In order to be aware of how well/bad your business is doing, as a business owner you need to be able to understand your financial reports and what they represent. It doesn’t do to just keep trading and hope for the best. One of my former clients was a family run business. The wife handled the office administration while the husband ran the operations. She could never understand why their business always struggling financially. She knew that there was something…
This is an old post from the old blog site. I felt it important enough to repost here as I will be disabling the old one.
Many small businesses fail because of poor cash flow. Cash flow is the process between your incoming and outgoing cash. For small businesses and start-ups it’s a constant juggling act to ensure that you have enough money coming in to meet your obligations. When outgoing cash is more than the incoming, this is where many businesses start to crumble.
Planning your cash flow is integral to running a business. It allows you to plan how much cash you require in order to operate and grow as well as highlighting times where you may need to tighten the belt a little. Continue reading Cash Flow and the small business
As much as this post seems like self-promotion, it’s not. In more than one occasion, on taking on a new account, I’ve been confronted with books left in disarray by the previous bookkeeper. So I thought I’d help clarify the things that you should look for so that you get it right the first time.
Continue reading How to find a good bookkeeper