MONEY: Practical, simple finance tips for small business owners with Anastasia Webber from Hummingbird Finance

What’s this episode about?

Managing my finances as a small business was a big adjustment for me both practically (saving for my tax!) and mentally (you mean the price I charge isn’t the money I actually make?!). I had SO many questions when I started and couldn’t find anywhere to tell me exactly what to do, step by step. So in this episode that is what Anastasia and I try to do. We’ve gone back to basics and talk about all the really important things you need to know about your finances, especially in those first few years.

Episode key takeaways:

• We answer common questions like:
• Do I need a business bank account?
• Is a spreadsheet ok or do I need software like Xero? 
• What is the difference between bookkeeping and accounting?
• When do I need to invest in a bookkeeper or accountant?
• We also cover:
• Why is it important to know your business numbers, especially with the current climate,
• A simple system for receipts 
• What are tax-deductible expenses (and what aren’t!)
• When should you be a sole trader vs a limited company (and what impact that has on you and your business)
• Using Profit first to structure your finances

NOTE: This podcast was recorded in Summer 2022 and some of the specific tax thresholds or other information may have changed since the recording. We’d always advise you get specific advice about your financial situation from an accountant at the point you need it.

KEY LINKS:

Join Facebook group: Female business owners empowered about business finances

Get the ‘5 step method to get you in control of your business finances’

Profit first book - Click here

Website: www.hummingbird-finance.co.uk

Instagram: @hummingbird_finance

INTRODUCING… ANASTASIA

Anastasia is an ICAEW chartered accountant with over 8 year’s experience in the finance industry. After working her way up, the corporate ladder she left to start Hummingbi rd Finance with the aim of helping small female-led businesses with accounting and boo kkeeping so they could focus more on what they do best to grow and achieve success. Anastasia’s core values are approachability, trust, communication, and enthusiasm. Sh e’s super passionate about helping women entrepreneurs feel empowered about their fina nces at whatever stage of business they are in. Outside of finance, you’ll find Anastasia relaxing in the evenings with a glass of win e, watching the sunset or a trashy Netflix series. She also loves to travel the world but nothing will feel more like home to her than walks in the Devon countryside with h er dog Tucker!

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