VAT reverse charging fundamentally shifts the responsibility of VAT accounting from the seller to the buyer. Unlike traditional VAT transactions where sellers collect and pay VAT to HMRC, the buyer handles the VAT declaration instead. Consequently, this mechanism prevents VAT fraud by eliminating the risk of sellers disappearing with VAT payments owed to HMRC. Furthermore, it ensures compliance and streamlines transactions for certain sectors.

Reverse charging exists primarily to combat VAT fraud, particularly in high-risk industries such as construction and telecommunications. For example, unscrupulous sellers may collect VAT and fail to remit it to HMRC, leaving taxpayers at a loss. Additionally, this system ensures that VAT processes are cash-neutral for businesses, especially for cross-border transactions. This mechanism applies only to specific scenarios and not to all VAT transactions.

Firstly, reverse charging applies within the construction industry for VAT-registered contractors and subcontractors. Secondly, it is relevant for cross-border transactions involving goods and services between the UK and other countries. Moreover, specific commodities like telecom equipment and energy provisions fall under its scope. For example, if a UK business purchases services from a supplier in France, the buyer records and declares the VAT in their own accounts.

Altogether, VAT reverse charging simplifies cash flow for sellers, reduces errors, and strengthens fraud prevention efforts. However, there are challenges, especially for those unfamiliar with VAT rules. For example, non-VAT-registered businesses inadvertently exceeding the £90,000 turnover threshold may find themselves unexpectedly VAT-registered. Therefore, keeping accurate records is essential.

Using accounting software like Xero significantly eases the complexities of managing reverse charging. Xero’s features ensure accurate reporting and compliance. However, setting up systems correctly is critical to avoid mistakes. Moreover, consulting an accountant is advisable for businesses navigating these regulations.

VAT reverse charging minimizes fraud and enhances compliance by shifting responsibility from sellers to buyers. Therefore, businesses must stay informed and manage their transactions efficiently. To learn more about simplifying VAT and other financial processes, listen to the I Hate Numbers podcast today.

Tax treatment for limited companies plays a significant role in financial planning and compliance. Additionally, understanding the tax rules can help businesses optimise their finances while meeting their obligations. Basically, limited companies have unique responsibilities and opportunities compared to other business structures.

Firstly, limited companies are subject to corporation tax on their profits. Unlike sole traders, who pay income tax, this tax applies directly to the company's earnings. Currently, the corporation tax rate depends on the company’s profit level, albeit rates may vary due to legislative changes. Consequently, staying updated on tax rates is essential for accurate planning.

Another important aspect is claiming allowable expenses, which reduces taxable profits. For example, expenses like salaries, office costs, and professional fees can be deducted. However, only costs that are wholly and exclusively for business purposes qualify. Notwithstanding this, failure to correctly classify expenses could lead to complications.

Limited companies can distribute profits as dividends to shareholders. Evidently, dividends are taxed differently from salaries, with varying rates depending on income thresholds. Moreover, this method of payment can provide tax efficiency when combined with a director’s salary.

When turnover exceeds the VAT threshold, companies must register for VAT. Furthermore, businesses may reclaim VAT on allowable purchases. Equally, choosing the right VAT scheme is crucial for effective cash flow management.

Lastly, professional guidance ensures compliance and identifies opportunities for tax relief. Despite the complexity of tax rules, working with advisors helps companies navigate the landscape successfully.

Tax treatment for limited companies is undeniably vital for financial health and growth. Therefore, tune in to the I Hate Numbers podcast for deeper insights into managing taxes and boosting your business. Additionally, explore how tools like Xero and our resource guide can simplify your financial journey.

Cloud accounting is undeniably transforming the way businesses manage their finances. Whether you're running a small business or a large enterprise, this technology offers a smarter, more efficient way to stay on top of your financials. Accordingly, in this week's episode of the I Hate Numbers podcast, we explore the essential benefits of adopting cloud accounting.

Typically, cloud accounting operates on a subscription basis, making it more accessible and manageable for businesses of all sizes. Instead of large upfront costs, we can spread expenses more easily, ensuring better cash flow. Additionally, traditional systems often come with higher initial costs, including software licenses and hardware, which can burden companies. By contrast, cloud accounting ensures flexibility and predictability for ongoing financial commitments.

One of the key advantages of cloud-based systems is scalability. As businesses grow, their accounting needs change, and cloud solutions allow us to add features and users as required. Consequently, this makes it an ideal choice for companies looking to expand without being weighed down by outdated systems. Also, it empowers businesses to prepare for growth before they are too busy to implement new solutions.

Cloud accounting offers automation and integration with other business systems, such as payroll and inventory management. This reduces manual data entry and errors, saving time and resources. Moreover, it allows us to focus on value-added activities, leading to increased productivity. Furthermore, these systems are designed to handle multiple business functions simultaneously, ensuring smooth operations.

A significant benefit of cloud accounting is real-time financial reporting. Businesses can access up-to-date insights, allowing us to monitor cash flow and financial health effectively. Equally important, these systems enable us to manage our business finances from anywhere in the world, thanks to the flexibility of mobile access.

In conclusion, cloud accounting provides numerous advantages, including scalability, real-time reporting, and efficiency. It empowers us to monitor our financial health more effectively and make informed decisions for our businesses. Furthermore, we recommend exploring Xero for a user-friendly cloud accounting experience. For those looking to transition to cloud accounting, we have a helpful guide to assist you in your journey.

We encourage you to listen to the "I Hate Numbers" podcast for more insights into optimising your accounting practices.

As a business, you have to track and measure your performance in order to succeed. Developing Effective KPIs that work for your business (KPIs) is the way to go for all businesses.  A KPI allows you determine goals, set objectives and evaluate progress over time throughout your business. KPIs may differ based on industry, but there are some fundamental metrics that apply across the board.  In this week's I Hate Numbers podcast I discuss Effective KPIs that work for your business.

The key performance indicators discussed today should increase the understanding of effective KPIs. Having clarity on cash flow, gross margins, break-even, receivables collection period, inventory term, payables payment period, working capital cycle, customer lifetime value and conversion rates is important to the success of a business.

Having Effective KPIs that work for your business drives growth and efficiency. Knowing when target KPIs are being met as well as spotting potential problems early will ensure business owners are always ahead of the game. Therefore, every business owner should be familiar with these key indicators for increased success. If you would like to learn more about effective key performance indicators for your business make sure to subscribe to my I Hate Numbers podcast for regular advice and tips that are easy to understand and accessible to everyone from experts to beginners in business.  Subscribe now!

The I Hate Numbers podcast isn’t just about financial performance though.  Other topics are covered, for example, cash flow management, budgeting, forecasting, tax, accounts, and more! Every episode provides actionable advice from me, Business Finance coach, accountant and educator who explains that stuff in an easy and no-nonsense way.

Are you a small business owner, social enterprise or organisation passionate about change? Managing your finances can be a lot of work, trust me.  Finally, there’s software that makes keeping track of your cash flow and financial planning easier: Numbers Know How. It helps you stay organised so you can focus on what matters to you; the creative work and the impactful change. Take a step away from the chaos with fast setup & easy navigation – numbers just got real…for the better! Get organised & make sense of it all with Numbers Know How today!

Are you a business owner or manager looking for ways to measure the performance of your business? If so, then this video has all the answers you need! Watching it will teach you how to identify your business goals, choose the right metrics and collect and analyze data in order to accurately measure your business performance.

At its core, measuring performance is about making sure your business reaches its Northern Star, achieving your desired outcomes. To do this, you need to have a clear understanding of what your goals are and what success looks like. This means identifying both financial and non-financial goals such as increasing revenue, improving customer satisfaction, or gaining market share.

Once you have identified your goals, the next step is to select specific metrics that help measure progress towards them. These should be SMART goals, (Specific, Measurable, Achievable, Relevant and Time-bound). Example metrics include customer retention rate, churn rate or employee engagement scores.

Finally, collecting data on your chosen metrics,  furthermore analyzing that data is a big deal when measuring performance.

• This can involve tracking financial data such as sales figures or costs incurred over time
• Conducting surveys in order to assess customer satisfaction levels
• Analysing internal process data related to efficiency gains or productivity improvements.

So if you want tips on how businesses should measure performance effectively, don't miss out on this podcast. Listen to find out more.

The I Hate Numbers podcast isn’t just about financial performance though.  Other topics are covered, for example cash flow management, budgeting, forecasting, tax, accounts, and more! Every episode provides actionable advice from me, Business Finance coach, accountant and educator who explains that stuff in an easy and no nonsense way.

Are you a small business owner, social enterprise or organisation passionate about change? Managing your finances can be a lot of work, trust me.  Finally, there’s software that makes keeping track of your cash flow and financial planning easier: Numbers Know How. It helps you stay organised so you can focus on what matters to you; the creative work and the impactful change. Take a step away from the chaos with fast setup & easy navigation – numbers just got real…for the better! Get organised & make sense of it all with Numbers Know How today!

Avoidable mistakes on your tax return is this weeks topic.  It's tax season, and the stress of preparing your return can feel overwhelming. But don't worry - I Hate Numbers is here to help! On this week's podcast, I'm talking about Avoidable mistakes on your tax return, five of them to be exact.

The first mistake I'll be discussing is student loans. Many taxpayers are unaware that they may be liable for student loan deductions.  It pays to do your research and see if you're eligible! Ignoring these potential deductions can cost you precious money in the long run.

Next, I'll dive into the impact of COVID on both employees and directors who work from home. Many taxpayers don't realize that they may be able to deduct expenses related to working from home. Don't let a well-deserved deduction slip through the cracks!

I'll also cover self-employed expenses and how those deductions can add up over time. Self-employed taxpayers have plenty of options for reducing their tax liability, but it's important not to overlook any possible deductions.

Another key area I'll discuss is the High-Income Child Benefit Charge. This applies to families with high income earners - if you fall into that category, make sure you know what applicable charges could affect your taxes this year!

Finally, I'll talk about Gift Aid payments and how those might factor into your return. It's crucial to understand how these payments will be taxed - otherwise you could be missing out on valuable savings opportunities!

Don't miss out on these essential insights - tune in for my I Hate Numbers podcast on five mistakes people make with their self-assessment tax returns! With my guidance, you can save yourself time, money, and stress this tax season.

The I Hate Numbers podcast isn’t just about taxes though.  Other topics are covered, for example cash flow management, budgeting, forecasting, debt management and more! Every episode provides actionable advice from experienced professionals who explains complicated concepts in an easy-to-understand way.

I understand that dealing with finances can feel overwhelming at times but don’t let that stop you from taking control of your finances! Tune into my I Hate Numbers podcast today where we provide vital information plus practical advice in a fun way!

Need help with this process, please don’t hesitate to contact me. I’d be happy to advise you on your taxes and how to minimise them.

Are you looking for some help with Tax and Business Financial Planning? It can be intimidating to figure out on your own, don't struggle alone. My I Hate Numbers podcast is here to make it easier for you.

When building a business financial plan, tax must be considered. Tax is an expense just like any other, so it’s essential for us to consider the amount, as well as all the various variables that come with it. Furthermore, not doing so could lead to major problems down the line if we ignore tax considerations.

