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Business Advice

When SIPPs can bite!

Small to medium businesses owners who need premises are often advised to use their pension money to buy the premises. Then their business pays rent on commercial terms for the premises to their pension scheme, which in turn pays off the commercial mortgage. Given average luck, the business owner should live happily ever after, as at retirement, they can sell…

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Business Loans and Protection Insurance

Almost all businesses, large or small, have borrowings from a bank in order to trade. For many small businesses these will take the form of an overdraft or a specific loan and some form of life  insurance will have been advised with the loan. It is in the interests of the bank and the borrower to cover the loan in…

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Financial Life Consultancy for Musicians

Unusually for an IFA, Bankfield project-manages businesses where it sees a promising niche and the British Centre for Music and Enterprise, (BCME, www.thebcme.com), is one such project, the brainchild of Ajay Naik, drummer, Bankfield  IFA and CEO of BCME. Within Bankfield we have quite a spread of music industry exposure, with Ajay having gone through formal music education, being in…

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Baby Steps in Investing

Following on from my last article, “Financial Guidance for Young Adults”, I have been asked how to get into investing, as a young adult. This is not a simple “do this” or “do that” as there are quite a few variables to take into account. First variables; are you saving or investing? Saving suggests a relatively short period when the…

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Keeping the customer satisfied

One of my pet hates is businesses making it more difficult for the customer to transact with them or imposing artificial barriers to completing what you need to do and move on. I only go into the Post Office in the centre of Leicester when I have to and this sign is only one of the reasons! It would be…

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Sales to cash – collecting your debtors

A previous article talked about cash flow and the need for a cash flow forecast; usually the cash flow forecast identifies an issue with the speed of collection of your sales debtors. Some people and businesses have a real issue with paying their bills on time and some will only do so when cornered like a rat in a trap….

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Cash flow, the lifeblood of any business

It has been a strange week, bookended by two businesses having the same basic problem, but for very different reasons. The problem is they are both starting to run short of cash to run their businesses, but one is very profitable and the other has been lossmaking for some time. For a lossmaking business, running out of cash is almost…

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Business Leadership Principles

One of the websites I like visiting occasionally is www.renegadeeconomist.com, which, as you might expect is concerned with economics, but is concentrated on land tax and money reform. As part of its remit is a review of the press on business issues, wealth creation and politics; sometimes it turns up articles that have more than a passing interest to me….

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Advantages of a Limited Company Structure

As IFAs we are often asked about how to set up a new business and the more astute ask whether they should be incorporated. My usual answer is set up a limited company, unless you know of a good reason not to. The basic business structures are a sole trader, a partnership or some form of limited company. Recently, we…

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New Starters – Top 10 tips for start-up businesses

I have just had a fascinating meeting this morning with the founder and CEO of a start-up company, who has both intrigued me with the possibilities and scared me with the potential downside risks of this new venture. I see my job as an adviser is to undertake the task we have been set, raise additional capital, but also reduce…

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