Developing proactive financial procedures

Developing proactive financial procedures

An integral part of running a business is establishing sound financial procedures and systems so you can monitor the overall financial health of the enterprise, as well as ensure that you continue to meet your tax obligations. Set up a business bank accountKeeping your business finances separate from your personal finances enables business owners to…

Getting rid of products to improve profit

Getting rid of products to improve profit

Businesses looking to improve their profitability may need to consider cutting under-performing products and services. There are a few simple ways to decide which products should stay and which should go. 80/20 rule An often used marketing and business rule states that businesses should focus their attentions on the 20 per cent of products that…