Starting a business – the very first question.

Before venturing into starting up a business or becoming self employed, we need firstly to establish whether you can legally function as a business rather than being employed. Many people believe falsely that if you set up a business you can trade as a business, however, there are two fundamental reasons for the government to …

Bad Debt – Avoidance and Recovery

Prevention is better than cure as the old saying goes, but often we don’t think of bad debt until it is too late. For a small business that may mean the difference between staying profitable or closing up shop. So here are a number of things that you can do to reduce the risk of …

Accounting Terminology

As in all sectors, the financial sector has wording that often leaves the lay person boggled. Here are a few terms that we casually throw about, which we may not really know the meaning of: Assets:  an item that is regarded to have value. This could be in the form of fixed assets like property, …