Understanding the difference between turnover and profit is a key part of managing any successful business. While the two terms sound similar, they refer to very different financial metrics. We’ll clearly explain the distinction between turnover and profit, including definitions and calculations. We’ll also look at why both metrics matter for businesses in the UK…
You want to get into the real estate game and start your own business, huh? With the UK property market valued at over £7 trillion, it’s no wonder more and more people are looking to grab a slice of the pie. But launching a successful real estate venture takes more than just having your name…
As a UK business owner, issuing professional invoices is a key part of getting paid for goods or services provided. But creating an invoice from scratch can seem daunting if you’ve never done it before! Not to worry, this handy guide breaks down the invoice process step-by-step to take the stress out of billing. Let’s…
If you’re considering leasing equipment or vehicles for your business, you’ve likely come across the terms ‘finance lease’ and ‘operating lease.’ While both involve leasing an asset rather than purchasing it outright, a finance lease differs from an operating lease in important ways. Explore what a finance lease is, how it works, and what distinguishes…
If you’re involved in the financial side of a business, you’ve probably come across the term “revenue” a lot. But what exactly does it mean and why does it matter? Simply put, revenue is the money a company brings in from business activities and sales. But let’s dig into the specifics! We’ll break down the…
Starting and running a successful business is no easy feat. According to the UK Office for National Statistics, only around half of new businesses survive past their fifth year. So before diving into entrepreneurship, it’s important to carefully think through your business model. But what exactly is a business model? What business model type is…
Starting and growing a business in the UK can be exciting yet challenging. With over 5.5 million small and medium enterprises (SMEs) in the UK, competition is fierce. In 2021 alone, over 772,000 businesses were started in the UK. While entrepreneurship can provide financial freedom and personal fulfilment, about 50% of new businesses fail within…
Starting and running a business in the UK can be an exciting yet challenging endeavour. One of the key metrics you’ll need to track is your business turnover. But what exactly does turnover mean and why does it matter? Let’s take a closer look at turnover and how it impacts UK businesses. So what is…
The latest business survey results from the UK Office for National Statistics paint an interesting picture of how companies are faring this summer. There’s a mix of continuing challenges but also some signs of resilience. Let’s dive into the key findings. Business insights and impact on the UK economy Business insights and impact on the…
So you’ve got a great business idea and you’re ready to make it happen. One of the first steps is choosing and registering a name for your new start-up business in the UK. This may seem simple, but your business name is super important! It can influence how customers perceive your brand and it needs…