Let’s face it: it’s currently a buyers’ market... and despite your initial reaction, believe it or not, this is actually great news for your business. Why? Because to all of your suppliers, YOU are the customer – and you can start using the current market conditions as an opportunity to flex your buying power and start reducing your business expenses right away.
Sadly, even profitable businesses can go broke if they do not effectively manage their cashflow during the recession – and it's happening across the country right now. Not surprisingly then, cashflow is one of the biggest challenges currently facing business owners, with some 92% reporting that they frequently experience stress due to cashflow concerns. If you're like many of the business owners we've talked with recently, you may have had to reduce the scope of your operations, source additional funding, take a pay cut, or even make long-standing staff redundant.
Preparation is the key to efficient and effective financial planning for the 2012-2013 year ahead.
Effective tax planning needs to not only make financial sense and be consistent with overall business objectives; it must also not run foul of either specific or general anti-avoidance provisions of the tax legislation.
Heed the Warning Signs. If you are involved in a business that is showing signs of trouble, act quickly....
Many SME owners crave a better work/life balance and dream of one day growing their business to the point where they can either scale back their hours, or have someone take over the reins so they can retire completely. For many, this freer lifestyle doesn’t always come to fruition, but for those that seek out professional help and set their mind to it, the pipedream can more easily become a reality.
Have you put dollar after dollar into a new business? Fought day and night to keep a struggling business alive? If so, you would know how hard it is to decide when enough is enough.
How to put together a one page business plan in 9 easy steps.
Why succession planning should be top on your list....
You don’t need to create the world to develop a successful business. Whilst business innovation is about new ideas, products, services, marketing and distribution methods -it’s also about the culture of an organisation. We can’t all be Bill Gates or Steve Jobs, but we can come up with some fresh and innovative ideas that will give our business a boost and keep the customers interested.
Every business needs a system. A business without a system is like a car without wheels. Whether you are a one man band, employ 50 people or are somewhere in between, every business needs a system and that means Marketing and Sales, Operations, Finance and Human Resources.
A business without a system is like a car without wheels. Whether you are a one man band, employ 50 people or are somewhere in between, every business needs a system and that means Marketing and Sales, Operations, Finance and Human Resources.
7 Things you may be lacking & 7 ways to fix them
No matter what business you’re in or how big you are, there is one measure that is universal across all businesses everywhere. That is?... results. It is no use pointing the finger at external factors or the fact that ‘this is how we have always done it.’ The cold hard fact of the matter is, that if you’re not getting results … you’re just not getting RESULTS.
If you are involved in a business that is showing signs of trouble, act quickly......
Steps to take to get your business project off the ground.
Business success takes planning, commitment, discipline and organisation. If you are exploring new ways to develop, expand, change or improve your business, it is important to carefully organise your ideas so they don’t negatively affect your profits.
If you live in Australia or New Zealand, you’ll no doubt have witnessed the devastating impact and unpredictability of Mother Nature – with earthquakes, droughts, fire, flood and cyclones all occurring in the past year alone. While these natural disasters ravage communities, the impact on local businesses can be equally devastating. But it doesn’t always need to be that way. Why is it that one business can recover from a disaster, whereas another similar business may be forced to close its doors?
Family businesses involve unique dynamics that can be both advantageous and challenging. Being conscious of these different elements and tendencies, can provide insight into why family firms behave differently than non-family firms.
Check list for planning for your business website.
A new year, a fresh start. Last year had its ups and downs, but your business pulled through and now you’re pumped and ready to face the unknown challenges of the year ahead. You’re determined to make next year better, and you sit down to write a list of the things you will do differently so that 2010 will be a stellar year.
We take a look at the steps to improve your chances in raising finance with potential lenders for your business and the importance of the right professional advise.
If profit building is on your agenda for this year, check out these ideas for reducing overheads and increasing income.
Experts predict a big increase in businesses changing hands over the next few years. It could be a good opportunity to sell but how much is your business worth?
In an increasingly competitive marketplace, it’s all too easy for many businesses to become carbon copies of one another. Many businesses lack originality in their selling propositions, continually offering more of the same to uninspired customers.
For many entrepreneurs, their business is their most valuable asset. Yet few ensure their company - and its value - is sustained if they’re out of commission. Even if you’re unavailable for a relatively short period of time, can your business keep going without you?