Running a business will always mean incurring certain expenses, or ‘spend’. Whether you’re a large family business or a small fledgling startup, there will be costs, overheads and supplier bills that mount up – and these expenses will gradually chip away at your cash position, making it more difficult to grow and make
A crystal ball would be very handy in business! But the good news is that quality forecasting can be just as useful, giving you an informed view of the future of your business and finances. Using forecasting to help your decision making is a way for savvy business owners to plan for different scenarios. Looking
Money in, money out. Cash flow is one of the most important measures of your business's health. But how do you monitor it? It sounds simple to track sales on the one hand and expenses on the other – then compare the two. But a massive 65% of failed businesses say they closed because of
Holiday breaks are a time to re-charge for the year ahead. However, for business owners, it can be a stressful time for cash-flow. Have you got the strategies in place to ensure you are in the best financial position this year with your Christmas cashflow planning? Christmas holiday breaks are a chance to re-charge for
The Business XYZ Ltd* is a niche business in New Zealand’s competitive creative industry with around 10 fulltime staff. We began working closely with them three years ago, when a new shareholder bought a 1/3 interest in the business. The Issues XYZ Ltd had a talented design team but were weak in several fundamental
While as individuals COVID-19 has challenged many of us physically, mentally, financially and spiritually, for business owners the challenge of merely staying in business continues to be an ongoing battle. The impact on the travel and hospitality industries has been particularly devastating, and the overwhelming majority of businesses have had to evolve at least to
Every business owner understands how important it is to have healthy cash flow, and this year that has become even more essential as COVID-19 continues to impact on businesses of all sizes. We asked UHY Haines Norton’s Business Improvement Manager Michael Jamieson for his top three tips to improve business cash flow. Review your invoices
Poor cash flow is one of the biggest reasons why businesses – and particularly small businesses – fail. Michael Jamieson shares his top tips for improving and managing cash flow in your business. A sale is not a sale until you have been paid. Too many business owners run themselves ragged doing the work but put chasing overdue
