You can be brilliant at selling, managing people, or building a product — and still freeze the moment someone mentions “cash flow.” You’re not alone. Many small business owners treat finances like a distant cousin they only call during tax season. Yet, the ability to make sense of money is the quiet skill that separates businesses that last from those that merely survive. Step Back Before You Add Up Start with perspective, not panic. Instead of obsessing over every penny, zoom out: what do your sales, costs, and margins say about your company’s overall shape? Imagine standing on a balcony looking down at your business — where’s the money actually moving? Knowing the big picture prevents the common mistake of reacting to single numbers without context. You don’t need to be a CPA; you just need to see patterns. Make Time, Even If You Don’t Have It Finances get slippery when they’re handled “when I get to it.” Pick a recurring hour each week — Monday morning before emails, or late Friday before you log off — to look at your numbers. Call it your money check-in. No multitasking. Just you, your books, and a cup of something strong. Within a few weeks, you’ll notice early warnings — dips, delays, or overdue invoices — before they become fires. Small, consistent attention is what steadies a business; big, occasional overhauls just create stress. Tools That Keep You Grounded When you’re trying to keep your finances afloat, you’ll need some tools in your arsenal to guide you on this journey. A few essentials go a long way: ● Accounting software to track income and expenses automatically ● Cash-flow dashboard for real-time awareness ● Simple budget spreadsheet to compare what you planned versus what happened You don’t need a tech stack that rivals a bank’s. The right tools are the ones you’ll open. Don’t Stop at Recording — Ask What It Means Bookkeeping captures what happened. Financial management asks, “So what?” Look for cause and effect: Did your best sales month also have your highest ad spend? Are your profit margins shrinking even though revenue looks fine? The numbers always tell a story — sometimes one you didn’t expect. If you’re shaky on how to read statements or spot red flags, take a crash course in the basics. Many short, affordable online accounting programs — you can consider this option — teach just enough to make the reports you already have suddenly make sense. Monthly Financial Tune-Up Checklist If you want to stay on top of your finances, you need to train yourself to stay in touch with everything that’s going on. In other words, you need a checklist. ☑ Review income and expenses for accuracy ☑ Update next-quarter cash-flow projection ☑ Match bank statements to records ☑ Chase any unpaid invoices ☑ Trim one non-essential expense Bringing in a bookkeeper or accountant can save hours and headaches, but don’t disappear from the process. Ask them to explain reports in plain language. A five-minute chat each month about “what changed” will teach you more than skimming pages of figures. Think of professionals as guides, not gatekeepers. Common Money Mistakes — and Better Moves Most financial trouble starts as silence — the owner just doesn’t look closely enough, soon enough. This short ritual turns anxiety into awareness. It’s easier to steer a moving ship than one that’s drifting. Slip-up Mixing business and personal funds Forgetting about cash flow Over-investing in growth Why it Stings Confuses taxes, hides real profit You can be “profitable” and still broke Expansion eats cash faster than it earns it  Smarter Habit Keep separate accounts from day one Track weekly ins and outs Grow with a cash buffer You don’t need to love numbers; you just need to make peace with them. Start with the basics, ask questions that make sense to you, and keep records you can actually read without a glossary. Over time, you’ll realize that financial fluency isn’t about equations — it’s about understanding the rhythm of your own business. Once you can hear that rhythm, decisions come faster, risks feel smaller, and growth stops being a guessing game.

