Atek Accounting’s Blog

We offer a range of articles and advice for small businesses on how to get control of their finances, improve efficiency, and grow. Have a question that we don’t cover in our blog? Just give us a call, and let’s chat.

Blog, Articles & Advice for Small Businesses | Atek Accounting
  • Financing Your Small Business: What Are the Options?

    Published On: April 10th, 20244.5 min read

    Starting a small business is an exciting venture, but it can also be daunting, especially when it comes to financing. There are a number of different options available to small business owners, but it can be difficult to know which one is right for you. In this blog post, we will discuss the most [...]

  • How to Manage Negative Cashflow in a Tech Business

    Published On: March 20th, 20245.3 min read

    When you’re running a tech business, the words “negative cashflow” certainly don’t sound like much of a cause for celebration, and truthfully, they often aren’t. However, negative cashflow isn’t always a cause for concern, and even when it is, there are steps you can take to rectify and manage the situation. What is Negative Cashflow? [...]

  • The Best Invoicing Practices for Events Management Businesses to Follow

    Published On: March 14th, 20243.5 min read

    Why Event Management Businesses Must Follow Best Invoicing Practices Unpaid invoices are bad news for cashflow for your events management business, to say the least. Invoicing may not seem very exciting, but it’s important to put the best practices in place so that you can make the process as smooth as possible, improve client [...]

  • Thoughts from Kerrie: Spring Budget Impact on Performing Arts Businesses

    Published On: March 8th, 20241.6 min read

    The 2024 spring budget brought forth encouraging developments for the creative and performing arts sector, marking a significant boost for its growth and sustainability. Our director, Kerrie Jenkins, shares some initial thoughts about how it will impact performing art companies in the UK. The Chancellor stated in his budget speech, “In recognition of their [...]

  • Spring Budget 2024: Key Information to Know

    Published On: March 7th, 202418.5 min read

    The Growth-Focused 2024 Spring Budget Chancellor Jeremy Hunt delivered his ‘Budget for Long-Term Growth’ on Wednesday, March 6. In his 2024 spring budget speech, he promised 'more investment, more jobs, better public services, and lower taxes’. Lowering taxes The Chancellor made further changes to National Insurance Contributions (NICs), following the cuts [...]

  • How to Regain Control of Your Rapidly Growing Business

    Published On: March 4th, 20244.2 min read

    They say that speed kills, and this can be true when it comes to business growth. Rapid business growth can be overwhelming, and if you can’t keep up with your current rate of expansion, then you need to act before your business suffers real damage. Let’s take a look at some growth management strategies [...]

  • 3 Challenges Every Growing Tech Business Faces (And How to Tackle Them)

    Published On: February 7th, 20243.4 min read

    Is your business ready to tackle the challenges that come with growth? Businesses in the tech, digital and creative space have so much potential for growth - which is exciting, but business growth also comes with a myriad of challenges. It's important to be aware of these obstacles so you're prepared to address them [...]

  • How to Analyse Your Production Company’s Financial Position

    Published On: January 23rd, 20243.6 min read

    Regular financial analysis is crucial for your production company's ongoing success. Financial analysis is essential for maintaining the strength and success of a production company. It helps you identify strategic investment opportunities, create effective budget plans, and keeping costs in check. This analysis is crucial for determining the profitability of different productions and assessing [...]

  • Case Study – Resident Advisor: Do We Outsource or Build Inhouse?

    Published On: January 5th, 20240.6 min read

    Could an outside accounting firm really understand the business and provide enough support? How Atek Supported Resident Advisor's Rapid Growth Resident Advisor, the online magazine and community platform for electronic music, was growing rapidly. With that success came the need to make sure they had a full understanding of their finances to make smart [...]

  • Tech Companies: Monetisation Strategies that Drive Revenue

    Published On: December 12th, 20232.3 min read

    Effective monetisation strategies are crucial for tech companies to maximise their revenue potential. In the rapidly evolving landscape of technology, simply offering innovative products or services is often not sufficient. Companies must strategically implement monetisation models that align with their target audience, market conditions, and the value they provide. If you're looking to boost [...]

  • National Insurance Changes Ease Burden for Self-Employed

    Published On: December 7th, 20231.7 min read

    National Insurance Changes 'ease burden on strivers' The FSB warmly welcomed the changes to National Insurance Contributions (NICs) announced by Chancellor Jeremy Hunt, indicating that the alteration will play a pivotal role in 'easing the burden on strivers up and down the country.' In response to the recent Autumn Statement, the Federation of Small [...]

  • The Autumn 2023 Budget – What does it mean for you and your business?

