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Why do I have to pay tax when I made a cash loss?

How can there be a profit if the year’s ended with no cash? It’s quite common for businesses to end the year with little or no cash, only to be told by their accountant that they made a profit and...

Use focus groups to understand your customer

Two examples of this effective technique show you how you can set up your own focus groups. The concept of focus groups simply involves gathering a few your target market customers together, and then putting a series of questions to...

Creating value in your business

The key to building value in your business is to plan the process in a systematic way, whether you’re aiming to grow your business or groom it to get a better price from a buyer. Looking through the eyes of...

Work out a price for your product

There are a number of ways to arrive at the price to charge customers. Regardless of which method you use for pricing your product, you’ll need to know what it costs to supply your product to be sure you’re able...

Finding the right successor for your business

Putting a succession plan in place helps ensure the future stability of your business when you step aside or if unforeseen events happen. Succession plans should be made well in advance if they are to be executed properly, and legal...

How to pass your business onto a successor

Putting a succession plan in place helps ensure the future stability of your business when you step aside or if unforeseen events happen. Succession plans should be made well in advance if they are to be executed properly, and legal...

Weighing up succession planning options

Planning for the succession of a business is an important and sometimes overlooked part of a business plan. It’s an inevitable period in the lifetime of all successful businesses – so it’s best to weigh up the options early. Keeping...

How to accurately forecast sales

Start-ups are at a disadvantage when it comes to their first sales forecast because, clearly, they don’t have any historical data to base it on. But there are still ways to create an accurate sales forecast, and it’s important to...