Various expert Partners at Crowe Clark Whitehill, a leading audit, tax and advisory firm, share their expectations below ahead of the UK Chancellor Phillip Hammond's Spring Statement tomorrow.

Dinesh Jangra, Partner, Head of Global Mobility Solutions, calls for measures to help the UK retain and attract talent and investment: “Let there be no doubt, UK PLC will benefit immensely from the world’s best talent being here. The question is what role can the UK tax system play in encouraging this?

Regardless of what is announced in the Spring Statement, Brexit looming in the background and this is causing concerns around the UK’s attractiveness for talent and investment. With that in mind, I would like to see the UK tax system in the area of mobility (expatriate tax breaks) being reviewed to enhance UK attractiveness. The tax effectiveness of non-domicile status has been eroded over time and while we have overseas workday relief and temporary workplace relief, I question if they are enough to continue to attract the best talent to the UK. Often, employers take on the UK income taxes due in respect of employees under tax equalisation arrangements so more UK tax breaks can reduce overall employer tax costs.”

Stacy Eden, Head of Property and Construction, calls for a stamp duty cut and a freeing up of Green Belt land to reinvigorate housebuilding: “An SDLT reduction would free-up liquidity in the market, which will ultimately increase housing transactions and sales, which are currently at extremely low levels. We may even find that it raises more money. There is a broader concern that our tax system is not favourable to property investors and developers, which is not surprising given we have one of the highest property taxes amongst OECD countries.”

“I’m looking out for the Chancellor’s approach to simplifying the planning process. He could reinvigorate UK housebuilding by freeing up more areas of Green Belt land. Investing in planning departments to try and get closer to housebuilding targets is of great importance. We are currently well short of targets and this is contributing to higher house prices in certain areas.”

Rob Marchant, VAT Partner, calls for VAT reform to stimulate the residential build-to-rent market: “It may be an ambitious ask, but I would like VAT changes to encourage the residential build-to-rent market. If rental income were treated as zero-rated rather than VAT exempt, it would allow landlords to reclaim VAT on running, management and repair costs.”

Matteo Timpani, Partner, Corporate Finance, calls for Entrepreneurs Relief to be expanded: “I would like to see the government retain and even expand the reach of Entrepreneurs’ Relief (ER) and other tax reliefs, aimed at rewarding enterprise for UK entrepreneurs.

Recent soundings around restrictions to Enterprise Investment Scheme (EIS) relief and other reliefs designed to foster growth in the UK economy can cause uncertainty among a community of risk accepting entrepreneurs, the success of which, in the mid-market, drives our economy.

The government should be careful not to underestimate how much of an incentive ER is for business owners to drive growth and ultimately create wealth and jobs for the UK economy as a whole.”

Johnathan Dudley, Partner, Head of Manufacturing, calls for clarity around pensions for SMEs: “With Brexit on the horizon and the possibility of yet another general election, what businesses really need is a period of stability and for politicians to provide some certainty.

Provided this ‘certainty’ is forthcoming, I would expect to see further changes to pensions provisions, aid for businesses to strengthen their international trade capabilities and the tightening of provisions to IR35 and tax evasion rules around employment and self-employment.

Many SMEs have invested time and effort into dealing with pension auto-enrolment duties and a relief for these businesses around payroll provision would be welcomed and well deserved.”

Caroline Harwood, Partner, Head of Share Plans and Reward, calls for clarity about remuneration in light of the Rangers EBT case: “During 2017 we saw the introduction of yet more measures to tackle remuneration structures designed to avoid tax, including a charge on all outstanding ‘disguised remuneration loans’ made to employees by Employee Benefit Trusts (EBT) or other third parties, as well as the new ‘close company gateway’.

The Supreme Court decision to favour HMRC in the ‘big tax case’ against Rangers FC brought the ‘redirection principle’ into the foreground, in ruling that payments via EBTs qualified as taxable income. Initially, the interaction between this new case law, the disguised remuneration rules and arranging such salary sacrifice into a pension scheme, was unclear.

HMRC have made statements as to how they expect these rules to interact in certain cases in the future, but formal clarification in the Spring Statement would be welcomed.”

Financial professional and Founder of Texas-based Hybrid Financial Rocky Campbell established his company to offer premier retirement services and believes in doing business with integrity. Below, he discusses the financial services that his company offers, as well as his tips for a well-organized retirement plan.

Please tell us a little about the financial services that you help clients with.

While Americans are presented with an ever-changing financial marketplace, making the right financial decisions at the right time can be critical to achieving their financial security and accomplishing financial objectives. Hybrid Financial will guide the process of identifying financial goals, account organization, risk analysis, and problem solving to help their clients accomplish their financial goals safely and simply.

