Financial Planning Archives

6 TIPS FOR DEALING WITH UNCERTAINTY IN BUSINESS

Sound business and financial planning is always important especially in times of economic uncertainty. By Dave Hickey F.C.A. As concerns over the Irish, European and global economies continue, it is essential that all businesses, particularly small and medium-sized enterprises, are properly prepared for financially-testing times. Sound business and financial planning is always important but becomes […]

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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.

FINANCIAL FORECASTING FOR A DYNAMIC WORLD

News / Siobhan Moran

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

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Recent changes to employment law include the introduction of statutory sick pay.

EMPLOYMENT LAW CHANGES WHICH WILL IMPACT MOST BUSINESSES

News / Siobhan Moran

The introduction of Statutory Sick Pay and an increase in the National Minimum Wage are some of the recent changes. By Dave Hickey F.C.A. The rate of change in employment law in the past few years seems to be accelerating which makes it difficult for employers and their staff to be up-to-date with all the

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Actively managing pricing can help maintain or increase profitability

MANAGE PRICING TO MAINTAIN PROFITABILITY

News / Siobhan Moran

By Dave Hickey FCA The fastest and most effective way for a company to maximise profit is to get its pricing right. The right price can boost profit faster than increasing volume will; the wrong price can shrink it just as quickly. Yet many otherwise tough-minded managers shy away from initiatives to improve price for

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Cost management is always important but it’s vital in tough times. It’s tempting to slash any costs you can, but this can be counter productive.

WHEN YOU’VE GOT TO CUT COSTS – NOW!

News / Siobhan Moran

By Dave Hickey, F.C.A. Cost management is always important but it’s vital in tough times. It’s tempting to slash any costs you can, but this can be counter productive. A sudden change in projected or actual income – compared to your plans or prior periods – can trigger an immediate call for cost cutting from

WHEN YOU’VE GOT TO CUT COSTS – NOW! Read More »

Battling an economic downturn needs good business planning.

BUSINESS PLANNING FOR AN ECONOMIC DOWNTURN

News / Siobhan Moran

By Dave Hickey F.C.A. While we may not be officially in recession, we’re certainly seeing signs of a slowdown in many parts of our economy. So, as concerns over the European and global economies grow, it is essential that all businesses, particularly small and medium-sized enterprises, are properly prepared for financially-testing times. Sound business and

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Unpaid tax liabilities warehoused by Revenue, will need to be addressed in 2023, but recent changes provide more time.

REVENUE DEBT WAREHOUSING: RECENT CHANGES AND WHAT YOU NEED TO DO NOW

News / Siobhan Moran

By Robert Lohan, Tax Director, DHKN Revenue’s Debt Warehousing Scheme (DWS), established at the start of the pandemic, allowed businesses to defer payment of taxes until activity levels returned to some level of normality. Any unpaid debt has been interest free so far and is due to start incurring interest at 3% from 1 January

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Energy Saving measures can cushion the impact of price increases

SMALL SAVINGS MAY HELP TO KEEP YOUR BUSINESS’ LIGHTS ON

News / Siobhan Moran

By Dave Hickey When energy costs are increasing by 80% in a quarter, making small adjustments to your energy consumption may feel like a futile exercise – the proverbial Sisyphean* task. While we have little influence on the price we’re charged for energy we can control how much of it we use. Controlling usage There

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When you understand these common mistakes, it's like a lightbulb exploding in your head!

TOP TEN BUSINESS PLAN MISTAKES (6 – 10)

News / Siobhan Moran

By Dave Hickey Every business should have a business plan. Unfortunately, despite the fact that many of the underlying businesses are viable, the vast majority of plans are hardly worth the paper they’re printed on. Most “bad” business plans share one or more of the problems outlined in previous post here (1-5) or below (6-10):

TOP TEN BUSINESS PLAN MISTAKES (6 – 10) Read More »

Images of 10 people slapping their foreheads, realising their mistakes

TOP 10 BUSINESS PLAN MISTAKES – (1 TO 5)

News / Siobhan Moran

By Dave Hickey Every business should have a business plan – because a vision without a plan is just a dream! Unfortunately, despite the fact that many of the underlying businesses are viable, the vast majority of plans are hardly worth the paper they’re printed on. Most “bad” business plans share one or more of

TOP 10 BUSINESS PLAN MISTAKES – (1 TO 5) Read More »

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