Financial Management

Benefits of an Internal Business Audit

With limited resources, it can be a daunting challenge to consider an internal audit process in a small business, though this is not an area in which skimping is recommended. They say when it rains it pours, and an internal audit can help blow the storm clouds clear away from your business! An internal audit […]

Signs you are ready to expand your business

Are you finally pushing profit margins into the green? Great! But don’t jump on the expansion wagon just yet… Take a breather, reassess and make sure that your business ticks the boxes (or at least most of them) that signal you are ready for growth. Start with the most important asset you have- your team. […]

Benefits of an Internal Audit

The word “audit” is scary. Cue sweaty palms, racing minds, and a general feeling of unease and panic. However, when we are talking about an internal audit, the ball is in your court and the benefits greatly outweigh those pesky panicked feelings. Internal audits aim to assess: 1. Functionality 2. Risk 3. Solutions Instead of […]

Smart Budgeting Tips for Small Business

Since sales are never a constant over a year it is vital that small business owners really take a fine tooth comb to their finances and budget for both the highs and lows. Here are some of our tips for smart budgeting: Always overestimate your expenses. If you go over, you will have room to […]

Help Your Community, Help Your Business

It’s been said that small business is part of the heartbeat of the larger community. No one knows better than a small business owner, the importance of community acceptance and support. Understanding the best ways to reciprocate that same support and acceptance is crucial to a business owner. Small businesses filter money directly back into […]

How to Avoid Financial Pitfalls

Creativity, determination and perseverance are some of the top qualities successful business owners possess. One they often lack is the ability to manage the financial side of the business. More often than not, failure due to financial hardship can be traced back to the very beginning of the process. A startup costs money – lots […]

The Threat of Debt

It’s true – raising capital to launch your business may be one of the toughest battles you will face. But let’s not forget the uphill climb that still remains – the threat of debt. While it is unlikely you will be able to avoid it (and always remember that like cholesterol there is good debt […]

The Numbers Every Business Owner Needs To Know

When starting a new business venture the ability to predict the outcome is needed to be able to remove a significant amount of stress that burdens small business owners. Most experts would argue that there are 7 significant numbers that should be on your radar: 1. Working Capital/Cash Flow. This is the lifeblood of the […]

Keeping Track Of Your Business

While bringing in new clients, developing marketing strategies and managing accounts are all sound and necessary practices for a small business, they do not, in themselves, ensure the overall health of your business. “Constantly monitor cash flow and incoming sales leads.” Monitoring progress throughout your business is like attaching a pace-maker. It aims to provide […]

Give your Business a Financial Facelift

“Boiled down to the essentials, financial (or fiscal) planning is about two things – accumulating wealth and protecting it”. Don’t feel like these two simple things are happening? Then it is probably time to consider a financial facelift. Like its surgical equivalent, a financial facelift entails a quick nip and tuck procedure. The end result […]