For many older adults, retirement doesn’t mean slowing down—it means finally diving into new ventures that offer both purpose and financial reward. House flipping can be just that. But entering the world of real estate investment in your 60s or beyond calls for a different rhythm, especially when your priorities lean more toward stability and smart returns than speed and scale. The good news? Seniors bring life experience, focus, and financial discipline—qualities that can be major assets in this business. Below, we break down the key steps to getting started in house flipping as a senior, offering real strategies that protect your energy, your time, and your wallet. Start Small and Plan with Precision Jumping into house flipping doesn’t mean tackling a massive renovation on your first try. The best approach—especially if you’re transitioning from a different career or have limited construction experience—is to start with manageable renovation projects . Think cosmetic upgrades: painting, light landscaping, updated fixtures. These offer great return potential without overexposing you to risk or overwhelm early on. The more you can pre-plan, the better. Know what you’re willing to invest, both in time and in money. Then decide on your ideal level of involvement: Are you managing the flip yourself, or hiring professionals to handle the lift? Be honest about your capacity. Choose Properties Carefully, Avoid Unnecessary Risk Real estate isn’t one-size-fits-all. What works for a 30-year-old investor might not fit your comfort zone or risk profile. That’s why you’ll want to be extra selective about which properties you pursue. While tempting deals often come from homes in rough shape, they usually come with hidden headaches. Instead, focus on avoiding fixer-uppers in tricky areas . Look for lightly distressed or dated homes in safe neighborhoods that are trending upward. These tend to flip faster and with fewer surprises. Equally important: the area. Always research crime rates, school quality, walkability, and local zoning issues. Consider Business Courses to Strengthen Your Skills House flipping isn’t just about paint colors and property values—it’s also about strategy, negotiation, and financial savvy. Many seniors find that a little formal education can go a long way toward increasing confidence and sharpening decision-making. Whether you’re working with lenders or managing contractors, understanding the basics of business can streamline every step. You can research online business degree programs that offer coursework in accounting, communications, and management—key areas that support long-term success. And because these programs are designed to be flexible, they make it easy to keep flipping while leveling up your business brain. Finance with Caution—Don’t Over-Leverage Many seniors have significant home equity, retirement accounts, or savings—but that doesn’t mean you should put it all on the line. It’s wise to explore different funding options, especially ones that preserve liquidity. Weighing reverse mortgages with care is one option if you plan to downsize and reinvest. Some use home equity lines of credit (HELOCs) or partner with family members who want to co-invest. The key here is to use leverage conservatively and prioritize flips that generate reliable margins—not speculative wins. Understand the Numbers—Especially the 70% Rule Even seasoned flippers can get burned by poor cost estimation. Use this to your advantage. Before buying, calculate your after-repair value (ARV), subtract all anticipated costs, and apply the time-tested formula: using the 70 percent rule wisely . This rule helps prevent overpaying by ensuring you leave enough margin after expenses. It’s not perfect for every situation, but it forces discipline—especially valuable if you’re new to analyzing deal structures. Add Green Features That Sell  Today’s buyers are increasingly eco-conscious, and homes that include sustainability upgrades tend to stand out. That doesn’t mean you need to install solar panels or tear out insulation, but small touches make a difference. Consider integrating eco-friendly finishes like flooring , LED lighting, low-flow fixtures, and programmable thermostats. These upgrades are cost-effective, increase appeal to younger buyers, and can often be used to justify a higher resale price. House flipping isn’t just about real estate—it’s about timing, math, psychology, and local knowledge. Don’t rush into your first deal. Talk to local flippers, walk properties with agents, and shadow a contractor if possible. Start small, stay curious, and keep your risk low until you feel fluent in the process. You’re not late to the game—you’re just arriving with more wisdom and less to prove. And in this business, that’s a real advantage. Partner with Action Accountants for precision-driven financial solutions and expert advice that propels your business towards prosperity.

