Why Is Psychology Pricing Important For Small Businesses?
The human mind is a fascinating thing, never more so than when we are looking at things from a business perspective. Our brains are wired in mysterious ways, and this is where the power of psychological pricing comes into play. As a small business owner or a crafty side hustler, understanding how psychological pricing works […]
5 Key Benefits Of Budgeting For a Small Business
I know you have plenty to do as a small business owner or side hustler, plenty to keep you busy and loads of necessary jobs, so why is it so important to complete a budget as well? In the world of small businesses and crafty side hustles, keeping a close eye on your finances can […]
The Trading Allowance for small businesses and sole traders – explained.
The trading allowance for small businesses and sole traders was introduced by HMRC as a way to simplify bookkeeping and tax returns for start-ups and side hustles. But, despite it being simple in theory, it is actually one of the most misunderstood (and misused!) elements of small business and sole trader bookkeeping. No more though, […]
Pricing for Profit: Unleashing the Power of Pricing Models for Small Businesses and Crafty Side Hustles
In the world of small businesses and crafty side hustles, pricing your products or services effectively is crucial to ensuring sustainable growth, income and profitability. Finding the right balance between covering costs, staying competitive, and maximising profit can be a challenge. Luckily, there are several well-known pricing models that can guide you towards pricing for profit. In […]
4 Essential Steps to Completing Bank Reconciliations for UK Small Businesses and Side Hustles
Bank reconciliation is an important process that helps small businesses and side hustlers make sure their financial records are accurate by checking that everything on the business bank statements is reflected in the accounts and picking up any errors that have happened. In this blog post, we’ll explain the four essential steps to successfully completing […]
The 10 Most Important Reasons For Managing Your Small Business Cash Flow
Being a small business owner or sole trader brings many challenges. For most, bookkeeping is one of the hurdles they find hardest to jump over. But it needn’t be hard, and part of great business management involves a particular area of bookkeeping – cash flow. As a solopreneur or small business owner, how much ‘cash’ […]
How To Do Small Business Bookkeeping Year-End Checks
Ah, year-end checks for small businesses – that time of year when we all scramble to make sure everything is in our accounts for the year and we’re not going to get hit with any unexpected tax bills from HMRC. It can be a bit daunting but fear not, I’m here to guide you through […]
How To Set Up Your Small Business Accounts For The New Tax Year
What better time to set up your business accounts the right way than at the beginning of the tax year? A fresh slate, a fresh start and a blank page, means you can do your small business bookkeeping correctly from the beginning. As a small business owner, you must ensure that your accounting is in […]
What Is The Self-Assessment Trading Allowance?
Most people have heard about the trading allowance, and a lot of people think it is helpful. But it is often misunderstood and misused. Here I will unpick it a bit, talk about its positives, its negatives and hopefully clear up any questions you have about it. What is it? The Trading Allowance can seem […]
Bookkeeping And Finance Glossary
Understanding your bookkeeping and accounts can be complicated enough, but if you don’t know the lingo, that certainly doesn’t help! Lots of the terms used aren’t even applicable to cash basis sole traders which can make things even more confusing! I’m going to break some of it down for you here, into easier-to-understand explanations, so […]
