Why you need an accountant and how to choose one
Why accountants are necessary Unless you’re an experienced accountant yourself, it’s always best to have an expert overseeing your financial business affairs. As a business owner, you’ll probably be juggling several roles, but it’s not wise to spread yourself too...
How to set up a cash reserve
Running a successful business is a juggling act between cash coming in and cash going out. If you’ve built up a cash reserve, you’ll be better able to stay in business and handle short-term issues like falling sales. Build a...
When to invest in more equipment
Is it time for your business to invest in some new equipment? And if so, is it a smarter business decision and more cost-effective to hire or buy? Why you might need new equipment The right equipment can enhance your...
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,...
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...
How to value a small business
If you’re buying or selling a small business, it’s critical to know what the business is worth. The challenge is that what you think a business is worth, and what the person on the other side of the fence thinks...