There are some key ratios every business should know to understand the viability and health of your business.
The best way to fatten your bank balance as a small-business owner is to increase your profit margins. Some of the steps that can help you improve your bottom line may seem scary — but they shouldn’t be.
“But it’s my accountants we’re talking about – they need to give me the numbers. Why would I need them to talk digital business strategy with me?” – you may ask.
Until as recent as two years ago, I can recall how much effort it took to convince a business owner that he or she needed an accountant. It was and to a large extent, still is an absolute grudge purchase.
We all have some relationship to money, and it is usually instilled upon us from childhood. There was always more than enough or we never had any money. There was always a budget in our house or we spent money when there was any available.
Most business owners have a lack of financial understanding in their businesses and so leave their financial future to chance.
Some business owners have a fear of numbers. Some are overwhelmed. Most feel intimidated or embarrassed to admit that they don’t know what they’re looking for when they review financial documents.
With the festive season around the corner, spirits are lifting and we are all looking forward to a well-deserved break with friends and family. For most small business owners however, the festive season is usually associated with some serious cash flow issues. Follow these 6 easy steps and you might just start the new year with a positive bank balance.
In most small businesses it is really important to obtain some industry benchmarks and know what the rest of the market thinks about the future. Our friends over at Hubspot, recently posted some really interesting research, that we would like to share with you. Difficulty 1) 59% of small business owners say it’s harder to[…]