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The benefits of benchmarking.
At Aequitas we can provide businesses in the Pinner area with assistance and advice on a wide range of business issues. Here are ten reasons to benchmark your business...
More and more businesses are discovering the benefits of benchmarking and of developing a plan of best practice. Is it something that your business could consider?
In a nutshell, benchmarking involves measuring the performance of one's business against that of others in similar markets. It has been described as "the practice of being humble enough to admit that someone else is better at something, and wise enough to try and learn how to match and even surpass them at it."
A good benchmarking review will allow you to determine how well each aspect of your business is faring, discover areas where you need to improve, and develop a plan for achieving those improvements. Before you can decide where you are going, you need to know where you are now - and benchmarking can help you do this.
The Government-funded Small Business Service cites ten key reasons for implementing a benchmarking process for small businesses:
If you are in the Pinner area and would like professional assistance from experienced accountants and business advisers, contact Aequitas.
08 Dec 2021
The UK's economy will grow more slowly than previously expected, according to the latest data from the Confederation of British Industry (CBI).
07 Dec 2021
A report published by the Institute for Fiscal Studies (IFS) has suggested that the gender pay gap 'has barely shifted' in the past 25 years.
06 Dec 2021
A typical UK family will spend £1,700 more per year on household costs in 2022, according to a forecast for BBC Panorama.
03 Dec 2021
Banks and building societies have been urged to consider changes to lending criteria to help so-called 'mortgage prisoners'.
02 Dec 2021
As part of its Tax Administration and Maintenance (TAM) Day, the government responded to a two-part review of capital gains tax (CGT) published by the Office of Tax Simplification (OTS).
01 Dec 2021
The UK government has marked the inaugural Tax Administration and Maintenance (TAM) Day with the release of 30 papers covering a wide range of tax issues.
30 Nov 2021
Optimism improved for firms across the services sector in the three months to November, according to the latest Service Sector Survey from the Confederation of British Industry (CBI).
29 Nov 2021
Research carried out by manufacturers' organisation Make UK has suggested that more than a third of manufacturers in the UK are struggling with rising costs, debt and business red tape.
If you feel our services and expertise could support your business or for individuals, please call us today to book a FREE consultation.
Aequitas Accountants Ltd,
Elthorne Gate, 64 High Street, Pinner, Middlesex HA5 5QA
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