When a UK government authority or department procures services or goods, it is required to allow private contractors to bid on projects. This allows any interested company to submit an application to secure a project contract. The legislation ensures that there are no unfair competitive advantages and that state taxes for government projects are used economically. But what types of tenders exist...
When a company is interested in bidding for a public contract, it creates an invitation to tender based on a statement of work. This includes detailed information on the project’s goal and expected services. To make sure that the awarding entity receives suitable offers, a few points should be taken into account when creating a statement of work.
Is it possible to improve economic success without raising product prices or lowering quality? Companies that optimise their value chain can do just that. Just-in-time production streamlines procurement and production, enabling significant savings. But careful: the strategy is not suitable for every company and every industry.
The bullwhip effect, also known as the Forester effect, describes the phenomenon in which fluctuations in market demand can increase at every point in the supply chain. Even small changes in demand that a retailer will hardly notice can have a major impact on a manufacturing company at the beginning of the supply chain. The bullwhip effect is therefore important for supply chain management.
G Suite is great. That is why many companies use it. But not everyone likes to follow the crowd and some businesses prefer not to use Google’s office solution. Our article covers well-known G Suite alternatives, and some lesser-known options that might just be the perfect fit.
Before registering a business overseas, every UK entrepreneur is faced with the same question: Which business structure should I choose? So that you can answer this question with confidence, it’s best to know the difference between a corporation and a partnership. Here, we’ll introduce you to the many different types of corporations in the United States and how they differ in their rights and...
Many business owners will withdraw cash from their business and invest money from their personal accounts back into their companies. This is generally not a problem, but these contributions and withdrawals need to be recorded correctly. Here’s what you need to know to ensure your contributions and withdrawals are recorded properly.
Withdrawing from company assets for personal use is a matter of course for many business owners. After all, they have to live off something. This process is known as a withdrawal and is not always straightforward when it comes to accounting and tax law. What do you need to consider, what kind of withdrawals are there and is it possible to do this in a limited company? We provide the answers.
Payment holidays are can be a good option in times of financial hardship. What is a payment holiday, and which payments does it apply to? Who can get a payment holiday? Has the Coronavirus pandemic changed eligibility? There is a lot of confusion around payment holidays, but this article will help clarify some of your questions.
Is your company currently unable to meet its payment obligations? Are you unable to make your second payment on account? In that case, opting for a deferral of payment, in the forms of a VAT deferral or a self assessment payment deferral is an option to delay payments. We’ll show you what conditions must be met, and what you need to look out for.