Navigating the complexities of business expenses requires a strategic approach to secure long-term success and financial stability. This guide provides foundational practices for managing expenses effectively, ensuring your business not only endures but also thrives in today's competitive market. By implementing meticulous budgeting, safeguarding financial documents, and making informed investments, you lay down the building blocks for a financially sound future. Hire Experienced Accounting Services Hiring accounting services for your business not only streamlines financial management but also provides strategic insights to enhance profitability and compliance, saving valuable time and resources. Action Accountants offer a comprehensive range of services designed to support businesses in their financial and strategic endeavors, enabling them to focus on their core activities while ensuring financial health and compliance. Craft a Detailed Budget Outlining all expected expenses is the first step toward financial mastery. A comprehensive budget acts as your financial guide , enabling precise decision-making and clarity in your financial commitments. It fosters strategic planning and expenditure management, ensuring that every financial decision is made with a thorough understanding of its impact on your business. Secure Your Financial Documents In the realm of financial document security, employing password-protected PDFs stands as a critical measure to protect sensitive information. Utilizing PDFs for e-signing offers a secure and efficient method for obtaining signatures, streamlining document management and accelerating the approval process in business transactions. Use a tool like this that enables users to sign and fill out PDF forms directly online, eliminating the need for printing and mailing. Conduct Market Research Effective market research is essential for businesses to understand customer needs, market trends, and competitive landscapes, which in turn informs strategic decision-making and product development. By leveraging targeted research methodologies, companies can gain valuable insights that drive innovation, enhance customer satisfaction, and foster sustainable growth. Review Expenses Periodically Adopting a routine to review your expenses allows for timely adjustments to your budget. This adaptive strategy ensures your financial planning remains aligned with business needs and goals, facilitating efficient resource allocation. Regular reviews help in identifying areas where costs can be reduced or investments can be increased for better returns. Embrace the Power of Outsourcing Outsourcing certain tasks or projects can lead to substantial savings in overhead costs. By reducing the need for in-house resources and infrastructure, outsourcing offers a flexible solution to operational efficiency . This strategy not only cuts costs but also allows your business to adapt quickly to changing market demands. Monitor Cash Flow with Vigilance Maintaining a close watch on your cash flow is essential for preventing financial shortfalls. Ensuring there are adequate funds to cover all expenses is crucial for the uninterrupted operation of your business. Vigilant cash flow management helps avoid the pitfalls of underfunding, keeping your business operations smooth and steady . Invest with a Long-term Perspective Viewing certain expenses as investments rather than mere costs can unlock potential for long-term growth. Whether it's investing in marketing, employee training, or new technology, these expenditures can drive your business forward , giving you a competitive advantage. Thoughtful investments contribute to sustained growth and back-to-back success. In mastering the art of managing business expenses, the goal is not merely to reduce costs but to make strategic decisions that foster sustainable growth and success. By implementing the practices outlined in this guide, you position your business for financial health, adaptability, and readiness to capitalize on opportunities in a dynamic market. Let this guide serve as your blueprint for financial acumen, setting your business on a path to flourish in the years ahead.

If you’d rather be cautious and not personally tour all the homes you’re interested in, you can still outline your budget with online calculators, check out promising properties through virtual tours, and even plan out future remodeling projects. These resources will help you find the virtual tools you need to bypass the usual home buying process. Get Ready to Buy ● Use a mortgage calculator to determine your overall home buying budget . ● Explore new neighborhoods with Google Maps Street View . ● Evaluate the safety of a particular area by researching local crime statistics . Finding the Perfect Home ● Get familiar with guidelines and recommendations for looking at homes during the pandemic. ● Want to view properties while social distancing? Schedule virtual tours . ● Plan potential renovation projects with home remodeling apps . ● Get cost estimates repairs (such as a pool repair, for example) ahead of time by searching through a digital database . The pandemic has dramatically changed the real estate industry within a short time frame, but there are still plenty of sellers out there who are awaiting offers on their properties. By relying on these virtual tools, you can make an offer on a beautiful home. You may even find that buying a home remotely is less stressful than the alternative! Trust the professionals at Action Accountants can help you grow and manage your finances. Call 02083780457 to get in touch.

