Blogs

New year’s resolutions aren’t just for January 1st. The start of a new fiscal year is an opportunity to start afresh and make positive changes to the way you manage your money. As a business owner, it’s important to handle both your personal and business accounts well, since credit providers take your personal score into consideration when reviewing business credit applications. Here are ten ways that you can better manage both your personal and business finances in the new fiscal year.

Credit control is the process by which businesses extend credit to customers in order to make it easier for them to purchase a good or service. This could be by delaying payment or breaking down the total purchase amount into more manageable installments. This strategy drives up sales but it’s important to be careful about how you extend credit, and to whom, or you could end up in financial hot water. In fact, research by Graydon found that over half of business bankruptcies are related to poor credit management. We’ve put together a guide to credit control for small businesses to help you manage this process wisely.

A healthy cash flow is essential to the survival of your small business. It’s like food; without it, your business will starve. You need cash to be able to fund your operations, so it’s crucial to keep a close eye on how much money is flowing in and out of your business. Smaller and younger businesses in particular need to be mindful of cash flow so as not to damage relationships and accumulate debt. Here are some easy tips to help you better manage cash flow in your small business to ensure survival and growth.

For many small business owners, the first few years are simply a struggle to survive. Prioritising business growth may feel scary, but it’s the secret to getting past the break-even point and transforming your small business into a bigger and more profitable enterprise. We’ve put together a list of five growth strategies that can see your business grow from a tiny company into a commercial powerhouse.

When building and growing a small business, entrepreneurs often forget smaller details such as digitisation. It’s completely understandable; saving and organising documents or backing up data doesn’t quite demand your attention in the same way that products, services and employees do. However, digitization offers a number of benefits for business owners that can really make a significant difference when it comes to efficiency, profitability and innovation. Let’s take a look at five key ways in which digitization could benefit your small business.

The covid-19 pandemic led to a rapid and dramatic shift to remote working, which left many small businesses vulnerable to cybersecurity breaches. Suddenly, small businesses are facing a whole new range of threats that they may not even be aware of. Whilst offices are...

Increasing staff productivity is an effective way to boost profits for your business because it essentially means that you get more for your money. However, pushing your staff too hard can have the opposite effect and result in declining morale, which has serious knock-on effects for the rest of your business. A study by Oxford University found that happy workers are 13% more productive, so here are five ways to make your staff do more whilst keeping their wellbeing in mind.

Digital marketing has long been popular, but in the wake of the covid-19 pandemic it is now a necessity for all small businesses. Effective digital marketing can help you to increase sales and build a more profitable business, but there are many common pitfalls to avoid. Let’s take a look at the top digital marketing mistakes to avoid.

Your small business may be turning over a decent sum of money, but how much of it do you actually get to keep? The pandemic has presented huge challenges for businesses and seriously impacted profits, so we have put together four steps to improve the financial fortunes of your small business and help you keep more of the money you make.

If the covid-19 pandemic taught business owners anything, it’s that it pays to be online. The world was undeniably moving in a digital direction pre-pandemic, but the crisis accelerated this shift and many businesses were forced to go online almost overnight. As a...