Financial Survival

- Presentation speakers
  - Sean Donnelly
- Ensuring you have the right information to run your business.
- Ensuring that you avail of all tax credits & allowances for your business and personal tax positions.
Ensure you have the right information to run your business:
Break-even position: Do you know if your business is making money or losing money on a daily/weekly/monthly basis? We will show you how to create a simple tool to enable you calculate what your break-even position is and what sales & cost levels will enable your business to achieve breakeven & profitability.
Cash & Bank position: Do you know the extent of your liabilities and what has to be paid in the coming weeks/months? What amounts will be needed to pay payroll, suppliers, tax liabilities & bank repayments in the coming weeks/months? What amounts will come from sales & debtors? We will show you how to create a simple tool to enable you calculate what your bank/cash position is likely to be based on the above and what measures can be taken to maximise your cash position.
Cost & profitability drivers: Do you know the real costs of the products/services you sell? What is the effect of increases/reductions in sales? What prices will enable your business to maintain profitability and what levels will not cover costs? We will show you the critical factors to focus on and will highlight the issues where businesses with mixed products/services where frequently some activities/products/services/customers result in losses which are covered up by other profitable products/customers.
Tax allowances and tax credits:
Business tax: Ensuring you can avail of all available tax credits including mileage & subsistence claims, R&D tax credits if appropriate, pension schemes for directors etc.
Personal tax: Ensuring you can avail of all remaining tax credits including medical expenses, pension reliefs, tuition fees, rent allowance etc.
Business/Personal tax: Seed capital scheme, Revenue Job Assist Scheme, Employment & Investment Incentive scheme (formerly BES scheme).