Budget is king when it comes to any building project – no more so than when the project in question happens to be a new veterinary practice. The physical and regulatory complication of these buildings means informed decisions must be made at every stage if the money isn’t to run out before the doors open…

Kitting out a clinic can be fraught with difficulties. Too much choice is one problem, while financing is another. However, common sense can be drawn on in acquiring what is needed at the lowest possible cost, being tax efficient and considering used equipment…

Pet owners traditionally sought veterinary services on a pay-per-visit basis, often delaying essential care due to financial concerns. However, the subscription model has the potential to revolutionise pet health care by offering a more accessible, comprehensive, and cost-effective approach…

Tax changes that came into force earlier this year could have a big impact on many businesses, including veterinary practices. And those impacts will be even greater for those who have not noted the warnings from HMRC…

Should employers consider giving staff cost of living bonuses? If so, should they be a one-off or a pay rise? And what about offering hardship loans? Beyond these three options are questions over risks of discrimination and poor optics if employees feel embarrassed through genuine efforts to help staff, as Toyah Marshall, principal employment law advisor and solicitor at WorkNest, discusses…

Many people are searching for places to make savings as the cost of living crisis bites deeper. For pet owners, one monthly expense under scrutiny could well be their pet insurance premiums…

New equipment, additional consulting rooms and general refitting are all hallmarks of a practice looking to progress. But such advancements come at a cost, which leads to a natural question: what is the best way of financing these investments?

Finding a buying group is an important decision for anyone setting up on their own practice or thinking about doing so. In this article, Ross Kelly shares his views and explains how collective purchasing power can benefit your business…

The reputation of the insurance industry is one of odds stacked against the insured through contract terms. It’s hardly surprising, then, that some might be tempted to cut corners when seeking cover…

The veterinary sector continues to face numerous challenges, including vet shortages, price inflation and falling practitioner well-being, to name but a few. Against this backdrop, Ernie Ward asks how vets can continue to work effectively, and balance the necessary demands of making a profit and serving a purpose…

With minimum wage rates not long increased, Adam Bernstein reminds employers they have an obligation to pay their staff the right amount – or risk damaging and costly repercussions.

Finance and regulation is the fourth part in our series exploring six core dynamics shaping the veterinary profession today and in the future.

Capital equipment, by its very nature, is expensive and few have the spare cash to pay for it upfront. Even if cash were on hand, it may not make sense to use it to pay for large pieces of equipment when working capital is central to survival…

We know the process of getting credit as individuals, but not everyone appreciates that the same applies to the business world, too. If a practice wants the best terms, it needs to keep on the right side of the agencies and maintain a good credit score…

Liza Minelli couldn’t have summed it up better when she sang that money makes the world go round in the 1972 film Cabaret. It’s true, despite what we all want to believe. In a commercial context, this means thinking about how a practice funds its setup or expansion, how it acquires equipment and how it funds its day-to-day expenses...

It is always vital to prepare and track realistic cash flow forecasts – especially in the current climate. Concrete cash protection procedures are also key for your practice to thrive, rather than just survive…

It has long been said that the veterinary profession is recession proof, but the question now is: will it prove to be pandemic proof too?

Coronavirus has changed the world – and it has also changed what clients expect from their veterinary practice. Change is often a scary thing, but with a planned and pragmatic approach, your practice can survive and even thrive in a post-COVID world...

Bounce Back Loans (BBL) could be a relatively low-risk financial lifeline for practices hit by the coronavirus pandemic. With no fixed interest and no repayments for the first year, a BBL could make all the difference for some businesses, but think fast as they won't be about for long...

Figures published by HMRC have shown vets are missing out on millions of pounds in research and development (R&D) tax credits. Cheryl Teoh – senior R&D technical consultant at innovation funding consultancy Leyton UK – looks at the scheme, what can be claimed for and why vets aren’t claiming for what they are owed.