Are you a business enthusiast with a passion for design and craftsmanship? At the same time, are you looking for a high-demand, rewarding venture that can offer a substantial markup? In that case, creating your own jewerly business might be just the right next step for you. Throughout the following sections, we go into detail…
The free market is defined by trade. Producers manufacture products at a certain price and consumers buy them. In theory, the higher the price that producers sell for, the more they will earn. However, consumers aren’t always willing to purchase at high prices, which is where the market equilibrium plays a role. With this in…
The checkout stage in e-commerce sites and online stores is perhaps the most important one for merchants. That’s where the sale happens and this directly impacts an online store’s longevity and profitability. For online retailers, this stage is essential. But one overlooked aspect on their checkout page is the option to checkout as a guest….
No matter whether you run a large or small business, chances are that throughout your experience you’ve come across credit notes. But what does this term mean, how does it influence your accounting, and what else should you know about it? In the following sections, we explain everything you need to know on the topic…
If you’re a business owner who works with multiple vendors and other partners, it’s highly likely that one of your challenges is related to payments. Luckily, there’s a more effective solution than wasting time and resources on individually preparing each transaction. Enter batch payments – a payment processing model that can help you pay in…
Prepayments are a popular method used for both businesses and individuals interested in purchasing goods and services that will be delivered and used at a later date. But what is prepayment, what does it represent, and how does it affect your financial statements as a business? In the following sections, we explore in-depth prepayments and…
Selling food as part of a catering service can turn into a profitable business entity and a business model that can bring home substantial revenue. In the UK, the catering industry is valued at £1.6 billion in 2024. At the same time, forecasts suggest that the number of catering businesses will continue increasing, making this…
Buy Now, Pay Later or BNPL has emerged as a highly preferred payment option among consumers, especially when it comes to online shopping. In the UK, nearly 40% of consumers used BNPL services in the period starting January 2023 and ending January 2024. But why is this a convenient way to purchase products and services…
Abandoned shopping carts are among the biggest challenges that online retailers face on their eCommerce websites. In the UK, the average cart abandonment rate is significant. In the fourth quarter of 2023, around 77% of mobile orders were not completed. Despite their purchase intent, online shoppers frequently leave their online shopping carts without completing the…
The restaurant industry in the United Kingdom (UK) is booming. There’s great demand for novel and delicious food offerings as Covid-19 recedes into the background and people look for new ways to delight their taste buds. But managing a restaurant business goes beyond merely offering tasty morsels of food. It’s also about being savvy as…
Our world is becoming increasingly interconnected. Businesses in one country often trade with businesses in other countries. Plus, there are distributed teams working remotely from different geographical locations. All this means that such business owners must make international payments to employees, clients, suppliers, partners and other stakeholders around the world. While domestic payments are quite…
A high-performing sales team is what separates a good business from an incredibly successful business. No matter the industry you’re in, the size of your business, or the nature of your target audience, sales performance plays a pivotal role in winning new customers and retaining existing ones. In the following sections, we take a deep…
With card payments on the rise, cashless tipping has become a standard practice across many service-oriented enterprises. From restaurants and cafes to beauty salons and hotels, the convenience and flexibility of card tips are appreciated by both customers and businesses alike. But how does tipping with a card work? In this blog post, we will…
If you’re a business enthusiast looking to start your own venture, there are plenty of factors to consider before turning your dream into reality. One of the most important ones is business structure. There are several different types of business structures in the UK. Each business model comes with its own legal distinction, tax implications,…
If you’re part of the property market in the UK and fall under the category of commercial property owners, an important thing to bear in mind is your annual business rates or non-domestic rates. Your local council relies on something called rateable value or business rateable value to determine the payments you need to make…
