Efficient credit control. Cash is King: an expression that I am sure that most of you are familiar with. And it is a truism that a business forgets at its peril; no business ever failed because of having too much cash. So, in this era of the lack of financing available from the banks, it […]
Last week, following a late night, for me anyway, at a Somerset Chamber of Commerce dinner with some like minded entrepreneurs, I had a lie in. Consequently I took my dogs for their morning walk on the East Mendip hills at 7:30 instead of the normal 6:15. At 7:30 it was light as opposed to […]
Business plans and budgets. We are at the time of year when many businesses are starting to think about their business plans and their budgets. There is often some confusion over the distinction between a business plan and a budget: a business plan sets out the objectives of the business and the actions that it […]
In an article for Frank Short – Home Based Business’s blog, Roland Milward wrote about the importance of keeping accurate accounting records. He wrote: “With business comes financial responsibility. It is vital that you keep good and well organised financial records. These are both for good business reasons and your legal obligations for taxation. You […]
The first part of a series of articles about financing businesses. Part one discusses the need businesses have for finance and the demands that they make on financial resources.