You do the maths!

I expect you thought the days of ruling with a big stick were gone? Surely we are now living in a free loving business world where we all consider each others success and profitability? After all, common sense dictates that if our suppliers and customers thrive, then so do we….right?

Sorry, time to wake up, the alarm clock has just gone off.

Time to face the School Bully! Yes our good friend, the bully, he’s now holding the purse strings for Bigcorp. It’s OK though, their cash flow is fantastic. You diligently checked them out for credit, whoa, what a rating!  A number bigger than the value of houses in a small town. Sound as a proverbial pound!

What’s that? They will pay you in 60 days….. Sharp intake of breath, but it’s a good contact, you’ve tendered long & hard for this. Settlement discount for payment within 7 days…GREAT…. no hang on, that percent would be all your margin! OK, let’s cope with 60 days to secure the deal and get that illusive turnover.

Hey, now who said anything about 60 days from the end of the month? What do you mean we’ve now missed the payment run for the next 4 weeks? ……..

In just a little longer than it takes them to drink their cafetiere of morning coffee, MP’s could draft a bill forcing big corporations to make full payment to SME’s within 7 days or, heaven forbid, on delivery! How fast could our valiant wheels of SME industry spin then? The possibilities for growth of the UK would be endless.

Just a thought!

Workplace Pensions Reform 2012 – Keep Calm & Carry On

The media is full of articles relating to the Workplace Pension reforms. Lord, don’t&the media love to make it sound like some scary bear trap there to catch you out?!

Changes like this can seem daunting to SME’s, they really don’t need to be!

We’ve put together a few notes to help you understand what all this means to you, the employer.

  • What is this “Staging Date” term that is being bandied about? The Staging Date is the date that automatic enrolment becomes you, the employers, legal duty. This date will be based on the number of employees you have as at 1st April 2012. As an example, if you have fewer than 50 employees on 1st April 2012, your staging date will not be until June 2015. To see the Staging Date timetable please go to&
  • Who needs to be automatically enrolled in a pension scheme? Your workers aged between 22 and state pension age, working in the UK, earning above £7475* will automatically qualify for enrolment into your pension scheme.&
  • Will my payroll software still work? It is expected that the major providers of payroll software will offer at least what is known as Core Functionality inside their payroll package. This would check the eligibility of employees, calculate their entry date, calculate and make the deductions automatically and process refunds for workers that may opt out. Some software providers will additionally offer greater functionality seeing the process through to the contributions being paid to your chosen pension scheme.
  • What will the scheme cost me as an employer? As an employer you will be expected to contribute 3% of the employees gross salary. The employee will have to contribute a minimum of 5% of their gross pay making the overall contribution to their pension fund 

We think that is enough information &to absorb for now, we hope you have found it useful. It goes without saying we will be back with more information on this and other relevant &topics soon, so keep your eye on the blog!

If you want more information on this or any other subject, please don’t hesitate to contact us! In the mean time SME’s



Who’s watching your back?

It’s not easy being a business owner. Out there, going it alone…… who’s watching your back?
There will be days when everything goes smoothly, others where you feel a little panicked about the management of your business. Some days just an ear to bounce an idea off is all that’s required. With the freedom of being your own boss, there comes the full responsibility over every aspect of your business.

Having someone to turn to when you’re feeling out on a limb is a must. Make sure your chosen professional teams be they accountants, consultants or legal experts, give you the support that both you and your business deserve.

Don’t be afraid to use their services……remember, it’s what your paying for!