Tag: cashflow

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Business tips Cash Finance Function Tax Uncategorized

More money for your business – tax savings during covid 19

More money for your business than you know

Even with a little glowing light at the end this unimaginably long tunnel, it does feel like for 2021, things just managed to get worse. But we’re not here to spread doom and gloom. We want to bring hope and open your eyes to options that until now you might not have considered for your business.

More options than you realise.

You’re probably feeling like you’ve exhausted all of the support, funding and loans available to you. However, as Accountants and Advisors we have a duty to ensure our clients leave no stone unturned in these remarkable conditions we find ourselves in. And there are ways, many ways.

As expected, we have seen the government extend initiatives, pumping more money into the pot. Money to give businesses and individuals the necessary support to try and survive. But government support and loans are not the only options for businesses right now.


Cashflow from Tax Advice & Reliefs

We highlighted it back in March but still tax advice seems to be getting missed out of the opportunities. 

Now is the time to consider tax reliefs and advice for your business

And there’s a lot to consider – see the image and summary below:


Tax is a very real cost to businesses. To fail to reduce it, is to miss out on money that should
be working for you, in your business. Having an awareness of the tax consequences of grants and loans when using them is vital. You don’t want to walk into unexpected tax charges. But with the right advice you can identify major cash injections.


If you’re a business owner reading this, valuable tax savings could help counteract some of the damage you and your business are feeling right now. There are essential and popular advisory opportunities that can get money back in a relatively short timeframe with HMRC.


And tax savings don’t need to be paid back. No debt hanging over your head. Just money back
into your business. Take R&D Tax Relief as an example, you could claim up to 33%
of the costs incurred on activities that are considered eligible. This money
can be used for absolutely anything.

Don’t leave any stone unturned

Work with us, or your Accountants and Advisers, and do not leave any stone unturned. Don’t miss out on any opportunity for money back into your business when you’ve come this far.

Take a look at the image and summary, see if anything flags up for you. If they do, let’s talk.

We can help get you through this. 

 

1. Book a call with me: https://debbiebaileymoney.co.uk//contact-us/ 

2. Download our free guide on “7 mistakes to avoid – to stop your fitness business running out of cash” https://debbiebaileymoney.co.uk//fitness-ebook/ 

3. Connect with me on social media: 

Categories
Business tips Cash Finance Function Gym

Zero to Hero

From Zero To Hero Event

Learn how to be wildly profitable with ease even if you’re a newbie! We help you to go from zero to hero!

What you’ll get from this event

For attending From Zero To Hero live online

This is an unprecedented event for the health & wellness industry, with 13 top expert speakers offering you leadership & advice on marketing, sales & mindset to help lead you into the future – all on one single platform, for 1 entire day, 100% FREE!

This online event is perfect for anyone who’s a fitness, health and wellness professional, gym, studio or health club owner – with a brand new or existing business.

Book on here: Zero to Hero event

The presentations

Landing corporate clients for your health & wellness business

What cashflow means for fitness businesses

You’ll learn why cashflow is important for your business growth and survival. By the end of the presentation, Debbie will teach you how to create a cashflow forecast for your business.

3 ways to use client feedback to write copy that sells

In a jam-packed industry like health and fitness, it can be hard to stand out. You’ll learn from Louise how to ask for glowing client feedback and use that to craft a killer brand message and turn that into a persuasive copy that sells.

How to get stuff done and reduce stress

You’ll learn from Isi tips and strategies to get more done in less time. Her advice revolves around overcoming procrastination and staying focussed for longer. So you’ll start to see what it feels like to get more done and be less stressed and less exhausted after a long working day.

Building professional networks online and at events

Shamshad will help you to get a better understanding of different types of networking events and how to prepare for these so they use your time effectively. By the end of her training session, you’ll know how to write an elevator pitch for your business and build meaningful networks.

Automation made simple

You’ll learn a lot from Yvonne about what is possible by using Zapier to automate your business. By using templates and training videos you can have a go at implementing simple steps to save time. You’ll know how to map out your workflow.

Amplify your social media

From Minessa you’ll learn 3 Facebook and social media tactics that won’t take much time but will amplify your voice online so that you can do less and make more. You’ll be able to create content that attracts your tribe and clients.

