Tweak Your Biz » Finance

Routinely using an overdraft can seem like an unavoidable option as far as many small businesses are concerned. However, there are alternatives if you’re worried by the costs or potential consequences associated with an overdraft. Here’s 4 of the best: #1. Asset finance Rather than dipping into an overdraft facility to cover payments associated with large purchases, small businesses can establish structured repayment plans to secure access to assets they need. The process is not unlike…

Cash flow concerns keep many a company director awake at night and the process of juggling payments can put huge pressure on any financial situation. There are of course many different methods of solving these issues but it’s no secret that traditional routes to finance have in large part dried up entirely for small businesses in recent years. As a result, alternative finance providers have seen demand for their services rising sharply as companies look to find new ways of accessing the funds…

Technology has given us the necessary tools to make our lives more convenient than ever before. In business, this covers many areas, including accounting software, which has made it easier for entrepreneurs to manage their business and finances. However, some still believe that no machine or equivalent can replace the work of an extraordinary accountant. It has been an ongoing debate between the efficiency of a traditional bookkeeper versus accounting software. The modern advancements in…

There may come a time when you no longer want to be a director of a company. So why would this happen? Here is a list; Inherited company from family and no longer wish to run it. Other commitments Retirement Wish to start up a new company May want to use tax losses in a new company. So how do you go about exiting the business? #1. Business Sale Selling the business is a very popular idea but the realisation value of the business is often much less than you expect. Reason is simply that you…

  The current austere climate has made it imperative for small businesses to tighten their purse strings, cut back on costs and eliminate undue expenses. The suffering sales, endless government red tape requirements and taxes have made small business owners more aware of the need to save money. It is a well-known fact that small businesses cannot depend on anyone for cash. But if played right, business owners can dramatically cut costs, save money and ensure they are getting maximum return…

Alternative lending has been going through a Renaissance over the past few years. Even as the U.S. economy continues to get closer to a real recovery, access to traditional business financing for the nation’s smallest businesses (those with 20 or fewer employees) has hardly budged. Numerous alternative lenders have been quick to fill in that void with an assortment of financing solutions, such as merchant cash advances, short-term working capital loans, and invoice factoring. But as more…

Ah, the good old days. When your customers would walk into your store, pockets full of cash. You didn’t have to worry about credit card transactions or merchant card processing (whatever that is). Times were simpler then. But technology has changed all of that. Cash is becoming obsolete, many say. Dare we venture to say, you might not even need to carry a purse or wallet if things keep moving in this direction. Why Cash is Going Out of Fashion Just like laser discs, cash may soon be a…

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…