Let’s face it, business is a struggle at the minute for any plumbing and heating firm. You might have full order books but staff could be jumping ship for pay rises in other businesses. You might have to pay recruitment fees to recruit new engineers and then there’s the cost of training them and getting them installed in your business. Fuel prices are increasing, Bounce Back Loan repayments are in full swing all coupled with customers taking longer to pay because everyone else is feeling the pinch. All of these can have a negative impact on your cash flow. So, what can you do to ensure your business is as lean as possible? Have you heard of the traffic light system?  Let me explain now… Review your bank statements regularly. Quarterly is ideal. Carefully check every bank payment transaction on your bank statement and categorise or even better highlight them as follows: Green = This expenditure is vital for my business. There is no cheaper, suitable alternative. A green example ma...

Trade for a plumbing and heating business tends to fluctuate with the seasons. In the colder months, the phone keeps ringing with breakdowns, installations, repair works etc. As we move into the summer months when people use their boilers less, the breakdown calls tend to tail off, therefore, decreasing the workload. But it doesn’t have to be this way… There are many ways to effectively deal with seasonality. I’m going to share four with you but brainstorming with your team on what would work best for your business could be a good place to start. Existing clients Drumming up new business with your existing client base is a great way to get started. People who have been through the know, like and trust process are more likely to be interested in working together again. It is so much cheaper to look after your existing client base than it is to acquire new customers through advertising and promotions. Commencing April 2022 the government announced some VAT changes. If you search for VAT ...

As a business owner, you know that having the right tools and resources is key to success. That's why we created Business in a Box, a subscription service that provides plumbing and heating businesses with all the resources they need to succeed. Each month, we add at least 5 new resources to our library, including templates, systems, documents and more. Everything is customisable so you can make it work for your business. Keep what you want, delete what you don't and edit everything however you like. This month we shared: Referral System Public holiday out of office template Late payment template Late payment letter before action Small Works Job Checklist Example Policies Employee Handbook Example Apprenticeship Agreement Example Zero Hour Contract Boiler Service Plans Here is a video to show you more about this month's updates: I think you would find it helpful in managing your business more effectively. Let me know what you think! Get in touch today at info@togetherwecoun...

I feel it’s important to talk to your ideal customers, so all your external messages to your customers are aligned and it’s clear who you, as a plumbing and heating business, want to look after, the type of work you want to do and the areas covered. I recently had a conversation with a plumbing and heating client, and we were on the topic of enquiries. He receives a lot of enquiries for small plumbing works such as tap replacements and washers. Small jobs which his business can do, but not where he specialises or where the money is at. We dived into this and established that on his website, the company clearly states, ‘no job too big or small, we change anything from a boiler to a tap replacement or washers.’ My understanding of how a search engine works is that if people are searching for something, the relevant website which matches their search criteria will pop up. If people in my client’s local area want a tap replacement or need their washers changed, they’ll Google that an...

Imagine being able to run your business with little-to-no effort on your part. That's the dream right? If you're a plumbing and heating business owner, there's a good chance you're spending more time working than you want to. In fact, UK small business owners work over 2000 hours of overtime per year (source XLN.co.uk) . Not what you had in mind when you started out I’m sure. When you're constantly feeling overwhelmed and overworked, it can start to take a toll on your health and wellbeing. And it's not just your own health that suffers - being overworked can also have a negative impact on those around you, including your family, friends, and co-workers. But what can you do about it? Starting and running a successful plumbing and heating business takes more than just having the right skills. When it comes to running a plumbing and heating business, the more organised you are, the smoother things will run. Imagine how much more productive you would be ...

It is often tax-efficient to trade as a limited company as opposed to a sole trader or partnership. This is because the tax rates on dividends and profit tends to be lower compared to national insurance and PAYE. A lot of people choose to trade as a limited company where they own a share of the limited company, i.e. be a shareholder* and they would be the director** of the limited company. This article is going to explore effective ways of paying a shareholder and director from a limited company. 1. Salary - The most common and obvious route is to pay yourself a salary. This is when you are employed by the limited company. Being employed by the limited company means you will have to set up a PAYE scheme so you can then produce periodic payslips, usually processed monthly. For the 22/23 tax year the tax efficient salary for a one director company is £758 per month (see other article link). By running this salary through the payroll, you will not pay any national insurance and you will r...