What would you say are the specific challenges of assisting clients with financial solutions?

Not every client is a right fit us and realising that from the start will save both of us time. I’m not the jack of all trades I’m a specialist. Specifically, a specialist in safe money solutions and income producing retirement strategies. I’m real - I don’t tell people what they want to hear. I stick to a single message - safety of principal. I’m a hardworking and straightforward person I believe that if you do the right thing for people, things will work out for you.

What are the most important aspects that need to be ironed out in order to achieve satisfactory result and a well-organized retirement plan for your clients?

We form a strategy that will best fit the client’s needs and will help them feel confident about their financial future.

How do you assist clients with finding out if they are compliant with federal requirements applicable to retirement?

Compliance is important. Our compliance officer will ensure that as the world changes around us, we change with it and notify our clients of any regulations that need to be adhered to.

How can your clients ensure that as much of their estate goes to their family on their death?

We use beneficiary driven products that bypass probate and go directly to the named beneficiary. We believe that all money should go to the family. A living will, or trust can also assist in providing clarity during time of death.

What’s Hybrid Financial’s philosophy?

I don’t do things that I don’t really, really believe in. And something I believe in is the message of the tortes and the hare. Now the hare was fast, but the tortes won the race. Slow and steady wins the race. If we can prevent our clients from going backwards and losing any of their assets to fees and stock market declines, they have more power to win the money game. That’s what I do - I help people slowly and steadily win their financial race, one person at a time.

With more businesses looking to finance the next chapter in their expansion and meeting dead ends, is it time to consider a different method.  Whilst traditional lending can help, more and more business are using Peer-to-Peer lending to ensure that when they need to take the next step of their growth they can do so without the constraints that can come with conventional lending.

This month, Finance Monthly had the privilege of speaking with Angus Dent, CEO and Jerry Gilbert, Commercial Director at strongly growing peer-to-peer (P2P) business lending platform ArchOver. Founded by Angus, together with COO Ian Anderson, in 2014, to date the company has facilitated over £60million in total lending and is fully FCA-authorised. Angus is responsible for developing the overall policy and strategy of the business and ensuring its delivery by the management team. On a day-to-day basis, he is also engaged with borrowers, high-value lenders and strategic partners. Jerry joined ArchOver in September 2017, to provide strategy and structure around ArchOver’s growing commercial activities.

Here they tell us about the optimistic atmosphere surrounding the company at the moment and the significant appetite for the way ArchOver lends.

Typically, what do companies use the finance raised through ArchOver for?

Angus: Our borrowers use the finance raised through our platform for a wide variety of things – no two businesses are alike, after all. They might need a cash injection to fund a bigger office, or to service a major new contract they’ve just won. Or they might be looking to refinance after finding that their existing facility isn’t willing to grow and change with them – we can help them to pay off their existing commitments and secure additional finance to fund their next stage of growth. For some companies, it’s used as day-to-day working capital, freeing up other funds for growth activities.

Jerry: The key point is that SMEs can’t achieve their full potential without the right financing.

For many of the companies that make it out of the start-up phase, financing can be hard to come by.

Many waste months or even years chasing down a single angel investor or debating back and forth with the big banks. SMEs’ great strength lies in their agility, and they need agile funding to match that. The P2P model makes the funding process shorter and simpler, and helps companies get on with the business of growing.

What are the risks of peer-to-peer lending?

Angus: It’s probably best to think about it in terms of the security provided rather than the risks involved. When you’re selecting a peer-to-peer investment or loan to make, you’d naturally want to know about that security that’s provided with it. At ArchOver, when we consider levels of security, we typically look at trade debtors and contracted recurring revenue, both of which are assets that offer good security, since both of them provide cash from which a loan can be repaid. In my opinion, when evaluating security, people would want to look at an asset that is designed to turn into cash - because this means that there’s a flow of cash, which will guarantee the repayment of their loan.

An asset such as property in contrast, is a very liquid asset and would not be as secure, since it could take years to sell a property and there’s not necessarily any cash that flows from it. It’s vital to evaluate how security fits with your objectives and with what you find acceptable.

Jerry: It’s also worth mentioning that ArchOver is quite unusual in looking at those two parts of the business. Many of our competitors in the peer-to-peer space and the traditional lending space will achieve their security from a personal guarantee which is in most instances attached to the company director’s property and has all sorts of connotations.

Angus: This should then make you question whether it provides any security at all - you’re lending to the business. Either the business can afford and service the loan or it can’t. What value does bringing additional assets into play have?

How do you evaluate the ability of a business to fulfil its repayment commitments?

Jerry: Evaluating a business’ ability to fulfil its repayment commitments is not a simple, one-off job. Here at ArchOver, the process covers the entire lifecycle of the borrower, from the moment they are in touch with our Commercial team, to when the loan is fully repaid.

