Identifying unrealised potential Take your profit and loss (P&L) statement, for example. In itself, it simply provides a historical record of how your business has already performed – it does not explain how to improve your performance in the future. But our...
Introducing the discipline that finance management brings means a business is much better placed to organise and plan its development. Most financial management is relatively simple to implement, and the advantages of doing so far outweigh the time and resources...
We are all aware of the importance of maintaining a positive cashflow from month to month if we are to avoid a liquidity crisis and all the misery that entails. But there is a lot more to cashflow management than simply avoiding crises. Actively striving to increase...
In business, your profits are your reward for your endeavours. In fact, profitability is the only reliable measurement of a business’ success. Profits are the very lifeblood of a business. They fuel growth, support the owners, provide for the well-being of the...
Any business, whether it is just starting out or is considering the next stage in its development, will need a business plan. A business plan serves several important purposes. Perhaps the most obvious is to help raise funding. A business plan is the document that...