Photo By Richard Are you an entrepreneur wondering how to fund your next big idea? Or maybe you’re an investor curious about tapping into the world of innovative startups? Crowdfunding could be the solution you’re looking for. Crowdfunding isn’t just about raising money—it’s about building a community, validating your ideas, and creating exciting opportunities. But how does it work, and how can you make it work for you? Stick around… Read more
Setting financial goals for your business may be one of your most important responsibilities as a leader and business owner. Your financial goals serve as far more than wishful projections, they form the backbone of your road map for success, internal and external. Financial goals are something that every single business should possess regardless of its market, model or size. Let’s explore how you can set and track financial goals… Read more
Running a small business is a constant juggle, and one of the more frustrating tasks is managing your receivables. How often have you found yourself waiting on overdue invoices, wondering if you’ll have enough cash flow to cover next month’s expenses? If this sounds familiar, you’re not alone. Many small business owners struggle with keeping their accounts receivable in check, which can ultimately impact their business’s health and sustainability. In… Read more
Ever wondered how companies price custom projects accurately? The secret can be found in a method called job order costing. For small business owners and entrepreneurs, understanding this process could be the key to increasing your profitability and ensuring that every job is priced just right. Welcome to a world where every material, man-hour, and overhead cost is meticulously tracked to unveil the true cost of doing business. Let’s explore… Read more
If you’re a small business owner or a startup founder, you’ve probably heard about Cost of Goods Sold (COGS). But what does it really mean, and why is it crucial for your business’s success? Understanding COGS isn’t just about accounting—it’s about making smart decisions for profitability, pricing, and more. This blog walks you through everything you need to know about COGS, from defining the term to showing you how to… Read more
Understanding financial statements might sound daunting, but it’s crucial for small business owners to stay on top of their game. Each financial report offers unique insights into different aspects of your company’s health. This listicle will break down the essentials, helping you make informed decisions and ultimately steer your business toward success. 1. Balance sheet What is it? The balance sheet provides a snapshot of your company’s financial position at… Read more
If your company is experiencing rapid growth, you might find yourself navigating a good news/bad news situation: while your sales figures climb, managing cash flow becomes increasingly complex, pushing you to seek additional financing to meet the rising demand. Consider this scenario: A well-known retailer expresses interest in your products, presenting an exciting opportunity that could significantly elevate your business. However, they have a requirement: they want a substantial discount… Read more
Data is more accessible than ever. But how can small businesses leverage it effectively to drive growth? Let’s explore data-driven strategies that can help you make informed decisions, improve customer experiences, and ultimately, boost your bottom line. Why data-driven strategies matter Data-driven strategies are essential for businesses seeking to remain competitive and achieve sustainable growth. These strategies enable businesses to make informed decisions based on real-time insights rather than relying… Read more
Nobody likes to think about fraud, especially in their businesses. We all hope that it will never happen. Once a business owner came to us because their cash sales kept declining while credit card sales grew. They were puzzled about this trend. Upon further investigation, it was found that an employee was embezzling cash and covering their tracks. It was heartbreaking for the business owner that their employee broke their… Read more
Ever felt like the term “current ratio” sounds like something straight out of a high school mathematics class that you’d rather forget? You’re not alone. But here’s the thing – understanding the current ratio can be a game-changer for managing your business’s financial health. Here’s a simple breakdown. Business Kpi What is the Current Ratio? In the simplest terms, the current ratio measures your business’s ability to pay off its… Read more
Photo By Pixabay Starting a new business is exciting, but it also comes with its fair share of responsibilities. One of the most critical responsibilities is maintaining accurate records of your business transactions. From saving receipts to processing employee payroll, every money-related detail should be documented. It’s not just about keeping things tidy; it’s about understanding the financial health of your business and meeting all your tax obligations. Don’t underestimate… Read more
Photo By Tima Miroshnichenko Starting a business is a wild ride with its fair share of ups and downs. One hurdle many new entrepreneurs encounter is the difference between the profits they expected and the hard cash available at the financial year-end. This guide aims to alleviate these concerns by shedding light on where your missing revenue might be hiding. Possible causes of missing profits There may be several reasons… Read more
Photo By Luke Chesser As a small business owner, you’re likely already wearing many hats. But the hat of a financial analyst might seem a little oversized, particularly if your background isn’t in finance or accounting. However, understanding financial ratios can be a game-changer for your business, helping you assess your business’s financial health and make informed decisions. Financial ratios: what are they? Think of financial ratios as a thermometer… Read more
Photo By Ketut Subiyanto Even if you have outsourced your financial functions, as a small business owner, it is crucial to have a solid understanding of key financial concepts to work with your advisor and ‘speak their language”. This article outlines several important concepts that every small business owner should be familiar with. Basics of income and expenses As a small business owner, it’s important for you to understand how… Read more
Photo By Shane Xero Beautiful Business Fund applications are now open! Xero recently announced the launch of the Xero Beautiful Business Fund. Itʼs their new initiative, backing small businesses for the future. What does this mean? Xero is offering more than NZ$750,000 in funding to Xero small business customers across Australia, Canada (excluding Quebec), New Zealand, Singapore, South Africa, the UK and the US. Applications for the fund are open… Read more