Many new business owners overlook the importance of contracts until it’s too late. The last thing you want is to get hit by a lawsuit from a disgruntled employee or unhappy client, and having a contract in place is essential for avoiding these issues. Even if you’re not worried about legal conflicts, creating contracts outlines the expectations of both parties to ensure your business relationships are mutually beneficial. It’s important to get in the habit of creating business contracts from day one. So here are some tips from Action Accountants to help you understand, create, and negotiate your first business contracts! Create a Contract for Every New Business Relationship It’s best practice to sign a contract for each new business relationship you enter into. This means creating contracts when onboarding new employees, selecting new suppliers, and everything in between. Essentially, business contracts can reduce misunderstandings and disputes in all of your business arrangements, as well as give your business an element of professionalism, showing clients and business partners that you are serious about what you’re doing. Use Digital Tools for Contract Creation If you had to write a fresh contract from scratch every time you enter into a new business arrangement, you wouldn’t have time for anything else. Using digital contract creation tools can save you time and help you avoid errors in the process. Many tools also exist to help businesses present, edit, and modify contracts. For example, if you need to change from one format to another and the clock is ticking, see if this will help by changing from PDF to Word so that you can make any required edits, then change back to PDF format when you’re finished. Understand Different Types of Contracts Business contracts take all shapes and forms Knowing when to employ each type of contract is key! For example, a bill of sale contract documents the transfer of ownership of something from one person to another, providing evidence that both parties agree on the terms of this transfer. An indemnity agreement is a contract stating that a business is not responsible for damage or loss. A non-disclosure agreement (NDA) enforces the secrecy of confidential information. NDAs are often used when a business needs to disclose trade secrets when discussing deals or arrangements with other businesses. There are many other contract types to know and understand, so do your research and spend some time learning. Include Key Information to Avoid Disputes When creating contracts, don’t leave out any important information. TechRound explains that each contract should define all parties entering into the agreement, which parties will be performing which tasks, which parties own existing and future products, how long the contract will last, and what happens if the contract is breached. Include a section detailing how your business will work to remedy disputes so everyone’s interests are upheld. Learn How to Negotiate Contracts Negotiations are an important part of entering into a new business arrangement. Effective contract negotiations ensure the agreement is fair to all parties and no one comes out on top. This is not about getting the upper hand , but about learning what’s important to the other party and landing at an agreement that is mutually beneficial. When building your negotiation strategy , research the other party to learn about them. A simple Google search can turn up some very valuable information about what the other party might prioritize in your deal. Part of this preparation phase also involves setting limits on how much you’re willing to compromise as well as factors that would cause you to walk away from the agreement. Knowing how to create and negotiate business contracts is an important skill for any new business owner. While it’s just another thing to do before you can launch your business and onboard those first clients, do not overlook the importance of a solid contract. Take advantage of free online tools and start setting up your first business contracts today! Action Accountants is a professional firm of certified public accountants, working tirelessly to meet all your accountancy and taxation needs. If you have any questions, please email info@actionaccountants.uk.

Action Accountants is a professional and trusted firm consisting of certified public accountants, working tirelessly to meet all of its clients’ accountancy and taxation needs with speed, accuracy and expertise. Company founder, Georgie Zdrenghea has over seven years’ experience in accountancy practice, with a particular interest in accountancy and taxation processes for the construction industry. Based in North West London, she and her team now maintain a growing portfolio of clients, supporting both companies and individuals with a complete range of finance-related tasks. With its clientele mainly including self-employed individuals and micro-businesses, Action Accountants has built a solid and reliable reputation due to it providing complete client satisfaction when it comes to accountancy affairs. Its client retention rate is second to none, with 95% of its growth being through client recommendation! Valuing long-term client relationships, Action Accountants’ team carefully listens to the client’s needs, proactively working on their behalf with maximum efficiency to offer effective services in business formation, payroll, bookkeeping, compliance, VAT returns and tax returns, all of which drive the clients’ profitability and protect their wealth, whilst saving them time and money. How do accountants save their clients money? Many small business owners think they’re saving money by handling their finances by themselves. Whilst it’s a real asset to learn bookkeeping basics, cash flow management and tax obligations, hiring an accountant to oversee finances has many benefits. Leaving their books to a pro will free up their time so they can focus on other things within their business, such as their clients and implementing plans for growth. Action Accountants is partnered with Xero cloud software which enables it to sort bookkeeping for clients in no time at all. Better record keeping is the easiest way to allow clients to quickly see on a monthly, weekly or daily basis where their money is going so they can cut costs. The firm can also assist with the administration