    Published On: November 30th, 202310.3 min read

    On November 22, 2023, Jeremy Hunt delivered the ‘Autumn Statement for Growth’ as part of the Autumn Budget. Against an improving economic backdrop, the Chancellor is keen to stimulate economic growth and has highlighted 110 measures for businesses. In addition, there were significant statements relating to National Insurance changes and the reform of work-related [...]

  • Fix These 4 Bad Financial Habits That Could Be Hurting Your Business

    Published On: November 21st, 20234.1 min read

    Habits are everything. From getting up early to working out and eating healthy, habits are what differentiate successful people from others. The same applies in business – entrepreneurs who have good financial habits, such as budgeting wisely and investing strategically, tend to make better decisions than those who lack them. Recognising and breaking free [...]

  • HMRC Scam Warning for Self Assessment Taxpayers – Don’t Get Duped

    Published On: November 8th, 20231.6 min read

    A scam warning was issued to 12 million self assessment taxpayers Self assessment taxpayers must be on the lookout for scam texts, emails, and phone calls from fraudsters, HMRC has warned. HMRC has received more than 130,000 reports about tax scams in the past year, with 58,000 of those offering fake tax rebates. With [...]

  • Number of Cash Transactions Rises for First Time in a Decade

    Published On: October 23rd, 20231.2 min read

    The number of transactions paid for with cash rose for the first time in a decade in 2022, according to data published by UK Finance According to UK Finance, the total number of payments made last year increased to 45.7 billion from 40.4 billion in 2021. 50% of all payments in the UK were [...]

  • Tech Companies Need Proper Scalability Planning

    Published On: October 20th, 20232.9 min read

    One of the biggest challenges faced by businesses in the tech sector is keeping up with the pace of business growth. Many businesses don't focus on proper scalability planning - a crucial step to sustaining growth and keeping their competitive edge. It's vitally important to take the time to plan for how you will [...]

  • Firms Looking to Autumn Statement for Help With Rising Operating Costs

    Published On: October 12th, 20231.8 min read

    Small firms will look to the upcoming Autumn Statement for signs that the government understands their operating concerns, says the Federation of Small Businesses (FSB) The business group said that UK businesses need urgent action in the Autumn Statement to help stem the issue of late payments. It says that large corporations use late [...]

  • Performing Arts Schools: Stay on Top of Your Business Transactions

    Published On: September 28th, 20233.7 min read

    If you're running a dance studio, a theatre training programme, a stage school, acting classes, a film school, or any other type of performing arts school, then you have a multitude of transactions occurring on a daily basis. As a business owner, it is important to stay on top of your financial transactions. This [...]

  • 7 Things You Didn’t Know Your Accountant Could Do

    Published On: September 11th, 20234.3 min read

    Do you know that your accountant can do more than just help you with your taxes? In fact, accountants can help you with a variety of tasks, including bookkeeping, financial planning, and even business consulting. If you're not taking advantage of all the services your accountant has to offer, you're missing out on valuable [...]

  • Business Stagnation: What To Do When You’re Stuck in a Rut

    Published On: August 30th, 20234.1 min read

    As a business owner, there’s nothing worse than the feeling of being stuck in a rut. You’re exhausted, your creativity is lacking, and you feel as though you’re slinging spaghetti at the wall, but it’s just not sticking. You find yourself clutching at straws and hoping for a different outcome. Stagnation is never great [...]

  • How To Identify Your Most Valuable Customers (and what to do next)

    Published On: August 22nd, 20234.2 min read

    When it comes to running a business, it's important to focus on the customers that are the most profitable Not all customers are created equal, and some customers may even be dragging your business down. In this blog post, we will discuss how to identify your most profitable customers and the next steps to [...]

  • HMRC Pledges £5.5 Million To Charities That Give Tax Help

    Published On: August 14th, 20231.4 min read

    HMRC gives £1.8 million a year to charities to help excluded taxpayers This summer, the voluntary and community sectors can apply for grants from HMRC to support their work with taxpayers who need extra assistance with their tax affairs. Eligible organisations need to bid for the funding, worth £1.8 million a year from 2024 [...]

  • Three new Creative Enterprise Zones in London

    Published On: August 7th, 20232.4 min read

    At Atek, we are pleased to see the news for London creative businesses as Brent, Islington, and Westminster are named as three new Creative Enterprise Zones. What are creative enterprise zones? Creative Enterprise Zones are small, designated areas of London where artists and creative businesses are supported. The zones offer incentives to retain and [...]

  • How to Manage Cash Flow in a Seasonal Events Business

    Published On: August 1st, 20234.4 min read

    Cash flow management is crucial to the financial health of your business, but it can be especially tricky to handle for events management businesses that are seasonal. Peaks and troughs can have you wondering how you’re going to survive the slow months, let alone grow and improve your business. Fortunately, we have several strategies [...]

