managing cashflows

Growing your business – 3 Key Tips

Growing your business – 3 Key Tips

There comes a point when entrepreneurs/founders want to expand and grow their business, be it adding a new service/product, opening a new location or adding staff to grow existing services. I would recommend 3 key tips for businesses to consider before embarking on a growth phase. 1. Planning for growth…

Funding pain remains for startups and SMEs’

Funding pain remains for startups and SMEs’

Raising funding for startups and small and medium-sized enterprises (SME) or even large projects is still a difficult and painful process out there. I had a long discussion with an experienced consultant recently who works with tech startups and his prognosis for the smaller end of fund-raising circa £250,000 was…

How to calculate returns on a project – using Net Present Values (NPV)

How to calculate returns on a project – using Net Present Values (NPV)

Businesses have to make investment decisions all the time. Deciding on whether to proceed with a project can be tricky if you are faced with multiple projects with differing profits and timelines. The most useful tool to use in such situations is net present values (NPVs). In an earlier blog,…

3 Critical Key Performance Indicators (KPIs’) to use in your Business

KPIs’ (Key Performance Indicators) are set up for absolutely anything these days from measuring SEO performance to customer satisfaction and it’s easy to get submerged in a sea of indicators. Everyone talks about them and mentions them in such jargon that it is vital to keep a clear head of…

Alternative funding sources for Business – Invoice Factoring

Invoice factoring is a fast way to raise cash by ‘selling’ your invoices to a large factoring company for a fee and who then collect the debts from your customers. It’s different from invoice discounting since the whole credit control function is carried out by the factoring company. It is usually…

Can you make profits and still go bust?

Can you make profits and still go bust?

Yes, you can! Here are some scenarios where your business can be very profitable and still go bust. 1.  Growing too fast – a business can grow too fast and tie up cash in debtors and inventory, running out of cash to pay suppliers. 2.  Big deal sours – too much…

Should you use Budgets in your business?

Should you use Budgets in your business?

Answer – yes and no! Let me explain. The pros and cons of using budgets in business has enough pages written about it for many years. Some argue for and some against. The main arguments for are that businesses can convert their objectives into financial performance targets or annual budgets that…

3 Key Tips in managing your Suppliers

A lot of businesses don’t pay enough attention to managing their suppliers. They constantly manage their customers but tend to forget how important the suppliers are to their business. Supplier relationship management is also critical. It’s not just a case of paying them what’s due when its due. Actively building…