Even though it’s the most critical part of any business, setting a budget can be a challenge if you’re a small business owner. Here are 5 common budgeting mistakes many small business owners make, and tips on how to avoid them. 1.
Breaking away from a salaried, stable job to become an entrepreneur can seem like one of the scariest career moves possible. With so many factors to think about such as turning a profit, hiring staff and making the business sustainable,
Sales forecasting is an essential element of budgeting, meaning you need to get it right if you want your business to succeed.
When you aren't sure what you're doing, bookkeeping can seem like such a chore. Make sure you are doing it right by adopting these five habits that will make your life easier when it comes to keeping the books in
When you're a startup it's relatively easy to manage your payroll, but as your small business grows and you gain more employees, payroll can become a real drain on your time. If you're struggling to keep on top of your
Does your company employ 20 or more people? From 1st July 2018 onwards, you will have been subject to Single Touch Payroll legislation. And, if you're a small business which employs just a handful of people, you will be subject to
As an entrepreneur, developing an effective business strategy is vital to secure funding, launch your business and target consumers. Unfortunately, a few mistakes can derail your entire approach. Here are five mistakes commonly made in business strategy. Style over strategy Can you
Virtual Chief Financial Officers (or CFOs) may sound like something from a distant future, but they are an invaluable resource designed to help businesses deal with finances efficiently and accurately. Ultimately, virtual CFOs are a way to outsource some of the
As a small business owner, it is crucial to stay up to date with your industry. In today’s fast-moving world, it’s easy to fall behind. Increasing your productivity will set you up for success by saving you time and money.
Owners of small to medium businesses will be well aware of the importance of good accounting, and the need to file prompt tax returns. However, one area that often gets overlooked is the need for financial forecasting. Forecasts are just