Alchemy blog
Honest opinion and illuminating comment
At Alchemy, we believe in clarity and honesty, and the blog is where we put that into practice. We’ll keep you updated on the latest developments in tax law and government legislation, unpicking what each change really means for you and your business.
The distributed creative agency: how 2020 freed us from the office and presented new opportunities
Even with creative agency staff working from home during 2020, campaigns got launched and websites got built. What opportunities are there in 2021?
Budgets shouldn’t constrain you and budget management shouldn’t be a battle
Are your colleagues in the habit of bidding for budget they don’t need ‘to be on the safe side’? And do you hear people grumbling that they’ve been held back by the lack of available budget? As 2021 budgets firm up in many creative businesses, here’s advice on how to make the process work.
Proactive reporting puts creative business leaders in control with stakeholders
One of the biggest challenges of growth is that the bigger your creative business gets, the more people you need to keep happy. Stakeholders need to feel you’re on top of things and reassured that the numbers stack up. Good leaders don’t react to queries – they present reports that answer questions before they’re asked.
Add to the value of your business with subscription services
If you can make subscription services part of your firm’s offer you can build additional value into your agency or practice, making it irresistible to potential investors and buyers.
Which comes first for creative agencies – budget or vision?
As creative businesses begin putting together their plans for 2021, we look at how those in leadership positions can balance financial realities with establishing an inspiring vision and goals.
Why creative agency leaders need to think like accountants
From pricing strategies to KPIs, applying systems and processes to creative work will make your agency more scalable, profitable and efficient.
Retaining creative talent while keeping your staffing bill under control
You owe it to yourself and to your creative agency to stay on top of costs – but how do you square that with finding and keeping the best people?
Top challenges facing marketing agencies after lockdown
Every industry is facing challenges after lockdown - and beyond. The pandemic has affected businesses dramatically and we’ve all felt the repercussions of it. But for marketing agencies and freelancers, what has this meant for them? Many companies have cut marketing...
The complexities of valuing a business laid bare
People often come to me and ask what their business would be worth if they sold it. The truth is, particularly when we’re in the middle of a pandemic-fuelled recession, there is no simple answer to this. Accountancy textbooks teach you (well, taught me) that the...
What can you claim on business expenses as a musician?
As a musician, you might not be aware of the items you can claim on business expenses. Luckily, if you choose to use me as your accountant, you won’t need to remember any of the below (but I’m always here to help in the meantime). Within the music industry, there’s a...
Starting up your own record label
At Alchemy Accountancy, we work within a lot of creative industries - including music. From freelance musicians to bands to record labels, in today’s internet-heavy world, it’s easier than ever to start creating great music. But how exactly do you start your own...
Why marketing budgets are always first to go in a crisis
It’s inevitable that in business, some sort of crisis may happen. This could be personal, for example, illness or bereavement, or it could be global - a recession, for instance. Currently, it’s the small matter of a pandemic that’s causing us grief (not that we need...
Project accounting for architects – a different way of working
Architectural practices operate on a different basis to many other types of business and need a different approach to accounting as a result.
Should you have a niche as a marketing agency?
It’s nothing new to say that the marketing world is saturated with full-service agencies. Whether you’re a one-person team or a huge, award winning agency, with offices all over the globe, finding a marketing agency that does it all, from SEO to PPC, design to...
What can you do if you become ill as a freelancer?
It’s more than likely that you’ll become ill at some point - whether that’s a cold, period pains, mental health concerns, or something else, we’re not immune to illness. Particularly as a freelancer, you may work longer hours or take on more work than you really...
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Find out more about how Alchemy can help you and your business, from tax planning to bookkeeping, via cloud accounting.