Every prospective borrower must pass through our extensive Credit Analysis before their loan is made available to lenders on the ArchOver platform. The Credit team invests a considerable amount of time – on average four days – to fully review the potential borrower. Should the borrower be approved by the Team, the Credit Committee will review, and make the final decision. Once the loan has funded on the ArchOver platform, we monitor monthly both the asset value and the management accounts against forecast throughout the loan term. We also perform multiple on-site visits before and throughout the loan term. This allows us to get to know the business intimately – its challenges, its strengths and its weaknesses. We can continuously assess the borrower’s position, so we can identify and handle any new risks as (or preferably before) they arise within the borrower’s business. We believe we are the only P2P lender to conduct this kind of monthly monitoring.

Angus: We employ a traditional ‘Five C’ approach: Character, Capital, Capacity, Conditions and Collateral. Understanding a business is a complex, multi-dimensional challenge and we employ both quantitative and qualitative elements when reaching judgments. We have a detailed process we follow to deliver a number of key metrics so that our Credit Committee can take an authoritative decision on which companies should make it onto the platform.

Angus, how was the idea about ArchOver born?

Angus: Through our own experiences as entrepreneurs and directors, we realised how difficult it was to raise working capital in the range of £100,000 to £5 million. We also saw that those with cash were earning next to nothing in interest and that, for those potential investors, security was imperative. Our first thoughts of how to overcome these issues became the founding principles of ArchOver, and so we set out to support UK businesses and UK investors alike in a fair and innovative way.

What makes you different to other P2P lenders?

Jerry: In short, what makes us different is our human-touch. There is always someone available for you to speak to. Whether you are a borrower or a lender, we want to listen and engage with you so we can be as helpful as possible. Providing a personal service is at the heart of what we do.

More specifically, on the borrower side, we seek to facilitate lending in a way that is business-driven, business-focused and business-friendly.

Our loans are fixed amount, meaning there is no unpredictable facility fluctuation, and they are fixed-term and fixed-rate, allowing the borrower to plan ahead. Many of our borrowers have sought an ArchOver loan to help them exit an expensive and time-consuming invoice discounting facility, because we appreciate that a loan should be there to support a business, not to sap its resources. Similarly, we do not take personal guarantees, allowing directors to keep their business separate from their personal life.

Angus: On the lender side, we prioritise security without compromising interest rates. Our Credit Analysis is one of the most thorough in the sector, and we are the only platform to monthly monitor the business and security throughout the loan term. With the exception of our Research

• Development Advance lending service, our loans are secured with an all-asset charge over a borrower’s business, and all borrower revenues flow through controlled bank accounts owned by ArchOver. To further underpin security, our lending models leverage the value of the borrowing business’ assets. Our flagship ‘Secured & Insured’ model leverages finance against the company’s Accounts Receivable, where those Accounts Receivable are insured against late or non-payment. Our ‘Secured & Assigned’ model is secured against contracted recurring revenues, where those contracts are assigned to ArchOver.

In a time when interest rates are skimming along the bottom of the graph, we know how important it is to make your money work for you. ArchOver lenders can receive between 6 – 9%p.a., and on average earn a return of 7.3% p.a.

What are the company’s mission and values?

Jerry: Put simply, ArchOver exists to help businesses access the funding they need to grow, and to help investors make a secure, worthwhile return on their money.

We are committed to treating UK businesses and investors fairly. If a business has the assets to sustain borrowing, we want to give them the chance to get up and running quickly. We also believe that investors should be able to secure favourable returns without having to take on unnecessary risk.

We believe in transparency throughout the entire process. Our borrowers are never left in the dark (which is sadly a common occurrence with the banks) and our lenders have access to information sufficient to allow them to make an informed decision on which loans they want to invest in.

Last and most certainly not least, we are helpful, focused and flexible. We are here to help you achieve your business or investment goals.

Have your values changed over the past 4 years?

Angus: No. What has changed is the way in which we do things, not our ethos. We expanded our offering to lenders and borrowers by introducing our ‘Secured & Assigned’ model in January 2017, and have also introduced our ‘Bespoke’ model.

This means we can offer our funding solutions to a greater range of UK businesses, while maintaining security for lenders. For lenders, we are looking to introduce an IFISA early this year, alongside some other services. Watch this space!

Chatbots are quickly becoming the interface of choice for many organisations. In fact, a recent survey conducted by Oracle revealed that 80% of businesses want chatbots by 2020. While the advances in Artificial Intelligence (AI) and mobile technology have created a new set of tools for brands to communicate with, the technology itself has yet to reach a mature state, and is consequently strongly vulnerable to cyberattacks. This is according to Simon Bain, the cybersecurity expert and CEO of BOHH Labs.