Fortunately, this weeks I Hate Numbers podcast covers the approach you need to make when dealing with Tax and Business Financial Planning

The I Hate Numbers podcast isn’t just about taxes though.  Other topics are covered, for example cash flow management, budgeting, forecasting, debt management and more! Every episode provides actionable advice from experienced professionals who explains complicated concepts in an easy-to-understand way.

I understand that dealing with finances can feel overwhelming at times but don’t let that stop you from taking control of your finances! Tune into my I Hate Numbers podcast today where we provide vital information plus practical advice in a fun way!

It's vital that you consider tax as part of your business financial plan. You gain a lot to be gained by understanding the taxes involved and considering the timing and attitude to tax in your business.  You can ensure that you're making sound decisions for the future of your company. If you need help with this process, please don't hesitate to contact me. I'd be happy to advise you on how to build a solid financial foundation for your business.

There are Five key stages in your Business Financial Plan. Having a clear financial plan in place is essential for any small business, arts organisation, social enterprise, or SME. Creating one can seem like a daunting task. However, when broken down into the five key stages it becomes less of an overwhelm.

With my guidance, you'll ensure that all areas of your operations are considered and nothing important falls through the cracks.

Listen if you want to get ahead with your Business Financial Plan!

So listen to discover the five key stages that you need to go through to produce your business financial plan. Success, however you define it, is what we all want.  I guarantee if you don't have a financial plan in place then your will not progress as you want it to.  Furthermore, you're going to be stuck where you currently are right now, maybe making some small incremental changes.

If you really want to propel your business forward and achieve what it is that YOU want to achieve, then absolutely 100% put a financial plan together following these steps.  It will make all the difference in the world not just for yourself but also for your team around you as well.

Are you a small business owner, social enterprise or organisation passionate about change? Managing your finances can be a lot of work, trust me.  Finally, there’s software that makes keeping track of your cash flow and financial planning easier: Numbers Know How. It helps you stay organised so you can focus on what matters to you; the creative work and the impactful change. Take a step away from the chaos with fast setup & easy navigation – numbers just got real…for the better! Get organized & make sense of it all with Numbers Know How today!

Are you running a small business, social enterprise or arts organisation but aren’t sure if budgeting really matters? Well, it absolutely does! In this weeks I Hate Numbers podcast I discuss the importance of budgeting and show you why it should be an integral part of your plan for success.

Budgeting is essential for success and there are multiple reasons why. It promotes smarter decision making, helps track progress plus so much more.

Fasten your seat belts SMEs - here comes 8 solid reasons why effective budgeting should be top of mind for any serious business!

It’s amazing how many small businesses, SMEs, and arts organisations – you know the ones, that are always just teetering on the edge of making it big or going bust.  They either don’t bother with budgeting or do it all wrong.  I get it: budgets can be complicated and a chore to set up… but there's actually an incredibly simple reason why budgeting is so important for any business (yes, even yours!).  It doesn't have to be difficult; in fact, if done right budgets can propel your organisation into productivity overdrive! So why exactly should you budget? Listen to this podcast on The importance of Budgeting and I'll explain why.

The importance of budgeting can't be stressed enough. It doesn't matter whether you're a small business, arts organisation, social enterprise or all of the above combined. Budgeting is essential for any successful venture. If you've been avoiding this task like the plague (trust me, I understand why), it's time to finally confront your financial fears and start setting budgets!

Approach the (not so) dreaded B word Budgeting with the right attitude.

Thanks for listening.

Are you an SME, small business owner, individual artist or an organisation passionate about change? Managing your finances can be a lot of work, trust me.  Finally there's software that makes keeping track of your cash flow and financial planning easier: Numbers Know How. It helps you stay organised so you can focus on what matters to you; the creative work and the impactful change. Take a step away from the chaos with fast setup & easy navigation - numbers just got real...for the better! Get organized & make sense of it all with Numbers Know How today!

What should you charge for your services? It's a question that many small business owners, artists, and social enterprises grapple with.

Charging too much can mean you're shutting yourself off from potential clients, while charging too little can lead to you working for very little money.  Is it based on how much experience you have, how long it will take you to do the job, or how big the project is?

How do you come up with a price that accurately reflects the time and value of your work.  Moreover one that will not see you broke!

Whatever the answer, it is important to have an hourly rate in mind.  You may not bill by the hour but having a floor and ceiling limit is a wonderful guide.

In this weeks I Hate Numbers podcast I look at how to calculate an hourly rate for your time.

Listen to find out more

There is no one-size-fits-all answer to the question of how much you should charge for your time. However, by using the information provided in this podcast and in the FREE online pricing calculator, you can work out a fair rate for your services that will help power your business forward. Thanks for listening

Struggling with numbers and feeling like you can't win the battle between your ears?

I Hate Numbers is an easy, humorous but serious read about running a business. It also shows you how to have a financially rewarding relationship with your numbers. Furthermore, my book will help with that battle between the ears, that all business owners experience. If you feel like you could use some help in this area, buy my book and let me show you how to get on track for success.

Not only will you be able to understand your finances better, but you’ll also learn how to take the stress out of money management. Thanks for reading!

Click this ad right now and buy my book! You won't regret it!

Many businesses use cost based pricing, or cost plus pricing but what is it?  How does it work, what are its advantages and disadvantages

When it comes to pricing your goods or services, there are a few popular strategies that business owners use.  The most well-known is cost-based pricing, where you charge what it costs you to produce or provide the good or service.

In this weeks I Hate Numbers podcast I'll focus on cost plus pricing is and how it works.  Furthermore , I will look at the pros and cons of using this strategy for your business.

Listen to find out more

Do you need to price your products or services for sale but don't know where to start? Have no fear, our free online pricing calculator is here! With just a few pieces of information, our calculator will help you come up with a fair price for your items. So why not give it a try today? You may be surprised at how easy it is!

Do you need to price your products or services for sale but don't know where to start? Have no fear, our free online pricing calculator is here! With just a few pieces of information, our calculator will help you come up with a fair price for your items. See what mark up and profits are.  So why not give it a try today? You may be surprised at how easy it is!

Join my financial planning and story telling community at Numbers Know How If you want 1-2-1 support then I would be happy to help you create a sound financial plan for your company.

Are you ready to have an easier and more rewarding relationship with your numbers?  My book, I Hate Numbers helps you get there.

I Hate Numbers is an easy, humorous but serious read about running a business.  It also shows you how to have a financially rewarding relationship with your numbers. Furthermore, my book will help with that battle between the ears, that all business owners experience. If you feel like you could use some help in this area, buy my book and let me show you how to get on track for success. Not only will you be able to understand your finances better, but you’ll also learn how to take the stress out of money management. Thanks for reading!

Get in touch with us to help make your life easier and stress-free. Contact us if you need help figuring out and sorting your numbers, creating your future financial story plans, your tax, payroll and other accounting and business matters.

Getting your Finances in Order is key to a successful business.  Find out more by checking out Numbers Know How 

It's no secret that I know that financial planning is wonderful.  Successful businesses require effective financial planning. But did you know that there are several other benefits to financial planning as well? In this podcast I'll look at some of the key advantages of financial planning for your business.

Whether you're just starting out or you've been in business for a while, it's never too late to get started on sound financial planning!

The benefits of financial planning are vast, and they touch every aspect of your life.  This includes

• Firstly, clarity of purpose, decision making and focus, a clear path to success
• Secondly, reducing your stress and anxiety, why wouldn't you want that ?
• Thirdly, seeing where the risks and pitfalls.  Furthermore, managing and swerving those risks
• Lastly, avoiding a time consuming and expensive hobby, and making profits.

Being your own boss is a great feeling. But it's important to remember that, as with any other type of organisation, a business needs careful financial planning if it's going to be successful in the long term.

Listen to find out more

From reducing stress to making more money, financial planning is wonderful and essential for you and your business. Watch our video to learn more about how we can help you achieve your Northern Star. Are you ready to take the next step?So what are you waiting for? Listen to find out more.

Join my financial planning and story telling community at Numbers Know How If you want 1-2-1 support then I would be happy to help you create a sound financial plan for your company.

Are you ready to have an easier and more rewarding relationship with your numbers?  My book, I Hate Numbers helps you get there.

This book is based on my 27 + years in business, helping thousands of businesses survive and prosper.  Furthermore, it is an easy, humorous but serious read about running a business, having a financially rewarding relationship with your numbers, Furthermore, my book will help with that battle between the ears, that all business owners experience.

Get in touch with us to help make your life easier and stress-free. Contact us if you need help figuring out and sorting your numbers, creating your future financial story plans, your tax, payroll and other accounting and business matters.

Getting your Finances in Order is key to a successful business.  Find out more by checking out Numbers Know How 

So, if you’re someone who hates numbers I have five reasons Why you should ignore your numbers.

Firstly, if having no clarity or focus in your business sounds appealing to you then by all means continue to avoid looking at your numbers.

Secondly, if making decisions on the fly without any real understanding of what is happening works for you then keep doing what you’re doing.

Thirdly, if experiencing stress and anxiety is how you like to roll then go ahead and stay blissfully ignorant of your numbers.

Fourthly, if feeling like you’re in control and knowing what is happening with your business puts too much pressure on you then don’t worry about it!

Lastly, if having a time consuming hobby that doesn’t make any profits is more up your alley than actually making money then ignore away.

.Although it may be tempting to ignore your numbers, there are many reasons why you should not. The most important reason is that by understanding and paying attention to your numbers, you put yourself in the driver’s seat of your business and can make better decisions based on data rather than guesswork. If this sounds like something you would prefer to avoid, then I suggest subscribing to my I Hate Numbers You Tube channel where I will continue providing helpful tips and information about all things related to numbers (and how to ignore them).

Good to know

Are you ready to have an easier and more rewarding relationship with your numbers?  My book, I Hate Numbers helps you get there.

This book is based on my 27 + years in business, helping thousands of businesses survive and prosper.  Furthermore, it is an easy, humorous but serious read about running a business, having a financially rewarding relationship with your numbers, Furthermore, my book will help with that battle between the ears, that all business owners experience.

Get in touch with us to help make your life easier and stress-free. Contact us if you need help figuring out and sorting your numbers, creating your future financial story plans, your tax, payroll and other accounting and business matters.

Getting your Finances in Order is key to a successful business.  Find out more by checking out Numbers Know How 

Self-belief is crucial when it comes to succeeding in business. Undeniably, it can shape how we approach opportunities and challenges alike. Without confidence, even the best plans might falter because hesitation tends to slow progress. Thus, building and maintaining self-belief becomes essential for achieving long-term goals.

We know that self-belief directly impacts decision-making. Additionally, when we believe in our own abilities, we are more likely to take risks, experiment, and adapt during uncertain times. Evidently, confidence encourages innovative thinking, which helps us stand out. In contrast, self-doubt holds us back from trying new ideas, often making us more vulnerable to stagnation.

To cultivate self-belief, we must begin by acknowledging our strengths. However, this also involves recognising areas where we need improvement and committing to growth. Certainly, learning from failure is key. While setbacks can challenge our self-belief, they also offer valuable lessons that contribute to future success.

We should also surround ourselves with positive influences. Albeit difficult at times, having supportive people can boost our morale. Comparatively, negative environments hinder our ability to believe in ourselves, so it’s essential to create a network that reinforces positivity.

