Entries by ecovis_adm1n_17

DCA Q&A – HOW DO I TREAT A BAD DEBT FOR TAX?

Q: I’m running a small business as a sole trader and in the midst of doing my accounts for 2011, I stumbled across a problem: bad debts. One or two of my earliest clients simply didn’t pay up, even though I chased them steadily. The amounts involved weren’t huge, so it wasn’t worth my while […]

DEADLINE DAY

Now that you’re back in the swing of things following the August holidays, you and your business partners doubtless want to get your shoulder to the wheel – to make winning new business and servicing your clients your main focus. The last thing you want to do is spend hours going through receipts from 2011. […]

DCA Q&A – HOW SHOULD I APPROACH THE LEASE?

Q: I’m seriously considering shutting down my business. It’s bumping along with modest profit, but I don’t see the market really improving and I don’t enjoy the work anymore. I’m also quite confident that I’ll get some decent job offers if and when I leave. The company itself doesn’t really have any debts – the […]

FINDING A BUYER

Even when you’ve determined that your business is in fact exit-able and attractive to the right buyer, that still leaves the challenge of finding someone new to take the business on. For some people, anyone who’s willing to pay enough is good enough – and achieving value for your years of hard work is an […]

DCA Q&A: SHOULD I RUN A MILE FROM THIS SALE?

Q: I’m in the process of taking over the lease of a restaurant. It’s a great property in an ideal location: without wanting to slag anyone off, I think it’s only failing because of the owner’s incompetence. Things have gotten a bit complicated, however.   Firstly, the lessee’s agent has been pressuring me to give […]

IS YOUR BUSINESS EXIT-ABLE?

Even if you haven’t approached your business with a well-defined exit strategy in mind, exiting the business is something that inevitably happens. For an unlucky few, it’s the business going bust or death. For others, it’s retirement, and perhaps passing responsibility on to a family member. For the phenomenally successful businesses, there is a stock […]

AFTER THE DEAL

Attracting, convincing, and carving out a mutually acceptable agreement with an outside investor is a slog, as we’ve mentioned in previous weeks. However, after you’ve both signed off the agreement, it’s time to knuckle down and start making money.   Unfortunately, disputes between investors and entrepreneurs are all too common, and can derail otherwise-promising business. […]

SHOULD WE PERSONALLY BILL FOR A BUSINESS DEBT?

Q: A client who owes us money going back some time now is going under. In fact, he’s planning to liquidate the company straight away, burning some other creditors, but says he doesn’t plan to do this with us. Instead, he’s asked us to write off the debt to the company, invoice him personally and […]

NEGOTIATING WITH INVESTORS

Bullish entrepreneurs often think their dreams have come true because, after a long search, they’ve found an investor who wants to put money in their firm. The optimism is understandable, but it can push business owners into accepting the wrong deal too quickly. And getting into bed with a bad investor, or simply not structuring […]

CAN I SET UP DIRECT DEBITS?

Q: I’m running a small business as a partnership, and things are going fairly well, but cash-flow is a killer. Even though we supply services on a weekly or monthly basis to clients, payment is erratic and I’m looking at ways to keep it in line. Can I get my regular clients onto direct debits, […]