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Get better deals from your suppliers

Being on good terms with suppliers could translate into special deals or preferential treatment. Your suppliers may also give you greater leeway in the face of a cash shortage or when you need extra time to pay. Build the relationship...

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...

Gain customer loyalty and keep your regulars for life

Long-standing customers form the backbone of a strong, well-established business. Make it your mission to ensure that the vast majority of your current customers stay with your business for many years to come. Why it’s vital to keep existing customers...

Growing your business – checklist

Once your business is up and running, it’s important not to rest on your laurels. Successful business owners are always looking at ways they can grow their business and maximize their profits. We’ve put together a guide and checklist that...

How to accurately forecast sales

Start-ups are at a disadvantage when it comes to their first sales forecast because, clearly, they don’t have any historical data to base it on. But there are still ways to create an accurate sales forecast, and it’s important to...

How to complete a SWOT analysis

A SWOT analysis is used to help fine-tune your business strategy by examining internal and external factors that may help or hinder your business. Identifying and understanding the strengths, weaknesses, opportunities, and threats – that’s what SWOT stands for –...

How to make your fixed assets work harder and provide a better ROI

An asset ratio compares your assets to another part of your business. So, you could be comparing assets to revenue, profit, the number of employees or their salaries – whichever you wanted to measure. For example, if your assets/salaries ratio...

The importance of business planning

When you are setting out and everything is moving so quickly, it’s easy to deviate from where you intend to be. If you don’t have a business plan, you might compromise growth or miss out on opportunities by sweating the...