Rodolfo Basilio No Comments

Budget 2017

On 22nd November 2017, the Chancellor Philip Hammond delivered the Autumn Budget 2017. Mr. Hammond tried to send a positive message during his Budget speech, but his announcements particularly did not convince ordinary people who have been affected by Brexit long period of uncertainty. Any product or service being sold in UK is becoming more expensive and people are felling in their wallet.

In the last decade, I have read and studied many UK Budgets and this one is the worst budget ever. Mr. Philip Hammond forgot about the pensioners, the students and the hard workers. He also forgot about the business people. Business people who are the individuals responsible to create employment and innovation to this country. They are the risk takers.

Mr. Philip Hammond tried to hide UK terrible Economy indicators and has not spoken enough about what the Government will practically do to improve its Economic situation. For the first time in my life, I can say that they were only losers in this Budget.

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Rodolfo Basilio No Comments

What is expected from the new generation of accountants?

No-one can be expected to predict the future – but as tech-savvy human beings, we must always keep up to date with the pace of technology. We must constantly evolve as quickly as we can to avoid being left behind. Managing a business is no different: being behind means being out of business. Read more

Rodolfo Basilio No Comments

How much do you need to start up your business?

In my opinion, lack of funding is the main reason many startup businesses fail or do not even start trading. I have seen many potentially successful businesses in financial difficulty because the entrepreneur did not calculate how much money was needed to set up the business and keep the business trading, especially in the first year. I always advise my clients to prepare the following documents before they start up: a simple start up table, a profit/loss forecast and a cash flow statement forecast to calculate the total business investment needed and the total working capital. I am not going to explain in detail how to prepare the financial statements now as I would like to concentrate on calculating the total figure the entrepreneur should have in mind before committing himself to open the doors of his business without risking a financial disaster. Let’s start with the startup table.

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Rodolfo Basilio No Comments

HOW LONG DOES IT TAKE TO START UP YOUR BUSINESS?

New entrepreneurs always ask me how long it will take them to start up their businesses. I usually ask them as many questions as I can in order to give a more accurate answer. During our first consultation, I often realise that entrepreneurs have not done enough research or initial study in the market to understand where their businesses will be heading to. The most important lesson you should know about starting up your own business is: Do your research and ask yourself as many questions as you can before you invest a penny.

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Rodolfo Basilio No Comments

Want to sell your fish? You’ll need to know how to catch them first…

Most of the entrepreneurs I know are very good salespeople. The vast majority of business owners I have been in contact with tell me that they attach more importance to selling to a potential client than finding the ideal client for their business. But in my opinion, attracting, finding and reaching out for the right client is more important than selling to them.

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