process involved in new business formation. This requires careful planning, research and preparation, and this is where Action Accountants comes in. It can help with business set up, actioned appropriately to the type of business, how it works and whether they will employ staff; business registration where it will advise on the different types of formation to suit the business’ objectives, such as sole trader, limited company, limited liability partnership or partnership; registration procedure at Companies House and HMRC; all aspects of business compliance, company secretarial issues and administration; and record keeping where it will guide the client through the process of accurate bookkeeping, VAT, payroll, and any other accounting requirements. And whether a business is just starting out or it has been in business for a long time, Action Accountants can help them meet their VAT responsibilities. The firm’s cost effective and efficient VAT service includes assistance with VAT registration, advice on VAT planning and administration, use of the most appropriate scheme, VAT control and reconciliation, help with completing VAT returns, planning to minimise future problems with HMRC, and MTD registration and software. Ultimately, Action Accountants not only believes that individuals and businesses should choose an accountant for the advice it can give to help them run and grow their businesses, but it also helps clients to keep on top of their filing, and its accountants are sticklers for making sure filing deadlines are met so that penalties are avoided. Ultimately, the firm is on hand to assist with all the necessary tasks so clients can focus on running their businesses. And of course, it is also there to provide all of the advice required to help them run their businesses effectively and tax efficiently. This is what truly sets Action Accountants apart from its competitors.  Company: Action Accountants Ltd Contact: Georgie Zdrenghea Email: info@actionaccountants.uk Website: www.actionaccountants.uk

What does it take to run a business? Ask anyone, and you'll get answers like “grit,” “determination,” and “hard work.” These aren't wrong — business ownership certainly isn't for the faint of heart. However, there's one thing that no business can succeed without, and that's money. Not just startup capital, although accessing startup funding is a major challenge for new business owners. Rather, it's the ability to manage money that sets successful businesses apart. Successful money management includes everything from tax compliance to cash flow management, and it's what allows businesses to not only pay their bills but invest in growth. With good financial management at the core of every business's operations, why aren't more first-time business owners investing in professional accounting services? The truth is, many new entrepreneurs don't understand everything a firm can do for their business. If you're on the fence about outsourcing accounting to a professional firm, here are seven reasons you should. When you're ready to hire an accounting firm, get in touch with Action Accountants . We are certified public accountants who can help you with all your accountancy, bookkeeping, and taxation needs. 1. Launch your startup You have a great business idea. What next? An accounting team answers that question with advice on business entities, budgeting, and small business funding . 2. Set a strategic plan Your accounting team also helps you understand what you're working towards. As part of strategic planning, an accounting team will take your business goals and turn them into key performance indicators (KPIs) that you can track over time. 3. Prepare financial statements KPIs are just one measure of a business's success. Business owners also need to keep an eye on their finances to avoid cash flow problems . But how do you make sense of all those numbers? Accountants take complex data and turn it into information business owners can use in the form of financial statements. 4. Maintain regulatory compliance Well-organized finances come in handy at tax time. However, paying income taxes is just one compliance issue on a small business's plate. Accountants also keep businesses in compliance with payroll tax, sales tax, insurance , and annual reporting requirements. They're also a key ally if your business is ever audited. 5. Help you get paid Your accountant can send invoices to customers for you. While this sounds like a time-consuming process, effective tech tools like QuickBooks can automate and simplify this task by using a system called batch invoicing . With this type of system, you can easily create, send, and duplicate multiple invoices to save time. 6. Pay independent contractors correctly Businesses are increasingly running into compliance issues regarding independent contractors. In addition to misclassification concerns, many employers haven't kept up with recent changes to Form 1099 . As of 2020, 1099-MISC is only used to report miscellaneous income, while non-employee compensation to freelancers and independent contractors is reported on 1099-NEC. While e-file services make it painless to file 1099 forms online, employers still need to know which form to choose. 7. Help you address delinquencies By keeping close tabs on your financial health, your accountant will also be able to help you with past due payments, and even initiate collection efforts for clients or customers with delinquent accounts. Your accountant can also work with a collection agency to employ recovery methods that benefit you while still upholding customer dignity. 8. Prepare for growth Eventually, your fledgling startup will be ready to scale. Whether you're hiring more staff, purchasing real estate, entering a new partnership, or adding an enterprise to your business, your accounting team can assess your growing business’s capital needs and help apply for funding. Small business loans are competitive, and small businesses need every advantage they can get. Every business owner knows the value of an accountant at tax time, but professional accounting services do much more than track deductions and file returns. From the time your business is just an idea to the moment you're ready to scale and grow, a professional accounting team provides the insights you need to make sound financial decisions.

