The importance of delegating
Almost every business owner has too much to do and too little time.By delegating effectively, you can take some of the weight off your shoulders, and at the same time empower your employees to use their initiative, to make decisions, to be pro-active, and to stay motivated. Although there may be an initial learning curve, […]
The Importance of Cash Flow Forecasts
An estimated 80% of businesses fail because they have not managed their cash flow properly.Profitable businesses are often among these statistics, simply because owners focus too much on profit and not enough on cash flow. Once a business runs out of cash and is unable to obtain new finance, it is a fast, downward spiral […]
10 FINANCIAL TIPS FOR SMALL BUSINESSES
In the current economic climate effective management of your business’s finances is more important than ever. The following tips will assist you in managing the finances of your business effectively: Keep a record of your transactions Be sure to always keep an accurate record of your transactions. Whether it’s for an annual tax payment or […]
5 TOPICS EVERY BUSINESS OWNER SHOULD DISCUSS WITH AN ACCOUNTANT
Here are five key business issues that should be part of that dialogue. 1.Company growth: If you are planning any major changes to your business, it could affect your valuation-and your tax liability. Inform your accountant of any liabilities or changes in status including: Expanding into new locations; Adding or making changes in staffing; Merging […]
TEN TIPS FOR SMALL BUSINESS OWNERS DURING TOUGH FINANCIAL TIMES
When the economy is slow, small business owners struggle to survive, many for the first time. Financial problems consume valuable time and business resources, yet must be dealt with proactively. Use the resources your banker provides; he has the expertise and cares about your business and its financial well-being. Once you have read these tips […]