FINANCE Its pretty fundamental

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FINANCEIts pretty fundamental

• Kenneth Parsons

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KEY FIGURES

• Sales
• Profit margin
• Costs
• ACTIVELY MANAGE

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KEY COSTS

• Staff
• Rent or mortgage
• Business rates
• Electricity
• Bank overdraft or loans
• Tax, NI

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STAFF

• Cost, say 9 per hour 15p per minute
• Schedule staff
• when you need them
• Review opening hours

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RENT

• Landlords need you the economic climate is
  hitting everybody
• Ask to pay monthly rather than quarterly
• Defer a quarters rent to the end of the lease
• Rent free holiday?
• Temporary rent reduction
• BE UP-FRONT

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MORTGAGE

• Lenders may consider
• Interest only period
• Short payment holiday
• Reduced payments for a period

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BUSINESS RATES

• Small Business rate relief
• Rateable value under 10,000
• www.businessraterelief.co.uk
• Rates relief for rural shops post offices
• Qualifying businesses 50 mandatory
• 50 discretionary

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ELECTRICITY

• Manage contract renewal
• Switching supplier
• Cut usage

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BANK LOANS OVERDRAFTS

• Alternative deals
• http//bba.moneyfacts.co.uk
• Enterprise Finance Guarantee Scheme
• Contact your bank
• Capital for Enterprise Fund
• Fund business development, govt. take stake
• 0845 600 9006

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TAX AND NATIONAL INSURANCE

• Business Payment Support Service
• Late payment without surcharge but do pay
  interest to HMRC
• 0845 302 1435

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