A recent YouGov poll of 5,000 self-employed people and freelancers revealed that 3 out of 4 of them don’t claim all their expenses and nearly 20% claim less than half or none at all!
We are thrilled to announce that Tyrrell & Company have been selected by Receipt Bank as a launch partner for their innovative expenses app 1Tap Receipts, designed especially for UK Sole Traders.
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.
Bad cash flow = bad news. And one of the biggest reasons for poor cash flow is customers not paying their invoices on time. So, how do you combat the potentially negative impact of outstanding invoices and get back in control of your payments and cash flow?
The key lies in some strategic use of technology, and a lot of thought about your internal processes and customer relationships.
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