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Chartered Accountants

Trusted advisers of all tax compliance and annual accounting issues facing both individuals and small businesses.

Boost your business’ cash flow

Posted on Jun 28, 2018 by admin

Managing cash flow is the golden rule for most small business success. Too many small businesses fail due to poor cash flow management. To avoid getting your business into trouble, consider the following tips: Prepare a cash flow projection – Cash receipts, including income from sales and income from financingcash disbursements, including all expenses (cost of goods, operating expenses, loan payments, income tax payments, etc.). – Net cash flow — opening cash balance plus receipts, minus disbursements. – Ending cash balance. Review discretionary spending Any items that are not essential to current operations can be deferred or eliminated. Such expenditures […]

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Simplifying your marketing

Posted on Jun 28, 2018 by admin

Overcomplicating your marketing efforts in a bid to increase awareness and boost sales is a common trap. As the marketing industry continues to overcrowd and evolve with technology, businesses need to look for ways to break through the noise and send their audiences a clear message. Here are three tips to simplify your marketing: Avoid attempting to master all channels Businesses are vying for audience attention which is resulting in people deliberately opting out, i.e., skipping ads. Rather than focusing on all marketing channels, i.e., email marketing, SEO, paid advertisements, apps, social media, PR, blogging and so on, pick a […]

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Creating an agile workplace

Posted on Jun 28, 2018 by admin

In today’s society, technological change is the norm – new opportunities are continually arising that change the way a business operates or improves products and processes. Businesses that are complacent, risk failing. Creating a workplace which emphasises the need to meet changing demands is important. That is where agility fits in. An agile workplace is one that adapts quickly to the changing needs of the market, its customers, employees and other key stakeholders. Agile workplaces respond faster to these trends and disruptions, are more efficient and encourage innovation. Consider the following ways to promote a culture of agility in your […]

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Dealing with conflicts of interest

Posted on Jun 22, 2018 by admin

Although conflicts of interest are not uncommon in the workplace, they can be harmful to a business if they are not appropriately managed. A conflict of interest is when an employee’s private interests interfere with their performance of their duties. For example, it may give them a personal advantage. It is important to note a conflict of interest can be an actual, perceived or potential conflict of interest. Some examples of conflict of interest in the workplace include: – an employee recommending a friend for an advertised position – an employee starting up their own business on the side with […]

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Communicating effectively with difficult people

Posted on Jun 22, 2018 by admin

Working with unreasonable people is inevitable for most individuals at some point in their careers. Whether it is an unhappy customer, difficult colleague or uncompromising community member – chances are you will encounter at least one of these situations. Unfortunately, there is no crash course in dealing with difficult people, but by applying some basic principles of communication, you can manoeuvre through these situations with ease. Here are three ways to improve your communication with difficult people: Harness the power of listening When dealing with a difficult person, it can be easy to fall into the trap of not listening […]

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Reducing your winter bills

Posted on Jun 15, 2018 by admin

When the winter season commences, you might notice a spike in your bills. Although, it is no surprise that additional heating and hot water adds up, you may be surprised at how you can reduce these costs with minimal effort. Consider the following tips to reduce your winter bills and lessen your environmental impact: Heating and electricity Instead of turning up the dial on your heating, look to other ways of heating up without using gas or electricity. Simple changes such as dressing warmly, closing the doors of the rooms you are not using and using a door snake can […]

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Preventing burnout in your workplace

Posted on Jun 15, 2018 by admin

Burnout can be detrimental to your employees’ wellbeing and the overall productivity and performance of your team. Despite the consequences associated with burnout, many workplaces do not have effective strategies in place to prevent burnout from occuring. The key for many employers is to keep employees engaged, satisfied and harmonious. Here are three factors that can influence employee burnout: Work/life balance Expecting staff to be available at all hours of the day is unreasonable for most jobs. If staff are expected to check their emails after work hours or on weekends and paid leave, you may want to consider the […]

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Why failing can be good for your career

Posted on Jun 15, 2018 by admin

Failure is often considered a sign of weakness or defeat. However, it is also known to be a natural stage in an entrepreneur’s career and a stepping-stone to success in the world of business. Embracing the failures that arise in your career will help you to pinpoint ideas, strategies, etc, that were not working and learn from these past errors. It is often through analysing what did not work in the past that allows us to evolve and find the right strategy for success in the future. Facing these challenges also builds life experience and diminishes the fear of failure. […]

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Self-care for busy entrepreneurs

Posted on Jun 7, 2018 by admin

For a hustling entrepreneur, finding moments for self-care can be a feat that seems impossible. Every day you have meetings to attend, emails to answer, and too often ‘you’ becomes your least important task. However, looking after your wellbeing is essential to avoid overworking yourself and crashing on the job. Committing to a healthy and balanced lifestyle ensures your productivity and creativity levels are at peak performance every day you enter the office. Consider incorporating these self-care habits into your weekly routine. Spend time with your family Give yourself a break from the office every Saturday and Sunday afternoon by […]

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Social media marketing trends

Posted on Jun 7, 2018 by admin

Social media platforms continually introduce new features and functions that change the way digital marketers create and distribute content. Maintaining awareness of popular social media trends helps to stay competitive and utilise trends to your business’ advantage. Here are three social media trends to watch out for: Influencer marketing Influencers are taking over the social media landscape, particularly on Instagram. Influencers are generally bloggers or celebrities that have the power to influence their target audiences. The benefit of using influencers is that they can deliver a message to a large amount of people. This can help to increase awareness and […]

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For many years now Garry Hughes of BDS Hughes Chartered Accountancy and his team have provided us with an exceptional professional service. We have found Garry‘s knowledge in his field of taxation, business planning and financial matters of great value to us, along with providing us additional recommendations for improving our business strategies. We would recommend their friendly and professional services to anyone who is looking for an accountancy service that will improve their business performance.
Jane HandleyDirector Rug Doctor

Latest news

New Research and Development tax incentive

Posted on October 12, 2018 by BDS Hughes

The Coalition Government will introduce a new tax incentive aiming to unlock further spending on research and development. The research and development (R&D) tax incentive is the government’s response to extensive consultation with businesses. As part of the incentive the government has stated that the rate will be higher, the threshold lower and the definition more inclusive so that as many businesses as possible can benefit from this incentive. The R&D incentive aims to give business’ the opportunity to increase productivity and boost wages. The Coalition agreement will work to increase R&D spending to two per cent of GDP over […]

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