Resources for Increasing Profit

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.

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.

Your current business model is the way your business earns money. A change in your business model can bring substantially more income – sometimes for less work and lower overhead costs.
Technologies and markets change at an ever-increasing rate, opening new growth opportunities that may just require a shift in your thinking.

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?

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.

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.

Cutting costs can be a quick and easy way to improve the profitability of your business. Introducing cost-control measures can bring immediate savings and ensure you remain profitable in the long term.
But it’s important that cost-control measures are carefully managed. Eliminating errant expenses is clearly beneficial, but indiscriminate cost-cutting could lead to a drop in quality, or poor morale if staff fear being made redundant or are not given the tools they need to do their job efficiently.

What exactly is profit in a business? This article shows you how to avoid three common profit mistakes that can seriously affect the success of your business.