RELATED ARTICLES

Improving your gross profit margin
The less money that it costs you to buy the initial ingredients for the finished product that you are selling the better your gross profit margin percentages will be. Look at ways to reduce the cost of those ingredients perhaps by negotiating and ordering larger quantities, look at portion control, can you guarantee that every same item you sell costs the same to produce. Look at where you buy your ingredients, have you tried catering wholesalers, frozen food distributors and cash and carry outlets. Without compromising the quality of your products it is possible to make savings, 5 pence saved on every burger can make an enormous difference, if you sell 1000 burgers you will make an extra £50.00 profit. If you sell a 1000 burgers a week, that's £2,600 a year and so on.     

Self assessment tax forms

Although many people like to do and submit their own self assessment tax returns according to recent published articles up to 30% of returns are completed incorrectly. Far easier to employ the services of a good accountant who will, over the years save you money in the long run. For those with very small businesses employing an accountant may seem like an unnecessary expense, but as that small business develops into a bigger business with more complex finances your accountant will be able to help and advise on how you can reduce your future tax liabilities and bills. Many accountants base their fees upon how complex your finances are and the amount of time anticipated to complete your accounts, so the more well kept and organised your records and receipts the cheaper your accountants bill will be.