By Dave Hickey F.C.A. A business leader should maintain a comprehensive view of the financial status of their business at all times. This will allow them to make informed and timely decisions, maintain stability, and respond quickly to changing business situations. We identify 5 immediate benefits of moving to a cloud-based digital accounting platform. A …
DIGITISING YOUR ACCOUNTING SYSTEM BRINGS TANGIBLE BENEFITS Read More »
Most businesses in Ireland are SME’s and many are family-owned. At some stage the founder or current owners will need to consider succession planning and retirement, whether it’s passed on to another generation or sold outside the ‘family’. By Dave Hickey F.C.A. Why is a succession plan so important? Life happens—and unless you have a …
Having a budget – fully aligned with operational targets – is important, but it’s of limited use unless you update it regularly to reflect what’s happened so far as well as new emerging challenges or opportunities. By Dave Hickey F.C.A. I’ve recently being working with a small business which established a budgeting and financial reporting …
Building the right team and accessing the right skills can be significant challenges for scale-up enterprises. By Dave Hickey F.C.A. Over the past few weeks we have looked at the typical challenges facing scaling businesses and considered some tips to deal with them. Here we look at some tips about leading and growing your team …
From next month (May 2023) returns to the CRO which include directors’ details will need to include the PPS No (or equivalent) for each director. This will reduce duplication of individual directors and help tackle fraud. DHKN’s head of Corporate Governance & Compliance, George Alton, outlines the changes, their impact and what you need to …
CRO CHANGES WILL PROVIDE MORE TRANSPARENCY FOR IDENTITIES OF DIRECTORS Read More »
‘Scaling’ a business means growing it significantly in a way that achieves greater profitability. By Dave Hickey F.C.A. When people talk about growing a business, what they actually mean is scaling it. Growth means having a higher turnover, whereas scaling is about that and widening profit margins. If your overheads increase at the same rate …
Once you’ve established your business and secured some loyal customers, growing to a scale where you can feel more secure requires a different mindset By Dave Hickey F.C.A. The Central Statistics Office reports that, pre-2020, about 17,500 businesses were started each year in Ireland and 16,200 ceased trading. Around one-third of the enterprises started in …
Most business leaders want to change their environmental impact for the better but find it difficult to make a start. By Dave Hickey Rising temperatures, water demand issues, floods and extreme weather, more commonly experienced in recent years, are some of the local effects of global climate change. Those effects bring increased challenges for all …
HAVING A POSITIVE CLIMATE IMPACT IN YOUR BUSINESS Read More »
Why You Need Monthly Accounting By Dave Hickey F.C.A. Moving from an annual set of accounts and tax returns to a monthly process can look daunting (twelve times the work?!) and many business leaders may consider it more trouble than it’s worth. There are real benefits to knowing your profitability, cashflow and financial position throughout …
INCLUDE FINANCIAL MEASURES IN YOUR MONTHLY KPI’S Read More »
Temporary measures to reduce impact on employees By Robert Lohan C.T.A., F.C.A. Last October’s budget indicated that the system of calculating BIK on company vehicles would encourage the use of electric and lower emission vehicles. However, the impact of these changes on employees’ take home pay on top of the cost of living crisis, has …
FURTHER CHANGES TO COMPANY VEHICLE BIK RULES FOR 2023 Read More »
