2022 brought the highest inflation in 40 years. A recession is looming, and just about everyone’s more strapped for cash than usual. If you’ve been a pro at managing your cash flow, you’re unlikely to be in a bind even…
You’re labouring day in and day out. You’re getting customers. You’re selling. Maybe you’re even growing. But how do you know if your business is healthy? More money may be coming in, but that doesn’t automatically make you better able…
Hiring an accounting professional is 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, you as a business owner should work…
When you’re reviewing your investments, it’s important to remember that income and returns come from two main sources: capital gains and interim income.
If you want your business to grow, at some point you’ll have to think about scaling it. Scaling your business isn’t exactly the same as growing it, though they are often used interchangeably. Growth refers to adding resources and increasing…
Sales and profit are two very different things. As a business owner, you can find yourself without the cash to pay bills, despite making sales you knew were profitable. You may also be startled to discover that strong cash flows…
International researchers who have studied many small businesses have found that these eight characteristics consistently play a part in the success of small companies: Owners leading by example Simple business structure Information sharing among employees Carefully chosen staff Staff commitment…
If you’re looking to grow your business, you might consider expanding your service offerings. Adding additional services can increase your profitability, diversify your income, and expand your market. But there are important things to consider before adding to your income…
Most small businesses experience cash-flow problems from time to time and urgently need working capital. Many business owners immediately think of bank loans when they’re short of money. But there are other resources you can tap into before you ask…
If you ask 100 business owners what they like least about running a business, chances are good that bookkeeping will rank high on the list. It’s an annoying and frustrating chore that takes up a lot of time and is…