Firstly, setting small, achievable goals allows us to build momentum. Subsequently, as we accomplish each target, our confidence grows. Secondly, visualising success can help shift our mindset, making self-belief a more natural part of our process. Also, taking regular breaks to reflect on progress ensures we stay motivated.

Finally, self-belief is not a one-time achievement. Instead, it’s an ongoing journey. Therefore, by nurturing it, we increase our chances of thriving in business.

To boost your self-belief and achieve greater success, tune in to the I Hate Numbers podcast, where we break down complex financial topics with practical insights. Whether you're looking to grow your business, sharpen your financial skills, or build confidence in your decision-making, we have you covered. Subscribe now and take the next step toward mastering your finances!

Explaining assets and liabilities is my mission in this week's I Hate Numbers podcast, episode 140. It’s not recommended practice, certainly mine, to operate without considering its assets and liabilities.

However, what do these terms actually mean? In this podcast, I'll break down what constitutes a business asset and explain some of the most common liabilities businesses face.  We'll also provide some tips on how to manage your company's finances effectively.  So, if you're looking to get a better understanding of your business' financial standing, read on!

When running a business, it's important to understand the difference between assets and liabilities.  An asset is anything that adds value to your business, while a liability is anything that detracts from it.  In this blog post, we'll take a closer look at what constitutes an asset and a liability and give you some tips on how to manage them effectively.

Some of the reasons for Explaining assets and liabilities is

• Firstly, looking at the financial health of your company
• Secondly making good decisions for your business
• Thirdly empowering business owners and management

If you're interested in learning more, be sure to subscribe to I Hate Numbers podcasts, where I go into much more detail on all things accounting and finance related.  Thanks for listening!

Are you ready to have an easier and more rewarding relationship with your numbers?  My book, I Hate Numbers helps you get there.

This book is based on my 27 + years in business, helping thousands of businesses survive and prosper.  Furthermore, it is an easy, humorous but serious read about running a business, having a financially rewarding relationship with your numbers, Furthermore, my book will help with that battle between the ears, that all business owners experience.

Get in touch with us to help make your life easier and stress-free. Contact us if you need help figuring out and sorting your numbers, creating your future financial story plans, your tax, payroll and other accounting and business matters.

Getting your Finances in Order is key to a successful business.  Find out more by checking out Numbers Know How 

Explaining gross profit is my mission this  week. Gross profit is the amount of money you make after subtracting the cost of goods sold from your total revenue. This number tells you how much money is left over after you've covered the costs associated with making and selling your products or services.

Check out last weeks podcast and video looked at Operating profit.  This is the amount of money you earn after all expenses have been taken into account. It's what's left over after you've paid for everything your business needs, from labour and materials to rent and marketing.

Many businesses want to ensure they are making a profit, but don't know where to start. This FREE profit calculator shows you exactly what your gross profit is right now. With this information, you can make informed decisions about where your business should go next. Use this calculator to find out if you're making a profit and how much money you could be making!

Are you ready to have an easier and more rewarding relationship with your numbers?  My book, I Hate Numbers helps you get there.

This book is based on my 27 + years in business, helping thousands of businesses survive and prosper.  It is an easy, humorous but serious read about running a business, having a financially rewarding relationship with your numbers, Furthermore, my book will help with that battle between the ears, that all business owners experience.

Get in touch with us to help make your life easier and stress-free. Contact us if you need help figuring out and sorting your numbers, creating your future financial story plans, your tax, payroll and other accounting and business matters

Explaining operating profit is this weeks I hate Numbers podcast.  Operating profit is a performance measure that tells you how much money your business earned from its core operations. It's a figure that business often overlook when it comes to budgeting and long-term planning.

But understanding your operating profit is essential if you want to make the most of your resources. This podcast breaks down some key points about operating profit and gives examples of how you can use this information for your business or organisation.

Quite simply, it's a measure of all the revenue generated from a company's primary activities, minus all the associated costs. This includes things like the cost of raw materials, labour, factory overheads, and marketing expenses.

Operating profit is therefore a more accurate measure of a company's profitability from its ongoing activities.  And it's this figure that managers should focus on when making decisions about where to allocate resources.

So, next time you're looking at your company's financial statements, take a closer look at the operating profit figure. It will give you a better idea of how your business is performing

Are you ready to have an easier and more rewarding relationship with your numbers?  My book, I Hate Numbers helps you get there.

This book is based on my 27 + years in business, helping thousands of businesses survive and prosper.  It is an easy, humorous but serious read about running a business, having a financially rewarding relationship with your numbers, Furthermore, my book will help with that battle between the ears, that all business owners experience.

Get in touch with us to help make your life easier and stress-free. Contact us if you need help figuring out and sorting your numbers, creating your future financial story plans, your tax, payroll and other accounting and business matters

Risk is a natural part of business life; using operational gearing measures one of those risks.  Sorry to throw in a bit of jargon there at the start, my jargon buster ray gun is there at the ready.

Have you ever wondered what operational gearing is? And how it can benefit your business? Maybe you have never heard of it.  Wonder no more, I look at operational gearing in this week’s podcast.  Firstly, I explain what operational gearing; secondly, how you measure it.  Finally, how you can use this knowledge to make your business stronger, with knowledge comes power.

Operational gearing is the level of fixed costs in a company as a proportion of total costs. It is a measure of how much a company has to spend to keep the business running, regardless of how much revenue it generates. The higher the level of fixed costs, the higher the operational gearing.

A high level of operational gearing can be risky for a company, because it means that a small decrease in revenue can result in a loss. However, it can also make a company more profitable because it can increase margins.

Understanding operational gearing is important for business owners and managers because it can help them to make informed decisions about where to allocate resources and how much debt to take on. It can also help them to understand the risks and rewards associated with different levels of operational gearing.

If your eyes are glazing at the thought of the number crunching, glaze not.  Use our FREE online calculator,

I whipped up to help you determine your own company's operational gearing. Give it a try!

Subscribe to my I Hate Numbers podcast where every week we discuss ways small businesses can survive and thrive,

Are you ready to have an easier and more rewarding relationship with your numbers?  My book, I Hate Numbers helps you get there.

This book is based on my 27 + years in business, helping thousands of businesses survive and prosper.  It is an easy, humorous but serious read about running a business, having a financially rewarding relationship with your numbers, Furthermore, my book will help with that battle  between the ears, that all business owners experience.

Get in touch with us to help make your life easier and stress-free. Contact us if you need help figuring out and sorting your numbers, creating your future financial story plans, your tax, payroll and other accounting and business matters

If you want to stay afloat in your business, understand break even and how it can help. Every industry needs this key number for different reasons but regardless of what kind of company or size you are you should have a grasp on these fundamentals!

Understanding and using break even and applying is neglected by many business owners. That's a shame, it's powerful and in helping you make profit, and better business decisions

In this week's podcast I will

Firstly, explain what break-even is

Secondly, why it's so powerful, not only for your bank balance, but also for your mental well

So, what is break-even? In very simple terms, it’s the point at which your total income equals your total costs. Once you hit this magical number, you no longer make a loss on every sale and start making profit! It’s an important marker to know for any business owner.  It tells you when you reach profitability and how much money you need to bring in before you start making a profit.

Break-even analysis can also help with forecasting future sales and budgeting.

If that wasn’t reason enough to love it, break-even is like your personal financial advisor giving you the thumbs up or down on whether a new project or product is worth pursuing. You don’t have to be a maths genius to use it – I have a free online calculator that does all the hard work for you. Why not try out break even today and see how empowering it can be for your business decisions?

Subscribe to my I Hate Numbers podcast where every week we discuss ways small businesses can survive and thrive,

Are you ready to have an easier and more rewarding relationship with your numbers?  My book, I Hate Numbers helps you get there.

This book will show you how to have a rewarding, productive relationship with numbers and your business.  Furthermore, my book will help with that battle between the ears, that all business owners experience.  Learn more and buy my book today!

Get in touch with us to help make your life easier and stress-free. Contact us if you need help figuring out and sorting your numbers, creating your future financial story plans, your tax, payroll and other accounting and business matters

A recession is a difficult time for any business, so knowing How your business deals with a recession is a vital part of your toolkit,

It may be that your customers may have less money to spend, you may have to let staff go, and your bottom line may be shrinking.  But all is not lost, there are things you can do to help your business weather the storm.

In this week's I Hate Numbers podcast I'll look at some ways to deal with a recession and keep your business afloat. Furthermore, your business can even prosper, listen to find out more.

A recession can be a difficult time for businesses of all sizes. Knowing how to deal with a recession and keep your business afloat is essential for any entrepreneur or small business owner. In this blog post, we'll discuss some tips for weathering a recession and keeping your business moving forward. Thanks for reading!

So hopefully these tips will show you How your business deals with a recession. If you have any questions, or want more information on how to apply these tips specifically to your business, please don’t hesitate to reach out. I love talking shop, so feel free to subscribe to my Hate Numbers podcast where every week we discuss ways small businesses can survive and thrive, regardless of the economy. And until next time, keep calm and carry on!

And if you’re still feeling lost or don’t know where to start, our team at Numbers Know offers comprehensive financial planning services that will help get your business through these trying times and into a bright future ahead.

So, what are you waiting for?  Check out our website now and see how we can help get your business back on track!

Are you ready to have an easier and more rewarding relationship with your numbers?  My book, I Hate Numbers helps you get there.

This book will show you how to have a rewarding, productive relationship with numbers and your business.  Furthermore, my book will help with that battle between the ears, that all business owners experience.  Learn more and buy my book today!

Get in touch with us to help make your life easier and stress-free. Contact us if you need help figuring out and sorting your numbers, creating your future financial story plans, your tax, payroll and other accounting and business matters

Are you a business owner looking to make the switch to cash basis accounting?  The transition can be daunting, but it's worth it if you want to make the most of your profits.  In this podcast I'll take a look at how traditional accounting compares to cash basis accounting and show you how to calculate your tax profits under each system.  Let's get started!

The cash basis for tax seems like the right decision for a lot of small business owners. Moreover, it’s simple, straightforward, and easy to understand. You can use it without having to worry about all of the different rules and regulations that come with using other methods.  However, there are some definite downsides to consider before you make your final decision.

The most important thing is to weigh up the pros and cons carefully so that you can make an informed choice about which method is best for your business. I hope this podcast has helped clear up some of the confusion around calculating profit.  If you have any questions, please don’t hesitate to get in touch.  And don’t forget to subscribe so you never miss an episode!

Using cash profits In order to make your business as successful as possible, it's important to know where you're at financially.  One way to measure this is by you Calculating cash profits.  This involves taking your revenue and subtracting your expenses.  Furthermore, this  gives you a clear picture of how much money is actually coming in and out of your company.  While this can seem like a daunting task, it's a crucial step in making informed decisions about the future of your business.  By understanding your cash profits, you can better assess where you need to make changes and cut costs.  And with that knowledge in hand, you can focus on growing and expanding your business!

The cash basis for tax is a simplified way of accounting for your business income and expenses. It can be used by most businesses, but there are some cases where it is not suitable. I explore in this podcast post

• Firstly, who is eligible to use the cash basis for tax
• Secondly, when it is not appropriate.

Further details can be found here

When it comes to calculating profits, there are two main methods, traditional or the cash basis. Each of these methods has its own benefits and drawbacks..

