Has The UK Averted A Debt Crisis?
Financially, the pandemic was very much a tale of two groups. One group made savings and/or paid down debt. The other group, at best, managed to get by, at worst used up savings and/or took on debt. Some of the latter needed the help of the COVID19-support measures. These are now coming to an end […]
What Type Of Business Should You Be?
There are all kinds of business models, but only three basic types of businesses. These are sole traders, partnership and limited companies. Each one has its pros and cons. Here’s a quick guide to what you need to know. Sole traders As a sole trader, you literally are your business and your business literally is […]
How To Get Rid of Your (Post-Lockdown) Debt
Hopefully, spring 2021 will see the arrival of the post-pandemic “new normal” so many people have been craving for so long. Part of this new normal will, however, mean the withdrawal of COVID19-related financial support. It will also mean tackling (post-lockdown) debt. Here are some tips to help. Establish a realistic baseline Your baseline is […]
How SMEs Can Tackle Business Debt
It isn’t just consumers who have been financially damaged by COVID19. Many businesses are barely scraping by. Some have been forced to rely on financing and may now have (a lot) more debt than they’d like. If this sounds familiar, then here are some tips on how to tackle post-pandemic business debt. Get your financial […]
Dealing With Difficult Months
Businesses are often cyclical. In principle, this shouldn’t be a problem, because the money you make in the “good” months should cover you for the “bad” months and you can use the downtime to get on with “behind-the-scenes” work. That’s all fine in theory, but in practice, you may still find yourself running into times […]
Getting Your Business Out of Debt
Debt of one sort or another is almost a fact of life for young businesses. Many businesses need some level of funding to get of the ground and that money has to come from somewhere. Even if the founders provide the initial funds themselves, then it is still, for all practical purposes, debt, since the […]