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Nine ways to retain great employees

While your tools, skills and reputation allow you to operate, it’s your staff who can often influence your trade business’s progress. Hiring great workers is only half the solution. Once you hire them, you’ve got to retain them. Here’s how....

The pros and cons of outsourcing bookkeeping and payroll

Wouldn’t you like to be able to reduce your time spent on administrative tasks so you could focus on increasing profits and running your business efficiently? Now might be the right time to contract out bookkeeping and payroll. The pros...

How to develop new products and services

Markets are dynamic and constantly evolving so no business can afford to stand still. No matter how excellent your products or services, they have a finite lifespan, so they must be developed or replaced if you’re to continue growing your...

Work out a price for your product

There are a number of ways to arrive at the price to charge customers. Regardless of which method you use for pricing your product, you’ll need to know what it costs to supply your product to be sure you’re able...

Why do I have to pay tax when I made a cash loss?

How can there be a profit if the year’s ended with no cash? It’s quite common for businesses to end the year with little or no cash, only to be told by their accountant that they made a profit and...

Deciding to keep your business in the family or to sell up

Planning for the succession of a business is an important and sometimes overlooked part of a business plan. It’s an inevitable period in the lifetime of all successful businesses – so it’s best to weigh up the options early. Keeping...

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Cross-selling and upselling to increase your sales

Both cross-selling and upselling can be useful methods for increasing your business’s sales. But there are also genuine benefits for your customers. They’ll appreciate being offered an item that either complements or adds value to their original purchase. The art...

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