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When a customer takes 60 or 90 days to pay an invoice that should have been settled in 30 days, there is another way of looking at the transaction.You are effectively providing the customer with finance, usually without charging them for it.Late payment remains a significant problem for smaller businesses, although the latest Government statistics…

For many businesses, broadband has gradually become as important as electricity. Cloud accounting, video meetings, online backups, customer management systems and increasingly artificial intelligence applications all depend on reliable connectivity.The Government's latest Project Gigabit progress report, published on 22 September, says gigabit-capable broadband is now available to more than 88% of UK homes and businesses.…

Recent employment figures suggest that the number of people on UK payrolls is continuing to fall.That does not necessarily mean your business should reduce its workforce. However, it does provide a useful reminder to look at one of the largest costs faced by many businesses.The important question is not whether other employers are recruiting or…

Many successful small businesses have one person at their centre.The owner knows the customers, agrees prices, deals with suppliers, manages the bank account, supervises employees and makes most of the important decisions. Often, this is one of the reasons the business has succeeded.But it can also become a weakness.If too much depends on one person,…