Current bot solutions are not entirely secure and can create open passages for cyber criminals to access the data flowing through chatbot’s interface. In essence, this gives cyber attackers direct access to an organisations’ network, applications and databases.

Bain explains: “While bot technology has improved drastically in recent years, for maximum security, chatbot communication should be encrypted and chatbots should be deployed only on encrypted channels. This can be easily set up on an organisation’s own website, but for brands that use chatbots through third-party platforms such as Facebook, the security features are decided by the third party’s own security branch, which means the organization does not have as much control over the security features on the chatbot. Until public platforms offer end-to-end encryption in their chatbots, businesses should remain cautious.

“One of the biggest advantages in using chatbots is that they are a cheaper solution to customer service. They can serve and reach customers in a way that would otherwise require a tremendous amount of time and resources. This is an area where chatbots are gaining momentum, but instead of bots replacing entire customer service teams, organisations are working with them in tandem to improve customer satisfaction. However, as chatbots collect information from users, the information that is stored and the metadata must be properly secured. When running a chatbot, organisations must consider how the information is stored, how long it’s stored for, how it’s used, and who has access to it. This is especially important for highly regulated industries, such as finance, that will deal with sensitive customer information.”

“While there are clear advantages to integrating chatbot technology as a new communication tool, if companies aren’t made aware of the potential security risks, confidential data will be accessible by any determined hacker. Additionally, attackers may be able to repurpose chatbots to harvest sensitive data from unsuspecting customers.” Bain concludes.

(Source: BOHH Labs)

New research commissioned by Oddsmonkey reveals that Brits are using side hustles to help cover the cost of living.

As the annual inflation rate doubled from 1.2% to 3.1% in the past year, the average monthly wage of £1538.97 is not enough to cover the cost of living for almost a quarter of Brits (24%).

Because of this, 25% of working employees have resorted to a side hustle to earn extra money with 36% of those having 3 or more ways of making extra cash.

The study also found that while some Brits take up side hustles to help with living costs, many take them up to fulfil their passions with over a third (34%) finding their sources of additional income more fulfilling than their full-time job, and almost four in ten (39%) of Brits admitting that they wish their side hustle could be their main job.

Brits earn nearly £3000 a year renting out a spare room or blogging for extra cash

The matched betting experts polled 2,000 Brits on their additional sources of income, to discover the side hustles Brits are taking up to become more financially secure.

The study discovered the majority of Brits are concerned with being unable to cover the cost of their bills (48%) and their rent/mortgage (28%), and therefore adopt a side hustle to earn extra cash.

68% of Brits sell their unwanted items on eBay and Facebook marketplace this side to earn an average of £165 a month, making it the most popular side hustle adopted by Brits.

Despite not being the most profitable side hustles, making crafts and baking were found to be the most enjoyable – showing that while Brits want to earn more money, they want their additional sources of income to be something they enjoy doing.

Selling beauty products through direct selling companies such as Avon was found to be the most lucrative side hustle, with the third of Brits taking this up, earning an average of £249 commission a month.  Renting out a spare bedroom and blogging were also found to be lucrative side hustles with Brits raking in an average of £241 and £231 per month respectively.

More than 1 in 3 Brits with a side hustle don’t declare their extra earnings

Those with a side hustle are earning nearly £3,000 a year on top of their yearly salary and many admitted to dodging tax.

Despite earning over the £1,000 annual allowance, 34% of those with a side hustle confessed to not declaring their extra earnings.

The research also revealed that it’s not only those in full-time employment who have side hustles, students are also taking advantage of side hustle to cover the increasing cost of living in the UK.

Earning on average £895 a month and not receiving any help from their parents (47%), 1 in 3 students have taken up a side hustle to earn extra cash and are interestingly making more money than the average Brit.

Younger Brits earn £78 more a month than the average Brits from making and selling crafts (£241), £69 more for blogging (£300), and £17 more a month for baking (£200).

Peter Watton, spokesman for Oddsmonkey comments on the research: “With the constantly increasing cost of living, we were hardly surprised that Brits are having to take up side hustles in order to earn themselves some extra cash. While it is great that Brits are using their passions to earn extra income, it is important to remember to declare any income over £1000 to ensure you don’t get in trouble with the tax man!”

(Source: Oddsmonkey)

Far from taking human jobs in future, Artificial Intelligence (AI) and Machine Learning (ML) technologies are going to free up finance professionals from spending too much time on monotonous tasks and allow them to focus on more strategic tasks of higher value to the business. Does this mean that finance roles will mostly be driven by robots? Below Tim Wakeford, VP of financials product strategy EMEA at Workday, discusses with Finance Monthly.

