Managing cash flow is a vital part of running a successful business. Some business owners think managing cash flow simply means keeping track of how much money enters and leaves their business, but there’s actually more that goes into it. Cash flow forecasting, for example, is an incredibly valuable tool that helps you anticipate cash flow issues, plan for days when your cash flow is limited, and show the bank… Read more
Perhaps you have noticed that it is not always the smartest or most capable person that gets a promotion or has management roles seemingly thrust at them. Studies have shown that a person with better communication skills can typically achieve a higher level of success than someone who simply has the highest qualifications on paper. This is good news for anyone looking to develop the skills it takes to stand… Read more
While major companies create powerful green initiatives, many small businesses use the excuse of “no resources” to do nothing. However, everyone plays an important role in protecting the environment, and small businesses have a unique opportunity to involve their community of employees and customers. The most effective environmental conservation projects need not cost much more than a collective effort. If you own or work in a small business, here are… Read more
When you’re reviewing your investments, it’s important to remember that income and returns come from two main sources, Capital Gains and Interim Income. Capital gain (or loss) This is the difference in the overall value of your investment between when you purchased it and now (or the date that you sold it.) You can work it out as: ((Current or sale price per unit – purchase price) * number of… Read more
Help grow your business through collaboration, expansion, improved marketing and some of the following quick tips. 1. Improve your customer service Businesses with good customer service retain consumers and attract new business through word-of-mouth. Even if you think you’re already providing good service, make it a priority to provide refresher training to frontline staff at least once a year. Alternatively, hold regular meetings to discuss any issues as they arise.… Read more
It pays to be organised this financial year It’s nearly time to wrap up yet another financial year and it really does pay to get in early if you are considering equipment or car purchases. Due to COVID-19 disruptions it is taking longer to process all elements relating to setting up the loan. For equipment and car finance banks are slower to process new deals and require more information than… Read more