With a quick hello and goodbye to our monthly wages – the constant rise in the cost of living, I am baffled how the National Association of Pension Fund (NAPF) are shocked that we are not saving as much as we should, if anything, for our pensions. I am not quite sure why they are shocked. Most of our clients are trying to work hard to operate their business: profit margins are thin, marketing efforts have to increase, all other costs are rising (some well above the rate of inflation) and one thing is certain, there is very little room for increase prices to increase margins. After all this there is not much left.
If the big utilities and the other big suppliers are increasing annual bills by sometimes over 18% when they are making on average profits of over £1.bn (we have loads of detailed statistics) I question whether inflation is ever going to slow down. With the amount of expenses the average individual in Britain has to manage we will soon each need our own personal accountant. In the meantime though for all business owners out there – at least we can reduce your accountancy costs.