. The exit strategy process can take various forms, and it can be difficult to figure out which option is correct for you.

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