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Looking after business, the business page column from the Carmarthen Journal . . . by Nigel Roberts, finance and banking specialist with Carmarthen-based accountants Clay Shaw Butler Making sure you have adequate finance is a fact of life if you run a business. Whether you are looking to expand, undertake a specific project or simply fund your day-to-day purchases, finance is essential. Obtaining finance is not always easy, especially if yours is a small business or a recent start-up. Borrowing may be difficult due to lack of security. A grant may be the answer. What is a grant? A grant is a sum of money awarded, by the government or other organisation, for a specific project or purpose. Normally it will cover only some of the costs (typically between 15% and 50%); the business will need to fund the balance. One of the main features of a grant is that the money is not repayable provided that the terms and conditions of the grant are met. But, having said that, their ava...

Looking after business, the new business page column from the Carmarthen Journal By Nigel Roberts, finance and banking specialist with Carmarthen-based accountants Clay Shaw Butler Like me, you may rely on the children to provide ‘education’ on the latest developments on social media. And you probably ask yourself the question: What’s it all about? Are Facebook and Twitter and all other bits of social media relevant to how we do business? Digital marketing specialists Add People ( www.addpeople.co.uk ) have been busy studying 3,000 UK businesses to find out how they use Twitter to help drive their businesses. Here are the Top 20 tactics they discovered for using Twitter for business - 1 Help others with problems by using the hashtag # for your industry term. 2 Share tips related to your business and work-life balance. 3 Share photos of conferences, travel, products and other finds. 4 Provide selected highlights from a conference or event. 5 Report industry, company, wor...

Looking after business, the new business page column from the Carmarthen Journal By Nigel Roberts, finance and banking specialist with Carmarthen-based accountants Clay Shaw Butler It was Winston Churchill who said, “Those who plan do better than those who do not plan.” With that firmly ‘front of mind’, my last few columns have focused on different aspects of business planning. We’ve already covered writing a business plan and those early key decisions. Now it’s time to focus on other issues which face any new business. Taxation Tax will become payable on profits made by the business. The rates of tax will be different depending on the structure of the entity. Getting advice on tax planning is crucial. You also need to know when tax will become payable, what you can do to decrease your taxable profits (which may be different to accounting profits) and the most tax efficient way of taking money out of your business for your personal use. Insurance Ensure you are fully covered for a...

Looking after business, the new business page column from the Carmarthen Journal By Nigel Roberts, finance and banking specialist with Carmarthen-based accountants Clay Shaw Butler As someone who attended the old Queen Elizabeth Grammar School for Boys in Carmarthen in my youth, I can be expected to have some knowledge of the ‘Classics’. One quote in particular always comes to mind when I talk to people about business planning. It is the one from the Roman statesman and orator Cicero, who said, “Before beginning, plan carefully.” As an aim, it fits the bill perfectly, as time spent planning is never wasted. Your business plan is a key statement for your business, whether you are just starting up or whether you are a mature operation adjusting to the shifting sands of today’s economy. The business plan is used for potential investors, banks, finance companies and other stakeholders who may help you raise the money you need for your venture. It is also the key reference point...

Looking after business, the new business page column from the Carmarthen Journal By Nigel Roberts, finance and banking specialist with Carmarthen-based accountants Clay Shaw Butler All West Wales companies – from award winners to new start-ups – will appreciate that there are many factors ensuring success in today’s economy. A good quality product, enthusiasm, enterprise and innovation will be among the factors which will play in a company’s favour. Also central will be a company’s relationship with its bankers. Here, then are my Top 10 tips for making sure have a good relationship with your bankers and fund providers – 1. For your product, research the market undertaking the necessary diligence. 2. Use your bank manager or business consultant as a sounding board for new ideas. Their input at an early stage might save time later. 3. Minimise your borrowing requirement by introducing cash. Family money may also be an option. It’s less formal - and they will not in most cases research yo...

Catching up on work - story and pic, Nigel Roberts joins Clay Shaw Butler team in the Western Mail on Wednesday.

Carmarthen-based accountants Clay Shaw Butler have recruited an expert to help local business owners fight the recession. Nigel Roberts, the former head of HSBC’s commercial banking arm in West Wales, has joined Clay Shaw Butler in the role of finance and banking specialist. Mr Roberts, who has more than 34 years of banking and funding experience, will be based at Clay Shaw Butler’s offices in Carmarthen. His role will see him providing banking and commercial advice to local businesses. He can act as a business adviser for those that would like their own ‘Dragon’s Den’ type mentor. Mr Roberts will be able to help local businesses source and get access to funding to help them grow. In addition to the consultancy service, Mr Roberts will be working with Clay Shaw Butler’s dynamic and energetic team of qualified accountants to provide business plans, cashflow forecasts and management accounts. David Butler, Managing Director at Clay Shaw Butler, said: “Nigel will help the practice to cont...