A recent EY study revealed that the majority (65%) of finance leaders said that having standardised and automated processes—with agility and quality built into those processes—was a significant priority when it came to investing in emerging AI and other technologies. And, following on from this, 67% of finance leaders said that improving the relationship between finance and the wider business strategy was also a key priority.

Again, this is an area where automation and AI technologies are helping free up time for finance to spend more time working with other teams within the business. This enables them to figure out where to go next as opposed to looking backwards and dealing with unproductive and time-consuming legacy finance systems.

Freeing up talent to focus on high-value tasks

Freeing people up from repetitive jobs to enable them to focus on high-value tasks is the opposite of the oft-cited “robots putting people out of work” narrative.

Indeed, automation is a huge opportunity to reduce the unnecessary burden and pressure that’s put on finance professionals, particularly around traditional tasks such as transaction processing, and audit and compliance.

The adoption of AI applications within finance enables forward-thinking executives to move info far more strategic business advisory roles. This means that they can focus less on number crunching and more on financial analytics and forecasting, strategic risk and resilience, and compliance and control. This shift to data-driven financial management delivers a much wider benefit across the business.

The Rise of the robots: AI in finance

Computer systems performing tasks that previously required human intelligence is the definition of AI, with experts viewing AI and automation as viable solutions to efficiently deal with compliance and risk challenges across different sectors.

With the rise of the ‘big data’ era comes a parallel growth in the need to analyse data for financial executives to be able to properly manage compliance and risk.

This is another reason why finance teams cannot ignore the opportunities that embracing AI technologies offers them. It allows them to process vast amounts of data faster and easier than large teams of humans can.

Individuals are then able to make better strategic decisions based on the information that AI is able to rapidly extract from what were previously time-consuming and repetitive and monotonous tasks such as transaction processing.

Jobs least likely to go to robots

Forward-thinking and highly-skilled financial executives are happily embracing AI, as they see the clear opportunity it presents to play a more valuable and strategic role within their organisation.

“The challenge for managers will be to identify where automation could transform their organisations, and then figure out where to unlock value, given the cost of replacing human labour with machines and the complexity of adapting business processes to a changed workplace.” This is how writers James Manyika, Michael Chui and Mehdi Miremadi so fittingly describe the process in their book These Are the Jobs Least Likely to Go to Robots.

“Most benefits may come not from reducing labour costs but from raising productivity through fewer errors, higher output, and improved quality, safety, and speed.”

AI and automation in finance has to be about reducing repetitive manual tasks and raising overall productivity through data-driven business strategy. The bottom line is this: any technology that can reduce manual input and the associated human errors for transaction processing and governance, risk, and control (GRC) will free up finance professionals for more strategic work.

Any organisation’s most important asset is its people. And finding out which emergent AI technologies and applications are the best for a business and its people is going to be key for the future of finance.

Giving skilled finance staff the autonomy and opportunity to move into far more strategic data interpretation roles and letting the machines take on the grunt work is a necessary shift in the finance function.

As well as automating a large part of the finance function, AI technology will also help skilled finance executives to make a far more sophisticated analysis of complex data sets and to provide genuinely valuable insight to drive the business forward.

There is very little doubt that the future of finance will be one that embraces technological innovations to improve effectiveness, increase efficiency, and enhance insight.

Large enterprises have traditionally struggled to keep up with the pace of their more agile and disruptive SME counterparts. Nowhere is this truer than the finance department. Below Karen Clarke, Regional Vice President at Anaplan, explains the useful simplicities of the zero based budgeting method and the huge possibilities of savings for any business.

It’s incredible to think that many businesses are still chained to the same arcane budgeting process that’s been used for over 100 years. A traditional budgeting process based on extrapolating the previous year’s spend fails to provide the detailed insight needed to achieve a material change in the cost base, particularly when line item expenses are already highly-aggregated.

Companies should no longer feel tied to these dated processes. New technologies are enabling innovative finance teams to overhaul how budgets are allocated and managed, through introducing zero based budgeting (ZBB) – and the resulting savings are starting to make headlines.

Take Coco Cola, which has revealed that it has broken out of the dark ages by incorporating ZBB into its processes, targeting savings of $3 billion by 2019 in the process. Or the world’s largest cereal company Kellogg Co., zeroing in on $150-180 million savings from ZBB. In 2016, the company publicly announced savings directly from ZBB, and noted that these savings will build to a run rate of $450–$500 million by 2018. Crucially, it will enable the company to invest in its existing brands, acquire new brands and fund geographic expansion.

Despite the prospect of realising savings of a similar magnitude, many organisations still shy away from ZBB due to concerns that it is expensive, time consuming to implement, and will disrupt their business. But this is no longer true. With the advent of the cloud and connected planning tools, organisations can implement ZBB seamlessly, without disruption to the business or existing processes.

