Crucial Accounting Tips For Small/Start-up Business

Crucial Accounting Tips For Small/Start-up Business

Financial Management, Robley Baynes, Small Business Guides
As a small or start-up business owner, one of the major things you need to consider before you commence operations is your business taxes and accounting. Many start-ups regretfully leave this for later, but this is something you’ll want to get to work on as soon as possible. In this article, we’ve provided 6 tips which you should consider before starting a business or in the early stages of business. As Captain Number Cruncher, Robley Baynes can assist you with the specific areas provided below. Track Your Expenses From Day One From the very first purchase, you’d need to monitor and keep track of your expenses to reduce tax liabilities. Often a business owner’s core focus is creating or maintaining products or building clientele whilst neglecting the accounting aspect of…
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4 Ways to Improve the Financial Health of Your Business

4 Ways to Improve the Financial Health of Your Business

Financial Management
4 Ways to Improve the Financial Health of Your BusinessPoor cashflow can be the cause of the death of your businessSo, how do you improve your cash flow?We've shared our top tips on Cash Flow ManagementCUT OUT INEFFICIENCIESThis includes monitoring your overheads to see if you are spending unnecessary money on running your business e.g. Late Payments on Tax FilingsCONTINUE TO INVEST IN PEOPLE AND RESOURCES. Investing in your business by hiring new staff including and skilled professionals and equipment will eventually lead to greater profits and more money coming into the business.SPEED UP COLLECTIONS PAYMENTS This involves encouraging your customers to part with their money before the end of the invoicing period. E.g. Early payment discounts etc.MAKE PAYMENTS TO CRITICAL SUPPLIERSIf you are unable to pay Invoices as it falls due,…
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