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On Wednesday 18 November experts from Banks Chartered Accountants, Thring Townsend Lee & Pembertons, The Infinite Group and Lloyds TSB joined forces to bring you Into The Future Together. The event was aimed at local businesses looking to take advantage of the improved economy over the next twelve months and it did not disappoint.
The event kicked off with an ask the expert session for which the main presenters were joined by representatives from Business Link, Thames Valley Chamber of Commerce, Emnico Technologies Ltd and Bookcheck who were on hand to answer any questions raised by those attending.
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The presentation itself was then started with Russell Lewis of The Infinite Group looking at the systems and processes you can introduce to ensure your business runs smoothly and allowing you more time to focus on bigger and better things. Russell discussed how strong planning can make a massive difference and staying on top of things can be key. Russell focused on the 4 keys to business success being money, systems, people and sales/marketing with emphasis on how processes should be introduced and the success measured accordingly.
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Esyllt Davies of Thring Townsend Lee & Pembertons continued with information on how to manage employee performance within your business. Esyllt discussed the pitfalls and common things that can go wrong in respect of employees and the main cause of these. She highlighted the importance of good communication and having a clear job description and shared expectations of the role together with relevant training to ensure the role can be performed to the right standard. Esyllt then looked at options for when things do go wrong including mediation, disciplinary procedures and finally dismissal and strongly recommended that employers are familiar with the ACAS code and ensure procedures are followed to avoid tribunal action.
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Eddie Cranwell of Lloyds TSB Commercial then looked at the various sources of business finance available including overdrafts, invoice financing, credit card, loans, finance and mortgages including when each should be used and what you should consider when looking at financing your business.
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Finally Richard Mathews of Banks Chartered Accountants looked at the ways businesses can plan in order to maximise their profit retention. Richard discussed the various trading vehicles and provided a comparitive of the difference in profit. He then gave details of areas to watch out for and changes that are likely to happen and should be considered and reviewed. Richard stressed the importance of planning and particularly in respect of future tax payments in order that cashflow be unaffected. Capital Allowances were looked at and guests were urged to look into major purchases beforehand so they are aware of the relevant relief before buying. Richard briefly mentioned tax mitigation arrangements and the importance of seeking advice on these before concluding with some of the matters to consider in the next twelve months.
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To see the slides from the presentation please click here.
To view podcast footage from the event please click the relevant links below
Banks Chartered Accountants
Thring Townsend Lee & Pembertons
The Infinite Group
Lloyds TSB (Coming Soon!)
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