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How to handle debt so you always get paid on time

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...

Labor charge out rate calculator

If you have a business which charges for labor, use the Labor charge out rate calculator to work out how much you should be charging. Download the Labor charge out rate calculator

Why it can pay to buy an existing business

If you’re looking impartially and unemotionally at the options ahead when starting your own business, you have to admit simply buying one already in operation is incredibly appealing. Not only do you get experienced staff and an existing customer base,...

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...

Use focus groups to understand your customer

Two examples of this effective technique show you how you can set up your own focus groups. The concept of focus groups simply involves gathering a few your target market customers together, and then putting a series of questions to...

Planning for disaster recovery

Anyone who has been through a major earthquake, flood, fire or other disaster can confirm that a lot more could have been done – and should have been done – to lessen the impact. Forethought is the key to recovery....

Loan calculator

What to do if your business is operating at a loss

Operating at a loss simply means you’re spending more money than you’re making. And while it’s not uncommon, especially for new businesses, it’s still not an ideal situation and one that shouldn’t be allowed to continue in the long term....