Coping with toxic stress

You’ll learn from Jaque how to navigate through high stress times, just like this Covid situation and be able overcome these mentally exhausting problems. You’ll be able to embrace self-empowerment, which is pretty much needed.

How to leverage your expertise and raise your profile by getting in the media in three easy steps

Laura will share with you PR 101: going back to basics and busting a few well-known PR myths. You’ll learn about how to find opportunities so that you’re able to increase visibility and share your message on a larger scale. She’ll also share her top 3 tips on how to get yourself featured in the press.

How to earn more, without doing more

Gemma will show how a website can earn you money by implementing some simple steps. You’ll learn 5 proven methods of increasing conversions through your website and she’ll also share best practices to help get you that ROI from your time or money invested in the website.

How to influence people with high-quality visuals and effective positioning

You’ll learn about how design can help you with building authority and what’s the importance of positioning. Mehar will give you actionable steps, so you’ll know how to influence people with your visuals on social media. She’ll help you with effective postitioning on Instagram.

Increase your revenue by adding structure & consistency to your social media

You’ll learn from Janine about the tools you can use to increase your online presence and revenue, by adding structure and consistency to your social media platforms.

How video can elevate your brand or startup

Mark will take you through how video is an essential part of many brands marketing strategy today and how it should be a part of yours. You’ll learn about how you can create for your business and how to execute a plan for a video. You’ll have a greater understanding of video, the kinds of video you can have made for your business and how it greatly benefit your business.

NO this is NOT some big pitch fest online seminar. This is in-fact a LIVE training event with 13 TOP EXPERTS!

And you can have access to it from the comfort of your own home!

Meaning…

NO long hours travelling & NO spending money on hotels

You’ve just got to show up at your computer or smart device ready to grow & learn!

This will be different from all other online events you’ve ever attended so far! No FLUFF, no HYPE just straight to the point strategies around marketing, sales and mindset. So, it’s perfect for anyone who’s a fitness, health and wellness professional, gym, studio or health club owner – with a brand new or existing business!

Who is this event for?

  • health and wellness professionals who truly want to help people to live happier and healthier lives
  • fitness professionals who desire to make a much bigger impact
  • studios, gyms and health clubs who have and are struggling because of the pandemic
  • trainers, coaches and instructors who have and are struggling to get clients consistently
  • sports recreational businesses who want a structure and guidance
  • those who have and are struggling to get their message out to the people who really need help
  • those who are passionate about helping others, making a change, but have secretly been struggling to build a successful health, fitness or wellness business

How much will “not attending” cost?

Think about the average monthly income of a personal trainer over the past 12 months…

Let’s say their average income was £1,500 and that’s generous because the average salary of a personal trainer in the UK is £19,601…

So their goal is £10,000 per month through their business because they don’t want to be broke all the time…

That means they have a shortfall of £8,500 every single month…

So, basically, they lose £8,500 every single month because they don’t know how to get from zero to hero…

And that’s a staggering £102,000 opportunity cost per year…

Hosted by Viktoria Thorbjorn

The speakers

  • Debbie Hancock, Southbourne Accountancy
  • Miriam Gilbert, Founder & CEO ImpactfulnessLab
  • Louise Shanahan , Health Copywriter and Director, The Copy Prescription
  • Shamshad Walker , Marketing Consultant
  • Isi Dixon , Productivity Expert
  • Gemma Murphy , Website Architect
  • Janine Edwards , Founder of Media Pimps Marketing & PR
  • Mehar Lebana , Graphic Designer
  • Yvonne Hemmings , Automation Made Simple
  • Minessa Konecky , Direct To Success
  • Jaque Hanson , Bee Present Wellness
  • Laura Perkes , PR with Perkes
  • Mark Weathers , Mark Weathers Creative

free online event

Discover how to be wildly profitable with ease even if you’re a newbie during the pandemic!

Get your online event ticket 100% FREE

This is truly a once in a lifetime opportunity!

Claim your FREE ticket, valued at £1,999. Hurry – before there are no seats left!

So why do we give away this for free?

Obviously, we won’t get rich by this, so here’s the real reason;

2020 has been a horrible year for everyone and our industry got hit by the covid truck and this has caused severe damage.

It is kind of a ‘hit and run’ case.

