Invoicing is a major issue for all service businesses – one of the top five issues, certainly. Sales is certainly THE top issue, we should all be able to agree, but because invoicing reflects sales, in this sense invoicing is as important as sales. Invoicing is the MIRROR of your business, in both quantity and quality.
SOMETHING TO DO RIGHT NOW: Check how many invoices you are sending out on average per month. Now, resolve to set yourself one goal for next month: double it!
In an attempt to encourage the establishment of new companies a three year remission from taxation from profits and capital gains for companies with a tax liability of less than €40,000 per annum was announced in Budget 2009. The aim is to provide a stimulus for entrepreneurs in a challenging commercial environment.
Companies that qualify will be fully exempt from corporation tax on trading profits and chargeable gains on the disposal of assets used for the new trade where the total amount of corporation tax does not exceed €40,000.
EU Finance Day for SMEs reveals:
- Irish banks have not sought to avail of EU financial instruments to assist SMEs
- Risk-averse nature of banks means government intervention necessary
- Government must stop being part of the problem delaying payments to small businesses
For anybody looking for information on what grants may be available for employment, research & development, capital investment, feasability studies or setting up a website, in addition to your local City or County Enterprise Board, you should also check out a very useful website called European Union Grants Advisor.