With an ageing population and increasing life expectancy there is growing demand for care homes.
As a result, care home owners have a great opportunity for business growth. However, alongside the increase in demand has been a significant increase in legislation related to patient care, safety standards and employee health. So whilst the market is clearly growing, so too are the demands being placed on the day-to-day management of a care home business.
At David Allen we understand the challenges faced in balancing high quality care provided by hard working employees with the demands of regulation, costly equipment and effective business management to ensure profitability.
We can provide support to you and your care home business in the following areas:
- assisting with business planning to ensure your business has the most effective structure, for example a sole trader or limited company
- producing timely and accurate management information to allow effective management of the business
- assisting with bookkeeping and selecting appropriate accounting software to maintain your accounting records
- preparing your annual accounts and discussing these with you to ensure you understand the results and identify areas for improvement
- tax planning to ensure you are claiming allowances available and take advantage of tax planning opportunities to minimise your tax liabilities
- sourcing funding for the purchase of premises, improvements to the property or equipment
- reviewing your contracts of employment to ensure you are compliant in this area
- operating your payroll scheme for you
To find out how we can help you and your care home business, allowing you to focus on caring for your residents, give us a call.