Building an early warning system allows businesses to monitor the right indicators, identify risks, and act before they escalate. Understanding your business drivers Your business drivers are the operational and market factors that directly impact your revenue. While every business is unique, here are common examples of drivers to monitor: A reduction in new customers… Continue reading Building resilience with an early warning system
Building resilience with an early warning system
Building an early warning system allows businesses to monitor the right indicators, identify risks, and act before they escalate. Understanding your business drivers Your business drivers are the operational and market factors that directly impact your revenue. While every business is unique, here are common examples of drivers to monitor: A reduction in new customers… Continue reading Building resilience with an early warning system
Accessing funding from angel investors
Angel investors are usually successful entrepreneurs, retired business owners or corporate executives in search of investment opportunities with promising businesses. They’re looking for an investment they can get a return on their money, but often also contribute to an industry, region, town or business community. What angel investors will expect They usually seek a combination… Continue reading Accessing funding from angel investors
Cost optimization
Improving your bottom line isn’t just about increasing your revenue but also comes down to reducing outgoings where you can. Reducing direct costs can dramatically increase your profit on each sale while eliminating unnecessary business overhead. Here are some things to consider for optimizing operational costs. Lower the cost of purchases Reducing what you pay… Continue reading Cost optimization
Crowdfunding explained
Crowdfunding is when you raise capital from the ‘crowd’, or the general population. It’s usually facilitated by online platforms such as www.kickstarter.com and www.indiegogo.com (ask your industry networks or search online for what may match what you’re doing). It allows businesses the freedom to raise capital from a range of people: investors, customers, colleagues, peers,… Continue reading Crowdfunding explained
Why outsourced accounting helps nonprofits stay compliant
Running a nonprofit requires a delicate balance between advancing your mission and managing day-to-day operations. One of the most time-consuming and detail-oriented tasks is bookkeeping. For many small to mid-sized organizations, internal bookkeeping can quickly become overwhelming, especially when staff wear multiple hats. Outsourcing bookkeeping can be a practical solution. It allows nonprofits to maintain… Continue reading Why outsourced accounting helps nonprofits stay compliant
Avoiding credit card fraud
Safeguarding your business against fraud is important, particularly if your business accepts credit cards. While credit card fraud may always be a concern, it is something you can protect yourself against to reduce your risk of losses. Preventing the cause of fraud If you can and it’s appropriate, avoid the chance of any credit card… Continue reading Avoiding credit card fraud
Your guide to equipment finance
Investing in new fixed assets such as machinery, vehicles, technical equipment, or property can be a critical step in growing your business. You’ll generally need to choose between using cash reserves or seeking finance. While using cash avoids interest costs, financing allows you to spread the cost over time, keeping your cash available for other… Continue reading Your guide to equipment finance
Alternatives to a business loan
Many businesses need to raise extra capital or funding at some stage in their growth. The first task is figuring out how much you need, and what it’s for. For example, you could be aiming to increase capacity by investing in new equipment or expanding your facilities. Or you might be planning to buy a… Continue reading Alternatives to a business loan
Funding change in your business
Running a small business comes with constant challenges, from changing customer demand and rising costs to market shifts and economic uncertainty. Sometimes, these pressures mean that parts of your business may no longer contribute to long-term growth. In these situations, restructuring can be a practical way to protect your business, refocus resources, and build resilience… Continue reading Funding change in your business