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Wood and Disney is an office of App lovers. Apps make it easy to check train times, get directions and, erm, play games without using the internet. With more than 100 billion Apps downloaded globally in 2013, we know we're not the only ones.
However, we noticed that not many accountants have an App. We also know that searching for accountancy information on a smartphone can be tricky - websites made for desktops and dodgy Wi-Fi signals are our main bugbears.
We wanted to make it easier for people on the move to find the accountancy information they need, which is why we decided to create our own App.
But we’re not just jumping on the App bandwagon – the wood and disney App is designed with our clients in mind.
Having your head in the clouds is not usually a quality you would associate with a competent accountant. However, when it comes to accounting software, we are not ashamed to live in the clouds.
Cloud-based accounting software stores information online rather than on one computer. This helps you:
Most businesses fail, but yours doesn't have to.
80% of all business fail in the first five years and 96% fail before their tenth anniversary. Some statistics have indicated that Start-ups are most vulnerable in their first year when up to 50% give up and stop trading.
So lets find out why most businesses fail and consider what you can do to prevent this happening to you.
Your business doesn't make enough profit.
Obvious really but there is still a belief that you won’t make a profit until the third year. This may be true if you are being supported by unlimited investment capital but most small businesses need to return a profit to their owners within a matter of months if not weeks because they simply cannot survive without a wage for themselves and this wage has to come from profits. Another fact, which is often forgotten, is that if you make a loss in the short term you need to make not only enough profits later to pay your wages but also enough profit to pay for the losses. Losses don’t just disappear; they have been created by costs and expenses, which is either owed to creditors or has been paid for by borrowing money. Both of these sources have to be repaid.
Did you know that the UK’s oldest family butcher's is almost 500 years old? Dorset butchers RJ Balson & Son has been in the Balson family since 1515, when Henry VIII was on the throne.
Current master butcher Richard Balson says traditional recipes and personal customer service are the secrets to his family’s 25-generation success.
Ox cheeks and sausages may not be part of your business model but there are a number of factors that all successful family-run businesses should consider. These include:
1. Rules on employing family members
There are no rules against employing family members but you must not give them special treatment with regards to pay, promotion or working conditions.
They should be given a contract of employment and you will need to ensure that income tax and NI are deducted from their pay as usual.
The Wood and Disney Accountancy App was developed last year and is the unique opportunity to carry a portable accountant in your pocket and access a wealth of information at your fingertips. Although we try to be accessible to our clients, as individuals it is a struggle to be available for questioning 24/7 to all of our clients at once. Luckily, the Wood and Disney App is here to save the day!
The App can be broken down into four distinct sections. The first selection we’ll look at is the features that give our clients, or anyone else in need of accountancy backup, the information they need to understand Wood and Disney and the way we operate. Although bringing creativity and a little bit of fun to a traditionally dreary industry is our calling, we are serious about our profession and offering the best service to our clients. It is through this App that we aim to showcase that.