  • Performing Arts Businesses: Four Signs That Your Pricing Is Too Low

    Published On: July 24th, 20233 min read

    Underpricing can lead you to work harder for less money while your competitors are growing. Here's how you'll know if your pricing needs adjusting There are several reasons Performing Arts businesses can end up pricing their products or services too low. To start with, it can happen out of a lack of experience, the [...]

  • Atek’s New London Office

    Published On: July 13th, 20231.2 min read

    We are excited to announce our new London location! We have opened an office in Soho - at 36 Soho Square, London, W1D 3QY This is a big step for Atek, and we owe it all to our incredible clients who have entrusted us with their financial needs. As we continue to expand, we [...]

  • Apprentice Accountant Job in Weybridge

    Published On: June 29th, 20231.8 min read

    We are hiring and currently have a job opening for a full-time Apprentice Accountant to join our friendly team in our Weybridge office At Atek, we pride ourselves on our personal and forward-thinking approach; therefore, the successful candidate will happily get to know their clients’ businesses inside out. The apprentice accountant role would suit [...]

  • Why Getting Your Accounting Right Helps Your Small Business Succeed

    Published On: June 26th, 20233.6 min read

    Are you a small business owner? If so, then you know how important it is to keep your finances in order. After all, your business's success depends on it What you may not realise is that your accounting also has a huge impact on the fate of your enterprise. Good accounting is essential for [...]

  • New Advisory Fuel Rates for Company Cars in 2023

    Published On: June 2nd, 20231 min read

    New company car advisory fuel rates have been published and will take effect on June 1, 2023 The guidance states: ‘You can use the previous rates for up to one month from the date the new 2023 advisory fuel rates apply’. The rates only apply to employees using a company car. Calculating fuel rates [...]

  • Top 5 Automation Features That Xero Offers

    Published On: May 25th, 20233.3 min read

    Are you leveraging these 5 great automation features that Xero offers? In the world of accounting, Xero is widely regarded as the gold standard of cloud software. Not only is it cost-effective and easy-to-use, but it also offers a range of automation features to save you time and give you access to all the [...]

  • 4 Ways to Cope with Anxiety as a Business Owner

    Published On: May 18th, 20234.7 min read

    This week is Mental Health Awareness Week, and the theme for 2023 is anxiety Anxiety is a part of our body’s natural ‘fight or flight’ response that helps us react quickly to potential threats. But it can become problematic if it persists over a long period of time, is overwhelming, or stops us from [...]

  • Should You Outsource Your CFO Function?

    Published On: May 5th, 20233.6 min read

    As your business grows, it will encounter new and increasingly complex financial problems. In this day and age, outsourcing your CFO function might just be the answer to your prayers. Consider these six key points when it comes to outsourcing the CFO function: 1) Time As a business owner, you are constantly juggling many [...]

  • FSB Warns Small Businesses at Risk as Energy Costs Rise

    Published On: April 19th, 20231.6 min read

    The FSB issues a stark warning as energy costs rise The end of the Energy Bill Relief Scheme (EBRS) on April 1 could threaten the future of hundreds of thousands of small firms due to rising energy costs, according to research by the Federation of Small Businesses (FSB). The Energy Bill Discount Scheme (EBDS) [...]

  • Tax Deductions Your Small Business May Be Overlooking

    Published On: April 12th, 20233.6 min read

    Are you missing out on tax deductions that could be saving you money? They say that only two things are certain in life: death and taxes. Paying tax is inevitable, but there are things you can do to reduce the percentage of your income that the taxman takes. As a small business owner, you [...]

  • A Quick Guide to Operating Profit Margin

    Published On: March 31st, 20233.6 min read

    Do you know your operating profit margin? When running a business, you need to keep a close eye on profits - but profit isn't a one-size-fits-all term. There are several different profit margins you need to know about, including the operating profit margin. But what is it, and how does it differ from gross [...]

  • The Spring Statement 2023

    Published On: March 16th, 202323.5 min read

    In the Spring Statement 2023, Chancellor Jeremy Hunt delivered a ‘Budget for Growth’ After the Office for Budget Responsibility forecast a stronger than expected performance from the UK economy this year with inflation continuing to fall, the government outlined its plans to invest in infrastructure, support small businesses, and create jobs to further stimulate [...]

  • We Are Hiring a Practice Accountant

    Published On: March 8th, 20231.7 min read

    We are looking for a part-time practice accountant to join our friendly team during this exciting period of growth for the company At Atek, we pride ourselves on our personal and forward-thinking approach, and therefore, a successful candidate will happily get to know their clients’ businesses inside out. This practice accountant role would suit [...]

