Taggart & Partners Tips, Videos and Blog
Taggart Tip #9 Is Your Small Business Reliant On A Single Income Stream, Supplier or Client? Here's What You Should Do...0:44
In the dynamic and competitive business landscape, profit planning plays a crucial role in the success and sustainability of any organisation. It is a strategic process that helps businesses set clear financial goals, create feasible budgets, allocate necessary resources, and navigate challenges effectively while monitoring financial performance. By actively managing and optimising profits, businesses can maximise their financial health and achieve long-term growth.
In this dynamic world, business growth is not a luxury – it has become a necessity. This is not only true for well-known high-turnover and high-attrition businesses like big tech and big finance. Even in the smaller and (sometimes) quieter regions of enterprise, changes to technology and society have upended the constant-state business models of the past.
Running your own business can be a daunting but ultimately rewarding task, as you work to cultivate your own creation into hopefully becoming a self-sustaining enterprise. There are many factors that go into running a business, but none of them are more important than accounting. Money is the lifeblood that keeps companies running and it is vital that you properly keep track of your income and expenses, so you are always aware of how much cash your business is earning and spending.
As part of the 2022-23 Budget, the Government announced on March 29, 2022, that it will be supporting small businesses through new measures, specifically, the Skills and Training Boost Initiative. This initiative will allow eligible businesses to claim a bonus tax deduction on top of the already allowed deductions for training their employees.
It often seems like the only thing we can be sure of is that we don’t really know what’s coming next. Hopefully it’s good; sometimes it turns out to be bad. What is business insurance? It is a parachute for your enterprise. When you need it, nothing else will quite do. Taggart & Partners are
Your business no doubt employs an accountancy firm, and they probably do a pretty good job of tracking your finances and filing your taxes. Do you know that there is so much more a business tax accountant can do for your enterprise? When an accountant is proactive, they don’t just fill out forms and file