Top 5 tips for productive business meetings

Business meetings are a great way to put a face to a voice or name, and to build relationships with suppliers and clients.

But are your business meetings productive? Poor planning or meetings for meetings’ sake could all be a waste of your valuable time and end up being counter-productive in the worst-case scenario.

Here are our top 5 tips for productive business meetings:

1. Be prepared for your meeting

Always have an agenda outlined and have copies for any attendees to hand – it also helps to email them over to anyone who is coming to the meeting beforehand in case they would like to add something, or if there is something you have missed or would like to research prior to the meeting date.

2. Be certain about your objectives

Do you want to solve problems, build a relationship, sign off a deal or project, sell a company service or network?

3. Time costs money

Once you have identified your meeting objective clearly, you can set about allocating a time slot. Time is money, so have a think about how long your meeting should last and try and stick to it if you can – we all know that meetings can often over-run unnecessarily!

4. Get involved

Be aware of your involvement and contribute and lead wherever possible – at the same time, try and give attendees the chance to participate!

5. Be a host

Of course, it goes without saying that tea, coffee or soft drinks should be offered but remember that small snacks are also usually very welcome; even small acts of kindness like offering biscuits usually help forge relationships.

We speak to many small business owners who don’t value their time nearly enough – an afternoon or day away from the office can be costly and often also involve plenty of stressful catching up!

If the meeting is unproductive, this can only lead to frustration.

Follow us on Twitter @OmnitasTax to keep up to date with our latest blogs specially written with the UK SME in mind – and remember, we are always here to help advice and guide with business matters as well as offering cost-effective, professional accountancy solutions!

You can request a free of charge call-back from our website or call 01902 837 408 today!

Are you addicted to the busy drug?

We see many clients during a working week and we understand what commitments mean to anyone who is running a business. As such, we are very happy to accommodate working around our clients’ individual business needs.

What we also see is a whole variety of “I’m really busy” scenarios.

When you are your own boss, on occasions it is well worth reminding yourself of certain things. One pivotal and critical element is your own time - you as a resource. Are you being productive? Are you focusing on the correct and most efficient parts of your business?

Are you addicted to the busy drug?

It appears that many of us can, at times, become addicted to the ‘being busy drug’. But let's be really clear.

Being busy doesn't necessarily mean that you are being:

1. Effective

2. A success

3. Important

Being busy could actually mean that:

1. You have poor organisational skills and fail to delegate

2. You are a people pleaser who cannot say no

3. You are suffering from a lack of clarity regarding your actual purpose

So please, never ever confuse being busy with being effective. Instead, spend a little more time trying to stop and understand what you're aiming to achieve, before you move on to take action.

At Omni Chartered Accountants, we are not just here to ensure we assist with your accountancy needs; we also care about your success and want to see your business flourish.

So as well as taking our Accountancy Price Challenge, to see how we could save you money with your accountancy bills, why not give us a call today on 01902 837 408 for some free of charge business advice? 

HMRC issue 10,000 accelerated payment notices

HM Revenue & Customs’ annual report has revealed that about 10,000 accelerated payment notices were issued in 2014/2015 to people involved in tax avoidance schemes.

HMRC can make taxpayers pay disputed tax in advance, under the rules of accelerated payment, instead of waiting for the outcome of a tax tribunal ruling. If the taxpayer wins, the monies are reimbursed with interest.

It was originally expected that around £210m would be collected as a result of the move by March 2015. However, HMRC has actually received £596m; only £28m has been refunded after legal disputes, earning £568m.

Follower notices

HMRC also issued 379 follower notices to tax avoidance users for the first time. Follower notices advise tax avoiders to pay disputed tax after court rulings in similar cases that find in HMRC’s favour. In 2014/2015, HMRC issued follower notices with a total value of more than £170m.

The report also revealed that 89.7% of complaints made to the adjudicator about HMRC were upheld either in full or in part in 2013/2014.

HMRC has been under rising pressure following cuts and also criticism over its handling of letters and telephone calls. In June 2015, it was announced £45m would be invested to improve its customer service.

The latest report revealed £210m in cost efficiencies in 2014, in areas that include reducing workforce, IT and procurement costs. Total sustainable cost savings over the past four years amount to £991m, which has exceeded the target by £25m.

The annual report also revealed HMRC’s tax income rose nearly £12bn to £517.7bn; HMRC has put this down to economic growth and the continued clampdown on tax avoidance and evasion.

Let us know your thoughts on Twitter @OmnitasTax and like us on Facebook to keep up to date with all of the latest tax and accounting news.

Accountancy price challenge

In the meantime, if your business would like to save money why not take ourAccountancy Price Challenge? We offer an excellent and professional service and free advice for sole traders and limited companies.