Have you been thinking about employing a member of staff?  Perhaps it's your first time. Maybe you have been a sole trader until now but the work keeps on coming and you need the extra help. Or maybe you're a seasoned employer considering creating a new role within your business. Whatever your circumstances, there is a lot to consider. You need to take your time to consider the true cost to the business. Firstly, there is their salary. No doubt you want to be paying your staff a fair wage for the work they are doing. After all, if they can do the same job for much more elsewhere, they may not remain loyal for long. For the purpose of the blog, we will use a £28,000 salary as an example. Next, you need to consider your National Insurance contribution. At the time of writing that is 15.05% of their salary over earnings of £758.01 per month (please check here for the most up to date information https://www.gov.uk/national-insurance-rates-letters ). £28,000 – (12 x £758.01) – 15.05...

Running a plumbing and heating business is hard. Together We Count are fortunate to look after the accounting function for plumbing and heating businesses of all shapes and sizes. Over the years we have identified a few key traits that separate the men from the boys or ladies from the girls. I’ve written this blog to provide you with exactly what these key traits are. We are sharing this information so you can not only learn from what we have seen works wonders but also so you can develop your business. The key traits are mainly tips for plumbing and heating businesses, but the traits can apply to all trades and industries. 1. Have solid terms and conditions in place. It’s one of those things that you normally realise in hindsight. After a client has complained or pointed the finger. It’s important that you have your terms and conditions in place before that happens. Together We Count can give clients’ access to Markel Law Hub where they can download standard templates for terms a...

Here at Together We Count we are feeling particularly generous, so we have two giveaways for you. A free book A business development service Read on to find out more............ Firstly, I offer you a book, The Quote Checklist.  Here is the link  to download it. I think you’ll find it useful. Together We Count are expert plumbing and heating accountants, and the book was written by our director to help plumbing and heating businesses and all domestic trades, improve their quoting systems and win wore business. Secondly, I would like to invite you to draw on our expertise, completely free of charge. One of the things we like to do is get our entire team together regularly and get them all brainstorming how to make our clients' businesses more successful and profitable.   We always focus on one business per meeting – and I wondered if you would like us to brainstorm your business? At the end of it, Aaron (our director) will jump on a video call with you to discuss ...

Systems, processes, and standard operating procedures are vital for all businesses. It is something I tell my clients time and time again. Bulletproof systems are the key to growing your business. After all, as your business grows, there is no way you can be around to supervise everything that goes on. There are simply not enough hours in the day! There are many examples of well-systemised businesses that you encounter on a daily basis but perhaps you’ve never given it a thought. Fast-food chains are a great example. After all, no matter which Mcdonald’s you go to, you know what to expect. The fries always look and taste the same, the burgers are built in the same way and the process of using the drive-through is a well-rehearsed and foolproof system. The same goes for coffee shop chains like Starbucks and Costa. Michael Gerber, author of The E-Myth Revisited dives into the importance of systems for any business and it is a book I highly recommend for any business owner or someone loo...

Do you have a charity close to your heart? Most people do. Perhaps they have supported you personally or maybe they support a cause you feel strongly about. Whether you run marathons, bake cakes, dress up in silly outfits or shave your head for your worthy causes, did you know that if you make a donation through your company, you can reduce the amount of Corporation Tax you pay as a charitable donation can be claimed as an expense. This is good news on multiple levels. Not only can you reduce your tax bill (which no one has ever complained about!), but you can also get your whole team involved which could ultimately lead to more money for your chosen charity. There are so many ways your company can incorporate donations into their normal working day. Donate for every customer satisfaction survey completed Donate for every new client you bring on board There are even companies that donate 1p for every email sent Charity Christmas balls for the staff Donate a product or service to the lo...

Rishi Sunak announced at the time of the 2021 Budget that the Government was going to roll out Help to Grow Management course aimed at turbo charging the UK economy as we strive to come out of the Covid stranglehold. In this blog we look at the key information. Who is behind this course? The UK government. It was announced in the 2021 Budget. What is the aim of this programme?  To provide chief executives or members of a senior management team the skill set to develop their reach in growth markets. To improve employee engagement. To strengthen each business’s resilience against any future shocks. The Government want to ‘turbo charge’ the UK’s post Covid economic recovery. Where can you access the course? This is on offer around the whole of the UK? What is the nature of the course? It is a 12 week programme. It is designed to be manageable alongside full-time working . 8 online two hour sessions 4 practical, face to face, case study workshops. 1:1 support from a business mentor...