The Holistic Accountant Stuart Wemyss & Mena Abraham

In this episode, Mena and Stuart delve into acceptable profit margins and strategies to improve them. They emphasise regularly reviewing and adjusting pricing to reflect cost increases while considering pricing power (Episode 5, Season 1). The hosts recommend analysing profit and loss statements, negotiating better supplier prices, and exploring alternatives to optimise input costs and inventory management.They discuss evaluating employee performance, providing training, ensuring productivity...

In this episode, Stuart and Mena discuss the challenges and potential strategies for businesses that are heavily reliant on a single major customer. They acknowledge that while having a large customer can be advantageous, it also poses significant risks due to the lack of diversification and potential loss of revenue if that customer relationship were to end.The hosts outline three main options for businesses in this situation: 1) Actively pursuing new customers, potentially through acquisiti...

In this episode, Stuart and Mena dive into the invaluable benefits of outsourcing your bookkeeping function, highlighting how it can be a game-changer for businesses seeking to streamline operations and boost profitability.They emphasise the importance of having an expert team deeply integrated into your business, ensuring accurate data flow and enabling your accountant to provide meaningful insights. By outsourcing bookkeeping, businesses can improve invoice and receipt management, leading t...

In this episode, Stuart and Mena dive into the different finance solutions available for asset finance and discuss the pros and cons of each option. They start by outlining the main types of asset finance:Chattel Mortgage - The lender takes a mortgage over a specific asset like equipment or vehicles and provides funding secured by that asset. This is one of the most common options.Hire Purchase - The financier purchases the asset and the client takes out a loan to pay it off over a fixed peri...

In this episode, Stuart and Mena debunk common tax minimisation myths perpetuated by some accountants to attract clients. They delve into strategies often marketed as tax-saving methods but may not necessarily be beneficial in the long run.One such myth revolves around the promise of quick tax refund turnaround times, which should not be the sole driving factor in choosing an accountant. Additionally, they address the misconceptions surrounding motor vehicle expenses and the potential pitfall...

In this episode, Stuart and Mena delve into a critical topic: "Who’s going to look after your business when you die?" Tune in as they navigate the complexities of estate planning for business owners, addressing key considerations to ensure the continuity and prosperity of your enterprise.From selecting capable executors to identifying competent successors, Stuart and Mena guide listeners through the crucial decisions that shape the future of your business. Explore the intricacies of determini...