Resources for Increasing Profit
Is it time for your business to invest in some new equipment? And if so, is it a smarter business decision and more cost-effective to hire or buy?
Why you might need new equipment
The right equipment can enhance your processes, productivity, capacity to innovate, and bottom line, but should you buy now or wait till a later date?
Franchising can be an excellent way of growing your business rapidly and earning a good return. It can also be a pathway for ultimately exiting your business and leaving it in the capable hands of franchisees.
Here, we’ll outline ten steps to successfully franchise your business with a view to leaving it behind at some point in the future.
At some point in its lifetime, every small business suffers from cash flow problems. The trick is to think ahead and figure out when these problems are going to arise, so you don’t have to unexpectedly postpone a purchase or hurriedly seek out additional finance. This is where cash flow forecasts come in.
Profit margins are fundamental to business success and growth. How you choose to increase your margins so your business can achieve sustainable development is up to you – but taking small steps on a regular basis will help keep your customers on your side.
If your customers owe you money, the faster you’re able to obtain it using effective collection tactics, the better. Ideally, you want to reduce the chance of bad debts and pressure on your business’s cash flow.
It can be easy to neglect managing your debtors when you’re busy growing your business, but smart credit control is important.
Finding money for the essential assets you’ll need to run your business efficiently can be a challenge. You’ll need to decide whether leasing or buying is best for your business.
FULL LIST OF GUIDES