Calculating your net worth can be a quick and easy way to get an outline of your financial position. By working out your net worth each year, you can get a sense of whether your finances are going in the right direction. Tracking your net worth can also help you focus on the big picture during those times when it seems like you’re going backwards at a rapid rate – when your car or an appliance breaks down or you dip into your savings to cover an essential but unexpected expen

Having that Eureka moment when you cook up a great new business idea is a great moment. You’ll be full of ambition and eager to begin building your startup. But once you've had that initial rough idea, how do you assess and plan out your business idea to make sure that it has legs? For a startup, the key thing is to define what your idea brings to the marketplace. This way, you know WHY you’re starting this venture and – crucially – whether it’s a viable business model. Resea

Many retailers have flocked online to reach customers who were stuck at home. Last year’s Xero business trends report showed up to a quarter of businesses intended to make the move. So in this year’s business trends report, we checked how that’s working out. Specifically, we asked what aspects of e-commerce were the hardest for newbies to deal with. About 60% said they found it tricky to calculate fees and taxes on digital sales. A similar portion found it difficult to manage

A great business idea is an excellent starting point for a company. But without funding to provide the necessary capital, your business idea could be dead before it's even begun. To quote a well-worn phrase, ‘Cash is King’ and that means it’s critical to start thinking about funding as early as possible in the journey. Think about how much investment you’ll need to get going, the different routes to funding, and the best ways to approach investors and lenders. Calculate your

To trade as a business, you need to meet the right compliance requirements. It’s certainly not the most exciting part of creating a business, but setting up the right legal, accounting, and tax compliance foundations ensures that you’re doing everything by the letter of the law. Here are the main compliance steps to think about, and why they’re so important to the smooth running of your business. Decide on a legal structure for the business First off, you’ll need to make a de