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...
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...
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...
Every business needs a financial plan. Your financial plan gives you a way to monitor and review your cash flow, make adjustments to your spending, and anticipate any upcoming financial issues. It can also make you more prepared to request funding or find investors so you can bring more money into your business. Although many...
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...
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...
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...
