Small Business Archives

Business Structure – What’s the Best One for Your Requirements?

The question of business structure does not come up too often. It’s usually when starting a new business or deciding to change an existing one, that the question of which is the best business structure comes up. Here we’ll consider factors to consider when choosing or changing a business structure and provide a brief overview of the legal business structures available.

Tips for Conducting Effective Meetings

A global survey conducted by Microsoft found that employees spend an average of 5.6 hours each week (12.4% of their time at work) in meetings. Around 70% of survey respondents felt meetings weren’t productive. In Australia, 82% of people surveyed said that meetings were a waste of time and money because they lacked structure and defined objectives. Nevertheless, meetings still have an important role to play in many workplaces.

How to Collect Late Payments and Avoid Bad Debt

Two of the most frustrating things business owners face are late payments and bad (unpaid) debts. After all you have done in professionally delivering your product or service, you deserve to get paid and get paid on time. But that’s not the reality for most small businesses.

Turbocharging Growth With Mid Life Cycles

Director of Mid Life Cycles, Michael Catchpole, has followed two passions in his life: motorcycles and media. Around the same time he earned a journalism cadetship, he got his motorcycle license. As he built a career in media and communications, he also raced and maintained motorcycles and cars. And eight years ago, Michael decided to take his passion for motorcycles to another level. Discover the early win that kick started their growth spurt, and see why this retail business continues to grow.

People Looking At Tablet Discussing A Small Business Budget

Business Budget: 4 Steps for Creating One

A business budget is an essential document for analysing your business expenses and making decisions. Creating a business budget will also help you manage your cash flow and keep on track when unexpected expenses arise. To make this happen, let’s look at the steps you can take to create your business budget.

A Paint Shop Owner Who Offers Invoice Payment Terms To SME Customers

Invoice Payment Terms: Research Reveals Lost Opportunities for SMEs

Research commissioned by Moula revealed that business-to-business buyers and sellers are being held back by a lack of cash flow. Almost half of businesses looking to grow by purchasing stock, buying equipment or materials, or paying for services are not able to expand due to a lack of funds. While nearly 60% of merchants selling to other businesses offer payment terms, 63% of these businesses report that their cash flow is adversely affected by late payments.

What Is a Credit Score and How Does It Affect You and Your Business?

If you are seeking any type of credit — whether a credit card, home loan, personal loan or business loan — your credit score will come into play. So you might be asking, ‘What is a credit score?’ It’s simply a number that is calculated based on the information in your credit file at a point in time. It helps credit providers determine how creditworthy you are and how able you will be to pay back any new debt they give you.

Owner Of A Cafe Who Is Bootstrapping His Business.

10 Tips for Bootstrapping Your Business

There was a time when boots had straps to pull them on and ‘pulling oneself up by your bootstraps’ meant getting ahead on your own with little or no assistance. Today, the term ‘bootstrapping’ means starting with very little capital and putting all revenues back into the company to help it grow. If you don’t have access to money or investors, bootstrapping might be the only viable way to get started. Here are some tips for bootstrapping a business.

10 Ways to Cut Small Business Costs

For many small businesses, the focus is on growing sales. When a business is growing, it’s possible for expenses to grow too quickly and get out of hand. When this happens, it can lead to cash flow problems and even threaten the existence of a business. To help you cut back on expenses and improve your cash flow, here are some simple ways to cut small business costs.

Woman At Computer Writing A Business Plan.

How to Write a Business Plan When Applying for a Business Loan

If you’re applying for a business loan, one of the first requests from traditional lenders will be to see your business plan. A business plan provides the information that traditional lenders need to make an informed decision about whether to approve a business loan and determine the amount. If you haven’t written a business plan before, it might seem like an immense challenge. A good place to start is with an outline covering all the information needed in the business plan. Here’s a brief overview of what to include in a business plan when seeking a small business loan.

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