An obvious way for any company to expand is to take a look at other businesses and consider how well they could complement what you have in place at the moment. As we mentioned in a Read more
Monthly Archives: August 2015
Procedures and processes: managing petty cash
Most companies will incur the occasional expense for a small item, often paid for using cash rather than issuing a cheque or using the business credit card. Such items may include stationery, milk for the office, or small travel expenditure. These items should be recorded accurately in Read more
Six strategies to help your business grow: Diversification
Many company owners fall into the trap of thinking that growth simply means attracting more business, but the truth is very few can achieve this without expanding on what they offer.
Next up in this series, we look at diversification and Read more
Understanding direct and indirect costs
Since direct and indirect costs affect the price you charge for a product, an understanding of the difference between the two can be pivotal to maximising your cash flow. To determine the final cost of a product or service, you must Read more
Six strategies to help your business grow: Promotion and advertising
As a business owner, it won’t come as a newsflash that spreading the word about your company is fundamental to growth, but how carefully do you select your avenues here? The next instalment in our six-part series looks into the ways Read more
Six strategies to help your business grow: Forming partnerships
There are few SME owners who don’t harbour ambitions of taking the next step and becoming one of the big boys in their sector, but how should they go about turning that aspiration into a reality? In this set of six articles, we look at tried and tested ways that businesses have successfully managed to bridge this gap. We start with a strategy that’s always changing in pace with the digital world, but will never cease to be crucial Read more
Funding for growth: Alternative finance sources
It isn’t uncommon for businesses to feel they may struggle to Read more
What is your exit plan for your business?
It may seem a strange notion, but planning your exit strategy should really form part of your business plan. Let’s look at some of the options and their Read more
How employee turnover can impact company performance
There are a number of reasons why a high level of employee turnover is bad news for a company. A high turnover rate of workers generally means that the work environment isn’t suitable for the type of employee or work, or the recruitment process is failing. There are a number of costs associated with losing and replacing Read more
Why management accounting is necessary for your company’s success
Management accounting is used by a company to provide timely and relevant information to key stakeholders in a business. The data provided assists managers and other relevant bodies, to make decisions based on fact and to develop Read more