Every business can benefit from dedicated financial management expertise, but very few small businesses have the means to hire someone full time—particularly in the lean early years Unfortunately, it’s those first few years when a company is just starting up that establishing good habits with managing financial resources is so important, and, over time can...
Category: <span>Growth</span>
3 Ways to Motivate Staff
The question of motivating employees is often on a business owner’s mind. It can be difficult to find ways to genuinely motivate employees at work, and often the old standards—performance-based bonuses, increased rewards and commissions—only work in the short-term, if they work at all. So how can you authentically motivate workers? 1. Share Positive feedback...
6 Essential Accounting Terms for Small Businesses
Hiring an accountant is widely considered best practice for small business owners. But delegating financial analysis and reporting doesn’t mean completely checking out of the process each month or quarter. On the contrary, it’s recommended that business owners work closely with their accountants throughout the year to better understand their financial position and make smart...
3 Tips to Prepare for the End of the Financial Year
Preparing your End of Financial Year (EOFY) information often feels stressful—there are receipts to sort out and reports to review, and you need to make sure you have all the necessary information about your income and expenses. It can be overwhelming, and it can make the EOFY feel daunting. The end of the financial year...
5 Ways to Recover Faster After a Financial Setback
You started your business with plans of earning a living and being successful, but an unfortunate fact of business life is that companies suffer financial hardships. Whether those hardships are pandemic-related or linked to other urgent situations, the effect is still the same. Your finances are negatively affected and it’s up to you to lead...
Signs You’re Underpricing Your Services
When it comes to the overall success of your business, one of the most important decisions you’ll face is how to price for the work you do. Charge too much and you could scare away potential customers. Charge too little and you could run yourself out of business. Figuring out how much to charge is...
Smart money tips for business owners
Small business owners know how important it is to save money. It’s evitable that you’ll need to tap into your savings for an unexpected expense, emergency and it certainly comes in handy during slower times. Saving money is definitely important, but there are also things small business owners can – and should – spend their money on today....
Business lessons learned during COVID-19
If you’re like many small business owners you’re probably astounded by how the world has changed in a very short time. While we can all hope that the pandemic is a once-in-a-lifetime scenario, the truth is there is a lot in life and in business that is uncertain, and there is a great deal we...
Financial Planning Tips for Your Small Business:
Has your business survived the economic scars of coronavirus? If so, consider yourself lucky. If your business made it through some of our country’s toughest of days, your mantra should be “I am a money magnet.” Kudos to you! Remain consistent and plan well for your future financial health. Many small businesses received some financial...
Planning and Budgeting for an Uncertain 2021
We are into the last quarter of an unprecedented 2020, it’s the time when CFOs begin preparing financial planning for the next year. The ongoing year with all its devastating economic effects seems ages away before we can call it off. Coronavirus caused economic recession globally, significantly affecting small and medium enterprises. We all learned...