Tag: business growth
- Understanding Your Numbers to Improve Your ResultsUnderstanding 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…
- Six Powerful Reasons to Monitor Your Financial ReportsRegularly 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…
- Conducting Feasibility Studies for Self-Storage: Key Insights on Supply and DemandIn his latest self-storage industry video, Ewen dives into the crucial aspects of feasibility studies, focusing on supply and demand. Evaluating the competition is essential if you’ve found a promising site with the right land price and rental rates. Learn how to analyse both established and new competitors, assess their occupancy rates, and understand their…
- 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…
- Overcoming Five Common Business Challenges: Strategies for SuccessStarting 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…
- Creating a Winning Business Plan: A Comprehensive GuideYour business plan is the roadmap that guides your company’s journey. It’s crucial for outlining your direction, setting goals, and securing investment. So, what should you include in your comprehensive business plan, and what key factors should you consider? Key Elements of a Business Plan A well-structured business plan typically includes: Clear Direction: Define your…
- Key Ways to Access Business FundingStarting a new business or expanding an existing one often requires substantial funding. Securing the right finance at each stage of your business journey is crucial for success. But where can you find the necessary funds? Five Ways to Access the Right Funding Here are five key funding options to consider: 1: Bank Loans and…
- Sharpen Your Numbers – FAQ: What is the Instant Asset Write-off for the 2024 year?In this video, Ewen confirms the instant asset write-off has reverted to $1,000 per asset. However, there’s draft legislation in progress to raise this to $20,000, with recent proposals suggesting an increase to $30,000. Stay tuned for updates, and we’ll keep you informed as things develop. If you have any questions for Glenn or Ewen…
- Budget Update: A Small Business PerspectiveGlenn shares his thoughts about the recently disappointing news for small businesses in the recent federal budget release. The proposed increase in the instant asset write-off to $30,000 has been stalled, likely settling at $20,000. With rising prices, this isn’t ideal. Additionally, the $300 Power rebate and trimmed tax cuts offer little excitement. Watch the…
- Navigating Economic Challenges: Strategies to Strengthen Cashflow for Small BusinessesIn times of economic uncertainty, small businesses face heightened vulnerability. Despite sluggish sales, overhead costs and payroll obligations persist, necessitating proactive measures to ensure financial resilience and sustained growth will help strengthen cashflow in your business. Plan Ahead and Take Proactive Measures: Anticipate upcoming expenses and assess potential revenue shortfalls. Initiate discussions with suppliers or…
- The sixth cause of poor cashflow: tackling high overheadsIn the journey of managing a business, one critical aspect often overlooked is overheads, which can significantly impact cashflow. While business owners tend to be vigilant about expenses, the growth of a company can sometimes lead to increased layers of management and operational inefficiencies. Regular assessment of overheads is crucial for financial health. Here’s a…
- Self Storage Industry Update – 2024Ewen shares an update on the self-storage industry’s trends over the past 12 months, including lower occupancy rates and increased revenue, as well as his predictions for the next year in this brief video. If you’re looking to prepare your self-storage business for the upcoming year, don’t hesitate to reach out – Ewen has extensive…