Category: Maturing Business
- Proving Your Business Viability Through Four Essential Financial ReportsProving your ongoing viability is crucial in scaling a successful business to the next level. Whether applying for government subsidies, taking out a business loan or seeking investor support, you need robust financial evidence with the right financial reports to demonstrate your company’s stability and growth potential. Why Financial Reports Matter You need to present…
- The first cause of poor cashflow – your cash lockupWhen it comes to business, profit and cash flow are not one and the same. While profit reflects the revenue generated from your work or sales, cashflow is the actual money flowing in and out of your bank account. One of the primary culprits of poor cashflow is what we call “cash lockup.” Cash lockup…
- Mastering Working Capital for Business SuccessIn the realm of business, cash flow serves as the lifeblood, but working capital acts as the health checkup vital to keep your business thriving. Regularly assessing your working capital becomes even more crucial during times of economic uncertainty. This article delves into understanding working capital, its significance, and strategies for maintaining business success. What…
- Retirement PlanningAre you considering retiring from your business or selling your business? Glenn explains the importance of a longer term succession plan being essential to maximise your return in this short video.
- What do you want from your business?Do you remember why you went into business? In this short video, Glenn shares how Sharp Accounting can help you get clear and focused back on your business and why this is so important.
- Cashflow freedom – the seven causes of poor cashflowCash is the life blood of any business. In fact, even profitable businesses can and do fail because of poor cashflow. What’s important is that you understand your key drivers of cashflow. Improving cashflow is often all about changing your business’s processes, for example, how you order stock and pay for it, how you bill…
- Collect your debtors fasterDid you know that you still have to pay tax on your debtors, even if you haven’t yet collected them? This is because you pay tax on your sales figures, whether you’ve collected the cash or not. So, how do you collect your debtors faster? Don’t procrastinate on your debtors. Establish clear payment terms and…
- Shortening your cash conversion cycle to free up cashThe impact of COVID-19 has shown us that even profitable businesses can go broke if they run out of cash. Understanding and managing your cash conversion cycle frees up your cash and helps you build a cash war chest to get you through tougher times. Your cash conversion cycle is the number of days your…
- What is Your Business Really Worth? And How Can You Increase The Value of Your Business?Many Australian business owners have engaged in little to no exit planning. This is true even for owners with most of their assets tied up in the business. Unfortunately, this is a recipe for disaster when it comes time for you to leave the company – whether that’s due to retirement, an accident or illness,…
- Business Process Improvement: Ramp Up Accuracy & Efficiency, Through Better ProcessesOver time, even the best business processes become inefficient and outdated. Inflexible legacy systems hamper the introduction of technological innovations. In addition, shifts in consumer preferences, changes in market forces, new regulatory policies, and long-established processes affect efficiency, competitiveness, and even your bottom line. Business Process Improvement is the antidote to this. What is Business…
- Goal Target SettingWhat goals and targets have you set for the year ahead? Ewen explains the importance of setting these each year in this short video to help you get started.
- Why Should I Work With a Tax Accountant Near MeWith the advent of the internet and cloud-based solutions, many in the financial services and accounting industries suggest that the distance between them and the client is irrelevant. While this is true to some degree, you may ask yourself, what are the benefits of working with a tax accountant near me? Benefits of Working With…