View How can I avoid small business failure?

How can I avoid small business failure?

Management of cashflows, especially receipts from customers, is a major headache for SMEs and one of the biggest causes of small business failure. You can help yourself to manage cashflow by adopting effective invoicing strategies and getting financial help to avoid a cash crisis. Here are four expert tips on how to keep cash coming…

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View What is the end goal of a business plan?

What is the end goal of a business plan?

How can you formulate an idea, create a business and then run it if you haven’t got any specific plans to work from? Creating a business plan is no easy task. It can be made simpler and more effective by working through it with an advisor. Ultimately getting your thoughts down on paper will prove…

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View In-House vs Outsourced – What’s the best option for my SME?

In-House vs Outsourced – What’s the best option for my SME?

Accounting is essential for every business, and there are many opinions on the right ways to find the services needed to stay afloat. If you’re just starting up or can see that your accounting systems need maintaining, what is the right approach? You can recruit an in-house accountant or consider hiring an outsourced specialist. The…

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View The Importance of Business Forecasting

The Importance of Business Forecasting

Business forecasting is an integral part of your business plan. As part of this, financial forecasting may be required for a number of reasons: If you need funding to start up or grow, then all lenders will assess your forecasts. Seeking out a potential business partner will be made all the easier with a set…

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View Five tips for effective succession planning

Five tips for effective succession planning

Most people want to grow a business and sell it or retire at some point in time as well as take some capital value out in the process. Succession planning is therefore something that should always be on the agenda. Indeed, the older you get, proper succession planning becomes more and more necessary. Once you…

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View Why Profitable Businesses Go Bust

Why Profitable Businesses Go Bust

At the risk of stating the obvious, cash is the lifeblood of any business.  A business that has access to sufficient cash can survive making a loss, but a profitable business that runs out of cash when it needs to pay its’ creditors will have to cease trading.  Too many managers remain focused on generating…

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View Common Cash Pitfalls for Business Owners to Avoid

Common Cash Pitfalls for Business Owners to Avoid

Cashflow matters at all stages of business ownership. Whether you are trying to get a new business venture off the ground, or you’ve been in business for years, it is common to run into cash problems that can drain your company account. However, these problems can be avoided if you are practical with your financial…

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View Why you really need a business mentor

Why you really need a business mentor

Industry analysts, consultants, employees, and good networking contacts can share their expert knowledge with you regarding particular situations and needs you may encounter. However, only a business mentor can truly share wisdom with you on an ongoing basis, and in a way that can have a direct, positive impact on the growth of your business…

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