Most businesses need to raise extra capital or funding at some stage in their growth. Many small businesses often need additional capital to fund the increase in necessary equipment, staff and resources required for business expansion and growth. If you don’t want to borrow from a bank or other lender, a popular alternative is to… Read More
Successful small business owners are those who are continually seeking ways to increase their net profit. For many small businesses, their initial first thought is to increase revenue. However, it’s often small incremental changes across a number of business areas that creates exponential improvements to the bottom line. There are four processes you can implement,… Read More
There are a number of things you can do to reduce the impact of the Corona virus on your business. Short-term there are subsidies and actions to minimize the damage while long-term you may need to rethink how your business operates. A business usually gets some advance notice that all is not well: sales start… Read More
For some businesses it’s too late for survival. If your sales have fallen off a cliff and customers have cancelled, postponed or are no longer there, then there is no easy solution. All you can do is to try and delay ground zero (you run out of cash and have to close) for as long… Read More
It’s always beneficial to seek new customers. When new competitors enter the market and try to steal market share or old customers no longer need your business, it’s important to draw upon a fresh customer base. Here are five strategies to win clients. 1. Look for New Customers in Your Existing Market Chances are, there… Read More
Dealing with a sudden cash flow crisis, even if you’re working hard to avoid shortfalls, is hugely distracting. A formerly reliable customer might take much longer to pay than anticipated or a large consignment might fail to show up, leaving you out of pocket. If you’re starting a business, it could simply be taking longer… Read More
If you’re failing to meet your cash commitments each month and eating away into your capital reserves, then it’s time to make some serious decisions in your business. A business can survive for a short time without low sales or profits, but not without a positive cash balance. It’s cash which pays the bills and… Read More
The aim of all small business owners should be to have more money coming in than going out. From shortening your cash cycles to managing debt, there are several methods for getting on top of your cash flow. And once you’ve got it firmly in hand, you’ll experience greater freedom and opportunities to grow your… Read More
For business start-ups, the most important thing to remember when it comes to accounting is that you need to be able to see at a glance what your cash position is. There are several different ways a small business can go about its accounting tasks, but the common factor in all of them is documenting… Read More
The first thing you need to identify is why you’re operating at a loss. If you’re still in the start-up phase and you know it will take time to break-even then it’s probably ok. But if you’ve been operating for a time, sit down and try and determine why. Is it: The loss of a… Read More