As a business, one of the key objectives we all face is the need for growth and maintenance. Most of the time these are ongoing processes that come from the daily challenges of running a small business. However, if you want to grow big, or fix a big problem, it might be time to undertake a project. A project can be anything from a website, to a new piece of equipment, even something like fixing the plumbing.
Business awareness is one of the key skills regularly flagged up by big employers as being a skill that is often desired but never quite found. In small business, business awareness is a vital skill to ensure the growth and survival of your business. Here we examine 6 tips on how to increase your business awareness.
Cash Management is one of the most important parts of managing a business. It’s hard not to be emotional when looking at your balance. Sometimes, we may even get the urge to panic, and to make an irrational decision without much clear thought put in. In this article we’ll show you some ways to stay on top of your emotions while managing your bank balance, to help you make informed decisions in cash management.
Many business owners fixate on the notion of making a profit. But by doing so, they can make it harder for themselves. If business owners fail to think strategically, they might fall victim to cash flow problems in certain months, hoping that coming months will make up for it. Below are three reasons why steady cash flow is just as important to focus on as profit.
Debt is a vital part of how most SMEs operate. It's important therefore to pick the right kind of business finance to match your needs. Picking the wrong type of debt for your business could mean thousands of dollars in extra interest or years of extra repayments on a loan. Inside are three factors to help you pick the right kind of debt for your business.
At one point in time most small businesses will need an injection of cash in the form of a loan. Although tempting, SME owners should be careful however not to mix their personal and business finance at this point. It may seem as if it is the only way to move forward, but it can have detrimental effects in the long run. In this article there are three reasons to think twice before mixing your personal and business finance.