As mentioned last week, cashflow is the ‘lifeblood’ of every business and poor credit control will greatly affect your cash flow and your ability to pay your debts on time. By setting up strict credit controls and managing your debtors your chances of payment will improve if things go wrong for a customer.Last week we covered some of the credit controls you can put in place… this week is we will look at managing your...

Now more than ever businesses need to take control of their debtors.  Cashflow is the ‘lifeblood’ of every business and poor credit control will greatly affect your cash flow and your ability to pay your debts on time.  By setting up strict credit controls and managing your debtors your chances of payment will improve if things go wrong for a customer. Set up Credit Controls.  These might include: Have a Credit Control...

I came across an article in last week’s BRW magazine that I thought you might be interested in. It covers the 10 key ways to bulletproof your business. To read it click here …. How to Bulletproof you Business    Enjoy the...

Here’s a tip with a bit of a difference….. You may not be aware that the Federal Government announced an incentive for business investment just prior to Christmas. ….. The allowance will be in the form of an additional tax deduction equal to 10 per cent of the cost of an eligible asset. The allowance will be applicable to most new tangible depreciating assets – which includes most items of plant and equipment –...

While our economy may not officially be in recession, many business owners and their customers are certainly beginning to be affected by the negative media – and many are taking action by tightening budgets and cutting back on their purchases.However, the slowdown in business presents quite a unique opportunity for small business owners, in addition to increased challenges. As more businesses are turning to business coaching as the...

How can you make it through an international financial crisis without a bail-out all your own? I thought I’d share with you here some interesting tips I read recently… 1 Conduct a financial overhaul: clear those credit card bills, reduce debts or maybe put any spare savings into clear loans or mortgages. 2 Review your portfolio: take stock of how long you plan to invest. Ensure it is adequately diverse and that it boasts...

I want to share with you all  some ways to help improve your profits, but first what happens when profit declines? Every business owner reacts in a different way. Some look to cut expenses while others look to get more leads and customers by investing in advertising and other strategies. While controlling expenses is important whether profit is up or down, cost cutting is typically a short-term fix – you can only cut so much and...