Profit margins are the be-all and end-all of running a business, and with so many expenses coming from every angle, it can be a huge challenge to keep things cost-effective. 82% of small businesses fail because of cash flow mismanagement, which goes to show just how important it is for a business to maximise their income and minimise their output.
Continue reading Do you have a cost-effective business?
James Crowther owns one of Europe’s 20 million SMEs. Utilising his background in finance and fleet management, James’ vehicle brokerage business, Trade Vehicles Direct, finds clients the best deals on cars by sourcing direct from suppliers. His agreement with accountants from accountants-edinburgh.com take care of his assets. His negotiation skills, use of the best services like the ones offered by Fully-Verified and industry relationships are key to his success and have allowed him to grow fast in his niche. Unfortunately, he struggled to fund the rapid growth since the main banks struggled to analyse his model and fit his business in a convenient box.
Continue reading The difficulty small businesses are facing accessing finance, and how iwoca is using technology and data to solve this problem
Cash management and credit control are probably not the most scintillating aspects of running a business, but they are the keys to making sure you stay solvent. Without adequate cash to pay suppliers and staff you won’t be in business long, so take a look at these ten tips to help you stay in control of cash flow and keep you in the black. Continue reading Top 10 tips for keeping a healthy cash flow