Working capital is the money needed for day-to-day business operations and is often a measure of a business’s liquidity, efficiency and financial health. To ensure your business has adequate working capital, the working capital cycle should be applied. The working capital cycle is the length of time from the purchase of inventory to the receipt…
When you run your own business, it can be hard to step back and look at the big picture. Failing to do so, however, not only harms your business; it can also make it even harder to sell. Whether it is failing to track cash flow or not investing correctly in key staff, there are…
When the winter season commences, you might notice a spike in your bills. Although, it is no surprise that additional heating and hot water adds up, you may be surprised at how you can reduce these costs with minimal effort. Consider the following tips to reduce your winter bills and lessen your environmental impact: Heating…
When shopping around for a personal loan, it is wise to be conscious of any potential scammers that may try and offer you a deal that sounds too good to be true. Though a loan may look legitimate from a first glance, there are various tell-tale signs to watch out for to spot a fraudulent…
A personal loan can come in handy if you need some extra cash to fund a purchase, but it may not always be your best option. Before you sign away, you will need to understand how personal loans work and if they are appropriate for your circumstances. A personal loan is when a person borrows…
Most people, at some stage or another, will need to save money. Whether it is for a large purchase such as a house deposit or money for a rainy day, similar savings principles apply. Consider the following tips to boost your savings account: Automate your savings One of the easiest ways to get into a…
Whenever or however you choose to invest, there will always be risk involved. Luckily, there are strategies you can adopt to manage this risk in the best way possible for you and your investment goals. Unfortunately, volatility in financial markets can cause an investor to lose their confidence. The Australian Government has provided Australians with…
Freeing up working capital can help businesses fund growth, reduce debt levels and lower costs. One way to improve working capital is by managing your accounts receivable. Many businesses fall into the trap of poor accounts receivable management, for various reasons from extending credit to customers, to ignoring payments terms to guarantee a new sale.…
Poor cash flow is one of the biggest reasons why small businesses fail. A healthy cash flow allows you to operate your business free of hassle; allowing you to pay your staff and bills on time. Having enough working capital to meet your business’ needs can help you stay out of debt and in business.…
Managing debt in your small business is essential in maintaining the financial health of your business as well as preventing bankruptcy. Consider the following tips to ensure your small business debts do not spiral out of control: Reshuffle or remove expenses Reviewing your expenses is one of the first steps to take when tackling debt.…
