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Should the government be encouraging SMEs to invest more in IT equipment?

SMEs are benefitting from government schemes to provide greater levels of finance through the banks, opening up plenty of opportunities. The latest figures show that lending through the Enterprise Finance Guarantee scheme reached £84 million in the second quarter, the highest figures since March 2011. The EFG is a demand-led scheme which allows banks to lend to SMEs who would not otherwise receive credit, by providing the banks with a government guarantee for 75% of the loan value. Increases in EFG lending showcase the efforts of small companies to invest and grow, it also acts as a wider indication of economic growth. Finance is the driving force of any business as it would be impossible to support growth without the necessary cash. However, IT equipment ...

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The importance of a modern-day business being as tech-savvy as possible

The world is driven by technology in the modern era and implementing as many systems as possible is vital to getting the most out of a business. From simplifying tasks to improving organisation and capability, having better systems in place can improve the efficiency of the company. Embracing technology is the first step, while implementing it follows close behind if a company is to enjoy the full benefits that it can offer. With the economy still reeling from the effects of the recession, cost-cutting measures are in place across all businesses on varying scales. Fundamental to business success Technology is fundamental to ensuring these measures are successful as they can measure the extent to which they are working and highlight any measures which are failing ...

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What is the value of online software for SMEs in the modern business world?

Software for businesses is designed to help them to run their operations more effectively, cut costs and replace paper processes. As businesses continue to expand and embrace technology, the related software is quickly becoming an important cog that keeps the development in motion. Increasingly important role Increasingly, software is being seen as vital to the IT infrastructure of business, determining the way it is both run and managed. When these processes are done on small scales, as exists in SMEs, there is a need to ensure they are all done efficiently and accurately, as extra technological support often comes at a price. Online software provides plenty of new options to a business, as web-based applications can develop means of communication, measure office productivity and ensure ...

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The secret to effective online book-keeping

Organising finances is a vital task in the running of any business, as it is important to know exactly where funding is being used and on what.   Having a clear system makes this task considerably easier while moves towards online book-keeping continue to push the boundaries of what can be achieved.   As a result, focus can switch to other aspects of business and companies can focus on improving brands and the products or services that they provide.   Understanding book-keeping   When the data is organised in a better fashion it can be understood and incorporated into business plans to drive business forwards.   On top of this, online book-keeping decreases the risks associated with late submissions as all details should be kept more up to date than ...

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PAYE Real Time Information

HMRC PAYE Real Time Information (RTI) continues to go well with over 1.6 million PAYE schemes successfully reporting PAYE information in real time. Following feedback from stakeholders, we would seek to extend the reporting relaxation for smaller businesses to 5th April 2014 to tie in with the full tax year.   We can now confirm that the reporting extension has now been agreed and this relaxation will remain in place until 5th April 2014.  Under this relaxation, employers with fewer than 50 employees who pay their employees monthly or more frequently are still required to report through the new system, but are able to do so once a month (but no later than the end of the tax month (5th), rather than ...

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What is the most important way in which cloud computing could assist a busy accountancy firm?

  Cloud is enabling more information than ever before to be available to those that need it, meaning certain sectors are seeing far-reaching benefits. One such sector is that of accounting, as the introduction of cloud has developed it to such an extent that some areas are now unrecognisable to how they were before. A move towards digital accounting has gone hand in hand with appeals to save the planet and make the sector paperless. Not only does it save on printing and paper costs but it allows business accountancy firms to be constantly aware of the financial situation and respond immediately to any issues. Improved workflow and structure New workflows that digitalise information as soon as it comes to the firm means simple analysis ...

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Can cloud computing be the key to a UK economic recovery?

Cloud computing is being incorporated into businesses - both large and small - at a steady rate as they look to improve efficiency and get ahead of their competitors. Questions are now being asked as to whether it could be a driving factor in leading the recovery of the economy. Scottish Conservative Chairman David Mundell has claimed that incorporating cloud into our economy would offer employment opportunities and help to reduce costs. The MP for Dumfriesshire believes that cloud can help companies to expand and be more profitable, while plans are in place to continue the introduction of cloud into further parts of the public sector. 'Technologies such as cloud computing can have a real impact on competitiveness, creating new ways to deliver services ...

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What more could my company do to embrace cloud computing?

The cloud revolution is gathering pace, with more and more companies turning towards the concept in a bid to make themselves more efficient. Cloud computing offers the chance to improve the genetics of a business, cutting costs and allowing technology to dominate the running of the company. The demands of businesses are constantly changing, and having a platform which can deal with demand is vital to the long term success of a company. All of a sudden, data is available on the move via mobiles, tablets and other technology, meaning preparation for important meetings and the updating of vital information is always possible. This increases productivity and helps push businesses towards the front of their respective fields, as the processes behind running the company ...

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What are the three key ways that accounting software can improve my business?

Financials are the core aspects of any business or enterprise, regardless of its size, and software which helps to alleviate the difficulties often faced is always appreciated. Having a sound understanding of the situation a business finds itself in can be of vital importance should something go awry. After all, loss-making ventures can end even more quickly than they began if the correct financial understanding is not in place. Simplicity Accounting software provides a simple solution, allowing the complex processes to be easily understood and increasing the general ease of accounting as a result. It will record income and expenditure and helps take care of VAT, tax and PAYE as well as dealing with the requirements of the Charity Commission.   Spreadsheets are an ideal way ...

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