And this industry is the one responsible for peoples’ health and wellbeing before the NHS jumps in.

We’re the first line of defence or prevention if you like.

If we fall, others will follow us. And we can’t afford that…

From here, you have 2 options

Either do nothing and continue to struggle and fear that covid will further affect your business and your financial situation…

Or make a conscious decision and invest your time in the ‘from Zero to Hero’ live online event and follow a different path.

Nothing changes if YOU don’t change. It’s up to YOU and on YOU.

Book on here: Zero to Hero event

2. Download our free guide on “7 mistakes to avoid – to stop your fitness business running out of cash” https://debbiebaileymoney.co.uk//fitness-ebook/ 

3. Book onto the free event: Book here

4. Connect with me on social media: 

Categories
Business tips Cash Finance Function

Understanding Statement of Cash flow

Understanding statement of cash flow

Revenue is vanity, profits are sanity, but cash is king – or so the saying goes. That’s because cash is what customers pay in, and what shareholders get as a dividend.  So, you must want to know more about the impact of your business activities on your cash flow?  

Understanding Your Statement of Cash Flows 

The cash flow statement shows how your business has generated and used cash (and cash equivalents) within a specific time period. 

For each of the reporting categories, receipts and payments are listed (money in and money out), and this is reported as a net increase or decrease in cash held for that category. 

The net change in all categories is added to the amount of cash at the start of the reporting period to arrive at the current cash at the end of the reporting period. 

It is another important financial statement to understand alongside with the Profit and Loss statement and the Balance sheet. These three reports provide a good understanding of the financial position of your business. 

How Does it Work? 

The cash flow statement integrates the information provided by the profit and loss statement and the balance sheet into a current cash position. The cash flow statement is reported on a cash basis, while your other financial statements are usually reported on an accrual basis. Accruals basis being when the income was earned or expense incurred, not when the cash entered or left your business. 

Report Categories 

The statement of cash flows is organised into three sections: 

  1. Operating cash flows– Day to day operations of the business. All business income, expenses, assets and liabilities (except for those assets and liabilities reported in investing and financing activities). 

  1. Investing cash flows – the purchase and sale of long-term investments, property, plant and equipment as well as deposits paid to suppliers or received from customers and dividends received. 

  1. Financing cash flows – for example, issuing and repurchase of shares and bonds and payment of company dividends if applicable. Loans are also included in financing activities. 

Why is it Useful? 

The statement of cash flows gives you a valuable measure of cash flow in and out of the business over a given period. It shows the ability of the business to pay its bills and fund its operating activities. This gives you a picture of overall performance. 

It also shows the relationships between assets, liabilities, equity and cash accounts. It shows changes and movements over time, whereas the balance sheet and profit and loss reports show account values at a single point in time. 

The statement of cash flows gives you vital information on your business. 

  1. How strong is your cash position? 
  2. What is the long-term outlook for your business? 
  3. What activities generate the most cash flow? 
  4. What is the relationship between your net income and your operating activities? 

A useful metric is free cash flow, this is simply operating cash flow minus capital expenditure such as building and equipment. 

Cash flow from operations – capital expenditures = free cash flow. 

It shows what’s left over from operating cash after expansion and upkeep costs. A positive balance implies the business has cash left over to give back to shareholders, pay off debts or invest in R&D or acquiring other companies. 

It can be useful to ascertain if a company’s free cash flow is, and has consistently been, greater than the dividend paid. That’s another figure you will be able to find on the cash flow statement, under financing cash flows. 

If your business is growing, you’re looking to expand your business, or you have a tremendous amount of investments, chances are that calculating your free cash flow can be beneficial. 

If you’d like to understand your financial statements, cash position and future outlook in more depth, arrange an advisory session today. We’ll help you identify and appreciate the strengths of your business. 

 

1. Book a call with me: https://debbiebaileymoney.co.uk//contact-us/

2. Download our free guide on “7 mistakes to avoid – to stop your fitness business running out of cash” https://debbiebaileymoney.co.uk//fitness-ebook/

3. Download our free Coronavirus support guide: https://debbiebaileymoney.co.uk//coronavirussupport/

4. Connect with me on social media:

https://www.linkedin.com/in/southbourneaccountancy/

https://www.facebook.com/debbie.hancockSA