You’re interested in starting a business - but you’re worried that you won’t come out ahead financially. Maybe you’ve had some money mishaps in the past, and although you’ve gotten better at saving and budgeting, you’re still concerned about running into financial setbacks if you were to open a business. With guidance from an accountant at Action Accountants , you can dodge these pitfalls. Here’s how to improve your approach to money management so that you can run a profitable business. Manage Your Personal Finances First, it’s important to get your personal finances under control before launching a business. Creating a reasonable monthly budget and building an emergency fund are both essential steps. To grow your emergency fund, Clever Girl Finance recommends determining an amount to save each month, including this amount as a line item in your budget, and automating contributions from your checking to your savings. Form an LLC Establishing your new business as an LLC is one of the simplest ways to protect your personal financial assets as an entrepreneur. Not only will this status grant you limited liability, it won’t require much paperwork, either. Working with a lawyer to file your documents can be pricey, but if you’d rather not file on your own, you can find support from an affordable online formation service instead. Your area may have its own specific regulations for forming an LLC, so research the requirements before moving forward. Keep Operating Costs Low If you rack up too many recurring expenses with your operating model, you’ll end up overspending. Try to utilize free tools and programs to minimize your monthly expenses. This could include free versions of project management and accounting software or free apps that help you complete basic tasks, like an online PDF editing tool. With an online PDF editor , you or your clients sign documents without printing them. All you have to do is upload the file online, make any necessary changes or additions, download it, and share it with the appropriate parties. Stay at Your Full-Time Job You might be tempted to dive into entrepreneurship full-time, but if you’ve struggled with your finances in the past, you might feel more comfortable if you stay at your 9-to-5 job for a while. By keeping your full-time job, you’ll be able to weather slow periods in your business without stressing about paying for your basic living expenses. Managing your time while balancing a 9-to-5 job and a small business can be tough. That’s why cutting out distractions and sticking to a strict schedule is crucial. Teachable recommends deciding how many hours you’ll need to devote to your business each day, and blocking off those hours at specific times - for example, your early mornings or evenings might be dedicated to exclusively working on your business. Risk Minimization Approach Overall, it’s important to prioritize risk management when you open your business. You do not want to rush into rapid growth, take on investments that won’t provide significant, reliable returns, or enter partnerships with entrepreneurs who lack the track record to back up their promises. Take time to think over important financial decisions, and consider working with a mentor or consultant who can help you chart a sustainable course. You can hire an accountant who specifically works with small business owners. They can provide you with valuable financial insights. If you’re nervous about dealing with money troubles as an entrepreneur, it’s actually a good sign - it means you’re going to pay close attention to your finances. Being a conscientious entrepreneur means managing your money carefully. With these tips, you’ll feel confident about your financial future. Do you need an accountant for your new business? Action Accountants can help you manage your company’s finances. Fill out the contact form on our website today to request a consultation.