Post Type: Article

As the holiday season approaches or if you’re gearing up for a well-deserved break, maintaining control over your business’s holiday cashflow is crucial for a healthy work-life balance. Discover essential tips to keep your finances in check during the festive season. Plan Ahead for Overheads and Salaries Understand that even when you’re away, overheads and…

Holiday breaks are a chance to recharge for the year ahead. We look forward to warmer weather and finally setting up an out-of-office email for the break. However, for business owners, this time can be stressful without careful cashflow planning to implement holiday cashflow strategies. Even if you do continue to operate through the holiday…

For the last couple of months, our focus has been on the power of regular accountability meetings and monthly financial reporting and how businesses can use them to achieve better financial outcomes. We wanted to share the details of how we helped a client improve their performance using these strategies. One of our bakery clients,…

Reducing variable costs is a powerful way to elevate your business profitability. These costs fluctuate with production levels, so effectively managing them can directly impact your bottom line. Whether you’re aiming to improve cash flow or increase profit margins, focusing on lowering variable expenses is key to sustaining growth, particularly if your gross profit margin…

Productivity is often associated with strong economies, thriving businesses, and the efficiency of skilled workers. If more businesses were productive, we’d likely see fewer failures, higher employment, and better incomes for both owners and employees. According to the Xero Small Business Insights 2023: Industry and Regional Trends report, wholesale trade was the most productive industry…

Over time, even the best business processes become inefficient and outdated.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…

Small changes can significantly improve your business performance. Even slight adjustments to your processes or systems can majorly impact your profit margins. For example, a 1% increase in your gross margin on $500,000 of sales adds an extra $5,000 to your bottom line without increasing sales. The best part? Boosting your margins is one of…

In our recent articles, we’ve discussed essential financial reports, such as income statements, balance sheets, and cashflow statements, which provide a snapshot of your business’s financial health at a given point in time. While these reports are crucial for understanding past performance, cashflow forecasting takes it a step further by offering a forward-looking view, helping…

Understanding your financial reports—knowing your numbers—is critical to business success. It empowers you to make better business decisions, measure their impact, take corrective actions where necessary, and ultimately achieve better results. By gaining insights into your financial reports, you can: Monitor Business Growth Determine if your business is growing or shrinking. Regular monitoring allows you…

Regularly reviewing your financial reports is crucial for any business owner aiming for growth and success. If you’re not doing this—whether due to a busy schedule or because the reports seem confusing—it’s time to start. Here are six compelling reasons you should monitor your financials reports regularly. Which Financial Reports Should You Review? Before diving…

Proving 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…

Starting and growing a small business can be incredibly rewarding but challenging. Preparing for common challenges and knowing how to tackle them can make your journey smoother and more successful. Five Proactive Ways to Overcome Common Business Challenges Every small business faces unique obstacles, but certain challenges are universally common. Here’s how to address five…