In a world where every advantage counts, adopting ZBB where everything in every budget must be justified as both relevant and cost effective – will be central to future business success. Enterprises can use the methodology to level the playing field and bring that SME agility into their enterprise armoury. Incorporating ZBB in to business processes doesn’t have to be a complicated process. With so much uncertainly in the market and with Brexit continuing to cast a shadow over business confidence, the importance of driving greater cost discipline across all sectors has never been greater.

As we’ve seen, particularly in retail in recent weeks, sales are dropping and costs are continuing to increase for buyers, creating a squeeze on businesses. In light of this, ZBB can offer an opportunity for long-term sustainability. Despite some recent profit margin improvements caused by ferocious cost cutting, these opportunities are fast running out for organisations and are ultimately short-lived. Instead, companies should focus their efforts on how they can take advantage of marketplace opportunities, which are the real keys to growth.

ZBB is a significant shift in how organisations budget, but the huge opportunities for savings which it can unlock can make vast improvements to any business. The examples already being showcased in the market demonstrate that, for big businesses, the numbers involved are significant, and the opportunity to innovate in this way can be a real market differentiator, enabling the business to allocate funds where they’re really needed.

What’s required is a clear plan for how the business can switch to a ZBB model, with buy in from the top of the organisation. As Kellogg have openly stated, top-down sponsorship is crucial to making any ZBB initiative a success. The business also needs to be equipped with the right tools to enable this form of connected decision making and planning. By looking to tools born in the cloud, organisations have the opportunity to introduce ZBB quickly and without significant cost implications, capturing substantial value in the process.

As organisations start the New Year and are fast approaching the new financial year, never has there been a better time to refresh how costs are considered and find new ways of driving significant cost savings within the business. With continued uncertainty expected in the market, it’s essential that every business equip itself with the necessary tools and processes to strengthen their armour for 2018 and beyond.

Following on from last year’s top 10 must read finance books, Tamir Davies, content writer and researcher for Savoy Stewart, advises Finance Monthly on the top 10 business books to look out for, with her own blurb on each and some advice on which reader they are best suited to.

The first month of 2018 is done, and as we continue into the next few months, many Brits will have set aspiring goals and achievements to mark off their bucket lists for the remainder of the year. Whether it be a personal or professional accomplishment, the new year marks a ‘new you’, with a never-ending list of books to read, websites to browse, knowledge to be attained and situations to be resolved. Whilst it’s incredibly easy in this modern world to turn our eye to the internet for a quick fix, we have become incredibly complacent to picking up a book. There is nothing quite like opening freshly printed books, with that lingering sweet smell resembling notes of vanilla flowers and almonds. And even the manufactured smell of new books can’t be mistaken for being better than the world wide web.

If you’re looking to build your collection and to learn something new in your professional field, albeit financial and or business related, here are the 10 most inspiring must-read business books.

1. Cryptocurrency: Advanced Strategies and Techniques to Learn and Understand the World of Cryptocurrency by James C. Anderson

Cryptocurrencies have most certainly made their financial mark on business, proving to be worthy investments for the future of currency. Considering how many Brits have become self-made millionaires after holding onto the currency, it’s no surprise that those investing in cryptocurrencies are looking to know more than just the basics. Perhaps you’re asking yourself more in-depth questions such as ‘why does it have any value?’. Cryptocurrency: Advanced strategies and techniques to learn and understand the world of Cryptocurrency will answer all your questions of interest, demonstrating how this new inventive currency will fit into the modern economy. The book assesses its effect on the economy, how it will grow and shape finance, and finally whether it is sustainable.

Read this book if: You’re bored of conventional strategies to make money and looking to help change the world that little bit more.

2. When to Jump: If the Job You Have Isn't the Life You Want by Mike Lewis

Mike Lewis, the founder of When to Jump, presents his book When to Jump: If the Job You Have Isn’t the Life You Want, for anyone who feels they have reached a career crossroad. Do you follow your dreams, or do you stick it out because you need the money, the security and longevity of a job that is in front of you? Mike Lewis goes through in detail the ‘Jump Curve’, what he describes are four steps to wholeheartedly pursue the career you have always dreamt about. The book is a beautiful collection of curated stories from like-minded people who share how they took a leap into the unknown. Mike Lewis recently won the Goldman Sachs accolade for ‘100 Most Intriguing Entrepreneurs’.

Read this book if: You’re sat at your office desk, reading this post and thinking ‘what am I doing here?’.

