More people are going out on their own, with sole traders representing up to a third of the workforce in some countries. Most sole traders are upbeat about the future - with three quarters saying their best work years are ahead of them.
Technology drives a lot of this optimism and growth. Online tools allow people to work from anywhere, and manage their business without being tied to an office. Accounting software, for example, makes it easier to stay on top of tax, revenue, expenses and cash flow without ever needing to sit at a desk.
Find out what accounting software can do and use this guide to help find the right package for your business.
Holiday breaks are a time to spend with family, friends & have a chance to recharge for the year ahead. But, for a business owner this time can be stressful without careful cash flow planning. Even if you do continue to operate through the holiday shutdown season, your customers' financial behavior may not remain the same.
It can be pretty disappointing to work hard all year only to find that once you have paid staff, overheads and creditors, you have little or nothing left in the bank to cover your own time off. The budget and forecasting process ensures you know your numbers and are prepared.
Why is cash-flow planning particularly important at this t...
70% of professionals work remotely at least once a week, according to a study by serviced office provider IWG. Remote working has become more and more common as developments in technology have allowed us to communicate and collaborate no matter where we are. In fact, most of us are already logging on from home or holiday.
Remote work is on the rise, and it’s challenging traditional ideas about where and when work should take place. Offering flexibility to your staff can be a valuable tool to both attract new talent and retain your existing team. Make sure you’ve set up the systems to support this way of working.
Every project should close off with a bang, and every financial year should be wrapped up neatly.
That goes for businesses as a whole too. As we bid goodbye to this fulfilling year and ring in a hopeful 2020, it’s important for businesses to tie up any loose ends to start the new year off on a cleaner slate.
But what exactly are these loose ends? Here are some of our year-end business tips and resolutions for 2020 you may find useful to use as your year-end checklist.
Review sales and marketing efforts
Don’t let the thought of conducting a marketing or sales strategy review come off as daunting. Matters not the size of your business, a review can be as s...
When you are employing staff, there are a number of things to consider for your business.
Before you place the job ad, review your current staffing. Is there existing talent and capacity within your team that could cover the role? When you’ve established that your current staff capacity requires you to hire, you’ll want to follow a robust process to ensure you attract quality candidates.
Job description – Be clear concise and accurate about the role and what experience the candidate will need. Include details such as the start date, hours, and remuneration in order to give your candidate all the information they need to make the decision to join you.
Of course, in an ideal business world, we want ALL three. But being in business is tough. At times, you might be worried about whether you’ll have enough cash in the bank to pay your team and suppliers. Perhaps you’re working 80-hours a week just to stay on top of things. Or, maybe the stress of daily business life is impacting how you turn up at home.
Your business should deliver you the cashflow you need and the discretionary time to enjoy it.
We believe our clients all deserve the three freedoms: Financial Freedom; Time Freedom; and Mind Freedom. In other words, more money and time to spend on important things outside of their business, along with l...
If you have staff, you need to pay them. This is called payroll – the managing of payments to your employees.
Some small businesses choose to do payroll manually, keeping payment notes in a spreadsheet or other document. Others might outsource payroll to an accountant or bookkeeper, or even to a dedicated payroll company.
These are valid choices, but there's another option. You can use payroll accounting software to handle your payroll operations in-house. In this guide we'll investigate how that might work, to help you decide if it will save your business money.
People often make New Year's resolutions to live a healthier life. For example, they might resolve to change their diet, exercise more often, or cut down on alcohol.
You can make the same sort of resolutions for your business, to help it stay in top shape for the coming year. Since money matters to your business, it makes good sense to look at its overall financial health and see where you can make improvements.
Here are some tips that will help you understand what you've achieved in the past year – and what you might be able to achieve in the next. Some you can put into action right now. Others can become resolutions to he...