Working capital is the money used for paying everyday business expenses or used to expand the business or take on a larger contract. It is essential for any growing business. We often discuss the needs of working capital with business owners and find it a largely misunderstood area. We hope to give some understanding here …
7 creative options to increase your working capital Read More »
If you are considering selling your business, then please be sure you don’t get caught out by one of the following myths. You may only ever sell one business and the area of business sales may be one that you and/or people you speak to are not fully versed in. It is useful to remind …
We meet businesses too often who have too much focus on generating new business. Business should absolutely be seeking to acquire new business and customers if they wish to expand but not if it is at the cost of neglecting their existing customer base. Existing or repeat customers are those who have purchased a product …
Why you should focus on existing customers rather than new ones Read More »
For those in business most will have some appreciation of the importance of Cashflow. Whatever industry you are in you will hopefully benefit from some, if not all, the tips we have outlined below to help your business to improve its cashflow 1. Have a cashflow & review it monthly It may sound silly, but …
In our experience most businesses consider the analysis or knowledge of a break-even point within their business something that a management consultant might discuss with them but not something they need to understand themselves. We feel this exercise is key in understanding the health of your business and how to manage the expansion (or retraction) …
Your business break-even point – do you know it? Read More »
Cutting costs may sound to most like the simplest and most obvious strategy to improve the financial health of your business, but it can be one of the most effective. It can be very easy in business, equally as it can be in our personal life, where we sign up to a service or particular …
You will have heard the old analogy of your business being what someone is willing to pay, which can be true for some elements of the business but there are obviously more fundamental ways that a business can be valued. For the larger percentage of business owners this will be the first time you will …