Tag: expenses
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How do I survive until my business is off the ground?
It can be a number of months before a new business is profitable and generating a cash surplus. You may need alternative sources of income during this period, if only to cover your outgoings. If your business does make a profit, you may want to re-invest it to help your business develop. This guide gives…
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Set up a simple profit and loss account for your business
A profit and loss account is a summary of business transactions for a given period – normally 12 months. By deducting total expenditure from total income, it shows on the ‘bottom line‘ whether your business made a profit or loss at the end of that period. A profit and loss account is produced primarily for…
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Employment tribunal claims – the process
A claimant must normally present their claim to an employment tribunal within three months of their employment ending or the issue that is the subject of the claim. You then have 28 days to lodge your response. You can still settle the matter without the need for a tribunal hearing, eg by reaching an agreement…