Telling the truth about SME life today

How To Resign As A Director Of A Company

Director resignation

If you’ve decided to resign from the position of director of a company you will need to review the director’s contract from the company that you work with to check any specific notice or processes to follow when handing in your resignation. Steps will generally include; It is giving formal written notice of your plans […]

What is a Shareholders Agreement?

Shareholders agreement

A shareholders agreement is a legally binding contract between a company’s shareholders that sets out their rights and obligations within the partnership. This document governs the internal operations and shareholding relationships within a privately held corporation to align key issues upfront. It is recommended that all companies formed via a partnership, that have founders, investors […]

What Is A Control Account?

What is a control account

A control account is used in bookkeeping and accounting to efficiently consolidate balances for summary and reporting purposes. They are a core accounting tool that aids ledger integrity and financial statement accuracy. The idea is to use a control account to ensure that financial statements are accurate by providing an efficient and accurate way to […]

Business vs Company

Business vs company

For many, the terms “business” and “company” are used interchangeably in everyday conversation. This is understandable – both have many similarities, such as their commercial activities that provide goods and services, and both can exist at the same time. But as far as legal and operational structures, distinctions between the two are worth knowing if […]

Out Of Office Business Trip – Travelling for Business

Out of Office While Travelling for Business Examples

Going out of the office on a business trip is common for many professionals. Being on the road means you’ll be travelling for business, away from your usual work responsibilities and unable to respond as quickly to emails and calls. Setting up an out-of-office message is important to let people know you’re away and provide […]

Advantages & Disadvantages Of Swot Analysis

advantages and disadvantages of swot analysis

Organisations have been using this popular framework to effectively evaluate a company’s strengths, weaknesses, opportunities and threats. Like any other analytical framework though, SWOT also has its limitations too. That’s why it’s important to thoroughly understand it before you use it for strategic planning and informed decision-making. SWOT analysis is one of the most widely […]

Pre-Emptive Rights – What are they and what do they mean for start-ups

pre emptive rights

Pre-emptive rights give some shareholders or equity holders the opportunity to purchase a number of newly issued shares for a limited period before they are offered externally to potential new investors. When a start-up seeks to raise further expansion capital through issuing fresh shares, the current owners can maintain their proportional stake and influence in […]

What Is The Difference Between Internal & External Customers?

external customer

External customers exist outside of your business. They can either be individuals, or they can be entire organisations, that purchase goods or services from your organisation. Many businesses are set up with mainly the external customer experience in mind, which is fair enough. But when the question of internal and external customers comes up, there’s […]

What Are The Advantages Of Being A Sole Trader?

what is a sole trader

Becoming a sole trader can be an attractive proposition for many people looking to start their own business in the UK. As a sole trader, you get to be your own boss and retain full control over your business. You also get to keep all the profits! However, along with the pros there are some […]

Public Limited Company – Advantages and Disadvantages

The Advantages And Disadvantages Of Being A Public Limited Company

A public limited company’s advantages and disadvantages are numerous. The main advantage is access to more investors, through making their stocks public. Whilst even a layman in the stock exchange can tell this new method to raise capital is beneficial, there are more factors to consider. Around 4% of UK businesses become public limited companies, […]

What Is A ‘Limited Company’?

limited company meaning

Key Characteristics of a UK Limited Company Distinct Legal Business Identity Unlike sole traders directly representing their businesses, limited companies establish unique legal entities separate from their owners. This means limited companies can assume business liabilities without personal threat to owners’ assets like houses or investments. The company exists as a distinct body based on […]

Quantitative vs Qualitative Business Research

what is quantitative data in business

Business research is vital for companies of all sizes to make informed decisions, identify growth opportunities, and gain competitive insights. There are two main types of business research – quantitative and qualitative. Understanding the difference between quantitative and qualitative research, including their respective uses, benefits, and limitations, is crucial for business owners to leverage them […]