  • Why You Need An Accountant For The Growth Of Your Small Business

    Published On: March 3rd, 20233.4 min read

    Small businesses often put off hiring an accountant until they’ve grown bigger, but that could be a mistake that actually delays growth Do small businesses need an accountant? The services of an accountant extend beyond simply minimising your tax bill, although that’s an undeniably valuable advantage. In addition to saving you time and money, [...]

  • 6 Accounting Mistakes That Can Be Costly to Your Small Business

    Published On: February 23rd, 20233.7 min read

    We know that accounting is never a small business owner’s favourite task. It is, however, vital that you keep on top of your accounts to prevent money from leaking out of your company. The following accounting mistakes could mean that your small business is losing profits without you even knowing about it. Once you [...]

  • Widespread Uncertainty Among Small Businesses Related to Securing Finance

    Published On: February 13th, 20231.7 min read

    Many small firms in the UK face challenges when it comes to finding and applying for funding, according to a report published by the Federation of Small Businesses (FSB) The FSB's report found that 'widespread uncertainty' exists among small businesses in regard to where to get information on the types of finance available to them. Two-thirds [...]

  • UK Business Confidence Continues to Fall in 2023

    Published On: February 8th, 20231.4 min read

    The Business Confidence Monitor reflects continued challenges for UK businesses The UK's business confidence has dropped to a 13-year low, according to a survey conducted by the Institute of Chartered Accountants in England and Wales (ICAEW). The ICAEW's latest Business Confidence Monitor (BCM) showed that record high inflation and rising costs, including energy and [...]

  • R&D Tax Relief Review

    Published On: January 30th, 20231.8 min read

    The government launched a consultation this month to simplify the UK’s R&D tax relief system The 8-week consultation for the R&D Tax Review, which continues until March 13, 2023, presents proposals for replacing the two current R&D tax relief schemes – the Research and Development Expenditure Credit (RDEC) and the Small and Medium Enterprises [...]

  • 7 Easy Ways to Reduce Your Business Costs

    Published On: January 27th, 20234 min read

    Expenses grow along with your small business, so it’s always in your interest to consider where you can reduce business costs. But, overzealous cutting in the wrong areas can lead to a myriad of problems. Keeping costs low is important to maximise your profits and protect your small business against inflation - you need [...]

  • 6 Steps to Ensure That Your Business is Financially Fit and Healthy

    Published On: January 12th, 20233.8 min read

    As we start a new year, many people are setting new personal fitness goals for themselves. However, as a business owner, you also need to be looking to ensure that your company is financially fit and healthy. Do you fully understand the strength of your financial situation and the areas that need focus? Here [...]

  • Why Cash Flow Forecasting Is Critical for Event Management Firms

    Published On: December 6th, 20223 min read

    Cash flow forecasting can show you the ups and downs in your events management business. If you want to know what action to take, this is one tool that can help A few budgeting tips here and there might help you remain profitable in the long run. And they can even help you achieve [...]

  • 5 Simple Ways to Recession-Proof Your Small Business

    Published On: November 29th, 20223.6 min read

    With high energy and food prices, elevated inflation, rising interest rates, and global economic weakness, the Bank of England is expecting the UK economy to be in recession until the middle of 2024 - the longest recession in history. As is often the case, small businesses are likely to feel the biggest impact, which [...]

  • Cash Flow vs Profit – Which is More Important?

    Published On: November 24th, 20223.8 min read

    It’s the age-old debate: cash flow or profit? While the two are undoubtedly related, they are certainly not the same thing, and business owners must often sacrifice one at the expense of the other In the long term, a business needs both positive cash flow and profit to continue operating, but which one should [...]

  • Making Tax Digital November Deadline – Are you Ready?

    Published On: October 31st, 20221.5 min read

    All VAT businesses must prepare for the Making Tax Digital deadline. As a Xero Certified Partner, Atek can ensure you are fully compliant HMRC is reminding businesses that they will no longer be able to use their existing Value Added Tax (VAT) online account to submit VAT returns from November 1, as part of [...]

  • Can EIS Help Tech Firms with Recruitment Struggles?

    Published On: October 21st, 20222.7 min read

    Have you considered how the Enterprise Investment Scheme (EIS) can support your recruiting efforts? Eight in ten small businesses are finding it difficult to recruit staff, according to a report published by the Federation of Small Businesses (FSB). The FSB's 'Scaling Up Skills' report found that over 80% of small firms are flagging a [...]

  • The Energy Relief Bill Covers Performing Arts Companies — But What Now?

    Published On: October 19th, 20223.6 min read

    Rising costs are one of the greatest challenges facing all small businesses, with soaring energy costs particularly concerning for performing arts companies The extension of the Energy Bill Relief Scheme to cover businesses from October 2022 through March 2023 should help – but companies still need to plan appropriately for the year ahead. Are [...]

  • HMRC Raises Late Payment Interest

    Published On: October 18th, 20221.1 min read