Insight Associates provide outsourced accounting and Finance Director services to ambitious and growing businesses. We work as your only resource or with existing staff to give you complete financial support including monthly management accounts, high level financial advice, robust controls and financial systems, funding and business planning, payroll & compliance, VAT returns and statutory compliance.

Successful business leaders have all the information they need to make good decisions…Do You?

Friday, August 23, 2013

Have You Seen Evidence of Economic Growth?

Economic growth in the UK for the second quarter of the year has been revised up to 0.7% by the Office of National Statistics as reported by the BBC today.

GDP in the three months to June is 1.5% higher than the same period last year and adds weight to the evidence of economic recovery gaining momentum after a four year stagnation period.

All four major sectors of the economy (services, industry, agriculture & construction) have seen growth.

Financial services, restaurants and hotels lead the pack in the service sector but services as a whole peformed best being 2.8% higher in June this year than last year.

If you've noticed improvements in your sector and have identified growth opportunities but are constrained by your financial skills then we'd like to work with you to develop your business to the next level.

Our Radio Show Podcasts have tips & advice on business finances - please help yourself.

Thursday, August 08, 2013

Leaner, Meaner and Keener... but I wouldn't be without...?

On the BBC this week Business Correspondent Emma Simpson reported on a Foundry in Shropshire forced to lay off dozens of workers in 2009 that have now begun to see some evidence of recovery in their sector.

In its’ heyday the business generated £6m a year with 150 staff but this year they expect to make a £1m turnover with just 15 staff. 

To survive, the business has made dramatic changes in the way it operates.  The small workforce ‘mucks in’ and does everything, fighting for every order and keeping prices low. Company cars have long gone as have support staff and van drivers, but one area that raised an eyebrow for me was that they no longer have a bookkeeper.

I can only assume they must have access to someone with a good understanding of all things financial or how else would they know how to set their pricing, which of their products are financially viable, and where further savings can be made.

Which leads me to my question…  if you had to make savings in your business… what ‘essential’ would you really not be able to do without?

You can read the full BBC article here.

Wednesday, August 07, 2013

Paying for Payroll Errors

A mistake on the payroll is a sensitive area for employees and employers alike.

HMRC have recently forced some employers to pay lost tax and national insurance costs from payroll errors made several years ago.

Rather than seek unpaid tax from the individual HMRC have made the employer pick up the cost of the error.

So that’s even more reason for rigorous processing and compliance checks!

Tuesday, August 06, 2013

Beware Bogus Bank Details

Hands up if you’ve seen invoices with ‘please note the changes to our bank details’ stamped on them?

At Insight Associates we see them all the time and to keep suppliers happy most businesses action the changes immediately.

Unfortunately those naughty fraudsters have clocked this and are sending bogus bank detail changes to unsuspecting businesses.

Don’t fall foul of their devious tactics (even if you receive official looking documents on company headed paper!)

A quick call to your regular contact (using your usual telephone number) will keep you one step ahead of the fraudsters.

Insight Associates, Insight House, Riverside Business Park, Stoney Common Road, Stansted Mountfitchet, Essex, CM24 8PL, UK
Tel: +44 (0)1279 647447 Fax: +44 (0)1279 814512
Insight Associates is a trading name of Financial Catalysts Limited. Registered in England and Wales Number: 5670047. Registered Office as above. Disclaimer | Cookies