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Five things to consider measuring in your small business

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When you’re running your own small business it can sometimes be a challenge just staying on top of your everyday work, let alone managing all the things you need to do behind the scenes.
But if you can dedicate some time to measuring a few important pieces of admin in your business, you may find that you’re likely to work more effectively and give your business the best opportunity to grow.
How you’re spending your time
If you bill clients by an hourly or daily rate, you’re probably already tracking your time to ensure you charge for all of the work that you do. But monitoring your time is still a very useful habit to get into even if you don’t bill this way.
By identifying how much time you actually spend on working for clients compared to managing your daily business admin, you’ll be able to see how profitable your business really is and which clients are potentially costing you money.
If you track admin time, and other unbillable time, you’ll also be able to see exactly how much time you’re spending on your business that you can’t charge for. It may well be more than you think!
And if your business offers a range

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Hot Business News Today

EU referendum: The self-employed plan to vote on a personal level

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According to a study by Intuit QuickBooks of 1,000 self-employed workers across the UK, 72 per cent of self-employed workers will cast their EU referendum vote according to personal or political preference, with just one in five (20 per cent) entering the ballot box with their business or career in mind.
Despite placing a personal choice before their business, the referendum remains high on the self-employed agenda and a huge majority (95 per cent) will make sure their voice is heard.
Their vote is currently evenly split with 41.9 per cent set to vote ‘remain’, 41.3 per cent voting ‘leave’ and 11.4 per cent still undecided.
Implications of the EU Referendum
Regardless of this even split, the clear majority (62 per cent) of self-employed workers admit to being concerned about the implications of the EU Referendum result on their future self-employed prospects, but most (57 per cent) believe that in times of economic uncertainty it is still more reliable to be self-employed, rather than working for a full-time employer.
In the event of a Brexit vote, 82 per cent would choose to remain self-employed, rather than trying to find work with an employer (18 per cent).
Just 14 per cent of self-employed workers have fully prepared their business

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