3. Crushing It! How Great Entrepreneurs Build Their Business and Influence-and How You Can, Too by Gary Vaynerchuk

Crushing It, explores how entrepreneurs and influencers who left their career path which had been somewhat mapped out for them, and went on to build thriving and highly successful businesses. The four-time New York Times bestselling author Gary Vaynerchuk hopes in his new book to inspire similar business men and women with dreams of doing what they love, by offering a unique perspective and lessons to be taken which would help with taking their career to a new level. Gary shares stories of those who have grown wealthier, by adopting principles discussed in his book. Gary dissects every social media platform to help anyone of any career field or title how to maximise and optimise their brand presence.

Read this if: You’re a lively individual, looking for something new to dabble in. Perhaps you’re not doing it for financial gains.

4. The Four: The Hidden DNA of Amazon, Apple, Facebook and Google by Scott Galloway

We all log into Facebook, purchase from Amazon, use software from Apple and search for what our heart desires from Google. But have you ever considered their ultimate power as giants of the 21^st century? Scott Galloway, in his new book The Four, asks fundamental questions, such as ‘how did the Four infiltrate our lives so completely that they’re almost impossible to avoid (or boycott). Scott Galloway is one of the world’s most celebrated and prolific business professors, and has deconstructed the methods and strategies used by these ‘Four’ giants, and shows you how you can apply the same measures and principles of their tenacity to your own business ventures.

Read this if: You love or loathe these giants of the world, but wish to replicate their deepest, darkest methods of success.

5. Business for Bohemians: Live Well, Make Money by Tom Hodgkinson

Tom Hogkinson, a renowned journalist has combined his wisdom for cash flow forecasts, tax returns, and anything business related, in his book Business for Bohemians, with practical advice and engaging anecdotes to create a refreshing outlook on how to create a greater level of freedom in our working careers. No matter your business dreams, this book will equip you with the skills to turn your talent into a profitable and enjoyable business. The book will navigate how to become a wizard of excel, a social media maven and the art of negotiating with clients, companies and friends, when business is just business.

Read this if: You fear losing your mogul personality when building your business.

Click to reveal the NEXT 5 must read business books of 2018!

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2018 is the year you make more money. It’s one of your New Year’s resolutions – but you’ve got no idea where to start. You’ve done the research, read as much as you can, and are suffering from a serious case of paralysis by analysis. With so many options to choose from, it’s understandable that doing nothing at all seems like the easiest option. It’s also the worst. Below Jitan Solanki, Senior Trader at Learn to Trade, sheds light on your options for the year ahead.

So, where exactly should you invest your money this year? Read on to find out more about the pros and cons of different investments and make 2018 the year your money works harder.

ISAs

The beauty of cash ISAs is that you do not pay tax on the interest you earn. However, today, basic rate taxpayers can earn £1,000 in savings interest a year, and higher taxpayers can earn £500 – so ISAs are no longer quite as attractive.

Indeed, a standard ISA only offers one – two% interest per year. Even a stocks and shares ISA that can offer 13-14% per year typically incurs a 6p to every £1 charge. This eats away at margins and, when you factor in inflation – at its highest level for half a decade – not only is money not growing, it’s actually decreasing in value.

Cryptocurrency

Unless you’ve been living under a rock, you will have seen the hype surrounding cryptocurrency, the decentralised virtual form of money that can be used to make purchases or be exchanged for other traditional and digital currencies. VeChain (VEN) is one of the hottest new cryptocurrencies around, having struck major deals with Renault, PwC and Fanghuwang, one of the fastest growing online lending platforms in China. Another that you may have heard of, Ripple, is also one to watch as it announced partnerships with American Express and Santander. When considering an investment in cryptocurrencies, the focus now has to be on identifying which coins offer the best technology and are most likely to be used by everyday people in the future – that will be where the value is.

Now that the hype around bitcoin has somewhat subsided, there are good opportunities for those with longer-term ambitions. However, cryptocurrencies are a highly speculative investment without government regulation so investors are warned to tread carefully. It remains to be seen how the crypto craze will play out, but whatever happens, ensure you research thoroughly before making any investments.

Stocks and Bonds

If you’re happy to tie up your money for a number of years, some of your investment options include: bonds, investing money into managed funds, and directly trading stocks, shares and commodities. A fixed rate bond with NS&I might be worth considering, if you’re willing to put away savings for three years, as it guarantees a 2.2% a year growth bond with no risk but is unfortunately taxable. Premium bonds, while not guaranteed, do offer savers the chance to win tax-free prizes between £25 and £1m.

In terms of stock, investment returns and risks for both types – common and preferred – vary depending on factors such as the economy, political scene and the company’s performance. In the short-term, this form of investment is volatile and choosing stocks requires substantial research. There are also a lot of hidden fees and a lack of transparency involved when buying and selling stocks. This said, we’d call out the Hang Seng 50 index as one market that remains a strong core focus for us. This has been on a radar for over a year now when new Shanghai Stock Exchange to Hong Kong Stock Exchange link launched. We continue to see outflows from mainland China into Hong Kong and continue to trade the trend.