Are you ready to have an easier and more rewarding relationship with your numbers?  My book, I Hate Numbers helps you get there.

This book will show you how to have a rewarding, productive relationship with numbers and your business.  Furthermore, my book will help with that battle between the ears, that all business owners experience.

Grab your FREE cashflow guide Make your own Future Cash Story Plan with Numbers Know How.  Get in touch with us to help make your life easier and stress-free. Contact us if you need help figuring out and sorting your numbers, creating your future financial story plans, your tax, payroll and other accounting and business matters.

Thanks for listening!

Self-employed tax returns can be daunting, but they don't have to be! This weeks I Hate Numbers podcast takes you through how to fill in your self-employed tax return for the year 21-22.  I'll explain everything you need to know, so you can be confident in completing your return.  Plus, I've got some handy tips to help make the process as smooth as possible.

Let's get started!

Self-employed individuals have to file a self-employed tax return each year. This document is used to report your income and expenses so that the government can correctly assess how much tax you owe.

Filling in your self-employed tax return can be confusing, but it's important to get it right.

Choosing If you're a business owner, one of the most important decisions you'll make is choosing an accountant. But with so many options available, how do you know which one is right for you? In this blog post, we'll outline some tips for choosing an accountant and share some of the benefits of working with one. So read on to learn more!

As a business owner, you’re constantly dealing with numbers. Whether you’re crunching the numbers on what to charge or trying to figure out how much tax to pay,  using a business calculator makes the process easier. Check out our resource page and take away some of the number heavy lifting.

In this podcast episode, I have focused on the self-employed tax return.  What are the responsibilities that come with being self-employed?  How you go about preparing your tax return if you’re self-employed? And how can you make sure that you’re paying the right amount of tax? Dealing with the self employed grant and claiming simplified expenses.

I answer these questions and more, so be sure to stick around until the end.  If you want to find out more about preparing your self-employed tax return, or if you need help filing your taxes this year, then contact us.  Head over to our website and use our free online tax calculator.  It’s quick, easy and best of all – it’s free! Thanks for listening.

There you have it. Four key things that you need to know in order to prepare your personal tax return for 21/22.  Check out one of out previous blog on this topic, more words, and details.

Are you ready to have an easier and more rewarding relationship with your numbers?  My book, I Hate Numbers helps you get there.

This book will show you how to have a rewarding, productive relationship with numbers and your business.  Furthermore, my book will help with that battle between the ears, that all business owners experience.

Grab your FREE cashflow guide Make your own Future Cash Story Plan with Numbers Know How.  Get in touch with us to help make your life easier and stress-free. Contact us if you need help figuring out and sorting your numbers, creating your future financial story plans, your tax, payroll and other accounting and business matters.

Thanks for listening!

Why do you need to know How to complete your self-assessment return 21-22 ?

Well, are you self-employed or run a small business?  If so, you'll need to submit a tax return to HMRC for the financial year 21-22.

This can seem daunting, but with careful preparation, it doesn't have to be difficult.  In this blog post, we'll outline the steps you need to take to ensure your return is filed correctly and on time.  We'll also cover some of the common deductions and allowances that may apply to you.  So, whether you're a seasoned pro or preparing your first tax return, read on for our top tips!

"A fine is a tax for doing something wrong. A tax is a fine for doing something right." - Anonymous

How to prepare your How to complete your self-assessment return tax return 21-22 may not get the pulse racing.

For some it may cause anxiety, apoplexy and poking eyes with sticks may come to mind.

If you are you one of the 10.2 million + people that have to complete a self-assessment personal tax return it’s a necessary evil. Maybe evil is too strong a word, but that’s how it feel to many.

If you've not yet submitted yours and want an estimate of what to pay then check out my FREE online tax calculator  

Relax and sort your tax,

As a business owner, you're constantly dealing with numbers. Whether you're crunching the numbers on what to charge or trying to figure out how much tax to pay,  using a business calculator makes the process easier. Check out our resource page and take away some of the number heavy lifting.

There you have it. Four key things that you need to know in order to prepare your personal tax return for 21/22.  Check out one of out previous blog on this topic, more words, and details.

It’s important to bear in mind that these are just the basics and that you should always seek professional advice if you’re unsure about anything. You can find more information on our website, including a free online tax calculator which will help make the process a little bit easier.

Are you ready to have an easier and more rewarding relationship with your numbers?  My book, I Hate Numbers helps you get there.

This book will show you how to have a rewarding, productive relationship with numbers and your business.  Furthermore, my book will help with that battle between the ears, that all business owners experience.  Learn more and buy my book today!

Get in touch with us to help make your life easier and stress-free. Contact us if you need help figuring out and sorting your numbers, creating your future financial story plans, your tax , payroll and other accounting and business matters.

Thanks for listening!

Making business decisions in uncertain times can be difficult. There are a lot of things to consider and it can be hard to know what the right thing to do is.

However, by taking a few things into account, you can make decisions that will help your business grow and thrive in any situation.

Here are the A’s, the three tips for making smart business decisions during uncertain times.

• Firstly, Attitude, make sure it’s the right one
• Secondly, Assessment, understand and plan for what is going on
• Lastly, Action, inertia is not your friend

Making business decisions in uncertain times can be tough for business owners. It’s hard to know what the right thing to do is when you don’t have all of the information. That’s why we came up with three tips for making smart decisions during uncertain times.

The first one is attitude, make sure it’s the right one. You need to be positive and believe in your ability to succeed even if things are looking a little bleak. Secondly, assessment, understand what is going on around you so that you can make informed decisions. And lastly, action, inertia is not your friend. Don’t wait too long to take action or else you might miss out on opportunities. To learn more about these tips and how they can help your business thrive during uncertain times listen to our latest episode of the Small Business Success podcast. Thanks for listening

My gift to you, a free Numbers Know How Cash Flow Guide.   Check out my I Hate Numbers YouTube channel,  Subscribe to I Hate Numbers now so you don’t miss an episode.  My book, I Hate Numbers will change your relationship with numbers and money, in a good way.  Check out what people have said, buy the book and make your own mind up, you won’t be disappointed.

Economies of Scale are crucial for businesses seeking efficient growth. This week's episode explains how this concept applies across industries, especially in small businesses and the creative arts. When businesses grow, unit costs generally decrease, leading to more profit when managed well. Additionally, economies of scale provide businesses with the opportunity to optimise resources, which is vital for sustainable success.

Economies of Scale mean that when businesses expand, they can produce goods or services at lower costs. Fixed costs, e.g., rent and salaries, spread across more products, consequently reducing each unit's cost. For example, buying ingredients in bulk lowers the cost per cake, thus allowing for either higher profits or competitive pricing. Furthermore, the larger the scale of operations, the more opportunities arise for negotiating better deals with suppliers, leading to additional cost savings.

Comparatively, businesses operating on a smaller scale may struggle to achieve such savings, making it even more critical to understand the timing and scale of expansion. However, it's important to recognise that economies of scale are not just about cost reduction. Instead, they also offer a strategic advantage in improving market competitiveness by enabling businesses to lower prices while maintaining or even improving quality.

Understanding economies of scale is essential for small businesses. It helps in planning growth and guides decisions on investments in staff, equipment, or premises. Lowering unit costs undoubtedly boosts profits, enables competitive pricing, and supports business reinvestment, driving continuous growth. Moreover, economies of scale can make the difference between mere survival and thriving in a competitive market. Specifically, businesses that leverage these efficiencies can reinvest savings into other areas, such as marketing or product development, creating a cycle of growth and innovation.

In creative arts, economies of scale have a significant impact. A full theatre audience spreads fixed costs over more tickets, thus lowering the average cost per ticket. Similarly, artists printing larger batches of their work reduce the cost per print, thereby increasing profits or alternatively allowing competitive pricing. Consequently, this attracts more buyers and enhances the artist’s market presence. Likewise, in a production company, producing content at scale can lead to better utilisation of resources, such as equipment and crew, making each project more cost-effective.

Economies of scale present challenges, especially when growth occurs too quickly. This can lead to inefficiencies, known as diseconomies of scale. Albeit, careful planning is essential to maintain quality and ensure sustainable growth. Undeniably, understanding it is key to long-term business success, regardless of size. Finally, it’s worth noting that while economies of scale offer substantial benefits, they require strategic management to avoid potential pitfalls such as overexpansion or loss of quality. To learn more about how economies of scale can benefit your business, listen to the "I Hate Numbers" podcast.

If you're a business owner, then you know that the cost of doing business is always on your mind. But what do you do when that cost suddenly skyrockets? Whether it's an increase in rent, wages, or material costs, a sudden spike can be disastrous for your bottom line. Here are a few tips to help you weather the storm.

"Losing your head in a crisis is a good way to become the crisis." C.J. Redwine

Not as much media time, comments through social media, or sympathy, but there is a real cost of business crisis - and not just a cost of living one.

Expect an intensification of 'clench your buttocks', WTF, as the costs of doing business will continue to build and it will feel like a kick in the financial balls. Ouch and wince!

There is no energy cap for businesses, and the eye-watering increases faced by individuals is eye gouging for businesses.

In this podcast I specifically look at how to reduce and manage your energy costs.

For example, businesses that are not work from home ones (of which a gazillion exist, including mine) are facing up to a five fold increase in energy costs.

Support is out there in how deal with energy costs.  However, that may feel like wearing a balaclava as someone hits you with a financial baseball bat.

This episode provides more protection than a balaclava.

 "When everything around you is crazy, it is ingenious to stay calm" - Mehmet Murat ildan

At the risk of understatement, a ton load of businesses are experiencing crappy times, a cost of business crisis - that order of toilet paper will need to be increased.

Unfortunately, the rubbishy times are not unique to business, (Financial Crash 2008 anyone?) though the circumstances may be.

What I do know is that the best way to deal with rubbish times, is

Firstly, attitude and approach - panic is not your friend

Secondly, assessment - don't rely on guesswork

Thirdly, options, there are always options

Fourthly, Financial-Cash flow Plan, you should be doing this anyway

Lastly, Take action - inertia doesn't solve anything

Conclusion

So what does this all mean for business owners? We’re in the midst of a cost of living crisis and it’s impacting businesses in a big way. The good news is that there are things we can do to navigate our way through this very choppy and turbulent storm. In this podcast, I’ve outlined as best I could what a cost of business crisis is, how we should approach it and how we should deal with it.

My gift to you, a free Numbers Know How Cash Flow Guide.   Check out my I Hate Numbers YouTube channel,  Subscribe to I Hate Numbers now so you don’t miss an episode.  My book, I Hate Numbers will change your relationship with numbers and money, in a good way.  Check out what people have said, buy the book and make your own mind up, you won’t be disappointed.

Customer lifetime value and segmentation is this week's episode of the I Hate Numbers podcast.  Last week I kicked off with part one I will be continuing from part one my exploration of customer lifetime value by looking at

• Firstly CLV and net CLV calculation
• Secondly, customer segmentation
• Thirdly, customer retention.

These topics are important for anyone looking to improve their business profits, deliver a positive customer experience, or simply improve their understanding of their customers.

By segmenting customers according to their lifetime value, businesses can focus their attention on those customers who are most likely to generate long-term profits. Customer retention is essential for maintaining profitability, as it costs much less to retain a customer than it does to acquire a new one.

