A new website that represents a new Tyrrell & Company

Your business’s website is such a critical part of your brand these days. Your site is your shop window, your content hub, your eCommerce centre and the place where most of your customers and prospects will come to find out more about you, your products and your...

The 7 reasons you’re making profits, but have no cash in the bank

If you’re managing your business’s financial situation by keeping one eye on your bank balance and the other on your outstanding bills, you’re missing out on a huge number of insights into the liquidity of your venture.

You may be reporting year-end profits, but when your everyday cash situation is looking worrying – due to running costs, overheads and tax liabilities – it’s time to delve into the numbers and get a better handle on your cash flow.

How to calculate the value of your business (so you can protect it)

At Tyrrell and Company, we’ve worked on valuations for many of our clients. It’s an important part of planning a growth strategy or the end sale of the business, so getting as accurate a valuation as possible is always the end aim.

And, in our experience, there are four basic criteria that have an impact on the end value of a business

When you hate using your hard-earned money to pay the accountant

If you see your advisers once a quarter – or worse still, once a year – then you don’t have the right kind of depth to your advisory relationship.

You need more frequent contact and a more productive working relationship with your accountant. By meeting and talking regularly makes a big difference between a ‘traditional accountant’ and a ‘modern cloud-based accountant’ – a good, 21st-century accountant is a trusted business adviser, not a dull bookkeeper.

How to gently remind your customers to pay

It’s annoying when a customer doesn’t pay on time, especially if you’ve made your payment terms clear on the invoice and sent it to their finance team in plenty of time.

But there’s no point in taking out that frustration on the poor accounts payable clerk at the other end of the phone line. There’s an old adage in credit control that’s as true as it is effective:

‘Polite persistence pays!’