View Determining your IR35 status

Determining your IR35 status

As a contractor, freelancer or small business, it’s important to have an awareness and understanding of IR35 and how it’s determined to ensure that you are paying the correct amount of Tax and National Insurance. How does IR35 impact me? Your IR35 status (which can vary from contract to contract) determines your tax position with…

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View Why you really need a business mentor

Why you really need a business mentor

Industry analysts, consultants, employees, and good networking contacts can share their expert knowledge with you regarding particular situations and needs you may encounter. However, only a business mentor can truly share wisdom with you on an ongoing basis, and in a way that can have a direct, positive impact on the growth of your business…

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View Do you have a conflict of interest?

Do you have a conflict of interest?

Directors can be allowed to act even if they have a conflict of interest, but the correct procedures must be followed. It’s important to get this right, as transactions can be overturned and directors held personally liable. So what do you need to know about conflicts of interest? Why distinguish between interests? Ideally, a director’s…

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View 5 effective credit control strategies to make your sales more profitable

5 effective credit control strategies to make your sales more profitable

If you’re waiting until a payment is late to begin implementing credit control strategies, you are waiting too long. Good credit control should begin as soon as an order is placed, to help you avoid the risk of late payment and bad debt. The most critical period in the credit control process begins before the…

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View Why every business owner needs an exit strategy

Why every business owner needs an exit strategy

When you picture yourself in a room or building, having multiple available exits is not just a matter of convenience, it’s a matter of safety. The same applies to owning and running a business: establishing an exit strategy, a plan for eventually leaving and/or selling the business, is part of smart entrepreneurship, and lends a sense…

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View The impact advisors can have on your business

The impact advisors can have on your business

Advisors empower entrepreneurs by providing perspective. Effective advisors can help small business owners evaluate ideas and unlock the aspirations they have for the business. The key is to find someone that can challenge your thinking, share the actions you’ve taken and be flexible about how the relationship evolves. Here are EFM Growth’s top tips around…

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