The Food Business Profit & Loss Account We deal with a considerable number of food businesses. One of the things that we always stress (and with all business owners for that matter) is to understand the profitability of your business. To know whether or not your business model is profitable is essential and not something
How do I get that Loan? We have previously written blog posts about planning and forecasting. As part of any plan the need for finance to fund business growth will become apparent. The worst thing that any business can do would be to follow a plan that suggests it needs funding, but ignore the funding
Some food for thought on Revenue Interventions I just wanted to share some of our experiences in dealing with Revenue when they make enquiries in relation to our clients. Also what are the “hot topic” areas that Revenue will continue to focus on? Expenses This has been a significant earner for Revenue over the last
Cloud Accounting – What’s this all about? Technology is changing how Accountancy services are delivered. It’s taken a while for our old industry to catch on but now things are changing rapidly. There is software available to help with communication, data entry tasks, invoicing, banking as well as just about any other process you can
Cashflow – How to help yourself! Last week we looked at the difference between cash and profits and arrived at the very sound conclusion…..they are not the same thing! We also determined that Cash is King! So armed with this knowledge what can we do as business owners to help improve our Cash Flow. Your
Cash is King……..but it’s not Profit! When any business owner gets their monthly (hopefully!) or annual Accounts the first number that they scroll towards is the profit number. This is generally followed by the question……where is all the cash? How can I have made a profit if I don’t have any cash! Cash generated and
How does Corporate Governance fit into a Family Business? 1. What is Governance? It is widely written that the concept of governance evolved around 3,500 year ago from the ancient greek word “Kubernetes” which means the person giving steerage or direction to a ship. Corporate governance came into focus in the 1990’s in the UK
Family Business – Disruption, disputes and the rest! Last week I watched “The Founder”. Getting to watch a movie is a rare occasion these days with two young boys that are much more into watching Paw Patrol or Toy Story (yes….20 + years later it still generates revenue!). For those of you who have not
Monitoring Financial Performance – Can my SME do that? It always surprises me the number of small business owners who feel that their business might be too small to monitor its financial performance regularly or to have targets in place. We are all busy, and sometimes as an entrepreneur or business owner, because you are
11 tips for Business Owners to help increase profits! Goals – have a goal and a plan in place as to how you are trying to achieve this Goal. Make sure it is a stretch, that people would think you are crazy if you said it out load but that most importantly YOU believe you
