We would all enjoy increased cash flow in our business, right? However, this is confusing to many business owners who often have no idea of where to start. The first step to improving cash flow is to make sure you are earning the right margins on the product or service that you provide. Examine the […]
Why budgets in business are a must have!
November 7, 2011 by 2 Comments
Many business owners fail to set a budget and don’t consider this to be important for them. They either think they are not big enough to need one or they have one ‘in their head’. So, why is it important for every business to set a budget? A budget is the success plan for a […]
How do I set a budget?
October 26, 2011 by 1 Comment
How businesses set and follow budgets is obviously very important. Setting a budget can actually be easier than you think. You need to look at the past three years within your business and ask yourself: how did the business do in terms of revenue and expenditure? Look at trends within your business. What regular payments […]
Do you know what your financial position is going to be like in three months’ time?
October 4, 2011 by 1 Comment
Most business owners do not know what their financial position will be next month let alone three, six or twelve months in advance. What impact would knowing where your business will be financially in say, three months’ time have on your business? Here are five steps to get you on the road to foretelling the […]
Why is there a difference between my Profit and Loss Statement and my cash flow?
September 27, 2011 by Leave a Comment
The most confusing area for small business owners can be understanding what is actually happening in their accounts. Product based industry The biggest challenge that product based industries face is the actual product they sell – stock. The key element to understanding the difference between your profit and your cash flow lies in a number […]
