Through our nationwide network of consultants, services offered include:
Running your own business can often be very challenging and a lonely place.
Sometimes it only needs a telephone conversation or even just to run through an idea or situation.
Feel free to ring us at any time , we will happily talk through situations confidentially and without a charge.
Should you wish to have on going service , we will recommend one of our consultants who is most suited to your industry and you.
Our consultants have either owned or ran their own business or have worked in the £2m- £10m business
Whether it is a structured ISO accreditation or an audit trail driven FSC, we have done these many times over.
This experience enables us to offer a cost effective fixed price solution allowing you to focus on running your business.
Management information needs to be at the foundation for any business. However, this doesn't need to be war and peace, and certainly not be time consuming to produce.
It's obvious to reduce costs and increase sales, but the question is how.
Within our industry, if you are of a certain size it is an on going challenge to continually deliver the sales figures required.
New sales people may bring in new accounts, but what is the overall contribution?
Consultants, bank managers and accountants have all their ideas but they may not have done it and in truth, unless they have, they don't really know how.
Our consultants have worked within the SME marketplace either as a business owner or director and know first hand what a business requires.
If we can't help you, we'll walk away without a charge.
For businesses it is a different matter as there is little or no help and the 'creditor noise' only goes up.
At The Business Board we can approach your creditors and help compose payment plans, leaving you to run your business.
Our Debt Management scheme works as we are the third party. Creditors will often be more open to listening to an independent organisation with a structured approach.
Stage 1 is to break everything down into achievable steps forward.
This is often challenging in itself, and certainly helps to run through your plan and steps with a partner , friend or one of our team
We can guide you through the plethora of finance options that are available.
The finance available may transform your business. Asset and invoice finance are the most common options.
Peer to peer lending is going from strength to strength and is a great option to be able to move away from the banks.
Payroll lending is another short term fix for productivity peaks.
For a business aiming to expand and purchase new equipment the right type of finance is vital. If you are looking at buying brand-new devices, re-furnished or elevating working resources against equipment or properties you currently possess, there are a number of options.
Asset Finance, as this sort of funding is known, can be a cost effective remedy, allowing the buyer to spread the cost of acquiring plant, machinery or vehicles over a variety of years. This aids capital and matches the financing to the life of the asset which is essential when structuring the finance of any company.
According to the Finance & Leasing Association (FLA), Asset Finance now accounts for most of debt-financed capital expenditure within the UK. Around a third of all businesses in the UK with external loaning.
How it works – New Capital Acquisition
If you are planning to acquire brand-new machines for your business you choose the devices and the needed finance is supplied, either straight or indirectly, by a Finance provider. If you are using a finance lease basically you are contracting the asset by making regular monthly payments to the finance firm over a predetermined term (normally 2 to 5 years). At the end of the term you have the choice to buy the asset for a nominal amount, offering you total control.
Regular payments suggest that capital can be accurately anticipated and the finance system has great tax benefits for SMEs too. HMRC will identify the business as the owner of the asset initially of the arrangement and because of this, the business could assert capital allocations and interest could be offset against profits.
Notably, the VAT is not payable upfront but is spread out throughout the term of the arrangement as the monthly leasing attract the VAT instead of the initial purchase price of the tools.
In a comparable way to a finance lease a hire purchase agreement is secured against the equipment. Commonly the complete VAT is payable upfront together with a little down payment against the preliminary expense of the tools. The balance of the amount owed is then dispersed across the period of the contract which is usually 3 to 5 years.
This is where lenders take a residual value in the machinery. This can be suitable for big purchases and means that you are not financing the entire price of the machinery. This provides tax advantages and is ideal if ‘off balance sheet’ funding is what you are looking for. The leasings are based on only part of the purchase price and as such could supply superb money circulation benefits as rentals are lessened and the VAT is charged on regular monthly leasings rather than on the purchase cost of the devices.
How it works – Asset Refinance
If you own assets in your company they can be used as security to raise capital for your business. This can be used as deposits on new asset finance agreements or as extra working capital. An asset refinance firm will normally look to lend 70 % of the market value against any possessions that the business possesses outright.
Asset Finance Can Reduce the Costs Within Your Business
Numerous businesses remain reluctant to buy the devices they require in order to be successful. They really feel that new tools or vehicles are too costly or they do not have the self-confidence to broaden their business.
If they do not have the best devices they may be missing out on out on chances to expand and drive effectiveness within the business. In most industries of the economic climate technological developments are driving effectiveness, decreasing costs and enhancing quality so it is crucial for a lot of companies to remain competitive and invest their own businesses.
The finance is structured in a manner that satisfies your cash flow demands and enables you to broaden with peace of mind
Please act sooner rather than later, it is far easier for us to approach them on your behalf than wait for them to visit you, they won't go away.
HMRC time to pay arrangements
Falling behind on payments to HMRC is easy to do, with one of the most common reasons being a bad debt or unexpected expenditure having an immediate effect on business cash flow. In order to compensate for this and continue trading, essential payments such as suppliers, wages, rent and utilities are often prioritised over payments to HMRC. If not repaid quickly this situation can easily spiral out of control and become unmanageable.