By understanding these concepts, businesses can set themselves up for success in the long run.

Customer lifetime value is a number that tells you how much profit a customer will bring your business over the course of their “lifetime” with you. To calculate this, you'll need to look at your customer's average order value, how often they purchase from you, and how long they stay with you as a customer.

Customer segmentation is a way of dividing your customers into groups based on shared characteristics. This can be helpful in understanding which customers are most valuable to your business and how best to communicate with them.  Take a look at this video for a visual of segmentation, accreditation goes to Hubspot for the table.

Customer retention is important because it costs much less to keep a current customer than it does to acquire a new one

So in conclusion, Customer lifetime value and segmentation is an incredibly powerful number helping you focus on the right customers and increase profits. In order to set this power free though, you need to do a little bit of work up front segmenting your customers correctly and then track their CLV over time.

It’s not rocket science, but it does require some effort.  If you are willing to put in the work however, the rewards can be great.

Are you ready to start harnessing the power of customer lifetime value?  Then listen to find out more.   Check out my I Hate Numbers YouTube channel,  Subscribe to I Hate Numbers now so you don’t miss an episode.  My book, I Hate Numbers will change your relationship with numbers and money, in a good way.  Check out what people have said, buy the book and make your own mind up, you won’t be disappointed.

Numbers gives you business superpowers, you should be Using customer lifetime value as one of those numbers.

In this podcast I will

• Firstly, break down what CLV is
• Secondly, how you can go about calculating it for your own business.
• Lastly, why it's important

So, whether you're just starting out or you've been in business for a while, listen to find out more!

If you're in business, it's important to know how much each of your customers is worth. Knowing your customer lifetime value (CLV) can help you make more informed decisions about where to focus your marketing efforts, and how much to spend on acquiring new customers.

So, there you have it! Using customer lifetime value in a nutshell.  It’s an incredibly powerful number that can help your business in innumerable ways, so make sure to start calculating it today.

In the next part of this series, I’ll take a deeper look at CLV, its power, use and what you need to do to use it.  Listen if you want to increase your profits and get a better understanding of what else is possible when you wield this metric effectively.

Are you excited? I know I am! If you can't wait for more, go ahead and listen to the rest of the podcast episode where we deep dive into all things CLV. You won't regret it!

Check this link to learn more about financial statements.  I invite you to join my Numbers Know How Financial Story Plan Community. I’d love to have you there!

Check out my I Hate Numbers YouTube channel,  Subscribe to I Hate Numbers now so you don’t miss an episode.  My book, I Hate Numbers will change your relationship with numbers and money, in a good way.  Check out what people have said, buy the book and make your own mind up, you won’t be disappointed.

So, what is the impact of VAT registration on your business.  That is what I am looking at in podcast episode 127 of I Hate Numbers. There will be changes, and in the words of Charles F. Kettering “People are very open-minded about new things, as long as they're exactly like the old ones.”

So, what changes when you become VAT registered?

🍨Mindset change - you’re now an unpaid tax collector, no salary or fringe benefits

🍨Pricing conversations and decisions to be had, unless you want a declining bank balance and lost custom

🍨Profitability, not a dirty word, no profit, no business

🍨Processes and procedures will change, or rather they need to

Sweet and sour, ice cream and toothache, pleasure and pain is what it feels like for many businesses once they become VAT registered.

VAT, and dealing with it feels like one of the biggest business brain squeezes and changes for business owners once they join the exclusive (?) club of 2.7 million VAT registered businesses.

If you’re a VAT newbie, it can be daunting – It’s important to understand what changes you will face. Even seasoned members of the VAT club feel that they need that occasional lie down.

So, if you’re feeling a bit of pain and pleasure when it comes to VAT registration, don’t worry, you’re not alone. Millions of businesses go through the same thing. In this episode we chat about what you can do to make the process a little less daunting and help you get your head around VAT. We also answer some of your questions so be sure to listen in for more information. And remember, if you need any help with registering for VAT or anything else related to your business finances, our team is here to support you every step of the way.

Check this link to learn more about financial statements.  I invite you to join my Numbers Know How Financial Story Plan Community. I’d love to have you there!

Check out my I Hate Numbers YouTube channel,  Subscribe to I Hate Numbers now so you don’t miss an episode.  My book, I Hate Numbers will change your relationship with numbers and money, in a good way.  Check out what people have said, buy the book and make your own mind up, you won’t be disappointed.

Why should you use ratios to make financial judgments?  Well, are you curious how well your business is doing financially? Or maybe you're looking to acquire or invest in a business and want to know what to look for? Ratios are a great way to judge a company's financial performance. In this weeks podcast I'll go over the most common ratios and what they mean for your business.

To be a successful business owner, you need to be able to judge your company's financial performance. One way to do this is by using ratios. Ratios can help you see whether your company is making money and growing or whether it's struggling.

In this podcast I'll explain what ratios are and how to use them to assess your business' financial health. Check out the I Hate Numbers You Tube channel to see a worked example. use these example ratios as a guide. So, if you're interested in learning more about ratios and how they can help you gauge your company's financial well-being, listen to find out more!

In order to make good financial decisions for your business you need to know how to use ratios to make financial judgments.  Whether you’re the one in charge of making them or advising those who are- it’s important that you understand how to judge performance. Ratios are a popular and accessible way to do this, but there are many different ways to look at finances. No matter where you stand on the spectrum of financial know-how, I hope this video has helped introduce you to the basics of ratio analysis and shown you how informative and valuable it can be when used correctly.

Check this link to learn more about financial statements.  I invite you to join my Numbers Know How Financial Story Plan Community. I’d love to have you there!

Check out my I Hate Numbers YouTube channel,  Subscribe to I Hate Numbers now so you don’t miss an episode.  My book, I Hate Numbers will change your relationship with numbers and money, in a good way.  Check out what people have said, buy the book and make your own mind up, you won’t be disappointed.

If you found this podcast useful then share this episode on social, leave a review on Apple podcast.  Connect with me on Instagram, YouTube, Twitter, LinkedIn and Facebook.

There's no doubt that Using financial ratios in business are one of the most important tools that business owners have in their toolkit. By using financial ratios, you can get a better understanding of how your business is performing, and make changes to improve your bottom line. But what are financial ratios, and how do you use them?

Are you curious about what financial ratios are and how they're used in business? Wonder no more! In this podcast I will

• Firstly, look at what a ratio is
• Secondly, the source documents, where the information comes form
• Thirdly, the four areas traditionally examined
• Finally, limitations of using financial ratios in business

I’ll explain why they're important.  Stay tuned - your business savvy is about to get a major boost!

In weeks I Hate Numbers podcast I'll break it all down for you! So listen on to learn more about financial ratios, and how to put them to work for your business.

Financial ratios are important tools that business owners can use to make informed decisions about their businesses.

In this podcast, I looked at financial ratios , what they are, where the information comes from, and the four areas traditionally examined.

However, it's important to note that financial ratios should not be used in isolation and should be considered along with other sources of information.

Check this link to learn more about financial statements.  I invite you to join my Numbers Know How Financial Story Plan Community. I'd love to have you there!

Check out my I Hate Numbers YouTube channel,  Subscribe to I Hate Numbers now so you don’t miss an episode.  My book, I Hate Numbers will change your relationship with numbers and money, in a good way.  Check out what people have said, buy the book and make your own mind up, you won’t be disappointed.

If you found this podcast useful then share this episode on social, leave a review on Apple podcast.  Connect with me on Instagram, YouTube, Twitter, LinkedIn and Facebook.

If you're a business owner, then measuring your financial performance, keeping track of it is essential to your success.  But do you know how to measure it?  In this podcast, I'll explain two important metrics for measuring your business's financial performance.

If you want to make sure your business is on track financially, keep reading!

No one ever said that being in business was easy – it takes a lot of hard work and dedication to be successful. But one of the most important things you can do is measure your financial performance so you can stay on track and make sure your efforts are paying off.

So listen to find out more for tips on how to measure your business's financial performance!

The bottom line is, measuring your financial performance is necessary if you want your business to survive and thrive. You need to know where you're at so you can make informed decisions about the future of your company.

That's why I want to share this podcast with you.  In it, I talk about how to do a financial review, two key numbers and what benefits you can expect from doing one.

I also introduce my Numbers Know How Financial Story Plan Community where business owners like you can come together to help each other grow and succeed financially.

If this sounds like something you want to learn more about, join my Numbers Know How Financial Story Plan Community, connect to my I Hate Numbers YouTube channel,  I’d love to have you there!

Subscribe to I Hate Numbers now so you don’t miss an episode.  My book, I Hate Numbers will change your relationship with numbers and money, in a good way.  Check out what people have said, buy the book and make your own mind up, you won’t be disappointed.

If you found this podcast useful then share this episode on social, leave a review on Apple podcast.  Connect with me on Instagram, YouTube, Twitter, LinkedIn and Facebook.

If you're like most business owners, you think of being financially accountable as a necessary evil. It's something that you have to do, but it's not always fun or interesting. However, what if I told you that being financially accountable can actually be good for you? Believe it or not, there are a lot of benefits to being responsible with your money. So if you're looking for a reason to start tracking your finances, listen to find out more.

You've heard the saying "time is money." Well, that's especially true for entrepreneurs and small business owners. The more efficiently you use your time, the more money you make. Money management is essential to your success.  One way to improve your money management skills is to be more financially accountable.

So, being financially accountable is a good thing. How do you go about being financially accountable? By having a financial story plan and following it. What's your Northern star?

What's the end goal that you are working towards? Once you know that, everything else falls into place. You can start to map out how much money you need, where it needs to come from, what resources you'll be using along the way and all of the other bits and pieces that go into making up a successful financial journey.

If this sounds like something you want to learn more about, join my Numbers Know How Financial Story Plan Community, connect to my I Hate Numbers YouTube channel,  I'd love to have you there!

Subscribe to I Hate Numbers now so you don’t miss an episode.  My book, I Hate Numbers will change your relationship with numbers, in a good way.  Check out what people have said, buy the book and make your own mind up, you won’t be disappointed.

If you found this podcast useful then share this episode on social, leave a review on Apple podcast.  Connect with me on Instagram, YouTube, Twitter, LinkedIn and Facebook.

Are you interested in achieving business success ?  If so, read on ?

Wonder no more! Today, I will discuss the three essential steps you need to take in order to achieve success.

These three steps are summed up in the 3 As

• Firstly, Attitude
• Second, Approach, and
• Thirdly, Activity.

Let's explore each one in detail so that you can start using them today!

Anyone who's ever started their own business knows that it can be a daunting task. You're responsible for every aspect of your company, from marketing and sales to finances and production.

Running a business is not easy, being decent and kind to others in business and life is easy.  However with hard work and a bit of know-how, you can make your business a success.

And the best way to learn is to look at what works for others. By following these simple guidelines, you'll be on your way to making your company thrive. Let's get started!

So what are the things that you need to do in order to increase your chances of achieving business success? There is no one-size-fits-all answer.  However I can give you a few pieces of advice based on my own personal experience and the experiences of others.

First and foremost, work hard. Luck is a dividend of sweat. The more you sweat, the luckier you get- Ray Kroc . Don't be afraid to ask for help or take advice from those who have been successful. Finally, stay positive and keep your head up – remember that failure is not final!

