Small business tips and news, page 6

There are many examples of companies using trading names while doing business. PricewaterhouseCoopers International Limited, based in the UK, operates under the trading name PWC. It adopted the trading name in 2010 and reworked its logo to resemble its brand name. Papa John's International, the fourth-largest pizza chain in the US, does business as Papa Johns.

“I'm going to start saving and investing,” you vowed to yourself many moons ago. But it’s still the same old, same old.

When the pandemic rolled around, it caught many people unawares. Eager not to repeat the same mistakes, many people have been looking to adopt better financial habits and plans. The future still remains bleak, but the 50/30/20 rule may be the ray of light you need. So, what is it, and how does it work? Let's find out.

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 in the UK can seem daunting, but it really shouldn't be. Especially when you are looking to open a bank account for your start-up business. So, let's find out how to open a business 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.