You’ve got a fantastic business idea and you can’t wait to get going with it and make it a success. But what type of business should you be? It’s not as exciting as sorting out your branding, or planning your marketing strategy, it’s definitely worth spending some time thinking about what type of business you’re building.
Blogs about Tips
Do you ever look at your business and wish that you could tell which areas were most profitable and which ones probably need a bit or work? Well with tracking categories in Xero you can do just that! Knowing exactly which areas of your business income is coming from, and just as importantly where you’re spending money, enables you to make proactive business decisions.
Did you know that there’s a special day just for us micro business owners? Celebrating and supporting the community, #MicroBusinessMatters Day is the only day dedicated to businesses with 0-9 employees. Whether you’re a freelancer, sole trader, or run a company with a tiny team, the 12 tips below will help you succeed with your accounts.
Hello there, how’s your month going? Sales going well? How are they compared to last month, or this time last year? If you’re like a lot of small business owners, it’s likely that you don’t know the answer to this.
Sadly, late or non-payment of invoices is a big problem within the small business community, and can quickly lead to major problems with cash flow. Ultimately this means that they can be the difference between a business being successful or not. A lot of business owners look to profit to gauge their success, but as I’ve said many times before, profit means absolutely nothing without good cash flow.
This is the second in a 2 part series that attempts to demystify the language of accounts. If you’re wondering what happened to A-H then hop over here to check it out and we’ll see you once you know your assets from your equity!
Do you know your accruals from your prepayments, or your assets from your liabilities? If you think that I’ve just dipped into a foreign language, then this short glossary of bookkeeping terms is for you. Running a business can be challenging enough, without having to also learn what feels like a whole new language. There’s a lot to cover, so we’ll look at A-H in this post, and I-Z in a future one.
Sadly there are always parts of running a business that aren’t quite as enjoyable as others, and for a lot of people the task at the top of that list is bookkeeping. It might not be your favourite way to spend a couple of hours, but good financial records are so important to creating a successful business. Here are 4 common mistakes a lot of business owners make, and how to avoid them.
You’ve just started your own sole trader business and you’re full of excitement and keen to get on with doing what you love, and that’s probably not bookkeeping. Good financial records are the foundation of your business and could determine its success. Following these three simple steps will mean that bookkeeping is no longer a burden.