Why you shouldn’t do your own accounting

Introduction Accounting is a crucial part of business, but it’s not something every business owner loves doing. It can be tedious and confusing, especially if you’re just getting started. Many business owners make the mistake of assuming that accounting is easy or that they’ll save money by doing their own accounting instead of hiring an…

5 ways to reduce business expenses

Introduction Reducing operating costs is a key concern for large and small businesses alike. Reviewing your expenses on a regular basis can help you adjust as needed, keep prices low for customers, increase cash flow and profits for your company. Here are five ways to reduce your operating expenses: Reduce your office space for flexible…

5 Simple Methods to Manage Your Cashflow

Introduction Cash is the lifeblood of a business, and without it business cannot survive. Generally, it takes three to six months for large and small businesses to get paid from its customers. In the meantime, business owners need money to pay your suppliers and employees. Business owners can increase cashflow level by agreeing for longer…

Business Planning

Once you have decided to start your own business, whether as a sole trader, partnership, or limited company, the first thing you will need to do is create a business plan.   Business Planning – Overview Your business plan will essentially be your business bible – it will act as your instruction manual, advice guide and…