I hope this podcast episode has helped clear some things up for you and given you a better understanding of how to achieve your own success.

Subscribe now so you don’t miss an episode.  For more business and finance, news, advice and tips, don’t forget to subscribe and watch our weekly videos on I Hate Numbers.

My book, I Hate Numbers will change your relationship with numbers, in a good way.  Click to find our more.  You can join our Financial Planning Story Community at Numbers Know How.  Planning tools, knowledge learning and development and so much more we are adding.  Click to discover more

If you found this podcast useful then share this episode on social, leave a review on Apple podcast.  Connect with me on Instagram, YouTube, Twitter, LinkedIn and Facebook.

If you're running a business, you need to need to factor in that bookkeeping is big deal. Are you serious about your business and keeping on top of your finances? If your answer is yes, and I hope it is then keep track of your financial transactions.

You may think it’s a daunting task, but it doesn’t have to be that way once you get the hang of it

Let’s look at some of the reasons why

• Firstly, It keeps you organized and in control of your finances;
• Secondly It helps you make informed decisions about your business.
• Thirdly It can protect you from mistakes and financial disaster.
• Furthermore, good bookkeeping practices can help improve your business' bottom line.

So, what are you waiting for? Listen to find out more. I want you to start keeping track of your books today!

Your financial story

Every story needs words. Every story needs a narrative. Your business story is no exception. Except the words to that story. Are your numbers. And what are those numbers come from? They come from the records that you keep what we might call bookkeeping. In this podcast episode,

Like it or not, bookkeeping is important for your business. It's the process of recording and tracking financial transactions over time.

This information can

• help you make sound business decisions
• assess your company's financial health
• plan for your future

If you want more information or would like to subscribe so you never miss an episode, head

So, if you're still with me and haven't hit the unsubscribe button yet, thank you! You are someone who understands that numbers don't have to be scary - in fact, they can tell an amazing story about your business.

Moreover, I hope you can see Why Bookkeeping is a Big Deal.  It's the way to capture those numbers and puts them into a format that makes sense. It's also one of the most important things you can do for your business because it reduces stress and anxiety. And finally, it's crucial to choose the right digital accounting system for your needs.  Digital and Cloud Accounting is the way forward.  Check out my FREE guide 'Release the Power in You' and find out more about the Why, the What, and the How of Digital and Cloud Accounting.

I hope this podcast episode has helped clear some things up for you and given you a better understanding of bookkeeping.

Subscribe now so you don’t miss an episode.  For more business and finance, news, advice and tips, don’t forget to subscribe and watch our weekly videos on I Hate Numbers.

My mission is to inform, inspire and educate you to get closer to your numbers.  You can make more profits, save tax and time, improve your well-being and your money mindset.  There are lots of ways to do this, you’re spoilt for choice,

My book, I Hate Numbers will change your relationship with numbers, in a good way.  Click to find our more.  You can join our Financial Planning Story Community at Numbers Know How.  Planning tools, knowledge learning and development and so much more we are adding.  Click to discover more

Help me to help you and others by subscribing and sharing this episode in your network.  Listen now and subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates.

If you found this podcast useful then share this episode on social, leave a review on Apple podcast.  Connect with me on Instagram, YouTube, Twitter, LinkedIn and Facebook.

In this episode, we explore the Operating Profit Margin and its significance for your business. The Operating Profit Margin is a crucial metric that shows how much profit your business generates from its core operations after covering costs such as operating expenses and the cost of goods sold. Knowing how to calculate and interpret this margin is essential for any business owner.

Firstly, calculating the Operating Profit Margin involves dividing the operating profit by the total revenue and then multiplying by 100 to get a percentage. For instance, if your business has £100,000 in revenue, £50,000 in the cost of sales, and £30,000 in operating expenses, the operating profit is £20,000. Consequently, dividing £20,000 by £100,000 results in a margin of 20%. This percentage provides a clear indication of how effectively your business is managing its costs relative to its revenue.

Several factors can have an impact. Industry standards, the size of your business, and management decisions all play a crucial role. For example, margins in the aviation industry are often lower compared to those in the hospitality sector. Hence, it is important to compare your margin with similar businesses or against your own historical performance. Moreover, investments in infrastructure or changes in operations can also affect your margin over time. By regularly reviewing these factors, you can gain valuable insights into your business’s performance.

Understanding your Operating Profit Margin is vital because it helps you gauge how efficiently your business is running. A high margin indicates that your business is controlling its costs effectively and generating a substantial amount of profit from its operations. Conversely, a low margin may suggest issues such as high operating costs or insufficient sales. Therefore, monitoring your margin can help you identify areas needing improvement and make informed decisions to enhance profitability.

To sum up, tracking and understanding your Operating Profit Margin is key to ensuring your business’s success. It provides important insights into how well your business is performing and where improvements can be made. For more tips and guidance on managing your business finances, be sure to listen to the I Hate Numbers podcast.

If you're like most people, at some point in your life you've felt like a fraud. Almost like you're not really qualified to do the job you're doing, or that someone is going to figure out you're a total fake and expose you for the fraud you are.

This phenomenon is known as Imposter Syndrome, and it's estimated that 70% of people experience it at some point in their lives.

In this episode of my I Hate Numbers podcast I'll explore

• Firstly, what Imposter Syndrome is
• Secondly why it happens
• Thirdly, looking at the five types of Impostor as identified by Dr. Valerie Young
• Lastly, Overcoming Impostor Syndrome – and it’s more than fixing you!

Listen to find out more

is a phenomenon that affects many people and can cause feelings of self-doubt and insecurity.

Sheryl Sandberg expressed the feelings of millions ‘There are still days when I wake up feeling like a fraud, not sure I should be where I am.’

There are millions of people who experience imposter syndrome at some point in their lives. It is said to affect about 70 % of people at some point in their lives.

Fame doesn’t make you immune, and high profile such as Michelle Obama, Michele Pfeiffer, Oprah Winfrey, Tom Hanks, Maya Angelou, and Mahmood Reza have all experienced Impostor Syndrome.

We are in good company.

So, if you’re feeling like a fraud and want to learn how to overcome imposter syndrome, watch to find out more

Why is Overcoming Impostor Syndrome such a big deal in business?  Well, as business owners, employers, and Entrepreneurs we want to get the best out of ourselves. That’s got to be a good thing.

Suppressing all those talents, skills and capabilities is not good for workplace cultures, driving your business forward and your sustainability. Did I mention that you are leaving money on the table by not Overcoming Impostor Syndrome?

In this weeks podcast I talk about what Impostor Syndrome is, the signs that you might be struggling with it, and how to start overcoming it. In short, if you feel like a fraud and constantly worry that people will find out you are not as smart or capable as they think you are, you might be experiencing Imposter Syndrome.

The good news is that there are things you can do to start building your confidence and feel more like a legitimate member of your field.

Subscribe now so you don’t miss an episode.  For more business and finance, news, advice and tips, don’t forget to subscribe and watch our weekly videos on I Hate Numbers.

Furthermore, my mission is to inform, inspire and educate you to get closer to your numbers.  You can make more profits, save tax and time, improve your well-being and your money mindset.  My book, I Hate Numbers will change your relationship with numbers, in a good way.  Click to find our more.

Help me to help you and others by subscribing and sharing this episode in your network.  Listen now and subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates.

If you found this podcast useful then share this episode on social, leave a review on Apple podcast.  Connect with me on Instagram, YouTube, Twitter, LinkedIn and Facebook.

Inexplicably completing forms SS-4 8832 are not at the forefront of people’s minds. Hear those words, and you may be looking for that drying paint.

However, if you are a non-US resident company receiving income from the United States, then you need to

• Firstly pause
• Secondly, listen to episode 119 of my I Hate Numbers podcast
• Lastly, watch the drying paint later.

Your nonresident income is liable to have 30% held back if you don’t complete form W-8BEN-E.  Check out episode podcast episode 68 for the audio, and my YouTube video if you want to see what goes in the form.

It doesn’t stop there.  If you are a business owner with just yourself as the only shareholder, then two more forms to add.  What are those forms I hear you ask.  Great question, Those forms are

IRS forms

• SS-4; and
• 8832

The idea of completing IRS Forms SS-4 and 8832 may make you feel like your head is going to explode. You're not alone! Completing these forms can be confusing, but it doesn't have to be.

In this weeks episode, I'll walk you through the process step by step, and make it as simple as possible.

You can ignore these forms if you wish.  That’s not such a good idea

Not completing and submitting form W-8BEN-E means your US client can and will have to withhold up to 30% of your US income. That's 30&% OF financial pain. Thanks, Uncle Sam!

What about forms SS4 and 8832? Well, not all tax jurisdictions are created equally. And the IRS does not recognise single member companies as corporations. So, step forward those extra forms.

So, there you have it. The process of reclassification for a single member shareholder company is made easier.  However, it is important to remember the two steps involved. Applying for an EIN and then form 8832.  Do you fancy seeing what the forms look like, and what goes into them?  Then check out my You Tube video , even better subscribe to the channel.

Don’t forget to download, subscribe and please leave a comment – that helps me write I love getting feedback from listeners – hearing from you helps me make my content even better. Thanks for tuning in!

Subscribe now so you don’t miss an episode.  For more business and finance, news, advice and tips, don’t forget to subscribe and watch our weekly videos on I Hate Numbers.

Furthermore, my mission is to inform, inspire and educate you to get closer to your numbers.  You can make more profits, save tax and time, improve your well-being and your money mindset.  My book, I Hate Numbers will change your relationship with numbers, in a good way.  Click to find our more.

Help me to help you and others by subscribing and sharing this episode in your network.  Listen now and subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates.

If you found this podcast useful then share this episode on social, leave a review on Apple podcast.  Connect with me on Instagram, YouTube, Twitter, LinkedIn and Facebook.

Do you ever find yourself putting off important tasks, like Procrastinating when Financial Planning ?  You're not alone. Procrastination can be a major obstacle to getting things done. But don't worry, there are ways to overcome it. In this blog post, we'll explore some tips for stopping procrastination when it comes to financial planning. So read on and get started!

Financial planning is an important aspect of any business, but it can be tough to get started when you're feeling overwhelmed or procrastinating. Here are a few tips to help you get started and stay on track.

If you're a business owner, it's important to have a financial plan in place. This will help you stay on track and make sure your business is doing well financially. There are a few things you need to include in your financial plan: your budget, your income and expenses, and your forecast. Having a financial plan will help you make informed decisions about your business' future. Check out our sister site Numbers Know How to get practical help and support . This will help you create a plan that works for your business. Don't wait - start planning for your business' financial future today!

So, there you have it. Procrastination in a nutshell. Now that we understand what it is and why it happens, let’s look at some ways to stop procrastinating and get moving on our financial story plan. Just remember, the key is making that connection between your goal and your financial story plan.  Once you do that, taking action becomes a lot easier. Are you ready to get started? Don't forget to subscribe to I Hate Numbers so you never miss another post and leave me a comment letting me know how you're planning on stopping procrastination in its tracks!

Thanks for joining me this week as I explored one of the biggest challenges facing entrepreneurs today.  How to reduce Procrastination  ! Don’t forget to download, subscribe and please leave a comment – that helps me write I love getting feedback from listeners – hearing from you helps me make my content even better. Thanks for tuning in!