Forex Trading

As it stands, by far the most lucrative choice – and one that manages the risk – is forex trading (the trading of currencies), turning over $5.3 trillion annually. Return on investment is typically four% per month on average, which equates to roughly a 60% increase on starting balance after one year.

The British Pound, which has benefitted greatly from open talks between UK and European ministers surrounding Brexit, and the Japanese Yen – weak due to changes in the Bank of Japan’s personnel and upcoming elections – are, currently, a highly effective pairing.

Though it’s hard to argue with the returns above, there is always risk involved. However, while trading does demand a disciplined mindset, as long as you stick to some simple rules you can largely mitigate risk and start to see consistent returns.

The best thing you can do this year is spend some time getting familiar with each of your investment options, understand the pros and cons of forex trading, ISAs, stocks and bonds, and new kid on the block, cryptocurrency, and make 2018 the year you see a return on your investment.

The top 15 books to read for business, investment, and life, with descriptions and tips on when to read.

More than a quarter (27%) of small financial business owners in the UK have had a health scare since starting their business according to research from Ultimate Finance, which explores the pressure British SMEs are under in the UK.

79% of financial business owners and managers worry their current work / life balance is having a negative impact on their health.

Two fifths (40%) have found it hard to eat healthily since starting a business, while a further 21% struggle to go to the gym and maintain their health regime.

81% worry about the future and their health due to their work habits.

Steve Noble, ‎Chief Operating Officer at Ultimate Finance commented: “While it is common knowledge that running your own business is stressful, we were shocked it has triggered health scares in so many entrepreneurs in the banking and finance sector. It can be isolating spearheading a business, particularly in uncertain economic and political times and clearly the strain is taking its toll in terms of personal health and wellbeing. Many SMEs operating in the financial sector are simply not finding the time to eat well or exercise.

“When you consider that over five million businesses are SMEs, we could be heading towards a bit of a crisis. We need to start talking seriously about the importance of prioritising physical health, not just for the sake of entrepreneurs’ personal health but to ensure the long-term success of their business.”

Business psychologist Robert Stewart added: “Many SME owners focus on the needs of the business and their employees but fail to address their own personal needs. At the start of a new year, I would urge the UK’s financial SME community to take this research seriously and establish their own process for looking after themselves. This may be in the form of a personal wellbeing advocate who can ask them difficult questions about their work / life balance or simply by taking a more honest look at the way they work and creating boundaries and new habits of eating well and exercising.”

The independent survey, carried out by 3Gem on behalf of SME funding partner Ultimate Finance, questioned hundreds of managing directors, across a range of sectors, about the impact that running their business was having on their lives.

Ultimate Finance conducted the research as part of a bigger SME wellbeing campaign, with the aim of highlighting the need for small business owners to consider their own health, as well as their employees. To help SMEs who need support with their wellbeing, the leading UK funding ally has created an information hub with insight and guidance on a range of business wellbeing topics.

(Source: Ultimate Finance)

The UK’s Banking and Financial sector has ended the year on a positive note, with the growth of new companies up 18.56% to 5,775 and failures down by 37.89% to 59 compared to Q3, according to figures released in the quarterly Creditsafe Watchdog Report. The report tracks economic developments across the Banking and Financial sector and 11 other sectors (Farming & Agriculture, Construction, Hospitality, IT, Manufacturing, Professional Services, Retail, Sports & Entertainment, Transport, Utilities and Wholesale).

In addition, sales were up marginally by 1.24% from Q3, and the number of active companies rose by 6.86% over the same period. Total employment fell by 4.39 in Q4.

The research shows a significant improvement in the financial health of the sector, with the volume of bad debt owed to the sector decreasing by 89.31% in Q4, and down by 81.35% since the same period a year ago. The average amount of debt owed to companies in the sector in Q4 came in at £28,686, which was an 88.35% drop on the previous quarter. There was a mixed picture for supplier bad debt, the volume owed by the sector, which saw a big decrease of 60.71% against Q3, but was up by 51.16% compared to Q4 2016.

Rachel Mainwaring, Operations Director at Creditsafe, commented: “Creditsafe's Watchdog Report shows a much-improved outlook for the UK’s Banking and Financial sector moving into 2018. Last quarter’s levels of bad debt were a serious cause for concern, so it’s extremely positive to see a huge drop in these figures in the final quarter of the year.

“It’s also exciting to see such an increase in the growth of new companies, pointing to an encouraging year ahead for the sector. It will be interesting to see how these new companies fare, and whether these positive figures continue throughout the next few quarters.”

(Source: Creditsafe)