In this week's episode we delve into the intriguing world of salary sacrifice; when, why, and how to make the most of it.

Salary sacrifice is a strategy that allows employees to exchange part of their salary for non-cash benefits. Claire breaks down the benefits, the impact of optional remuneration introduced in 2017, and the specific scenarios where salary sacrifice can still offer significant savings, such as electric vehicles and pensions. Learn about the potential implications on employees' net pay, mortgage applications, and long-term financial planning.

Don't forget "Talent is hitting a target no one else can hit. Genius is hitting a target no one else can see"

⭐ Share this episode with fellow business owners, and let's grow together!

⭐ Subscribe to the weekly newsletter to get Expert Advice Straight to Your Inbox: https://www.profitcashgrowth.com/subscribe

VALUABLE RESOURCES

Website

LinkedIn

YouTube

Facebook

ABOUT THE HOST:

Claire Hancott through Profit Cash Growth helps 6 & 7 figure business owners to increase their profit, improve their cashflow and grow their business using their numbers.

As a finance director & chartered management accountant, Claire has nearly 20 years’ experience in finance and running businesses of her own. This gives her a unique insight into the information and support business owners need to grow a financially successful business.

Claire passionately believes that every business should be run by the numbers because the numbers in your business are telling you a story about what is and isn’t working and where your opportunities lie. Claire’s mission is to provide insightful management accounts, reports and advice to business owners and support them to make smarter decisions.

In this special episode, Claire and co-host Simon provide a comprehensive analysis of the recent UK budget. They discuss the economic climate, political reactions, and the implications for business owners. Despite the challenging economic indicators, Claire and Simon bring clarity to the budget's impact on businesses, highlighting both the positive and negative aspects.

Discover how changes in national minimum wage and employers' national insurance contributions will affect your business. Claire breaks down the details, offering insights into how these changes could impact your costs and decision-making. She also discusses the potential effects of capital gains tax adjustments and the importance of understanding employment allowance increases.

Don't miss the opportunity to get a free tool designed to help you calculate the financial impact of the budget on your business.

Free Budget Calculator - Email marketing@profitcashgrowth.com

VALUABLE RESOURCES

Website

LinkedIn

YouTube

Facebook

ABOUT THE HOST:

Claire Hancott through Profit Cash Growth helps 6 & 7 figure business owners to increase their profit, improve their cashflow and grow their business using their numbers.

As a finance director & chartered management accountant, Claire has nearly 20 years’ experience in finance and running businesses of her own. This gives her a unique insight into the information and support business owners need to grow a financially successful business.

Claire passionately believes that every business should be run by the numbers because the numbers in your business are telling you a story about what is and isn’t working and where your opportunities lie. Claire’s mission is to provide insightful management accounts, reports and advice to business owners and support them to make smarter decisions.

In this episode, we explore the art of discounts and promotions and how a misstep could cost you millions. Imagine losing £20 million due to a discounting error! We delve into the infamous Hoover promotion debacle, where a seemingly brilliant marketing strategy went disastrously wrong, costing the company dearly and impacting its brand.

Learn the critical steps to avoid similar pitfalls in your business. Claire shares invaluable tips on understanding the true impact of discounts on your profit margins and why it's essential to know your numbers. Discover how to craft promotions that not only attract customers but also maintain profitability.

We also discuss the importance of having the right terms and conditions in place, such as the right to withdraw, to protect your business from unexpected outcomes. Additionally, Claire emphasises the power of setting clear targets and using the "power of three" to ensure your promotions are aligned with your business goals.

VALUABLE RESOURCES

Website

LinkedIn

YouTube

Facebook

ABOUT THE HOST:

Claire Hancott through Profit Cash Growth helps 6 & 7 figure business owners to increase their profit, improve their cashflow and grow their business using their numbers.

As a finance director & chartered management accountant, Claire has nearly 20 years’ experience in finance and running businesses of her own. This gives her a unique insight into the information and support business owners need to grow a financially successful business.

Claire passionately believes that every business should be run by the numbers because the numbers in your business are telling you a story about what is and isn’t working and where your opportunities lie. Claire’s mission is to provide insightful management accounts, reports and advice to business owners and support them to make smarter decisions.