Subscribe now so you don’t miss an episode.  For more business and finance, news, advice and tips, don’t forget to subscribe and watch our weekly videos on I Hate Numbers.

Furthermore, my mission is to inform, inspire and educate you to get closer to your numbers.  You can make more profits, save tax and time, improve your well-being and your money mindset.  My book, I Hate Numbers will change your relationship with numbers, in a good way.  Click to find our more.

Help me to help you and others by subscribing and sharing this episode in your network.  Listen now and subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates.

If you found this podcast useful then share this episode on social, leave a review on Apple podcast.  Connect with me on Instagram, YouTube, Twitter, LinkedIn and Facebook.

Are you one of those people who has a lot of good intentions but never seems to get around to doing anything? If so, you may be struggling with procrastination. Procrastination is the act of delaying or postponing something that needs to be done.

It can be tempting to put things off, procrastination can actually have some pretty negative consequences.

• Firstly, decreased productivity
• Secondly, lower quality work
• Thirdly, stress and anxiety

So how can you overcome procrastination and start getting things done? Check out these tips!

In this weeks I hate numbers. I am going to be talking about what procrastination is, how it manifests itself, the signs, the symptoms we can recognize, and more importantly, what we can do to improve procrastination so that it moves our business dial forward. Procrastination is a huge issue for many people because it keeps them from achieving their goals. It’s important to understand what procrastination is and how it affects us so that we can take steps to reduce its impact on our lives and businesses.

Conclusion

Thanks for joining me this week as I explored one of the biggest challenges facing entrepreneurs today.  How to reduce Procrastination  ! Don't forget to download, subscribe and please leave a comment - that helps me write I love getting feedback from listeners – hearing from you helps me make my content even better. Thanks for tuning in!

Subscribe now so you don’t miss an episode.  For more business and finance, news, advice and tips, don’t forget to subscribe and watch our weekly videos on I Hate Numbers.

Furthermore, my mission is to inform, inspire and educate you to get closer to your numbers.  You can make more profits, save tax and time, improve your well-being and your money mindset.  My book, I Hate Numbers will change your relationship with numbers, in a good way.  Click to find our more.

Help me to help you and others by subscribing and sharing this episode in your network.  Listen now and subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates.

If you found this podcast useful then share this episode on social, leave a review on Apple podcast.  Connect with me on Instagram, YouTube, Twitter, LinkedIn and Facebook.

Using the balance scorecard plays a major role in managing your business.  You're a business owner, so you know that making money is important. But it's not the only thing that matters.

You need to have a balanced perspective when looking at your business. That means looking at the numbers and dollar signs, but also customer and employee satisfaction, innovation , and more.

When everything is in balance, it's easy to stay on track and make good decisions for your business.

Check out my podcast episodes to learn more about how I can help you take a balanced view of your business!

Using the balance scorecard is so important to have a balanced perspective when looking at your business. You can’t just look at the numbers and dollar signs- you also need to factor in other elements like customer satisfaction, employee morale, innovation potential, and more.

Without this balance, it’s easy to get off track and make poor decisions that could hurt your business in the long run.

I want to help you maintain a well-rounded view of your business so you. And if you have any thoughts or comments on today’s episode (or previous ones), please head over to Apple podcasts and leave us a review! We love hearing from our listeners, and we’ll be sure to stay in touch through our social media channels as well. Thanks for joining us today – until next time!

I love getting feedback from listeners – hearing from you helps me make my content even better. Thanks for tuning in!

Subscribe now so you don’t miss an episode.  For more business and finance, news, advice and tips, don’t forget to subscribe and watch our weekly videos on I Hate Numbers.

Furthermore, my mission is to inform, inspire and educate you to get closer to your numbers.  You can make more profits, save tax and time, improve your well-being and your money mindset.  My book, I Hate Numbers will change your relationship with numbers, in a good way.  Click to find our more.

Help me to help you and others by subscribing and sharing this episode in your network.  Listen now and subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates.

If you found this podcast useful then share this episode on social, leave a review on Apple podcast.  Connect with me on Instagram, YouTube, Twitter, LinkedIn and Facebook.

Do you approach money with a positive or negative mindset? If you don't have a clear answer, it's time to think about how your money mindset is impacting your finances. Having a positive money mindset leads to better financial decisions and improved financial health. Conversely, having a negative money mindset can lead to debt, financial stress, and other money woes. So, how do you change your money mindset for the better? Luckily, there are some simple steps that you can take to get started. Check out this blog post for more information on how to cultivate a positive money mindset and improve your finances!

So, what have we learned? Well, your money mindset is vitally important. It influences how you save money, how you spend money, and your whole reaction to that here in the world of finances. We hope that this podcast has given you some tools to work on your own money mindset – both for the good and for the bad. And if you have any thoughts or comments on today's episode (or previous ones), please head over to Apple podcasts and leave us a review! We love hearing from our listeners, and we'll be sure to stay in touch through our social media channels as well. Thanks for joining us today – until next time!

I love getting feedback from listeners – hearing from you helps me make my content even better. Thanks for tuning in!

Subscribe now so you don’t miss an episode.  For more business and finance, news, advice and tips, don’t forget to subscribe and watch our weekly videos on I Hate Numbers.

Furthermore, my mission is to inform, inspire and educate you to get closer to your numbers.  You can make more profits, save tax and time, improve your well-being and your money mindset.  My book , I Hate Numbers will change your relationship with numbers, in a good way.  Click to find our more.

Help me to help you and others by subscribing and sharing this episode in your network.  Listen now and subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates.

If you found this podcast useful then share this episode on social, leave a review on Apple podcast.  Connect with me on Instagram, YouTube, Twitter, LinkedIn and Facebook.

Using a Risk Register to manage risks is this week's I Hate Numbers podcast

When it comes to risk management, most business owners and entrepreneurs think of insurance policies and legal contracts. While these are both important aspects of risk management, they're not the only ones. In fact, there are a number of other tools that can be used to help you identify and manage risks, both big and small.

One such tool is a risk register. Let's look at what a risk register is and how you can use it in your business.

• Firstly, a reminder of what risk is
• Secondly, the benefits of a risk register
• Thirdly, how to build a risk register
• Fourthly, quantifying risk with examples
• Lastly, how to use a risk register

So there you have it! You now know what a risk register is, some of the benefits of using one, and how to build your own. We’ve also looked at ways to quantify risk, which will come in handy when making decisions about whether or not to take a particular risk. As with any tool, the key is to Using a Risk Register effectively is making sure it’s tailored to your specific needs. If you want more information on risk registers or other ways to manage risk, be sure to subscribe to my podcast and leave a review. I love getting feedback from listeners – hearing from you helps me make my content even better. Thanks for tuning in!

Subscribe now so you don’t miss an episode.  For more business and finance, news, advice and tips, don’t forget to subscribe and watch our weekly videos on I Hate Numbers.

Furthermore, my mission is to inform, inspire and educate you to get closer to your numbers.  You can make more profits, save tax and time, improve your well-being and your money mindset.  My book , I Hate Numbers will change your relationship with numbers, in a good way.  Click to find our more.

Help me to help you and others by subscribing and sharing this episode in your network.  Listen now and subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates.

If you found this podcast useful then share this episode on social, leave a review on Apple podcast.  Connect with me on Instagram, YouTube, Twitter, LinkedIn and Facebook.

Dealing with business risk is an inevitable part of our business lives

Risk is a part of life. For entrepreneurs, self-employed professionals, and small business owners, risk is unavoidable and part of our business lives. Whether it's the risk of losing money on a new venture or the risk of not being able to meet customer demands. Furthermore, we face risks every day. Knowing how to deal with business risk is essential for success. In this episode, we'll explore some tips for managing risk in your business. Stay tuned!

If you're a business owner, entrepreneur, or self-employed person, then you know that numbers are a big part of the game. But what if you hate numbers? What if you feel lost and intimidated by them? That's where my podcast comes in – I Hate Numbers. Join me as we explore everything from bookkeeping to budgeting to taxes. I'll make it all accessible and simple for you, so you can focus on what you're good at – running your business! And if you like the podcast, be sure to rate and review it on Apple Podcasts or your other favourite platform. Thanks for listening!

My book, I Hate Numbers will change your life by changing your relationship with numbers. But that’s not all, the principles in this book can be applied to every area of your life for lasting change. If you’re ready to take control of your money mindset and attitude, then head over to Amazon and pick up a copy of my book. You won’t regret it!  And if you want even more help and support on your business journey, make sure to subscribe to my podcast so you can keep in touch. I release new episodes every week packed full of tips, strategies and insights that will help you grow your business (and sanity!) exponentially. Until next time!

So in this podcast in Dealing with Business Risk I talk about what risk is and why it matters so much to businesses, namely

• What risk is
• How to group and categorise risk
• The different actions available to us when it comes to mitigating that risk.

In the next episode, we'll be looking at specific examples of risks and how best to deal with them. If you're interested in finding out more, make sure you subscribe to my YouTube channel so you don't miss out! Thanks for listening!

Subscribe now so you don't miss an episode.  For more business and finance, news, advice and tips, don’t forget to subscribe and watch our weekly videos on I Hate Numbers, listen to our weekly podcast I Hate Numbers

My podcast will help

Listen to find out more.

Furthermore, my mission is to inform, inspire and educate you to get closer to your numbers.

You can make more profits, save tax and time, improve your well-being and your money mindset.

Help me to help you and others by subscribing and sharing this episode in your network.  Listen now and subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates.

If you found this podcast useful then share this episode on social, leave a review on Apple podcast.  Connect with me on Instagram,

YouTube, Twitter, LinkedIn and Facebook.

When it comes to financial planning for your business, there are many things to consider. One important part of your overall plan is your financial story plan. This document lays out how you expect your business finances to grow and change over time. It can be a great resource for both you and your team. Listen to find out the four tips on how to create and use your financial story plan effectively.

If you’ve been following along, hopefully you’re now convinced of the importance of a money mindset and how it can benefit your personal finances, business profitability, and even tax savings. And if that’s the case, please do me a favor and leave me a rating and review on Apple Podcasts. This is important not just for me but for other listeners who may be on the fence about whether or not my podcast is right for them. It also helps more people find my show so they can improve their own money mindset. So thank you in advance! And don’t forget to subscribe to my show so you never miss an episode.

If you want to achieve your financial goals and reduce the anxiety that comes with money, then you need a plan. The four steps we’ve outlined are essential for creating and following a plan that will help guide you to success. Make sure to subscribe so you don’t miss an episode – each one is packed with information that will help you improve your finances and live a less stressful life.

Subscribe now so you don't miss an episode.  For more business and finance, news, advice and tips, don’t forget to subscribe and watch our weekly videos on I Hate Numbers, listen to our weekly podcast I Hate Numbers. Furthermore my book  I Hate Numbers will change your life, by changing your relationship with numbers.

My podcast will help

Listen to find out more.

Furthermore, my mission is to inform, inspire and educate you to get closer to your numbers.

You can make more profits, save tax and time, improve your well-being and your money mindset.

Help me to help you and others by subscribing and sharing this episode in your network.  Listen now and subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates.

