Ways to spring clean your finances

When it comes to your money, whether it includes loans, insurance, savings or superannuation, nothing about it is ‘set and forget’. From time to time, it is quite important to consider looking at the different aspects that make up your finances to see if they need a freshen up. Here are some tips on to…

Meeting cash flow needs in retirement

Meeting cash flow needs in retirement

Working out the right cash management strategy for a self-managed super fund (SMSF) is a critical component of its success. Retirees usually spend more in the first few years of retirement because they are doing all the things that they couldn’t while they were still working. Therefore, a smart way to determine cash flow needs…

Short term vs long term financing

Short-term vs long-term financing

Maintaining healthy cash flow can be challenging; between ongoing expenses and bills, poor cash flow can severely impact your customers, staff and bottom line. Business owners need to understand the differences between short and long-term financing when developing a cash flow strategy. There are various sources of finance available and each source of finance is…

Considerations before selling your business

Considerations before selling your business

The sale of a business is a complex process; there are often unforeseeable issues that may arise between buyers and sellers, along with financial and tax implications to take into account. Here are a few things to keep in mind when preparing for the sale of your business: TimingThe timing of the transaction is one…

The difference between debt and equity financing

The difference between debt and equity financing

Business owners now have a variety of financing resources they can utilise to build their business. But what one is the best option? Sources of funding sources are usually divided into two categories; debt and equity. Debt financing involves borrowing money from an outside source and paying back the borrowed amount plus the interest at…

Making sales calls

Making sales calls

There are a few aspects of running a small business are as intimidating as actually making sales calls. Nevertheless, making sales is a vital part of any business. Regardless of whether or not a business has a salesperson or sales team it is important for the business owner, to make sales from time to time…

Speed up customer payments

Speed up customer payments

Managing debtors is often a cause of frustration for many small business owners. Unpaid invoices can seriously disrupt cash flow. Between chasing late payments and keeping track of invoices, debt collection can be a headache. Fortunately, there are ways to speed up your payments with a few simple adjustments to your invoicing system you can…

Boosting you business’ cash flow

Boosting you business’ cash flow

For small businesses to remain afloat they require healthy cash flow. Improving cash flow may sound simple; earn more and spend less, but managing cash flow can be far more challenging than it may seem. Good cash flow management helps sustain business during times of cash shortfall and excessive expenses. Managing cash flow requires proper…

Lease or buy business equipment

Lease or buy business equipment?

Business owners, at some point, will be faced with the decision whether to lease or buy their business equipment. Both leasing and buying provide different advantages and disadvantages, and depending on the circumstances one option may strongly outweigh the other. Here are the pros and cons to consider when weighing up your options: Buying: Buying…

Building your customer base on a budget

Building your customer base on a budget

Businesses starting out will often be challenged by the need to generate brand awareness but with a limited marketing budget. Minimising costs will often be at the forefront of business owners minds with uncertain revenue and copious amounts of capital expenditure; marketing is unlikely to be a top priority. However, new businesses need brand exposure…