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Yes, this is indeed the current plan for this financial year! I moved into new premises and had to invest in a number of areas - but what's also eroded margin is testing new marketing.
I didn't know accountants could do that - i.e. access our bank account! Is that normal practice??
I'm paying into a pension but my main focus has been growing the business. It's hard to plough money into both. But, I'm now thinking about what the next steps are - whether I should double down on growth with the plan of selling in 10 years OR escalating the pension to make that a priority (but...
There isn't anyone actually working in the business at the moment that would be a suitable fit for taking it over. As a small business, it definitely hasn't warranted a management team. Perhaps if we get to £1m turnover and we can get more economies of scale, we could look at that.
No back up...
Honestly, I think it could trundle on for a little while (if I could still make bank payments etc.). But, I'm definitely a key part of it at this stage.
Thanks everyone…
Firstly, I’ll say that have no interest in bringing in a partner to grow the business. I can’t think of anything worse 😂 I employ a small team who pack orders and help customers, and I can bring in expertise with external partners as and when there’s a need.
To answer some...
I launched my ecommerce business 14 years ago. I'd say it's been a solid lifestyle business (i.e. £400k turnover, grown fairly organically, small team... turning a profit but not making the profit I would ideally like).
I've been thinking about my long term plans - specifically, the someday...
I have an ecommerce business using Shopify, and I'm looking to move from Kashflow to Xero. Some questions:
Do you integrate Shopify with Xero to get all the transactional data - not sure if this is too granular as there would be so many transactions in there?
How important is it to import...