What is a Time to Pay Arrangement?
The Time to Pay arrangement is a government initiative implemented in 2008 in an attempt to combat the effects of the recession. It works by allowing struggling businesses to repay their outstanding PAYE/ NI or VAT liabilities in instalments, rather than in one go. Usually Time to Pay arrangements last either 6 or 12 months, although they can last longer if there is a realistic prospect that the debt will be repaid eventually.
What are the advantages of a Time to Pay Arrangement?
The cost of your liabilities will be spread out over a period of time rather than all at once. This will improve cash flow and ensure your business has money to pay rent, wages and suppliers.
Opting for a Time to Pay arrangement will demonstrate a willingness to repay liabilities and help your business remain on good terms with HMRC.
Proactively seeking time to pay will decrease the likelihood of HMRC taking enforcement action against your business.
The process of a Time to Pay Arrangement
Is a Time to Pay arrangement right for me?
What if HMRC refuse to accept my proposal?
What if I’m nearing the end of a Time to Pay arrangements and have missed some instalments?
The Business Board offer a fast and efficient service with nationwide coverage from a network of regional offices, meaning a free consultation can be arranged at a time and location most convenient to you.
If you think a Time to Pay arrangement may be right for your business, get in touch today to arrange a free confidential consultation with no obligation.
Job satisfaction, remuneration, overall package are taken as read, but we specialise in REAL engagement programs to ensure all the team are working in the same direction, together as one.
We can help identify and address challenging employees and situations.
With the various areas of legislation to understand and associated decisions to make, we appreciate this can be a daunting and sometimes troublesome aspect for any business. At The Business Board, we offer specialist HR services to ensure you are not only making the right decisions to impact your employees and your business, but also making sure you are compliant with the various laws and best practice.
Our network of HR Consultants understand the industry intrinsically and prioritise taking the time to understand you and your business, in order to advise you on the most relevant matters and best practice for your company.
This is a huge area which changes continuously. Businesses that employ staff need a raft of HR-related documents to ensure compliance with the latest and ever-changing legislation. You’ll need advice on employment documents ranging from advertising and recruitment throughout the relationship with your employees, to termination of employment for any reason. Whether you need employment contracts (full-time, part-time, fixed term), staff handbooks, individual polices and procedures, intellectual property, confidentiality issues and restrictive covenants or compromise agreements, we can help you to get it right and avoid potentially very expensive and unforeseen pitfalls.
HR support and training
HR professionals are busy people but knowing the A to Z of employment law, as well as keeping up with all the changes in legislation, is impossible. Our employment consultants aim to support your HR professionals, helping you to improve the effectiveness of HR within your organisation and to avoid costly mistakes. Our advice is employer focused - you choose the level of support, whether you want ad hoc advice or regular updates and our employment law solicitors will provide practical solutions at our offices or on your premises.
If you have no HR department or if you believe your HR department or managers would benefit from some support or employment law training, we can offer this on an individual or group basis, at your premises or ours.
Our legal consultants are pleased to offer advice and assistance on all aspects of dispute resolution, whether negotiating, mediating, bringing or defending Court claims including injunctive relief and all types of claims dealt with by the Employment Tribunals.
These can include disputes where employment is ongoing (bullying, deductions from wages, unpaid bonuses or commissions, discrimination) or claims following termination of employment alleging unfairness or discrimination. We also have considerable experience in advising on and enforcement of post-termination restrictions and/or breaches of them.
The overriding aim of our HR team is to resolve disputes quickly, cost effectively and in line with our clients' commercial objectives. This is why we offer pre-litigation negotiations and alternative dispute resolution (ADR) such as mediation. We have a fully trained and accredited mediator within our team, however, if litigation is unavoidable the members of our team are well known for their focus and tenacity. We are also committed to delivering a commercial service where transparency of costs is achieved and maintained.
Dismissals - fair and unfair
The subject of dismissal is a fraught one, whether in respect of redundancies, dismissals for one of the other fair reasons or where a claim is made for unfair or wrongful dismissal. Whether you are trying to implement a fair dismissal process or feel you are the victim of an unfair one, get in touch with our employment law solicitors - we’ll offer advice, support and assistance.
Equality and discrimination
The new Equality Act now covers such matters as discrimination and equality including equal pay. Our employment law team can assist and advise on all aspects of this area of the law whether it relates to age, sex, marriage, sexual orientation, disability, gender reassignment, religion or philosophical belief or race or ethnic group.
Everyone wants to maximise the potential worth of their business.
However, It is fair to say that your company is still only worth whatever a potential acquirer is prepared to pay for it.
After a career of running your own business It is often good practise to ensure your it is not dependant on you being there.
It is never too early to start discussion's on the most appropriate exit strategy and to plan ahead. Forward planning will help you maximise your potential from a sale and enable you to exit your business. We have a number of companies continually looking for opportunities. One of our team would happily discuss your options and assist in compiling an exit strategy.