Tweak Your Biz » Finance

What are some of the most vital elements for ambitious start-up owners looking to grow their business into the next British success story to put into place? Looking at five of the most successful start-ups from the last decade, there are several clear behaviours which they consistently show: #1. Right product, right time Superstar new businesses capitalise on up-to-the minute trends, if necessary disrupting their sector, rather than trying to emulate the offerings of current industry…

For small and startup companies there are few more pressing concerns than cash flow. Finance is always required to keep the wheels of any enterprise in motion and when it seizes up the consequences can be damaging and even disasterous for small firms. Here are 5 ways worth considering as routes to finance: #1. Factoring and invoice discounting Invoice factoring and discounting are very popular and widely-used means of accessing finance on the basis of work already done or services already…

To function smoothly and keep growing, small businesses need enough cash in hand. Cash is an extremely convenient thing to have. It allows you to carry out a number of things — you are able to pay your suppliers and staff on time; you avoid late payment charges on the bills; you are able to take on new projects; and you gain negotiating power with prospective as well as existing customers.   All in all, your operations run a lot smoother and your employees trust you more when there…

Everyone knows someone who has a bad word to say about these two professional groups. I have experience of both, having been an estate agent and as a marketing manager at an insolvency practice. First, let’s get one fact straight. In every walk of life or profession you will always come across some bad apples. Are there any more bad apples across the insolvency or estate agency sectors than any other industry?  I doubt it very much. So why is there such a bad perception of both? Let’s…

If you’re a business owner, you’re swamped by competing priorities, not the least of which is dealing with constant competition, in a limited marketplace, with a limited budget. If the bad news is that you have to spend money to make money, the good news is that by being smarter with how you spend, you can get ahead of the competition and stay there. #1. Promote What Makes You Unique Your customers care very deeply about what makes you different. Why? If you and all your competitors were…

Most of us are struggling to make ends meet. The economy has slowed down, lay-offs are becoming a norm of sorts, and salaries are taking a hit. Financial security is a priority for everybody. Having a disability may seem like a hurdle in making economic progress, but with a few smart moves and concrete planning and research, those with disabilities can also lead a financially secure and satisfying life. Take Assistance of College Financial Aid Programs A college degree sharpens your skills and…

One of the most daunting aspects of setting up your own business is learning how to manage your books and complete your taxes. In my own experience as a self-employed writer, I’ve learned first-hand how easy it is to let day-to-day book-keeping slip down my list of priorities when I’m busy completing work for clients, marketing my business and networking. Unfortunately this resulted in spending a few frantic coffee-fuelled days before the deadline doing almost a year’s worth of financial…

If you’re considering accepting credit cards for your small business, the world of merchant payment processing might be a bit scary, but with a little knowledge, you’ll be more confident to choose the best provider for your business. Here are 8 terms you should know before getting started. #1. Payment Gateway If you plan to accept payments on your website, you need a payment gateway. Essentially, this is a service that will authorize credit card payments on your behalf, and include…

Managing the resources that go into accounts can represent a real Catch-22 for small and medium businesses. For many companies, a full time accountant is simply not financially feasible. Responsibility for issues like VAT returns and billing then falls to managers or directors. Managers and directors are typically occupied reacting to more pressing matters and so these accounting responsibilities tend to be put off. This results in cash flow disruptions and even  fines which ultimately…

Making a success of a personal business venture is not easy. 80% of small companies eventually fail, according to a BBC report of 2010. So why do new companies struggle, and how can small company owners try and ensure they become one of the ‘other 20%’. #1. An unrealistic business plan You will almost certainly have heard the expression ‘if you fail to plan, then plan to fail’. Starting a new company should mean that you engage in a meticulous planning exercise. Examples of areas your…