Managing Business Payments

Managing Business Payments

When managing money on a monthly basis it is always best to write out a payment plan.

Be brutal with yourself and allow for the unexpected expenses.

Decide also what needs paying first or like me predict when payments are coming in and when they are going out.

If push came to shove would you put a website on top of the list if it meant that without a website your main source of income would fail?

If you a bricks and mortar business and have some business walk-ins then maybe you may not want to prioritise your website. But if your website generated your main source of income you would pay your electricity, your broadband, your telephone and your website hosting first. Obviously there are other factors, such as rent, rates and staff wages, but without your business engine running smoothly your are potentially sabotaging your whole business which then causes redundancies or worse your whole business closing down.

Today I talk about overdue payments. Everyone has bills but there is a way to manage them by writing out a payment plan. It does not have to be anything fancy and it can be done with word and a table of columns (date, description, dr, cr, balance).

When writing your business plan consider that you may need extra money for an added expense not forecasted within the month. If this unexpected bill does not materialise one month let that payment roll over to the next month and so one so that when it eventually rears its ugly head you are prepared for it. Be strict with yourself and never go over your budget. If you manage to save as some months and in my case I do not get domain renewals every month but I still set myself a budget and I roll over that expense to the next month and so on.

Also highlight the most important bills you have to pay and prioritise these payments over others. This payment plan can also be incorporated into your personal expenses. At a glance each month you will then see what needs paying without receiving embarrassing reminder txt messages or phone calls.

I have added a payment plan template for your convenience below:


Brexit – If I was a Member of Parliment


If I were a Member of Parliment I would make Politics and Economics a Compulsary Subject in Schools, the reason for this to educate people to not make hasty discisions such as the predicament we are in now, with a population of elderly people who are against immigrations full stop and for the the larger majority who do not know anything about business. Only a small percentage of people are educated to understand about Politics and Economics so society is under an unfair disadvantage.

I have my own opinion on Brexit but I have just had an interesting conversation with my 18 year old daughter that opposed my idea that the people of the UK should not have had a right to vote in the referrendum about the desicion to stay or leave the EU.

She explained “In my opinion, I agree with the government in the sense of relying on society to confirm a choice of whether we remain in the EU or whether we decide to leave. The reason behind my viewpoint is simply due to the fact that the government needs to contain their social control, if, for whatever reason, they decided to put matters into their own hands and make the decision on behalf of society, there could easily be a moral panic, an instance of public anxiety in response to a problem regarded as threatening the moral standards of society. For those members of society who’s values are against those of the governments decisions would form a lack of trust and create animosity towards the government, overall causing a decline in social cohesion”. Written by Zena Maziak.

Obviously if the Government have messed up and have not put their house in order and not implemented laws such as reducing asylum seekers or immigrants with no prospects of work then the people that were responsible should step down.

Obviously I do not the full extent why Brexit started as I do not proclaim myself to be an Economist other than what I know was a rise of an EU Budget that the European Parliment were not happy. After all the UK has never voted on being part of the EU, which was formed at the time of the Maastricht treaty in 1993.

According the MPs who have always wanted not to be associated with the EU have said Brussels has been on a mission to expand its powers and sought further political integration, which is far removed from what the UK originally wanted. Britain appear to have decided that this was their one chance to leave a union they never particularly embraced and did not consent to in the first place.

*I for one if I was a Prime Minister would start off with cleaning up the people in power who have no clue what they are doing.

*I would then put a cap on wages and expediture. So if you earn say £1M per annum you should pay for example 2% extra tax per year. People that earn a certain amount of money should pay higher taxes and all footballers should have a wage cap and the rest of the profits these clubs make should go back into society. Any blue chip companies that hits a threshold either should pay higher taxes or return their profits into society.

*I would concentrate on the NHS and Businesses in the UK.

*Finally stop asylum seekers draining our resources ( I would make sure for every asylum seeker there would be a job waiting, if not they would not be allowed in and would have to go to a country that could provide work for them. All immigrants would have to have a job before entering the country and if they were to loose their jobs they would have up to 3 months to find a new one or leave. They would have to have work permits that would have to be updated each month by an employer and if they then left the country and tried coming back without an updated work permit they would be refused entry.

I would make small businesses pay smaller taxes and bigger companies pay more or give back into society with a cap on profits, this would include banks and all blue chip companies.



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