If you found this podcast useful then share this episode on social, leave a review on Apple podcast.  Connect with me on Instagram,

YouTube, Twitter, LinkedIn and Facebook.

It can be easy to put off creating your business financial story plan - after all, who has time for that? But don't underestimate the importance of this document. Your business financial plan is vital, serving as both your road map and your trusty friend. With it, you can keep track of your progress and adjust where necessary. Plus, you'll have a better understanding of your company's financial health and how to improve it. So don't wait - start writing your business financial story today!

No one ever said that starting and running your own business would be easy, and it's certainly not. But if you're looking to make your business a success, one of the most important things you can do is create and stick to a well-written financial plan. That may seem like a daunting task, but don't worry – this podcast is here to help.

In this podcast I'll explain

• Firstly, the benefits of creating your financial story
• Secondly, how to start with your business story, no numbers
• Thirdly, dealing with money in and money out
• Lastly, putting you story together

Whether you're just getting started or you've been struggling to stay on track, listen on for everything you need to know about putting together a winning business financial strategy.

If you're like most business owners, you know that a well-written business financial plan is a vital part of your success. But what many people don't realise is that your business financial story is just as important. In fact, it can be the key to getting things done. So how do you make sure your story is effective? Here are a few tips to help you get started.

Creating and following your business financial story plan is critical for your business success. By taking the time to develop a financial story that outlines where you are, where you want to be, and how you're going to get there, you create a living document that will help guide your decision making now and into the future.

Subscribe now so you don't miss an episode.  For more business and finance, news, advice and tips, don’t forget to subscribe and watch our weekly videos on I Hate Numbers, listen to our weekly podcast I Hate Numbers.  There is even the book I Hate Numbers that is must, but easy to read

My podcast will help

Listen to find out more.

Furthermore, my mission is to inform, inspire and educate you to get closer to your numbers.

You can make more profits, save tax and time, improve your well-being and your money mindset.

Help me to help you and others by subscribing and sharing this episode in your network.  Listen now and subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates.

If you found this podcast useful then share this episode on social, leave a review on Apple podcast.  Connect with me on Instagram,

YouTube, Twitter, LinkedIn and Facebook.

In this episode of the I Hate Numbers podcast, we explore "Inheritance Tax Exemptions and Reliefs." We'll explain the key elements that affect inheritance tax, including thresholds, gifts, and the importance of keeping records.

Inheritance tax began in 1986, replacing capital transfer tax. This tax applies to the transfer of capital value when an individual dies, certain lifetime gifts when the donor passes away within seven years, and some gifts taxed immediately. However, not everyone pays inheritance tax. Only estates exceeding the current threshold of £325,000, including any assets held in trust and gifts made within seven years of death, are liable for this tax.

Married couples and registered civil partners can increase their threshold to as much as £650,000 when the second partner dies. To achieve this, the personal representatives must transfer the unused inheritance tax threshold from the first spouse or civil partner to the surviving partner. Additionally, any assets transferred between spouses or civil partners remain free from inheritance tax. However, this exemption does not apply to assets transferred to others.

Several exemptions allow you to avoid inheritance tax on gifts. Gifts to your spouse, UK charities, national institutions, and political parties remain exempt from inheritance tax. Wedding or civil partnership gifts can also be given tax-free: £5,000 for each parent, £2,500 for grandparents or other relatives, and £1,000 for others.

An annual exemption allows you to give up to £3,000 each tax year without inheritance tax implications. Smaller gifts of up to £250 per person per year are also allowed, but cannot be combined with other exemptions. Thoughtful planning of your gifts can reduce the taxable value of your estate significantly.

Accurate record-keeping of all gifts and exemptions used is crucial. Such records assist executors or personal representatives in efficiently managing estate matters and claiming all available exemptions. Clear documentation simplifies the completion of probate forms and ensures you avoid unnecessary tax payments.

By understanding inheritance tax exemptions and reliefs, we make better decisions for our financial future. We encourage you to listen to the I Hate Numbers podcast for more insights on this topic and other tax matters. For more information or assistance, check out the show notes to book a call with us.

Until next week, happy planning!

How to do your personal budget is this week’s I Hate Numbers podcast topic

How to do your personal budget is the answer! It will help you keep track of where your money is going and how to make the most of it.

With a budget in place, you’ll have more control over your life and less anxiety about the future. You’ll know where you stand financially and be able to make better decisions about your money. Start budgeting today with our easy guide!

If you're like many people, you may not have a firm grip on your personal budget. You may feel like you're constantly struggling to make ends meet, or that you can't seem to save any money. But it doesn't have to be this way! There are plenty of simple techniques and strategies that you can use to get your finances in order. In this podcast, I'll teach you how to do your personal budget.

So whether you're looking to get out of debt or just want a little more financial stability, read on for tips and advice!

When it comes to personal budgeting, there are several key benefits that can improve your overall finances and wellbeing.

So, if you're feeling lost and uncertain about your personal finances, don't worry, you're not alone. But there is help out there. And the first step is to understand that money isn't everything. It's just a tool. Once you have that mindset, then it's time to get serious about dealing with your debt and creating your personal budget that works for you.

Subscribe so you don't miss an episode where we'll be delving even deeper into these topics and giving you concrete steps on how to take control of your life and your money.

For more business and finance, news, advice and tips, don’t forget to subscribe and watch our weekly videos on I Hate Numbers, listen to our weekly podcast I Hate Numbers.  There is even the book I Hate Numbers that is a must, but easy to read

My podcast will help

Listen to find out more.

Furthermore, my mission is to inform, inspire and educate you to get closer to your numbers.

You can make more profits, save tax and time, improve your well-being and your money mindset.

Help me to help you and others by subscribing and sharing this episode in your network.  Listen now and subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates.

If you found this podcast useful then share this episode on social, leave a review on Apple podcast.  Connect with me on Instagram,

YouTube, Twitter, LinkedIn and Facebook.

How to change your approach to money builds on last weeks episode. You can, and should change your approach to money to supercharge your finances. If you find you don’t handle money well, don’t save money, or just don’t know how to budget, here are seven ways to change your money mindset.

We all have fears when it comes to money. Ignoring them doesn’t help anything though. Instead, you need to sit with them and get comfortable with them. When you recognize your fears, you can find ways to push through them.

If you let fear run your life, you won’t make good financial decisions or any decisions because you’ll feel stuck in your tracks. Instead, acknowledge anything you’re afraid of with money and take baby steps to overcome the fears.

You can’t achieve financial goals if you don’t set them. No matter what you think about money and how you handle it, set financial goals

You can’t budget or save if you don’t know why you’re budgeting or saving. Write down your goals, both short-term and long-term. Make sure they are SMART goals

You are who you surround yourself with so it’s important to spend time with people that have the same money goals as you.

If you spend your time around people that complain about being broke and live a scarcity lifestyle, you’ll start doing the same. Instead, surround yourself with people that have the same beliefs about money that you do.

They don’t have to be identical goals, but at least surround yourself with people that have a positive money mindset and aren’t negative in general so you don’t start acting negative too.

If you want to change your approach to money then don't compare yourself to others.  The only person you should compare yourself to is you. Don’t try to compete with anyone else or keep up with the Joneses. Set your own financial goals and find ways to achieve them.

You do what’s right for you and find ways to make your goals happen. But don’t let other people’s successes or failures change how you think about yourself. For example, if your neighbor buys a BMW, don’t let yourself feel less than because you drive a Toyota. You never know what type of debt your neighbor put himself in to buy that BMW.

Even if retirement is 20+ years away, dream about it. What will you do in retirement? At what age do you want to retire? Do you want to work or be completely free?

Even if you’re drowning in debt and don’t have any money in your emergency fund, believe that you’ll get there and make it happen.

We’re all programmed to focus on the negative things in our lives, but what about the positives? Moreover, look for the positives you’ll find them, just like if you look for the negatives, you’ll find them.

Take, for example, your debt. You might look at it and think ‘I’m such a loser, I have $5,000 in credit card debt and I’ll never get out of it’ or you could look at it and say, ‘I’ve knocked my debt down from $7,000 to $5,000, if I keep going, I’ll be out of debt before I know it.’

You can’t be financially successful if you don’t know your why. Think about the reasons you want to be financially successful.

In your money mindset do you want to create a future for you and your family?  Does debt make you feel stressed? Write down your why and keep it posted so you can see it. When things get tough, always go back to your why.

Knowing how to change your approach to money, your money mindset has a positive impact on your personal finances. The way you think about money consciously and subconsciously has a big impact on how you deal with your personal finance.

For more business and finance, news, advice and tips, don’t forget to subscribe and watch our weekly videos on I Hate Numbers, listen to our weekly podcast I Hate Numbers.

My podcast will help

Listen to find out more.

Furthermore, my mission is to inform, inspire and educate you to get closer to your numbers.

You can make more profits, save tax and time, improve your well-being and your money mindset.

Help me to help you and others by subscribing and sharing this episode in your network.  Listen now and subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates.

If you found this podcast useful then share this episode on social, leave a review on Apple podcast.  Connect with me on Instagram,

YouTube, Twitter, LinkedIn and Facebook.

Money is one of the most important things in our lives, but it's also one of the most misunderstood. We often think of money in terms of how much we have, and how we can get more of it. But what if we thought of money differently? What if we approached it as a tool to help us achieve our goals? In this podcast, I'll explore why Changing your money mindset can get you to start using money to your advantage.

At its core, money is simply a tool. It's a way to exchange value and achieve goals. But too often, people view money as an end goal in and of itself. This can lead to all sorts of problems, including debt, stress, and even depression. If you want to be successful with your finances, it's important to change your money mindset and start viewing money as a means to an end. With the right attitude, you can use money to improve your life instead of letting it control you. So how do you go about changing your money mindset? It starts with understanding what money really is and realizing that you have the power to create your own financial destiny. Once you make this shift in thinking, you'll be on the

If you want to change your financial situation, you need to change your mindset about money. Too often, we think of money as something that's scarce, when in reality it's plentiful if we manage it correctly. By changing your mindset, you can start making smarter decisions with your finances and begin to build wealth. Here are a few tips on how to change your money mindset and improve your financial future!

So, what have we learned? Your mind has a lot to do with your personal finances. The way you think about money consciously and subconsciously has a big impact on how you deal with your personal finance. In next week's episode, we're going to talk about some ways to change your money mindset and start getting ahead financially. But for now, I want to hear from you. What did you think of this video? Did it open your eyes to something new? Leave me a comment below and let me know. And don't forget to subscribe so you don't miss an episode. I'll see you next week.

Listen to this episode for more great tips on how to bring kindness into your business dealings and subscribe so you never miss an episode!

For more business and finance, news, advice and tips, don’t forget to subscribe and watch our weekly videos on I Hate Numbers, listen to our weekly podcast I Hate Numbers.

My podcast will help

Listen to find out more.

Furthermore, my mission is to inform, inspire and educate you to get closer to your numbers.

You can make more profits, save tax and time, improve your well-being and your money mindset.

Help me to help you and others by subscribing and sharing this episode in your network.  Listen now and subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates.

If you found this podcast useful then share this episode on social, leave a review on Apple podcast.  Connect with me on Instagram,

YouTube, Twitter, LinkedIn and Facebook.