R&D: don’t forget to protect yourself

We were so surprised by the low figure for spend on research and development (R&D) and intellectual property (IP)  (1.1% and 0.3% of turnover respectively) in the recent MyCake Benchmark Bulletin (no4), that we had a chat with ACID (Anti-Copying in Design) to find out whether MyCake users spend on these areas was lower than ACID members. As Read the full article…

Turnover & Indirect Costs

This post is a complement to the analysis undertaken for Artquest in the March – May 2010 newsletters. For more details on our partnership with Artquest click here. Remember – a short column is a good thing in this graph … you don’t want to spend too much of your income on your overheads! The Read the full article…

Creatives spend more on bank charges than on R&D!

MyCake benchmark data of the creative industries shows that firms are spending more on indirect cost items such as pensions, utility bills and bank charges than on R&D. At just 1.1% of turnover, R&D gets half the budget spent on telephone charges, and creatives are spending 1.6% of turnover on bank charges ~ that’s 1.4 times the budget given to R&D!

In the fourth MyCake Benchmark Bulletin we look at the importance of R&D for creative businesses, how to fund it and how to make the best use of your budget.

Turnover & Production Costs

This post is a complement to the analysis undertaken for Artquest in the March – May 2010 newsletters. For more details on our partnership with Artquest click here. One of the things we’ve noticed as we analyse the 2008-9 data is that there is a dramatic difference between the profitability of the product based creative Read the full article…

Correlating hourly rates and turnover

This post is a complement to the analysis undertaken for Artquest in the March – May 2010 newsletters. For more details on our partnership with Artquest click here. The graph below shows the 2007-8 MyCake benchmark data. That large blue & yellow columns shows that the folks with the best income are also the ones Read the full article…

How much time can you sell?

This post is aimed at those businesses who essentially sell their time (and the time of others) and looks at what assumptions you can make about how much time you can realistically sell per annum. Q1 – What would you like to earn per annum? Let’s start with the simple version i.e. a freelancer or Read the full article…

A benchmark just for jewellers (2008-9 data)

As we have quite a cluster of jewellers using MyCake we thought we’d do a brief benchmark just for this sector. Here are some of the highlights: All the jewellers are sole traders with two thirds making all their own work (the other third subcontract some of their production either to other jewellers or to Read the full article…