General Business and Finance Blog

Blackpool-based specialist accountants for contractors, Danbro, is bucking the trend of decreasing sales and rising unemployment by continuing to grow its business in 2009.The town has suffered a big rise in its jobless total in recent months, with latest figures showing over 3,300 people now claiming jobseekers’ allowance, following cutbacks at several high-profile firms and the abandonment of job creation schemes such as the ‘super casino’.But Danbro’s success has continued, with eight new members of staff recruited so far this year, buoyed by strong demand for its umbrella and limited company services, aimed at the thousands of temporary and freelance workers in the UK.The firm opened an office in London last July, and expanded into Manchester earlier this year. It also acquired rival firm Safe Business Solutions (SBS), bringing its client base to around 2,700 active contractors and just over 1,000 limited companies.It also recently achieved ISO9001 accreditation, which confirms it adheres to an internationally-agreed set of standards for its management systems, and an Investors in People award in recognition of the training and development of its staff, while it has continued to invest in IT with the launch of a new website and back office within the last six months.Danbro’s Gareth Richardson said: “Blackpool’s unemployment figures are increasing at a higher rate than the national average and potentially undesirable job creation exercises such as the ’super casino’ have failed. Danbro is creating and safeguarding long-term, highly skilled and highly trained jobs in the region.”Danbro is not resting on its laurels, and is set to continue its expansion with plans to open a second office in London as well as one in Birmingham later this year.For more information contact Danbro on: Head Office: 01253 600140 London Office: 0207 836 84000Manchester Office: 0161 238 4918or visit www.danbro.co.uk

Specialist accountants Danbro are setting their sights on success in prestigious national awards for the accountancy sector in 2009 after being pipped at the post this year.

The firm, which specialises in working with contractors and freelancers had been shortlisted in the Small Firm of the Year and Best Use of Internet: Practice categories in  the 2008 Accountancy Age Awards, which were announced on the evening of 12 November at a ceremony at Battersea Park Arena, London.

The awards recognise the very best accountants in business, practice and in the public and voluntary sectors across the UK.

Managing partner Damian Broughton said: “While we are disappointed not to have won, being shortlisted for two Accountancy Age awards is a real achievement in itself and demonstrates the dedication shown by the whole Danbro team. Now we are hoping to go a step further in 2009 and become an award winner.”

Danbro’s shortlisting for the awards was another significant event in an excellent year for the company. During 2008, Danbro has opened a London office, been ranked one of the fastest growing private companies in the UK in the Sunday Times Fast Track 100 league table and rated in the top six in the best accountancy firm and best umbrella service categories by voters in a poll on the Contractor UK website.

Its high quality support was also recognised in an independent compliance audit by Professional Passport, which described Danbro as providing “compliant solutions combined with excellent customer service” and it received HM Revenue & Customs’ seal of approval after a successful December 2007 compliance visit.

For more information contact Danbro at their head office on 01253 600140 or their London office on 0207 836 8400.

Find out more at News, DANBRO – Umbrella Company

In putting up any kind of business, the end goals are primarily profitability and progress. Magnifying your money is the target endpoint. To be able to do such, you ought to focus on a very important aspect of your business- Business Finance Management. Below are some tips that you can follow not just to ensure the sustainability of your company, but to probably maximize its potentials.

1. Raise Money- Lots and lots of it. Businesses need more than sufficient funding. They need funds for the expected expenses, more funds for unexpected problems, and reserved funds for possible beneficial ventures. As such, when you are attempting to look for funds and possible investors, maximize the opportunity. Prepare big time but feasible business propositions. When opportunities for investment and profit knock on your doors, take chances and welcome the chance. However, you ought to grab the risks only after you have carefully examined the possible consequences of your business venture.

2. Acquisition is not always the answer. During business ventures, there is always plenty of room for additional expenses. Your first budget allocation for a certain expense may not be enough. You may need additional equipment and materials that require you to make unexpected expenditures. In such cases, note that buying what you need is not the only option. Look for alternatives such as renting or leasing the equipment you need. However, do take note of the rental or leasing fee versus the acquisition expenses, in accordance to your time frame for equipment usage.

3. Inform the concerned. In business ventures, you ought to keep pertinent parties aware of whatever is happening in your business. Pertinent parties refer to those who will be affected by the profitability or fund inadequacy in your business. These parties include your bank, your investors, your suppliers, your customers, and even your inland revenue representative. Realize that keeping them informed maintains good business relationships. It may also heighten their concern for your business needs such as additional funds and/or more profitable business deals.

4. Welcome Renegotiations. There are some cases when your investors, suppliers, and customers ask you for renegotiations on your transactions. Be open for such possibilities and options. Avoid limiting yourself to uniform business deals. Recognize that suggestions made by the people you are working with are worth your attention. This will not only help you maintain good business relations with them. Instead, it can open your doors to business opportunities which may prove to be beneficial in the long run.

5. Stick to strict payment and debt procedures. Renegotiation starts and ends with business deals. They should not extend to your payment procedures and debt accountability. When allowing your customers to go on credit, do a thorough financial check first. Set clear procedures for payment and be sure to follow them, without exceptions. You should also set a specific deadline for each debt. Realize that a service or product on credit is a potential loss for your business finances.

6. List everything. This may be a tedious task but such may prove to be very beneficial for you in the end. Realize that no matter how big or small your business deals are, all of these mirror how you manage your finances and all of these affect the overall outcome of your business venture. As such, you ought to practice proper bookkeeping and accounting.