Small business tips and news

No one enjoys long wait times associated with certain bank transfers. They affect the speed and ease of doing business, with delays contributing to cash flow problems. Even vendors become impatient if it takes too long to receive payments and they may fulfil orders late. Now, figuring out how long it takes for a bank transfer to go through is a step in the right direction, as it can help with selecting the fastest payment systems.

Bank statements provide a record of financial transactions made to and from your bank account over a certain period, say one month, six months, or one year. They may reflect a pattern of spending for individuals and help businesses track customer payments or expenditures. You no doubt know the importance of keeping your bank statements. Now the question that may be plaguing your mind is, “How long should I keep my bank statements?”

Get the right answer as per HMRC requirements. You'll also learn about the proper ways to store your bank statements along with applicable rules.

Fraudsters may send an email, text, or call you pretending to be from PayPal. They intend to get you to disclose sensitive information by redirecting you to a fake PayPal website (phishing) or asking you to share sensitive information directly. 

Scammers don't play by the rules and may run more ingenious PayPal scams in the UK. We’re reviewing common PayPal scams, how to stay safe, and how to report them.

The whole point of asking for proof of address is for the institution or government agency to ascertain where an individual lives. Financial institutions must adhere to strict security measures and anti-money laundering laws. Knowing where you live enforces trust. Because correspondence is delivered at your home address, verifying your proof of address ensures that the institution can reach you.

Now the most common documents used as the proof of address include:

Opening a bank account is not straightforward for everyone, for instance, trying to open an account as a foreigner in the UK, a student, or without proof of address. 

There are situations where you need good advice, such as when opening a business bank account. Even standard customers need to know certain things to ensure they are receiving the best experience.

So, let's find out how to open a bank account in the UK — the smart way.

We’ll be taking a look at the cost of starting a business by going over key expenses. You’ll get all the best money-saving tips for each business cost. Our guide also covers the cost of registering a new business and how to save on registration costs with GoSolo.

Running a business, regardless of size, is no easy feat. On any given day, you may be sending invoices, bookkeeping, calling customers, or preparing products for shipment.

Today —we’re helping you find the best accounting systems for small businesses, along with other tools for productivity, collaboration, HR, payroll, shipping, and other tasks.

Navigating all the different taxes that a small business needs to pay can be a complicated affair, especially if it is your first time owning and managing a company. To help you with it, we’ve collated a (relatively) short guide to the taxes you are expected to pay as a limited company with a single owner/director. 

Can you confidently account for all the costs involved in reselling or producing items in your inventory? If you don’t know how to work out the cost of sales, it could impact how you make business decisions. That’s because you’ll fail to determine your profits and expenses accurately. It consequently becomes harder to lift your bottom line. The goal of today's article is to help you define the cost of sales. You will see how to calculate it and what it means in the context of business decisions.

An accountant has always been an essential part of any business, even before the inception of the internet. These individuals were professionals who handled every financial activity of small and large businesses.