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Latest news from Access to Finance Lancashire

Cost of living crisis part two: Impacts on SME owners & staff

Cost of living crisis part two: Impacts on SME owners & staff As people are feeling the strain caused by the cost-of-living crisis, employers must provide whatever support they can for their staff. While businesses have their own problems, they must also consider the impact on their employees. Staff who feel the strain financially at home are unlikely to be at their most pr ...

Financial Literacy: Operating Profit Margins

Financial Literacy: Operating Profit Margins Understanding the operating profit margin of your business is vital to measure the overall profitability from operations. Discover how you can easily calculate your operating profit margin in this article.   What is an operating profit margin? The operating profit margin is the earnings or trading profit expressed as a percentage ...

Your business guide to the Spring Statement from the Chancellor of the Exchequer

On 23 March,  the Chancellor set out the 2022 Spring Statement outlining a series of measures to support businesses. We have summarised the key points you need to know.    From 23 March 2022   Fuel duty on petrol and diesel will be temporarily cut by 5p per litre for 12 months.   From April 2022  New measures  Business rates exemption for green technology will be in ...

Funding Options for Lancashire SMEs in 2022

In part 1 of our funding landscape blog, Senior Access to Finance Specialist, Mark Gibbons, discussed the current funding options available to SMEs across Lancashire. But what about alternatives to taking on new or additional debts in order to fund business growth? In this blog we will cover the number of ways our Access to Finance specialists could help your Lancashire busines ...

Financial Literacy: Growth Profit Ratios

There are a number of ways to measure profitability for your SME. Gross Profit Percentage Operating Profit Margin Net Profit Percentage Each will have their own purpose and relevance. As we look at each ratios/calculations we will consider: What is it? Why it matters? Who cares? Let’s firstly consider Gross Profit Percentage. Growth Profit Percentage What is ...

Can your company pay a reduced rate of 10% Corporation tax?

Mark Gibbons, Senior Access to Finance Specialist for Lancashire SMEs, considers the benefits of HMRC’s ‘Patent Box’ scheme. The Patent Box scheme is intended to encourage the development of new patented inventions in the UK. If a company is making a profit on any patented inventions, they will be eligible for a lower effective Corporation Tax rate of 10% on relevant profits. ...

Financial Literacy: Growth Revenue Analysis

In this series we will simplify the interpretation of financial statements and appreciate the range of accounting ratios from financial statements. Also, to understand what they mean in terms of evaluating the trading performance and financial strength of your business and why they matter to you, your management team and to other parties. Of course, when evaluating the perfor ...

Finance, funding and investment: what now for Lancashire businesses?

Mark Gibbons, Senior Access to Finance Specialist in Lancashire, looks at the current funding landscape for SMEs in the county. It’s no exaggeration to say that the last 18 months have been one of the most challenging times for small and medium-sized business in recent memory. COVID-19 and subsequent enforced restrictions on businesses alongside the country’s exit from the EU ...

North West set to showcase region’s climate action at COP26

The North West is leading action to tackle climate change and power a Green Industrial Revolution … that’s the message from the North West’s political and business leaders as they prepare to stage their official COP26 programme.   Leaders from across the North West – home to 7.3 million people - are uniting for COP26. They’re sending a clear message to international leaders t ...

Your business guide to the 2021 Autumn Budget - What were the key measures announced?

On 27 October,  the Chancellor set out the 2021 Autumn Budget outlining a series of measures to support businesses and help the economy recover from the COVID-19 pandemic. We've summarised the key points you need to know.   Business funding Support Schemes Recovery Loan Scheme The scheme will be extended until 30 June 2022. However, from 1 January 2022, the s ...