Keeping your cashflow looking healthy is an essential part in getting a new start-up business to a long-term sustainable position – but it can be more complicated than you think.
Traditional tradespeople have had a tough time of it in recent years; plumbers, electricians and builders have been hit by a turbulent economy, as well as falling under the scrutiny of HMRC on any unpaid tax.
It’s been a great year for CPA, and we’re already planning ahead to keep serving our customers’ needs well into 2014.
But first, what successes has 2013 brought our way?
For a start, it marked our 20th anniversary, and we’ll be celebrating 21 years in 2014, so whether you count your landmarks in full decades or the traditional ‘coming of age’ milestones, it’s still a time for celebration.
Of course, for our clients, it’s all about material success – and there’s plenty to celebrate here, too.
In the past week alone we’ve seen two long-running cases – each dating back to 2012 – brought to a satisfactory conclusion.
We also recently won a case at trial that had been ongoing for three years, showing that tenacity can eventually pay off, particularly when you know you’re on the right side of the law.
Since the start of November, we have opened more than 50 new cases, meaning our caseload is growing compared with last year, and looking strong as we move into 2014.
And the work is never done; each month brings with it new invoices and new overdue payments to chase, and at CPA we are already working on bringing cases to court in the new year.
Take all this together and you have a company that is not only going from strength to strength in its own right, but is continuing to work passionately to meet our clients’ needs.
We hope the Christmas period brings happy, healthy cashflow to all companies, big and small – but for those let down by their debtors as we move into the new year, CPA will be ready to chase for payment in 2014.
For many small business owners and sole traders – and even for some larger companies – invoicing is an unwelcome chore, even though it’s the part of the trading process that actually brings in the money.
Many of HSBC’s more debt-carrying customers were given cause for celebration this month with the announcement that the bank and its online counterpart, firstdirect, will no longer charge penalty fees on transactions that cannot be completed due to a lack of funds.
UK businesses have been told in no uncertain terms that they should view tightening their credit procedures as a priority, in light of the fact that late payments now account for more credit insurance claims than insolvency.
Small firms in the UK are being targeted for growth as part of a “wave of activity” announced on November 6th by business secretary Vince Cable.
Water companies adopt a broad-brush approach to dealing with unpaid customer debts, according to the industry’s representative body Water UK.
Syston-based Pukka Pies has seen its profits hit by an increase in ingredient costs, highlighting that it’s not only private households that are feeling the pinch of food price inflation over the past few years.
A company voluntary arrangement can often be seen as a red flag when deciding whether to do business with a particular organisation, particularly if doing business would involve extending any sort of line of credit to them.